McNairy County independent. (Selmer, McNairy County, Tenn.) 1902-1969, 1920-12-24

the SaHe tlme safeguard the Integrity
OF property and particularly of that
property which Is devoted to the de-
velopment of industry and the increase
OF the necessary wealth of the world
Second, by standing for right and
justice as toward individual nations
The law of democracy is for the pro-
lection of the weak and the influence
of every democracy In the world should
be for the protection of the veal, ma
ton.
Forces of Chaos and Tyranny.
"The United States cannot refuse
this role of champion without putting
the stigma of rejection upon the great
and devoted menawho brought its Gov
eminent into existence and established
1t in the face of almost universal op-
position and intrigue, even in the face
of wanton force.
II urge you to consider that the dis
play Of an immediate disposition on
the part of Congress to remedy any
i1justlces or evils that may have
shown themselves in our own national
life will afford the most effectual off
set to the forces Of choas and tyranny
which are playing so disastrous a part
in the fortunes of the free peoples of
more than one part of the world. The
United States is of necessity the sam
pie democracy of the world, and the
triumph of democracy depends upon its
success.
Disastrous Effects of War.
Recovery from the disturbing and
sometimes disastrous effects of the
late war has been exceedingly slow
on the other side of the water and
has given promise, l venture to say,
of early completion only in our own
fortunate country, but even with us
the recovery halts and is impeded at
times and there are Immediately serv-
iceable acts Of legislation which 1t
seems to me we ought to attempt to
assist that recovery and prove the in
destructible recuperative force Of a
great Government Of the people.
"One of these is to prove that
great democracy can keep house as
successfully and In as business-like q
fashion as any government. 1t seems
to me that the first step towards prov
ing this Is to supply ourselves with a
systematic method Of handling our
estimates and expenditures and bring
inc Thorn RI tha poipt .,hora thax, xx,i1l
not be an unnecessary strain upon our
income or necessitate unreasonable
taxation In other words, as workable
budget system. and respectfully sug-
gest that two elements are essential
to such system, namely, not only
that the proposal of appropriations
should be in the hands of single body
such as a single Appropriations Com
mittee but also that this body should
be brought into such cooperation with
the departments OF the Government
and with the Treasury of the United
states as would enable it to act upon
complete conspectus of the needs of
the Government and the resources
from which it must draw its income.
Reluctant Veto of Budget.
81 reluctantly vetoed the budget bill
passed by the last session of the Con-
gress because of q constitutional OBJ
lection.
"The House of Representatives SUBJ
sequently modified the bill in order to
meet this objection. In the revised
form believe that the bill coupled
with action already taken by the Con-
gress to revise its rules and procedure,
furnishes the foundations for an effec-
tive national budget system.
Il earnestly hope, therefore, that
one Of the first steps taken by the
present session of Congress will be to
pass the budget bill.
1.-THE nations finances have shown
marked Improvement during the past
year. The total ordinary receipts Of
Sc, 694 100000 for the fiscal year. 1920,
exceeded those for 1919 by $1,542. 000,-
900 while the total net ordinary ex-
penditures decreased from $1S,514,-
100000.
1.-THE gross public debt which
reached IFS highest point on Aug. 81,
1919. when 1t was see, 1900 had
dropped on Nov. 80. 1920, to $24, 175,-
100000. There has nj 20 been a marked
decrease IN holdings of government
war securities by the banking institu-
tons Of the country as well as In the
amount of bills held by the Federal
Reserve Banks secured by government
war obligations.
Urges Economy.
"The cessation Of the Governments
/ borrowing except through short-term
certificates of Indebtedness has been
a matter Of great consequence to the
people of the country at large. as well
as to the holders Of Liberty Bonds and
Victory Notes. and has had an impor-
tant bearing on the matter of effective
credit control. The year has been
characterized by the progressive with
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| Mistake or Confession?
The nervous bridegroom was called
upon>to make speech at the wedding
/ breakfast. -