Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1920-07-03
credits and in large degree to con-

credits and in large degree to con-
scienceless profiteers.
The Republican party is responsible
for the failure to restore peace and
peace conditions in Europe, which is
principle cause of post -armistice
imitation the world over. 1t has de-
MED the demand of the President for
necessary legislation to deal with
secondary and local causes. The
sound policies pursued by the treas
ury and the Federal Reserve system
have limited in this country. though
they could not prevent the imitation
which was world wide. Elected upon
promises to- curtail public expendi-
lures and to bring the country back
to a status of effective economy, the
Republican party in Congress wasted
time and energy for more than a year
in vain and extravagant investiga-
tons, costing the tax payers great
sums of money, while revealing moth
ing beyond the incapacity of Repub-
lican politicians to cope with the
ident, from his place at the peace
table. call the congress into extra =
ordinary session for imperative pur-
poses of readjustment, the Congress
when convened, spent 10 months in
partisan pursuits, failing to repeal a
single war statute which harassed
business or to initiate a single con-
Cfr1rofiyya y,on 70 LaI
busted itself making prediction
record of pretended thrift, having not
one particle Of substantial existence
in fact. 1t ragged against profiteers
and the high cost of living without
enacting a single statute to make the
former afraid or doing a single act to
bring the latter within limitations
The simple truth is that the high
cost of living can only be remedied
by increased production, strict gov
ernmental economy and a relentless
pursuit of those who take advantage
of postwar conditions and are de-
handing and receiving outrageous
profits.
We pledge the Democratic party to
a policy of strict economy in govern
ment expenditures and to the enact
ment and enforcement of such legis-
lation as may be required to bring
profiteers before the bar of criminal
justice.
The Tariff
We reaffirm the traditional policy
OF the Democratic party in favor of
tariff for revenues only and to con-
firm the policy of basing tariff revi-
sions upon the intelligent research
OF a non-partisan commission, rather
than upon the demands of selfish in
tereSts, temporarily held in allowance
Budget
In the interest of economy and
good administration, we favor the
creation of an effective budget sys-
tenn that will function in accord with
the principles of the constitution. The
reform should reach both the eXecu J.
tive and legislative aspects of the
question. The supervision and pre-
paration of the budget should be
vested in the secretary of the treas
ury as the representative of the Pres
ldent. The budget. as such, should
not be increased by the Congress ex-
cept by a two-thirds vote each
House. however, being free to exer-
else its constitutional privilege of
making appropriations through indie
pendent bills. The appropriation bills
should be considered by single com
mittees of the House and Senate. The
audit system should be consolidated
and its powers expanded so as to pass
upon the wisdom of, as well as the
authority for. expenditures.
A budget bill was passed in the
closing days of the second session of
the 18th Congress, which. invalidat-
ed by plain constitutional defects
and defaced by considerations of
patronage, the President was obliged
to veto. The House amended the
bill to meet the executive objection,
we condemn the Republican Senate
Tor adjourning without passing the
amended measure, when by devoting
an hour or two more to this urgent
pupllc, business a budget system
could have been provided.
Senate Rules
We favor such alteration of the
rules of procedure of the Senate of
the United States as will permit the
prompt transaction Of the nation.s
legislative business.
Agricultural Interests
To the great agricultural interests
or the country the Democratic party
does not find it necessary to make
promises. 1t already is rich in it's
record of things actually accom-
plished. For nearly half a century
OF Republican rule, not a sentence
was written into the Federal statutes
affording one dollar to bank credits
to the farming interests of America.
In the first term of this Democratic
the national bank act
was SO altered as to authorize loans
of five years maturity on improved
farm lands. Later was established
a system of farm loan banks from
which the borrowings already exceed
$500, 100000 and under which the in
terest rate to farmers has been SO
materially reduced as to drive out of
business the farm loan sharks who
formerly existed by eXtortion upon
the great agricultural interests of
the country.
Thus it was Democratic Con-
gress In the administration of a
Democratic President which enabled
the farmers of America for the first
time to obtain credit upon reason
able terms and insured their oppor.