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President Wilson Signing the Federal Reserve Act -THE LAW THAT ABOLISHED PANICS

Why Business Men Will Vote

for Wilson

The Constructive DOMESTIC Legislation which
has Created Prosperity and Made for its Permanence

T

HE outstanding feature of the 1916 arise from conditions which made themselves

Presidental campaign is that many evident after his adjustment to his office. They

thousands of Progressives and Re- feel that never before in the history of the publicans are openly supporting President nation have so many vitally necessary and so Wilson and advocating a continuance of his completely sound economic reforms been enacted policies.

into laws in so short a time. An astonishingly large proportion of these These views and the reasons for them can are the heads of our most important industries not fail to merit your earnest consideration, which do an inter-state business. They are since they are the views of Mr. Wilson's former your kind of business men. They believe that political opponents, important men who do not the marvelous business development of this change their minds easily, but who, in this nation during the last two years is due to the instance, have had overwhelming cause to do policies of Mr. Wilson and not to the war in They have changed their minds—they will Europe. You will doubtless challenge this, but vote for Mr. Wilson, and here are the reasons read a little further and you will see the proof. why. These business men feel that he has caused to In two years our national wealth has inbe enacted legislation which the country needed creased $41,000,000,000. This is approxidesperately and which, in spite of promises, it mately $410 per capita, an increase beyond failed to get under other administrations. They parallel in any other period of the nation's feel that he has far exceeded his campaign history. Bank deposits have increased 24% pledges — that, unlike predecessors, he has over 1912. The trade balance in favor of the created helpful laws as he found the need to nation has increased 227% over 1912. Our

Our national wealth has increased $41,000,000,000 in two years.

This is NOT due to the war. What DID it?

The Outlook Advertising Section

ume.

agricultural exports have increased 44.1%. 000,000 during the same period, or nearly Our manufactured exports have increased twenty times our foreign trade balance. Giving 55%. Farm lands have increased in valua- the war credit for all our increase of exports, tion 12.7% over 1912. Employees of man- it is still evident that the staggering amount ufacturing industries have increased 23.2% of over $38,000,000,000 increase in national over 1912. The value of our manufactured wealth in two years is due to interior condiproducts has increased $9,400,000,000, or 41.2% tions-domestic prosperity. over 1912. The very magnitude of these And domestic prosperity can be due only figures makes it difficult to comprehend their to domestic causes, and powerful indeed must true significance. Labor leaders have made be the causes to produce so unprecedented an the statement that never before in the history increase in prosperity in the unprecedentedly of the world have so many people been given short space of two years. steady employment at such high wages, under Here are the causes : Mr. Wilson has from conditions so satisfactory as in this country his first days of office shown the keenest solicito-day.

tude for the business of the nation. In New York State the number of factory He early formulated the policy of compellemployees was 21% greater in April, 1916, ing big business to correct its own abuses than in April, 1915. This condition is typical where abuses existed. The Department of of that in industrial centres throughout the Justice has been coldly just and absolutely nation.

relentless in the prosecution of criminal interThis is not a sectional prosperity. It is ests and individuals. But it has taken firm national. Neither is it a class prosperity bene. yet friendly counsel with interests whose pracfiting some at the expense of others. Farmers, tices were legitimate. Not only has this been working men-skilled and unskilled, manu- a direct benefit to the country at large, which facturers, merchants, transportation lines, public has been protected from predatory short cuts service corporations, all have had their pro- by great interests, but it has placed these inportion--the makers and the distributors, all terests themselves on the sure, safe foundation have shared in the unprecedented trade vol- of justice, right and fair dealing; changed

many a short-sighted get-rich-quick policy to

an enduring soundness which is immune from FACTS ABOUT WAR PROFITS

attack through its very qualities of fairness The war has helped the country—in spots. and clean methods. And the interests so reThere is no argument about that. But few constructed are vastly sounder and safer finanrealize how very small are our benefits from cially through this enforced reconstruction of the war compared with the mighty volume of policy from within. trade increase.

