ORGANIZATION
ALWAYS STANDS
FOR PROGRESS
President Reviews Achieve
ments of Past in Speech ,
Of Acceptance
'Washington, *1- H. B.)—
The full teat of rresiflent Coolldge’s
address, accepting the republican
nomination for the presidency and
delivered here Thursday night, fol
lower
"The Chairman, members of the
committee, Ladles and Gentlemen:
"Tou bring formal notice. Mr,
Chairman, of a nomination for pres
ident of the United States. Our sys
tem of nominations is not the out
come of chance. It le the product of
experience. Very early In their eeareh |
for a sound method of self govern
ment, the American people discovered
that the only practical way to secure
responsible political action was by
the formation of parties, which they
>adopted because reason pronounced j
It the most promising, and continued
because practice found It the most
successful.
"Underneath and upho.dlng political
parties was, and Is, the enduring
principle that a true cltlsen of a real
republic can not exist as a segregated,
unattached fragment of selfishness,
but must live as a constituent part
of the whole of society, In which he
•an secure hie own welfare only ae
he secures the welfare of his fellow
men.
“Always Progress, If—
"Warty means political co-opera
tion, not as an end In Itself, but a
means, an Instrument of government.
If founded upoi.\ a great moral prin
ciple and directed with scrupulous
iregard for Us Integrity, It can not
fall to sweep onward and upward,
advancing always steadhy and surely,
a mighty constructive force, a glori
ous hearer of progress.
"That is what the republican par
ty always has been and is today. In
full faith, that sucji it will con
tinue to be, deeply eoneeioua of
the high honer it confers and the
responsibility it imposes, I accept
Ita nomination fer president of
the United Ststn.
"In the history of our country Is
recorded the public services rendered
by our party for more than three
score years. That Is secure. I pa»s
•a to the recent past and tha present.
Recall* Conditions In 1921.
•*It Is easy to forget, but the Im
pression which the condition of our
country In March, 1#21, made upon
the people was so deep, so vivid, so
alarming, that It will not soon pass
away. Over two years after tha arm
tatloe we were at 111 technically In a
state of war. We had no dtplomatlo
Relations with Turkey, Greece. Russia,
Columbia, or Mexico, and the Far
Bast was causing grave npprehen
•lona In raising and expending for
9rar a vast amount of money a reck
less extravagance had come to cliar
aeterlie the administration of public
affairs and was all too prevalent In
private life. An enormous deht had
been contracted, then standing at (
about *24.000.000.000, of which more
than *7,000,000.000 waa In short tlm«
obligations without any provision for
payment. Government bonds were
far,below par. The high war time
taxes still burdened the people.
“Demobilisation and llquldatton
remained to bo eomplotod. Hugo
accounts with tho railroads woro
atill unsottlod. Transportation
was cripplod. Ovor *11,000,000,
000 of unliquidated debts wore
duo to uc from foreign countries.
Tho whole people woro suffering
from a tremendous deflation. Our
banks woro filled with froson Bl
asts, and everywhere aouto finan
cial distress ax»a*od. Intoroat was
high. Capital waa acarco. Ap
proximateiy 6,000,000 people wore
without employment. No adequate
provision had boon made, for tho
relief of disabled veterans and
their dopondonto. Thor* waa an
avatanoho of war worn peoples
and suddenly cheapened mer
chandise impending upon uo from
foreign lands. Tho groat powers
woro still engaged in burdening
their people by building eompoti
tivo armaments.
“This staggering array Indicates
some ot the major problems af this
administration. Perhaps in no peace
time period have there been mare re
markable and constructive accom
plishments than since March, 18*1.
We have ratified separate treaties of
world wide Importance with Germany,
Austria. Hungary, Columbia, and
Mexico. Forty-two other treaties
have been approved by the Stnala
and six treatlea are now swatting
its action. Friendly Intercourse has
bean resume* with Turkey and
Greece, end we hero established our
rights and Insured peace In tha Far
Kaat and the Pacific ocean. Our
foreign rolatlona have bean handled
with a technical skill and a broad
statesmanship which has seldom, if
aver, boon surpassed.
