Richmond Palladium (Daily), Volume 33, Number 204, 6 September 1908 — Page 4
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PACK FOUR. THE RICHMOND rALLADl U3I AND SUN-TELEGRA3I, SUNDAY, SEPTEMBER 6, 1908.
TOE RICHMOND PALLADIUM AND SUN-TLEGRAM. Publisnetl and owned by th PALLADIUM PRINTING CO. Issued 7 djs each week, evening and Sunday morning. Office Corner North 9th and A streets. om Phone 1121. Bell 21. RICHMOND. INDIANA. Rudolph O. Leeds HiDaclag Editor. Charles M. Bforccaa Business Manager. O. Owen Knhn Sews Editor. SUBSCRIPTION TERMS. In Richmond 1 5.00 per year (In advance) or 10c per week. MAIL SUBSCRIPTIONS. One year. In advance .' J3 00 Six months, in advance 2.0 One month. In advance 45 RURAL ROUTES. One year. In advance $2.00 Six months, In advance 1.2S One month. In advance.... . .25 Addresi" changed as often as desired: both rf and old addresses must be given. Sub: s will please remit with order. u:h should be given for a speoitl: tprm; name will not be entered uiivH payment Is received. Entered at Richmond. Indiana, postoffice as second class mail matter.
REPUBLICAN TICKET. NATIONAL TICKET. For President WILLIAM HOWARD TAFT of Ohio. For Vice-President JAMES S. SHERMAN of New York. STATE. Governor JAMES E. WATSON. Lieutenant Governor FREMONT C. GOODWINS. Secretary of State FltfcD A. SIMS. Auditor of State JOHN C. CILLHEIMER. Treasurer of State OSCAR HADLEY. Attorney Genera! JAMES BINGHAM. State Superintendent LAWRENCE McTURNAN. State Statistician J. L. PEETZ. Jude of Er.prerce Court QUiNCY A. MYERS. JuJjre of Appellate Court DAVID MYERS. Reporter of Supreme Court GEORGE W. SELF. DISTRICT. Congress WILLIAM O. BARNARD COUNTY. Joint Representative" ALONZO M. GARDNER, Representative WALTER S. RATLIFF. ( Circuit Judge HENRY C. FOX. Prosecuting Attorney CHAS. L. LADD. Treasurer ALBERT ALBERTSON. Sheriff LINUS P. MEREDITH. Coroner DR. A. L. BRAMKAMP. Sutveyor v ROBERT A. HOWARD. Recorder WILL J. ROBBINS. Commissioner Eastern Dist. HOMER FARLOW. -Commissioner Middle Dist. BARNEY II. LINDERMAN. Commissioner Western Dist. ROBERT N. BEESON. WAYNE TOWNSHIP. Trustee JAMES H. HOWARTH. Assessor CHARLES E. POTTER. BANK GUARANTY FALLACY. The bank guarantee is not a new thing. The scheme which Mr. Bryan . has industriously exploited came from China many year6 ago. " When Martin Van Buren was gover nor of the state of New York, Joshua Forman, a citizen. of Syracuse, was the sponsor of the scheme. Forman has left the following memoranda: "The propriety of making the banks liable for each other was suggested by the regulations of the Hong Kong merchants in Canton, China. There a number of men actir r-arately have grant of the governnxnt the exclusive right of trading with foreigners and are made liable for the debts of each other in case of failure."' In 1820 the scheme was suggested to .Van Buren. The legislature passed a ! law compelling each bank to put into ' the hands of a treasurer an amount equal to three per cent of its capital. When the three per cent was reached the accumulations were distributed among the contributors unless the insolvency of some bank drew from the fund. " Everyone knows that this banking system did not continue. Let us see what happened. The history of the time throws an Interesting light on the subject The 'Invitation which the 'blanket guaranty' offered to entrance Into the tanking business was not lost on the general public. The public mind was .further excited by the general belief that President Jackson was about to abolish the National Bank of the United States, and that this would give further opportunities for banking. As a result a regular mania banks set in. for making ! Tajnmany hall seriously considered
starting one 'to pay Its debts and a big fire In New York led to a wild de-
mand for a bank to 'make up the loss. try has 6ucll a future for genuine good Four men were found printing bank as fcas organized labor. From weak notes In a New York garret and were and misguided and unintelligent efset free by the police when they 'de- forts the labor unions have arisen to i dlared that they were a bank. In a powerful and intelligent vehicles forj short time Institutions were formed the public good, j with an aggregate capital of $90,000,- Those who have traced the history CCO. a 6um all out of proportion to any 1 0f the labor unions from their early ; real banking needs of the community beginnings in the fifteenth century as of that day. 'craft guilds; those who have studied.
