The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1912-10-29
A BUSINESS MANS VIEWS

Edward K. Filene & Sons Of Boston,
ono Of the largest retail dry goods
stores of the country, answering the
plea Of John Wanamaker for the re.
election of President Taft, through the
New York Herald, says that the agita-
tion which has disturbed the country
for four years will not subside until
there is some real tariff reform. Mr..
Filene asserts that we are on the
threshold of an era Of great prosperity
and that the only thing that
would prevent the setting In
| of such a period would be the election
of President Taft. He asserts, the
election of Governor Wilson would
make prosperity most certain.
"There Is every reason to believe
that we are on the eve OF abundant
prosperity said Mr.. Filene. "If ma
tural conditions prevail and II things
now looked for do not occur to prevent
IL, we shall see in this country within
year the beginning Of an era Of un-
precedented business activity.
"In my opinion one thing likely to
prevent the setting In Of such a period
of prosperity would be the reelection
Of President Taft, and the one thing
that would make prosperity most Ger.
tain would be the election OF Governor
Wilson.
"This opinion Is based upon my be.
lief that for the business world moth.
Ing else is so important as stability.
The present administration has been
one of very little mplishment
along the lines where legislation is
most desired by the people, and the re.
| election OF Mr.. Taft wouldn't mean a
renewal probably a more persistent
and determined renewal--Of the agi-
tatiOn which has marked the last four
years.
stability In impossible with Mr..
Taft AZ President. There has been no
feeling of stability during his admin.
istration. Economic conditions have
been ripe for a return of prosperity,
but the depression which followed the
panic OF 1907 has prospered with little
real abatement through all OF the pres
ent administration.
| Governor Wilson's election would
mean, and would be taken by the coun-
try ut large to mean, that we would
have very early In his administration
n revision OF the tariff which would
give tho country the relief It is dc.
maDding and which at the same time
would be made carefully and with a
view to preventing business disturb.
anGe
! "Mr Wanamaker has h0isted the pan
ic scarecrow. Now. according to facts,
the panic which was commonly known
as that Of 1893 might very properly
have been known as that Of 1890 or
1891, because II sas under tho McKin.
Icy Tariff Bill. which became law
ON DOT. Q. 1890, that the first signs Of
this disturbance appeared.
"Under the same tariff law, In 1898.
there were more than fifteen thousand
failures In tho United States, involv.
Ing losses amounting to three hundred
and fOurty-six millions, On the other
hand after the Democratic revision
had gone into effect In 1894 the mum.
ber OF failures fell to thirteen th0us-
and and the amount involved foil to
one hundred and scvcnty-three mil.
llorn. or iess than one-half, The panic
of 1879. tho worst In American his-
tory. occurred under the q. o. p. rule.
1T is now commonly accepted as q
f, fRct In financial circles that group
OF less than twelve men control the
giving Of credit In this country.
while trusts and monopolies have
brought about the present control Of
credit, that same control OF credit
tends TO perpetuate trusts and monopo-
lies.
upon this great question also Gov
crnor Wilson Ia entitled to our sup
port. Mr.. Roosevelt favors the recog.
milton Of mOnopolies az inevitable. Mr..
Taft In against monopoly - hut he IL
for continuation OF the tsws which
have brought them into being.
Governor Wilson alone OF the candi-
dates has taken consistent position
FOR the preservation of the individual
In the business world. He alone of the
candidates IL pledged to legislation
which will prevent such financial con-
federacies as now control the business
and credit OF the nation,
Therefore, being convinced that
prosperity now awaits only staple con.
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