Teuehee Budget System
"In the domain of finances a budget i
ayatem was promptly enacted and !
put Into operation, resulting In tre
mendous savings. For the fiscal year |
ending June 80. 1821. our expend!- j
turas were $5,588,000,080, and our J
surplus was $88,000,000. For the year
just closed our expenditures were
$8,487,000,000. and our surplus exceed- |
ad $500,000,000. This was a reduction
tu the annual cst of government of ■
$2,041,000,000. The public debt now
stands at about $21,250,000,000. which
is a reduction in three years of about J
$2,710,000,000 and means an annual i
saving In Interest of more than $120.- j
OvO.OOO. The $7,000,000,000 of short |
time obligations have all been gutetiy |
refunded-oj* paid. The Internal re
veune taxes have been reduced twice,
and many of them repealed, so that
during the present fiscal year the tax
receipts will show a saving to the
people of approximately $8,000,000, a
day oempared with 1821. On# gov
ernment bond has sold well over 108.
"More than 40 per ce*i- of the
4
amount , of debts due us from foreign
countries has been liquidated, and will
provide funds for the retirement" Ot
about 911,000,OOtf,000 of the principal
of our national debt in the cauree of
91 years. Thess settlements are not
only stupendous financial transac
tions, but demonstrations Of the most
profound nature Of International good
faith and the dominion over interna
tional relations of moral power. The
finances of this nation have bean
managed with a genius and a success
unmatched since the days of Hamil
ton.
Army and Navy Cripplad
"The army and navy have bssn
reduosd to p low page# time basis,
end surplus meteriefe end sup
plies converted Into ceeh. Hun
dreds of millions of eccounts
hevo boon oottlod with tho roll
roods, which hove been finenced
* without any publio expense so
that they could adequately servo
tho greatest peace time commerce
ever moved without a shortage of
oars. A great revival of industry
took piece, which Is now spread
ind to agriculture. Complaint of
unemployment hao ceased,
wages have increased. Capital
has become plentiful at e low rate
of interest and the banks of our
country, ao a whole, show a high
percentage of liquid assets.
Most generous laws tor the relief
of disabled veterans have been enj
acted, and the Veterans’ Bureau
established. More than 71,000 men
and women have been rehabilitated,
of whom over 18,000 are earning
more than they earned before the
war. Compensation Is being paid
to nearly half a million at the rate
of about 8100,000,000 a year, which
will be Increased about $80,000,000
under legislation recently passed.
Forty million dollars have been pro
vided for hospital facilities, and un
der a new law hospitals have been
opened to all the veterans of all wars,
regardless of the time or cause of
their disability. No government ever
provided so generously for those dis
abled by service In time of war.
Admits Dislike of Jap Law
"To preserve American standards
for all our inhabitants, whether they
were the descendants of former gen
erations raiding here or the most
recent arrivals, restrictive Immigra
tion laws were passed, I should have
preferred to continue the policy of
Japanese exclusion by some method
less likely to offend the sensibilities
of the Jnpanese people. I did what 6
could to minimize any harm that
might arise. But the law has been
passed and approved, and the Inci
dent Is closed. We must seek by
some means besides Immigration to
demonstrate the friendship and re
spect which we feel for the Japanese
nation.
"Restricted Immigration Is not an
offensive but a purely defensive ac
tion. It Is not adopted In criticism
of others In the slightest degree, but
solely for the purpose of protecting
ourselves. We cast no aspersions on
any race w creed, but we must re
member that every object of our In
stitutions of society and government
will fall unless America be kept
American.
Claims Tariff Bavea Farmers
“By means ef a protective tariff
we have aaved Amarican agri
culture, labor, and Wtdwstry from
tho monaco of having thoir groat
horn# markat doatroyed through
tho dumping upon it of a flood
of foreign products. Under this
wise policy wo caw an acanomie
ravival, and our people as a
whole, in marked distinction from
•ufferers from tho financial dis
traaa and depression of other lands,
have come into an ora of prosper
ity and plenty. As a aoureo of
revenue tho tariff surpassed all
oxpactationa in producing an an
nual return of tho unprocondontod
sum of about $550,000,000. A
fiscal policy which places a targe
and much naadad revanue In tha
public treasury, whila stimulating
business te a condition of
abounding prosperity, defends
itself against any criticism. Its
merits are damonatratad by Ita
results. Wo have protected our
own inhabitants from tho econo
mic dioastor of an invasion of too
many foreign people or too much
foreign merchandise.
