Hopkinsville Kentuckian., 1916-09-05

man the industries Il was professine
20 fetner and promote, carried their
labor as mere commodity to market.
were subject TO restraint by novel and
drastic process In the courts, were
without assurance of compensation for
industrial accidents, without federal
assistance In accommodating labor dis
putes and without national aid or ad-
vice In finding the places and the in
dustries in-which their labor was most
needed. The country had no national
system OF road construction and de-
velopment. Little intelligent attention
was paid to the army and not enough
to the navy The other republics of
America distrusted us, because they
found that we thought first Of the
profits OF American investors and only
as.an 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 Geld
and In the wide ield OF the commerce
Of the world. American business and
life and industry have been set free
to move rs they never moved before.
The tarfff has been revised, not on
the principle Of repeilIng foreign trade,
but upon the principle Of gfng
II, upon something like q footing OF
equality with our own in respect Of
the terms Of competition, and a tariff
board has been created whose function
It win be to keep the relations OF
American 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 toward the
markets of the world.
The laws against trusts have been
clarified by definition. with a view to
making 1t 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 sup
ply Of currency at the disposal of ac-
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 at the many centers
Of local exchange who are In touch
with local conditions everywhere.
Effective measures have been taken
for the re-creation of an American mer-
chant marine and the revival. Of the
American carrying trade indispefsabl bile
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 II to
perform its great and important func-
tlons more promptly and more efficient
ly. 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 1t so intelll-
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
aud enterprise they have not suggested.
Farmers Have Been Benefited.
For the farmers of the country we
have virtually created commercial
credit by means of the federal reserve
act and the rural credits act They
ness men In the money market. We
have successfully regulated speculation
In futures" and established standards
In the marketing of grains. BY an In
telllgent warehouse act we have assist
ed to make the standard crops availa
bic as never before both for systematic
marketing and as a security for loans
from the banks. We have greatly
added to the work of neighborhood
demonstration on the farm itself Of
improved methods of cultivation and.
through the intelligent extension of the
functions of the department OF agricul
ture. have made 1t possible for the
farmer to learn systematically where
his best markets are and how to get ai
them.
The workingmen OF America have
been given q veritable emancipation
By the legal recognition OF mans Ia.
Dor as part OF bis life and not mere
marketable commodity, by exempting
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