Mount Vernon signal. (Mt. Vernon, Ky.) 18??-current, 1916-09-08
man the Industries it was protesting

man the Industries it was processing
to father and promote, carried their
labor as a mere commodity to market,
were subject 10 restraint by novel and
drastic rv, 'ess Ia the courts, were
without ;ssUrance Of compensation for
inSustril :. acciGent,. without federal
assistance in accom- nOdating labor dis
puteS ana without national aid or ad-
vice in finding the places and the in
needed. The country had no national
system of road cons tl'urtiOn and de-
velOpmcnt. Little intelligent attention
was paid to the army ana rot enough
to The navy. The other republics of
America diStruSted us. because they
found that we thought first of the
profits of American investor; and only
as IN afterthOught Of impartial justice
and helpful friendship. Its policy was
provincial in all things: its purposes
were out of harmony with the temper
and purposes of the people and the
timely development of the nations in
tereSts.
Party Has Redeemed Promises.
So things stood when the Democratic
party came into power How do they
stand now? Alike in the domestic field
and in the wide field of the commerce
of the world, American business and
life and industry have been set free
to move as they never moved before.
Nho ~
the principle of repcllng foreign trade.
but upon the principle of encouraging
it, upon something ike Il footing of
equality with Our own iii respect of
the terms If competition. md a tariff
board has Eeen created whase function
it will ie to kcep he lelatiOns of
American with forpi:.n IL ;iness and
Industry under con Int DServatiOn.
for the guidance allie Of OR business
men and of ouc congress. American
energies are now directed toward the
markets of the world.
The laws against trusts have been
clarified by definition, with a view to
making it plain that they were not
directed against big business, but only
against unfair business and the pre-
tense of competition where there was
none, and trade commission has been
created with powers of guidance and
accommodation which have relieved
business men Of unfOunded fears and
set them upon the road of hopeful and
confident enterprise.
By the federal reserve act the SUD-
ply of currency at the disposal of &C.
tive business has been rendered elias
tic, taking its volume not from a fix
ed body of investment securities, but
from the liquid assets of daily trade.
and these assets are assessed and &C
cepted not by distant groups of bank
ers in control OF unavailable reserves
but by bankers n the EIG.y enters
OF local exchange who are III touch
with local conditions everywhere.
Effective measures have been taken
for the recreation of an American mer
chant marine and the revival Of the
American carrying trade Indispensable
to our emancipation from the control
which foreigners have so long exer
cised over the opportunities, the routes
and the methods of our commerce with
other countries.
The interstate commerce commission
has been reOrganized to enable it to
perform its great and important func
tons more promptly and more efficient
~. We have created, extended and i'm
proved the service of the parcels post
So much we have done for business.
What other party has understood the
task so well or executed it so intelli-
gently and energetically? What other
party has attempted it at all? The Re
publican leaders, apparently. know of
no means of assisting business but
protection" How to stimulate it and
put it upon a new footing of energy
and enterprise they have not suggested
Earnars Have Raan Ronafi&aJ