Evening journal., 1920-06-08


OF this Congress. whose time Is but
little more than half spent Some OF
the master minds OF the Democratic
party are now chirulplng away like
incossant little birds that the Re-
puhlicans have dome nothing" /
should be glad omhting The two
years OF war when both parties work
ed together. Go put the recorded ac-
complishmcnt OF the ilvc years OF
complete Democratic control beside
that OF our eighteen months ham
pored by an inimical administration.
Let me assure you that We do not
fear the comparison.
We have made a remarkable begin
ming. but We are fully conscious that
10 Is only a beginning Much has been
DONE, much more remains 20 do and
we pledge ourselves tO exert an O-r
energies 10 deal with what is slill un-
Done. The wreck and confusion OF a
great war, in business. finance and
lain economic conditions. cannot be
cleared away and fully roaduisted In
year and a half nor indeed In twice
that time Reconstruction must be
steady and energetic but 10 also de
mands care if 10 Is 60 be OF lasting
value. The rise OF prices, the high
cos; Of living which reach daily Into
every home, Is the most pressing as
10 Is the most difficult and most cs-
sential problem which cOnfr0nts us
some OF the sources OF this trouble
can be reached by legislation, al
though not all, but everything mat can
be effected By law should be done at
once. pronieering, me charglng or
cxtortionaie and unlustifCd prices.
which Is stupid as well as unlaN-
ful. are subject now 60 ample punl-
tive laws Those laws should be en-
forced others III necessary added, and
The Offenders both great and small
should be pursued and punished, not
In the headlines OF newspapers after
the manner Of the present Attorney
General. but quietly thoroughly and
efficiently. in the courts or the United
States. Something more In tnls q
rection can be accomplished by the
proper regulation OF cold storage,
and a bin for that purpose has pass
ed both Houses and Is now IN con-
Another deep-seated cause Of The
rise OF prices. more effective m us
results. although less obvious than
proflteering. is the abnormal increase
per capiia OF the circulating medium
This has doubled since the war pc
gan and II in the space Of a few
years the amount OF the circulating
medium Is doubled 10 has most, pro
| found effect In stimulating ana au-
vancing prices. During the war
credits have been enormously inflated
and there have been large additions
/ III the currency through the Federal
/ Reserve banks. Here II Is possible 10
check the advance Of prices by law.
| We can provide FOR the control OF
credits I'm such manner as 20 give
preference 60 the most essential pro
d al. mN.In "a HUIIIRn
/ the amount OF the circulating medium
/ i'm the form Of Federal Reserve bank
notes the authority having been
given during the war 20 increase the
/ ISSUE of these notes from two bill
| lions TO four billions. 10 should he
one Of the first acts OF Congress "a
deal with this essential point ana II
would have marked efeci IN reduc-
I ing prices by steadying them and
bringing them down to a lower and
more normal level.
/ Kennedy Lies in Production
The most potent remriy or all
against advances In the high cost OF
/ living. however. lies i'm production
which cannot be reached directly by
statutes. III production begins % iai
and fall on. the cost or every thint
will he advanced by the simple force
OF scarcity which inevitably driNe'
II
remedy for high costs is 10 keep M
and increase production and partlcu
larlv should every effort be made q
advance he productivity Of the farms
Just how much the government car
do I'm This direction Is uncertain, bu
IT. can aid and support and II any
thing can be done 10 must not bl
omitted or overlooked. Al tne SAM
time 70 must not be forgotten ina
there Is a vast difference between tho
powers Of the national government II
time Of war and those which 10 pos
sesscs I'm time Of peace. The norma
Limitations Of times Of peace rcstric
very much the powers Of the genera
government and In helping 10 increasl
The productivity of the farms, whici
must be done through governmen
action. the Republican party. prom
ises TO use every power IN tnls dl
reclion whether within the State o
Federal jurisdiction.
/ have touched upon this matter o
prices and the high cost OF living be
cause it Is altogether the most i'm
pOriant domestic question now befor
The country and one 20 which IN
! Republican party should address 10
self without delay in overy direction
where help Is possible. There arc
OF course, as ! have said, many othe
, important economic questions 20 b.
Z dealt with, as speedily as may b.
. but the time allotted to me make
, IL impossible 70 touch upon them all
There Is. however, ono measur
b which cannot be passed over, a slnel
, great law which has been enacte
= and which in any period would b
b. sufficient 10 distinguish a C0ngres
/ as one of high accomplishment. Thi
| Is the Railroad Act. For six month
i ] IN. kaNA
, mittees where no party line wa
/ drawn, toiled day after day upon thl
I most intricate OF problems. Ther
I was much serious debate In bot
Senate and House and then the bil
signed by the President. became law
! No doubt time and experience wi
I show that Improvements in the AZ
7 can be made. but In the main n
I a remarkable piece OF legislatio
/ and In general principles Is entirel
lsOund, and nothing could be moi
lunfair than 70 criticize the preser
owners cOntending with the legac
a. Of mismanagement, waste and cor
! fusion bequeathed by the Cover
ment when Il returned the road
only three months ago. The RailrOa
> Law possesses also an impOrtanC
- wholly distinct from It's provision
5 which have been framed with eXtrem
= care. This Act declares a nationi
s policy and, so far as any law can do
e establishes that policy as a rule
n action. The policy embodied In tf
r bin comedies at the outset that 10
p OF course impossible % return 10 N
y old system or lack OF sysem in Oh
d MANAGEMENT OF railroads. They mu
o henceforth be under thoroush g0veri
e ment supervision and also the govern
u ment must have over them a lara
n I rnnnutrrn ~ annFs.oI Tho frauarIa.f