The Alaska citizen. (Fairbanks, Alaska) 1910-1917, 1914-11-30
Phone 262 Phone
DEMOCRATIC PROSPERITY.

Democratic prosperity" for which
President Wilson has been working
so hard since he took office. is about
to be realized. according to present
indications.
In its first issue after the election,
The Citizen pointed out the fact
that the Republican success in vari-
Gus parts of the country was due
to the hard times in the States for
the past year, but it was asserted
that with the opening of the new
federal reserve banks. there would be
a dawn of a new prosperity.
Last Monday morning, just one
week after the new federal banks
We're opened, the Illinois Steel com
pany reopened its doors in Chicago
and 1000 men We're set to work, +
was announced at the same time
that the force of men would be in
creased soon.
In the industrial world steel plants
conditions. for almost all other kinds
of manufacturing enterprises use
steel in varied quantities. When
other kinds Of manufacturing shut
down, the steel plants must follow,
as a rule
Thus the reopening of this big
~
there is sudden demand for steel
from other manufacturing plants and
from large building concerns In
other words, it means that there is
an industrial awakening that is Of
importance to the entire country
The greatest use for steel in these
days is for the big buildings There
is a foolish opinion in some places
that the big steel plants depend up
on battleships and other ship con
struction, but the fact Is that a few
modern skyscrapers will use up more
steel than one of the big battleships
When there is prosperity. people
such development work, but as soon
as hard times commence, the build
ing operations are sure 10 stop. or
be decreased.
The Citizen based its prediction
about the good times to result from
the opening of the federal reserve
i,in 10
expressed by leading bankers of the
country, When the plan of establish
ing federal reserve banks in various
parts Of the country was suggested
it met with opposition on the part
Of the leading bankers at the begin
ming. but after the details of the
once changed their attitude. and in
stead of opposing the plan, gave it
their hearty support.
The purpose of the federal reserve
banks is to take the control of the
finances of the country out Of the
hands Of the moneyed powers in
Wall street. In other words, the
banks will prevent the moneyed in.
terests from making corner on
money, and preventing its circula
ton. BY this means it is hoped
that the new currency law, which au-
thorized the federal reserve banks
will cause the financial panics to
be things of the past
II President Wilson did nothing
else during his term Of office than
to provide a way for limiting the
powers OF the big financiers, he would
still be entitled to the undying graft
tude Of the nation. But he has done
more, much more. and it is safe to
assert now that Mr.. Wilson will
have the conservative element Of
all political parties back of him be-
fore the next two years have passed
Everything that Mr. Wilson has
done has proved his excellent execu-
tive ability. He has proved to the
people Of the country that lawyers
are not the only people who can
handle the affairs of the nation He
has opened the way for men Of other
vocations to enter politics, and he
has demonstrated that we must look
to the individual. and not the pro-
fession from whence he comes, for
a President, as we'll as for our other
important officials
Another very important thing that
We have learned as a result Of the
administration Of President Wilson,
is the fact that the panics that have
been promoted whenever a Demo
crat has been elected to that office,
are Of an artificial nature, and are not
due the real economic conditions,
but to the manipulation Of the big
financial systems Of the country that
are interested in a high tariff.