Jasper County Democrat, Volume 10, Number 1, Rensselaer, Jasper County, 6 April 1907 — CAUSE OF THE PANIC. [ARTICLE]

CAUSE OF THE PANIC.

Subsidies for the trusts and other special interests and new offices and bigger salaries for themselves is the way the Repub* lican party looks after the interests of the people, who foot the bills.

Secretary Oortelyou last week deposited some $50,000,000 of government money in New York banks to ease up the situation created by the stock speculators. Mr. Rockefeller’s bank, of course, got its lion’s share, as usual.

Those who think Charles Warren Fairbanks will not be a factor at the bext Republican national convention are deceiving themselves. He is a politician and has millions of dollars back of him. The trust magnates are working for him because he is one of their kind. _ Those who permit state pride to override judgment will make a serious mistake.—Oxford Tribune (Rep.)

According to State Treasurer Hadley it cost him, it will be recalled, $14,000 to get his office. The salary of the office was >6,500 a year, or $13,500 for the term The legislature helped Hadley out of the hole by giving him an extra SI,OOO a year, thus making his office worth $15,000 for the term, By a little figuring it can be seen that the treasurer will hft’W* SI,OOO to live on during the next two years. And the cost of living is getting higher all the time, too.

A good many Republican papers are engaged in suggesting the names of several able and distinguished Democrats besides Mr. Bryan who would make good candidates for the presidency. Why, bless their souls, the Democratic party is full of men who would make good presidents. When its convention meets next year it will nominate a man who will make both a good president and a good candidate. In other words, a man who is in touch and sympathy with the people who do the voting.

Governor Hanly swelled with indignation when he discovered that the general appropriation bill contained an item of 125,000 to the state representation at ie rlamestown exposition. Indiwua, as all know, is one of the fairest daughters of the, old Virginia mother state, but Mr. Hanly’s opposition will give it the memoriable distinction of being the only one taking no part in the celebration. But the same Mr. JSanly not only secured extra appropriations for his own office,

but be approved legislation increasing salaries and creating new offices costing the taxpayers near-, ly 9850,000 more than last year.

The late legislature created many new positions in the state auditor's office and increased the appropriation for salaries and exposes to the extent of 350,600. Among the new appointees in the auditor’s office there is one member of the legislature, the father of aiwtber member, the sister of a senator, two cbronio candidates for state office, who failed to land

nominations, and some other persons with a pull of some sort. The Republicans in the state legifbitare did not expect to carry the state again for a long time, so they created as many new jobs as possible for 'those who had been shivering out in the cold.

The trouble in Ohio between the factions of the Republican party grows worse very gratifyingly. Hardly had the candidacy of Secretary Taft for the next presidential nomination been announced when Senator Foraker put himself in the race. Taft’s friends had declared that Ohio Republican sentiment was overwhelmingly for his nomination. Foraker challenges the truth of that statement and wants the question settled by a primary election throughout the state. The proposition is that if Taft fails to get a majority of the votes he is to get out of the way and'give Foraker a clear field as Ohio’s candidate. Taft is to have the delegation if Foraker fails to get a majority. This looks like a fair proposal and a free fight all along the line-

It will be remembered that Mr. Havemeyer, the head of the sugar trust, once testified that the tariff was the “mother” of the trusts. Mr. Cleveland now asserts that the tariff is the “father of the trusts.” This leads the Philadelphia Record to say: The protective tariff being both the father and mother, ol the trusts, it is evident the war with the brats can only be effectually carried on by attacking headquarters—the pernicious nest in which they are incubated. The Roosevelt assault on trusts is farcical as long as he “stands pat” and helps father and mother them. And this war with the trust brats of tariff parentage must be carried on by the Democratic party or it won’t be carried on at all. The country is certainly well satisfied by this time that no relief of any character can be expected Republicans.

An attempt has been made in some quarters to hold the attitude of the people toward the railroads responsible for the late New York panic. But it is reasonably clear that neither national nor state legislation had anything to do with it. As a matter of fact there has been no radical legislation against the railroads. The panic resulted from a cut-throat game arranged by the Wall street “operators” themselves. “It is simply,” says the Indianapolis News, '‘the old story of a struggle between the interests for the control of certain properties. Harriman and Frick have been trying to get Reading away from Morgan, and there was a fight over Union Pacific. Gould, it is said, has been breaking loose from his Rockefeller connection and working with Morgan. And finally Rockefeller himself is reported to have been angered at the conduct of his lieutenants, and to be operating with the Morgan forces.” While these men were playing their game a great many little fish lost money. The total, of course was millions, and doubtless some of “the widows and orphans” for whom Mr. Cleveland is so solicitous, were among the number. The people have been responsible for a great deal, but it is chiefly due the Republican party in control jof the government. From thaAone thing has come most of our iflesent troubles.