South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-04-29

10 years. that something serious hap
pened" and ne detailed the bad bust
ness conditions OF those years. Speak
ing OF the currency bill ne said for
1ng years the money system OF our
land had had great and known weak
ness. Let us not minimize the at
tempts which were made in good faith
! by men Of all parties 20 set things
right. Give the credit foT all thought
and knowledge which they contribuut-
. ed 10 the problem. This one thing re-
mains true" Nothing was done about
10 until the democratic administration
came into power. Then and then only
IL wa4 taken up and against the oppO-
sition Of some who now admit that the
thing was settled. and settled well. To-
day YOU and 7 know and we never
knew before until the federal reserve
law was passed. that not only has
= there been released into the channels
OF trade vast sums unnecessarily held
back as reserve but that through the
establishment OF the federal reserve
system the power OF panic has been
destroyed. The basis Of the fear that
produces panic has been taken away.
Men know that they can get cash II
. they have credit. and the foundation
Of credit has been made sure and the
way TO credit has been made simple
Look and see how many are there
OF our partisan opponents that ven
ture 10 rise I'm public and denounce the
federal reserve law II is admitted on
all hands If not in words at least in
/ silence. by our adversaries that this
thing has been done well. on il with
confidence rest the operations of some
Of the very men who cry loUdest in
criticism OF our policies.
Face subject Boldly.
AYE. but business legislation?
Well let US face the question OF bust
ness legislation boldly. for concerning
it there is naught we have TO fear.
We have made palmer the way of the
honest business man. our opponents
themselves being witnesses, the Clay
ton and the federal trade commission
laws are good They put no obstacle
in the path of any honorable man.
They make his road more plain. They
give him a forum il which ne may be
heard. They give him a point on
which with more confidence he may
lean. What is there in this legisla-
ton that our opponents would like To
have taken away? Ii is either in its
suirit OF its substance that they wish
il changed. To which does their
criticism extend? Is it the spirit OF
the law wrong? II SO, what spirit
should be substituted? Shall it be
spirit which says that unfair competi-
ton shall continue or that the re-
Straints against eXceSSeS (Which II Is
well known have PREVAILED shall be
removed? Taken at large is II their
wish that the interlocking director
ates shall be restored as they We're?
Do they desire that there shall not be
forum like the federal trade COM
mission which shall hear and con-
slider without litigation the pleas of
business mcn2 The answer to the
criticisms that are made is the direct
question. What would you do? Or,
what would YOU leave undOne"
Mr.. Redfeld spoke Of Investigations
of business conditions which had been
undertaken by the administration say
ing they had been undertaken in a
spirit Of equity, calm and truthful
ness.
Il do not believe that American
manufacturers when their confidence
is respected are afraid Of the truth"