“The people have never come to a
full realisation of the Importance of
the Washington Conference. It pro
duced the one effective agreement
among the great powers In all the his
tory of civilisation for relieving the
people of the earth from the enor
mous burden of maintaining competi
tive naval armaments. I do not be
lieve any conference ever did more to
promote the peace of the world. I
am perfectly sure that none ever
did so milch to reduce the coat of
government. By removing causes of
Irritation. In which lay the seeds
of war In the Far Fast, our own coun
try receiver incalculable benefits.
Only when that was done could dis
armament follow. What had always
before failed, then became a success.
A policy waa adopted which was more
than revolutionary. It waa sublime.
It demonstrated at laat that peace
and good will are not vain Illusions,
hut actual realtltlea. The credit for
the Inception of this epoch-making
policy, and for its practical conclu
sion. Is due to the Initiative of Amer
ican atateamanahlp.
Alibi For Corrupt Government
"Those ore some of the larger
aspects, though very Incompletely
depicted, of what this administration
has been doing to promote the wel
fare of the American people. A
surveyof the economic condition of
our country, the ihdustrtal peace
which prevails, the mighty influencs
which our moral power exerts
throughout the world all testify that
dt has not been without success.
"There ere those who would
disregard ell thia for an under
taking to convineo themselves
end others that the chief issue
of this campaign is honest gov
ernment. In all my studies of
politicol history, I can net recall
an administration which wee
desirous ef e dishonest and cor
rupt government that, for tho
purpose of chocking extravag
ance, ever undertook te introduce
a budget system, te cut down
taxes, .te purge the payrolls, to
mako enormous reductions in the '
public debt, to ley
foundations for the pose* pf the
world. That is not ths iy«y of
dis|ion«sty. The government is
sound. . But individuals charged
with wrongdoing or# being prose
cuted The pecplif of this cobn-"
try hats corruption. They know
my position. They know tho law
„wijl be enforced.. )
Invokes Aid of Grand Jury.
“Wherever there have been sus
picions of guilt, Involving members
of any party, I have caused them
to be investigated and presentation
made to the grand Jury. If the evi
dence warranted, those suspected of
crime have been indicted; and with
out favor, but without malice, they
will be tried on the charges returned
against them. Wherever It has ap
peared that the property of the gov
ernment has been illegally transferred
and held, action has been brought
for its recovery and will be purshed
to a final Judgment. No government
was ever able to prevent altogether
the commission of crime, but this
government, under my direction, la
doing the best It can to detect and
punish any and all wrongdoing. The
laws of the land are being, and will
contlnuo to be, enforced. I propose
to use every possible effort to re
sist corruption in office. The Amer
ican government must be clean.
“Many principles exist which I have
tried to represent and propose to sup
port. I believe in the American con
stitution. I favor the American sys
tem of individual enterprise, and I am
opposed to any general extension of
government ownership and control.
I believe not only In advocating econ
omy In public expenditure, but In
its practical application and actual
accomplishment. I believe in a re
duction and reform cf taxation, and
shall continue my efforts In that di
rection. I am In favor of protection.
I favor the permanent court and
further limitation of armaments. I
am opposed to aggressive war. I shall
avoid involving ourselves In the po
litical controversies of Europe, but I
shall do what I can to encourage
American citizens and resources to
assist in restoring Europe, with ths
sympathetic support of our govern
ment. I want agriculture and Indus
try on a sound basis of prosperity
and equality. I shall continue to
strive for the economic, moral and
spiritual welfare of my country.
American citizens will decide In the
coming election whether these ac
complishments and these principles
have their approval and support.
“U. 6. Cannot Be Isolated.”
“The domestic affairs of our coun
try appear to me to be by far ths
chief concern- From that source
comes our strength. The home mar
ket consumes nearly all of our pro
duction. Withlp our own boundaries
will be determined to a very large
degree the economic welfare and the
mdfal worth of the American people.
These are plain facts, but there are
others equally plain.
“America, under Providence,
haa come to be a nation of great
reeponeibility. It exiata as one
ef the family of natiene. We can
not be leolated. Other peoples
exlat aH about ua. Their aotiene
affect us, and our actiena affect '
them, whether we will or no.
Their financial condition Is net
and callnet be entirely separated
from our financial condition. But
the final determination ef aur
relationship to ether eeuntriee
riaea into a higher realm. We be
lieve m the brotherhood of man,
because we believe in the Father
hood of God. That ia our Juatl- ■
fication for freedom and equality.
