Evening star., 1921-07-12
Continued from First Page.l

ness are to mature in the two
years Immediately following. and
the overwhelming Of the Treas
ury now means positive disaster
in the years Immediately before
us. Merest prudence calls out IN
warning.
Our greatest necessity is 4 re-
turn to the normal ways OF peace
activities. A modest offering to
the millions Of service men is a
poor palliative to more millions
who may be out Of employent.
Stabilized finance and we'll estab-
lished confidence are both essen
tial to restored industry and COM
merce.
The slump which is now upon US
Is an Inevitable part Of wars aft
ermath. 1t has followed in the
wake Of war since the world be.
gan. There was the unavoidable
readjustment. the Inevitable
charge the unfailing attend
ance Of losses in the wake Of high
prices. the inexorable denation
which imitation had preceded. 1t
has been wholly proper to seek to
apply government relief to mini
mize the hardships. and the gov
ernment had aided wherever possi-
Bile. and is aiding now. but all the
special acts ever dreamed OF. all
the particular favors ever con-
ceived will not avoid all the dis
tresses nor ward of all the losses.
The proper mental state Of our
people will commit US resolutsly
and confidently to our tasks. and
definite assurances As to taxation
and expenditure will contribute to
that helpful mental ORDER The
only sure way to normalcy Is over
the paths nature has marked
throughout all human experience.
With the approval Of Congress
the executive branch Of government
has been driving toward that de-
creased expenditure which Is the
most practical assurance Of dimin-
ished taxation. With enthusiastic
resolution your administrative
agents are making not only con-
scientious effort to reduce the call
for appropriations. but to reduce
the cost Of government far below
the appropriations you have already
provided. 1t Is easy to believe that
the only way to diminish the bur-
dens which the people must pay 10
to cut the outlay in which public
moneys are expended. War 10 not
wholly responsible for staggering
costs; it has merely accentuated
the menace which lies in mounting
cost Of government and excuses
in expenditure which q successful
nrivate business would not tolerate.
can make you no definite prom
tse in figures today. but I can
pledge you = most conscientious
drive to reduce government cost by
many millions. 1t would be most
discouraging to those who are
bending their energies to save mil
lions to have Congress add billions
to our burdens at the very begin
ming.
World Owes Us Heavily,
Even were there not the threat
.ned paralysis Of our Treasury.
With its fatal renexes on all our
.ct;vities which concern our pros
perity, would 1t not be better to
await the settlement Of our foreign
loans, At such q time it would DO
a beatoval on the part Of our gov
.rrment when 1t is able to bestow.
The United States participates in
nan. of the distributable awards
OF war, but the world owes US hsav-
i,y and will pay when restoration
I. wrought. II the restoration
fails world-bankruptcy attends
Relieve thu world restoration 10 pos
sible. but only with honest dinsent
worx in productivity on the one
hand. and honest and diligsnt op-
position to needless public exDendi'
ture on the other. :.
II the suggested recommitment
~ this measure bore the mersst
surxestion Of neglect or mint OF
national ingratitude would not
ur~a It. 1t has been my privilege
n sneak to Congress on our obli-
cation. to the disabled and de-
pendent soldiers and the govern
msnt's deep desire to prove Its
coneern for their welfare. I should
y. ..hamed Of the republic II it
s.i,sd in its duty to them. Neither
.rmistics nor permanent peace
nut. an snd to the obligations OF
government to its defendsrs or
the obligations Of eitizens' to the
Government. Mindful Of these
thing, the administrative branch
=, tho government has not only
spoken. it has acted and has &C.
compliahsd.
work Being Expedited.
In view Of some Of the things
vh,eh have been said. and very
earslessly said. perhaps I ought
"a report ofncially some Of the
.hinrs which have been done. In
the dspartmant Of war risk in
i.urancs there have bssn fllsd up
70 July Z. 1891. compensation and
insurance claims numbering S13..
s442. OF thesss 747.7ast havA bson
adjudicated. at In expenditure Of
$47t.p4s.7ss. There were $4,000