Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1920-07-14
achieved under the broad-visioned less-
ership ~ the president.
Financial Achievements.

Financial Achievements.
ny the enactment OF the federal re-
panics. was replaced By new system.
which insured confidence. II was an
indispensable factor IN winning the
var AID today Ia Is the hope and
vital danger against which the Amert-
can people should keep constantly on
guard - the commitment OF this svs-
ten is pas''sa s enemies VINO s s,rqsssso
tempted 20 retain In the hands OF
speculative bankers a monopoly OF the
currency and credits OF the nation
Under Democratic leadership the
American people successfully financed
their stupendous part In the greatest
war % All time. The treasury wisely
insisted during the war upon meeting
m adequate portion OF the war ex-
penditure from current taxes and the
bulk OF the balance from popular
loans. and. during the first full nscal
ing current expenditures from current
receipts Notwithstanding the new and
unnecessary burdens thrown upon the
treasury by the delay, obstruction ana
ektrsfasanee OF Republican con-
The nonpartiSan federal reserve au-
thorities have been wholly free OF DO
their own time and their own way
have used courageouEly. though eau
uously, the instruments az their dts
posal 20 prevent undue expansion Of
credit IN the country.
As a result OF these sound treasury
and federal reserve policies the tnevt-
table war imitation has been held down
@ minimum. and the cost Of living
has been prevented from increasing
here In proportion 20 the increase IN
other beiligcrent countries and IN neu-
trail counties which are In close con-
tact with the world's commerce ana
exchanges.
After a year and a half OF hghting
In Europe and despite another year
and half OF Republican obstruction
AZ home. the credit OF the government
OF the United States stands unim-
paired. the federal reserve note Is the
aad the United States Is the one great
country ia the world which maintains
q free gold market
We condemn the attempt OF the Re-
publican party 20 deprive the Amert-
car people or their legitimate pride In
the financing 90 the war-an achieve
ment without parallel In the financial
IN this or any other war. And. in par
ucmlar. We condemn the pernicious at
tempt 81 the Republican party 90 Gre
ate discomfort among tse holders or
United states and TO drag our public
nnance and our banking and currency
system back into the arena OF party
Tax Revision.
The Republican congress persistently
failed. through sheer political coward
ice. 20 make a single move toward a
adjustment OF tax laws which u
denounced before the last election and
was afraid 90 revise, before the next
We advocate tar reform and
acts 20 AZ peace conditions so that the
wealth % the nation may not be with
drawn from productive enterprise and
Inverted 90 wasteful or nonproductive
enterprise.
We demand prompt action by the
next congress FOR complete survey
ti0nH and simplincation with a view to
secure greater equity and justice in
tax burden and Improvement in ad-
Public Economy
Claiming TO have effected great econ
omies in government expenditures. the
Republican party cannot show the re-
durtion % one dollar In taxation as a
eorollasy OF. THIS tslse prstenss. In
enacted legislation reducing taxes from
So 600. 900. 900. designed 60 be raised. 20
ts.eoo. o0o, 900 FOR the nrst year after
thereafter. and there the total Is left
mnntminiShed by our political adver-
saries. Two years after armistice day
pending the stupendous sum Of s5.4Ss.-
Arccting great paper economies BY
sums which would not have been spent
Ia any event and by reducing formal
appropriations. the Republican state
nlent ot 30, - o',,,,s tns -
use % ft.so0 100000 IN the hands of
various departments and bureaus
which otherwise would have been COW
should e added 20 the Republican to-
tai Of expenditures.
Hlah Cost Of Living.
The high cost OF living and the de-
probation OF bond values IN this coun-
me necessary governmental expendi-
lures for the destructive purposes OF
war. 60 private extravaganza. 20 the
world shortage OF capital. 10 the In
Ration Of foreign currencies and cred
Its and. IN large degree. 10 conscience
The Republican party Is responsible
peace conditions in Europe. which is
a principal cause OF post-armistice
imitation the world Over. ~ has de-
necessary LEGISLATION 90 deal with Sec
ondarY and local causes. The sound
policies pursued by the treasury and
ne nc tsas ssss o5ntry sSensh , bsxe caans
not prevent. the Imitation which was
worldwide. Elected upon specific
R s@ss ssa % Srias the U esantry back
10 a status Of effective economy. the
Republican party in congress wasted
time and energy for more than 4 year
in vain and extravagant tnveFtiga-
tfons. costing the taxpayers great
sums OF money while revealing moth
ing beyond the incapacity OF Republi-
can politicians 20 cope with the prob
lens.
hts place az the peace table. call the
congress into extraordinary session
for imperative purposes OF readJust-
menf the congress when convened
spent thirteen months In partisan pur-
xflits falling 20 repeal a single war
statute which haraSsed business or 10
initiate a single constructive measure
% help business.
"a busted itself making n pre-eicc-
ton record OF pretended thrift. having
not one particle Of substantial exist
ence ln fact. IL ragged against profit
eers aud the high cost OF living without
enacting A single statute 10 make the
former afraid or doing a single act 10
bring the latter within limitations.
The simple truth Is that the high cost
% living can only be rcmedied by in
creased pr0duction. strict governmental
economy and relentless pursuit OF those
taxing advantage OF postwar conditions
and are demanding and receiving outra-