Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-05-20
PUTNEY NOT TO RUN
FOR GOVERNOR; FOR
JONES FOR SENATOR
CONTINUED from page One. /,

der that the big interests might moi
continue TO manipulate the cur
rency and credits Of the country
for their own benefit and that
panics might not be created at the
pleasure of Wall street.
after bitter fighting the federal
reserve system was born, the child
of a democratic administration. We
all know that the federal reserve
system made 1t possible for us 10
finance the world war. We also
know that the powers Of that sys.
tenn were later used in times OF
peace, to force UP interest rates to
u ruinous degree all over the coun-
try and while there was no panic
for the democrats had made that
The republicans used
the powers of the new banking law
TO bring about q depression that
brought disaster to the farmer,
stockman and merchant. Under the
excuse of debating prices 1t enabled
the big banker to make more
money than they had ever made
before in their history. Not even
in war times were men with money
able to reap such q harvest OF
from high interest
rates and from property taken in
far below its real value.
This great federal reserve sys-
tenn had its defects as shown by
the manipulations under q repub-
lean administration. Let US pro-
coed to correct these defects so
grossly abused, by giving the child
back into the CUSTODY of its parents
the democratic party.
THE next great measure Of Pres
ident Wilson's program was a
banking system that would aid ag-
riculture. He and a democratic
congress put through legislation
which brought into existence the
federal farm loan board with
twelve regional banks. Through
these banks the farmers have been
able to borrow nearly a billion dol
lars at per cent, the loans run
ming for a period of thirty-three
years, one might term 1t mortgages
that never come due because the
farmer pays off the loans with the
Interest year by year.
1T was a great thing for the
farmer, and the people of eastern
New Mexico have profited greatly
from it, and r. we can get reclaim
alton in the central Rio Grande
valley it will be a great thing for
us.
THE next great measure Of
President Wilson was the federal
trade commission. As a merchant
have come In contact with the
workings OF that law frequently
and 1t has done more toward pre-
venting unfair competition and for
curbing combinations In restraint
of trade than all other laws ever
passed by congress.
Then the president and a demo-
cratic congress passed tariff act,
that prevented combinations for
the purpose Of merely boosting
prices to the consumer, and an
other bill was passed by which a
tariff board was created. The
democratic tariff act was not per-
feet. None have ever been per-
feet and according to the glimpses
we have OF the bill now pending 1t
is the most Objectionable tariff leg
islation the country has ever
known.
From the viewpoint OF the re-
publican leaders who represent the
special interests, Woodrow Wilson
committed one objectionable sin
When the great war was on and the
cost of living was going up by leaps
and bounds. he saw fit to favor an
increase in wages so that the work
ers might meet the increased ex-
penses of living. Also he saw I'll
to curb the profits of which the
necessities OF life might be sold to
the consumer, when he did that he
cut down the profits Of the special
interests.
ut was then that the wolves be-
gan to howl and soon the whole
grey pack were after him trying
to tear him down. They were nor
opposed to the league of ma
tons they merely used one OF
Woodrow Wilson's great policies
as a means of attack, they SLAM
dered him, abused him, lied about
him, and they still hate him. Only
recently Congressman F'ordney.
chairman of the committee franz
ing the new tariff bill, expressed
the sentiments Of the men in whose
interest he is framing the tariff
measure. He said Of President
Wilson;
I've would say to him what I
have heard sung at the close of n
school I attended down in the
backwoods,
Goodbye scholars, goodbye
school,
Goodbye teacher. you darned
old fool
THE republicans Of the house
applauded.
at is not possible that the peo-
ple this country will concur in this
expression or will vote 10 return
to power a party who has as one
OF its leaders man who would
stoop to further hound q man who,
because of his greatness. and JUS
tice and vision and love for the
people Of the United States was
bounded to the brink Of the grave
and is now an invalid and unable
TO reply to attacks made upon
him. The grey wolf pack set out
to get him and they got him tenn
porarily. But he is coming back.
THE name of Woodrow Wilson
is destined to go down In history
with the names of Washington and
Lincoln, and the world will be sing
ing his praises when the Lodges
and Fordneys are shoveling coal,
"1n New Mexico we still need
equalization of taxes although, ow-
ing to the attacks made by the
democrats In 1920 some Of the
glaring inequalities have been rem
edied. We must have a sentiment
in this state that will make it I'M
healthy for the laws to be admin
istered in the interest of the rich
az against the common man. You
certainly have not forgotten the
slogan of the democratic party.
although 1t is not heard often now.
adays:
Equal rights FOR all. Special
privileges for none
ALLOW me, my friends, to be-
come a little personal. ] have
been asked to become a candidate
for the democratic nomination for
governor OF New Mexico. I have
considered the matter from every
possible angle, including what
should be done to insure the elec-
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