(4) And my opinion is that the whole sum could be benevolently assimilated by that Panama Canal business which the sleek Cromwell and his Varilla unloaded on the impulsive Roosevelt.
Second Question: Yes. We wage no war on private banks. As long as banks confine themselves to legitimate banking, loans, discounts &c., they are not a source of national danger. It is only when a certain class of bankers, like the National Bankers, usurp the Governmental function by supplying the country with money, that they are, as Jefferson said, more dangerous to Republican institutions than standing armies.
Question 3: Yes.
Memphis, Tenn., Nov. 30, 1905.
Hon. Thomas E. Watson, New York.
Dear Sir: I am a regular reader of your Magazine, which I find very interesting and instructive. I believe in the Public Ownership of Public Utilities, but fear that does not go far enough to cure the land of the evils that now curse it. With Government banks, Government railroads, Municipal Ownership of Public Utilities, there would still be that awful strife of the many for bread and butter. If we may ride cheaper on the “Railhighways,” if we get our Water, Gas, and Electric Light cheaper, will not the wages of the workers go down as the cost of living decreases? Will not then as now, the “iron law” of wages be operative?
Please answer in your Educational Department.
Yours,
⸺ ⸺.