The Alaska daily empire., 1914-09-30
REFORMS
 ALREADY SECURED

The administration has dealt with a number of economic questions, among which four may be mentioned as of special importance.
 First, a reduction has been made in the duties on imports.
 For twenty years the Democratic party has been trying to secure a re- duction of the tariff, the revenue law of 1894, the only successful attempt, did not have a fair chance. It began with a compromise forced upon 1t by a few Democratic Senators in the interest of manufacturers.in their own states; then 1t was blamed for a pan ic which was really due to the finan- cial situation; and, to make matters still worse, the income tax for which it provided was held unconstitutional so that it failed to produce the neces' sary revenue.
 The law of 1913 has had much bet ter luck than the revenue law of 1894, and 1t has met much more favorable reception; in fact, 1t is now accepted and approved by large majority of the people
 Second, the income tax provision of the new law is also an improvement over the income tax law of 1894 and 1t has the advantages of being authorlz ed by a constitutional amendment, SC there can be no doubt of it's validity The two years of the law taken to- gether-the import duties and the in come taX-make a most creditable showing in the matter of taxation.
 The Republican party, because of the influences that controlled it, was powerless to bring relief to the coun try either by the reduction of import duties or by the enactment of an in come tax law.
 The third economic question tC which the President invited the atten tion of Congress involved the curren cy system. In this his success as a constructive statesman was even more pronounced than in the tariff income tax. law. The country scarcely realiZ es yet the magnitude of the change effected by the new currency law. FoI the first time since the war the gov ernment asserts it's soverign right tc issue paper money; for the first time since the war state banks are admit ted to the benefits of treasury depos | its on equal terms with the national banks, both state and national, have been put in q position to respond i'm mediately to emergencies existing ir community; for the first time since the war the federal government has assumed the responsibility of safe | guarding the commercial and indus trial world by affording protection from panics: and, what is not least | important for the first time since the war the power of Wall street over the political, as well as the financial world, has been broken.
 The Republican party was likewise powerless to bring relief to the coun try from the currency system which had operated in the interests of the big money magnates.
 The President is now engaged ir what will be a successful effort tc protect the people from private mon opolies. The bills which have beer prepared by a Democratic Congress acting in conjunction with the Presi dent, promise relief to the people from the heavy tribute which the trusts have collected. These bills also in clude relief to the wage.earners iron government by injunction.
 The above record is without paral Tel in our economic history and ought to win from the country a unanimous endorsement of President Wilson ant the Democratic Congress, Senate ant House of Representatives.
 W. J. Bryan, in the Commoner