Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-08-07

nave bSeu dDle To throw our deciding
strength into the balance and win the
war.
Any attempt to discredit the federal
operation of railroads during the years
of grave emergency is unfair. In the
case of those who know the facts it is
lnslncere; TOO much can not be said Ia
praise of those who directed this work,
nor of the men who physically operated
the lines under the discouraging condi-
lions of poor equipment. But all Of
this Is water over the wheel.
The problem of the railroads is
still with us. The government and
the public should render every CO.
operation in the utmost good faith,
to give thorough test to private
ownership.
The railroads have had their lesson.
Government regulation is accepted now
as not only IL safeguard to the public,
but as a conserving process to the
physical rehabilitation and it should be
sufficient for the periods of maximum
demand.
We should not lose sight, however, of
the vast possibilities Of supplementary
service by water.
Tho Great Lakes and st. Lawrence
navigation project particularly,
should claim the interest of the gov
ernment.
About third of our states would
be supplied with an outlet for every ton
of their exports. The opportunity to
make of the lake harbors great ocean
ports of entry is inspiring TO contem-
plate. In tho crop-moving period, the
call on the railroads is staggering. Grain
piles~up in the elevators. With stagna-
ton more or less general, the farmer
sells his product under the most un-
favorable conditions. The trackase AMI
the terminals in middle states particu-
lsp lxF rsff. al mill H. f-aY gVe1
Interference with local movements Of
freight is inevitable. The solution woulG
be simplined by utilizing the waterways.
Aside from this, the acerulng gain
from every crop would be a c0nsidera.
tion for the reason that the price OF
grain IN this country is made by the
Chicago market and il Is determined py
the London quotations. The price In
the British metropolis Is a stated figure
less the cost OF transportation. me
routing OF these commodities By water
would effect q saving OF approximately
S cents q bushel, which means that
American grain would net just that much
more.
&. o. +. BLOCKED MONEY
REFORM FOR FORTY YEARS.
For more than forty years before
woodrow Wilson was elected president
In 1912 a reform of eur banklng ana
currency system had been almost uni
after year deferred or reused by the
sIand-pat element OF the republican
party in obedience TO ordefg. ne con-
troll of money and interest rates HAu
long been held by favored grohpe VINO
were thus able TO dominate markets,
regulate prices, favor friends, destroy
rivals preeir plate and end panics ana
Ia SNORT through their financial, socla
and political outposts. be the real rulers
OF America,
The federal reserve act was originated,
advocated and made a law by demo
cratic president and congress, against
the bitter protests OF the republican
stand patters, who almost without eN-
ception voted against it. Among Ihese
men are the familiar names OF senators
Lodge, Penrose ard Smoot, the INSIDE
senate cabal responsible for the exlstlH~
stasgs in the leadership OF their party
The fsdera, reserve oct is admitted
to be the most constructive monetary
legislation in history.
A. stroke IL transferred the powel
over money and credit snd all they rep
resent from enc financial district oul
into the keeping Of the people themselFes
aud instead Of one center 20 WhtrA R4A
paid tribute, there are twelve eita9els
Of financial freedom where every ciLlk"n
has an equal right and where the prin-
Ciple that the credit OF American busl
ness shall DO free is the basis OF az
ministrauon.
Every citizen should be Abort to guard
this great institution which Is his guar.
antee Of credit independence. 1t should
be ke4it from the bands OF those WHO
have never been its frlends, anu WIZ
by changes In a few obscure phrases
could translate Il into a greater power
for evil than u ever has beer for good,
IT Is ALMOST UNNECESSARY TO
SPEAK or THE FEDERAL tsEsEEh >
SYSTEM ~ CONNECTION WITH TIT
WINNING OF TIE WAR a.. NEAa
10 THE CoNsECRATIoN OF OR
MANHOOD AND 8OMANHooD IT.
SELF. THE GREATEST FACTOR WAS
THE MARSHALLING INTO oNE MT
THROUGH THE FEDERAL KESEkk ~
RANKS or THE sTUPE&Dols
WEALTH or AMERICA. n
To those Of visioi who look out be.
yond our shores into that commercial
domain where we are So Justly entitled
TO enter In a time CT peace, latent power
of the federal reserve system can be seen
promoting Ia every quarter OF the @iope
an ever widening flow or american COM
marine feet Of II 600 600 tons aggregate,
every ship flying the American nag ana
carving In American bottoms the prou-
ucts of mill and mine and factory ana
farm. This would aeem 20 be guar
antee OF continued prosperity. our taciA-
ties for exchange and credit, however,
in foreign parts should be enlarged ana
under the federal reserve system, bahks
should be established In important trad
ing centers l am impressed also, vita
the Importance Of improving, II not re-
organizing our consular service. Inc
certain increase in foreign trade wo ia
seem to demand IT,. This suggests
another change. Our ambassadors 70
foreign countries have had assigned 70
the nj a military and naval attache. The
staff should be enlarged so RS to IN
cIuda an officer Of the government whose
exclusive duty would be to make observa-
ton and report Development ana I'M
proyement in educational and social
problems generally.
FEDERAL BUREAUS
NEED NEW METHODS.
Government bureaus during the war
tad close contact with the business or
ganization OF the country.
That experience revealed the mod
ern need of reorganization along
along purely business lines.
The advantage Of democracy in gov
eminent need not be recounted. 1t has
been held by experts that 1t involves the
disc advantage of disbursements, author.
sufficient knowledge of the need Of the
service. or the possibilities OF extrava-
gance. The answer to this Is the budget
system. No successful business enterprises
Of any size can operate without IL.
For a hundred years, the federal unit,
and the states a. wen, made approprl,..
lions without determining the difference
between department need aud caprice. at
the same time, paying little attention to
the rela ton as between income and ex-
pense.
Many of the states have adopted
budget system, and with a success that
carries no exception. Efficiency has been
improved departmental responsibility
has been centered, and economies have
been effected. The same can be done by
the federal government. The system viii
-------------------