Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1914-12-03
FUTURE IS BRIGHT
WILSON DECLARES
President Says Era of Umpire.
cedented Prosperity Is at
Hand-Praises New
Legislation.

Washington Special: In a letter to
Secretary McAdoo, recently made pub
nc at the White House, President
wilson summarizes the business situa-
ton in America as being bright with
promise of the best things" The pres
ldent says that the recently enacted
legislation, together with the growth of
lofelgn trade are having their effect
upon business conditions throughout
lhe country and that an era of UMPIRE
cedented prosperity is setting in.
Text of the Letter,
The presidents letter, which was in
reply to one from Secretary McAdoo
announcing the opening of the reserve
banks, said:
Ny Dear Mr.. Secretary: / warmly APP
PEeclate your letter of yesterday, for l
Significance of the opening of the federal
reserve banks for business.
| do not know that any special credit
legged to play in the establishment Of this
new SYSTEM, of which we confidently
nope nope So! SO much ae in it the labor, knowl-
perlence and. saSacity of many men are
embodied who have co-operated with
unusual wisdom and admirable public
spirit. None of them, l am sure, win be
jealous of the distribution of the praise
Tor the great piece of legislation upon
onlv ra {ne new ensa sigssthem rests; they viii
- 'f''1C 81 " SSS lllt lIllS
accomplished upon which they had set
their hearts.
Evils Are Abolished.
1t mas been accomplished and it's ac-
complishlnent is of the deepest signih-
canoe, both because of the things it has
done away with and because of the
things 1T has supplied that the country
lacked and had long needed. 1t has done
away with agitation and suspicion, be-
cause it has done away with certain fun
damental wrongs. 1t has supplied means
I a rpD M nlGIa linn in tlAn- ,,,,a@ ---ll
and an instrumentality by which the
interests Of all, without regard to class,
may readily be served.
wv have only to look back 10 years
or so to realize the deep perplexities and
dangerous Ill. huInors out of which we
have now at last issued, as if from "A be-
or II years ago the country was torn
and excited by an agitation which shook
the very foundations of her political life,
brought her business ideals into ques-
ton, condemned her social standards, de-
MED the honesty of lser men of affairs,
the integrity of her economic processes,
the morality and good faith of many of
the things which her law sustained.
Those who had power, whether in bust
ness s;1 or in politics, were almost univer,
little attempt was made to distinguish
the just from the unjust. They, in their
turn, seemed to distrust the people and
to wish to limit their control. There
was an ominous antagonism between
classes. Capital and labor were in sharp
Gonf1ie e without prospect of
FLASHED which should rave co-operated.
Break Grip on Credit.
This was not merely the work of ire
sponsible 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 a tariff which had
been purposely contrived to confer favors
upon those who were cooperating to keep
the party that originated it in power; and
in that all too fertile soil, all the bad. in
terlaced growths and jungle of monopoly
trade, the very air men must breathe If
they would meet their obligations, was too
largely in the control of the same small
groups who had planted and cultivated
monopoly. The control of all big business.
and by consequence of al little business.
too. was for the most part potentially, if
not actually. in their hands.
And the thing stood so until the demo-
cratic party came into power last year.
The campaign for the last year and a
half has in a very large measure done
%rection. suspicion and i'll will win pass
away. For not only nave these things
been righted. but rev things have been
put into action which are sure to prove
the instruments of a new life in which the
mists and distempers which have so en-
barrassed us will be cleared away; the
wrongs and corrected
which have brought distrust upon so many
honest men unjustly. That is the main
ground of my own satisfaction.
The tariff has been recast with a view
to supporting the government rather than
supporting the favored beneficiaries 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. going business: and the
supervision and control of the system ia
In the hands of a responsible agency of
the government itself. A trade tribunal
has been created In which those who at
tempt unjust and oppressive practices in.
has been made something else in the view
Of he law than a mere mercantile COM
modify. something human and linked with
me privileges of life itself. The soil has
everywhere been laid bare out of which
monopoly is slowly to be eradicated. And
undoubtedly the means by which credit