Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1914-01-01

Believes Act Will Mark New
Epoch in Business Prosperity.
MEASURE BECOMES A LAW
This Is the First of Series of Con.
structive Measures The Democrat
ic Party Means to Pass" Is
Presidents Promise

Washington, Dec. 26.-President
Wilson affixed his signature to the
currency bill in executive Offices at
the White House Tuesday.
There were present at the ceremony
the majority of the members of the
cabinet, members of the senate and
house committees on banking and cur
rency, Mrs. Wilson. the Misses Flea
nor and Margaret Wilson and Mrs
Owen.
Immediately after the president
signed the bill he wound up prepare
tons for his vacation and left for Pass
Christian, Miss. Tuesday night
After signing the bill the president
arose from his desk and said:
The most significant fact in the
passage of the currency bill by both
the house and the senate was the team
work evident in both chambers One
Of the most pleasing and gratifying
results was the great number of Re
publican votes cast for this measure.
4 need not tell you that l feel very
deep qualification at being able to sign
this measure and the very deep esteem
for the men who made it possible for
me to sign it.
There have been currents and
counter currents that threatened the
existence of the bill, but it has come
through safely. Especially to the
chairmen of the two committees and
then to the members of the commit
tees themselves I wish to tender my
congratulations for bringing this bill
safely into being.
This is the first Of a series of con-
structive measures which the Demo
cratic party means to pass in order to
better serve the people.
I'm saying this I do not wish to cast
any reflection upon the tariff bill. But
that was passed in order to remedy
existing evils. This is strictly con-
structive measure. | consider it
happy omen that it has been made a
jaw just fifty years after the passage
of the national banking act in 1864.
1--WE have come to the enc of the
day of criticism. What we have been
trying to do has been to engage in
peaceful fight for the betterment of
conditions. This day of peace has ar
rived. Business men have come to
better understanding of conditions and
criticism has been entirely obliterated.
Today marks the constitution of peace.
We have simply been seeking to
serve the best interests of the coun-
try. I believe that the passage of this
hill will rIy ir, tbe hive 81
ness prosperity"
The pen with which the president
signed Woodrow he presented to
Representative Glass. That with
which he signed Wilson" he present
ed to Senator Owen.
The senate and house adjourned for
the Christmas holidays. Congress will
reconvene on January II.
The exodus of national legislators
for the holidays is on in full force, the
senators and representatives, their
task completed, hurried In the city,
happy to return home after the long
session that began last April.
The signature OF the president
makes the bill a law, but it will. not
become operative until an organiza-
ton committee draws up plan of pro-
cedure. This committee consists of
the comptroller of the currency, the
secretary of agriculture and the sec
rotary OF the treasury.
1t may be several months before this
committee has concluded its work and
put the law into operation. The AL
ire has hpon eYfeudad until limo On
1915, but will be superseded as soon
as the Owens-Glass measure becomes
operative.