The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1914-11-18


WASHINGTON, Nov. ia future
clear and bright, with promise cf the
better things" was the way President
Wilson summed up his view OF the
business prospect tonight In letter
to Secretary McAdoo, OF the treasury
department. congratulating him upon
the opening of the new federal re-
serve bank system.
Fundamental wrong once rlghted
as they may now easily and quickly
be-" wrote the president, Hall differ
ences viii cleer away. We are all in
the same boat, though apparently we
had ser:settH.. q. Ne -.o77 az1.Iw tie
port for which we are bound. We
have. and shall have more and more
as our new understandings ripen, q
common discipline of patriotic pur-
pose. We Shall advance, and adj
vance together, with a new spirit, a
new enthusiasm, new cordiality Of
spirited cooperation. 1t 10 an in
spring prospect"
Mr.. Wilson referred to the new
tariff law. the new currency law, the
new tTaIe commission law and the
labor provisions of the new ANTITRUST
law as the means through which "the
soil has everywhere been laid bare
out of which monopoly is slowly to
be eradicated." He added that sun
doubtedly the means by which credit
has been set free is at the heart of
all these things; is the keypiece of
the whole structure"
FJsferring to the opportuneness of
the currency law, the president said:
"The war which has involved the
whole Of the heart Of Europe has
made 1t necessary that the United
States should mobilize its resources
In the most effective way possible"
He spoke OF the difficulty In market
ing the cotton CROP of the country
and added that mo doubt in the light
of the new day with its new under
standings. the problems OF the rail-
roads will also be met and dealt
with In spirit CT candor and JUS
tice."
The presidents letter. which was
in reply to one from Secretary Nc
Adoo, announcing the opening OF the
reserve banks. said:
my Dear Mr.. Secretary: warm
y appreciate your letter OF yesterday,
for + share your feeling entirely
about the significance Of the opening
Of the federal reserve banks fer bus
iness.
~ do net know that any 81 cial
credit belongs to me for the rart I
was privileged to play In the estab-
lishment OF this new system OF which
we confidently hope so mTch; In It
the labor and knowledge and fore
thought and practical experience and
9; s.. e!.S cf :::.=Gs' :::eG
who have eooperated with unusual
wisdom and admirable public spirit.
None OF them. am sure, will be
Jealous of the distribution of the
praise for the great piece Of legisla-
tfon upon which the new system
rests: they viii only rejoice unsel-
flshly to see the thing accomplished
upon which they had set their hearts
[ .It has been accomplished, and its
Accomplishment Is OF the deepest
signihcance, both because OF she
things 1t has done away with and
because OF the things II has supplied
that the country lacked and had long
needed. It has don9 away with agi-
tation and suspicion. because II has
done away with certain fundamental
wrongs. 1t has supplied means OF
accommodation In the business
world and an snstrumentaiIty by
which the interests or all, without
regard 10 elass. may readily be sery-
ed a s.
swle have only to look back ten
years or SC to FeaIise the 1sep per-
plexities and dangerous ill-humoTs
out Of which we. have now at last Ia
sued. as u fr1m q aewiideriHE fog. d
rpSionB Iaiasina Tee or twstve years
ago the country was torn and excit5
ed by an agitation which ahnnk tho
.vasser fanuaafioia ~ her. rf,S;tfeat fifas