We believe in the law of service,
which teaches us that we can im
prove ourselves only by helping
others. We know that these prin
ciples are applicable alike to our
domestic and our foreign rela
tione. We cannot live unto our
selves alone.
"The foreign policy of America can
best be described In one word
peace. Our actions hare always pro
claimed our peaceful desire, but never
more evidently than now. We covet
no territory; we support no threat
ening military array; we harbor no
hostile Intent. We have pursued, are
pursuing and shall continue to pur
sue with untiring devotion the cause
of peace.
Muet Avsld Entanglements.
"These Ideals we have put into
practical application. We have sought
to promote peace not only by word,
but by appropriate action. We have
been unwilling to surrender our In
dependence. We have refused to
ratify the covenant of the League of
Nations. But we have co-operated
With It to suppress the narcotic trade
and promote public health. We have
every desire to help; but the time,
the place and the method must be left
to our own determination. Under our
constitutlpn, we cannot foreclose the
right or the president, or the con
gress tp determine future problems,
when they arise. We must necessarily
proceed upon the principle of present
co-operation without future entangle
ments.
“As peace means fwndamantally
a reign ef law, wa prapaaa ta ba
. aama a member af tha Permanent
Caurt af Intarnatianal Juetiee.
Such actian weuld da muah ta
indiaata aur datarminatian ta re
strain tha rula af farce and aalid
ify and austain tha rula af raaaan
amang natiena
Appravaa Plan af Dawaa.
"We have observed with sympathy
the continuing difficulties of Burope.
We have desired to assist whenever
we could da so effectively. Late In
December, 1921, the secretary of state
announced the American plan, which
wds finally adopted. Under It the
reparations commission appointed a
committee of experts, of which three
were Americans, one of whom,
Charles <3. Dawes, was chosen chair
man. A report has been made which
received worldwide approbation and
has been accepted in principle by the
governments Interested. At a con
ference of prime ministers held to
work out the details of putting this
plan into operation, I directed the at
tendance of Ambassador Kellogg, as
sisted by Colonel Logan, to represent 1
our government. Throughout all this
course of events we helped in tha
only way we cauld help.
Ml believe the substance of the
plan ought to bo adopted. By
that tost wifi bo rovoalod
whether Europe really daairaa
«ur co-opera Ion. If Europa
should agree to this proposal,
than' a privata loan should bo
made by our citizens to Ger
many for tho financial support
of this undertaking. Tho gov
ernments interested should
make necessary concessions for
the security of such a loan. In
my opinion such action, by sta
bilizing Europa, would result In
improving our own economic
condition. But beyond that it is
tho duty of our people who
have the resources to use them
for tho relief of war-stricken
nations and the improvement of
world conditions..
"As this Is written, reports Indi
cate that the plan of General Dawes
will be adopted, and that the effort
of America baa made a tremendous
contribution to the welfare, secur
ity, and peace of the world. But I
await the event.
Would Cut Armaments Again.
"When the reparations plan is in.
operation. I shall deem it an appro
priate time to approach the great
powers with a proposal for another
conference for a further limitation
of armaments and for devising plans
for a codification of international
law. I personally should favor en
tering Into covenants for the pur
pose of outlawing aggressive war
by any practical means. Our coun
try has always been against aggres
sive war and for permanent peace.
Those who are working out detailed
plans to present such a policy for
consideration have my entire sym
pathy. I trust that never again will
the women of this nation be called
on to slcrlflce their loved ones to
the terrible scourge of war.
"We have constantly striven to
come to more complete understand
ings and Improve our relations with
Latin America. At their request we
have undertaken to compose their
difficulties. We helped the govern
ment of Mexico protect Itself
agamst domestic violence. There Is
little doubt that In extending this
asistance and the moral support
which It indicated we helped save
the people of Mexico from the ter
rors of another revolution. We also
Indicated the adoption of a policy of
making it worth while for a govern
ment so to conduct itself as to mer
it our recognition. We have secured
a written agreement with Mexico to
negotiate a treaty of amity and
commerce to replace one which was
canceled as long ago as 1881, and
Joint commissions ^’111 shortly meet
to adjust all American claims
against that country. ,
Hits Religoue Prejudices., ,
"The federal government-ought to
be, and is, solicitous for the welfare
of every one of Its Inhabitants, ev
ery one *f Its business activities,
whether they be small er great.
