The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1913-12-28
Underwood Discusses Effect
on Business of Tariff and
Currency Laws
THINKS PARTY HAS
REDEEMED PLEDGES
Says His Information Is That People
of the State Will Promote Him
| to the United States
Senate

Apparent immediate Improvement in
business conditions as result of the
passage of the currency bill and GER
tainty that Improvement will become
so pronounced by spring as pleasant
" to affect everybody, was informa-
ton brought to Birmingham yesterday
afternoon by Oscar w. Underwood, the
leader of the dominant party in the
House of Representatives.
81 am told by officials at the treas
ury department" said Mr.. Underwood,
that banks from every state of the
union are falling over themselves seek
ing for information as to how to take
advantage of the new conditions. This
is an excellent indication that the peo-
pie of the country who make a pro-
fession of a study of finances see in
the new legislation great possibilities
for good.
Personally, it is my opinion that
the country within reasonable length
of time-just long enough for the ad-
justment of the provisions of the tariff
and currency bills--will experience an
Unprecedented period of peace and
prosperity"
thinks rarity Popular
Mr.. Underwood is very proud of the
achievements of the democratic party.
He readily admitted the belief that as
result of the faithful redemption of
the prediction pledges and the good
which he thinks will follow in the
wake of the tariff and currency bills,
that the democratic party, instead of
being swept out of office at the con-
clusion of the term of President Will
son will continue to receive the COM
mission to remain at the throttle.
1T is generally the money power
which produces panics and concurrent
changes of administrations" said the
leader of the party. From the trusts,
there was great opposition to the pass
age of the tariff bill There was such
strong opposition in some quarters that
there was reasonable ground for fear
lest through spite the power which
controls money might produce finan-
cial stringency. The Presidents calm
determination to Investigate the con-
d1tion of institutions which might close
doors and turn people out of employ
ment was most successful temporary
check to whatever might have been Sc
cretly contemplated. The currency bill,
providing for the disbursement of
$400,000,000 of money offered at low
rate of interest, making bankers panics
as impossible in America as in England
where there have been none since
1S44-will permanently restrain those
who might be tempted to produce
financial trouble in the hope of secur-
ing new President with a different
political creed"
Effects of Legislation
Mr.. Underwood holds that the cur
ic in I,A
ment of the tariff bill.
''In the tariff BILL he added, 1--WE
reduced the taxes on consumption
S125,000,00 This amount was RENTED
by the government from the burden
borne by the masses of common peo-
pie. In order to secure money with
which to run the government the
income tax was passed By this tax
the government will reap from those
with large incomes $125,O00,0OO.
THE reduction of the tariff strikes
blow at the pockets of those who
grow fatter financially by selling to
those who are already too lean finan-
cially. 1t is natural that there should
be disgruntled individuals as a result
of the blow directed at their strong
boxes To obviate any trouble which
they might have contemplated produo-
ing as a result of this pique and in
hope of restoration of old conditions
country, through regional banks under
the supervision of the government,
with the treasury surplus amounting
to 100000.
whenever ample money at a cheap
rate of interest is obtainable in re-
turn for good security, the chances are
that the country will be- prosperous and
the people happy and at peace"
Confident of Success
Therefore Mr.. Underwood feels that
with the tariff bill and the currency
bill enacted into law, business condi-
lions will be exceedingly fine as soon
as both measures are fully in effect.
He declared that his physical con-
dition is excellent and that he is anx-
ious to get again upon the political
busting. He will begin Monday two
weeks speaking engagement.
"F'rom all that L can gather" said
he, "there is every reason to believe
that l will be promoted to the Senate
at the hands of the people of the state
I will spend two very busy weeks
among the voters and will welcome the
opportunity to meet those whom I was
unable to meet on my last visit to
Ala bama. After the conclusion of the
vacation / will return to Washington
and will remain at my post as long as
duty demands"
Mrs. Underwood remained in Wash
ington for the holidays.
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