The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1920-07-16

achieved under the broad visionea ,a..
ership Of the president 'eeo-
Financial Achievements.
By the enactment of the fedora, rs-
serxe ACT the old system. which bred
pdnics. was replaced by new svstar,
which insured confidence. II VS. IN
indispensable factor in winning ~
war and today. it is the hope ana
vital danger against which the one
can people should keep constantiv On
guard Is the commitment OF This .v -"
s aan,n us partisan enemies who struggled
tempted to retain in the hands ~
speculative bankers a monopoIv NJ ~
currency and credits of the nation "e
Aroarie Democratic leadership the
tneir stupendous part in the greatest
war OF all time. The treasury wiseiv
insisted during the war upon meeting
an adequate portion of the war er.
penditure from current taxes and tx
Duik or the balance from popular
Ioans. ana. during the first full fiscal
year aIIer nghting stopped, upon meet
ing current expenditures from current
receipts Notwithstanding the new and
unnecessary burdens thrown upon the
treasury by the delay. obstruction and
gress. WI
The nonpartisah federal reserve AN.
tnorIties have been wholly free of DO
ai interference or motive; and in
tneir own time and their own way
nave used courageously though eau
tiousiy, the instruments at their dis
posai 70 prevent undue expansion OF
credit In the country.
As result of these sound treasury
ana FEDERAL reserve policies the inevt-
table war imitation has been held down
TO minimum. and the cost of living
has been prevented from increasin;
mere IN proportion to the increase In
other belligerent countries and in neu-
trai countries which are in close con-
eact Win the worlds commerce and
After year and a half of fighting
In Europe and despite another year
ana hall OF Republican obstruction
or the United States stands un.m-
paired. the federal reserve note is the
unit Of value throughout the world
country In the world which maintains
free gold market
We condemn the attempt Of the Re-
psn nann, party , to deprive the Ameri-
the financing OF the war-an achieve
ment without parallel in the financial
history OF this or any other country,
ticuiar. we condemn the pernicious at
tempt of the Republican party to ere
ate discomfort among the holders of
a snd Srag Of the
finance and our banking and currency
system back into the arena of party
politics.
Tax Revision.
The Republican congress persistently
failed, through sneer political coward
Ice. to make single move toward a
readjustment of tax laws which II
denounced before the last election and
was AFRAID to revise before the next
We. advocate tax reform 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 and
Inverted to wasteful or nonproductive
enterprise.
W, demand prompt action by the
, next congress for complete survey
of existing taxes and their modifica-
tions and simplification with a view to
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 q
corollary of this false pretense. Ir
contrast, the last Democratic congress
| $4,000. 100000. designed to be raised. tc
| S. 1000. 900 for the first year after
| the armistice, and to $4,000. 600. o0(
thereafter; and there the total is left
| saries. Two years after armistice day
a Republican congress provides for ex.
| pending the stupendous sum of $5403.'
Affecting great paper economies b,
| reducing departmental estimates o.
| sums which would not have been spen
| in any event. and by reducing forma
| appropriations, the Republican state
| ment of expenditures omits the prog
| nant fact that congress authorized th'
use of s1.5OO,o0o.O0O in the hands O.
| which otherwise would have been Gov
cred into the treasury. and which
| should be added to the Republican to
| tai of expenditures.
| High Cost Of Living.
The high cost of living and the de
precia tion of bond values in this coun
| try are primarily due to war itself t
| the necessary governmental expendi
lures for the destructive purposes o
war. to private extrava gance. to tn
| world shortage of capital. to the in
| flaticn of foreign currencies and cred
it's and, in large degree. to conscience
less profiteering.
| The Republican party Is responsible
| for the failure to restore peace AM
| peace conditions In Europe. which Il
a principal cause of post-armistic
imitation the world oyer. II mas d a
necessary legislation to deal with sec
ondary and local causes. The soun'
policies pursued by the treasury an
|
! tied in this country. though they coul'
| not prevent, the imitation which wa
| world wide. Elected upon specifi
| promises to curtail public expendi
| lures and to bring the country bacl
| to q status of effective economy. tn
Republican party in congress waste
| time and energy for more than yea
| in vain and extravagant investiga
tions. costing the taxpayers grea
| sums of money while revealing moth
| ing beyond the tncapacity of Republi
can politicians to cope with the prob
| Demanding that the president. fror
| his place at the peace table, call tn
| congress into extraordinary sessio
| for imperative purposes OF readJust
ment the congress when convene
| spent thirteen months in partisan pur
| suits, falling to repeal single wa
statute which harassed business or t
initiate a single constructive measur
to help business.
| 1t busled itself making pre-elec
| ton record of pretended thrift, havin
| not one particle of substantial exist
ence in fact. II ragged against pron'
GERS and the high cost of living withou
| enacting a single statute to make IN
| former afraid or doing a single act {
bring the latter within limitations
The simple truth is that the high cos
| OF living can olly be remedied by IN
| creased production, strict governments
economy and a relentless pursuit OF thos