This Is one country; we are one
people united by common interests.
There sAould he no favorites end no
outcasts; no race or religious preju
dices In government. America op
poses special privilege for anybody*
and favors equal opportunity -for
everybody: It has adopted these
principles because they are the logi
cal conclusions of our ideals of free
dom. Moreover, we believe they con
tribute to our material Welfare. We
oppose the artificial supports of pri
vilege and monopoly because they
are both unjust and uneconomic.
They are not right. They do not
work. No sound and enduring gov
ernment or prosperity can rest up
on anything but the sure founda
tions of equal opportunity and Jus
tice for all.
“It is In accordance with these
principles that our government
seeks by appropriate legislation to
promote the financial welfare of all
the different groups that form our
great economic structure. The re
publican party supports the pollc"
of protection as a broad principle,
good alike for producer and con
sumer, because it knows that no
other means to prevent the lowering
of the standards of pay and living
for the American wage earner to
ward the misery scale that prevails
abroad has ever been devised. Were
such protection removed, the result
would be felt at every fireside In the
land. Our industry would languish,
factories would close, commerce and
transportation would be stagnant,
agriculture would become paralysed,
financial distress and economic de
pression would reach over the whole
country. Before we are carried
away with any visionary expecta
tion of promoting the public welfare
by a general avalanche of cheap
goods from foreign sources, Import
ed under a system which, whatever
it may bp called, la In reality free
tradp, It will he well first to count
the cost and realise just what such
a proposal really means. *
■•••ta Tariff Again.
“I am Tar protection because
It maintaine American stand
ards of living and af buainaaa,
far agriculture, Induatry, and
labor. I am in favor of tha cloo
tie previsions af aur tariff law.
I prapaaa ta administer them,
nat politically, but judicially.
Aa tha buainaaa af tha world be
comes stabilised without throw
in* all aur acanamic system in
to confusion, wa can raiac or
lower apccifia achedulea ta meat
thp requirements af a scientific
adjuatmant.
“I confess that my inheritance
arid personal experience have
brad in ma a keen interact in tha
welfare sf agricultura. .Perhaps
tha vary hardships that thaaa
who have been engaged in it
have encountered have caused It
ta ba the chief source of that
independence an«- stalwart citi
sonahip which has contributed
lavishly ta the glory of Ameri
can life. It constitutes an ele
ment in our nation of such im
portance as to be worthy of the
utmost solicitude and concern.
One af our first thoughts in 1921
was for its relief and revival. As
many as 15 laws have been
passed to assist and support
this fundamental industry.
Through the War Finance Cor
poration it has boon extended
credits of between $900,000,000
and $400,000,0001 .In addition to
this, government activity (ero
i . . ■ .
vided about (90,000,000 from
private aourcoa for tho rouor of
the cattle industry, and in tho
early spring of this year a (10,
000,000 corporation was formed,
which it was estimated could
furnish (100,000,000 for diversi
fication' and financial relief in
tho northwest. The Intermedi
ate Credit Banks have loaned
over (86,000,000 to individuals
and co-operative marketing as
sociations, which assisted di
rectly and indirectly over 600
000 farmers.
Admits Farmers Lose Heavily.
"Notwithstanding all this, ag
riculture was subjected to an
era of most serious depression.
Seyeral of its great staples like
cotton, cattle, hogs, corn, and
wheat, suffered from low prices,
duo to overproduction, unbalan
ced conditions between costs
and sale prices in agriculture,
industry, and labor, and the dis
organization of the markets of
tho world. .But for the enor
mous buying power which the
high wages of industry put be
hind the market for American
food products, especially meat,
the agricultural regions would
have experienced even a far
more severe financial crisis. m
"Duo to a change in the world
supply, prices of products have
begun to improve, even so far
as to increase land values. The
government rendered a great
deal of assistance and private
enterprise co-operated, but tho
fundamental remedy was pro
vided, as it always must be
provided, not so much through
the enactment of legislative
laws as through the working
out of some economic laws.
Because the farmers have thor
oughly realized this, they have on
the whole opposed price fixing by
logislation. While maintaining
that eound position, they
seen a partial relief come in a
natural way as it was bound to
come.
What Farmers Need!
