The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-10-18
Bryan Defends the Administra-
ton Policy in a Speech
Delivered at the State Dairy
Show in Iowa.
TARIFF AND CURRENCY BILLS
Are Held Up as Models of
Beneficial Legislation.
Calls Position of Bankers Pre-
sumptuOus and Impertinent.

Waterloo, Ia, Oct 1S.-''For gener-
atoms the national banks have held
the governments money in return for
contributions to campaigns and sup
port of the Republican party"
Secretary of State William ]. Bryan
so declared at the Iowa State Dairy
show in an address devoted to Presi-
dent wilson's administrative meas
ures.
Secretary Bryan was speaking of the
pending currency bill. The currency
bill is the most remarkable currency
measure that we have ever had he
said. 1T gives to the bankers enough
to make them happy and doesn't enable
them to take enough to make the peo-
pie misera BILE. There is one feature
about this bill that should win the sup
port of every banker doing a legitimate
banking business. Heretofore it has
been necessary to put up bonds to Sc
cure government money, but by the
provisions of the new bill the govern
ment loans money without requiring
bonds 1t let's the regional bank take
collateral from the banks within the
zone and the zone banks put their guar
anty on the collateral. This enables
the government to put into a commun-
1ty more money than it takes out
The government asks in return
something that every banker should be
willing to concede; namely, that the
government should issue the money it
self. Why let the banks issue the
money in times of peace when the gov
eminent must issue it in time of trou-
Die? The president has taken the po-
sitioR that the government should issue
the money and l think he is right. l
also believe the banks can very we'll
concede this point when they consider
the benefits they receive throughout
having to purchase bonds as security
"a "a fn hi,
point whether they want to or not.
There is one point on which the bank
ers are divided. 1t is whether the
board that controls the issue shall con-
GALS
The Income Tax
On the income tax law he said: Il have
peeh called an anarchist for advocatine
thing have ever advocated Because !
lavored per cent tax, with an ex-
called me demagogue, and a disturbef.
OF the peace, and accused me of trying to
s SIT up the poor people against the rich.
mat is what they said nineteen years ago
but this country is changed.
when this bill passed the house 1t pro-
Nlded Tor an income tax running from l
per cent to 4 and when it got to the SEN
ate the senate said that it was not enough
Tor now we have Democratic senate1a
senate that comes from the people, and
hereafter the senate will be responsible
to the viii of the people. We have an in
Seven per cert on an income of $500, 600
When that bill came to be passed there
We're men in this country who had advo-
Gated an income tax. who were WiIIinor to
keep - per cent on wooden goods and the
old Payne-Aldrich bill rather than to join
with the Democrats to give a lower tax
western Republicans voted for the extor-
tionate rates of a higher tariff, an eastern
by Wall street and the manufacturers and
cast his lot with the plain people and gave
why did he do It? Because his heart
is on the peoples side. They could not
come down and scare him.
You have been Sinking your duties
and making the poor people bear the bur
den you ought to bear. Now we will help
them to reduce taxation and you must
take some of that load upon yourselves
Mr.. Bryan stated he believed the pres
ent tariff law will settle agitation on that
subject for generation at least.
The Currency Bill.
He said Nelson Aldrich's opposition to
the passage of TIE bin Mr. AldTich ~ has he 5
done more than anv other man in public
party in this country" said the sneaker
I'VE had a meeting in Boston the other
Sne Ped yhd fRa e whef ths
be controlled by a board of bankers they
a shouted We think the banks ought to
DO you know of any other class of So
ciety that wants to control itself? What
We must control the interstate commerce
commission that controls us in the rail-
road business Isn't it a respectable bust
ness isn't it a big business? But did you
ever ear a railroad man claim that they
should control one-half of the commerce
commission. one-third of the commerce
commission member of the board.
You never heard it. Do you know of any
other business that is regulated. demand
ing to control the regulating board? IF
you ever thought you did. write it down
and see how foolish you are after few
months.
Regulate the banks by board that
the banks select? What do you regulate
the banks for? For their own benefit?
No. for the benefit of the people who do
business with them. Whose money have
the banks? Why. the peoples money.
Whose money do they get from the gov
eminent? The people. Then. who says
that the banks shall control themselves.
while they handle the peoples money and
regulate Themselves and make themselves
do what the people want done.
at is presumptuous. impairment. au-
dacious and the bankers themselves ought
To be ashamed of it.
Approximately 1900 persons heard Mr..
Bryan and applauded his remarks. a
banquet was held in his honor. He re-
turned TO Washington last night.
OTAkIn0 In FAn EI9sTRTA