Star-Democrat, Greencastle, Putnam County, 30 October 1908 — Page 9

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Farmer's Friend

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I DENNY & RANDOLPH TlVl E. Franklin St.. Greencastle

FOR SALE—

I..T E- X A S.

• Tling I *11111'm nUle ai flfl] aoiv, >4 down and 10 years’ time, ti iii‘Test, Writt* for maps and eircu r.t tins wonderful country. J John T. Martindale Co., ; i Tradi*, Indianai»oi.i>. Ind. \ui :vc:i: O. m is —Lot Al. ^(IKNT — GREENCAHTLE, INI).

NSlllP TRUSTEE’S NOTICE ill be at my office at my reslin Floyd Towilship, for the tlon of office business, on ]csday of each week. LEWIS C. WILSON, Trustee Floyd Township.

TRUSTEE’S NOTICE ^^vlU attend to the business ol ^^Bice as Trustee of Jackson townFriday of each week, at m\ ^^Hnce. T. A. Wilson. ,w|a Trustee 'ackson Township

^^^SIIIP TRUSTEE'S NOTICE. be found at my residence or. of each week, to attend to ness connect(‘d with the office ^^Hii'tee of Jefferson township, ^^Hm County, Indiana.

OTMO VERMILION, Trustee Jefferson Township

n*

IRUSTKE’S NOTICE.

[ill be at my office at my resiin Marion township, for the J tiou of office business, on of each week, and on Tues-

FUlnioro.

' S J. B. BUNTEN, [ Trustee Marion Townsliip

' TOW

|^_>S||||> TRUSTEE’S NOTICE. ^^^vtll be In my office to transact iSS* 38 at my home on Tuesday and

of each week. J. O. SIGLER,

Trustee Clinton Township.

^ ^BnsHIP TRUSTEE’S NOTICE. K,li»rlll attend to township business « home on Tuesday and Friday of

••elHweek.

Chas. W. King, Trustee Madison Township

aai | T====== ___ TOWNSHIP TRUSTEE’S NOTICE. ^^^^>111 attend to the business of f 0 ice as trustee of Washington

°n Wednesday of each

■JL. at my residence, and at ReelsppuiKtoiti: 3d and 6th t>aturday8 of

■ „ J. O. RADER. ■ * rustee Washington Township

ISHIP TRUSTEE’S NOTICE. I'J be at my office, at my home, .may 0 f each week, for the Iction of Township business. 1 ~ t R. C. HODOE, r u»tee Mill Creek Townehlp.

GUARANTEEING BANK DEPOSITS Democratic Position SoondLandis and Hughes Disagree. The republican party AND LIQUOR LEGISLATION

Page Nine.

