Nappanee Advance-News, Volume 29, Number 35, Nappanee, Elkhart County, 28 October 1908 — Page 4

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THE NAPPANEE NEWS Nappanee, Elkhart County, Ind. Entered at the Post-office: at Nappanee Ind., as second-class matter. ' K ' A Paper For The People. TERMS OF SUBSCRIPTION: One copy, one year $ 1 50 One copy, six months 75 One copy, three months 40 By Gordon N. Murray. „ The Prohibitionists say they expect to poll a large vote in the State next week. Since the continued drouth has been broken, coming of the rain will no longer be regarded as, being ‘•contingent” uport the election of any particular candidate, In a letter to his father, Will Stuckman, who for years was a well-known Republican "in Nappanee but is now rin the regular service; of the V. army,"advises” hlsTf other to vote for Bryan. * This campaign will go down in history as the race of the two “Bills” but, will future generations rise up and call us -tyessed? Now don't all answer at once, and say: Yes. if we elect “Bill” . There is a suspicion that the construction of the traditional salt water craft is being neglected, as both Republicans and Democrats continue to believe that the other fellows'will need it this time. " The fellow who tries to attract business without advertising, is like the fellow who throws his sweetheart a ' silent kiss in the dark, says an exchange—he knows what he’s doing, but nobody else-does. There is just one thing lacking in this campaign. No public speaker of national renown has told the people ions economy the court house has been repaired—and too, at the auspicious time when many of the taxpayere are in a receptive frame of mind. —Tablets at the News Bookstore.

The expense of “repairing” the court house is to date given as $156,328.80, or $106,328.80 above the original estimate. That was a close (?) guess, surely! It looks afe though the taxpayers are prepared to swallow anything at anytime so longas it is given them by their own party leaders. The Democratic central committee of Elkhart county is paying the Elkhart Truth to send copies of that paper broadcast over the country.—Advance. r Our Main street contemporary takes some exceptions to the procedure. At the same time the Advance is being sent” out in the same manner by the Republicans. The only difference the News can see, is, that the Truth has not “blown” about its circulation. The man who started the story around town that the editor of the News had taken an advertising bill of the Watson meeting from the window of the store and burned it, was simply a liar. Nobody ever offered to ,hang a biii of"the- Watson "meetingTn the’ News Bookstore window. If the fellow had read the News he would have found the Watson meeting advertised several times like other meetings, and without charge. Presumably the lie was started to even up some such incident taking place at the Advance office the same day which Democrats resented! Again the statement of the News lias been confirmed that the bank guaranty proposition had the endorsement of leading Republicans in all parts of the country. Correspondence published in the Elkhart Truth of Saturday discloses the fact that the late Congressman Brick favored the principle. It may be political expediency to now ridicule the-proposi-tion, but it is not business, to say the least. It is only a fair illustration of what public speakers and political organs must perform in the sawdust ring of acrobatic politics, regardless of the interests of the people, in order to please the audience which pays to see the show. —Copies of the News magazine edition will be mailed to any address at 15 cents per copy.

We heard Henry A.‘Barnhart, the Democratic candidate for congress/ make a speech at Wakarusa recently. He gave a clear-cut talk for his party platform which everybody could understand and to which no offense could be taken by those who were of any other political faith. Mr. llarnhartds not a orator; but he is a gopd talker; not a politician in the sense of being a manipulator, but a plain newspaper man who knows some things and has the happy, faculty of expressing himself orally, as well as on paper. Mr. Barnhart will be here in Nappanee on Friday afternoon with the Democratic candidate for governor, Tom Marshall. Some of the greatest muddled arguments against the bank guaranty principle ‘have been handed readers of newspapers within the past few. weeks that were ever promulgated in a campaign on any issue before the voters. For instance, here comes a writer in the Chicago Tribune and says: “I want to keep my own money as far away from the bank that is traveling under a political saddle as I can, and it seems to me there is no use denying the plan proposed by Mr. Bryan and his followers will put the banks under the political saddle to a much greater extent than they now are ” He in no way shows how a national law requiring the guaranty of the funds of depositors will place the banks in the “political saddle” anymore firmly than they now are by the law which requires .the guaranty of public funds. On the other hand, the same writer would have the government establish the postal saving banks, which would necessarily bring the banking business into the “political saddle” more directly than the simple process of requiring the guaranty of individual deposits by the banks. In the first instance, the government would not be in Che banking business any more than at the present time, but in the case of the postal savings bank the government would become direct competitors with the bankers of the entire country and make the business one of political concern in fact. It is pretty difficult to tell just what the political hue of the Nappanee News is. In fact its political policies seem to be somewhat like Mr. Bryan’s, ever changing.—Nappanee Advance. The first sentence of the Advance editorial is a frank admission. If thatis an honest expression, the News will offer no apology for our contemporary having published it. The News for some twenty years has advocated men and measures to suit its own convictions, not because they were those of any political ,party or clique. This is what is known to the newspaper fraternity as independent journalism—not an “organ” or not •‘neutral.” Some people need these explanations, that they may easily understand why they can not tell the Political hue of the News. The Advance is among that number, Our contemporary enlarges on the above sentence, seemingly, in objection to the change of political policies of the News. The. Advance ought to accord the News all those‘newspaper privileges it claims for itself, at least. The Advance announced that it wbuld be an “organ,” by continuing the policy of the'paper "as when’ jjnder a former proprietor. Then it announced it would not be an “organ”—of the Republican party, (perhaps because the editor was a Democrat or for some other reason.) Now it is an “organ.” These changes have been all made in less than twenty months. Now our contemporary is “making faces” because the News announced a change of its policy once in twenty years. Now, what do you know about that? Readers of this paper-have access to some of the best newspaper work of the day, not, only in its regular jpuoto of news, but also in special features presented each week. "TheTlh” lustrated article presented llat week of the forest fires was a splendid piece of work by the A. N. Kellogg Newspaper Cos. who furnish the ready printed sheets for the News. As news gatherers and for judgment used in selecting matter for weekly papers, paper office in the United States. At least, we have never come, upon anything in our thirty years,experience that equals this particular service. When one considers the expense of producing information of an up-to-

