The Snyder signal. (Snyder, Tex.) 1887-????, 1920-07-16
CHAIRMAN CUMMINGS,
KEYNOTE SPEECH

>. cummings OF Sonnecticut IN open-
ing the Democratic convention at
San Francisco was a masterpiece OF
logic, oratory, rhetoric and sound ar
gument. II is a literary and politi-
cal gem and ranks along with the
great speeches OF American history.
Here are some extracts:
I'VE stand squarely for the same
ideals OF peace as those for which
the war was fought. We support
without flinching the only plan for
peace and Justice. We will not
submit 10 the Reputation OF the
peace treaty or TO any process by
which IL is whitfield down to the
vanishing point. We decline to
compromise our principles or pawn
our immortal souls for selfish pur-
poses. We do not turn our backs
upon the history OF the last three
years. We seek no avenue of re-
treat. We insist that the forward
course is the only right course.
We seek TO re-establish the fruits
OF victory, ito reinstate the good
faith OF our country, and to restore
il to its rightful place among the
nations OF the earth. Our cause
constitutes summons to duty. The
heart OF America stirs again. The
ancient faith revives. The immortal
part OF man speaks FOR us. The ser
vices OF the past. the sacrifices OF the
war, the hopes OF the future. consti-
tute a spiritual force gathering
about our banners. We shall re-
lease again the checked forces OF
civilization and America shall take
up once more the leadership OF the
world.
Thus before we entered the war,
we made the pledge during the war
we restated the pledge; and when
the armistice was signed, all OF the
nations. ourselves included, renewed
the pledge; and II was upon the
faith of these promises that Ger
many laid down her arms. Pracu-
cally all the civilized nations OF the
earth have now united in a covenant
which constitutes the redemption OF
that pledge. We alone have thus
far failed to keep our word. Others
may break faith; the senate OF the
United States may break faith; the
Republican party may break faith;
but neither President Wilson nor the
Democratic party will break faith.
III the Democratic party had ac-
complished nothing more than the
passage OF the federal reserve act, 1t
would be entitled to the enduring
gratitude OF the nation. This act
supplied the country with an elastic
currency controlled by the American
people. Panics - the recurring
phenomena OF disaster which the
Republican party could neither con-
troll nor explain--are now but a
memory. Under the Republican sys-
TEN, there was an average OF one
bank failure every twenty-one days
for a period OF nearly forty years.
After the passage OF the federal re-
serve system, there were, In 1915
four bank failures; in 1916 and
1917, three bank failures; In 1918,
one bank failure, and in 1913. no
bank failures at all. The federal
reserve system, passed over the op-
position OF the leaders OF the Re-
publican party. enabled America to
withstand the strain OF war without
shock or panic; and ultimately made
our country the greatest creditor
nation OF the world.
And then the great war came on
Ultimately, by the logical steps OF
necessity. our peace-loving nation
was drawn into the conflict. The
necessary war legislation was quick
ly supplied"