The Columbus weekly courier., 1920-08-06


nI America The federal rrMftf afi |
was originated advocated nad made |
q law BY q ueInofllic president and /
fHtrcas. ts8|usl The bitter pr,t
lt1ls Of the Republican slandraIlefs.
who Rimbsl without exception voted
a4aInst u Among llrse men are
||H famll|ar namcs ol Senators
kodFe. pehrosr rnd emtol. The ~
.||le senate cahal responsible for ihc
cftllng status m fIc Ieadcrshlp Of
their party. The federal reserve ~
i admitted 20 he the most rnnsifnc
Tive monetary legislation w history
al a strike Il transferred the power
over money and credit and NJ i.iry
frITeseni from one financial dis.
lrici out into the keeplnp Of fhe
people thnmaclVes and instead 81
one renlcf 70 whlth al paid tribute.
Ihcfr are A. clladels Of financial
Freedom whore every clllf4n has an
rQual right and where The principle
thai tho credit 81 American business
shall be- free u the basis of ndmin
Isiralion. Every rliixen should be
alert 20 guard This ercnl Institution
NhIrh Il his guarantee OF credit IN
|dcpendencc u should be- kept from
lhe hands of those who have never
been ~ friends. and who by changes
IN few obscure phrnses could
irnnsiale u into q greater power for
evil than 4 ever has been for good.
"A y almost unnecessary 70 speak
~ the federal reserve system IN
connection with the winning of the
war. ~. next ~ the consccralinn ~
ohr fnanhood and womnnhood iiself.
lhe greatest factor was The marshall
lng into one unit through the fed
ernl reserve banks of the siupen.
dnts wealth nf America. To those
of vision who look oul beyond our
shores inio that commercial domain
where we are M Justly entitled 10
enter IN time Of peace latent
nuwer of the federal reserve systnm
rnn be seen promoting IN every
uuaricr Of the globe an ever widen.
ms flow Of American commerce. We
will saon have q merchant marine
fleet Of ii.O000O0 tons aggregate.
every ship flying The American flag
and carrying IN American bottoms
the producis of mill and mine aud
factory and farm. This would seem
10 be a guarantee Of continued pros.
perily Our facilities for exchange
and credit. however. IN foreign
parts, should be enlarged md under
the federal reserve system hanks
should be- established In important
lrnding ceniers. am impressed
also with the importance Of improv
lne. " nat reorganixiug, our consular
service. The certain increase In for
eign trade would seem 10 demand Il
This suggests another change Oul
ambassadors Ia foreign countries
have had assigned 10 them mill
lary and a naval aliaehe. The staff
,honld he enlarged 80 n Ia include
| an officer ~ The government wlipsl
, exclusive duty would be 10 max
observation and report development
and improvement In educational nn'
sociai problems generally.
! Government bureaus during th'
} war had close contact with the husi
; ness organization Of the country
That experience revealed the mod
} ern need Of reorganization alonl
! purely business lines. The advan
i laecs of democracy in government
4 need not be recounled. u has beel
, held py experts that u involves th'
disadvantage Of disbursements au
. lhorired hy the law making poweI
r without sufficient knowledge Of tn
. need ~ the scrVirc. 90 The posaihill
r ties Of extravaganza. The tnswer 4
this h the budget system No sue
J. ceasful business enterprise Of am
4 size can operate without n. For
= hundred years the federal unit. am
: the states a. we'll. made apprOpril
4 lions without determining the dil
n ference between department nee
. and caprice. al The same time pas
e ing title attention io the relation a
Z between income and expense. Man
!. ~ the states have adopted budge
I system. aud with n success that cal
n ries no exception. Efficiency ha
n been lmproved-departmenial n
l. sponslhihiy has been cenlered. an
4 economies have heon effected. Tn
y same can b. done by the federal go'
q rInmeni The system viii reveal
: once. as Il did in the states, a va'
r surpiusaee of employees. II awaken
y indlyid,lal interest encourage
l. grealor effort and gives oaportnnil
III for talent 10 assert Itself. The NO
~ mai cnnrsc of least resistance. d
y Velops IN government bureaus
b hardpnn, which rciards progrrs
y When the reorganization u mad
= pay should be commensurate vii
"a service. Many federal Department
Al whose qualifications touch the cou
e. Try generally. have lost valuab
y men n business This has had
m crinplci posi0ffices. the railWl