The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1921-07-12

II the effects Of the option should call for
cash running into billions, the depression
attend.
obligation which it does not intend to
meet No government fiat will pay our
bills. The exchanges of the world testify
may rely on the sacrifices of patriotism
in war, but today We face markets and
the effects of supply and demand and the
memorable laws of credits in time of peace.
"Must Pay High Rates."
AT the very moment we are obliged
to pay 5A per cent interest for govern
floating Indebtedness, a rate on govern
ment borrowing, in spite Of tax exemption,
which ought to prevail in private trans
of financing our industry and commerce.
definite obligations amounting to seven
and and half billions in war savings GER
tificates. victory bonds and certificates
covering floating indebtedness, are TO
mature In the two years Immediately fol-
lowing, and the overburdening of the
treasury now means positive disaster in
the years Immediately before us. Merest
prudence calls out in warning.
our greatest necessity is a return to the
normal ways Of peace activity. modest
offering to the millions of service men is
q poor pa ,,1 70 more millions who
finance and well established confidence are
both essential to restored industry and
THE slump which is now upon us is an
inevitable part OF wars aftermath. 1t has
IoIIowed In the wake Of a war since the
world began. There was the unavoidable
readJustment. the inevitable charge off, the
un1aillng attendance of losses in the wake
which imitation had preeedee eftiaf bos
been wholly proper to seek to apply gov
eminent relief to minimize the hardships
and the government had aided whenever
possible and is aiding now, but all the
special acts ever dreamed of, all the par
hcular fayors ever conceived will not avoid
losses. The proper mental state of our
people viii commit US resolutely and con-
didently to our tasks and definite assur-
ances as to taxation and expenditure Will
contribute to that helpful mental order
The only sure way to normally is over the
paths nature has marked thruout all human
experience.
Must Cut Expenditures.
with the approval of congress the ex-
ecutiye branch of the government has been
T nrlving toward that decrease in the ex-
assurance of diminished taxation. with
enthusiastic resolution. your admiuistra-
tious. effort to reduce the call for appro
priations, but to reduce the cost of gov
ernment FAR below the appropriations you
neye that the only way to diminish the
burdens which the people must nav and To
cuI tne outlay in which public moneys are
expended. War is not wholly Responsible
Ior staggering costs; it has merely accentu-
ated the menace which lies in mounting
"a 6ONCAAAutuJ ana excess In cNnpN-
diture which successful nriyata hmsi
ness would not tolerate.
can make you no definite promise in
igures today but can pledge You a most
conscientious drive to reduce covefnment
cost by many millions. 1t would be most
tdb, sSr ensr to those who are bending
congress add billions to our burdens az
the very beginning. Even were there not
me the, threatened paralysis of our treasury
WIN lts Latal tnflexes on all our activities
wnlcn concern our posterity. would it not
pc better to await the settlement of our
Q. S. Got Nothing.
The United States participated in none
OF the distributable awards of war, but
the world owes us heavily and will nav
when restoration is wrought If the res
toration fails world bankruptcy attends-
I believe the world restoration is possible
put only with honest, diligent work in
and diligent opposition to needless publfc
expenditure on the other.
IF the suggested recommitment of this
measure bore the merest suggestion of neg
lect or hint of national ingratitude, 1
would not urge it. 1t has been my
privilege to speak to congress on our obli-
soldiers and the governments deep desire
to prove its concern for their welfare.
failed in its duty to them. Neither armi-
stlce nor permanent peace puts an end to
the obligations Of government to its de
the government. Mindful of these things,
the administrative branch of the govern
ment has not only spoken, 1t has acted
and has accomplished.
"In view of some of the things which
have been said and very carelessly said, |
perhaps I ought to report officially some
Of the things which have been done. In
the department of war risk insurance
there have been filed up to July Z, 1921,
and insurance claims num-
bering s13.442. OF these, 747,7S have been |
adtudieated, at an expenditure of S471,946- |
when the war risk department was re-
organized late in April this year, and the !
number of pending claims has been re- |
duced by 1874, 344. All work in this de- !
partment will be current by the 21st of |
this July; that is to say, all action whicH
the bureau may take on given case viii |
be current, tho new claims are being fileN
at the rate of 700 per day.
He Gives Figures.
"There have been requested SS7, 614 medi-