Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1914-01-27
BRYAN SPEAKS FOR
ADMINISTRATION
POLICIES
Secretary Of State Believes
Competition Is Sure to Be
Restored by Which Prices
VIII Be Lowered,

I
New York Jan. 26.-President
Wilson's policy toward business and
his proposed Legislation affecting
trusts promise "a lower cost of living
at home and increased international
trade William J. Bryan, secretary Of
state, asserted in an address before
the American Asiatic society to-
night
Secretary Bryan discussed the adj
ministraton's attitude toward foreign
commerce as reflected by the tariff
and currency reform measures and
It's policies toward private monopoly
and the Chinese loan question.
Abiding to the governments pro-
posed regulation of trusts and the
probable effect, Mr. Bryan said
The president has outlined a re-
form whose influence cannot be
bounded BY national lines He has
declared war on private monopoly,
and this means the investment Of cap
ilal that has hitherto been frlghtenc1
away from Industrial fields If the
new policy results in a reduction JIM
The size Of corporations that nave be-
come ovcrgrown. II win mean a larger
number OF Independent and compct-
ing enterprises, and this competition
VIII mean q better article al a lower
price.
III is worth while to inquire
whether monopolizaton has not rt-
suited In the restriction Of exports,
for the maintenance Of abnormaW
: high prices at home tends to prevent
/ expectation, the manufacturer fearing
4 that reduction of price abroad
might result ia The loss Of advantage
enjoyed az home. In proportion as
Industries rest upon thoir own merits
rather than upon legislative favor
just in that proportion will they be
I strengthened for successful contest
with competitive Industries through
ont The world"
The authorization of international
banks under the currency law viii
stimulate foreign trade In the orient
and throughout South America, Sec
rotary Bryan said. and the new tariff
means larger International COM
merce. of which the orient will have
her share
The secretary's discussion % thu
Chinese loan was made subsequent
to a speech by willard Straight. presi-
dent of the society. who said many
merchants Interpreted the presidents
policy 20 mean that The American
government would not extend to
bankers the support which those fa-
miiiar with trade conditions in China
lconslder necessary.
Ia reply, Secretary Bryan said
The new administration in with
drawing approval from tine Chinese
loan did not question the good faith
or good intent Of those who had seer
in it a means of increasing our I'M
nuence prestige and commercial pow
er in China The president believed
that r different policy was more CON
sistent with the American position
and that II would In the long run
be more advantageous to our com
merce. IL would not be fair 20 at.
tribute a falling Off in trade, TO which
reference has been made TO tho
change I'm policy because the new pol
ley has not Vet had time 10 bear fruit
even il political conditions had been
Icntiroly favorable"
Pres idont Wilson. the secretary add
cd "is cultivating the friendship o
the people across the Pacific tie haN
already spoken a word Of hope to IN,
Filipinos A recognition Of the right
cf the FiIpinos 20 work ont their owr
destiny win strike a responsive chort
wherever the people have feared for
clgn influence
Broadly the presidents policies
MIR Bryan said. contemplate the for
nation of an environment which viii
encourage the growth OF al that Il
good. m by "a cultivation of highei
standards of morals the secretar.
, concluded eve can assist any peopl
anywhere 10 improve their mora
, standards. we shall not be without on
reward