Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-08-08
Candidate Recalls Republicans, Dwaring Every Con-
sideration to Political Expedency, Fail to Mention
in Platform Americas Winning Great War;

orders Tho control OF money and
interest rates had long been held by
favored groups who wcro thus ablo
to dominate markets, regulate prices,
favor friends. destroy rIvals. pre-
c,pi,nte and end panics and in short
through thci Financial. social and
political outposts, DO the real rul-
crs OF America
Praises Federal Reserve Act.
The Federal Reserve net was orig
mated: advocated and made n Inv
by Democratic President and Con
grcss. against tho bitter protests Of
tho republican stand-patters. who al
most without exception voted against
II. Among these men are the fam
iliar names of Senators Lodge. Pen
cabal responsible for the existing
status in the leadership of their
pnrty., The, Federal reserve act IL ad-
monetary legislation in history. Al
II stroke 1t transferred the power
over money and credit and all they
represent from one financial distr!d.
ont into the keeping OF the people
themselves and instead U. ono dcntcr
TO which all paid tribute. there arc
twelve citndels OF financial freedom
where every citizen has nm equal
right and where the principle that
tho credit OF American business shall
be free Is the basis OF administration.
Every citizen should be alert 10
guard this great Institution which ia
his guarantee OF credit independence.
II shoo!d be kept from the hands OF
those who have never been It's friends,
and who by changes IN few OBJ
scuro phrases could translate II into
II greater power for OWL than II ever
necessary to speak of the Federal re-
servo system In connection with tho
winning OF the war. ~. next 10 tho
conservation OF our manhood and
womanhocd Itself, tho greatest factor
was the Tnarsha!Iing into one unit
through the Federal reserve banks OF
the stupendous wealth o, America. To
those of vision who look on; beyond
our shores into that commercial do
main where wc arc 30 justly entitled
TO enter in time OF peace. latent
power OF the Federal reserve sYste,u
can be seen promoting in every quar-
How OF American commerce.
ship. TO Continue Prosperity.
We Wiz soon have n sncrcnnnt mar
Inc ieet OF ] ]. 100000 tons aggregate
every ship hying the American flag
and carrying In American bottoms
the products OF mill and nlno and
10 DC u GUARANTEES OF continued pros
pcrlty. our facilities for exchange
and credit, however. in foreign parts.
should be enlarged and under tho Fed
crai reserve Iystem. banks should DO
esta bis h~i In Important trading CEN
tcrH. ! am Impressed also. WIKI tho
Importance OF Improving. II no; re-
organizing our consular service. This
suggests another change. our am
bassadors to foreign countries have
had assigned 10 them military and
! naval aiache. The stan should be
cnlarcd no NJ TO Include an officer Of
the government whose exclusive duty
would DO to make observation and re-
port development and Improvement in
educational and social problems gen
orally.
Government bureaus during the
war had close contact WITH the bust
ness organization OF the country.
| That experience revealed the modern
need OF reorganization along purely
business lines. The advantages OF II
democracy Ia government need not
bc rccountcd. II hna been held by
experts thnt Il involves the disad-
vantage ~ disbursements. authorized.
by the iaw-makins power without
sufficient knowledge OF tho need OF
tho service. or the possibilities OF
cxtravaEance. The answer TO THE Is
business enterprise OF any size can
operate without It,. For hundred
years. the Federal unit. and the
States as we'll. made approximations
without determining the difference
between department need and caprice.
at the Same time. paying little eIten-
ton TO tho relation aS between in
come and expense.
Wants budget System.
Many OF the States have adopted a
| budget system. and with success
that carries no exception Efficiency
has been ved-departmental re-
spons.hliity has been conferred. and
economies have been effected Tho
same cnn be done by the Federal gov
eminent. The system will reveal at
once, 80 II did IN the States, a vast
surp!usagG Of employees. 1t wahcns
| individual! Interest, encourages great
er erort, and gives opportunity for
course o: least resistance, develops in
government bureaus Il hardpnn, which
IetaLds progress. When tho reor-
Eaniza ton is made. pay should be
commensurate with service. Many
| Federal departments whose ramifica-
! tons touch the country generally.
have lost valuable men 10 business.
This has badly crippled post-ofiiccs.
the railway mail service and other
branches.
am convinced after cons siderable
study OF the subject that the expense
OF the government can, without loss
OF efficiency, be reduced to Il maxi
mum or four billion dollars, including
sinking fund and interest on the ma
| tional debt. When we enter the league
| OF nations, we should ut the same
time diminish our cost for armament
To continue expenditures in either
the War or the Navy Departments on
q vast scale, once our membership in
the league is assured, would seem
to be "A very definite rcfutai!on or the
| advantages Of the world plan which
We heliove 1t possesses. An appeal
ing fundamental In the league meth
| Cd. is the reduction of armament We
cannot afford to do 1t, until other
nations do likewise. If we do not
enter the league, hundreds of mil
lions of dollars must he spent for
ornaments. If we go in, and I be-
lieve the people will insis, on IL, then
we can count on economies
q. o. Il. Don't Mention Ivu,.
Since the last national conventions
or the two great parties. n world war
has been fought, historic, unprccc-
denied For many, many months,
civilization hung in the balance. In
the despair of dark hours, II seemed
as though world dictator was in
evitable. and that henceforth men and
women who had lived in freedom
would stand at attention. in the face
OF the drawn sword OF military au-
tocracy. The very soul OF America
was touched as never before with a
fear that our liberties were TO ba
taken away. What America did, needs
no reitcration here. IT is known OF
all men. History will acclaim it
poets Will find 1t an Inspiration
| throughout the ages.
And yet there Ia not n line in the
Republican platform that breathcs
an emotion of pride, or recites our
national achievement. In fact. if n
man from Mars were to depend upon
tho Republican platform or its spok-
en- Interpretation. by the candidates
Of that party. as his first means OF
Information, he would not find n sylI
able telling him that the war had
| been won. and that America hnd
| saved the world. How ungencrous
how ungracious all OF this is: how
unfair that mere ErOup OF leadora