The broad ax., 1916-09-16
HAS KEPT FAITH,
SAYS PRESIDENT
Record Shows Promises Full
filled, Declares Mr.. Wilson.
HIS SPEECH OF ACCEPTANCE

Laws Against Trusts SimpIified, Tar
iH Revised, Banking System Reform
.d. Remedial Measures Benefit Work.
inunen and Farmers and Merchant
Marine Revived.
In his address at Shadow Lawn,
Long Branch. n. j., accepting the Dem
ocratic nomination for president, Wood
row Wilson said:
Senator James, Gentlemen Of the
Notification Committee, Fellow Citizens
Il cannot accept the leadership and
responsibility which the national Dem
ocratic convention has again, in such
generous fashion, asked me to accept
without first expressing my profound
gratitude to the party for the trust it
reposes in me after four years Of fiery
trial in the midst of affairs Of IN
precedented difficulty and the keen
sense of added responsibility with
which this honor fills q had almost
said burdenSl me as l think of the
great issues of national life and policy
involved in the present and immediate
future conduct of our government. /
shall seek, as l have always sought, to
Justify the extraordinary confidence
thus repoSed in me by striving to
purge my heart and purpose of every
personal and of every misleading party
motive and devoting every energy 1
have to the service of the nation as
whole, praying that may continue to
have the counsel and support of all
forward looking men at every. turn of
the difficult business.
"For / do not doubt that the people
Of the United States will wish the
Democratic party to continue in con-
troll of the government. They are not
In the habit of rejecting those who
have actually served them for those
who are making doubtful and conjec-
tural promises of service. Least of
all are they likely to substitute those
who promised to render them partic-
ular services and proved false to that
rendered those very services.
Explicit Promises Fulfilled.
"Boasting is always an empty bust
ness, which pleaSes nobody but the
boaster, and have no disposition to
boast of what the Democratic party
has accomplished. 1t has merely done
its duty. 1t has merely fulfilled its ex-
plicit promises. But there can be no
violation of good taste in calling atten-
ton to the manner in which those
promises have been carried out or in
adverting to the interesting fact that
many of the things accomplished were
what the opposition party had again
and again promised to do, but had left
undOne. Indeed, that is manifestly part
Of the business of this year Of reckon
ing and assessment There is no means
Of judging the future except by assess
ing the past Constructive action must
be weighed against destructive COM
ment and reaction"
Mr.. Wilson asserted that the Repub-
ncan party was put out of power be-
cause of practical and moral failure,
because it had served special interests
and not the country at large. Banking
reform, the interests Of the farmer and
the army and navy had been neglected.
Set Free to Move.
SO things stood when the Demo
cratic party came into power How
do they stand now? Alike in the do
nestle 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.
The tariff has been revised not on
the principle of repelling foreign trade,
but upon the principle of encouraging
1t upon something like a footing Of
equality with our own in respect of
the terms of competition, and a tariff
board has been created whose function
1t will be to keep the relations of
American with foreign business and
industry under constant observation
Tor the guidance alike of our business
men and Of our 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 di-
rectcd 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.
Fly the federal reserve act the sup
ply Of currency at the disposal of &C
tive business has been rendered elastic.
taking IFS volume not from a fixed
body of investment securities. but
from the liquid assets of daily trade.
and these assets are assessed and &C
ceTcd not by distant groups of bank
erS in control of unavailable reserves.
out by bankers at the many centers OF
local exchange who are in touch with
local conditions everywhere.
40