The Birmingham age-herald., 1913-10-25


could abroad we made the tariff such
that reasonable competition could be oh.
tained.
Have Earnestly Striyen
Men are human. The ways and means
committee that wrote this bill are among
the humans. / do not say that we have
not made mistakes, we probably have,
hut time will bly, demonstrate some
mistakes. We would be more than men
If we had not made them. But We hav
earnestly striven after three years toll.
This bill was not written in a day nor
an hour. We spent q whole Congress
preparing it before the democratic party
came into power, presenting our views
and ideas to the country by passing bills
through the House of representatives.
some of them even passing a republican
senate and going to a republican Presi-
dent. There can be no doubt that from
all standpoints of thought there was an
earnest desire on the part of the Amer
lean people to reduce the former tariff
taxes. But on articles where we believed
there was comptition we have endeavored
to levy a rate at the custom house which
will produce reasonable competition and
yet not jeopardize the great business in
terests of the United States applause. }
'As to whether we have succeeded or
rot and how far we have succeeded, time
alone must tell; but l wish to say this
that this bill has been on the statute
books for nearly a month and it is the
first bill that has gone on the statute
books since the civil war that the Ameri-
can pee pie, regardless of party, regard
less of politics and whatever business
they have been. have shown a universal
disposition to accept the bill and adjust
themselves to it. tremendous applause) }
Bill a Success
IF l am any judge of the American
people or of their ability to work out
the problems that confront them, / be-
l'evo that this very fact that they are
standing here today for the first time in
so years to accept new financial legisla-
tion-and financial legislation, my friends,
that has not been childs play, that is not
a mere simulated legislation. but the first
zeal downward revision that has been
written on the statute books of this coun-
try in so years means the success of the
bill. (Applause)
I'VE find that these great business in
terests of the country are bowling their
heads to accept the will of the American
people as expressed in their Congress.
PREPARING their business to adjust them
selves to the new positions and L believe
that within a very short time the great
business interests of this country will
have adjusted itself to the lew condi-
ticns under this bill. and the business in
terests will move on with a greater op-
portunity and greater prosperity, not only
to fill its mission at home, but to reach
cut to foreign markets develop foreign
trade and give increased employment to
labor at home and bring back riches as
reward for the upbuiding of our foreign
commerce under these new conditions.
(Apr lause)
1--WE had adjusted our prices where the
manufacturer was compelled to pay such
high tariff and such high prices for his
raw materials that when he went to the
seashore the very prices he paid at home
prevented him from going into foreign
lands to seek markets abroad.
I'VE brought down those conditions to
a basis where the giant Industries of this
country can now forge to the front,
stripped Of the burden that has bur-
dened them before any carry American
commerce to the uttermost ends of the
world. Our own great district has and
must fix itself in this case like other
districts in the country, but we are more
fortunate than many others because if
there is district in the whole world
that, through its great natural resources,
its climatic conditions, its ready ways
to the sea, has been better prepared than
any other in the world that [ know of,
it is the Birmingham district.
''The Birmingham manufacturers should
of ours know of our greatness, but |
believe that the day is opening now
when the name of the manufacturers,
two decades hence, will be household
word in the furthermost parts of the
world. Great applause).
Takes Up Banking Law
"There is one other question that is
not complete yet, but is on its way TO
completion that l wish to call to your
attention. 1t has been conceded by all.
deploged by many, that we have on the
statute books of our country the very
worst banking laws and currency laws
of any civilized nation of the world
(Applause) We started out before Mr.
Cleveland was President of the United
States to try and revise our banking
and currency laws. We failed. When /
first bore your commission to the Con-
gress of the United States the Carlyle
currency bill of the Cleveland admins
tration met me at the doors of Congress
attempting to remedy these laws. Ii
failed. The Walker bill in the Mckin-
ley administration made the effort. 1t
could not command majority of the
votes in Congress. 1t was followed by
the Fowler bill. 1t failed and the final
makeshift known as the Aldrich-Vreeland
bill was placed on the statute books
That was even unsatisfactory to it's au-
thOrS themselves.
Il am not speaking of this from any
partisan standpoint or party stapdpoint,
because up to this time my own party
has made its efforts as we'll as the party
that was opposed to it, The necessity
of an honest and effective currency Leg
isiation is more important to you, Mr..
President, and the great organization
that you have the honor to preside over
than any legislation than can be enacted
today. (Applause).
No Panics in England
within 20 years we have had two
banking panics in this country, disrupt
ing business conditions entirely, bringing
riot, ruin and disaster to our country
Can the president of the First National
bank of Birmingham, or any other gen.
tleman here, who is versed with such
questions. tell me the date When we had
the last bankers panic in Great Britain
We have industrial panics; we have hard
times. They have industrial panics anc
hard times, but the British Isles have
not had bankers panic since 1884 Zap
plause) because they have a banking
and currency system that is adjusted
to the business interests of their coun-
try ana is capable of taking care OF