of other business men in the money market. We have successfully regulated speculation in "futures" and established standards in the marketing of grains. By an intelligent Warehouse Act we have assisted to make the standard crops available as never before both for systematic marketing and as a security for loans from the banks. We have greatly added to the work of neighborhood demonstration on the farm itself of improved methods of cultivation, and, through the intelligent extension of the functions of the Department of Agriculture, have made it possible for the farmer to learn systematically where his best markets are and how to get at them.

The workingmen of America have been given a veritable emancipation, by the legal recognition of a man's labour as part of his life, and not a mere marketable commodity; by exempting labour organizations from processes of the courts which treated their members like fractional parts of mobs and not like accessible and responsible individuals; by releasing our seamen from involuntary servitude; by making adequate provision for compensation for industrial accidents; by providing suitable machinery for mediation and conciliation in industrial disputes; and by putting the Federal Department of Labor at the disposal of the workingman when in search of work.

We have effected the emancipation of the children of the country by releasing them from hurtful labour. We have instituted a system of national aid in the building of highroads such as the country has been feeling after for a century. We have sought to equalize taxation by means of an equitable income tax. We have taken the steps that ought to have been taken at the outset to open up the resources of Alaska. We have provided for national defense upon a scale never before seriously proposed upon the responsibility of an entire political party. We have driven the tariff lobby from cover and obliged it to substitute solid argument for private influence.

This extraordinary recital must sound like a platform, a list of sanguine promises; but it is not. It is a record of promises made four years ago and now actually redeemed in constructive legislation.

These things must profoundly disturb the thoughts and confound the plans of those who have made themselves believe that the Democratic Party neither understood nor was ready to assist the business of the country in the great enterprises which it is its evident and inevitable destiny to undertake and carry through. The breaking up of the lobby must especially disconcert them; for it was through the lobby that they sought and were sure they had found the heart of things. The game of privilege can be played successfully by no other means.

This record must equally astonish those who feared that the Democratic Party had not opened its heart to comprehend the demands of social justice. We have in four years come very near to carrying out the platform of the Progressive Party as well as our own; for we also are progressives.

There is one circumstance connected with this programme which ought to be very plainly stated. It was resisted at every step by the interests which the Republican Party had catered to and fostered at the expense of the country, and these same interests are now earnestly praying for a reaction which will save their privileges,-for the restoration of their sworn friends to power before it is too late to recover what they have lost. They fought with particular desperation and infinite resourcefulness the reform of the banking and currency system, knowing that to be the citadel of their control; and most anxiously are they hoping and planning for the amendment of the Federal Reserve Act by the concentration of control in a single bank which the old familiar group of bankers can keep under their eye and direction. But while the "big men" who used to write the tariffs and command the assistance

of the Treasury have been hostile,-all but a few with vision, the average business man knows that he has been delivered, and that the fear that was once every day in his heart, that the men who controlled credit and directed enterprise from the committee rooms of Congress would crush him, is there no more, and will not return,—unless the party that consulted only the "big men" should return to power, the party of masterly inactivity and cunning resourcefulness in standing pat to resist change.

The Republican Party is just the party that cannot meet the new conditions of a new age. It does not know the way and it does not wish new conditions. It tried to break away from the old leaders and could not. They still select its candidates and dictate its policy, still resist change, still hanker after the old conditions, still know no methods of encouraging business but the old methods. When it changes its leaders and its purposes and brings its ideas up to date it will have the right to ask the American people to give it power again; but not until then. A new age, an age of revolutionary change, needs new purposes and new ideas.

In foreign affairs we have been guided by principles clearly conceived and consistently lived up to. Perhaps they have not been fully comprehended because they have hitherto governed international affairs only in theory, not in practice. They are simple, obvious, easily stated, and fundamental to American ideals.

We have been neutral not only because it was the fixed and traditional policy of the United States to stand aloof from the politics of Europe and because we had had no part either of action or of policy in the influences which brought on the present war, but also because it was manifestly our duty to prevent, if it were possible, the indefinite extension of the fires of hate and desolation kindled by that terrible conflict and seek to serve mankind by reserving our strength and our resources for the anxious and difficult

days of restoration and healing which must follow, when peace will have to build its house anew.

The rights of our own citizens of course became involved: that was inevitable. Where they did this was our guiding principle: that property rights can be vindicated by claims for damages when the war is over, and no modern nation can decline to arbitrate such claims; but the fundamental rights of humanity cannot be. The loss of life is irreparable. Neither can direct violations of a nation's sovereignty await vindication in suits for damages. The nation that violates these essential rights must expect to be checked and called to account by direct challenge and resistance. It at once makes the quarrel in part our own. These are plain principles and we have never lost sight of them or departed from them, whatever the stress or the perplexity of circumstance or the provocation to hasty resentment. The record is clear and consistent throughout and stands distinct and definite for anyone to judge who wishes to know the truth about it.

The seas were not broad enough to keep the infection of the conflict out of our own politics. The passions and intrigues of certain active groups and combinations of men amongst us who were born under foreign flags injected the poison of disloyalty into our own most critical affairs, laid violent hands upon many of our industries, and subjected us to the shame of divisions of sentiment and purpose in which America was contemned and forgotten. It is part of the business of this year of reckoning and settlement to speak plainly and act with unmistakable purpose in rebuke of these things, in order that they may be forever hereafter impossible. I am the candidate of a party, but I am above all things else an American citizen. I neither seek the favour nor fear the displeasure of that small alien element amongst us which puts loyalty to any foreign power before loyalty to the United States.

While Europe was at war our own continent, one of our

own neighbours, was shaken by revolution. In that matter, too, principle was plain and it was imperative that we should live up to it if we were to deserve the trust of any real partisan of the right as free men see it. We have professed to believe, and we do believe, that the people of small and weak states have the right to expect to be dealt with exactly as the people of big and powerful states would be. We have acted upon that principle in dealing with the people of Mexico.

Our recent pursuit of bandits into Mexican territory was no violation of that principle. We ventured to enter Mexican territory only because there were no military forces in Mexico that could protect our border from hostile attack and our own people from violence, and we have committed there no single act of hostility or interference even with the sovereign authority of the Republic of Mexico herself. It was a plain case of the violation of our own sovereignty which could not wait to be vindicated by damages and for which there was no other remedy. The authorities of Mexico were powerless to prevent it.

Many serious wrongs against the property, many irreparable wrongs against the persons, of Americans have been committed within the territory of Mexico herself during this confused revolution, wrongs which could not be effectually checked so long as there was no constituted power in Mexico which was in a position to check them. We could not act directly in that matter ourselves without denying Mexicans the right to any revolution at all which disturbed us and making the emancipation of her own people await our own interest and convenience.

For it is their emancipation that they are seeking,blindly, it may be, and as yet ineffectually, but with profound and passionate purpose and within their unquestionable right, apply what true American principle you will,any principle that an American would publicly avow. The people of Mexico have not been suffered to own their own