The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1918-08-02

sented to the people of Mississippi to-
day which grow out of the work of the
administration of President Wilson
which leads US to say that it is stock
taking time.
Woodrow Wilson was elected Presi
dent of the United States in November
1912. With him was chosen majority
of Democrats in both houses of Con,
gress. Thus it was that the Democratic
! party for the first time in many years
was given free hand. Thus it was
that the party was put on trial and
given an opportunity to shape legisla'
tion in the interests of the people o:
all sections of the country. Mr.. Wilson
lost no time in addressing himself tC
the great task committed to him. He
took bold and aggressive stand for
legislation for the masses as against
the classes, built up by Republican
Legislation.
| The first thing that was undertaken
by the Wilson administration was "
change in the tariff law. Now people
have heard of the tariff so long and ii
is collected in such way, that it is
difficult TO get many to realize that It
is tax upon each and every person in
the land When tariff law was first
enacted, way back nearly 100 years
ago, it was to last only until our "in
j FAINT industries" got able to walk. In
ether words, until our manufacturing
enterprises got sufficiently On their
feet to compete with like enterprises
across the seas But like taking
opiates or any other bad habit, those
who were getting the benefits of the
tariff, liked it and those who were pay
ing it, did not know it, hence it became
fastened on the country. The South be-
ing almost wholly agriculture, had nc
enterprises to share in the benefits OF
the tariff, therefore our people were
contributors to the North and the New
England states; with this side of facts
there is little wonder that men grew
very rich in the North. These rich were
large contributors to Republican cam
paigns and of course were anxious ID
Fretain that party in power. The Wilson
administration reduced the tariff, cut
out the profits of the great moneyed
corporations of the Northern and Eas
tern states. The Wilson administration
framed tariff law that put, just as
nearly as possible, every man on eQua
footing with every other imam as re
CARDS buying and ar regards indus
tries This was a great accomplish
ment. There is no way to pay a tariff
tax except the money be taken from
the pockets of the people Woodrow
Wilson dealt the plutocratic wealth OF
the United States severe blow in the
tariff law
The passage of the Federal Reserve
banking law by the Wilson administra
tion is enough to immortalize Mr.. Viii
son as a statesman if he had done moth
ing else Until that law was placed Oh
the statute books of the country, New
York City was almost supreme in the
finances of the United States. New
York bankers could bring on panics
and squeeze the balance of the country
whenever they got ready. Woodrow
Wilson said no more of that and that
he was tired of seeing the balance OF
the country going with hats in hand &c
New York for money, hence the Fed
era1 Reserve banking law which gave
/ the Nation financial freedom. But for
1.-The foresight of Woodrow Wilson
when the European war started, the
country would have experienced the
worst panic in all its history. Who is
the greatest sufferer in panics? Why,
the little man, the man of small means
of course. The financial shark can af,
ford to lose few of his thousands if
the little man loses few hundreds
many, many tikles, his all, so that he
can. take advantage of the little mans
embarrassment and eobble up what he
has left.
After the Federal Reserve banking act
comes the Farm Loan bank law. The
farmers of the country have talked
about borrowing money from the gov
ernment, about a federal bank for the
farmers, for thirty years or more, but
it was left to Woodrow Wilson to force
the enactment of this law. OF course
the big banking institutions of the
great cities opposed this law, but they
only made Woodrow Wilson all the
more resolute because their opposition
reinforced the idea already in his brain
that these great city banks were ex-
plotting the farmers as well as other
classes of limited means
During the month of June $8,343, ,420
was lent to farmers of the United
States by the Federal land banks. The
Federal land bank of Spokane leads
in amount of loans closed, $1,262, 800.
During June 1876 applications were
received asking for $5.127.011, and 2.
SIC loans were approved. amounting tc
$6,793,527.