"There was also the most harmful t
speculation In bank stock. Under tion and discontinuence of these same the guaranty plan these stocks were ; craft guilds. And those who have most readily marketable with the pub- followed the rise of the "trades union" lie and stock certificates were turned in 1S30 to the present time have come out in an overwhelming supply, the : to one conclusion. Briefly the conpromoters reaping a handsome profit elusion is that all efforts of the union on the sales. must be inte'ligent and in perfect "The 'safety fund' -Itself went along j fairness. The elements of downfall in swimmingly as long as times were the past have been entirely along
prosperous, but in tne nara times or i 1837 the guaranty banks refused payment In body and the state was helpless. The guaranty scheme was thown to be utterly unable to cope with such a condition and the legislature was forced to pass an act authorizing suspension of payment for one year. "It was not until 1S41, however, that the real weakness of the guaranty fund was wholly exposed. In that year came the first actual failure of a safety fund bank, when the WTayne County bank of Palmyra closed its doors. The president of the institution was short ln his accounts, and the associated banks were compelled to shoulder an indebtedness of $132,000. This failure started others, and in a short time ten banks had closed their doors. It was seen at once that the guaranty was going to be inadequate, and there was general fear for the solvency of almost every bank in the state. "Under the ruling by the state comptroller it also became more clearly apparent that the safety fund was to be used to pay all debts of the banks. This fictitious credit was at once abused by some bank officials in recklessly contracting debts for the benefit of themselves, leaving the state to pay the piper. The comptroller officially declared that the good banks had been 'great losers by the swindling operations of some of their associates,' and urged the issuance of bonds to stave off the whole system from bankruptcy. The legislature passed an act making the guaranty apply only to note circulation and the deposit guaranty system came to an unwept end. The safety fund was not formally abolished, however, until 1840." In connection with this proposition Albert Gallatin (who was secretary of the treasury under no lessa democrat than Thomas Jeffeson,) said: "The annual tax of 1 per cent. Imposed under the name of 'safety fund,' is unjust toward the banks which are well administered and injurious to the i community at large. To make one bank responsible for the conduct of another, sometimes very distant and over which it has no control, is a premium given to neglect of duty, and to mismanagement at the expense of the banks which have performed their duty and been cautiously administered." The Chicago Evening Post has Interviewed leading bankers of that town and they tell the same story: "I cannot see how it could be considered fair to compel one man to guarantee another man's business." Willia'm A. Tilden- president of the' Ft. Dearborn National Bank. "Any man who cared to open a bank would receive the same guaranty as would the banker who had worked years in building up his institution." D R. Forgan. President National City Bank. "It would give the careless or negli gent bank president the same, guaranty as would be extended to the more scrupulous financier. Thus an incentive would be held out to Irresponsible persons to enter the banking business." F. L. Wagner, President of the National Produce Bank. "I should think it very unfair If my
stockholders should be subjected to a j ing." That trade unions have acted tax to pay the losses of banks in the j on this is a matter of common knowmanagement of which they have no ! ledge. 'Their future seems brilliant
voice." E. S. Lacey, President of the Bankers' National Bank. ' "Under a system of federal guaranty the rewards of conservative banking and the restraints and recklessness , . . would be removed." G. E. Roberts, President of the Commercial National Bank. "The personel and responsibility of the individual banks would deteriorate until their mutual guarantee would not be worth much."-E. D. Hulbert, PresIdent of the Merchants Loan and Trust Company. ; But what need to go. farther. The j unanimity of opinion in 1908 and of Albert Gallatin in 1S41, tell a story which should be convincing. Brvan bas beeQ ugiEg tnig wmellt araong the farmers of the WesL What vould the farmer say u they were ed to guarantee the debt of other farmers over wnose farms tbey had no CQn f trol? Is that fair, stm there an : morA farrnp,s than tanvr. The Charlotte Observer (X. C.) regrets one Bryan dollar raised there.