[From a Speech by Hon. S. M. Ralston at Lebanon, Oct. 14. 1908.] "We pledge ourselves to legislation under which the national banks shall be required to establish a guaranty fund for the prompt payment of the depositors of any insolvent national bank, under an equitable system which shall be available to all state banking institutions wishing to use it." U :uocratlc National Platform. Now it would seem that this plank of our platform appeals so favorably to the people that scarcely anyone puts up an argument against it. Republican orators have, as a rule, up to date, had but little use for any platform; and I apprehend that no one has any trouble in accounting for the course they have pursued In abandoning the platform of their own party. Governor Hughes of New York, however, has felt that this plank in our platform was growing so rapidly in popularity that some sort of a showing should be made against it. and he has recently therefore attacked It. And what are his objections to it? I want to state them fairly. He says: (1) “An honest Institution complying with the restrictions of the law should not be saddled with the results of other men's misdeeds. (2| "It will lead to reckless banking by enabling men without the proper resources to go into the banking bus! ness. (3) "The guarantee fund would take money out of circulation and deprive it of the power to earn interest." If he has pointed out any objection in addition to these to this plank I have been unable to discover it. Are these sufficient to condemn the policy our party suggests? I cannot recall any restrictive legislation touching commercial matters to which his first objection does not apply with the same force as it does to the proposal to guarantee the depositor against loss. It will hardly do to Insist that all restrictive legislation should be repealed because It Imposes additional burdens upon honest men. And how is it as to his second objection? Mrn cannot organize a bank ing corporation unless they comply with the law providin': for such corporations. They must have the necessary capital — the necessary resources—and the law govt ruing banking should be made so strong that designing men cannot thwart it. If every bank is required to contribute to the payment of the depositors of a failing institution, then every bank will become an Inspector of every other bank. There would thus be created a spirit of watchfulness from ocean to ocean against reckless bank ing. So under such a method it would be impossible, when we consider the duth s of regular bank examiners, for a bank to go very far wrong before its assets would be seized by the government. In his third objection the governor assumes the fund would have to be held as dead capital. The plank in question does not go into detail as to how the fund shall be kept or handled. It simply declares for a principle, and If the principle is sound it will not do to say that the statesmanship of our country cannot devise a rationa, 1 scheme by which the people can enjoy the benefit of the principle. Now my fellow citizens. I want to congratulate you that all Republicans ! do not take the view of the bank guarantee proposition that Gov. Ilti i'sj d< ( s. One of the, most eloquent up- j peals I have read in favor of a law guaranteeing dt positors n , ilnrt loss was made by a Republican. It is true bo has not been repeating his speech | since bis party adopted the Chicago | platform, but 1 am going to give him credit for still holding the same views he expressed in the speech to which I refer, until he repudiates them. The distinguished Republican to whom I refer Is our handsome and brilliant representative in congress. Hon. Chas. B. Landis. The speech was made on the occasion of his last nomination at Frankfort, March nth, 1908. I road what he said on this subject; “I would also put into the bill a provision subjecting all national banks to a small tax to raise a fund out of which depositors who lose money in banks that fail shall be reimbursed. To restore confidence to the people in the banks—to my mind that is the chief object now to be attained. The failure of ene great bank in New York leads the .tepositors throughout the country to fear a failure of their local bank, and the quiet yet steady withdrawal of deposits sets in. Soon there are runs upon the banks and then there is a panic. If the depositors knew that Uncle Sam had the custody of a fund out of which he could pay any depositor who lost a dollar in a national bank, there would be no run on a national bank. I cannot but think that a provision of this character added to our present currency law would

do more to restore immediate confidence and revive the business of the country than any other that has been suggested. It Is a matter of common Information that the banking associations are liable under the law for twice the amount of their capital stock. Say a bank is capitalized at $100,000; the stockholders are liable for $200,000. But the bank accepts deposits to an unlimited extent, up to $500,000. Thus there is one-half of the deposits with no other guarantee than the integrity and business ability of the banker. No one can borrow money from a bank, and rightly so, without giving security. No man can be expected to deposit money in a bank without a feeling of absolute security, and if the government provided such a fund as I have mentioned for reimbursement, the depositor would have this feeling of security. “I am glad to say that there is not a single national banker in this district with whom I have talked or corresponded. and I have been in touch with nearly all of them, who does not endorse this proposition. They feel that the small tax that they would have to pay—not to exceed one-eighth or one-sixth cf one per ceht—would be offset many times by the increased deposits that would force legislation of a similar character for private and ^ •tate banks and in the end the depositor would have absolute security. This would give confidence to the depositor in the private and state bank, and with full confidence on the part of all de positors, coupled with closer investigation and inspection, I feel that a panic similar to that through which we are now passing would be next to im possible. Thus it is seen, so recent as last March, Mr. Landis favored guaranteeing depositors against loss, for the reasons: 1. It would prevent runs on banks. 2. It v.ould do more to restore con fidence and revive business than any other scheme suggested. 3. Because there is no guarantee for one-half of the deposits, as banks now do business, except the Integrity and business ability of the banker. 4. No man can be expected to do posit money In a bank without a feel Ing of absolute security. 5. Because all the bankers in this district with whom he has communicated on the subject, and he has been In touch with nearly all of them, fa vor it. fi. The small per cent a bank would have to pay toward the guarantee fund would be offset many times by increased deposits. 7. It would render next to impossl ble a panic like the one through which we are now passing. I am always amazed at the lucidity with which a Republican can argue in support of a Democratic proposition, when he champions it. What a world beater the average Republican orator would be If he had under his feet a whole D< mecratlc platform. Governor Hughes could state only three objections to this plank, while Mr. Landis without any apparent effort. stated seven reasons—all sound I submit—in support of it. Minors Can Buy Whisky. There has not been an (lection in Indiana since 1892 at which the Republican party did not receive the solid support of the liquor and brew | ery interests of this state. Anyone calling this statement In question discloses his ignorance or want of sin cerity These influences have helped to elect Republican presidents. Repub lican governors. Republican United States senators and Republican state tickets, and yet Republican leaders have always managed to have a smile for the temperance advocate. They have smiled upon him while they have had a hearty hand for the saloon champion. True to their methods in the past, they are now seeking to make a campaign asset of their party’s liquor legisla’* while they continue to hold o- the hand of Hie saloon keeper I ini ' .-barging or intimating that then h- i n no good legislation on the liquor question while the Republicans have controlled the legislature, for such a statement would not be warranted; but I do charge that while the Republican party professes to be the great champion of temperance. Its leaders and managers have constantly striven to placate the liquor Interests and hold them In line for Republican tickets. But while I have conceded that there has been some proper legislation on this subject by this party, it does not follow that all its liquor legislation should he approved. Everyone recalls the demand of the people for blind tiger legislation at the last regular session of the general assembly of our state, and that It was at that session that the law, known as the blind tiger act. was enacted. Section 13 of that act relates to sales of liquor by druggists and makes It unlawful for a druggist to sell or give away intoxicating liquor, except on the written prescription of a reputable physician engaged In the active practice of his profession. This act was approved Feb. 13, 1907. It proved to be an unpopular act. Druggists and liquor men generally denounced it and the leaders of the Republican party hastened to make peace with them. To appease their wrath the same legislature enacted the law known as the Beardsley act, whLnh contains no enier gency clause and vhich was approved and went In force March 16, 1907—one month and three days subsequent tc the approval of the blind tiger act

