The Bridgeport times and evening farmer., 1920-10-12
Hitchcock Says
 Article Ten Is
 Truly American

banks. You know that they had been going on decade after decade while | the Republican party was in power. This country, the richest in the world, the most intelligent in the world, the country of greatest resources, was af- lf1icted by these great pan1cs. when Great Britain and France and other tcivilized nations of Europe were free of them. During all that period the Republican party which boasteds that lit had a sort of monopoly of con- lstructive statesmanship. wasn't able | to cure this evil ok-many panics. The first act of the Democratic administra- Iton was to pass the Federal Reserve
 Bank act and today that is regarded iali over the world as the finest sys- tenn of banking and currency any.
 where. Bank panics are a thing of the past. The 7,5o0 national banks
 of the country have been amalgama . ted into one great institution.
 The reserves of all those banks have
 been mobilized and they stand ready
 to come to the relief of any part of the country at any time. The banker now, when he looks upon the prom
 issory notes in his portfolio, knows
 that they are living assets that he can sell in the Federal Reserve bank for
 money, and can pay that money out to his dep0eitors. The result is that the banker finds that he is in a safe
 business, but the business man knows that he can borrow money and the depositor knows that he is not likely to lose all that he has saved in the
 bank. That single act of this admin istration, if there had been no other, would have entitled it to take rank high in the history of constructive statesmanship in the United States, and for that reason our Republican friends do not raise the banking and currency question, or the money ques- ton.
 They opposed the passage of the Federal Reserve Bank act. They , voted against it as your Senator Brandegee did, but they dared not in their convention condemn it. not state that they will repeal it, and they dare not state in their convention that they would repeal the Democratic tariff for
 revenue only. Those two issues are abandoned, and ladies and gentlemen, what can poor party do when it is
 deprived of it's great issues?
 They have found way. to getting an issue in this campaign. They found that by holding up in the sen ate the treaty of peace with Germany
 League of Nations, they would have
 an issue that they could test before the American people and for that req son, and believe for no other reason,
 the League of Nations issue is before the people of the United States in a solemn referendum. That is not a party question. It isn't a partisan ! question historically as those other iuCSIIOHS were. MGn are crossing party lines and women are crossing l party lipes on the League. On the Republican side it has been a more or less successful attempt to mobilize the numerous German vote against the League of Nations and the ratifi- cation of the treaty. Won Mach and Viereck and others have succeeded in | starting a movement likely to swing to The Republican candidate a great | many Of those votes. We believe | A 1nr~ ,f D | l1cans who believe in the League of | Nations as the means of salvation that | also will feel at liberty to cross party l tines and vote for the Democratic can
 didate for president of the United | States.
 | Connecticut is in a position to ren- | der a great service not only by the 1 vote on the presidency but by the vote
 on the senatorship. If the senate had been Democratic and organized by the | neinoCrats, we wouldy have entered I the League of Nations and treaty ot l peace would have been ratified but by
 a slight majority the senate was or ganized by the Republicans and all l the machinery or organization was used to make impossible the consent | of the senate to the ratification of the treaty. l was aboN to say Q major:t,
 ot two. As a matter of fact. if one | Republican senator hadn't bought hi:
 seat in Michigan there probabl; Il wouldn't have been any majority al all. Someone has wittiIy said: 'sTht
 Republican majority in the senate I.
 now under conviction and may be il the penitcntiary."
 Because there was no other issue the Republican leaders have brough thls issue into the campaign, the erea
 moral question involved in the flu ture welfare Of the world. and tha question is dragged down into part, politics, because there was no othe, issue to presert to the American peo
 Die.