The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1916-06-02

DOudS which VIII be one OF Vne ultl-
mate stable securities in our financial
system. This act will place the farm.
er on an equality with the merchant
and the captain of industry in cOnl-
manding the credit necessary to his
enterprises. and is the FIRST compre-
hensive recognition by the nation OF
the needs and rights of those who
till the soil as the foundation of our
entire economic structure.
The tariff legislation Of the United
States prior to 1912 had gone from
bad to worse and in 1908 the Repub-
lican party was forced to promise
revision of the tariff, promise which
was interpreted by the standard
bearer of that party to mean revt-
sion down When the Payne-Aldrich
tariff bill was finally passed, it was
a palpable fraud upon the promise OF
the party which passed 1t. It was a
violation of the platform upon which
that party had to secure its return to
power, was a disappointment OF the
Just hope and expectation of the peo-
pie Of the United States. and an add
ed incentive to the growth of oppres-
sive monopolies among us.
Doubtless there were many, after
the election in 1912. who feared a rev.
olutionary tariff adjustment. But the
Underwood tariff was the work o.
statesmen; 1t added to the free list,
reduced many OF the schedules, re-
moved burdens from many Of the ne
cessaries of life, stimulated our manu-
facturers to the installation OF more
economical methods, reduced In some
part at least the high cost OF living,
and made promising start toward
more sympathetic commercial rela-
tions between us and the other ma
tions OF the earth And 1t intro
duced as its novel gift to our institu-
tioDs the income tax. This tax lays
its burden upon the wealth Of the
country rather than upon the neces-
stiles Of the people.
But perhaps the most conspicuous
result Of the passage of this bill has
been the utter and eternal divorce be-
tween high protective duties and the
full dinner pail. Where emptiness
was expected, there is a horn OF
plenty. The smokestack of every mill
In the country is black with prosper
ity The wages OF labor have ad-
vanced in every craft and In every
trade. America has never known
greater prosperity.
The breaking out of the European
war entailed an enormous reduction
in our revenues from imports. Had
tne income tax not been included in
the Underwood tariff bill, the deficit
would have been very great As 1t
was, however, the ordinary receipts
Of the government In 1914-the first
year of the Underwood law
amounted to $734,343,7OO, which was
$10,232,471 more than the aggregate
revenue in 1913 under the Payne law,
and S43 1865, ,235 more than In 1912 IN
der the Payne law.
National Defense.
Congress has passed an army re-
organization bill providing first line
of defense. The bill will give us a
national force large enough to main
tain order In those outlying places
ties, and to protect our own borders
against any aggression. 1t provides
an experiment in sederalizing the mil
| itia OF the states. making 1t safer
reliance for the national defense and
recognizing the sacrifice and patriot
ism OF those who prepare to serve
their country by enlistment in these
state forces. Some increases In the
navy are also authorized. And by a
measure now under consideration. 8
council OF executive information II
proposed which will bring the govern
ment into such intimate relations o
knowledge and sympathy with labol
and business and industry as to mak'
possible, should 1t ever be necessary
an instant mobilization Of the grea
resources Of this nation for the com
mon defense.
I am persuaded that the addition
to the army and navy were necessary
and that common prudence require
and justlfies the expenditures and re
organizations here proposed. But
delight to think that the Democratic
administration has recognized tina
true preparedness involves far hishe
considerations than a mere multipl
cation OF soldiers or ships, and tha
by its Internal policies the Demo
cratic party is seeking to make of thi
a nation so just to its citizens, ms
tion so full of equal opportunity, s
free from oppression Of the weak h
the strong, that our preparation
equally available for the happines
and well-being of our people in time
of peace and their safety in times {
war.
Mexioo's Difficulty.
Upon the foreign policy of the 81
ministration, must be brief Their
are two elements OF 1t which need
word of Observation-Disclosures and III
European war.
The republic of Mexico was Il
years ruled by dictator who ope