LABOR AND PROGRESS. No force ln the hlst0ry of the coun-
the forces which led to the dlssoiu- i tnose nnes The future of the organizations of labor areindeed bright and splendid if the brilliant record be maintained which has already been set. But it must be remembered that the solid, contributions to the welfare of the country and the cause of labor have been constructive rather than destructive, they have been peaceable rather than violent and educated rather than prejudiced. All work (and there Is much yet to be done) must be accomplished along these lines. It. is greatly to the credit of organized labor that in these latter years the majority of the members have acted upon these principles and as long as they continue to do so they will have the confidence, the respect and the sympathy of the people. The demands of labor for the abolition of child labor, the fair share of profit, the liability of employers in dangerous pursuits and the shortening of the working day must of necessity come to a conclusion which is satisfactory to labor. Much has been done already the questions must be dealt with quietly and intelligently until the object Is attained. It was only a few months ago that that most conservative and time honored Institution, the English church startled all England in Its declaration that "the church had not only taken up the cause of labor but was responsible for the condition of laboring men. Moreover the time must come when each "man must have a share in the dividend of the occupation in which he is engaged." Coming as it does from this source it should be an indication of which way the 6traws are blowing. Co-operation when conducted on sensible principles has been successful and a paying Investment. We can not now see the time, nor the means. But the means will be at hand at the proper time and the arrangement filled with extreme justice. The labor unions have happily come to see that labor and capital have in the main the same interests any antagonism of labor by capital or of capital by labor is not beneficial to the common weal. The arbitration of labor disputes which are bound to arise is a most hopeful sign. The strike although it has its just uses is an economic waste. With the introduction of education into unionism things have gone for the better. Ap authority on economic history says: "So in the history of trade unionism as men learned to read and think, although the objects which they stood for were the same as In the past the spirit was more clear; hence the power brought to bear was stronger and compelled the government to consider them as a source of power not to be disregarded." Such must more and more be the case in the future. With an intelligent grasp of the situation the union will be more powerful not powerful ln a selfish way but powerful for the good, for the right and for the betterment of all. Long ago a trade journal gave the same good advice; "get knowledge, and in getting knowledge you get power. Let us earnestly advise you to educate, get Intelligence instead of alcohol it Is sweeter and more last- ; and certain cf success. Clear thinking and education will bring the trade union Into a realm of poer and respect which can be as far ahead of. what today seems Satnes3 ana spienaia achievement i THE FLEET AND DIPLOMACY. The American fleet has sailed awav from Melbme amid cheermg and ; the salutes of London papers ; and Australian and New Zealand jpapers afe-full of it and they 6how i evident ' eood will toward the United j stateg ad unbounded admiration for the performance of the fleet j The London Spectator especially j shows a disposition to regard the pure ly nautical reat as nothing short of marvelous and says: "The prompt arrival of the United States fleet at Auckland. In accordance with its program must have convinced all onlookers if the fact had not-already dawned on them that the rumors of gTave defects in the ships when they started on their long journey were quite unfounded. One ot tha out arowths of thm Heat
has been the rise of anti-orientalistic talk. The colonies in the South Pacific are in much the same position as our western states In their position on oriental Immigration. "The popular rejoicings of which we have spoken are primarily and sincerely a demonstration of friendship for the United States. They are also in the back ground, a demonstration against Oriental immigration into White Men's land," so speaks tlie London Chronicle.. . It will be amusing when the fleet finally reaches its destination, Japan, to read the profuse protestations of amity and friendship of cordial good fellowship etc., which will of course emanate from the Nipponese press. How friendly everything will be. Truely. this cordial entente and most favored nation business is past all understanding. Diplomacy, how many lies and dissembled faces are due to your influence.
