The Elk Mountain pilot., 1920-09-09
CONTINUED FROM LAST WEEK
Federal Reserve sy...m.

s1-Isve;f b
Federal Reserve eystsn,.
1T is almost unnecessary to speak
Of the Federal Reserve system in. con-
nection with the winning of the war,
az. next to the conservation Of our
manhood and womanhood itself, the
greatest factor was the inarshaiiing
into one unit through the Federal Re
serve banks Of the stupendous wealth
OF America To those of vision who
look out beyond our shores into that
commercial domain where we are SO
Justly entitled to enter In q time of
peace. latent power OF the Federal Re-
serve system can be seen promoting in
every quarter of the globe an ever
widening flow Of American commerce.
We will soon have a merchant marine
feet Of II, ,OOe, 900 tons aggregate, every
ship flying the American flag and
carrying In American bottoms the pro-
ducts Of mill and mine and factory and
farm. This would seem to be a guar
antee Of continued prosperity. Our
facilities for exchange and credit, how
ever. In foreign parts. should be en-
larged and under the federal reserve
system, banks should be established in
important trading centers.
Reduction Of Armament
II am convinced after considerable
study of the subject that the expense
of the government can, without loss
of efficiency. be reduced to a maximum
Of four billion dollars. including sink
Ing fund and interest on the national
debt. When we enter the League Of
Nations. we should at the same time
diminish our cost for armament. To
continue expenditures in either the
war or the navy departments on a vast
scale, once our membership in the
League is assured, would seem to be a
very definite refutation of the advan-
tages Of the world plan which we be-
.lieve 1t ,possesses.aAn appealing funda-
mental In the League method. Is the
reduction Of armamentA We cam
not afford to do 1t, until other nations
do likewise. If we do not enter the
League. hundreds of millions OF dol
lars must be spent for armaments.
II we 60 In. and 1 believe the people
will insist, on 1t. then we can count
on economies. 4s,,,
"The Republican leaders who have
taken charge Of their party and nonii.
mated Its candidate. are no more pos
sessed of the spirit OF the hour than
they were In 1912 when they precipi.
tated a revolution within the rank and
file of a great organization. II further
proof were needed, the action Of the
present Congress supplies 1t. Not a
constructive law can be cited. Money
and time were wasted In seeking to
make a military triumph an odious
chapter in hIstory-and yet is 1t not
significant that after two years of
sieuthful Inquiry. there was nothing
revealed in that vast enterprise, carry
ing billions Of dollars In expense. upon
which they could base even a whisper
Of dishonesty
"The Mexican situation, trying to
our patience for years. begins to show
signs Of Improvement. Not the least
of the things that have contributed tc
1t, is a realization by the people of
that country that we have neither the
lust for their domain, nor disposition
to disturb their sovereign rights.
Peace smiles upon the border and in
centlve to individual effort seems to
be making national aspiration.
Disabled Soldiers.
81 feel deeply that the rehabilitation
Of the disabled soldiers of the recent
war is one of the most vital issues
before the people and I, as a candidate,
pledge myself and my party to those
young Americans to do all In my pow
er to secure for them without unneces-
sary delay, the immediate training
which is SO necessary to fit them to
compete in their struggle to overcome
that physical handicap incurred while
in the service Of their government.
believe also that the Federal Board of
Vocational Rehabilitation as far as
possible should employ disabled SOL
diers themselves to supervise the re-
Mobilization of disabled soldiers, be-
cause OF their known sympathy and
understanding. The board itself and
all agencies under 1t should be bur-
dened with the care of securing for
the disabled soldier who has finished
his training, adequate employment
"The women of America. in emotion
and constructive service. measured up
during the war to every requirement.
and emergency exacted much OF them
They demonstrated not only wiling
ness, but capacity. They helped VIA
q.