Every evening, Wilmington daily commercial., 1920-12-07
NATION CANNOT REFUSE
Continued from pn3e 1

tion of individuals to make laws which will
overburden him or which will destroy his
equality among his fellows in the matter of
right or privilege, and / think we all
realize that the day has come when do
mocracy is being put upon it's final test.
Tho old world is Just now suffering from
wanton rejection of the principle Of de-
mocracy and substitution OF tho prin-
ciple of autocracy as asserted in the name
but without the authority and sanction
of the multitude.
This is the time Of all others when de-
mocraoy should prove it's purity and it's
spiritual power to prevail. II is surely the
manifest destiny of tho United States to
lead in the attempt to make this spirit
prevail. There are two ways IN which the
United States can assist to accomplish
this great object.
First, by offering the example within
her own borders of the will and power Of
democracy to make and enforce laws which
are unquestionably just and which are
equal IN their administration-laws which
secure its full right to labor and yet at the
same time safeguard the integrity of
property and particularly of that property
which is devoted to the development of
industry and the increase OF the neces-
sary wealth of the world.
Second, by standing for right and justice
as towards individual nations. The law of
democracy is for the protection of the
weak, and the influence of every demoo-
raoy in the world should be for the pro-
lection of the weak nations, the nation
which is struggling toward its right and
toward its proper recognition and privilege
IN the family of nations. The United
States cannot refuse this role Of champion
without putting the stigma of rejection
upon the great and devoted men who
brought its government into existence and
established 1t in the face of almost uni
vcrsal opposition and intrigue, even in the
face of wanton force, SIS for example
against the orders in council Of Great
Britain and the arbitrary Napoleonic
DEGREES which involved US in what we know
as the war of 1912.
| urge YOU 10 consider that the display
Of an immediate disposition on the part
OF the congress 10 remedy any injustices
or evils that may have shown themselves
in our national life will afford the most
efectual offset to the forces of chaos and
tyranny which are playing so disastrous q
part in the fortunes Of the free peoples of
more than one part of the world.
The United States is of necessity the
sample democracy of the world and the
triumph of democracy depends upon ts
success.
Recovery from the disturbing and
sometimes disastrous effects of the late war
has been exceedingly slow on the other
side Of the water and has gwen promise, |
venture TO say, Of early completion only
in our fortunate country; but even with us
the recovery halts and Is impeded AZ
times and there are immediate serviceahle
acts of legislation which il seems TO me we
ought 70 attempt TO assist that recovery
and prove the inde>tructible reouperatiye
force of great government of tho people.
One Of these IS To prove that a great de-
mocracy can keep house as successfully
and in as businesslike fashion as any
other government.
Il seems 20 me thst the first step
towards proving this is 20 supply our
-elve- with systematic method Of
handling our estimates and expenditures
and bringing them 70 the point where
thev VIII not be sn unnecessary strain
upon our income or necessitate unressOn-
able taxation. in sother words workable
budget sy.tem. and ! respectfully suggest
that two elements are essential 70 such
q system; namely, not onIy tnst tae pro-
posal OF appropriations should be IN the
hands q single body sucn sc a single
appropriations committee IN each house
o. the cong ess but also that this body
should be brought into such corporation
with the departments of the COVE nment
and with the trea~ury OF the United
States as wou d enable il 70 act upon a
complete ocnspectus OF the needs Of the
government and the resources from which
il must draw It's income.
| reluctantly vetoed the budget bill
passed by the last session OF the Congress
because Of a Constitutional objection
The House of Representatives subse-
quently modified the bill In order 10 meet
this objection. In the revised form | be
lieve that the bill. coupled with action al
ready taken by the Congress 70 revise Us
rules and procedure. furnishes the founda-
tions for an effective national budget
svstem I earnestly hope therefore that
one Of the first steps taken by the present
session OF the Congress viii be 10 pass the
budget bill
The nations finances have shown mark
ed improvement during the past year. The
total ordinary receipts Of S6,694 900 900
for the fiscal wear 1920 exceeded those for
1919 by 81 .542, 100000, while the total
net ordinary expenditures decreased from
slS.5I4 600, 900 to So 403, ,O00,0 900 The
gross public debt. which reached its high
est point on August 81 1919, when it was
8.596, 900. 0S0, had dropped on Novem-
Der 30, 1920. TO S24, IFS, 900 900. There
has also been a marked decrease in hold
ings of government war securities by the
banking instit ltions Of the country, as well
as IL the amount Of bills held by the FEEDER
al Reserve banks secured by government
war obligations. This fortunate result
has relieved the banks and left them freer
to finance the needs of agriculture, in
dustry and commerce. 1t has been due in
large part 20 the reduction Of the public
debt, especially Of the floating debt, but
more particularly to the improved dis
tribution Of government securities among
permanent investors. The cessation of the
government borrowings, except through
short term certificates Of Indebtedness,
has been matter Of great consequence to
the people Of the country at large, as well
as TO the holders of Liberty bonds and
Victory notes, and has had an important
bearing on the matter of effective credit
control.