A LITTLE SUNSHINE. No greater blessing than the very hospital itself is the movement which is being made throughout the land for reading matter in our hospitals and other charitable organizations. Under the spell of an Interesting tale the sodden sullen care disappears cruel pain is for a moment or two forgotten. Doctors have recognized the fact that in the case of convalescents the thing is to get the mind of the patient off himself to stop the morbid self examination, the wild but futile impatience. How much more beneficent then to give to the incurable something to' take his mind off the thing which is eating him. away by inches and minutes. Everybody has somewhere or other a lot of old magazines and books books which are many times in the way there is no more fitting way to dispose of them than by sending to some Institution where they will gladden the heart of the suffering. If we accept the factional fights the campaign this year is pretty dull. A good story is going the rounds which is indicative of popular opinion on the subject. "What do you think of Taft" asks a man of a Swede newly come to the United States. "O I tank Taft yust all right." "What do you think of Bryan?" "O I tank Bryan yust all right." "Well, then which do you think has the best show?" "O I tank Barnum she have the best show." NEWS INTEREST AI Gubernatorial Contest in New York Being Watched With Care. NAVY DEPARTMENT MIXED. SOMEWHAT INDIGNANT AS DISCRIMINATION AGAINST SAILORS IS FATAL PLANS TO DIVIDE FOREST SERVICE. Washington, Sept. 5. Interest here in the New York gubernatorial situation is so intense that politicians even are in danger of forgetting that a pre sidentlal campaign is on the boards. The fact that Taft and Bryan are run ning for the first office in the land is hardly mentioned except as it may be affected by the situation in New York. Sentiment can no better be described than to say that democrats are joyful and republicans apprehensive. Republican rejoicing over the results in Vermont was dimmed by the fear that the factions in New York may get so far apart that hey cannot be brought together by November. It would be presumptlous for any one in Washing' ton to say whether it would be better politics to renominate Gov. Hughes or to place another at the head of the republican ticket, but there can be no disputing that the conflict is highly deplorable from the standpoint of national republican politics. While republican differences in other states are being composed, there is increasing bitterness between republican factions in the most important state in the union. There is a disposition in some quarters to blame President Roosevelt for the present situation. Maybe this is because the president's Bhoulders are broad and he can carry the blame without seriously disturbing his equinimlty. The assertion is made, however, that had Mr. Roosevelt spoken a month, or even two weeks ago there would have been no opposition to Hughes worthy of the name. He kept silent, it is asserted, until the antiHughes leaders had perfected their plans for displacing the governor and at this late day the leaders refuse to abandon their plans. This Is probably true so far as it goes, but it doesn't do justice to the president's position. The anti-Hughes leaders urged Mr. Roosevelt to keep hands off. assuring him that the cause of harmony would best be served by allowing New York republicans to settle the governorship matter without his interference. Some of the men who thus urged the president had been Mr. Roosevelt's warm friends and staunch supporters, and he could not turn a deaf ear to thalr arguments. He agreed to say
WASHINGTON
BECOME 'A' WTESTMIT in the Great Want Ad. Contest of the Palladium and Sun-Telegram. Now is a splendid opportunity to enter the Palladium and Sun-Telegram's great classified ad contest. The advertising public of Richmond is just beginning to take great interest in this unique contest and the boy or girl entering this contest now has a fine opportunity to win a handsome prize, which will be given in each district in which a contest is carried on. Every boy or girl should have the ambition to win out in this contest, not merely for the handsome prize, but for the feeling of success which will accompany it. The boy or girl who has the ambition to win, no matter what the undertaking, experiences a feeling of success early in life, and as they grow older, it hecomes a part of them to succeed in anything they undertake. Let today be the turning point of each contestant. Let each determine to win in their respective district, so that at the end of the contest they can proudly say, "I have the ambition to wiirand the determination to carry out my ambition and this is just the beginning of my successes which will be numerous in years to come." This contest is not necessarily a small child's contest. Any boy or girl in school, in high school, or even in college, can participate. The older the contestant is, the greater their chances for success. The art of "want ad" soliciting is a business to which many men devote years of study and naturally the contestant experiences , some set-backs. The way to win out in anything you undertake is to remember and act upon
