Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1920-07-10
achieved under the brOad-visioneo lead
arship Of the president.
Financial Achievements

serve az HranIared by new system,
which insured confidence - the
Indispensable factor IN hone and
var and today it is the apT one
naL -, NJ business. lnueeu. ~
I.ifaI Danger against which tne -titi on
IAN peopie should keep cons - svs-
guard is the commltinen - rugged
fsm its PARTISAN enemies VINO 81 at
a,-a;1st its adoption ana HdIii3
a,lntsd 70 retain in the hahus 20
speculative bankers monEpo,S lion
oi,rrancy and credits OF the ~
cuILSHCS na,,ocratic leadership the
American people succesSIutIS nreatest
their stupendOus part IN tnV wisely
war Of all time. Inc u 80, meeting
- adaouata Doreion Of the wal, -
nenditure from current AXIS rnnuIar
hu}k of the balance rom AL
leans and. during the first IuLi nao
loeiLS, So Il frbting stopped. upon meet
~ current expenditures from cur enS
receipts Notwithstanding tne -Ton the
unn &c essary burdens hr"Wmctf0n and
treasury BY the delay obst Qct.oH ON
eytra rance of a Republican con-
greSs 4,-al reserye au-
-, IN noh hpHa hem wholly free OF po-
Iiticsi Interference or motive anu III
their own time and their own va
have used CourageousIy' u.s. dis
tiously the instruments atxD spei of
posal to prevent undue eAp"i'o
credit in the country. ,., +raasurv
AS a result of these sound tre t1tij
and federal reserve policies. Tue NJ HS,,t,,
IA bic war imitation has been ht!u -, 49,
t0 a minimum and the cost OF LNihs
has been prevented from lhCIe asIi -
here in proportion to me ma tr neu-
other belllgerent countries AT Iosa con
trail countries which are III ClOse 90
tact with the worlds commerce anu
exchanges. -. -. s,b+InO,
After a year and half OF hghIlmE
in Europe and despite another year
and n half of Republican obstruCtloiI
at home, the credit of the government
of the United states STANDS III
paired. the federal resSrSt n the World
and the United SASS w is tne m 1mg
a free gold market. De-
We condemn the attempt OF tHe nG
publican party to deprive the AMER
can people of their legitimate priue III
the financing of the war-an achleEeI
ment without parallel in the nnahCIal
history of this or any other countl5'
IN this or any other war. Ana, IN par
ticular, we condemn the pernlclous az
tempt of the Republican party 20 ere
ate discomfort among the holoerS OF
the bonds OF the government OF tne
| United States and to drag our puollc
finance and our banking and currency
system back into the arena Oh party
p Tax Revision.
The Republican congress persistentiy
| failed through sheer political coward
| ice, 10 make a single move TOWARD a
Tead1uSIHlenI
denounced before the last election and
was afraid to revise before the next
ELECTION, s. -s,o-m and a
searching revision OF the war revenue
acts to fit peace conditions so that the
| wealth of the nation may not be with,
| drawn from productive enterprise ana
diverted to wasteful or nonproductiVe
enterprise.
We demand prompt action by s,rt the
next congress for a complete survey
1 arnd al n
| tions and simplification with view to
secure greater equity and justice In
tax burden and Improvement in ad-
| ministration.
Public Economy.
Claiming to have effected great econ
omies in government expenditures, the
Republican party cannot show the re-
| duction of one dollar in taxation as
corollary OF this false prete Gssa In
| enacted legislation reducing taxes from
Ss,o0e, 00o. 600. designed to be raised: to
$4,000. coo; 900 for the first year n af ter
thereafter; and there the total is left
undiminished by our political adver-
saries. Two years after armisrce day
a Republican congress provides for ex-
| pending the stupendous sum Of S5.4oS.-
Affecting great paper economies by
reducing departmental estimates of
in any event. and by reducing formal
appropriations, the Republican state
ment of expenditures omits the prog
use u Of sI,soe. oeS. DOE In the hands Of
various departments and bureaus
which otherwise would have been COW
cred into The treasury; and which
tai of expenditures
Hiah Cost Of Living.
The high cost of living and the de-
pr4ciation of bond values in this coun-
try are primarily due to war itself. to
the necss: . sovernmental r eapsnai
war, to private extravagancs. to the
world shortage Of capital to the in
hation Of foreign currencies and cred
its and. in large degree. to conscience
The Republican party is responsible
for the failure to restore peace and
conditions in 81 whis is
imitation the world over. 1t has de-
MED the demand of the president for
necessary legislation to deal with sec.
ondary and local causes The sound
policies pursued by the treasury and
the federal reserve system have lin
tied in this country. though they could
worldwide. Elected upon specifc
promises to curtail public expendi-
lures and to bring the country back
Republican party. in congress wasted
time and energy for more than a year
in vain and extravagant investiga-
tions. costing the taxpayers great
sums of money while revealing moth
ing beyond the incapacity OF Republi-
| can politicians to cope with the prob
lens.
his place at the peace table. call the
| congress into extraordinary session
| for Imperative purposes of readjust-
ment. the congress when convened
| spent thirteen months in partisan pur-
suits, failing to repeal a single war
statute which harassed business or to
initiate a single constructive measure
| 1t busted itself making a pre-elec-
ton record of pretended thrift. having
| not one particle of substantial exist
snce in fact. 1t ragged against profit
GERS 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 in
| creased production. strict governmental
| economy and relentless pursuit of those
taking advantage of postwar conditions
and are demanding and receiving outra-
| geous profits.
| We pledge the Democratic party to a
| policy of strict economy In governmental
expenditures and to the enactment and
enforcement of such legislation as may
| be required to bring proflteers before the
bar of criminal justice.
The Tariff.
| We affirm the traditional policy of the
| Democratic party in favor of a tariff for
| revenue only and confirm the policy OF
basing tariff revisions upon the inteIli-
| gent research of a nonpartisan commits.
sion, rather than upon the demands y,
selfish interests. temporarily held in abey.
| ance.
Budget
In the interest of economy and good
administration we favor the creation M
an effective budget system that will func'
| ton in accord with the Principles Of -