South Bend news-times. (South Bend, Ind.) 1913-1938, 1920-08-20

I
The tasl, OF the next four years
Is readJustment. economic and gov
ernmental. Both systems were car
/ ried away, more or less. from the
peace basis by the necessities OF
war. II must be fair readjust-
ment and il can only be so made
! by honest methods. Millions OF dol
lars are being contributed 10 the
republican campaign fund for a
selfish greedy purpose Of procuring
/ a preferential readjustment
The republican leaders well know
just how close l am 10 the truth
when 1 say that the minimum fund
which Is demanded Is SO, 900 900.
| This will not be scattered generally
| over the country but IL will be used
IN certain close and pivotal states.
and It Will be put to the uses which
I can not be defined in ethics. Meet
/ ings are being held now In the
I cities; quotas are being allotted and
/ the money is coming in.
Explains Reserve Act.
While the sums Of money that
are being collected are enormous,
they are a mere bagattelle in COM
/ parison with what the contributors
/ will get back. Let US cOncretely IL
lustrate this and show Just how II
will work out. Certain banking in
/ terests fought the Federal Reserve
act when 1t was passed. They
! recognized that their power over the
/ public resource was threatened by
/ this progressive legislation.
The song which reactionaries
/ sing whenever justice invades the
/ domain which they have controlled.
was heard all oyer the country when
/ !. = Il
/ cal reform was being given statu-
| tory expression. Panics were pre-
/ dicted; the evils in imitation were
I elaborated upon, and the attempt
was made, in the first instance, 10
/ prevent the passage OF the law, and
when that was unsuccessful these
/ selfish interests attempted 10 give il
| the form they desired, but they We're
! unsuccessful. What blessings have
come 10 the country under the oper-
| atoms Of this act ned not be spoken
OF.
There is a we'll planned move
ment under way now 10 change the
law 10 make only bankers eligible
| 10 membership on Federal Reserve
| boards and TO reform the policies as
10 credits and interest rates.
Make G.. o. p. Investment.
Therefore, many bankers IL writ
! ing their checks 10 the republican
national committee, are simply
making an investment, and for every
dollar they give they expect many
more I'm return. We can always
| trust to Holy Writ for an explana-
ton of the emotion of man. 1t fits
| In here perfectly. because we are re-
minded by il that where a mans
treasure is, there is his heart also.
''In this part of the country you
were enabled 10 know something
about farm production and city con-
| sumption. You have seen grain and
livestock sold under conditions Gre
ated by powerful interests. and you
have observed the ingenious method
of holding foodstuffs in storage In
order that the consumer might be
made TO pay the price exacted. The
republicans have been in control OF
the congress for two years. They
should tell the country why le5isla-
ton proposed for the regulation OF
cold storage plants was not pressed.
How simple it is under existing con-
ditions 10 make money by buying az
=, a low price and selling at high
price. Foodstuffs are placed in cold
storage. They are fed out to the
consumer Just fast enough 70 keep
the demand ahead Of that part OF
: the supply which is released.
Upsets Law.
This always makes high cost. II
| upsets entirely the law OF supply and
/ demand but II does more than that
The storage concerns and the pack
} ing interests, and they are substan
TALLY one in the main. see 10 IL tina
- their stocks do not run so low a
q TO compel them 10 so TO the farm
H. f-n n
e shortage.
- The low Of supply and deman'
% is not in force either at the buyinI
= or selling point This is interstat
n commerce. The government has tn
g constitutional right 10 regulate II
p Food conservation must be encour
aged. but 1t must be so regulate
| that under il prOfiteering is impos
{ sible Why was not a law passe
e regulating it? We did il In Ohio
Y where we found that poultry wa
+; stored for almost two years, an
n beef and other PRODUCTS were KEEP
K longer than they should have beer
q either from the economic or IN
half dozen states cannot correct thi
i situation. because after the food
i stuffs remained in storage in Obi
up 10 the prescribed time il wa
u moved into another state
e Trusts Control Mills.
Take the great wooden industry
n which il pretty well under trust con
o troll Mills are being closed nov
in the face OF a sustained demand
Why is il done? First. 10 drive tn
= price Of wool down. Second. 10 rC
e duce the wage scale. Third. 10 ir
j. crease the cost by decreased pro
n duction. These interests know pei
r fectly well that they have been pre-
II teCted In the past by reactionar
D. administrations They know ths
q progressive government gathers 4
, inspirations from the condition
lie growing out OF public desire an
n necessity There must be an unde'
81 standing between these interes
ie and the senatorial oligarchy whic
l. is now attempting 20 elect one
Pc its members president OF the Unite
n States They are not giving the
millions without some assuranc
n They are not contributing 10 II
democratic campaign fund. ar
l. they would not he given the chan'
4 II they so desired
p THE editors Of the country, larl
Il and small. are very much interests
in the supply OF white print pape
IL is a pressing problem A demo-
racy In government requires A rea,
- ing public. There must be no II