the old maxim, "if at first you don't succeed, try, try again," and it is just such boys and girls as this who are rewarded with success, rot only in their first undertaking, but in their after life of business, so let us all make a new start today with the determination not only to be the successful one in this contest, but to make a success in every undertaking in life. Bring an advertisement to our office today or tomorrow and let us enter your name in this contest. You will be entitled to two hundred votes for the first advertisement brought to our office. If you are already a contestant, start afresh today, bring at least one advertisement to our office and let us talk with you and give you information which will be helpful to you in your work. ' Below is a list of the contestants showmg the standing in each district today. Yoi will notice that there is still a great opportunity for anyone of the contestants, or for any one entering the contest now, to win a handsome prize and to experience the feeling of success. Work for your success.
DISTRICT NO. 1. VOTES. William Hilling, 1123 Sheridan 220 Grace Rae Davis, 907 Sheridan 200 DISTRICT NO. 2. Floyd Flood, 137 Richmond Ave 210 DISTRICT NO. 3. May Weiss, 129 South 6th 320 Howard Siekman, 316 S. 6th 310 Bessie Smith, 17 S. 5th 210 Ida Corcoran, 17 South 4th 200 Elizabeth McElhany, 427 Main DISTRICT NO. 4. Russell Parker, 207 South 11th 200 Henry Schneider, 226 South 9th... 200 Lee Genn, 120 South 10th 200 DISTRICT NO. 5. Russell Stout, 217 S. 13th 200
nothing until such time as he believed the interests of the naTlonal ticket and the party at large were jeapordized by his silence. That time came and the president spoke for Hughes, but it was then too late to effect a harmonious adjustment of the dispute. At the navy department indignation is mingled with amusement. There is indignation because a number of sailors from. the president's yacht Sylph were denied the privileges of a dancing pavilion at Oyster Bay, and amusement that the incident should have happened in the president's home town. Discrimination by amusement managers against sailors and soldiers in Uncle Sam's uniform has come to be a very serious matter. Men cannot be induced to wear the uniform if it is to be a badge of ostracism and there is certainly a need for men ln uniform. A number of towns where such discrimination has occurred have been punished by the withdrawal of war vessels from their ports and a means of punishing individual offenders is being sought President Roosevelt has been especially severe in his strictures on communities where the uniform has been discriminated against and in Washington not long ago he attended a theatrical performance at which enlisted men in uniform were the guests of the management. Some curiosity is expressed to know what President Roosevelt will say to and about the people of Oyster Bay. Plans are under way for dividing the United States forest service into six administrative divisions with headquarters in six cities located as closely as possible to the great national reserves. It is declares this plan will make for increased efficiency even if it does not result In economies. The Forest service undoubtedly, Is a very necessary and very useful governmental bureau and it also is ur doubtedly the most- extravaeantly a ministered of all the bureaus of the government Gilford Pinchot tb' chief forester, is a very rich man wh' gives his time to the government dp cause of his interest in forestry ant3 his official salary to Yale universitr because he' doesn't need the money He isopposed to paying any largesalaries than he can help, because hp thinks people should serve the government without thought of gain, but there his ideas of economy are at an end. For equipment and supplies money is poured out like water. Ah assistant forester can requisition for any object he can think of. no matter of how little use or how expensive, and he gets it There is no such thing as a uniform outfit for a man In the field. Each field worker decides what he would like to have la his kit and
sends In his list No Questions are asked but the things are bought The same lack of system covers the entire bureau. Mr. Pinchot no doubt is a patriotic and valuable public servant, but if the chiefs of all the other bureaus had the same aristocratic ideas about expending the" people's money the government would not have a long Journey to bankruptcy.
