TOM WEEKLY STOUT'S LETTER
national committee, ex-Speaker
*l<>e Cannon of .Illinois , and ex
Governor Hadley of Missouri had
made speeches or delivered them
selves of "stnteny?uts" to the ef
lect that we are about to have a
panic. He drew from these well-,^
timed speeches the inevitable con
elusion that there is a conspiracy
on foot among those self-same re
publican leaders to contribute to
waril the very tiling which they so
tearfully predicted, to-wit 'the dis-!
t urbance of business in this coun
fry. He pointed out that it stands
to reason that if a chorus of such
powerful voices as these of thej
mighty gentlemen mentioned
raises the cry of "wolf, wolf"
thousands of timid people will be
come frightened and ther» will,
come about a consequent loss of j
confidence arid a tightening-up of j
commercial transactions. In good
round terms, the big Speaker de- j
nounced those who would thus de-'
kiberately set out to destroy con
tide nee and bring about a busi-1
ness reaction merely that they
might profit politically thereby,
He showed that conditions are not:
us the alarmists have been paint
ing them and that there is not the i
slightest foundation for apprehen-'
siou on the part of
It will he observed that when
the currency bill came up fora fi_!
nal vide in 1 he house nil but fwo
"f the progressives aula large
number of republicans went on
record in favor of the measure.
The day after the bill was finally
disposed of, I happened jo be
talking with a republican member
from Ihe west and he said: "I vot-j
o 1 tor ihe bill because I believe if
is all right. I studied the qnes-f
lion from every angle and with
hostile eyes for I was trying to
find some excuse for voting against
it Imt could not find any such ex
•nse." Victor Mat-deck, leader
- ■!' the progressives, said that, the
measure is not what the progress-j
ivrs want in every detail but tlmt!
it is a great improvement over the
present system and, lor that rea-!
son, he had no hesitancy in sup-1
porting it. But two democrats
voted against the bill which is rath-j
er remarkable when it is consider
ed that, in the beginning, scarcely j
nay two men in the house held the j
same view on the subject.
organization committee compris
ing Secretary of the Treasury Me.!
Acioe, Secretary of Agriculture
Houston and the comptroller of
the treasury must select ''not
more than eight nor more than
twelve". Federal reserve cities
and divide ihe continental United
States into ns many districts.
The next big job will be to put
the new law into effect. And, in
passing. I will emphacize the mag
nitude of this task. First off, the!
orcranizatinn rnmmittpp fmmmc
Naturally, every city of any com
- • 1 • ' ...
inertial importance would like to
be selected as one of those Feder
al reserve cities in which one of
the liig banks will be located. In
cidently, we have quite a number
of such cities l would rather pick
a postmaster for every town in
Montana than have handed up to
me the job of selecting those eight!
or twelve reserve cities. When;
McAdoe, Houston and the comp
troller, who is yet to he selected,
have concluded that portion of
their label's, the}' will be mighty
popular men in "not less than
sight nor more than twelve" cities
in this fair land of ours and
mighty unpopular in about eight
hundred or twelve hundred.
In the meanwhile, the Presi
dent will be busy picking out the
live months together with the three
officials previously mentioned will
comprise the federal reserve board.
I rathpr surmise that there are
several thousand patriots in this
nation who are willing to serve on
that board and draw do w n, as an
annual emolument therefor tire
tidy sum of twelve thousand doll
ars. I for one feel that there is
just one qualification which will
not be seriously considered when
partisanship, ft is my firm belief
that the example thus set by the
the present President will be fol
lowed in that respect by all future
,e President starts in to fix upj
Hint list of five and that, is politics,
The critics of the bill have pro.
if daimed tfmt it will be made the
V( -hicle for the up-building of a!
powerful machine but I am firmly
convinced that President Wilson
proposes to prove to those critics
that there is now at the head of!
Hhis government a man who can
ftnd will place patriotism above
...............^- ujn „. uluI1
Presidents of this country it mat
lers not what their political faith
j That long-deferred glad vacation
now upon us. Tin President
has left for some littie town down
in ihe wilds of Missippi and most!
of the members of congress have!
also left Washington for other!
parts. It was a long while mm-1
ll| g this vacation, nearly ten
i months in fact and fully five months
after it was scheduled to arrive,
but is none the less welcome never
, theless. At that, it will not lie'
unduly extended as the boys must!
i lu ' *' a °k here rlanuary 12th to re-j
Rl,mp business al the old stand.
j List time some of thenppropri
! atlol ' bills will be ready to report!
j to ^' e bonse and business will be
j ( * uite brisk under Ihe trig dome!
I ^ or seV(ira * months to come. There
is a disposition in ail quarters to!
i burry things as rapidly as possible!
as *bnt we may lie through and
! rea( b' b> |>uit b\ -June but it is!
j doubtful i! that can be /iceomp
j bshed. There is a lot of work
i a bcad of congress for this session,
^ or one tiling, the President will
probably come over again some
fhie day in January or February!
vnf h a message dealing with the
object of trust regulation. That
ont ' subject will likely provide
sufficient grist to keep the legis
lative mill humming for several!
weeks. Then there is the AI ask -
an railroad bill, some general con
servation legislation and a half
dozen other matters of almost e-i
;qnal importance all in all, 1 sus-!
pect that we will celebrate thej
next glorious fourth right lu re on i
the banks of the Potomac and will j
A "s>«t imm u.e bnnci.j
. I,ere °" tll(> j" 1, S, " te most j
, " anKS ot . Uie ™ tomac wlU
",? p surprised if the torrid days
0 another August find the bunch
of the stales of the union have pri
mary election laws for the selee-;
tion of candidates for congress and |
United States Senator are to he;
chosen by popular voie, there will \
be a lot of mighty restless slates
uieu toiling and sweating away
here in Wft8hi,, 8 ton in "'idsnmm-1
ter while the boys who would like:
to succeed them are industriously
wielding some wire cutters on any
number of excellent political
fences "back home.'
Congressman Tom Stout.
p ro » rum
Slind8jf» tldflU3ry ■ 4tflj
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