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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 JOHN A. STEWART COKE S. DAVIS STEWART & DAVIS Life, Accident, Casualty and Surety Insurance 504-5 6 PRUDENTIAL BUILDING, .... ATLANTA, GEORGIA MANAGERS: THE MARYLAND LIFE INSURANCE CO., of Baltimore; THE GENERAL ACCIDENT, of Perth, Scotland; . THE METROPOLITAN SURETY CO., of New York. Live Agents in Georgia cities and towns can increase their writing capacity and earnings by communicating with us. Special Inducements Offered First Class Men 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. 15