NEBRASKA'S CORN CROP. Omaha, Sept 5. The Burlington railroad crop report says that corn ln central and southern Nebraska will be a 100 per cent crop, with a yield of from 33 to 45 bushels an acre. According to the statement, the corn has improved greatly In the last ten days, there having been rains almost nightly, with hot sun during the day.
The Value of Good Digestion Is easy to figure if you know what your stomacn is worth. Kodol keeps the stomach at par value, by insuring good digestion. Kodol cures Dyspepsia.
Kodol insures good digestion by absolutely duplicating Nature's normal process, in perfectly digesting all food taken into the stomach. While Kodol is doing this, the stoTTch Is resting and becoming "Strong and fclthy. A strong and fce&ttbr stoiaarn guarantees a und and active brain. The man with a sound stomach a stomach that is doing for the body Just what Nature intended It to do is the man who is always prepared for any emergency. He Is "there with the goods " The man with a sick stomach, I' a man sick all over. When th stomach is irrit-ed by undigeste food, the blood ind heart are rectly affected, rhen dullness, nn natural sleepin , sick-headachea. vertigo and f; ing spells, and ven serious br. i troub'e develop. Kodol will prevent these. Spurring the stomach and brain
COR. om and 1VIAIIM STREETS. FURNITURE BEDDING PICTURES
DISTRICT NO. 7. Doris Shesler, 24 North 6th .820 Rose Mercurio, 19 North 6th 370 Leslie Sinex, 200 North 5th 200 Charles Morgan, 311 North 5th 200 DISTRICT NO. 8. Ernest McKay, 1028 Main ... 490 - DISTRICT NO. 9. Eugene Hay, 402 N. 16th 210 Clarence Love, 229 North 18th 210 Russel Guyer, 15141 Main ...200 Carl Sieweke, 1413 North B 200 Geo. Pettibone, 409 North 16th 200 Paul Brown, 402 N. 17th DISTRICT NO. 10. Lida Hopping, 1322 North F 530 Ruth Davis, 818 North H - 220 Frank Cummins, 800 North 12th 200 Willie Moss, 820 North H St Daniel Van Etten, 1108 N. I street Bryan Cooper, 916 N. 12th William Stephen, 900 N. 12th
BELGIUM GROWS WEED. Tobacco Cultivation Is on the Increase. Brussels, Sept 5. Belgium has under cultivation over 5,000 acres of tobacco. Formerly most of the tobacco used for manufacturing purposes came from the United States, but these Imports are being greatly reduced, because of the higher prices of the American tobacco. DECREASE IS SHOWN. Berlin, Sept 5. Germany's annual emigration has decreased from 210,547 while the emigration from AustriaHungary has increased from 74,000 in 1890 to 262.833 in 1907. to special effort by "tonics" and "stimulants" doesn't cure anything, or accomplish any good. Neither does dieting. Indigpstion and th serious ailments which It induces ran be averted and corrected only by natural means. Kodol supplies this ratural means. It performs the stomach's work for it just as the stomach hould perform It while th stomach takes a little rest '.'for the stomach's cake." Our Guarantee CJo to ynr lmgrit tnf e4 r"M a CnU Ur hot i.e. Then alter joa hi.Tr nrd Ik entire content of tbe buttle If you can honestly that tt ha not done jroa cr food, ret tiro the boll! to Ihtdrne; :it mt.i be wiil refund your moi.'j without nunt ion or deiay. W win tnea pay tbe orcf firt for tbe buttle. Don't hesitate, all droRinta know that onr jruaraniee I good. Thia offer apflWa to tte ,rce butue oaiy and to but one in a family. The Js.rre tnot. tie ciratalca tiaoea aa jcoca as tht Cfti cent bottle. Kodol is prepared at the lab-5r tories of E. C. De Witt & Co., Chicago.