The herald and news. [volume] (Newberry S.C.) 1903-1937, 1921-03-15

system. Not resting with one great
reform that would for the time have
satisfied the average president, he
launched Immediately the program
for the financial reform that materi-
allied in the Federal Reserve System,
the most wonderful achievement in
banking legislation that the world has
ever seen. In the few years of its
existence it has made possible the
financing of the Great war with ia
cility that would have otherwise been
impossible and has enabled the coun-
try to make the transition from the
perilous conditions Of war with a
painful depression instead of ca
lamitous panic. There followed the
Clayton antitrust act and the Fed
eral Trade commission designed to
enable big business to render it's in
dispensable service to the modern
world without becoming a piratical
outlaw. The income tax was intro
duced, so as to adjust the burden of
taxes as they had never been ad-
justed before to the capacity to pay.
The air was cleared Of spoils politics
by the simple announcement that the
man who sought position on the mere
recommendation of politicians would
be considered to have confessed his
unfitness on his merits; and the merit
system of appointment was extended
to tens of thousands of postmaster
ships. Rural credits were establish
ed by the Federal Farm Loan banks.
There is no exaggeration in giving
President Wilson a large part Of the
credit for these measures; for many
if not most of them would have been
impossible without his leadership. He
belongs frankly to the school of pub
licists who believe in the necessity of
vigorous executive leadership. Not
only the history of England, France,
Germany and Italy demonstrates the
correctness of this view, but a glance
over our own past tells the same
story. It is the administrations of
the great and insistent personalities
that stand out in our history: Wash
ington, Jefferson, Jackson, Lincoln,
Cleveland, Roosevelt, Wilson. The
forces that swirl and storm around
the government of a great modern
nation are so mighty, so divergent,
so multitudinous, that the necessity
of vigorous responsible executive
leadership is greater than ever be-
fore.
President Wilson Immediately ele-
vated the presidency to a new posi-
ton of influence when he revived the
custom of Washington in delivering
his great messages in person. 1t is
safe to say that the world has never
hung with such attention on the
words of any other ruler as upon the
utterances of President Wilson when
addressing in person the two houses
of congress. He has added dignity
and influence to the great office he
has held.
As a War President
The early months Of his admins
tration seemed to indicate that Presi-
dent Wilson, like Mr.. Gladstone, was
destined to be great executive only
in domestic reforms By complex
fate he was led to the highest fame
as an international statesman. Abso-
lutte integrity was struck as the key
note of his international policy when
he demanded and secured from an un-
willing congress the repeal. of the act
of the previous administration ex-
empting American ships from tolls in
the Panama canal. We had promised
equality of treatment to the ships of
all nations; President Wilson held the
nation to the ideal that American