New Mexico state record. (Santa Fe, N.M.) 1914-19??, 1921-08-26

PuiSHdSc paper without RECOURSE. |
is authorized to advance monies Oh
| exports.
With this relief there will be ampl,
opportunity to preserve our live stool
industry. We shall be able to Sc
cure such aid as will enable us to ger
by this crisis.
), 1t is natural that a crisis SHOULD
exist as a result of the war. Prior tc
March, 1920, costs were exceedingly
high. Both the stock grower ant
the farmer were obliged to borrow
monies at the banks upon. high va
iuations. The grower of wool Dor
rowed money on sixty-cent wool
The grower of cattle borrowed money
on $40 yearling steers. The grower
of wheat borrowed money on 500
wheat. By reason of the sudden cur
tailment of credits in March 1920
the wheels of industry suddenly stop
ped. The demand for all kinds OF
products ceased. The sixty-cent wool
came down to II cents, the $40 year
ling came down to $40 and the s.
wheat was cut to a third part, The
producer was left with his obliga-
tions in the bank and in order to re-
pay he is required to produce three
times the amount of wheat, four
times the amount of wool and twice
as many steers. 1t cannot be done
III a season.
The agricultural relief bill will per-
NIT these great industries to carry
on until we can come back into our
own and by economy and thrift and
saving restore once again in this
country times of prosperity.
The Tariff Legislation
The emergency tariff viii be ex-
tended probably for six months.
There will be no permanent tariff
legislation during the special session
OF congress.
The Vast Tax Reduction
The next proposition which will be
taken up will be the revenue bill pro-
viding for taxation. This measure
will be greatly modified. The taxes
will be much reduced and there will
be fewer entanglements and %confus-
ing technicalities in the enforcement
of the revenue laws OF this country.
(~applause).
The senate has passed the Shop
pard Towner Welfare bilh (~applause).
| have no doubt that it will pass
the house. 1t was my pleasure to
support this bill. | think it will be-
come law during the special session
of congress.
Indemnity for the Soldiers
The Soldiers Compensation act was
brought out of committee, but at the
request of the president it was re-
committed. | voted for the bill. |.
believed, and still believe, that the
soldiers are entitled to an adjusted
compensation (applause), As the
soldier was drafted to carry a gun
at $50 while his brother remained
in this country and worked in other
pursuits for the government at very
wages, | believe it only fair that
do something toward evening
things up for the boys who fought
in the war. This bill will pass. It
is only a question of time.
President Not Opposed
The president is not opposed to Civ
ing the soldier boys an adequate adj
compensation. 1t was simply
a question of finance, a question of
whether the appropriations required
BY the adjustment compensation act
should be provided in the revenue bill
by taxation, or be secured out OF
settlements of Indebtedness to this
from the allies, such indebt-
amounting to some ten billion
plus a billion dollars interest.
The president realizes that it may be
lone in the latter way without i'm
upon the citizenship of the
a direct tax in order to meet
he appropriation required. Under
he bill which was pending in con-
there would be no payments !
or two years, as | recall. II the
ption of taking the cash basis be ex-
.rcised it would be paid in install
nents of $50 for each three months. {
1t is my opinion hat the bill will {
ass and that the actual payment will
.ot be long delayed. I
This indebtedness OF our allies {
hould be adjusted. 1t can only be ,
by authority Of congress. v
legislation is now pending 10 author J.
ze the secretary of the treasury to s
make these settlements and to re- d
ind the foreign debt. When the re- b
is made then a portion OF c
hat debt may be used to advantage G
| providing the appropriations requir- Il
d by this bill. There is no mar L
lore appreciative of the services Of Il
ne boys who risked their lives to o
l%aintain the integrity OF this country 4
{ ours than President Warren G. a
(applause). h
Relief First for the Disabled i
You know that there are now on b
he rolls of the War Risk Bureau G
early four hundred thousand disab- !
d veterans. The nation is expend- j
g in their aid four hundred mil d
annually and the disabilities are CT
on account of the effects y
gassing. which seems to promote n
lberculosis. There is an alarming m
of tubercular cases among q
Ie soldier boys all over this coun- q
v. OF course we all appreciate the &c
,ligations of the nation to the dis
lied soldiers. They must be taken .
re of first. They have the first II
en- on this country, Whether 1t is
kes four hundred millions or four m
or takes the shirt off the er
ok of every citizen, the disabled III
'terans must be taken care of Zap az
ur
| introduced a bill to retire disabled 1
nergency officers when having a Ia
of 30 per cent permanent m
the same basis as the regular tn
my officers. 1t appealed to me as pa
ing the just and right thing to do. w