The independent-reporter., 1913-09-04
CHAMP CLARK ADDRESSED LARGE AUDI
ENCE IN SKOWHEGAN OPERA HOUSE
Believes the Democratic Tariff Bill Will Reduce
The Cost of Living

ds BoOu as SOlu II you can get nOld
of any of them.
Every man who has examined into
the situation knows that the National
Banking System has reached the end
of its tether unless we issue more
United States bonds thereby increas-
ing the interest bearing debt of the
country, and nobody so far as l know
wants to see that done, and it will not
be done except in case of war
Perfection is not claimed for the
Glass-0wen Currency Bill. 1t is
claimed, however, that it is a vast i'm
provement on the present system. The
features of the Glass-Owen Bill which
will appeal most strongly to the farm
ers are:
The control of the new banking
system will bA in the hands of the
Government rather than in the hands
OF the bankers. In fact the great OBJ
lection to the bill from the bankers
is that the Federal Government in
stead of the bankers will control it.
That is recommendation to the
farmers instead of being an objection.
1t is urged by a great many people
that it will give too much power to
the Federal Reserve Board, and 100
much to the President, but power
must be lodged somewhere, and in my
judgment it is better to lodge it with
the President and his appointees than
to lodge it in the hands of private per
sons. These latter can do a great
many things to which no penalty is
attached, which President of the
| i
| do not believe that there has ever
been President of the United States
or that there will ever be until the
republic is on its last legs-whu
would abuse the power given to him in
this bill for his own personal enrich
ment. l do not believe that enough
money could be piled up in front of
one of them to induce him to use the
stupendous power conferred upon
him by the Glass-Owen Bill for his
own financial betterment Another
feature which country folks will en-
dorse is the provision authorizing Ma
tlonal Banks to make form loans.
Another thing that will appeal to
the country people of the United
States is the fact that this bill will
" a
the peoples money from the localities
where they live into the great money
centers, which is one of the crying
evils of our day.
Still another thing which country
people will endorse is that it will be
more difficult, if not impossible, under
this bill to create artificial panics like
the one of 1907.
Still another feature which the
country people will endorse most en-
Enthusiastically is that this bill prohi-
bits the lending of money for purposes
of speculation in the stock market.
Still another thing which country
people and sensible people everywhere
should endorse in this bill is the fact
that it gives the Federal Reserve
Board the power to temporarily lift
the inhibition against the use of re-
serves in times of stringency.
Still another thing which they will
heartily endorse and which l most
heartily endorse is that the Federal
Government itself will issue the cur
rency without any intermediary what
ever.
In these remarks l have no dispo-
sition whatever to lump bankers off as
dishonest beyond the average.
simply say that they are human, that
they will work for their own interests.
OF course we are only beginning the
redemption of our promise to reform
the currency. The first two steps
only have been taken. The Demo
cratic contingent of the House Com.
mittee on Banking and Currency after
months of study, work and consulta-
ton reported a Tentative Bill to the
Democratic Caucus, which after weeks
of debate and some amendments, voted
to report the amended bill to the
House.
Rome was not built in a day, but
nevertheless Rome was built.
We cannot in few months redeem
all the promises made at Baltimore
but with Gods blessing we will re-
deem them all.
At this particular juncture the
Democrats of the Third Congressional
District of Maine hold the post of
honor. By common consent every
body thinks that the election in this
district will give a sign to the country
as to whether public opinion endorses
President Wilson's administration and
the Democratic Congress. Conse-
quently the Democrats of this district
now have more power TO influence the
trend of public opinion than they ever
had before or will ever have hereafter.
President Wilson is doing his utmost
to give the country a clean, intelli-
gent, Democratic and patriotic admin
istration and a Democratic Congress
is holding up his hands in the great
task imposed upon him by the suf-
frages of his countrymen. | ask you
to hold up the Presidents hands and
the hands of Congress by sending Mr..
Pattangal to Washington with a
rousing majority. That will give en-
eouragement to Democrats every
where