“We now need In agriculture more
organization, co-operation, and diver
sification. The farmer should have
the benefit of legislation providing
for flood control and development
of inland waterways, better naviga
tion east and south from the Great
Lakes, reclamation, and especially
relief for those whe can not meet
their payments on Irrigation projects.
But the main problem is marketing.
Co-operative effort, reorganization of
the freight rate structure, good busi
ness, and good wages in manufac
turing, and the settlement of Euro
pean affairs will all help to provide
better market conditions.
"The republican platform recognizes
that agriculture should be on a basis
of economic equality with other in
dustries. This is easy to say, but
the farmers themselves and their ad
visers have nevei^ been able, to agree
on a plan to provide It by law. Nqw
that nature and econemlc |»w have
given some temporary relief,.I pro
pose, therefore, to appoint a commit
tee to investigate and report meas
ures to the congress In December that
may help secure this result which
we all desire. I want profitable agri
culture established permanently. 1
want to see the dollar of. the farmer
always purchase as much as any
other dollar.
Farmers Need Skilled Leadership
"A wise, skilled,'and unselfish lead
ership can do more than anything
else to rescue agriculture. The farmer
needs leaders who will stay with him,
who have the tact and the courage
necessary for management, and who
have the fidelity to refuse political
preferment and business opportunity.
There are such leaders. In the sacri
fices they make to serve the farmer
lies the greatest hope for his salva
tion.
"Those who toil have always pro
fited from republican control of gov
ernment. Under the policy of pro
tection and restrictive immigration
no deflation of W'ages has occurred.
While the cost of living has gone
down, wages have advanced. The 12
hour day and the 7-day week have
practically been abolished. The un
interrupted operation of public utili
ties with mutually satisfactory and
legally established methods of ad
justing labor question* have been
sought. Collective bargaining and
voluntary arbitration have been en
couraged. Republican rule has raised
the wage' earner to a higher stand
ard than he ever occupied before any
where in the world.
Recites War Evil*
"The war left us with many evils.
One result was the tremendous was
tage of wealth. The people of this
country were required to recreate
very nearly one-fifth of our national
resource*. All of this stupendous
sum has to be earned. When ao large
a part of the work of S00 years is
swept away, it is not easily recovered.
It takes all the tremendous energy
of men, of enterprise, of the vast
properties represented by invested
capital, and of material, working
through years, to repair the damage
and replace the values destroyed by
war.
“Tha anly method by which wa
cafl make up thia laaa ia by aav
ing a part af what wa produca
aach day. It will mafca tittla dif
farpnca haw much w« rpiaa an tha
farmf or hew much wa turn aut
in tha mill, if it la all uaad ar
all tha prpcaada ar* expanded.
Wa can anly aa relieved of cur
praaant private and public bur
dana by refraining fram private
and public extravagance. We
muat reeiet private and public
outlaya far which there ia no
cemmenaurate return. Thia ia
economy. Whatever anybody may
claim or aay, there ia no other
method by which the people can
rid themaelvea of thair t'emend
oua financial burdene.
Everybody Paya Taxea
“It la for that reason that the pres,
sent administration haa made every
possible effort to cut down the ex
penses of government. The country
needs every ounce of Its energy to
restore Itself. The costa of the gov
ernment are all assessed on the peo
ple. This means that tjie farmer la
doomed to provide a certain amount
of money out of tha sale of his pro
duce, mo matter how law the price,
to pay hla taxea. Tha MMufacturar.
the professional man, and the clerk
must do the same from their Income.
The wage earner, often at a': higher
rate when compared with hiii pq.fyj|
ings, makes his contribution, perhaps
not directly, but Indirectly, In the
advanced cost of everything he buys.
The expenses of the government reach
everybody. Taxes take from every
one a part of his earnings, and force
everyone to work for a certain part ot
his time for.the government.
“When we corae to realize that the
yearly expenses of all the govern
ments In this country have reached
the stupendous sum of about $7,600,
000,000. we get some Idea of what
this means. Of this amount about
$3,600,000,000 Is needed by the na
tional government, and the remainder
by local governments. Such a mim
ta difficult to comprehend. It repre
sents all the pay of 6,000,000 wag»
earners receiving $5 a day, working
300-days In the year. If the govern
ment should add on $100,000,000 of
expense, It would represent four days
more work of these wage earners.
These are some of the reasons why I
want to cut down public expense.
