The daily times., 1921-09-02
HELD UNEMPLOYMENT
Business Men Want to Know
What Their Taxes Are Co
ing to be Before They Re-
open Their Factories or En-
large Their Business and
Thus Give Employment.
{By David Lawrence.
Copyright, 1921, by The Daily
Times


Washington, Sept. 1.-The under
lying purpose of the unemplo, ment
conference called by President Hard
ing is to get Congress employed. The
Administration realizes that unless
! the Republican majority gets busy
and passes the legislation which is
needed to stimulate business through
out the country the number of jobless
| folk will increase instead of dimin-
| ish this winter and the congressional
elections next fall may develop con-
siderable danger for the party in
power.
| Congress is taking a vacation at
i present and the administration re-
luctantly consented to the recess. But
when both houses reconvene the drive
will begin to clear the calendar of
the vital measure which most every
[ body believes will mean better indus
| trial and business conditions. Few
officials can be found who think the
mere calling of an unemployment
conference can produce jobs for the
idle or food for the hungry. The
most that can be accomplished is the
| collecting of data as to the true con-
| ditions of unemployment and the lay
! ing of that data conspicuously on the
doorstep of the Capitol as a sort of
mute warning to the Republicans
! that theirs is the responsibility for
, action on pending bills. 1t is for the
psychological effect that the confer
ence is being called.
| President Harding wants Congress
to do several things which in his
opinion will speed the return to
normalcy.
| First, the President wants the
pending treaties with Germany and
Austria ratified so that Americas s
foreign relations will be clarified
and trade resumed with Central Eu-
rope.
| Second, Mr.. Harding wants auth
ority given at once to Secretary
Mellon to arrange with the Allies for
the payment of interest and principal
on the ten billions of dollars owed
US. Thus it is hoped that by definite
| ly fixing the time of payments the
Allies will be able to calculate upon
the amounts they must set aside
every year toward the payment of
1.-THE debt and when the Allied gov
lernments begin to finance themselves
;on a definite basis the value of their
currency will increase and interna-
itiona1 exchange which is the basis
of all trade will tend to become
lequalized. With exchange improved,
the purchasing power of Europe will
gradually return. Once the purchas-
ing power of Europe is restored,
American surplus goods can be ex-
ported and the firms which have
closed down their factories will want
to reopen them so as to supply Eu
rope. Indeed the international bank
ers who have favored the league OF
nations and American cooperation
with Europe in matters of finance
| nave argued tHdI ldCIOI1So
would never have closed down If two
years ago the United States had rati-
fed the Versailles treaty and entered
into closer financial relationship with
Europe. However that maybe, the
fact is the same argument is being
made now in behalf of the Hughes
Knox treaty, namely that ratification
will stabilize economic conditions"
in Europe and thus help America to
sell her goods.
Third, Congress has been vainly
urged to authorize the War Finance
Corporation to use it's funds to pay
the railroads certain sums owed
them. This, it has been contended,
would mean the placing of half
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