East Oregonian : E.O. (Pendleton, OR) 1888-current, 1914-12-05

VI nv AAhS suns Jt"NiS AhN NhN'Ni
Gals. there will be balance in our
favor TO be adjusted by the shuffling
OF symbols-money.
When the buyers Of our excess OF
sixty millions OF American products
come to pay, We in this country will
have made such an exchange OF cred
its as will enable us to say
Just hand that money over to our
creditors in your country"
AS matter OF fact, the operations
OF the informal international clear
ing house" are sufficiently well un-
derstood by the bankers who attend
10 the collection OF bills for goods
sold abroad that no trouble will arise
over such a process Of adjustment
What most Of us are really con-
cerned about is keeping up that rec
ord OF export excesses; to insure a
continued balance in our favor We
must learn to cut down our bills for
foreign things and make every intel
ligent effort to increase our output
OF things which Europe must buy
Until we settle our debts abroad We
must look for small expenditures at
home in the starting of new works
Until that time comes, therefore, We
should use our energy and capital in
increasing production with our pres
ent plants and facilities and supply Of
labor. We can keep busy.-Chicago
News.
Mr.. Sinnott is a republican con-
gresham and when he makes a speech
he naturally makes
He Is a Strong a republican speech.
President. But he is joking
when he says the
Wilson administration is weak ad-
ministration.
Not in the last half century has the
country had another president who
exercised such mastery over affairs
as has Woodrow Wilson. Yet he has
dominated not through driving men
but by leading them. He mas had the
ability TO know what to do and 10
point out the course so clearly that
there has been no escape from it.
President Wilson has handled big
affairs and done so with success. He
saw that the tariff was revised in ac-
cordance with the promises of his
party. He took up the currency or
banking question and solved it when
past administrations had been unable
to do so. Furthermore the law en-
acted is for the people, not for Wall
street. When the law was under con-
sideration it was opposed by New
York bankers and all the country
bankers Wall street could influence.
Wall street wanted a different law
entirely but they found the president
was not under their control. The law
enacted looks to serving the producer
and the manufacturer rather than the
stock broker. It is as il should be
and il means our financial system
now stands upon it's feet not upon one
ear. The enactment of the new bank
ing law constitutes the greatest SER
vice any admipistration of modern
times ever rendered the farmers of
this nation. The reform is basic and
the law was enacted against the op-
position Of the financial oligarchy of
the country. The man who brought
that about was not a weak president
but a very strong one, no matter what
the opposing politicians may say.
Upon other subjects the president
has shown equal strength and fore
sight. He has shown a cool head and
an iron determination to do what he
thinks is right in our foreign affairs.
He refused to recognize a drunken
murderer as president Of Mexico and
though his course caused the tory and
the lingo newspapers to malign him
fiercely his action was right and it
was the act Of strong president, not
a weak one. A weakling president
would have recognized Huerta and
helped him keep the shackles Of serf-
dom on the people of Mexico.
The howl about the war tax being
and due 10 administra-
tive faults is not based on facts. The
new tariff law had been in force al |
most year when the war broke out
and the revenues we're meeting ex-
penses until our import commerce
was destroyed by the war. The plain
truth Is that our customs revenues
have fallen off because many Of the
ships that formerly brought merchan-
disc to this country have either been
taken for war purposes or sent to the
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