New-York tribune., 1920-09-12

sought to encourage business enter
prise. 1t believes that thereby it
ministers to the welfare Of all the
people in the only effective way.
-. for the promotao:, Of the business
l!fe of the nation, for it's success.
there is needed a combination Of
money, materials and men.
Morale Most Important Factor
There is fourth factor, most i'm
portant Of all, which they call in mill
tary life morale. 1t is represented in
civil life by confidence in part; by that
indescribable element which we call the
American spirit. 1t is the spirit of
independence, of courage, Of self-asser-
tion and high ambition. 1t has been
the requirement of every man to do his
best. That spirit must still prevail, in
shop and factory, in mine and bank, on
the farm and on the railroad. 1t must
prevail In the administration Of our
government. There must be sufficient
courage there to mobilize and supply
the credits necessary for the transac-
tlon OF the business of the nation.
There must be continuance of the
assurance that the source of the Amer
lean spirit, which is to large extent
the knowl ledge that there will accrue
TO those in high places and in low
places the just<rewards of their own
efforts, will not be destroyed by un-
equal laws and unwise saxation.
In modern business the fundamen-
tai requirement is transportation. 1t
IS OF little use to produce materials,
wShether from agriculture, from the
forest or the earth, or the manufacture
ing plant, unless they can be trans
ported to the market and distributed
to the consumer. The war soon re-
vealed the weakness and inadeuuacy
of the railroads of the nation as y
whole. They were not only unable, but
IN some cases it would have been a.
CRIME under the restrictive laws which
pound them to manage their business
IN the most effective way. The gov
ernment took over their MANAGEMENT
and control. 1t is claimed that this
action cost the American people more
than three billions of dollars, and the
end is not yet. But it had to be done,
and we did it.
Praises Transportation Act
The time came for return of the
railroad property TO it's owners That
was accomplished by the transportation
act of the present year. Undoubtedly
1T is not perfect and experience will
u,
constructive piece of legislation, in
tended and suited to provide needed
facllities of transportation on a sound
basis, 1T cannot be too highly COM
mended: 1t strives to be fair alike to
stockholder, to shipper and to en-
ployee. To appreciate the magnitude
of the problem it is only necessary to
remember that the value of the prop
erty dealt with was 2O,OO0,O 900 900, and
that directly and indirectly the result
aHects every lnhabitant of the nation.
Tins property has been restored to
ITS owners and what is believed to be
adequate revenue provided for it's sup
port and enlargement. If this proves
true, the final effect on the business of
the nation will be tremendous We are
suffering in New England because of
inabillty to move coal, materials for
buildings and highways, raw and
finished products. Not only is that on
the way to remedy, but because of the
contaglon of prosperity if the great
business of transportation is prosper
Gus it will bring of necessity PROSPER
lty to SO many enterprises that GEN
eral prosperity will abound This has
always been Republican policy.
Extravaganza Must Be Ended
DuI HeIViiei constitutional govern
ment, or we'll ordered liberty, or sound
banking, or the American spirit, or
good railways can insure our material
prosperity unless there can be an end
to both public and private extrava-
gance: The waste of public money dur
ing the last few years surpasses the
imagination. 1t was passed over in
silence during the war. Congressional
investigation has revealed that millions
were spent with only negative results,