The Neshoba Democrat., 1920-07-01
-CONGRESSNaH WEBB vENABLE
SPEAKS AT PHILADELPHIA.
GIVES ELOQUENT ACCOUNT OF THE
/ PARTY'S ACCOMPLISHMENTS

| III OCCufcf Il Dulsudy b1Sbu 0p0 ~
the Court House at Philadelphia
FridHy at 1:3O Z. M. Congress.
man Vena BILE delivered lnteres'
Ing addresses and re, iewed The
lss ues Of the day tina, we must
Inject
| Judge Venable opened by CIV
ling a briei account Uf his stew
/ afdship
/ He disc4ssei thu rsilfnad. bill,
the Fadesll k'servr, the farm
oGn Act aud hs . atgorm OF lne
] 81 his q poaentF,
1 Speaking on the Fedtral re I.
serve act and the great iarm Ioan
lneasur~, he said that in former
years We hoda money panic eve 4
| few years before this reserve act
Twas put into effect, for the reason
That laws were then based on q
gold reserve, first, and second be-
cause about a d, Zen men control
led financial affair OF tnis coun-
larry. lie elated how these mil
Iiionaires manipulated tue money
market and speculated and be-
came multi-millionalres, when
lhe COVER, ment then passed a
Ibill that became panic proof, and
1--WE had not had panic since
Even when the great war came
on, we did not feel tremor,
| v hereas under the old 81 stem,
ltliere wpula have been The great
Fest financial panic IN the history
| If the country, which would have
Preached from the gulf 10 the lakes
land the Atlantic to the Pacific.
The agricultural int erests had
been clamoiing for half century
for system TO get money. The
blanks could not under the law
| make long. time loans, and they
| had been forced to borrow money
from individuals at IA high rate
of interest. He and everyone
else realized that the agricultural
Interests comprised the funda.
| mental basis Of our very, exist,
ence. Every calling and is sue
cess rested OH the success OF The
Farmers. He favored a rural
credits bill and since it had pas
sed 1t had enabled the farmers
of this district to procure loans
,monnting 10 Sl,149, 900 at the
How rate of five and one half per
lcent interest. This measure bad
not only heIped The farmers, but
it had brought down The rate Of
Interest lu meU in other ca llDgs,
md everyone had been benefit
led by it.
This was one ofthe many bene.
! fetal acts of the presentadmlnls
| ration, and it made him sick,
aid Judge Venable, to see men
critieise the adm inistraIion that
i had made i possible for them to
Hive. The present admiHlotra
ltion had passed more legislation
for the direct benefit of the peo-
pie of Mississippi than all other
administrations combined
/ 1t had managed TO win the war
and then emerged therefrom as
the greatest and wealthiest coun-
TRY III the wofid. There had of
course been grafterss who had
protited during this, there were
thieves and robbers who robbed
while the fire was burning, as is
| always the case, but this could
not be helped. Yet, there, were
lsome democrats who were "kick
ling their own STATS" and knock
ling their own party, furnishing
che republicans with compaign
thunder, which he knew them to
be using to promote their own
interests, by circulating it as
campaign documents and saying
shere is what the Democrats are
saying about their own party"
| Congressman Venable Discus
sed the $50 called" roiiroad bill
in q comprehensive and instruc
lave manner. He said he had
been accused If being an enemy
of labor in this act, and cited the
fact that Samuel Gompers had
just fought a three days loslng
light al aiust the proposed Plumb
plan OIL government ownership,
and that organized labor was by
20 means united on this lssue.
Dec,aring that legislation VIII CHI
violates the prluciple OF equal
Justice 10 all and special privilege
10 none would finally work out to
he'tetriment Of the class, for
whom advantage was originally
Iintended 10 be given, he related
he history Of the railroads at the
time America entered the war
against Germany, why govern.