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Show BRYAN LAUDS THE NEW LAWS Currency Bill a Remarkable Measure Government Should Issue Money. INCOME TAX LAW Bankers Want to Control the People's Money Aldrich Opposition Good Thing. Waterloo, la.. Oct. 18 Secretary of State William J. Bryan spoke last tiighl at the Iowa State Dairy show in detense of President Wilsons admin istrative policies. He defended tb-pending tb-pending currency bill, the new tariff law and the income tax. and attacked the critics of theRe measures For generation? ihe National banks have hold the government's money in return for contributions to campaigns and support ot the Republican party, he ';:iid Secretary Bryan was speaking ol the pending currency bill "The currency cur-rency bill Is the most remarkable cur rency measure that we ever have had " he said "It gives to the bankers bank-ers enough to make them happy and doesn't enable them to take enough to make thp people miserable. There Is one feature about this bill that should win the support of every bank er doing a legitimate banking busi ncsa Heretofore it has been neces sary to put up bonds to secure gov ernment money but by the provisions of the new bill the government loans money without requiring bonds It lets the regional bank take collateral from the banks within the zone and the zone banks put their guarantee on the collateral This enables the government gov-ernment to put into a community more money than it takes out "The government asks in return something tnat every banker should be willing to concede namely that the government should issue the mon ey itsell Why let the banks issue the money in times of peace, when the government must issue It In time of trouble? I believe the banks can very well concede this point when they consider the benefits they receive re-ceive through not having to purchase bonds as Becurit And they will have to concede this point whether they want to or not. There is one point on which the bankers are divided It Is whether the board that controls the issue shall consist of bankers or gov ernment officials?' Income Tax Law. On Hie income tax law he said "Because I favored a 2 per cent tax with an exemption of 4000 and no graduation, they called me a dema gogue, and a disturber of the peace, and a ( used me of trdng to stir up the poor against the rich That is what they did nineteen years ago, but this cbuntry is changed When this bill passed the Housii it provided for an income tax running from 1 per ent to 4, and when It got to the Senate the Senate said tha' it was not enough for now we have a Democratic Senate, a Senate that comes from the people and hereafter the Semite will be responsible to the will of the people When that bill . ame to be passed, there were men iu this country who had advocated an income tax, who were will ng to keep 89 per cent on woolen goods, and Uih old Payne-Aldricfa bill, rather than to join with the Democrats to give i lower lax and income tax I realize that while western Republicans voted lor the extortionate rates of a higher tariff, an eastern Democrat, Woodrow llBon, right by Wall street and the manufacturers, east his io with tho plain people and gave them a low rate on the necessities of life Why did he do ft? Because his heart Is on their side "You have been shirking your du ties and making the poor people bear I the burdens you ought to bear. Now I we will help them to reduce taxation and you must take some of that load upon yourselves." Aldrich Opposition Necetsary. Mr Bryan said former Senator Al-drlch's Al-drlch's opposition to the currency bill was necessary to assure its pa.sse.ge "Mr Aldrich has done more than any-other any-other man In public life to make the Republican party a third party in this country," said the speaker "We had a meeting in Boston tho other day and the speaker said that ; when the question was asked as to whether banks should be controlled bv la board of bankers they all shouted 'We think the banks ought to be eon trolled by bankers ' " "Do you know of any other class of so lety that wants to control itself What would you think of a railroad that said 'We must control the inter state commerce commission that controls con-trols us in the railroad business Did you ever hear of a railroad marl claiming that they Bhould control one half of the commerce commission or one member of the board? You never heard It. Why Regulate Banks? What do you regulate the banks for? For the benefit of the people who do business with them Whose money have the banks? Why the people's money Whose money do th'ej gei from the government 9 The peoples Then who says Ihat tho banks Bhall control themselves while they handle the people's money." It is presumptuous, impertinent au darious and the bankers themselves ought to be ashamed of. Political Boards. "Do they tell you that this board Is to be political, and that It ib dan gerous? Do you know of anything In this country that Is not lining done by political boards, any part of the gov ernment that Is not conducted by political po-litical bodies' As a government which is made up of political heads and officers selected by the people can make your laws, protect your property, prop-erty, regulate marriage and divorce, fix the death penalty and take a human hu-man life, who, then, says that a pa litical body cannot control 'be banks for the people'' How Some Bankers Talk. "Tbe way some bankers talk you would imagine that business commn nlties exist for the benefit of the banks. It would be just about as absurd to say that people eat in order to furnish a demand for farm prod ucts This bill means that the banks are to fulfill the principles of their existence and are to live fcr the accommodation ac-commodation of business and not for its control "We are to have twelve or more regional bonks and no central bank. Mr Aldrich complained tbe other day that he did not like this bill. That Iu the reason it was written this way so he would not like it If the bill suit ed him. it wouldn't be fit to print If he was pleased with it, it would bi bad He prepared a bill and after he had taken a look though he coun try he resigned from putlle life" A large audience heard Mr. Bryan and applauded his remarks. ban quel was held in his honor before be returned to Washington last night |