New-York tribune., 1920-02-21

ment OF industry as an integral part
vi .he nations prosperity.
:, me government may properly takc
tne initiative in establishing this
sum'nistrative machinery, but to
aliay industrial unrest, to establish
harmonious relations between EN-.
pioyer and employed, and to bring
s,oot a"oot an increasing recognition Of
/ the solidarity of their interests. re-
course must bo had to private mi.
tlative and to the patriotism and
commonsensc of both employers and
employed, who are first Of an Amer
lean citizens.
I o them must be assigned the sol
smn outy OF removing the causes OF
ihaustr'al warfare and of jointly es-
taollshing cooperation and truly
oemocratIc principles in the organ
'2ation and conduct of industry.
Immediate Revision
OF Taxation System
THE HIGH COST or LIVING. Tho
high cost of living presses upon
every individual and every home. In
creased production. stimulation of
enterprise, checking OF private cx-
travagance and waste and the reduc-
tion OF public expenditures are ma
'iohal necessity. In this every citi-
zen and every household can help
Our system of taxation and of busi-
ness regulation should be immedi-
ate'y revised. with the definite pur-
pose to promote rather than to pre-
vent enterprise and production.
In the making Of our laws VIC need
more knowledge and understanding
nc l..
as we'll as an honest purpose to raise
revenue and fairly to distribute the
burden of government. instead Of a
purpose to punish or penalizc some
group or section. ESPIONAGE over
private industry and the country's
business should be at once abolished.
All emergency war legislation, so
Tar as it relates to business and en-
terprlse, should be repealed. form
of control which is bearablc in war
becomes tyranny in peace. The in
dustries Of the country are still ham
pered and cramped and the cost of
living advanced as the effect of
emergency wartime legislation
High Prices Result
Of Initiation Of Values
An underlying cause of rising
prices, far more important than all
other causes combined, is the exist
ing imitation of currency and bank
credits. Every additional bank loan
that is granted without any CORE
spending increase in the existing
goods that may be purchased Gre
ates fresh competitive demand for
goods, and thus raises prices.
Rising prices resulting from nfa-
ton have cut in two the purchas-
ing value of every savings bank ac-
count, have halved the protection In
every insurance policy, and have re-
duced the value of the income that
thrifty people have received on
every investment or contract which
calls for the payment of money
NATIONAL BUDGET AND BUSI-
NESS ADMINISTRATION OF GOV
ERNMENT: We urge the prompt
passage of legislation to authorize
a national budget. The Congress
will then become the constructive
critic of the Presidents policies and
the people will be able to hold both
the President and the Congress re-
sponsible for their action or failure
of retrenchment is not to appropri-
ate public moneys.
proper budget will enable both
the Congress and the people to un-
derstand clearly for what purposes
the public moneys are being spent
and at what point retrenchment is
either necessary or practicable. The
lnordlnate extravaganza Of the pres
ent Administration calls for most
emphatic rebuke.
Principle of Protection
AS National Policy
FOREIGN TRADE: The United
States has become a creditor nation
and large exporter of manufactured
goods. For q considerable period of
years it must be paid for it's loans
and its exports wholly in goods. I'm
der these circumstances exclusion
of imports necessarily means the
limitation or discontinuance of ex-
ports.
While this fact may lead to some
temporary modification Of our tariff
policy, pending the restoration of a
normal balance of trade, the prin-
ciple OF protection must be retained
as a national policy not only for
use in maintaining American stand
ards of labor and industry when pres
ent conditions change, but in order to
insure the nations economic independ-
ence and its capacity to produce with
in its own limits those supplies which
the war has shown to be necessary
both for the subsistence and for the
defense of the people.
RAILROADS.: We are absolutely
opposed to government ownership Of
the railroads and to tho so-called
Plumb plan for their management.
The transportation OF the country
should be privately owned and pr-
vately managed under strict govern
ment regulation that will insure the
lowest possible rates to passengers