Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-10-18
bryan DEFENDS
| WILSON POLICIES
Attacks Critics of Tariff, In.
come Tax and Currency
Measures.

WATERLOO, Ia. Oct. 1s.-secre-
tary of State William ]. Bryan last
night spoke In defense of President
Wilson's administration policies.
He defended the pending currency
bill, the new tariff and the income
tax and attacked the critics of these
measures.
FOR generations the national banks
have held the governments money in
return for contributions to campaigns
and support Of the Republican party"
said Mr.. Bryan, speaking Of the pend.
ing currency bill. 1.-THE currency bill
is the most remarkable currency
measure that we have ever had. It
gives the bankers enough to make
them happy and doesn't enable them
to take enough to make the people
miserable.
There Is one feature about this
bill that should win the support OF
every banker doing legitimate bank.
ing business. Heretofore 1t has been
necessary to put up bonds to secure
government money, but by the pro.
visions 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
guarantee on the collateral. This en-.
ables the government to put into a
community 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 itself. Why let the banks is
sue the money In times of peace when
the government must issue II in time
of trouble? The President has taken
the position that the government
should issue the money, and 1 think
he is right.
"I also believe the banks can very
we'll concede this point when they
consider the benefits they receive
through. not having to purchase bonds
as security. and they will have to
concede this point whether they want
to or not. There is one point on which
the bankers are divided. It is whether
consist of bankers or government off,
Gals"
On the income tax law he said:
ST have been called an anarchist
for advocating the income tax more
than for any one thing I have ever
advocated. Because l favored two
per cent tax, with an exemption of
four thousand and no graduation,
they called me a demagogue and a
disturber of the peace and accused
me of trying to stir UP the poor
people against the rich. That is what
they did nineteen years ago, but this
country Is changed.
When this bill passed the House
it provided for an income tax run
ming from one per cent. to four, and
when it got to the Senate the Senate
said it was not enough, for now we
have a Democratic Senate, a Senate
that comes from the people. We have
an income tax ranging from one per
cent. to seven. Seven per cent on an
income of five hundred thousand and
more.
when that bill came to be passed
there were men in this country who
had advocated an income tax who
were willing to keep eighty-nine per
cent on wooden goods and the old
Payne Aldrich bill rather than to Join
with the Democrats to give lower
tax and income tax. | realize that
while Western Republicans voted for
the extortionate rates of higher
tariff, an Eastern Democrat, Wood
row Wilson, right by Wall Street and
the manufacturers, cast his lot with
the plain people and gave them low
rate on the necessities of life
"Why did he do 1t? Because his
heart is on the peoples side. They
could not come down and scare him.
The men in his own State who had
| great factories and wanted high
| tariff could not persuade him to take
his stand with them and let them col
lect tribute from the rest of the
people.
"You have been Sinking your duties
and making the poor people bear the
burdens you ought to bear. Now we
will help them to reduce taxation and
YOU must take some of that load
upon yourselves"