Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-11-14
THE PRESIDENTS PLEDGE
TO BUSINESS


THE Industrial powers OF Philadelphia
L are too great to be overthrown by
political reverses. Nothing short Of war
or revolution can submerge the city's
pre-eminent usefulness to America and
the world. Suppose a fallacious economic
policy embraced by the country for
number of years were conspicuously TO
impair the energies Of the workshops Of
the cities along the Delaware. of the
cities in Pennsylvania whose manufac-
tories have the double advantage of
being near the coal mines aud the sea-
board. The effect would be of national
import. 1t would be like n panic IN
Wall street, like a great failure in the
western crops. This city, as the key
stone of our manufacturing energies, can
feel without any assertiveness, but merely
with n sense Of responsibility, that It
represents one of the three great
barometers OF national prosperity: these
three being the money market, the crops
and industry.
Mr.. Wilson declares he has done much
to stabilize the condition of the first two.
He cannot find praise enough for the
Federal Reserve act, which he devoutly
believes is panic.proof, proof against a
currency panic such as that of 1907, at
any rate.
He is equally sanEuine about his work
for agriculture, pointing to the rural
credits act, the cotton futures act, grain
grades. warehouse and good roads meas
ures. and the organizing Of scientific
farming and marketing.
But what of industry? Mr.. Wilson
has not lodged the issue, but some of
his campaign arguments are not reassur-
| ing. He answered the "war prosperity"
| argument by declaring that only four
| per cent of all our commerce is foreign,
! while ninety-six per cent is domestic; that
only one per cent of our exports is of
munitions. He pressed home, with all
the skill Of a great debater, the point
that millions of dead men will not
compete with our workers. But he was
silent about the tremendous efficiency of
| Englands industries even in war, and
| he has left out Of account the European
boycott plan, "the war after the war"
which would compel Germany to dump
| IN NOTln anu OOull fiIItlltd WHAT lle
Allies boycott, and the Allies to do the
same with what Germany boycotts. AS
for the argument from dead men don't
compete" why is Europe planning q trade
war II there is to be no trade to fight
| about?
But apart from these mere debater's
points, expected of both sides in the
heat of a campaign, there is in the record
of the Presidents utterances what
amounts to a pledge 70 adjust our com
mercial status to meet conditions as they
arise. He said, two weeks ago, in his
Buffalo speech:
Our economic questions can never
again he what they have been in the
| past. Any man who tries TO apply the
economic policies of ten years ago, or
| Ave years ago, or two years ago, to
| the present economic conditions and
relations of the United States will be
running the risk of a disastrous mis-
| take. The United States has
swung out into tbe great stream of the
| world The thing that strikes me most
about the new economic situation Is
that II Is not yet fully disclosed in its
details, and that no man can predict
| with confidence what those details are
going to be. II is always a question of
the facts and not a question of the
| theoretical opinions which may be held.
| have held very many theoretical
opinions in my day, and / have found
again and again that small army of
facts could put them TO rout
| When we know the facts as they are
from month 10 month disclosed we must
in all soberness and common counsel
adjust our policy and affairs to them.
do not look forward with
any excessive degree of confidence to
| hair ahl m nd ha oh
(for the Tariff Commission), because I
asked Congress TO allow me to appoint
| a nonpartisan commission and 1t COM
manded me to appoint a bipartisan
commission. In appointing a bipartisan
commission you have got to ask a man
his party affiliations and l
tell you frankly regard that
as an impertinent question, II you are
an honest man you can see the facts
the same way whether you are a
Democrat or a Republican.
This is. in effect, a promise Of tariff
revision.
On this basis the business men OF
Philadelphia can feel, that they do not
have to wait four years 10 bring forward
those very facts which Mr.. Wilson de
slres to learn. If his tariff commission
is TO be as bipartsanly unfair as he fears
by its nature II may be, there will bt
plenty OF time to plan future politica
action. The last persons that business
men should listen to at this time are
peanut politicians, who for selfish parti
san reasons would hate TO see any tariff
readjustment undertaken by the Demo
cratic party. They would be only too glat
TO have closed mills and souphouses tC
| noint TO In seeking reelection and TN,
plums that party victory brings them
Business can afford to be above such
methods. II has the facts, and 1t car
take them direct TO Washington ovel
the heads OF politicians. Republicans anc
Democratic.
WHY Jim" MANN?