The Caldwell watchman. (Columbia, La.) 1885-1946, 1914-11-27
BRIGHTER future
SAYS Mr.. WILSON
PRESIDENT PREDICTS THAT BUS.
MESS INTERESTS ARE At
DAWN OF PROSPERITY.
PRAISE FOR RESERVE SYSTEM
congratu'ates Secretary McAdoo Upon
Auspicious Opening Of New Credit
Institutions Of the Country.
Western Newspaper Cntop News Serv,cs

! Western Newspaper Cniop News Service.
Washington.-'A future clear and
BRIGHT with promise of the best
things was the way President vii.
son summed up his view of business
prospects in letter to Secretary Nc.
Adoo congratulating him upon the
opening OF the new federal reserve
bank system
The presidents letter. which was n
reply to one from Secretary McAdoo
announcing oe opening of the reserve
banks, said:
Il DO not know that any specia,
credit belongs to me for the part T
was privileged to play in the establish.
ment of this new system of which we
confidently hope SO much: in it the Ia.
Dor and knowledge, labor and fore
thought and practical experience and
sagacity Of many men are embodied
who have co-operated with unusual
wisdom and admirable public spirit,
Its accomplishment is of the deem.
est significance, both because it has
done away with agitation and suspi.
cion and with certain fundamental
wrongs. and has supplied means of ac.
cOmmodation in the business world
and an 1nstrumentality by which the
interests OF all, without regard to
class, may readily be served.
I'VE have only to look back 10
years or so to realize the deep Der.
plexities and dangerous ill-humors out
OF which we have now at last issued.
as II from a bewildering fog, a nox.
fous miasma. Ten or II years ago
the country was torn and excited by
an agitation which shook the very
foundation OF her political life Those
who power, whether in business
or In politics, were almost universal.
" looked upon with suspicion and it,
tie attempt was made to distinguish
the just from the unjust. They in
their turn seemed to distrust the peo-
pie and to wish to limit their control
There was an omnibus antagonism
bstween classes. Capital and labor
were in sharp conflict without pro,.
kAlct OF accommodation between them,
Interests harshly clashed which shoa,d
have co-operated.
"Thfs was not merely the work of
irresponsible agitators. There were
real wrongs which cried out to be
righted and fearless men had called
attention to them, demanding that
they be dealt with by law. We were
living under tariff which had been
purposely contrived to confer private
favors upon those who were co-operat.
ing to keep the party that originated
It in power; and In that all too fer.
tile soil, all the bad. interlaced growth
and the jungle of the monopoly had
sprung up. Credit, the very life of
trade, the very air men must breathe
II they would meet their opportuni.
ties, was too largely in control of the
same small groups who had planted
and cultivated monopoly. The control
Of all big business and by conse-
quence Of all little business. too, was
for the most part potentially, IL not
actually, in their hands.
"And the thing stood so until the
Democratic party came into power last
year. The legislation of, the past year
and half has in very large measure
done away with these things. With
their correction, suspicion and illwill
will pass away. For not only have
these things been righted, but new
things have been put into action which
are sure to provide the instruments of
a new life, in which the mists and dis.
tempers which have so embarrassed US
will be cleared away; the wrongs and
MISUNDERSTANDING corrected which
have brought distrust upon so many
honest men unjustly. That is the
main ground of my own satisfaction.
1.-THE tariff has been recast with a
view to supporting the government,
rather than supporting the favored
bene Sciaries of the government.
"A system of banking and currency
issues has been created which puts
credit within the reach of every man
who can show a growing business;
and the supervision and control of the
system is in the hands of a responsi.
BILE agency of the government itself.
A trade tribunal has been created in
which those who attempt unjust and
oppressive practice in business can be
brought to book. Labor has been made |
something else il the view of the law
than a mere mercantile commodity.
something humsS and linked with the
privilege of life ITSELF"
Goss LEFT Estate Of $4,000.
ChicaeO.-An estate 100000 wac
left to members ct his family by the
late Frederick l.. '}oss, printing press |
manufacturer.