Jasper County Democrat, Volume 11, Number 7, Rensselaer, Jasper County, 16 May 1908 — Page 2

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Jin tomn demii. F.f. MBM. EIIIOB HD PIILIHfi. - A-,.. >I.OO PER YEAR IN ADVANCE. Official Democratic Paper of Jasper County. PUBLISHED EVERY SATURDAY. Entered at the Postofflce at Rensselaer, Ind., as second class matter. Office on Van Rensselaer Street. Long Distance Telephones: Office 315. Residence 311. Advertising rates made known on application. SATURDAY, MAY 16, 1»OS.

STATE DEMOCRATIC TICKET.

For Governor THOMAS R. MARSHALL. For Lieutenant-Governor FRANK J. HALL. For Secretary of State JAMES F. COX. For Auditor of State MARION BAILEY. For Treasurer of State JOHN ISENBARGER. For Attorney General WALTER J. LOTZ. For Reporter of Supreme Court BURT NEW. For Judge of Supreme Court M. B. LAIRY. For Judge of Appellate Court E. W. FELT. » For State Statistician P. J. KELLEHER. For Supt. Public Instruction ROBERT J. ALEY. DISTRICT TICKET. For State Senator, Counties of Jasper, Newton, Starke and White, ALGIE J. LAW, —- of Newton County. For State Representative, Counties of Jasper and White, GUY T. GERBER, of Jasper County. DEMOCRATIC COUNTY TICKET. For Treasurer ALFRED PETERS of Marion tp. For “Recorder CHARLES W. HARNER of Carpenter tp. For Sheriff WILLIAM I. "HOOVER of Marion tp. For Surveyor FRANK GARRIOTT 1 of Union tp. For Coroner DR. A. J. MILLER of Rensselaer. For Commissioner, Ist Dist. THOMAS F. MALONEY of Kankakee tp. ; For Commissioner 3rd Dist. GEORGE B. FOX of Carpenter tp.

The so-called Wall street “democrats” have almost tearfully admitted that they fear they cannot defeat the nomination of Bryan for

the presidency. - Ohio -and Massachusetts Demo* crats have instructed their national delegates to vote for Bryan’s nomination.

The Democratic idea that the bank deposits of the private citizen are just as much entitled to be guaranteed as are the deposits of the government is approved everywhere throughout the country.

The Kentucky Republicans , have instructed their national delegates to vote for Taft. And it was Fairbanks who carried that state for them, too, according to the claims of his friends. Besides, it was his state that had given refuge to fugi-

tive Taylor. If this isn’t base Ingratitude, what is it? As the case stands Mr. Fairbanks has only the votes from Indiana—and he is not so dead sure about some of them.

The Ohio Democrats held a great state convention last week and put themselves in fine shape to carry the state in November. And that is what is likely to happen. More than that, it looks like a ecrtainty.

The incompetency of the present Republican congress to deal with the financial situation has been plainly demonstrated. Three distinct currency bills have been introduced, viz., the Aldrich, Fowler and Vreeland bills, and each of them has caused violent opposition. With all of their boasted "genius for finance,” both high and low (and mixed), the Republican leaders have shown their miserable incapacity. They have not been abld to frame a measure that any considerable number of persons are willing to accept.

And now it is William Montgomery, cashier of the Allegahney National Bank, Pittsburg, Pa., that has embezzled $1,000,000, and it may reach $1,250,060. He has been detected, arrested and stands an excellent show of going to join a large colony of those republican country savers of 1896 and 1900 now In the penitentiary. Montgomery was M. S. Quay’s right-hand man and probably knows more about the methods employed to bring about victory in presidential elections since 1888 than any other living man. The notoriously sorrupt Quay was the discoverer of Benj. Harrison, and It was he who made Harrison the that year. Billy Montgomery was at his elbow and knew everything that took place that campaign. This will be remembered as the Dudley Blocks-of-Five campaign. Montgomery intimates that unless he is handled very carefully he will tell a few things that will not make very pleasant reading for the dyed-in-the-wool republicans.

ASSET CURRENCY.

The Record-Herald in a Washington dispatch assumes that asset currency is a thing of the near future, that is, a currency based on the assets of the National Banks and nothing else. Of course these assets is all there is behind the banks deposits, and in fact is practically all there is behind all the obligations of the bank. And now the republicans propose to allow these same banks to re-pledge these assets, they alone forming a basis for an emergency currency—a panic currency, if you please. If we do not need “honest dollars” during republican panics, we can get along without them between times. The bankers are in favor of this measure, it is reported, because it will make available a large supply of loan money, at a time when of all times they need available funds most, funds made out of wind, costing nothing but the printers’ bill and a small annual tax. Shades of Mark Hanna! What now comes of the unearthly howls set up in 1896, by the republicans, against fiat, 16 to 1, “dishonest dollars?” Was the millions, poured into the hands of Mark Hanna and George B. Cortelyou by the Trusts, Captains of Industry, railroads, insurance companies, banks and “business men” generally to save the country In the Bound money campaigns of 1896, 1900 and 1904—t0 save it from a free silver craze, the 16 to 1 fiat money craze—spent in vain? God forbid. Since 1863 there has been hundreds of millions of dollars of flat money in circulation, and there are now 1346,000,000 of these fiat dollars remaining in circulation. This money is based on the credit of the entire people, and if an emergency currency is to be issued, the entire property of the people is a safer basis against which to issue money than the property of the National Banks, or all other banks put together, for that matter. Banks should be put in a position

