The citizen. (Frederick City, Md.) 1895-1923, 1913-06-27
President Reads Address on
Currency Before Senators
and Representatives
MONETARY REFORM is URGED
Declares 1t Is imperative That Con.
sress Give the Business Men Of
This Country System Which
Will Mean Freedom Of Enterprise.


1t is under the compulsion of what
seems to me clear and imperative
duty that | have a second time this
session sought the privilege of adj
dressing you in person | know. OF
course, that the heated season of the
year is upon us, that work in these
chambers and in the committee rooms
is likely to become a burGe& as the
season lengthens, and that every con
sideration of personal convenience and
personal comfort, perhaps, in the
cases of some of US, considerations of
personal health even, dictate an early
conclusion of the deliberations of the
session; but there are occasions of
public duty when these things which
touch us privately seem very small;
when the work to be done is so press
ing and so fraught with big conse-
quence that we know that we are not
at liberty to weigh against it any
point of personal sacrifice. We are
now in the presence of such an oc-
casiOn. 1t is absolutely imperative
that we should give the business men
of this country a banking and currency
system by means of which they can
make use of the freedom of enterprise
and OF individual initiative which we
are about to bestow upon them.
We are about to set them free; we
must not leave them without the tools
of action when they are free. We are
about to set them free by removing the
trammels of the protective tariff. Ever
since the Civil War they have waited
for this emancipation and for the free
opportunities it will bring with it. 1t
has been reserved for us to give it to
them. Some ell in love, in deed with
the slothful security OF the depen-
lence upon the Government; some
tool advantage of the shelter of the
nursery to set up a mimic mastery
of their own within its walls. Now
both the tonic and the discipline of
liberty and maturity are TO ensue.
here will be some establishments Of
purpose and point of view. There will
follow period Of expansion and new
enterprise, freshly conceived. 1t is for
us tc determine now whether 1t shall
be rapid and facie and of easy &C
complishment This it can not be I'M
less the resourceful business men who
are to deaf with the new circum-
stances are to have at hand and ready
for use the instrumentalities and con-
veniences of free enterprise which in
dependent men need when acting on
their own initiative
1t is not enough to strike the
shackles from business. The duty OF
craftsmanship is not negative merely.
It is constructive also. We must show
that we understand what business
needs and that we know how to sup
Div IT, No man, however casual ana
superfcial his observation of the CON
ditions now prevailing in the country,
can fail to see that one of the chief
things business needs now, and VIII
need increasingly as it gains in scope
and vigor in the years Immediately
ahead of us, is the proper means by
8 hich readily TO vitalize its credit,
corporate and individual, and It's orlgl-
native brains. What will it profit US
to be free if we are not to nave the
hest and most accessible instrument
talities of commerce and enterprise?
What will it profit us to Ne quit OF one
k,nd of monopoly if we are to remain
in the grip of another and more Ell
fective kind? How are we to gam ana
keen the confidence of the business
community unless we show that we
know how both to ala and to protect
ito What shall we say II we make
fresh enterprise necessary ana also
make it very difficult by leaving all
else except the tariff just as we lounu
10 The tyrannies of business, Dig
and little. lie within the field OF credit
We know that Shall we not act upon
the knowledge? Do we not know now
tn act upon it? If a man can not make
bic assets available at pleasure, his
assets of capacity and character ana
resource. what satisfaction is II 10
him TO see opportunity beckoning 10
him on every hand, when others nave
tbo KEYS of credit in their pockets and
treat them as all but their own pri-
vate possession? 1t is perfectly clear
that it is our duty to supply the new
banking and currency system the
country needs, and that it will immedi
etelv need it more than ever.
The only question is, When snail we
srnnlv it-now, or later, after the de-
mands shall have become reproaches
that we we're so dull and SO SLOW
Shall we hasten to change the taril
laws and then be laggards about max
ing il possible and easy for the couii,
trv TO take advantage of the change :
There can be only one answer 10 that
question. We must act now, at what
ever sacrifice to ourselves. 1t is duty
which the circumstances forbid us TO
noetnone. | should be recreant TO my
deonest convictions Of public obilga
tion did | not press it upon you win
solemn and urgent insistence.
The principles upon when we
Ia