South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-10-29

i ~
conducted can arrange to place its Sc
curities with government reserve
bank and get money TO tide over any
run. It also provides for one re-
serve bank where there is limited call
| for money taking securities OF re-
serve bank where lots of money Is
needed and by this system hard times
in certain localities can be relieved
| by money from more prosperous
communities.
| Antitrust Laws.
Also for many years our trade and
industry was beset with combinations
of powerful financial forces known as
trusts They were so powerful they
fixed prices and limited competition
at will They went further than this
and controlled shipping and the
money supply and the people suffered
accordingly. We have just put legis-
! lation on the statute books TO destroy
abuses of soulless combinations and
protect legitimate business, be IT big
or little and this too Will help to
steady finances and prosperity by the
certainty that there can be no hold
! up methods in our commerce.
Panic Threats.
When these long needed reforms
, in unfair and unsafe business were
undertaken there came the same old
| threat of panic If you do" and ii was
brOadcasted by scare-crow speeches
! by Republican Leader Mann in the
/ house and Republican Leaders Root
! and SmOOt in the senate. 1t was told
that when Sen. Root predicted a
panic in a speech at a meeting of the
republican national committee last
winter. the audience of sCand-patters
stood up and cheered. But Pres't
Z Vrre Ev,o 1rafp r
who maliciously started q. panic and
/ the manufacturer or capitalist who
I tried to depress industry would be eX
posed and punished he would be
! everlastingly disgraced and that was
/ the last of the panic talk. Then when
money was needed to move crops the
[ democratic secretary Of the treasury
| sent the money directly to the locaH-
! ties where II was needed rather than
/ to wall St to be loaned from there TO
the banks located in farming COM
munities.
This is the Wilson way of doing
/ things-the right way.
WatchfuI Waiting
In the midst of the busy work OF
the administration in correcting
/ a buses by enacting wholesome laws
! the warning factions in Mexico be-
come so threatening TO the United
States that we had to move our army
and navy to Vera Cruz to protect our
people and our rights. And the
/ jingoes urged war with all its horrors
and wastes but our president adopted
4 watchful waiting and stern insist
ence on the retirement of the MeX-
/ can president who achieved his office
/ by murder and the result has been so
satisfactory that even the presidents
I belligerent critics at the time now
praise his wisdom in saving US from
war and leading the way for eventual
peace and order in Mexico.
European War.
| Following the Mexican trouble
war suddenly and unexpectedly broke
out in Europe and spread until it has
involved six or eight of the leading
nations of the earth.
when the European war broke
out our income from tariff taxes fell
/ off $1O,0OO,0OO the first month and
| SS,0OO,0OO the second month and
! Pres't Wilson promptly informed
/ congress that in order TO protect our
government treasury and avoid max
J ing money scarce by calling the gov
! eminent reserve deposits from the
! banks throughout the country a rev.
enue tax would be necessary. But un-
! fortunately the administration had
I shifted about 500, 900, 900 from tariff
to income and corporation taxes and
/
! preserve our finances until the war Is
ended and foreign trade reestablished
! is only half what it would have been
without the income and corporations
taxes
Yes Votes by Opposition.
Have you heard republican and
progressive campaign speakers de-
nOuncing the democratic legislation
If you have listen to this. They don't
vote the way they shoot-their
mouths.
I'm the house and senate 1874 re-
pUblicans and prOgressives voted for
election OF United States senators by
popular ballot; II voted for the I'm
derwood tariff: 43 voted for the
/ Glass owen banking and currency
act; GO voted for the Clayton anti
trust law; 107 voted for the railway
/ securities law; 146 voted for the
resolution giving Pres't Wilson free
/ hand in the Mexican trouble; only six
of them voted against the war emer-
gency money issue; II voted for the
revenue war tax bill, and the federal;
trade commission bill. Lever agricul-
/ tural education bill. employees arbi-
tration act. and registration of for
, eign built ships act passed the house
/ bv reclamation and without request
; for roll calls and in the senate prac-
tically the same way, and lS OF the
/ principal appropriation bills passed
the house by Neutrality-suspicious.
/ yea and nay votes.
/ Woodrow Wilson.
Who is this man, Woodrow Will
son, of whom so much is being said
and what is he doing that makes him.
J everywhere. so popular in the estima-
/ ton OF men2 What has he done? He
has accomplished ar honest revision
! Of the tariff downward which had
/ long been promised by the party pre-
! viOusly in power and left undone. He
has led in currency legislation which
will make banks safe and depOsitors
! secure He has said that business
must be free from trust abuses and
/ it has been done. He has said that
! labor shall be given a fair deal and il
| has been done He has said that the
promises Of his party shall be kept
and il has been done. He has said
! that the rich must bear their full
share of government expenses and
- 10 1r.o- hot ha