where they will haves to keep out of politics and be restricted to legitimate banking business. In the past they have had entirely too much influence in dictating financial legislation, and it to now time for them to step aside—and if they will not do so voluntarily, compel them to—-and let the people have a chance to dictate a little. It is not possible for them to do worse than has been done, and they may do a great deal better.

YOUR TAXES.

In trying to break the force of the charge that the Republicans, in managing the affairs of the state, had raised the tax rate in order to get money to meet their extravagant expenditures, Governor Hanly, in his speech before the Republican state convention, said that the rate had only been raised 1.35 cents on the SIOO of taxable property. He said that the present rate, as fixed by the last legislature, was only 33.35 cents and that the last rate fixed by the Democrats was 32 cents. But Governor Hanly did not tell all of the truth. The Democratic rate of 32 cents Included three cents for the state debt sinking fund. This left the rate for general purposes at 29 cents. The present Republican rate includes nothing for the state sinking fund, which leaves the rate for general purposes at 33.35 cents, an increase of 4.35 cents in the tax rate for general expenses. But this is not all the story* Not only have the Republicans, through their waste and extravagance, been compelled to raise the rate of taxation for general state expenses from 29 cents to 33.35 cents, but the assessed value of taxable property has been increased 60 per cent since the 29-cent rate was fixed by the Democrats and found sufficient for the state’s needs. As taxes at the 33.35 cents rate are now collected on 60 per cent, higher valuation, the people can get an idea as to why their burden has been growing heavier. The farmer has had a proportionately bigger part of this load put on him, but all other real estate owners have been hard hit by the same processes, as have also all other taxpayers.

ENORMOUS INCREASE IN COST OF STATE GOVERNMENT.

It is not easy from the bookkeeping in the state offices to determine the exact financial of the state. “ Doubtless this is the reason* why the financial statement was omitted from the published acts of the legislature of 1905. But the state auditor’s report for 1905, which few people see, sets out the total receipts and disbursements for the fiscal year ending Oct. 31, 1905, as follows: Receipts $9,260,827.07 Disbursements .... 9,127,868.36 The report of the state treasurer for the fiscal year ending Oct. 31, 1906, sets out the total receipts and disbursements as follows: Receipts $9,702,867.76 Disbursements .... 9,099,212.32 (The disbursements included nothing on the state debt.) The report of the treasurer for the fiscal year ending Sept. 30, 1907 (only eleven months, due to a change in the law as to the ending of the fiscal year), shows the following as to total receipts and disbursements: Receipts $9,159,625.83 Disbursements .... 8,067,001.71 (The disbursements included nothing on the state debt.) It will be remembered that the heavy receipts and disbursements for 'lhe' month of TJctober are not included in the 1907 statement because of the shortening of the fiscal year. No full comparison, therefore, can be made of 1907 with other years. Perhaps It was to prevent an understandable comparison that the fiscal year was changed. In marked contrast with the above report of Republican management is the report of the fiscal year ending Oct. 31, 1894, the last year the state offices were occupied by Democrats. The financial statement for the year 1894 is as follows: ... .... Receipts $6,848,967.65 Disbursements 6,458,456.36

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Excess of Disbursements 1905 over 1894..;. 2,669,412.00 Excess of Disbursements 1906 over 1894.... 2,640,755.96 This enormous increase in annual expenditures is out of all proportion to the real increase in the cost of administering the state’s affairs. The multiplication of needless offices, boards and commissioners, the increase in official salaries and reckless appropriations of money in all directions are some of the reasons for the growing burdens that have been put upon the taxpayers.

BANK STATEMENT. MSMSMMSMMMMSi■MMRSMMIMfiM REPORT OP THE CONDITION OP THE FIRST NATIONAL BANK OPRBNSSBLABR, IND., FEBRUARY 14. >9®« BBSOVBCas. , ’ LIABILITIM. Loans.. . *258,070 TO Capital Stock. .. *OO,OOO 00 U. S. and County Bonds. *7,800 00 Surplus and Profits.... 12,814 47 Beal Estate 9,450 00 Circulating Notes 15,000 00 *486,380 44 (488,880 44 DIRECTORS. . A. PARKISW, JOHN M. WASSON, B. L. HOLLINGSWORTH. President. Vice Presidents Cashier. JAMBS T. RANDLB, ™ "♦ ggp B , MURRAY.