The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1921-03-10

ton which pauld make our drfeu-e
impresnnble. our friumrhs assured
Then ve should have little Or % d.
Organization n cur ecnnomle. indus
trial and commercial systems u home
no staggering war debts. NJ swollen
fortunes - fiouf thr sacrifices - orr
soldiers. no excuse Tor sedlfian, NJ
pitiabie siaske.ism. no OUTRAGE 81
treason. eafy and jealousy would have
no soil f8r their menaeing develop.
meut aud revolution would - With
out the passion which eneenders L
regret for the mistakes ~ yesterday
must not. however. blind as 20 the
tasks u to-day War never ieft such
40 aftermath. and there has been stag
gering loss u life and measureless
wastaEe % materials Nations are
stin cropping for return 20 stable ways.
Disonuraging Indebtedness confronts
US like all the war-t0rn nations, and
these obligations must be provided for.
No civilization can survive repudia-
tion.
We can reduce the abnormal ex-
pendltures. and we will We can strike
at war taxation. and We must. We
must face the grim necessity. with
full knowledge that the task Is 10 be
solved. and we must proceed with q
full realization that no statute en-
acted can repeal the memorable laws
OF nature. Our most dangerous tend
ency is 10 expect too much Of gov
eminent, and at the same time do for
II too little.
We contemplate the immediate task
OF putting our public household In
order. We need a rigid and yet sane
economy combLped with final justice.
and II must be attended by individual
prudence and thrift, which are so es-
sential to this trying hour and reas-
surfing for the future.
Reflection OF Wars Reaction
The business world reflects the dis
turbance OF wars reaction. Herein
flows the life blood OF material exist
ence The economic mechanism is In
tricate and Its parts interdependent,
and has suffered the shocks and jars
incident TO abnormal demands, credit
mutations and price upheavals, The
normal balances have been impaired
The channels OF distribution have been
clogged, the relations of labor and
management have been strained. We
must seek the REIMBURSEMENT with care
and courage. Our people must give
and take. Prices must reflect the re-
cedlng fever OF war activities. Per-
haps we never shall know the old
levels of wage again, because war In
variably readJusts compensations, and
the necessaries OF life will show their
inseparable relationship, but we must
strive for normally to reach stability.
All the penalties will not be light nor
evenly distributed. There is no way
Of making them 30. There Is no In
slant steps from disorder to order. We
must face a condition OF grim reality,
charge OF our losses and start afresh.
II Is the oldest lesson of civilization.
| would like government TO do all II
can 10 mitigate, then, In understand
Ing, In mutually Of interest, OF con
Germ for the common good, our tasks
will be solved. No altered system
will work a miracle: any wild expert
ment will only add TO the confusion.
Our best assurance lies In efficient
administration Of our present system.
From Destruction TO Production
The forward course Of the business
cycle Is unmistakable. Peoples are
turning from destruction to produc-
ton. Industry has sensed the changed
order. and our own people are turning
10 resume their normal, onward way.
The call is for productive America to
20 on. | know that Congress and the
administration will favor every wise
government policy TO aid the resump'
ton and encourage continued progress.
I speak for administrative efficiency,
for llghtened tax burdens, for sound
commercial practices, for adequate
credit facilities, for sympathetic con
Germ for all agricultural problems, for
the omission of unnecessary interfer-
ence of government with business. for
an end to governments experiment In
business and for more efficient business
In government administration. With
all Of this must attend a mindfulness
! OF the human side Of all activities. 50
that social, Industrial and economic
/ Justice will be squared with the pur-
poses Of a righteous people With
the nationwide Induction OF woman
hood into our political life we may
count upon her intuitions, her refine
ments. her intelligence and her in
fluence to exalt the social order. We
count upon her exercise Of the full
privileges and the performance of the
I duties Of citizenship to speed the at
talnment Of the highest states
prayer for Industrial Peace
wish for an America no less alert
In guarding against dangers from with
In than il Is watchful against enemies
I from without our fundamental Law
recognizes no class. no group, no sec
ton. There must be none In legisia