The Washington herald., 1916-06-01
SAYS NATION PROSPERS
Declares Country Has Over
flowing Dinner Pail, Album
dant Money and Credit.
DEMAND FOR LABOR LARGE"
Says Prosperity Is Due. Not to War
Orders, but to Economic Strength
of Country-Fears No Depression.
CBy the international News serviee.)

CBy the International News seryiee)
Raleigh. n C., May 3l.-Secretary
Of the Treasury McAdoo. in a speech
before the chamber of commerce here
tonight, sounded the keynote of the
Democratic campaign.
Mr.. McAdoo declared the country has
an overfowing dinner paik that money
and credit are abundant, and that the
demand for labor exceeds the supply.
He denied present prosperity in
America is due to war orders. and
gave credit for it to Democratic legis-
lation.
He predicted the creation of a
merchant marine by the Wilson ad-
ministration and the expansion Of
American enterprise and business in
South America.
Have Full Dinner Pail.
Mr.. NcAdoo said: Prosperity has per
neated every corner Of the country. We
not alone have the full dinner pail, but
the oyerfowtnx dinner pail Money and
credit are abundant; the ghost Of panic
has bean securely Laid
This Is 6us not to transftory war or
ter1, or ephemer1l trade, but to the
AMAZING econcrnIo strength Of the United
States
Tho FEDERAL Reserve act, which Is
now generally conceded to be the most
constructive measure placed upon our
greatest contributing factor In this happy
condition
Tho prosperity OF no country Is strtk-
nxty reelected n the surplus reserves OF
the national banks
These great resources carry with them
both opportunity and responsibllity-op-
portunIty to serve the nations needs in
the highest degree and to extend assist
ance to our splendid nsighbors Of South
and Central America who are suffering
severely for the resources needed for
their own development
Il must express my lack Of sympathy
with the views SO strenuously put for
ward that the United States must face
a period Of serious depression upon the
conclusion Of peace in Europe. An an
aIysis Of the conditions IN the United
States and Of the possible economic ef-
fects Of the war in Europe does not give
the slightest Justification for any fear for
our prosperity.
The great markets Of South and Cen
trail America which have been clamorous-
ly seeking US for the past two years. will
more than Offset any possible loss Of war
trade.
Great Field for Business.
Here Is a great field for American en-.
terprtse and business; a field which we
would already have securely occupied If
1t had not been for the disastrous action
of the Republican members Of the Senate
aided by a few Democrats. in fibustering
to death the bill introduced by the ad-
ministration IN September, 1914. for the
purchase Of 100000 OF merchant ships
to be used by the government Of the Unit
ed States for the protection OF our COM
merce with all the nations OF the world.
The failure to buy these ships was fatal
and trretrevable mistake.
The necessity for the creation of an
American merchant marine for the regu-
lation Of ocean freight rates and for the
as imperative now as It was then. A
Democratic House has passed such a bill,
carrying with It an appropriation Of s5o.-
10000 for the construction and purchase
by the government OF merchant marine
TO be utilized both as an essential naval
auxiliary in time OF war and for the use
Of our commerce IN time OF peace"