The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-12-07
70 q y t-T-W
(By Associated Press)

=, WASHINGTON, Dec. L President
wilson's annual message to congress
n part follows: ~-s
When l addressed myself to per-
forming the. duty laid upon the presi-
dent by the constitution to present
you an annual report on the state of
the union. found my thought dom
mated by an immortal sentence Of
Abraham Lincoln:
Let US have faith that right makes
\ might, and in that faith let us dare
to do our duty as we understand it"
"a sentence Immortal because it en-
bodies in a form of utter simplicity
and purity the essential faith of the
ration, the faith in which it was con-
ceived and the faith and the birth of
i nation founded on it came the hope
into the world that new order would
prevail throughout the affairs of man.
kind. an order in which reason and
right would take precedence of covet-
BUSINESS and force, and l believe that
l express the wish and purpose of
every thoughtful American when I
said that this sentence marks for US
In the plainest manner the part we
should play alike in the arrangement
of our domestic affairs and in our
exercise of influence upon the affairs
of the world.
a.t-,- Faith Won War.
By this faith and by this faith alone
can the world be lifted out of it's pres
ent confusion and despair. 1t was this
faith which prevailed over the wicked
force of Germany. You will remember
that the beginning of the end of the
war came when the German people
themselves, face to face with the con-
science of the world, and realized that
right was everywhere arrayed against
the wrong that their government was
attempting to perpetrate. l think,
therefore, that it is true to say that
this was the faith which won the war.
Certainly this Is the faith with which
our gallant men went into the field
and out upon the seas to make sure
of victory.
Need Of Democracy.
This is the mission upon which de-
mocracy came into the world. Demo
crazy is an assertion of the right of
the individual to live and be treated
justly. as against any attempt on the
part of any combination of individuals
to make laws which will overburden
him or which will d etroy his equality
among his fellows in the matter of
realize that the day has come when
democracy is being put upon it's final
test.
There are two ways in which the
United States can assist to accom-
plish this great object: First. by Of
feTing the example within her own
borders of the will and power of de-
mocracy to make and enforce laws
which are unquestionamly just and
which are equal in their administra-
tion--laws which secure the full right
of labor and yet at the same time
safeguard the integrity of property and
particularly of that property which is
devoted to the development of indus
try and the increase of the necessary
wealth of the world. Second, by
standing for right and justice as to-
wards individual nations. The law of
democracy is for the protection of the
weak, and the influence of every de-
mocracy in the world should be for
the protection of the weak nations,
the nation which is struggling toward
its right and towards its proper recog.
milton and privilege in the family of
nations.
Budget System.
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
given promise, | venture to say, OF
early completion, only in our own for
tunate country. 1t SENS to me thai
the first step towards providing this
is to supply ourselves with a system
attic method of handling our estimates
and expenditures and bringing then
TO the point where they will not be
an unnecessary strain upon our in
come or necessitate unreasonable tax
alton, in other words, a Worka BILE bud
get system; namely, not only that the
proposal OF appropriations should be
in the hands of a single body, such as
each house OF the congress but alst
that this body should be brought into
such cooperation with the depart
ments of the government and will
the treasury of the United States a:
would enable it to act upon com
plete conspectus of the needs of tn,
government and the resources from
which it must draw its income.
Finances Improve.
The nations finances have shown
marked Improvement during the pas
year The total ordinary receipts 0
S6,G94, 100000 for the fiscal year 1920
exceeded those for 1919 by $1,542 900
900, while the total net ordinary eS
penditureS decreased from $1S,514, 900
600 to S6,4O3 900, 900. The gross publ
debt, which reached it's highest poin
on August p, 1919, when it was $26
596,000,000, had dropped on Novembe
80, 1920, to $24 ,173,000,0 There ha
also been a marked decrease in hole
ings of government securities by tn
banking institutions of the country a
we'll as in the amount reserves held b
the federal reserve banks secured b
government war obligations. Thi
fortunate result has relieved the bank
and left them freer to finance tn
needs of agriculture, industry an
commerce. 1t has been due in larg
part to the reduction of the publ
debt. specially Of the floating deb
but more particularly to the improve
distribution OF government securitie
among permanent investors.
Economy Necessary.
7 cannot over-emphasize the nece: