Martinsburg statesman-democrat. [volume] (Martinsburg, W. Va.) 1906-1921, 1913-10-10
BANKING REFORM
Law Will Become Effective at
Once


Business Says the President viii Not
Be Fully Emancipated U',t.' the
Power to Create Monopoly Is Re.
moved AS Well AS the Conditions
Which Make the 5onopoIy Posi-
ble-An Imposing Scene When Bill
Is Signed.
WASHINGTON. Oct 4.--Surround-
ed by the leaders of a united Democ-
racy, President Wilson signed the I'm
derwood- Simmons tariff bin at 9:09
O'Clock last night at the White House.
simultaneously kilograms were sent to
customs collectors throughout the
country by the Treasury Department
putting into actual operation the first
Democratic tariff revision since 1894
A happy group Of legislators, mem
bers of the cabinet, and friends en-
cireled the president as be smilingly
sat down and slowly, affixed his sigma
ture with-~two gold pens. He pre-
scented Representative Underwood the
pen that had written the word Wood
row" and the one which had eomplet-
ed his name to Senator Simmons
both of whom bowed their apprecia-
ton.
Work Not All Done.
In impressive silence the president
rose and delivered in easy. natural
tones an extemporaneous speech that
brought prolonged applause.
The president declared that the
journey of legislative accomplishment
had only been partly completed; that
a great service had been done for the
rank and file OF the country, but that
the second step in the emancipation of
business was currency reform.
He earnestly called upon his col
leagues to go "the rest of the jour
ney" with fresh impulse.
Proud But Solemn Moment
Gentlemen, I feel a very peculiar
pleasure, = said the president, "in what
have just done by way of taking part
in the completion Of 2 great piece of
business. 1t lis a pleasure which is
very hArdtto express inwoRds which
are adequate to- express. the feeling,
because the feeling that | have is that
we have done the rank and file Of the
people of this country a great service
It is hard to speak of these things
without seeming to go off into cam
paign eloquence, but that is not. my
feeling. 1t is one very profound. A
feeling of profound gratitude that
working with the splendid men who
have carried this thing through with
studious attention and doing justice
all round, | should have had part in
serving. the people of this country as
we have been striving to serve them
ever since ! can remember.
Nations Business Set Free.
81 have had the accomplishment Of
something like this at heart ever
since was a boy and l know men
standing around me who can say the
same thing have been waiting to
see the things done which it was nee
essary to do in order that there might
be justice in the United States. And
so it is a solemn moment that brings
such a business to a conclusion, and
I hope | will not be thought to be de-
handing too much of myself or of my
colleagues when | say that this, great
as it is, is the accomplishment of on
ly half the journey We have set the
business of this country free from
those conditions which have made
monopoly not only possible, but in a
sense easy and natural.
But there is no use taking away
the conditions of monopoly if we do
not take away also the power to create
monopoly; and that is a financial
rather than a merely circumstantial
and economic power
Second Step in Emancipation.
"The power to control and guide
and direct credits Of the country is
the power to say who shall and who
shall not build up the industries Of the
country, in which direction they shall
be built, and in which direction they
shall not be built. We are now about
to take the second step, which will be
the final step in setting the business
of this country free. That is what We
shall do in the currency bill, which
the house has already passed ant
which I have the utmost confidence
the senate win pass much sooner thar