New-York tribune., 1921-12-07
Foreign Debts Refunding
Asked as Measure to
Aid in the SIabiliza-
ton of Worlds Money
Favors Curb for
Non-'Taxable Bonds
Suggests Establishment
of Cooperative Mar
kets to Help Farmers
BY Carter Field

WASHINGTON, Dec. CIV World
hope is centcred" on the Conference
for the Limitation Of Armament,
President Harding declared to-day
in closing his first address to a regu-
lar session of Congress, delivered in
person in the House of Representa-
tives Hall. ga most gratifying
world accomplishment is not i'm
probable he said. "Our country
is not only free from every impend-
ing menace Of war, but there are
growing assurances of the perma-
neDcy of peace"
The President gave most of his
attention to domestic questions, GO
idg through long series of sub
iects which he wished to bring to
tie attention of Congress. The ses-
son Just ended was an extra session.
called for three distinct purposes.
revision Of the taxes, revision of the
tariff aad the passage OF resolution
declaring peace with the Central
Powers. The message to-day, there
fere, is President Harding's first
formal detailed message.
Views OH Labor
The big surprise in his message
vas with regard to labor. Without
gong into details, he outlined
plan for the regulation of labor
which he compared to that now ex-
ercised by the government for the
regulation Of corporations, and for
precisely the same purpose-the
protection of the general public.
Just as it is not desirable that
corporation shall be allowed to impose
Undue exactions upon the public" he
declared, $50 it is not desirable that
LABOR organization shall be permitted
70 exact unfair terms Of employment
or subject the public to actual dis
tfesses IN order to enforce it's terms"
The President left no doubt in the
minds of his audience that he was
strong for compulsory arbitration,
saiong much the same lines as the
Kansas Industrial Court made famous
oy Governor Henry j. Allen.
Boycott Out of Place"
certainly the labor leaders got this
view, and Samuel Gompers, president
o. the American Federation Of Labor,
ssued vigorous statement tonight
eritlcizing the Presidents ideas with
..egafd to labor regulation, and saying
shat 1t carried the history of the labor
movement back 400 years.
IN an industrial society such as
ours the strike, the lockout and the
pooycett are as much out of place and
as disastrous in their results as is war
or armed revolution in the domain of
! ponies" the President declared, urg-
ing The adoption of "thoroughgoing
code of practice" and the setting up
81 judicial or quasi-judicial tribunals
lor the consideration and determina-
.lon OF all disputes which menace the
public welfare
noioing tnat necessity demanded the
overriding OF difficulties in tariff legis-
alton, the President suggested scale
more flexible and elastic than ordinary
N order that rates may be adjusted to
.ieet the unusual and changing condi-
aoas which cannot be accurately antic-
IN, IN order to meet certain "problems
,asiuent to unfair practices and to ex-
s"aages, which madness in money has
,aaae almost insolvable," the President
sssommended the extension of the pow
s's Of the Tariff Commission $50 that
M,ean adapt itself to g. scientific and
sagp'ly g,y Just administration of the law"
ne President pressed strongly, also,
MI NJ, speedy action by Congress to per-
~ the refunding of foreign debts to
ne United States, pointing out that
Continued on next pags)