Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-01

inform the depositors that they hoped
soon to arrange To pay them IS or 90
cents on the dollar.
Mills aud factories would close down
upon receiving this notice and laborins
people would spend their time walk
ing the streets in idleness or In tramp
| ing the country in search OF jobs and
in seeking charity at the back doors Of
the homes OF the Nation
MONEY POWER
DOMINATES NATION.
DO not misunderstood me. do not
mean to convey the Idea that cur coun-
try made no progress under Republican
Administrations. for it did. Nv thought
| Is that the financial system of the Ma
| tion was dominated by the money pc
er Of the East, and that the country
powerless to prevent shortage in
at times when the country was
need Of currency. Every merchaI
fair profit depended upon the
OF his stock and every wOrkingm
| table supplies We're shortened,
| factories ceased to run, knows
true.
1t was not until the financial
OF the Democratic party We're inaus
under the Wilson Administration
the country experienced anything
bling permanent sense of securit9~ln
business and finance.
But this is not all, my fellow country
men. The enactment Of the Federal Re-
serve Act was. one among the great
contemplation, it seems Ike blessing
Diyinely visited upon this Nation. With
out 1t think what would have been the
awful consequences, when the time came
out into the World War. Without 1t, We
could not have made a stagger toward
doing our part in saving civilization. I'M
less we had first sold ourselves to Wall
street In bondage for hundred years.
With Ii, we took care of all our own ex-
borrowing a n
dollar and loaned to our associate ma
lions to help them to meet their war OBJ
legations, billions upon billions of dol
lars. We actually gave them more money
| than a Republican Administration can
collect the interest on.
1t was our ability to do this that
made it possible to bring the war to
close, when 1t ended and We will never
know how many American boys were
saved by the war ending, when it did.
CONTROL PASSES
AMID GOOD WORK.
Following soon upon the cltse Of the
bloody and sickening conflict involving
all the great nations OF the earth, the
Democratic administration began the
work OF reconstruction. 1t sought to
bring our country back to the normal
ways OF life and business that our people
had long enjoyed before everything was
thrown out of joint by the war. This
wonderful work of pacifcation and re-
habilitatlon was just getting well under
way, when unfortunately the Govern
ment passed from the control Of our
party to that Of the Republican party,
Since this change IN party admins
tration things In the main have been
going from bad to worse. The world
had grown so big under eight years
craftsmanship grew dizzy when 1t at
tempted to survey new conditions. As
a result business went upon the rocks
and 1t Is vet stranded. Labor ceased
to have employment and a million homes
are now without the needful comforts OF
life II this be the normally we were
promised In 1920 God grant that it
may soon become only bitter mem,
DRY.
do not wish TO speak with apparent
fippancy of any position taken by the
Republican party as question OF ma
tional or OF international magnitude. but
| must confess that, giving that party
credit for being free Of partisan preju.
dice, l have never been able to under
stand It's hostile attitude toward the
League Of Nations. | know that much
has been said about the danger Of il
getting this country Into entangHng al
liances with foreign nations ana OF It's
conflict with our constitution, but that
sort Of talk never frightened its really
big lawyers and statesmen
CANNOT REVIVE
LEAGUE SUBJECT.
Now ] realize that the Lea que Of Ma
lions Will not De an issue IN tnlS Cums
paign and that nothing Democrats can
do now will bring it again before the
Senate for further consideration. Still I
would not be quite frank if ! did nos
say that i regret that the Versailles
treaty was not ratified by the Senate.
Besides. had this country gone into this
lea que. ] have not a doubt but that our in~
ternational trsde relations would have
been decidedly improved over what they
are today It would have afforded a
stimulus for the revival OF business In Eu-
rope and doubtless in other countries and
this would have meant prosperity here.
by this course we would have solved many@
economic problems distressing businessy
and pointed out to capital safe coursaN
to pursue.
But since we could not get the league,
have been willing to take the next best
thing Though it IS but very short step
In what l conceive to be the right course
to pursue, was willing to see the fours
power pact tried out.