Section 3 of the Beardsley act provide! that “All laws and parts of laws In con filet with the provisions of this act are hereby repealed.” Section 2 of this latter art provides among other things: "It shall be law ful for any druggist or pharmacist tc sell vinous or spirituous liquors 1e quantities not less than a quart at a time for medicinal, industrial or scl entific purposes, and for no other pur poses, and then only upon the writter (not printed or typewritten) prescrip tion of a reputable physician in activ( practice, or upon the written and sign ed application of any other persor who is personaly known to such drug gist or pharmacist and who is by bin known not to be a person in the habii of using intoxicating liquors as a bev erage.” The words "any other person” In elude both minors and adults—bolt male and female—and thus we set that by a solemn act of the legisla ture the Republican party has author ized druggists to sell Intoxicating liquors in quantities not less than s quart at a time to minors— to botl girls and boys. So, my fellow-Democrats, when Re publicans urge you to vote their ticket because of their party’s position on the temperance question, you remind then that you are opposed to the selling o: intoxicating liquors to the boys anc girls of your state.

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The Central Trust Co.

W ould like to interest you in a good farm located in Putnam county or a piece of Greencattle city property. We have some bargains to otter you. See us before you renew your Fire Insurance Policy A. E. HARRIS, Agent

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* I

GUARANTEEING DEPOSITS. The Republican party went wronf on the bank guaranty proposition be cause the interests that control 1 would not let it be right. Having gon< wrong it stays wrong and is forcing some of its leaders to stultify them selves and deny their own convictions Take the case of Congressman Fowler chairiiKin of the house committee or hanking and currency. He Is now quot ed as saying that the proposition tc guarantee hank deposits Is a “prepos terous and ridiculous scheme.” And yet it was only the 8th of las January when Mr. Fowler Introducec In congress a bill "To establish a sim pie and scientific monetary systen * * and to guarantee all deposits,’ etc. On January 27 Mr. Fowler mad( a speech in favor of his bill in which among other things, he declared tha the guaranteeing of deposits was nec essary to “prevent panic and the hoard ing of money." Answering the verj objections that Republican writers am speakers are now raising, Mr. Fowlei

said:

“Mr. Chairman, the oldest bank pres ident in some town, or possibly th( president of the largest hank in sonu town, may say that he will not hav( the advantage in the future to whlcl he believes himself entitled if deposits are insured: therefore, there will b( two elasses who will oppose this prin ciple. Rut banks, like other business Institutions, will gain not by mere age and respectability, or by mere bulk o: capital, but rather by ability to meei the requirements of their customers j Square dealing and capacity will td ; for just as much after deposits art j guaranteed as before. “Mr. Chairman, is it not too high i price to pay to lay upon the altar o! some man’s ambition all the business interests of this country and still con tlnue the habit of panics, the destruc tlon of credit, and waste of business’ On the one side there is personal am bition, vanity, the supposed advantage to a few hundred men: on the othei side, millions of depositors with six teen billions of deposits to their credii in our banks and the families of 20, 000,000 American tollers. Which side shall we choose? Where does the duty of congress lie? “Mr. Chairman, so far without a sin gle exceptiein, I have proved to mj own personal satisfaction, actually anc morally, that these objections to the guaranteeing of deposits have come from distinctly selfish motives. These I assert must yield to the greatei good." The only explanation of Mr. Fowler's present attitude is that during the cam paign he is talking merely as a Ropullican who feels bound to support a bac platform, while last winter he was ex pressing his honest opinions.

❖ HFECIAL interests vs. ❖

••• EQUAL RIGHTS. 1,1 utteram e and every ♦>

v statement made so far Mr. Taft * v ' !lls shown great concern for •> y the welfare of the Trusts and ❖

••• special interests.

•> He is afraid that the guary anty of bank deposits will be a •> ❖ burden on a few big bankers. ❖ That thousands of small depos- * v* itors may lose everything does

❖ not worry him.

y He Is afraid that a redm tlon ♦ •> of the tariff may hurt protected ❖ y industrle.-. He does not worry y for tin- consumer, who bears the

❖ burden of the heavy tax.

y He Is afraid to oppose the ♦ ❖ trusts, for he considers them a ♦ *♦* bon,-lit. ||,. niind the ❖ extortion they pr u I i< e upon the ♦ ❖ public. ,j. y He is opposed to a jur> trial •> *•* hi contempt and inj metion cas- ❖

❖

♦ want t he unfair injunct Ion pro< ♦ ess continued Tin “Fatl ♦ the In ♦ because the laborer may not ■ ♦ ♦ a square deal. •> ♦ Tlie Republican candidate be- •> ♦ lieves in an income tax only ♦ ♦ when the present oppressive •> •> means of taxation fail to fur- •> ♦ nish enough revenue, in other •> ♦ words he believes that the ♦ ♦ wealthy should not be taxed uu- ♦ til the resources of the massi s ♦ ♦ are exhausted. Not a word •> •1* from Mr. Taft because the ♦> •> masses bear an unjust share of ♦> ♦ the burden of taxation. •> ♦ Mr. Tiii'i stands for the fav- •> <• ored few and special interests. •> ♦ Mi Bi van stands i ir the peo- ♦» ♦ pie as opposed to the interests. •> ♦ Mr. Taft stands for plutoc- ❖ ♦ racy as opposed to Democracy. •> ♦ Mr. Bryan stands for equal •> ♦ rights as opposed to special •>

♦

❖ With which do you stand.

♦

X*X~X*X-H-X~X*X*X~X-X*X-X*

w. TAFT IN INDIANAPOLIS

Greencastle Citizens Report Small Knt liiisiasni ami Compare the Demonstration With the MiKinley Rally in 1800.

CROWDS WATCH; FEW PARADE

IS POSITIVE EVIDENCE

CRITICISE THEIR OWN PLATFORM "In nil tariff legislation the tnu principle is best maintained by the im position of such duties as will equa' the difference between the cost of pro duction at home and abroad, togethci with reasonable profit to American in dustrles.”—From Republican Nationa Platform. The above is a part of the tarifl plank of the Republican national plat form. But getting the idea from somt source that it was part of a speech bj Mr. Bryan, two Republican newspa pers, the Omaha Bee and the Portland Oregonian, declared that the proposi tlon was meaningless and absurd. Oik of these papers said that "never will there be any genuine reform of the tariff upon the principle stated above by Candidate Bryan.” As Mr. Bryarl did not state this “principle," but the Republican party did state it In its platform. Democrats will agree tha; there will never "be any genuine re form of the tariff” under it. They wil also agree that the Republican part>| does not intend to bring about “anj genuine reform of the tariff’' or of any thing elso.

