The commoner. (Lincoln, Neb.) 1901-1923, October 01, 1913, Image 1
The Commoner WILLIAM J. BRYAN, EDITOR AND PROPRIETOR - j VOL. 13, NO. 30 Lincoln, Nebraska, October, 1913 Whole Number 654 Tariff Bill Signed; President Urges Currency Reform After affixing his signature to tlio new tariff act, October 3, President Wilson de livered an lmpressivo extemporaneous speech that brought prolonged applause from his hearers. The president declared that the passage of the tariff bill, great as the accom plishment is, is only half the Journey; that a great service had been done for tho rank and file of the people of the country, but that tho second step in the emancipation of business was currency reform. He earnestly urged his xjollea'gues to go "the rest of the journey" with fresh impulse. Tho president's address follows:" "Gentlemen: I feel a very peculiar pleasure in what I havo just done by way of talcing part in the completion of a great piece of business. It .is a pleasure which is very hard to express in words which are adequate to express the feeling, because the feeling that I have is that we have done the rank and file of the people of this country a great service. "It is hard to speak of these things with out seeming to go off into campaign eloquence, but that is not my feeling. It Is one very profound a feeling of profound gratitude that, working with the splendid men who have carried this thing through with studious at tention and doing justice all around, I should have had part in serving the people of this country as we have been striving to serve them ever since I can remember. "I have had the accomplishment of some- Victory No. 1 At nine o'clock and ten minutes p. m., on October 3rd, President Wilson, in tho presence of some fifty persons, including representatives of the administration, of congress, and of the press, affixed his signature to the new tariff law and gave expression to the satisfaction which it gave him to participate In this long-promised relief to the American people. It was a triumph ant hour for him, for the party, and for the country. As he said in the felicitious speech which he delivered, he has been looking forward to this legislation all his life It was the con summation of his efforts at the lowering of tho taxes. Millions of democrats share the rejoic ing with him and among them no one is happier than myself. I became a tariff reformer in college; it was the first subject that I presented from the stump, and during the thirty-three years since I began to i talk tariff reform I 'have felt an increasing aversion toward a fiscal system that gives pro tection for protection's sake. ;The tariff law that went Into force October 3rd is the. best tariff measure since the war, and aWwho have taken part in preparing it are en titled to great credit. It Is a better bill than we were able to pass twenty years ago, and I thing like this at heart ever since I was a boy, and I know men standing around mo who can say the same thing who havo been waiting to see tho things done which it was necessary to do in order that there might bo justice in tho United States. And so it ia a solemn moment that brings such a business to a conclusion, and I hope I will not bo thought to bo demanding too much of myself or of my colleagues when I say that this, great as it is, is the accomplishment of only half tho Journey. "Wo have set the business of this country free from those conditions which havo made monopoly not only possible but in a sense easy and natural. But there Is no use taking away the conditions of monopoly if we do not take away also tho power to create monopoly, and that is a financial rather than a merely circumstantial and economic power. "Tho power to control and guide and direct the credits of the country Is the power to .say who shall and who shall not build up the industries of the country, in which direction they shall be built, and In which direction they shall not bo built. "We are now about to tako the second step, which will be the final step In setting tho business of this country free. That is what we shall do in tho currency bill, which tho house has already passed and which I havo the utmost confidence the senate will pass much sooner than some pessimistic individ uals believe. "Becauso tho quoatlon now thnt this ploco of work is done will ariso all ovor tho conn try, 'For what do wo wait? Why should wo wait to crown ourselves with consum mate honor? Aro wo so self-denying that wo do not wish to complete our success?' "I was quoting tho othor day to somo of my colleagues in tho somite thoso linos from Shakespeare's Henry V., which havo always appealed to me, 'If it be a uln to covet honor, then am I tho most offending soul alive;' and I am happy to say that I do not covot it for myself alone. "I covet it with equal ardor for tho men who are associated with mo, and tho honor is going to como from them. I am tholr associate. I can only complete tho work which they do. I can only counsel whon they ask for my counsol. I can como in only whon the laBt stages of tho business aro reached. And I covot this honor for them quite aa much as I covot It for myself. And I covet it for tho great party of which I am a mem ber; because that party is not honorablo unless It redeems its namo and serves tho people of tho United States. "So I feel tonight like a man who Is lodging happily in the inn which lies half way along tho journey and that in tho morning with a fresh impulse we shall go tho rest of the journey and sleep at tho journey's end like men with a quiet consclenco knowing that we have served our fellow men, and havo, thereby, tried to servo God." rejoice that political conditions aro such as to make the present law possible. The Wilson law of 1894 was compelled to bear a burden that will not fall upon tho present law and ought not to have fallen on that law. The Wilson law provided for an income tax which was held unconstitutional by a Ivided vote, the one majority having been secured by a change of opinion on tho part of one judge be tween the two hearings of tho case. The nullification of tho income tax portion of the Wilson law reduced the government's in come until it would not meet expenses and this CONTENTS TARIFF BILL SIGNED; PRESIDENT URGES CURRENCY REFORM VICTORY NO. 1 NOW FOR CURRENCY REFORM DIGNITY MAYOR GAYNOR THE PRESIDENT SIGNS NEW TARIFF LAW ULTIMATE INDEPENDENCE FOR FILIPINOS A SUCCESSFUL EXPERIMENT "BANKS EXIST FOR THE ACCOMMODA TION OF THE PUBLIC AND NOT FOR THE CONTROL OF BUSINESS." THE MAN IN THE WHITE HOUSE THE NEW SCHOOL YEAR THE WORK OF THE PRESIDENT'S CABINET CURRENCY SPEECH OF CARTER GLASS compelled an lncroaso of indebtedness that threw upon the law an undeserved odium which, together with the fact that tho senato deprived tho bill of somo of its beat features, robbed the party of the benefit which would ordinarily havo como to it from a reduction In import duties Then, too, tho law went into operation at it time when financial conditions were bad, and many attributed to tho law resulting defects for which it was not at all responsiblo. I mention tho law of nineteen years ago be cause it is tho only thing sinco tho war with which wo can compare tho present law. Econ omic as well as political conditions make It pos sible to do now what could not bo done then. Wo have, too, at this timo a united party which is a great asset. The president and the democrats of the house and senate have been in full sympathy and have worked unitedly in the accomplishment of thig important reform. .They share tho honors to gether and the honors are sufficient to give dis tinction to all who havo participated. October 3rd marks an Important epoch in the economic history of tho generation, and I am confident, that it will not be long before the country will be able to celebrate a second triumph for tho president, congress, tho party and the country, when the new currency bill passes and receives tho president's signature. W. J. BRYAN. EVERY' READER OF THE COMMONER IH URGED TO WRITE TO HIS SENATORS AT ONCE, :MAKING KNOWN HIS VIEWS AND URGING IMMEDIATE ACTION ON THE CUB RENCY RILL. i I -1 5"r ?