Gloucester County Democrat., 1912-07-11


which will determine a definite naval
program with a view to increase eff
fieiency and economy. The party that
proclaimed and has always enforced
the Monroe doctrine, and was sponsor
for the new navy, will continue faith
fully to observe the Constitutional re-
quirements to provide and maintain
an adequate and we'll proportioned
navy sufficient to defend American
policies, protect our citizens and up
hold the honor and dignity of the
nation
Republican Extrayagance.
We denounce the protiigate waste of
the money wrung from the people by.
taxation throught the Law
ish appropriations of recent Republi-
can Congresses, which have kept
taxes high, and reduced the purchas-
ing power of the peoples toll We
demand a return to that simplicity
and economy which befits a Demo-
cratic government, and a reduction in
the number of useless offices, the
salaries of which drain the substance
of the people.
Transportation Regulations.
We favor the efficiency supervision
and rate regulation of railroads, ex-
press companies, telegraph and tele-
phone lines engaged in interstate COM
merce To this end we recommend
the valuation of railroads, express
companies, telegraph and telephone
lines by the Interstate Commerce
Commission, such valuation to take
into consideration the physical value
of the property, the original cost, the
cost of reproduction, and any element
of value that will render the valuation
fair and just.
We favor such legislation aus will
prohibit the railroads, ex-
press, telegraph and telephone COM
panies from enga ging in business
which brings them into competition
with their shippers; also, legislation
preventing the over-issue of stocks
and bonds by interstate railroads,
express companies, telegraph and
telephone lines, and legislation which
will assure such reduction in trans
portation rates as conditions will per-
init, care being taken to avoid reduc-
ton that would compel reduction of
wages, prevent adequate service, or
do injustice to legitimate investments.
Banking Legislation
We oppose the so-called Aldrich Bill
or the establishment of a central
bank; and we believe the people of
the country will be largely freed from
panics and consequent unemploy-
ment and business depression by such
a systematic revision of our banking
laws as will render temporary relief
in localities where such relief is need
ed, with protection from control or
domination by what is known as the
money trust.
Banks exist for the accommodation
of the public and not for the control
of business. All legislation ON the
subject of banking and currency
should have for its purpose the secur-
ing of these accommodations on terms
of absolute security to the public and
of complete protection from the mis-
use of the power that wealth gives
to those who possess it.
We condemn the present methods of
depositing government funds in few
favored banks, largely situated in, or
controlled by Wall street, in return
for political favors, and we pledge
our party to provide by law for their
deposit by competitive bidding in the
banking institutions of the country,
national and state, without discrimina-
ton as to locality, upon approved
securities and subject to call by the
Rural Credits.
Of equal Importance with the ques-
ton of currency reform is the ques-
ton of rural credits or agricultural
finance. Therefore we recommend
that an investigation of agricultural
credit societies in foreign countries be
made, SO that it may be ascertained
system of rural credits may
be devised suitable to conditions in
the United States; and we also favor
legislation permitting national banks
to loan a reasonable proportion of
their funds on real estate security.
We recognize the value of vocational
education and urge federal appropria-
tions for such training and extension
teaching in agriculture in co-opera-
ton with the several states.
Waterways.
We renew the declaration in our
last platform relating to the conser-
walton of our natural resources and
the development of our waterways.
The present devastation of the lower
Valley accentuates the
for regulation of river flow
by additional bank and levee protec-
tion below and the diversion, storage
and control of the flood waters above,
and their utilization for beneficial
purposes in the reclamation of arid
and swamp lands and the develop
ment of water power, instead of per-
mitting the floods to continue, as
heretofore, agents of destruction.
We hold that the control of the
river is national prob
lem, the preservation of the depth of
its water for the purpose of naviga-
ton, the building of leeves to main
tain the integrity of its channel and
tl1ea. fi,,r, 81 -