RESTORING CONFIDENCE Here are the figures. Our munitions exports are $480,000,000 for the fiscal year, or Capital has been encouraged in all legitionly one per cent of our manufactured products. mate enterprises, instead of being discouraged The manufactured products have increased and intimidated. Mr. Wilson has made busi$9,400,000,000 for 1916 over 1912. Deduct ness ethics, business decency, business morality the munitions business from this total, and there and business humanitarianism nationally fashis still an increase of $8,920,000,000 in manu- ionable to our everlasting credit. The figfactured products over 1912.

ures above prove how very profitable it has It is true that our exports of other com- been. modities, foodstuffs, agricultural machinery and We cried for years about a nation-wide lack the like have been increased both to coun- of confidence. Mr. Wilson recognized the tries at peace and at war by the paralyzing of need— Mr. Wilson restored confidence. European industries during war time. But Mr. Wilson has kept us out of war-and here again our benefit is but a small percent- with honor and dignity. He gave us the chance age of the trade increase. Our foreign trade to take advantage of the unparalleled opporbalance, the excess of our exports over our tunities for business increase within our own imports, has increased $2,130,000,000 during borders. The expansion of our trade to forthe two years of war. For the sake of con- eign countries is a splendid thing. The men servatism, let us assume that this entire foreign engaged in it are doing a work for which the trade balance is due to war conditions. Still, nation will be deeply indebted to them in years our national wealth has increased $41,000,- to come. But it is well to remember that this

The Outlook Advertising Section

WHY BUSINESS MEN WILL

VOTE FOR WILSON

WHAT MADE EXPANSION POSSIBLE

country is so young, its confines so wide, its fluid mobilization of banking resources at natural resources so beyond estimate, its op- needed points, which this law made possible. portunities for self-development so vast, its By its provisions not one bank was obliged to powers of consumption of both agricultural call the loans of one merchant, at a time when and manufactured products so astounding, the money centres of the world were shut up that we could even wipe out our own exports almost over night. This one piece of legislacompletely and still have prosperity with us tion, which has made panics almost impossible, through the encouragement and extension of stands out in value far beyond any constructive our home industries and home consumption. legislation which any other administration las The increase of manufactured products alone ever given us. was more during a single year by the volume No. 2. The Rural Credit Bill, which for the of $3,886,000,000 than our combined agri- first time puts the farmer on a plane with other cultural and manufactured exports

exports during business men in the enjoyment of credit facilitwenty months—a period nearly twice as long. ties adapted to his needs—a situation provided And this increase was consumed within the over a generation ago for every other business confines of our own nation, an easy and natural of the country by the National Bank Act. market.

No. 3. The Income Tax Law, which takes This is an indication of how we can prosper from the extraordinarily rich a largely increased at home if helped by constructive legislation, amount toward the expenses of a Government how Mr. Wilson's sound administrative policy that operates for their benefit in safeguarding has helped us when we were sadly in need the investments on which the balance of their of help.

It must not be taken to decry the incomes depend. value of building up our export trade on which No. 4. The Federal Trade Cɔminission Act, the ultimate prosperity of the nation will un- for the protection of the public and the business questionably depend.*

man as well —which is framed to prevent unfairness in competition, injustice in any industrial operation. It assures a constant study of business conditions that they may be improved for

vested capital, manufacturers, distributors, the That expansion of home business, which far exceeds the prophecy of any optimist, is what

wage earners, and the consumers. Mr. Wilson made possible for us by keeping

No. 5. The Clayton Bill, which makes clear, us out of war. Taking the coldly material simple rules of the alarming and threatening side of it alone, leaving out the horrors of

vagueness of the Sherman Law—which predeath and mutilation, the nation-wide sadness

vents monopoly through the control of one of devastated homes, Mr. Wilson has brought corporation by another, which restricts the

abuses that have in the past arisen from interus Prosperity by assuring us Peace. And this

The he has done through the most trying period the

locking directorates, which decrees that

labor of a human being is not a commodity nor world has ever known, though he was perplexed

article of commerce." and beset with complications from every side.

