The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1922-09-08

ever given a candidate for governor since
President, our party leader. our fell
| low democrat, became the spokesman
for all the nations allied with us.
We remember with pride those won
derful answers made by our leader
to the various suggestions for peace
which came out of Germany.S Near
the end of the long distance peace
discussions President Wilson revealed
| the true spirit of democracy when he
proclaimed to the German people and
to an anxious world audience that no
peace could be made with the Hohen-
zollrn dynasty. THE rule of brute
force, the unrestrained ambition of
an egotistio monarch, the arbitrary
power and blood thirsty plans of the
Kaiser were all inconsistent with
every principle for which our party
had stood since its birth.
War conditions brought about
great initiation in prices. Many pee
pie wanted the prices OF others re-
duced but by some strange process
of reasoning did not expect their own
receipts to be lessened. A spirit of
unrest prevailed. The election proved
that large majority wanted
change. They got It'll But what did
they get?
Republican Delay
1t Is a we'll recognized fact that
ours Is a government by political
parties and matters of grave public
concern, to meet the evolution of
the times, are either promoted or ig
nored as the shifting party power
at Washington approaches them with
spirit of action or neglect.
The transition under the repub-
1iean administration from business
prosperity to republican normally"
hac carried the country through a
period that tried mems souls and
brought disaster and financial wreck
age to many sections and many lines
OF industry. The republica admins
tration Is lacking in constructive
leadership. The old ship of state has
been left to drift without compass
upon an unchartered sea. The party
Is dividing itself into groups, such
as the farmers bloc, the bankers
bloc. tho labor bloc, the manufac-
turers' bloc, the progressive bloc and
the stand pat bloc. There are nearly
Is many kinds of republicans In Con-
gress as Carter had oats. That is the
natural outcome of the conglomerate
army modified two years ago under
the flag of the republican party. The
Is now demoralized and impotent.
Its plight Is sad and pitiful. 1t is
decaylng. Its virility and its spirit
are gone.
ship Subsidy
The favored measure of the Pres
ident is the ship subsidy bill, under
the terms of which our MAGNIFICENT
merchant marine built by the gov
eminent at cost of $4,000 900, 900
will be sold to private operators for
$500. 100000 and in addition to the
practical gift to them of our splen-
did fleet II Is proposed to take $751;
000,0 a year from the taxpayers
and turn it into the Golfers of the
ship owners. The proposition is alb
solutely unjust In principle. No one
has ever proposed to take money
from the public treasury in order to
make profitable the business of farm
ing, or merchandising or laboring in
the Industries of the country.
Four-Power Treaty
The only real accomplishment of
the present republican administra-
ton is the four-power peace treaty.
The essence of that document was
Nirloined from the pronouncements
of President Wilson. 1t is an adj
mitted fact that only through the
broad spirited Americanism of the
democratic leader in the Senate of
the United States. was that treaty
ratified. The man who declared that
beyond the three mile sea limit our
flag was the token of patriotism for
all true Americans and that petty
rarity considerations should not inter
vene whom the safety and security
of our country are involved was our
own Oscar w. Underwood.
Democratic Record
With a record replete with con-
structive and progressive legislative
achievements and with a prosperous
and profoundly contented citizenship
during the period of peace, the DEM
ocratic party has securely established
its capacity for the just and wise
exercise of responsibility and power.
The people, now that they have
somewhat recovered from the hys-
teria OF postwar passions and its
blight and group and racial preJu-
dices, are beginning to take stock of
what the two major parties did for
them IN constructive achievement
when respectively in power. They
are now getting down to the bed
rock of that most pertinent inquiry
(which Of these two organiza lions
can be most relied upon. not only to
| pAOnliSts BQl aiSO 10 pTOQuCC
is with feeling of profound gratifi-
cation as democrat, as one who by
natural inheritance and acquired
faith, believes in the principles and
| cherishes the traditions and accom- :
| plishments of that great party, that
! assert that during the eight years
| of Woodrow Wilson's administration
more constructive and progressive
J legislation for the actual benefit OF
all the people was enacted than dur
ing any similar period of time in the
/ entire history of the republic.
Federal Reserve Bank
/ At the head of the list of great
remedial legislation stands the fed
eral reserve banking act, which took
from a combination of allied ard self
ish banking interests of the coun-
| try the control of the volume OF
money and the elasticity of credits
and invested that power in the gou
eminent itself. This. legislation
wrested the control of our national
/ finances from a great centralized
| group of syndicated bankers and re-
| turned in effect that power to the
people. For the first time in our his
/ tory stability as wqell as elasticity
and sectional independence in credi,
4 facilities were adequately provided
By Incorporation OF this act dem
ocratic administration was able to
| finance the terrific demands of The
World war without panic and with nc
| diminution of the par value OF our
| dollar and at the same time finance
the necessities of our allies in stag
! gering amounts-in the end trans
forming our nation from debtor to a
creditor nation. This colonial Imam
cial undertaking in its operation and
| effect has no parallel in history. II
there were no other, this epoch max
ing land mark of legislation would
| deserve the justification of posterity