The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1914-07-09
RAINEY RESPONDS TO.
CALAMITY SPEECHES
Says Artificial Control Can No
Longer Rule Democratic Man
agement Of Law. ~
WOULD SACRIFICE PROSPERITY
Il Message Delivered by Congressman
in Condemning Action Of Some in
Seeking Party Advantage. 8.

By Congressman c. H. Tavenner.
Washington, July 9.-"The time
has come when under Democratic
management the laws OF trade can
no longer be artificially controlled
The prosperity for which the coun-
try has waited since the Republican
panic of 1907 is almost here. 1t is
impossible for Republican orators,
for Republican journals, for Repub-
lican prophets of calamity and dis
aster to stop the rising tide of pros
perity; they cannot contend against
the conditions which confront them
now. Willing and anxious as you
Republicans seem to be to sacrifice
national prosperity to political ad-
vantage, you cannot make progress
against reviving trade conditions
throughout the country" .-..
This was the answer of Represen-
tative Henry T. Rainey of Illinois, to
the torrent of Republican calamity
speeches which poured forth in the
house following in the days follow
ing the Chaflin dry goods failure. Mr..
Rainey served notice on the Repub-
licans that henceforth eve propose
to answer on the Democratic side
such unpatriotic, almost reasonable
prophecies of disaster as the gentle
men on that side so frequently
make"
It was an exciting moment in the
house. The Republicans had been
capitalizing on the Chafiin failure
for hours during general debate.
And when Mr.. Rainey delivered his
solemn warning, the Democratic ap-
plause became tumultuous.
The Illinois statesman first ana
lyzed the Chaflin failure and showed
that it was due to shifting Of trade
centers in New York and to an ex-
tension of business beyond the
power of the dry goods kings to fin
ance it properly No Democratic
legislation was even remotely re-
sponsible for this disaster, but on
the other hand, declared Rainey, one
piece of Democratic legislation, the
new banking law, undoubtedly saved
the country from serious consequent
ces following this financial crash.
I'm connection with the Chaflin
failure" he said, "two days ago there
came to us the news that throughout
the country from 5000 to 5000
banks held the paper of this con-
Germ, and there is no talk about a.
bank panic or any failing of securi-
ties throughout the country-so
strong is the confidence in the pres
ent administration and in the fact
that the Federal Reserve law will
soon be in operation. On account
of this great piece of constructive
legislation there will never be an
other bank panic. And when the
trust bills become laws there will
never be another period of serious
business depression"
Mr.. Rainey then contrasted the
present business dullness with the
terror and panic of the Republican
hard times of 1907 In that day, he
Said, not a single Democratic speech
was heard in the house at tempting
TO make political capital against the
Republicans. On the contrary, he
said, the Democratic speeches were
patriotic, full of optimism, and did
much to end the condition of panic
o.: Rainey then recited a long list OF
events which occurred Immediately
after the stock exchange panic OF
the fall of 1907-hundreds of thous-
ands of idle men in New York, Chi
eago and other cities, immigrants ap
pealing to charity for transportation
back to their native lands, bread ani
race riots, suicides, prayers for work
mobs, sacking restaurants for food
From this great panic, under the
wise guidance of the present Demo
cratic administration, we are just
recovering. 1t was brought about
by long periods of legislative mac
tivity in this country-inactivity
here in this body. All these prob
lens which you pushed forward in.
definitely into the future, lacking
either the executive or Legislative
ability or the courage to meet OF
to handle, came to us, and we are
solving them all, every one of them
Sinking no responsibility but plac
ing the constructive legislation upor
the. statute books of the country de-
eainanded by the business condition:
OF the present period.
: The amount of much-needed leg
5islation we have placed on the stat
se ute books have been equalled by ns
ether administration in this coun
try in a century of time. w,
propose to stay here until the trus
. bills are enacted into law. A dis
credited invisible government canno
prevent this much-neede legislation
The dawn Of new day has come"
. Il