“Less for U. S., More for Self.*’
“I want the people of America to
be able to work less for the govern
ment and more for themselves. T
want them to have the rewards of
their own industry. That is the chief
meaning of freedom. Until we can.
re-establish a condition under which,
the earnings of the people can bo
kept by the people, we are bound to
suffer a very distinct curtailment of
our liberty.
“These results are not fanciful,
they are not imaginary; they are
grimly actual and real, reaching into
every household in the land. They
take from each home annually an.
average of over $300. And taxes must
be paid. They are not a voluntary
contribution to be met out of surplu*
earnings. They are a stern necessity.
They come first. It is only out of
what is left after they are paid that
the necessities of food, clothing and
Bhelter can be provided, the comforts
of home secured, or the yearnings of
the soul for a broader and more
abundant life gratified. When the
government effects a new economy,
it grants everybody a life pension
with which to raise the standard of
existence. It increases the value of
everybody’s property and raises the
scale of everybody’s wages. One of
the greatest favors that can be be
stowed upon the American people is
economy in government.
Sounds Economy Cry.
“Because of my belief in these prin
ciples, I favor economy that the taxe»
of everybody may be reduced. Much
has already been done. The bill which
I signed will save the people about
$1,000,000 each day. 1 watt further
tax reduction and more tax reform.
The raising of the revenue require®
to conduct our government is inti
mately connected with our economic:
welfare. If it is done by wise an®
just laws, the burden will be the
most easily borne- But if the metho®
of taxation is not sound, disaster will
follow, reaching even to financial
panic. Our first thought should be
to maintain unimpaired the activity
of agriculture and industry- That
-tax is theoretically best which Inter
feres least with business.
“Every student knows that exces
sively high rates defeat their owe
purpose. They dry up that source of
revenue and leave those paying lower
rates to furnish all the taxes. High
rates tend to paralyze business. For
these reasons I am opposed to ex
cess profits taxes and high surtaxes..
When the revenue bill of 1921 was
passed, abolishing excess profits an®
greatly reducing high surtaxes, it
was immediately followed by a re
vival in business and an increase in
the number of large incomes, so that
the government received nearly $100,
000,000 more in taxes from those hav
ing incomes of over $100,000 than
under the highest rates of the pre
vious year. But rates were still ton
high, and all kinds of business began,
to pause; agriculture especially felt
their indirect adverse effects. A new
tax bill was passed this spring car
rying still further reductions, an®
under its apparent influence them
seems to be the beginning of another
increase of prosperity. Good busi
ness is worth more to the small in
come taxpayer than a considerable
percentage of tax reduction.
The Wealthy Are Safe.
"Only about 3,500,000 people pay
direct ineome taxes. The remainder
pay, but pay indirectly. In the coat of
all purchases, from a pair of shoe*
to a railroad ticket. This country
hair at least 107,000,000 of these In
direct taxpayers. I am not disturbed
about the effect on a few thousand
people with large incomes becaus*
they have to pay high surtaxes. They
can take care. of themselves, what
ever happens, as the rich always oan.
What concarna ms Is the indirect ef
fect of high surtaxes on all the rest
of the people. Let us always remem
ber the poor. Whatever cry the dem
agogue may make about his ability^
ts tax the rich, at the end of the ytOlw
It will always be found that the peo-t
pie as a whole have paid the taxes,
We should, therefor*, have a system
of taxation under which the peopTej
as a whole are most likely to be*
prosperous. Our country will be bet
ter off If, disregarding those who ap
peal to jealousy and envy, it follow*
•n taxation and all else the straight
path of justice.
"Economy should b# practiced
scrupulously in the conduct of
a national campaign. I know it
ir difficult to distinguish between
real osrvics to ths psepls and
mars waatefutneaa. Casts have
increased by doubling ef ths elec -
torate, rendering close calcula
tion impossible.
“Nevertheless, I can perceiv*
no reason why the budget sys
tem should not bs beneficial in ■
campaign, as it has proved to bo
in government. It is to b* tested
by our committee.
Pleads Honsst Campaign.
“There should be no relaxing tf
resolute endeavor to keep our elec
tions clean, honest and free from
taint of any kigd- Only the closest
scrutiny of both the sources of con
tributions and the character of ex
penditures can accomplish this laud
able purpose. For the first time, thi*
has bsan provided for the coming
(Continued on page throat