Seward daily gateway., 1924-02-04
was to make the National currency more elastic and prevent panics.

was to make the National currency more elastic and prevent panics.
 "The Federal Reserve Act it has discussion by statesmen, financiers, economists and bankers and was a 1 constructive measure based upon and growing out Of many biiis which had been introduced in Congress within a period covering 20 or more years"
 Domestic concerns of the country during the Presidents first year were serene enough; foreign affairs were not so tranquil The Mexican situa- tion and the anti-alien law discussion in California, subject offensive to the Japanese, confronted Mr. Wilson almost at the outset of his administra- tion.
 A revolutionary coup q etat in Mex ica had overthrown President Madero and placed in dictatorship General l VictOriano Huerta. Within few days President MaderO and Vice President SuareZ were aSsassinated in Mexico City President Taft had deferred re cognizing the Huerta government and left the incoming President free to make his own decisions. Mr. Wilson refused to recognize Huerta and for months thereafter followed a policy Of what he called 'watchtul waiting" He isolated Huerta's government by plac- ing an embargo upon the shipment oi arms and ammunition. Meanwhile, he permitted troops of Venustiano Car ranza, calling themselves the Constl- tutionalist forces, to import war sup plies from the United States.
 Two results of the embroglio were the occupation of Vera Cruz by Amer ican forces in April 1914 and the mil itary expedition for the capture ol killing of the Mexican bandit, Fran cisco Villa, led by General Pcrshing III March, 1916, following q raid and mas sacre of American citizens ol Colum bus N. M. Finally Carranza'S gov eminent triumphed and was recognlz ed.
 On August Ii, 1914, few days at- ter the beginning of the World Wal the Panama canal was opened to navi- gation. Gr"at Rri,aln previously lad been pressing the United St ates to -a peal the provision of the Panama ca nal Act wh cl gave free passaEr to American codslNi:;a ships through the waterway She contcnded it was in violation of the Hay Fauncefote uea- ". President '|iison agl""i wth this view and personally appeared be fore congress and asked it to nullify the tolls exemption clause on the ground that if this request were not granted he would not know how to| deal with other matters of great i'm portance. It was the Presidents first test of strength, and, although he was opposed in his stand by Speaker Clark and other leading democrats, the tolls exemption was repealed.
 When the European conflict burst upon the world in all it's fury Presl- dent Wilson in an address to his fel- low countrymen counselled them to be strictly neutral. EXerting every ef- fort to avert the drawing of the Unit ed States into the maelstrom, for nearly three years he drew upon him self the bitterest criticism of some oI his staunchest friends. About this time, speaking of the example of Am erica in regard to peace, he said.
 There is such a thing as a man be ing too proud to fight. There is such a thing as a nation being so right that it does not need to convince others by force that it is right"
 Popular resentment against peace at any price was rising in Amerlca' Fighting Europe ridiculed MT. Will sons policy but lated accepted the eX- nlanation of his friends that he was maneuvering for delay, that the Unlt- ed Siates was not prepared to take big part i1 the strugsra. that the na, ton was not unitadly for war by req