No. 6. The Good Roads Law, which gives And we must be forever indebted to Mr. Wilson for saving the lives of countless thousands of

to the states Federal aid in building roads and

which will inevitably make more accessible the our sons.

farm lands of the nation, increase their value Now see the enduring foundation of desperately needed, sound economic reforms which

and decrease the operating expenses of the

farmer. have been enacted into laws during Mr. Wilson's administration and which are the most vital

No. 7. The Smith-Lever Agricultural Eduinsurance of our prosperity, while increasing our

cation Act, providing that the Federal Govnational self-respect:

ernment shall co-operate with the states in No. 1. The Federal Reserve Act, which has

educating the farmer in ways of securing “cured us of fits ”-cured our national disease

greater productivity of the soil-in replacing

rule-of-thumb methods with scientific and inof panics. Economists unite in saying that we would have had the worst panic of the nation's

tensive effort, which will add vastly to the history at the outbreak of the European war,

wealth of the nation by increasing the producwere it not for the elastic currency system, the

tivity of each acre and by increasing acreage

under cultivation. Please write 115 in 100 uurd's, · feuer, why you tre No. 8. The Child Labor Bill, which Mr. supporting Mr. Wilson. IVe can make a most valuable use of your expression.

Wilson has vigorously advocated against The Outlook Advertising Section

manence.

strenuous opposition, and which with his typical economic principle which no President ever beforesight will safeguard our children's children fore advocated. to the everlasting credit of the nation.

When Woodrow Wilson

was elected the These are a partial record of achievements voters of the nation were emancipated from which have revitalized the nation.

the necessity of depending on a few rich men But prosperity isn't everything. Decency, with far-reaching vested interests to finance a self-respect, right thinking, protecting the home presidential campaign, and it is imperative that and the lives in the home; aiding through the this emancipation be made permanent. power of the nation the conditions that will It takes money so to conduct a campaign enable these lives to be useful lives, happy for the Presidency that all the issues may be lives-these transcend prosperity—this Mr. properly presented to all the people for their Wilson has done. He has given us pros- intelligent consideration—it always has and perity, too, and he has assured to us its per- always will. , We propose to see that the

people themselves provide the necessary funds. The list of achievements under Wilson is This is their right and their privilege. long-the time in which they were wrought We earnestly request you to join the “Hunwas short.

But there is still work to be done. dred Thousand Club," the members of which After many distressing years, after years of will contribute the funds to insure the contrusting and being disappointed, we have found tinuance of the work which was begun under a man who will do it—who has done it—and Mr. Wilson. We urge you to contribute what who is doing more—who is still laboring at the you can.-Send us $100-send us more if work yet to be done.

you can. Send us all you can—if it is only We need to keep that man. We must $10. Send that and it will be just as gratekeep prosperity and we must carry the work fully received. forward.

This is a test. It is a test of you and your We want to keep the proven man, the convictions, and your willingness to strive for proven motives, the wisdom, the foresight, the these convictions. We want

a contribution unselfishness, the caution, the safety, the good from you that will mean a real sacrifice. Mr. times, the contented, happy workers with useful Wilson has fought the people's fight. He has work to do and lots of it.

treated all citizens as Americans and sought Under President Wilson business has been to serve them all. We, therefore, have no emancipated from panics; the farmer from hesitancy in accepting from you a contribuchaotic credit conditions; the workers of the tion which will be a real sacrifice, a real strain nation from adverse conditions which persisted on your resources, to do your part in carrying for generations; the children by an enlightened a great work forward.

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MR. HUGHES IN THE WEST

BY FREDERICK M. DAVENPORT
STAFF CORRESPONDENT OF THE OUTLOOK

BOOKER WASHINGTON: THE MAN AND

HIS SCHOOL
BY E. J. SCOTT AND L. B. STOWE

TWO VIEWS OF MEXICO
SPECIAL CORRESPONDENCE OF THE OUTLOOK

CARDINAL - MERCIER: A PERSONAL IMPRESSION

BY EDWARD EYRE HUNT

PHOTOGRAPHY WITH A DIFFERENCE

BY HENRY HOYT MOORE

FOR COMPLETE TABLE OF CONTENTS SEE
THIRD PAGE PRECEDING READING MATTER

WEDNESDAY, SEPTEMBER 13, 1916
PRICE: TEX CEVTS 1 COPY
TIREE DOLLARS i TEIR

381 FOURTH AVENUE, NEW YORK

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