South Bend news-times. (South Bend, Ind.) 1913-1938, 1920-08-22
Hon. Thomas Ta9gart LikenS
SenatOrShip to Business and
Pledges Himself to the Task

sions and 10 submit 70 the continu-
ance OF the wrong.
feel that the people OF Indiana
Will no longer submit 20 that but
they will at their first opportunity
elect that splendid soldier and high
minded gentlemen. DR.. McCullU,h 20
the governors chair, with a demo-
cratic legislature al his back TO pro-
coed 10 repeal the un-American laws
the republicans have enacted and
follow this by legislation 10 con-
serve the highest interest OF the peo-
pie.
Wilson Administration
Now I want TO speak a word to
YOU about national affairs. IL would
take too long 10 tell you all that
was accomplished under Pres't WI
s1n's administration. I 5hall call
attention only in brief way 70 the
most conspicuous reform and con-
structive laws that were posed.
These were thu income tax law. the
farm loan act. agricultural extension
act. the good roads law, the child
labor law, the eight-hour law as ap-
piled TO all government work, the
minimum wage law, the Clayton
law by means OF which labor ceased
10 be a commodity 10 be bought and
young soldiers, the seamen's act.
merchant marine possible proper
protection, the public warehouse act.
the election OF senators by the peo-
Pile a corrupt practice act TO guard
elections, and the passage OF the
women'S suffrage amendment for
adoption by the states as a part of
our constitution.
Pres't Wilson succeeded in having
adopted as laws two great measures
which viii make his administration
one OF the greatest in history. name
ly. the reform Of the tariff commits
sion and the federal reserve bank
law.
The success Of the federal reserve
bank law has been so remarkable
that Il has won not only the ap-
prevail OF all fnanciers but the con-
fidence of the entire public. What
ever other troubles may come there
is no danger CT a money panic be
cause the law has been subjected TO
the most severe tests imaginable.
Our National Debt.
At the close CT the Revolutionary
war our national debt was $75,463.
476. 1t had been reduced to $40
209,737 wher the war Of 1912 came
on In 1916 at the close OF that
war the national debt was S127,334.-
93J. This was paid off within the
next 20 years. but the panic OF 1897
and the MeNi an war Put the do
up to SOS. 304 796 in 1851 In 1859
II had been reduced to s64, .28I
and tie Civil war put il up 10 81
773.23G.174 III 1866. II was slowIv
reduced until the Spanish American
war made an increase OF about
$3.50, 100000. AS large as these fig
ures are, they are small as compared
with the World war in which our
national debt increased in round
numbers 20 billion dollars. But, IN
this war, in addition 10 financing
ourselves. the United States govern
ment loaned SS,59S,773,702 10 the
allies after April 1917, and prior 10
that time over $4,000. 900. 900 of their
loans had been flooded in this CoUn-
try. Notwithstanding that enormous
strain the country went through the
war without a suspension Of specie
payments and without any material
money disturbances. The Importance
of this cannot be exaggerated. In
every preceding war except the Mex
lean and Spanish-American wars,
the country was forced off a specie
basis and the effort to resume 10
specie payments bankrupted the
country for years. Anyone who can
remember the hard times of the
7O's and SOS can form some appre-
citation of what we have escaped by
the virtue of the federal reserve
bank law At the same time Euro
pean countries have been forced TO
suspend, and the arrangement Of
foreign exchange that has occurred
in the last year would have newt
ably made a money panic in this
country under our former money
system. At the present time there
is nothing more viciously disloyal
than the profiteers' propaganda that
we have a soc dollar" which Is be-
ing used as a camoufage for their
unjusti1able boost in prices. Every
dollar of paper money in this coun-
try Is worth a gold dollar and has
been all through the Wilson admin
istration.
Tariff Commission.
The other great law was the
tariff commission law, which has not
yet had a real trial as the war had
the same effect as a high tariff in
preventing importation in competi-
ton with our products. But, no.
body who is not interested in prof.
teering through unreasonable tariff
rates VIII question that nXing tarin
rate is not a proper legislative func-
ton. II it be granted that II is de-
sirable that an article manufactured
in this country should be protected
from foreign competition the rate
OF protection is plainly a business
question TO be decided after an ex-
animation OF the details OF the bust
ness. Nobody pretends that the
m emil ers of congress make such a
study OF protection Of the articles
under the tariff schedule They
usually act on party grounds; the
amount Of tariff rates depend on
| what party is in control of congress
! Just at present We have a ques-
| ton OF protection OF the manufac-
/ ture OF dyes for which we learned
/ during the war that we were largely
/ dependent on Germany. No one
J will contend that a commission Of
/ experts OF tariffs and tariff legisla-
! tion would not be able 20 work out
! more satisfactorily and justly 70 the
/ American people the tariff that
! should be fixed on dyes than would
an inexperienced congress Pres't
! Wilson and a democratic congress
] thought j tariff commission would
/ put 10 rest tariff agitation. that al
/ ways unsettled business and al
/ tines bred parirs and SO they
/