Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-10-15
PEACE ASSURED
ONLY THROUGH
PACT-M'ADOO
Opens Indiana Tour at Elk
hart-TO Be Here
Saturday.
STRESSES WAR DEBTS
Bx stan Correspondent.


EN- ROUTE WITH WILLIAM GIBBS
McADOo IN INDIANA, Oct 15--Peaee
with a guarantee of security such as
win enable all people again to devote
themselves to productive enterprises un-
der conditions of safety cannot be had
unless the great powers Including the
United States, are associated together IN
der the provisions of the League Of Ma
tions, William Gibbs McAdoo declared In
a speech at Elkhart today, opening his
Indiana tour In behalf Of the candidacy
Of James NJ. Cox.
Mr.. MeAdoo is making a two-day to1r
which VIII carry him into South Bend.
Laporte, Indianapolis, Frankfort and
other cities.
The Indianapolis address will be mads
in Tomlinson Hall at o'clock tomorrow
afternoon.
WORLD NATIONAL DEBT
NOW ENORMOUS.
Mr.. McAdoo in his address at EIkhart
spoke Of the effect reduction and nmita-
tion of armaments win have on world
finance.
"The national debt Of the chief bel
ligerents Of the late war, including the
United States. is now estimated S23S 500,-
900, coo. sum so stupendoue that 1t Is
difficult for the human mind to grasp
it," he said.
AT a moderate rate Of interest, per
cent and with q sinking fund Of per
cent per annum, the annual service Of
this debt is sIf,31o Oo0, 900.
This colossal annual charge win
sorely tax the resources Of every bellig-
erent in the late war
Even the United states, with all Of its
resources and with less debt per capita
~ fhA To-
carrying a tremendous burden Of war
debt, the full weight Of which our tax
payers are now beginning to feel.
"Our national budget is approximately
5000 OOO,o coo per annum."
Mr.. McAdoo referred to this as .
striking proof Of wars wastefulness-
He said he did not see how people
could blindly and fatuously oppose the
league while they are grosning under
the burden Of taxation. the result of war.
SAYS BIG ARMAMENTS
KEEP TAXES HIGH.
"The only way a reduction in taxation
can be effected is to get rid of the ex-
penditures required for unnecessary mill
tary armaments,' he said.
The nations OF Europe owe the Amer
lean people more than ten billion dollars
for money loaned 70 aid in prosecuting
'In recent speech, Senator Harding
intimated that he would rather see this
ten billion dollar debt cancelled or for
given our foreign debtors than allow them
TO work it out through exchanges Of
goods and commodities.
''The Democratic party Is opposed to
such a policy.
1T IS for peace through the League OF
Nations and for the prevention Of war by
every possible peaceful means.
1T Is against universal conscription in
peace time.
1T is against the policy OF hugo
armies and navies when we can get rid
of them by Joining a League OF Ma
tions.
The issue between the Democratic
party and the Republican party is sharp
and unmistakabie. and every man and
woman who votes in November must un-
derstand that a vote for the Republican
party is vote against the League OF
Nations
If the United States Joins the League
Of Nations, thereby giving 1t greater
power for human service, we may. con-
hdently expect cessation of wars, re-
auctions Of armaments, an end to con-
scription and constant improvement In
the condition OF the human race through
enormous increases in the productive
power, wealth, prosperity and happiness.
Of peoples everywhere.' i