At Huntington, W. Va., Friday Mr. Bryan very neatly proved that the Republican party can not be responsible for so much of the prosperity of the country, at least as is due to the gracious sunshine. For in an audience, largely composed of farmers, he said: I can prove to you that the Republican party has nothing to do with fertility of soil or sunshine or rain, for if it did there would be a trust on sunshine and a meter on the sun. The fact that these things are not monopolies is conclusive proof that the Republican leaders exercise no control over them. All the great sources of wealth, or nearly all, except the soil and the sunshine, have been monopolized under Republican rule—oil and coal and railway and Iron and lumber (the list is tedious); so, clearly, if fertility of soil and sunshine are not monopllized the Republican leaders can not be in control of them.- -Indianapolis News.

A number of Greencastle citizens who saw the Taft demonstration in Indianapolis have come home feeling that the Republican candidate Is not as popular In the state capital as the Republicans would wish. These persons compared the demonstration last night with the one given for McKinley in 1S9C. Then, it is stated the w'hole city was decorated. Yesterday only the Columbia Club and the Marion Club threw out their bunting, and there was some small decoraticn in other places. In general the great business center of the city was not draped In honor of the candidate. The parade was even more illustiative. There were many people out to see, but few, comparatively, In line. There was much music and many negroes, In other words, the paid part of the parade was a success. Otherwise it was not. One factory employing nearly two thousand men sent a Republican Club of less than two hundred. The Business Men’s Club had less than fifty. Another club from a large manufacturing plant numbered less than one hundred though more than a thousand men are employed. The small parade was not due to the bad w-ea-ther either, for there were thousands out to see, but few to shout or march Those in the parade yelled lustily, but the packed masses on the walks kept silent and gave not the least evidence of enthusiasm.

Not the Boy He Wanted. “So you want n position ns office boy ?” “Yes, sir." "Are you perfc tly truthful?” “Yes, sir." “Never tell lies, eh?” “No. sir.” “Then you won’t do. I want a hoy who enn say I’m not here when I am and get away with It.’’—Chicago Record! lernld.

"Looks like rather poor soil In this part of the country,” said the inquisitive stranger. "WeH, it ain’t.” replied the boastful native. "A u.an over ou the adjoining farm plowed up n tin can with $."0 In It one day a weed or two ago."—Chicago Nettii.

Wanted —Competent girl to do general housework. Apply Mrs. F. C. Tilden, East Anderson Street, wtf

Do you get up at night? San. 1 Is snrely Ute bes* for all Limey or bladflev hronWer. S.mol give* cell i Ui 2 4 birtrs from aM Uaekuohe fc-Bd tofcxTKt ■ r Mvoutlaa. Get a 8fic t -ial boKHe at tike ctwtg ..tore. Iyl4

L OOOO A N N SSSS L O O A A NN N S L GO A AAA N N N SSSS L GOA AN NN S LLLL OOOO A A N N SSSS ❖ ❖ MONEY TO LOAN •> •> * •> In any sum from $5 to $300 •> ❖ on horses, cattle, furnlt . ❖ hides and all other good per- ❖ •> sonal property, leaving tho •> ❖ same in your possession, thus •> •> giving you the us.- ,,r >, ith ❖ goods and money. Our charge* * ♦> are liberal for expense of loan. <• •> We kt ep nothing out in advance ♦» ❖ and it you pay the loan before ♦> ❖ dm- we charge interest for the •> •> time you keep it. We have a •> ❖ aystem whereby you can pre- •> ❖ pay entire loan in small weekly •> •> month!} or quarterly inatal- ♦ ❖ men;.'. This company la composed of home people, therefore •> •> we do not make inquiries •> among your neigh’io:-.- n: I ❖ friends as out of the city com- •> ❖ panlea will do. All our d< alinga •> v are strictly c mfldential. Fol- ♦> ❖ lowing is our liberal interest ❖ charges. ❖ # 20.00 one month 10c ❖ ❖ 50.00 one month 2 5c •> ❖ KTO.00 one month 50c •> •> All other amounts in same ❖ proportion. •> ❖ Room 5. Southard Block. Corner Indiana and Washington ❖ ❖ Sts. First private stairway •> south of Ricketts Jewelry •> •> Store. •j* i The Home Loan & Real Estate Co, x | PHONE 82 | X~X~X-X~X"X~X-X~X»X-X~X">$

MMHBM

E. B. LYNCH, Undertaking Our embalmer and funeral director, Mr. C. S. Mecum, has now been with me for three months. He is a man of much experience in undertaking and funeral directing and holds a State embalmer’s license. He will promptly attend all calU either day or night. Phones—Store, 89; Residences, 108 and tJOl.