Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-04-20
ny DAVID LAWRENCE.

not expressed it, thought the price OF
! human liberty was worth paylns, az
| she is now suffering the pam Aau
| feeling the effects of her sacrihces III
| the war. ,.;r.
branch of the government there IS q
! recognition of and respect TOT idcts.
| CONGRESS is wrestling in vain Win
heavy governmental expenditures,
some of them inherited from the Wal
and some of them too dellcate , 70
| cut out because of the fears or pohticai
| disaster that may attend the party
! that performs the surgical operation;
| All sides seem to be agreed tnat tne
United States is carrying neaN!
burden of financial credits, ana ina,
| to strain the load with bonus 70 'ne
ex-soldiers would be to impose q
weight that might bring crash IN tne
| st.tus Of our credits. but, on the other
! hand the votes of the soldiers cannot
| be ignored by ever so many menoeIs
| of Congress. Therefore the treasury
| Department is watching. Amos. VIZ.
hated breath. to see what congress
will do And it goes without SAYING
! that President Wilson himself prooaoly
will veto the measure If Congress
doesn't see fit to kill 1t.
| Financial situation Worries.
For of one thing the public may
! rest assured-the financial SITUATION OF
| the United States has given foiks A. .ne
executive end of the Avenue IN WASH
ington may worrisome Gays anu 1872
! less nights. If the truth be Known;
! the republican leaders of Con&ess ana
the democratic members OF the execu-
; tive departments have been working
more closely in harmony on ms
phase of government than anEtnlns
! else this political year Ihey can
| help it, Neither side wants the respon.
| sibility for the prolongation OF 1rksome
conditions. Each side would like to
reduce taxes but knows 1T cannot De
done this year and possibly not next
wear. Certainly if the soldier bonus
goes through. the prospect Is cohsu
cred even more remote for rene!
from taxation. After having struggled
hs I'd to reduce the cost OF government
| hy billion dollars. men like RepuDh-
can Leader Mondell do not fancy the
| idea of putting out another billion DOL
| lars in credit obligations to the eA-
soldiers. ..
But while government economy Is
advocated in order that expenditures
NAV be still further reduced. the
pressure from the various parts OF the
country affected by diminished APP
propriations is SO strong that men IN
the government hardly know where
to begin lest they be enveloped in a
whirlpool of political currents that
will sweep them out Of office.
Perhaps the most common Thought
that one finds throughout the govern
ment. and especially in the Treasury
Department, is one of criticism OF the
American people for their unlimited
expenditures on luxuries. Extrava-
gance is the handspring of the high
cost of living. Profteering Is con-
demned but conservative minos 40
not attribute all of Americas woes to
profiteers. Prosecution 10 always
fSsf ynf
the cooperation of the purchasing
individual who must refrain from
buying from profiteers. Signs OF
economy and thrift are beginning,
however. to appear.
Peak In Prices Reached.
Broadly speaking. it is felt here that
the peak in prices has been reached
and that the tendency OF the average
American to refuse to pay the prices
being asked of him Is the first and
necessary step in the mental process
that makes economy. Any one who
buys a suit of clothes, a pair of shoes.
or any other item Of apparel, or builds
a house or motors single mile that
isn't absolutely necessary. does that
much to keep up the high cost OF
living. That's one principle which is
being empha sized. Every state. city
or town that issues bonds for a single
improvement that isn't essential
simply adds that much more weight
to the credit system of the. country.
SO long as America consumes IN
money more than is produced; so long
as America is buying less from Europe
than she is selling. and foreign ex-
change is thereby deranged: so long
as foreign trade is confused by un-
certainty over the political situation
| in Europe: SO long as France waits
| on America or depends upon payments
~
Europe CANDLES on Russias recovery;
so long as America is unable to trade
with Germany because OF tho absence
| of a treaty of peace. there VIII remain
| factors of destruction instead OF con-
struction That is another, funda-
| in studying the viewpoint of govern
! ment officials. Entirely apart from
the blame that attaches to the Presi-
dent or the Senate for the failure Of
the United States to have a peace
| treaty with Germany. there is dis
tinct feeling that the world would
! have gone forward by good many
| stages in the economic cycle II peace
! had been established a year ago.
Looking Askance ut France.
incidentally, officials still look ask
ance at France and wonder how long
! the French politicians Will wait before
taking courageously in hand the tax
+! problem and raising money Dy taxation
instead of loans. Commentator for the
British fiscal system in taxing to the
| utmost is heard again and again. For
the universal sentiment seems to be that
| nations must find their economic saliva
ton in their own efforts at greater pro-
duction rather than in continued Dor
rowing or leaning on other countries
Optimism-yet by no means overcon-
! fdcnce-creeps out as officials survey
the prospect of better crops throughout
the world. Europe is expected to reap
! more successful harvest from this
years planting 1t should help raise
the spirits as well as the credit Of Eu-
! ropean countries.
Tip to U. s. Investors.
But as for the United States. there's
one tip which may develop into ma
tion-wide movement II public sentiment
! gets behind 1t and sees its true value.
| 1t is the tip to buy government securi-
ties at the present low levels. The idea
seems to be that II enough people in
this country suddenly decided to get
along without luxuries and invested
their savings In government securities
the prices Of those securities. would
promptly rise and 60 higher while ths