Daily capital journal. (Salem, Oregon) 1903-1919, 1916-09-02

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whose functions it will be to keep the
relations of Americans with foreign
business and industry under constant
observation, for the guidance alike of
our business men and of our congress.
American energies are now directed to-
wards the markets of the world.
The laws against trusts have been
clarified by definition, with a view to
making it plain that hey were no
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 re-
lieved business men of unfounded fears
and set them upon the road of hopeful
and confident enterprise.
Currency Made Elastic.
BY the federal reserve act the sup
ply of currency at the disposal OF
active business has been rendered
elastic, taking its volume, not from O
fixed body of investment securities
but from the liquid assets of daily
trade; and these assets are assessed
and accepted, not by distant groups Of
bankers in control of unavailable re
serves, but by bankers at the many
centers of local exchange who are in
touch with local conditions every
where.
Effective measures have been taker
for the recreation of an American
merchant marine and the revival Of
the American carrying trade indis
: pensable to our emancipation from the
control which foreigners have so long
exercised over the opportunities, the
routes, and the methods of our com
merce with other countries.
Done Much for Business.
The interstate commerce commits
sion is about to be reorganized to EN-
able it to perform its great and import
ant functions more promptly and mor'
efficiently. We have created, extended
and improved the service of the par
cells post. e
So much we have done for business
What other party has understood tn,
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| ligently and energetically9 What othe
party has attempted it at all9 The re
publican leaders, apparently, know O.
no means of assisting business bu
protection How to stimulate it AM
put it upon new footing of energ.
and enterprise they have not suggested
, Given Farmers Standing.
For the farmers of the country w
have virtually created commercial
, credit, by means of the federal reserv
, act and the rural credits act The.
now have the standing Of other busi
! ness men in the money market. W
: have successfully regulated specula
! tion in futures and establishe,
standards in the marketing of grains
BY au intelligent warehouse act W
have assisted to make the standar,
crops available as never before, bot
! for systematic marketing and as
security for loans from the banks w
E have greatly added to the work o
neighborhood demonstration on tn
t farm itself of improved methods o
5 cultivation, and. through the intelli
= gent extension of the functions Of tn
2 department of agriculture, have mad
D it possible for the farmer to learn sys
$ tematically where his best markets ar
e and how to get at them.
: Much Done for LABOR.
The workingmen of America hav
! been given veritable emancipation
: by the legal recognition of man
4 labor as part of his life, and not
mere marketable commodity; by eN
empting labor organizations from pre-
n cesses of the courts which treate
:. their members like fractional parts @
/ mobs and not like accessible and r,
e sponsible individuals; by releasn
a our seamen from involuntary serv
I tude; by making adequate provisio
{ for compensation for industrial acc
n dents; by providing suitable ms
4 ehinery for mediation and coneiliatio
$ in industrial disputes; aud by putin
$ the federal department of labor at tn
r disposal of the workingman when i
e search of work.
Child Labor Forbidden.
We have effected the emancipatio
= of the children of the country by n
V leasing them from hurtful labor. W
= have instituted q system of nation;
I aid in the building of highroads sue
n as the country has been feeling aftC
for a century. We have sought
r equalize taxation by means of a
equitable income tax. We have take
the steps that ought to have bee
n taken at the outset to open up ii
n resources of Alaska. We have pr
+ vided for national defense upon
a scale never before seriously propose
n upon the responsibility of an entii
!. political party. We have driven Il
d tariff lobby from cover and oblige