date character and litetary merit equaled to high priced magazine it points out the wonderful progress in country journalism in the past quarter of a century that no one would have dared believe much less have hoped for in years past. When we compare the News of this day with the newspaper issued by the writer’s father in 1837 at Goshen, one of the pioneer journals of Northern Indiana, it opens a flood in memory of the progress of journalism which has been in keeping with national progress in all the avenues of industrial life, that would sbartle the oldtimers could they return from the great beyond t 6 behold again the work in their chosen profession. Indeed, readers of country weeklies scarcely appreciate that, which they now have brought to their doors—the news of the wide world together with the local happenings—for so small an expenditure on their part. THE ADVANCE AND ITS FORE- , -V CASTS. The next Republican .nominee for the presidency will be Theodore Roosevelt, the next Democratic nominee, William J. Bryan, and the next president of the United States, Theodore Roosevelt. Now see if that prediction won’t hold good.—Nappanee Advance of Dec. 18. Charley Miller seems to have the nomination for governor in his hands already, despite tile claims of Congressman Watson.—Nappanee Advance, Feb. 20th. The uncertainty of politics is peculiar. Only a few months ago Bryan was the idol of the democracy and his nomination at Denver next June was assured. Now it-is just as certain he will not be nominated.'—Nappanee Advance, April 22d. There are a number of Democrats in Nappanee who will not vote for Bryan.—Nappanee Advance, July 22d. It . now develops that Nappanee has a real political forecaster. He is no other than our friend, Gordon Murray.—Nappanee Advance of Oct. 14. POLITICS VS. PATRIOTISM. There is a remarkable contrast in the tone of certain newspapers, both great and small, and of some bankers as well, in what they proclaim to believe if Mr. Bryan should be elected and what they thought and said last fall when the bank panic struck the country and paralyzed business. In fact, the situation called for the best thought of patriotic men. The panic, from which the country has not yet recovered by any means, was one in which partisan advantage might have been taken of the Roosevelt administration and broken many banks and placed the business of the country in such straits that it would have taken ten years to have recovered. The men who are now writing and talking to the people of what dire things are to happen unless their party is success-; ful are as unpatriotic to the business interests of the country now, as any person could have been last fall had they advised people to withdraw their money from the banks and quit business until things were again righted. There is no difference in principle between the times of trying to create a panicky feeling among the business interests of the country. It might have been used by the Democrats last fall as a means to an end. Instead, however, every means was used by press and pulpitand leading politicians in both parties to quiet the fears of tl>e people. The man who is now as-'sa-iled-_('MT'.-B'ryaii) as dangeroustn The* country lent his influence as a party leader To placate the distrustful feeling of the people. Here is what he said on several :.* “This is not the time to gain partisan advantage. It is the time for every patriot and honest man in the country to place country above party to do this first because of the whole people,- rich and poor, and secondly, because of the laboring men, who are out of work, and wfyo must bear the main part of the burden which will result from this panic. Help the banks now, help them by leaving your dollars in the bank.” The press' everywhere commended this lofty sentfment without reservation. While it will make no difference to the status of general business affairs of the country who is elected President in one week hence, there Is this fault to find with such methods: It simply dwarfs the faith of the Americarnpeople in the amount of patriotism many of them possess during a campaign when political bias takes absolute control of party leaders because of a "desire to defeat their political opponents at ■'all hazards. When not warped-and dwarfed by a campaign of prejudice, Republicans, Democrats, and Prohibitionists, are •r" A considered one to the other very good business ptpmoters. It Is patriotic to

