Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1916-06-20
The Full Dinner Pail.


in former campaigns the Republicans are now
strangely silent. They have nothing to say about
1.-The full dinner pail" Four years ago they pre-
dicted that Democratic administration would
drive the country to ruin. They credited them
selves with all the bountiful harvests that ever
best the land and. at the same time, CLOSED over
the numerous panics which had befallen when they
were in power. Boosting of the prosperity they
had produced. they warned the people that If
Democracy we're put in control the heavens would
cease to smile and the fields to bring forth, that
the loom and the forge would lie idle and millions
of men their jobs, that capital would be fright
ened out of investment and labor reduced to a
crust, that wolfsh times would prowl over the land
while the sun of prosperity went down.
This was the foremost issue which the Re-
publicans took their stand in 1912. To what extent
have their woeful prophecies been fulfilled? The
United States was never so prosperous 1t is to-
day, in the fourth year of the Wilson administra-
ton Never we're its financial resources so abun-
dant responsive to the needs OF legitimate en-
terprise. On May 1, 1916, more than eleven bill
lion dollars was deposit in the national banks
alone besides the vast sums in other banking
houses Within less than eight weeks from March
/ to MAY l. national bank deposits increased three
hundred and forty-one million dollars; and in the
same period the resources of those banks increased
two hundred and ffty-six million dollars, making
their total resources more than fourteen billion.
Such records unprecedented in all the his
tory of the national banking system. They have
been achieved under Democratic administration,
and partly as result of Democratic laws In
March, 1916. national bank resources were two bill
lion, two hundred and seventy-one million dollars
greater than in the same month of the preceding
year. That increase, according to the comptroller
of the currency exceeds the total resources of the
Reichbank of Germany, while the present resources
of our national bank more than three billion
dollars greater than the combined resources of the
Bank of England, the Bank of France, the Bank of
Russia the Reichbank of Germany, the Bank of
The Netherlands the Swiss National Bank and the
Bank of Japan Little wonder the G. o. F. cam
paigners not talking this about Republican
prosperity and Democratic ruin.
No political party should arrog9te to itself the
credit for good times which are due to plenteous
crops and to the enterprise of the American peo-
pie But the Democratic party must be credited
with the constructive legislation which set enter
prise free from an archaic and perilous system of
finance and protected business during the stormy
months that followed the outbreak of the world
war. No one deny that the Banking and Cur
rency law enacted by Democratic Congress, at the
instance of Democratic President saved America
from the darkest danger that ever threatened it's
financial affairs. Had the Wilson administration
accomplished nothing else, that one law would en-
title il to the country's continued confidence and
support; for, by that law the United States has
been freed from all fear of panics and has been
given unexampled opportunities for material prog
ress and enrichment. The only only part the Re-
publican machine played in that epochal legisa-
ton was in opposing it.
Instead of being borrower as it formerly was,
the United States is the worlds greatest cred
itor. Since the beginning of the Americans
have bought back nearly two billion dollars worth
of their own securities from Europe and have
granted foreign loans amounting to more than
and a half billion dollars. While this record is
due largely to abnormal conditions abroad, it
would not have been possible had the country been
dependent on the crude banking system which pre-
vailed under Republican rule 1t was the foresight
and efficiency of the Wilson administration which
enabled America to grasp great opportunities when
they arose
Industry and commerce no less than finance re-
feet the wonderful prosperity of our land Labor
is fully and proftably employed the nation over
Mills are running at maximum capacity. Railroads
are taxed to move the vast tonnage of freight
wharves are piled with merchandise awaiting ship
ment to all ends of the earth. Prosperity the like
of which was never known under a Republican
regime prosperity full-sinewed and permanent, as
broad as it is deep and sound it is rich fur
rows the nation with gold. On this issue, which
certainly is as opposite today as it was four years
ago. Democracy is entitled beyond question to the
public's unbounded trust.