The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1913-12-26
Signs Bill And Makes SpGeCh-USed -Four Pens In The
Ceremony, Which Was Witnessed By Crowd That
ThTOngGd The Executive Offices Members Of
Cabinet And Of Congress And Other NOtabIeS Hear
The Presidents Remarks

washington, Dec. "a. - President
Wilson signed the Glass-Owen bank
ing and currency bill at one minute
after o'clock last night. The bill.
thus became a law after months OF
labor on the part OF. the Democratic
congress and the president The new
banking and currency system will be
installed as soon as practicable, work
to that end already having been be-
gun by the secretary of the treasury
1t is the opinion of the Democratic
leaders that the new law will have a
steadying effect on business.
President Wilson signed the bank
ing bill in the presence of crowd
that thronged the executive offices.
Mr.. Wilson was in happy frame OF
mind. The occasion marked decid-
ed victory for the president, who had
worked hard for seven months to put
the bill through the two houses of
congress. 1t also signalized the full
fillment of the second chief pledge of
the Democratic platform upon which
Mr.. Wilson ran as a candidate for the
presidency.
The conference report on the bank
ing bill was agreed to by the house
Monday night, was passed by the SEN
ate late Tuesday afternoon, and the
embossed copy of it bearing the sig
"a D,.ns 1arat q
and Speaker Clark was hurried to the
White House.
In a brief speech that he made af-
ter attaching his signature to the bill,
President Wilson proclaimed the law
as a constitution of peace" for the
business interests of the United
States. He expressed pleasure in
completing a work which I think
will be of lasting benefit to the busi-
ness Of the country" Mr.. Wilson said
he had been surprised at the Sudden
acceptance" of the measure by public
opinion everywhere. The business
men, he said, had opened their eyes
to find in the measure which they sup
posed to be hostile a serviceable
friend.
President Wilson's Words.
President Wilson said:
81 have been surprised at the sud-
den acceptance of this measure by
public opinion everywhere. I say sur
prised because it seems as if it had
suddenly become obvious to men who
% xxrith nritina1 q
eye that it was really meant in their
interest They have opened their
eyes to see a thing which they had
supposed hostile to be friendly and
rviceable-exactly what we intend
ed it to be and what we shall intend
all our legislation to be.
"The men who have fought for this
measure have fought nobody. They
have simply fought for those accom-
modations which are going to secure
us in prosperity and peace. Nobody
can be the friend of any class in
America in the sense of being the en-
emy of any other class. You can only
be the friend of one class by showing
1t the lines by which 1t can accommo'
date itself to the other class. These
lines of help are always the lines ol
accommodation.
81 feel that we can say that 1t IL
the first of a series of constructive
measures by which the Democratic
party will show that it knows how tc
serve the country. In calling 1t the
first of a series of constructive meas
ures, / need not say that l am moi
casting any reflections on the greaI
tariff bill which preceded 1t.
"The tariff bill was meant to re
move those impediments to American
industry and prosperity which had sc
long stood in their way Then there
came upon the heel of it this bill
which furnished the machinery fol
free and elastic and controlled cred
its, put at the disposal Of the mer
chants and manufacturers of thii
eountry for the first time in SO years.
In the signing of the bill the presi
dent used four gold pens. With th'
first he wrote Approved Dec. 20
1915" with the second he wrote
wood" with the third row" ant
with the last Wilson" The first pei
was presented to Mr.. Glass, anothe
to Senator owen and the third t.
Secretary of the Treasury McAdoo
The fourth was reserved for Senate
Chiffon of West Virginia, who hat
sent it to the White House with a re