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WATTERSON SEES A NEW PARTY DAWN
According to Colonel Henry Watter
son, who has reached New York af
ter a four-month sojourn in Europe,
the time is ripe for the establishment
of a new Democratic party. The pres
ent Democracy, he says, is sadly rent
into factions. Its leaders are at war
with one another. It is like the old
Whig party, he asserts, at the time
that it broke up into fragments, out
of which arose the Republican party.
Just what the name of the new
Democracy shall be Colonel Wat
terson was unable to say.
Mr. Roosevelt, the Colonel said, was
not only the President of the United
States, but the almost absolute boss
of the Republican party. The pres
ident, he believed, would not run
again, but was finny determined to
nominate Taft.
“We are getting into the orbit of
another Presidential campaign,” said
the Kentucky editor. “On the Repub
lican side it is the Administration
against the field and the field against
the Administration.
Takes Roosevelt at His Word.
“I take Mr. Roosevelt at his word,
that he will not accept a third term.
The President told a group of news
paper men not long ago that if the Re
publican National Convention nomi
nated him, it would have to hold an
other session, to receive his resigna
tion and nominate somebody else. I
think that the President will stick
to his promise.
“Mr. Roosevelt is putting forward
the Secretary of War as his nominee
against a field of other candidates. I
interpret the recent visit of Mr.
Hitchcock to the South and his al
leged warning to Federal office hold
ers down there to stand by the Ad
ministration as a move on the part of
the President to offset the Presiden
tial aspirations of Vice-President
Fairbanks.
“There is a lot of Republican
freight down South, and Mr. Fair
banks is the man who can pay the
freight.
“Mr. Roosevelt is an excellent ma
chine politician. He threw the civil
service crutches out of the window as
soon as he became President. He
played politics with Mr. Harriman,
and did it effectively.”
Sees Dawn of a New Party.
Shifting to the Democratic situa- •
tion, Colonel Watterson said:
“The Democratic party in the North
is split into three factions. It may
be that the dissonant elements of our
present Democracy are the dawning
of a new party based on new Social
istic theories.
“The relations of franchise-holding
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WATSON’S WEEKLY JEFFERSONIAN.
Democrats are all Torn Up, He Says, Like Whigs Before
They Went to Pieces.
(The New York American.}
111
IBr
*
Photo by Klauber, Louisville.
< : HENRY WATTERSON.
corporations to the public, and of cap
ital to labor, constitute great econ
omic problems which must be worked
out, and to this task a new party
might well set itself.
“Just under what title these party
forces will align themselves, however,
I am unable to say.
“As the Democratic party is at pres
ent it can only win in the next Pres
idential campaign, in case there is
cholera in Cuba, yellow fever in the
Philippines, corn goes down to 30
cents and wheat to forty, or should
the Republican party split under
Roosevelt as the Democratic did un
der Cleveland.
“Bryan evidently does not regard
himself as a candidate or he would
be more circumspect of speech.
Bryan is fond of political speculation.
He is a public speaker, who evidently
feels it his duty to entertain his au
diences.
“Mr. Bryan is a good driver, how
ever, as well as a good talker. He has
driven the Democratic party out of
every Northern State.”
WEALTH OF THE UNITED STATES
(The New York Herald.)
Astonishing increase in the national
wealth for the period from 1900 to
1904 is shown in a special report just
issued by the Census Bureau on
wealth, debt and taxation. This ad
vance in wealth has no parallel in the
history of the country, except in the
decade 1850 to 1860. It resulted from
many causes, of which the reaction
from the low prices of the depressed
period of 1893 to 1896 was, in the
opinion of the statisticians, one of the
most potent.
It is shown by the census figures
that the annual increase of wealth
per family has been quite uniform
from 1850 to 1904. Omitting the pe
riod marked by lessened productivity
due to the ravages of the civil war
and by loss in values due to the
emancipation of the slaves, the in
crease per family has been SIBO for
the decade 1850 to 1860; $lB4 for the
twenty years from 1870 to 1890, and
$lB2 from 1890 to 1904.
The total valuation of the national
wealth for 1904 was $107,104,192,410,
based upon estimates of real prop
erty and improvements, live stock,
farm implements and machinery,
manufacturing machinery, gold and
silver coin and bullion, railroads, etc.
The total of the net public indebt
edness for 1902, to which the esti
mates are carried, was $2,789,990,120.
The annual interest charge on the
public debt of continental United
States in 1902 was approximately
$115,206,558, or an annual payment of
$1.46 for each individual.
In the fiscal period covered by this
report the revenue receipts of the na
tional, State and municipal govern
ments were, exclusive of duplications,
$1,709,136,540 and the corresponding
expenditures were $1,704,330,960.
These figures show that, taking the
country as a whole, the revenue re
ceipts were somewhat greater in
amount than payments for expendi
tures, that is, the net indebtedness of
the country was slightly less at the
close than at the beginning of the
year.
In Great Britain the per capita in
debtedness of all classes, national and
local, was 3.93 times that of the
United States; in France, 4.86, and in
Italy, 2.25. If account be taken
of the national wealth it is found the
ability of the countries to meet their
indebtedness is expressed by these fig
ures: In the United States the total
debt is $2.85 for each SIOO of national
wealth; in Great Britain it is $10.50;
in France, $14.25, and in Italy, $17.38.
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