Rensselaer Semi-Weekly Republican, Volume 40, Number 32, Rensselaer, Jasper County, 27 December 1907 — The Political Pot. [ARTICLE+ILLUSTRATION]

The Political Pot.

W. J. Bryan is quoted ns being in accord with much of the President’s message to Congress. In particular he likes the recommendation that the government pay the expenses of elections, only he would add a provision against private contributions. He also strongly approves of the postal and guaranteed banks. Upon the eve of the opening of Congress Representative Fowler of New Jersey, head of the House banking and currency committee, issued a prediction of coming financial tragedy of far greater proportions than the present panic unless we stop issuing a fixed fibnd-secured currency He says that the banks of the country to-day have about $12,000,000,000 in deposits and about the same amount of loans outstanding, against which they hold reserves of only $900,000,000, of which $200,000,000 is in Tank note promises. This he calls “the worst and wildest forth of He defines as “basing one credit Upon another credit." Hence he deems the credit currency the safest because it would always be sent to bank of issue promptly and necessitate proper reserves. The letter written by Senator Foraker of Ohio in response to the resolutions of the Ohio Republican League committees last week was his formal announcement of willingness to accept support to the end of his becoming the candidate of the party for the presidency. the Senator virtually laid down his platform by saying he will stick to his policy of opposition to executive encroachment >.nd by opposing tariff tinkering. Three daughters and one son of Samuel W. Carpenter of Allegheny, Pa., bars •loped in a year.