The Bridgeport evening farmer., 1914-11-18
Past A Bad Dream, President Declares;
 Big Business Ahead
Reserve Banking System Will Break Business Shack1es, He Says-=Con- graduates Secretary McAdoo
 on His Newest Labor

' fs sairgtoz, Nov. 1ssIn letter -, vssser1a.v by President WiI- Mnu to Secretary McAdOo in reia1lon an me ope penang Of the new Federal Reserxe Banks, the PreaddenT taxes nm optinnfatto view of the econ ornac aTsa goeial future of the United states F4s refers to the suspicion betNs cen the mnvernaent and big business as sfls7,z Of the past sonnet 1llss,% 4e | .fsssFlze that will be looked upon as g MSh dream Government and pssAness = epang b advance toward prosper Es1@ si5a by side. inz the Presidents ''s.ss,1sslz - s<s al in the sam boat. dgsl pzaAreEt1y ws bad fzEotfsn " z he 1aIHz I'm vespnn6e# to 0 notb frlxn SecreSaFy 7lIuAdoo suzooncing that the new naL- {5oual baufxing and currency system s1aa been 1Aangstzated. The Sa4azssTF Owen Currency aot z11a1oafzess as me dent eees 1t. niae new era 1n a IF Lns i7sr=i1aakzon o9 his admlnA stton as 1nazang dune away with as4taft0n ana s.1za1..zrtcfor because 1t has done away ' l10rth certain Fundamental sEFcn Ae z f7as corrected wrongs ard m shsaln<le1 nie1s sz<=ss,4Ss<1is1rzs (which have bronynt qas- SSs.ssf. az5sorl 50 many honest men szz1-7 G,lTsr|ITs1.s 1sais. says the EFes1deaat Is 4bs naain ground Of his osv ga isf ac-- dion.
 tss.n, of the Presidents letter Is that svTqzsSsi1 refers to the railroad as There in s suggestfo that he syzr peTnazes s,.szffsl the railroads in their s9lroTI 70 s5a4aszzs per11Asston to advance eneAr frs6ehk zates in the FT'esad de11ss staFe- F1se.zlt that they are afEected not go 7sl4,9sf, because their business is cur fai1ed a because their credit is called fT4 crr7sstion by doubt of heir earning edcRty-
 :sslo aoubl tn the hghk of the new. day. with its new azAetertssa.na {. sa--s she Rrestdent. he pro 9lezas pr fa5s radlrDads win also be met aIo deaat with fn spirit of calAdor and ''zs Hsre ia Aar aasAsdooss aettar to the Yasl1ins4ou.
 Nov if. 1914. naax Mz Hrestdent: E nave the honor to inform you fhax ths twelve Federal reserve banka a11thordzed by the hseaeTa1 Reserve act approved Decs zs, 41sS, 4vers formally opened for hlIsiness 5ns3a,v May ! take advantage o6 flRs opportunity to feHcztaee you ,sa ssse1 as ozasraG1uzate you upon f6e actual esf hnent cf these bauas. which are the xssuEt of the arse4 p1sce Of 6naucia1 lee35lat1on with which your name fs 1nper- ss11al5Yv asssocza1ed and which nsson1sess in my 5udE1ne aEs inn nasaeuzsbas beEaefats to tae AEaera-
 Hsaat1fnlly zoarzs.
 w C. 1gnADDo-
 zs,e Preailaert, inc white House.
 President wilson rssponded as fol- psvuz
 ma oe Aeai...s.au.a a1sa sussbicson-
 1.se ss.
 ato11,
 1zesz. az. 1sz4
 warmly apprectabs your letter ef yesterday. for share 5our feel- 3r1rx exrtne1y about the gig aftcanca of the opening Of the Fed dsraI Re aeve Banks for busizseaas
 do not know that any special credit belongs to me for xshe part waa pxfyf1eged to play In the eS- R.xalshmenf af this new e5snem of w4aAnza we confidently Hope so rsurhS 4n # the labor and knoST1 cal experiences and sag eacdfy Of mary men are embodied rho have aD-ucernEsd win uzal1stza1 wisdom mn adzn1ra1se pud5IAc spirit None f zheus am sure VIII be 5eatous Of fine distxfbat1on Of the praise Tor fa1e great p1esp Of legislation upon which tho new system rests theT will only redolce uasslhssaliy tos sec 4aae stzaiza< lsa aed upon Wzleh Elae lad sst taAskf D hzarta
 has been aecornp lzslaed, and 5ks acooznpzi ziah1neut is of the deep nsf eiendcaz7ce, both because Of fizs things il has done ava with and because Of the thlnes # has supp76ed that the count lacked ara had long needed It has done becazlee 1t has done away with cekEa1n fundaznentaI wrongs It has supplied means Of aEcpmzno- dnf1ou in the bus1ness world and an hlstxuuaeutal1ty by which the interests of all. without regard to eEaAa, may readily be served
 Ws have only to look back ten y@arm or 50 to realize the deep perplex1tzes and dangerous iH-hu naors out Of which we have now 1t last issued as if from a bewild- erlng fog, noxlous n1iaszna. Ten or twelve years ago the country was torn and excited by an agita- ton which shook the very founda lions of her political life, Drought her business ideals into question: condemned her social standards, denied the honesty Of her men of affairs. the integrity Of her econon- lc processes. the morality and good faith Of many of the things which her law sastafned
 Those who had power. whether in business or in politics, were al most universally looked upon with suspicion. and little attempt was made to distinguish the just from the unu5st. They in their turn seemed to distrust the people and to wish to limit their control There was ominous antagonisn be- tween classes Capital and labor were in sharp conflict without pros- pect of accommodation between them. Interests harsh1y clash ed which should have co-operated.
 Heal Wrongs to Be Lighted