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discuss political issues, one or the other code of principles must be necessarily adopted as being the best national policy, but it ought to make a man feel like thirty cents to try to destroy his neighbor’s prosperity and faith in humanity simply to gain a political advantage. THE ADVANCE IS AGAIN WORRIED Tile Nappanee Advance is again worried over the politics of this paper. This is not given here as a matter of news information, as the Advance always has been more or less worried over this same matter. That paper was born as a “clique organ” and has never been able to get beyond the pales of its narrow field which circumscribed its birth, notwithstanding it has had four different proprietors. % Under its last regime it started in to blaze away at everything in sight just to show its independence and wonderful ability, don’t you. know—and incidentally its ignorance of the fitness of things. . Illustrations are not necessary at this time. Then to show its constituency that even a Democrat could publish a Republican paper, it assured them that the political policies of the paper (whatever this meant) would not be changed. Later on, in its attempt to obtain Democrats and Prohibitionists as its patrons who had been eliminated from its support by a former publisher, the Advance announced that it would not be an “organ” hereafter. Its intimation that it would try for the local 'field occupied for twenty years by the News was not presented so strong in its columns as it was on the side-lines. This side-play was worked very hard before the campaign,was put on in earnest, on the grounds (with certain men) that the Advance editor was a Democrat,* and the Democrats wpyl.d get a “square deal.” Whatseems to bother the Democrats and Prohibitionists now, is the conundrum: “When is an “organ” not an “organ?” When the News intimated that its long continued policy might ,be changed, the Advance began to get under cover and the “organ” business of the paper became its most prominent feature, and the “essentially a newspaper” feature had a set-back at once; In the capacity of an “organ,” tlie fellows who have always thumbed the touchjhole of the Advance could not Jlytf'Tu perfect comfort without shooting at the News. This is no particular misfortune for the News as it has demonstrated for twenty years that the paper has been able to take care of itself on all occasions. This situation, however, smashed the following good resolution of the Advance published March 4th, last, when it said: “And let it be known in this connection- that the Advance will not be led into a controversy with the News. Nappanee has had too much of tb&k already.’,’ The News accepted •the resolution as earnest, and for months had no disposition too refer to its contemporary,' though now and then a ‘“fling” to

please the “managers” was continued in that paper. This is the statement anjj sentiment of the Advance ' which looks good in print; “No matter What one’s political beliefs are, it is far below the standards of true manhood to misrepresent.” But in the same issue that paper misrepresents and misquotes its contemporaries and renders the sentiment valueless as applied to itself. It continues to misrepresent the News, by getting its information from those who, to mention the name of this paper in their presence is like shaking a red rag in front of a bull. BANK GUARANTY. Indianapolis News. At the convention of Nebraska bankers Professor Laughlin, of Chicago University, condemned bank guaranty in a long address in which he made some mistakes in figures and things and spoke of those that be-, lieved in bank guaranty as childishly ignorant, impertinent in advocacy and guilty of astounding ignorance of the fundamental principles of banking. Nevertheless George M. Coffin, of New York, former Controller of the Currency, replies to Professor Laughlin in the Financier, showing that he is wrong in saying that depositors do not make banking profitable; that practically all dividends come from the use of deposits, the investment of capital and surplus barely paying expenses and fixed charges. In thirtyeight years, ending with 1907, national banks averaged 8.58 per cent, of their capital and surplus as net earnings. Last year the netearnings were about-12 per cent, a sum total of $169,-' 000,000, which they earned because they held more than $5,000,000,000 net deposits, “of which probably $4,000,000,000 was Intrusted to them by nonborrowers". In forty-two years, end-.-ing 1900, the net average annual loss . to depositors has been SBOO,OOO, or onethirteenth of 1 per cent, on the annual average of capital and surplus for that period. On this Mr. Coffin asks: Is there any good reason why the stockholders who received $169,000,000 profits from the use of* depositors!— money in 1907 should not be willing to pay SBOO,OOO. [The annual average loss was as low as $50Q,000 in recent years], for tire better protection of these depositors and for their own protection as well? Correcting Professor Laughlin’s mistake, Mr. Coffin says that in last year’s panic the closed banks Os New York held $145,000,000 of deposits and those that had serious runs held $100,000,000 more."' The trouble started in a national bank and carried down three others. As it turned out afterward, all were able to pay their depositors in full, and so Mr. Coffin argues that with a bank guaranty law in force there would have been no loss to the other banks, and the business interests of the whole people would have been spared the enormous losses and prostration which has now lasted a. year, and is not yet ended. This brings out the basic idea of guaranty which, Mr. Coffin says, is to*control (Continued on Bth page.)