The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1916-07-07

Of the people
An attempt was being made to Gre
ate a paine for the purpose Of COM
polling the abandonment of this pro-
posed legislation. When the evidence
was sufficient as ii came in from diff
ferent sections of the country, the
Secretary of the Treasury went to
the White House-and want to call
your attention to the fact that he
wen to the White House and not to
the kings of Wall street as Republi-
can Secretaries had been in the habit
of doing-and after a brief conference
with the Executive he gave a state
ment to the public that If any COM
munity anywhere needs money to tide
it over a temporary embarrassment it
need not go to Wall street. Let it
come to Washington, for the Govern
ment stands for all the people and is
ready to protect them.
What was the result? The result
was that that proposed panic was
nipped in the bud. 1t folded its tent
like the Arab and silently stole away,
and since that time no new brand of
panics has been born.
Hold of Wall Street Broken
This great piece of legislation, the
greatest piece of constructive states
manship in a generation, has not only
broken the hold of Wall street upon
the business of the nation, but it has
broken the grip of Wall street upon
the politics of the United States. For
20 years there has not been an cleo
ton but what hundred men in Wall
Street could, by the coercion they had
in their power, change the result of
the election. And one who, like my
self, has felt their power, must be
pardoned if he rejoices that we have
an administration that has broken
that power and set a nation free.
That currency law restored to the
Government the sovereign rights to
issue the paper money Of the country.
The banking institutions had flched
that power from the Government, and
having learned the value of its use
they claimed it as a vested privilege.
But the Democratic party, acting
through a Democratic President,
Democratic Senate and Democratic
House, has restored to the Govern
ment the power that had been taken
from it, 1t is one of the victories of
this administration.
Private Monopoly Pruned
When the work was completed along
this line the President invited them to
a third task, the task of putting the
ak to the root of the tree of private
monopoly. The Republican party and
the Progressive party had talked of
regulating monopolies, but instead of
regulating them they allowed the
men who furnished their campaign
funds to regulate the regulators of
and the trusts grew, and
grew, and grew.
But, when President Wilson sent
his message to Congress he planted
upon the Democratic doctrine
proclaimed in four campaigns, that a
private monopoly is indefensible and
lntolerable. Hhere were three great
measures carrying out the
promise of a Democratic platform,
and these three great measures con-
stitute record of achievement which
the Republican party dare not attack.
In their indictment of our party
they did not dare to mention three of
the four measures that characterize
The economic policy of this admins
traion. Did you see in their platform
a denunciation of the currency law?
No. They have not the courage to
either admit it's value or to condemn
he law. They cowardly evade the is
sue, but what they can do at Chicago
S one thing; what they can do before
he country is an entirely different
hing.
The electorate before which the
Republican party must now go is not
controlled as the convention at Chi
ago was by the expert representa-
ives of the favor-seeking corpora
ions. They must meet the issue, and
f they cannot find fault with our
law, they must admit that
he Democratic party that they used
o ridicule has both the intelligence
md the courage to do what they
Ieither devised nor carried out.