Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1914-11-19

been riglted, but new tplngS nave pesn
put into action which are sure to prove
the instruments Of new life, in which
the mists and distempers which nave So
embarrassed us will be cleared away
the wrongs and Observation-Disclosures cor
rcctcd which have brought distrust upon
so many honest men uniustly That Is
the main ground Of my own SUBTRACTION
"rhc tariff has been rccast with view
to supporting the government rather than
supporting the favored hencticiaries ol
the government. \ system of banking
and currency issues has been created
which puts credit within the reach of
every man who can show going busl-
ness: and the supervision and control OF
the system is in the hands OF respon-
sibc agency of the government Itself
A trade tribunal has been created in
which those who attempt unjust ana on
prossivo pra cticcs in business can he
brought to book Labor has been made
something else in the Wow of the law
than mere mercantile commodity,
something human and linked with the
privileges Of life itself. The soil has
everywhere been laid bare out Of which
monopoly is slowly to he eradlcated. And
undoubtedly the means by which credit
has beon set free is at the heart OF all
these things, is the keYpiece Of the whole
structure.
SPECIAL DIFFICULTIES.
This is the more significant because "f
it's opportunities. VI is brought to its tina!
accomplishment Just it Is most impcra-
lively needed. The war which has in
volved the whole of the heart of Europ"
has made it necessary that the United
states should mobilize its resources In
the most effective way possible and max"
her credit and her usefulness good for the
service of the whole world II has ere
ated. too, special difficulties, peculiar
I situations, to he dealt with, like the great
! embarra ssmout in selling our immcrsr
cotton crop, which all the world needs but
against which, for the first time being,
| the markets of the world are In danger Of
being artificially shut That situation
| the bankers Of the country are meeting
30 far as possible III businesslike fashion
and In the spirit of the new time which is
opening before us The railroads of tho
| country are almost as much affected. not
SO much because their business is cur.
! tailed as because their credit Is called IN
question by doubt as to their earning ca
| pacity. There is no other interest so cen
trail to the business welfare of the coun-
| try as thia No doubt in the light of tho
new day. with it's new understandings tn,
| problems Of the railroads will also be
met and dealt with in a spirit of caudo,
| and Justice.
"The future will be very different
from the past, which we shall presently
look back upon. ] venture to sa' H
upon bad dream. The future will b,
different in actions and different i
actions and different in spirit, time
of healing because n time Of just deal
ing an cooperation between men mad,
equal before the law in fact as well a
I in name. I am speaking of this he
cause the new banking system seem.
7 to me to symbolic all of it. The open
ing of the federal reserve banks seems
/ to me to he the principal agency we
have created for the emancipation We
seek. The sixteenth of November. 19l {
will be notable as marking the time
when we were best able to realize just
what had happened.
I'm the anxious times through which
we have been passing You have. my dear
Mr.. Secretary, been able to do many
noteworthy things to strengthen and
facilitate the business opera tons of tn,
country. Henceforth YOU have a new in.
strument at hand which will render many
parts of Your task easy. | heartily con
graduate YOU upon the part you yourself
have played in it, conception and crca
ton. and upon the successful compile
ton Of the difficult work of organi2a