OCR Text |
Show King LaudsDemocraGy dicing support 01 Presldcnt R" hls ?!ew Dheal" tole-i in PubUc Rddress her? William H, King termed Sfdnwntog political fight one in hich "reactionary Republicanism Z be aligned against the progressive pro-gressive policies of the President." SL address was delivered Monday '' nlRe In the North ward chapel. ,t a meeting which was preceded L a public high school band concert con-cert under direction of A. B. Lar- ""ffoodrow Wilson w defeated m reactionary Republicanism and misrepresentation cf his policies," declared Senator King. "The same sort of for0 wilJ seek to ou':t from office the great leader who is now directing - the . destinies . cf. our nation." na-tion." Criticizes G. O. P. Administration,' Criticising, the preceding administrations admin-istrations for . countenancing th "vast. orgies of spending and speculation" spec-ulation" which culminated In the. economic debacle of October, 1929, the. speaker said that Roosevelt was swept. into, office on the eve. of an incipient revolution largely induced in-duced by the follies of republicanism. republican-ism. "The'-New Deal which he inaugurated inaug-urated was an about face, n repudiation repud-iation of the reactionary policies of the Republican , party. President Hoover was a good man, who want ed to do the right thing, but who didn't know how. Due to the environment en-vironment in which he lived for scma years, he understood the British not the American psychology psychol-ogy and his methods if continued would have brought inevitable ruin." Acclaims . President's Money Policy Senator King was loud in his acclaim ac-claim of. the . President's monetary poUcy,.. asserting that. His steizme of, the nation's gold and closure of Its. banks: shortly after, he first assumed as-sumed office probably forestalled serious trouble, and predicting that prosperity will return to the. nation due to the nationalization of sliver. sli-ver. "Nature seems) to have provided about 14 ounces of silver to one of gold," he said In reviewing the history his-tory of blmettalism. "People of ancient an-cient times fixed a ratio of 16 to 1 or 14 to 1 as between silver and sold. The Caesars set the ratio at 12 to 1. "So it came on down until 181G. At that time the great Napoleonic wars were on. The Rothschilds, financial fi-nancial barons cf England who had loared vast sums of money to the belligerents, induced their country to demonetize silver so that th2 cold due them would be made more valuable, and would buy more . in commodities.- England First Demonetizes Silver "England had no cotton, no tin, no rubber nor other raw materials which she needed in order to be a great manufacturing country. By cheapening commodity prices she was more easily able to obtain these raw goods, and to cheapen commodities com-modities she demonetized silver. "This act within five years had Rreatly cheapened prices, lowered wage levels and made money much dearer. Germany followed England's example following the Franco-Prussian Franco-Prussian war and France was forced forc-ed to do the same later. "Finally America too took the .'ame step. Bryan became the. silver sil-ver advocate, and when he was de-ieatd de-ieatd in 1896 the people said that was the end of bimetallism. Hope fcr Its return was definitely abandoned aband-oned until , about three years ago. Can Now Hope for Prosperity "Npw that the President has nationalized, na-tionalized, silver, we can hope for a return,' of prosperity, for having two reservoirs of money to. draftv from instead of one, we will be far better able, to carry on our business tranaqtlons than before.. Prices will rise, and this will make for, increased, in-creased, prosperity in this and other oth-er countries." The Senator outlined in some detail his. own part in bringing about the passage by Congress of the recently enacted silver legislation legisla-tion which places that metal on a definite ratio with gold. He pointed tut that Utah and other western Miir.g states will soon benefit ?s result of the step recently taken OS Roosevelt in conformity with the Congressional act. He predicted that Sanpete would soon get federal support for the Gooseberry reservoir project, if the differences with Carbon1 interests inter-ests cculd be proprly disposed of. His address was warmly received Dy those at the meeting, which was Presided over by Mayor Ed. Johnston. |