Evening star., 1921-09-26
Text Address
BythePreSident

Ladies and Gentlemen of the Con-
ference:
1t is a pleasure TO express to you
in advance of your labors the graft
tude of the government for your
service to the nation. Perhaps it is
not too much to say. service to
the world. Not so very long since
l was receiving the call of a dis
tinguished foreigner. and in the
course of our conversation he al
luded to the conference which is
met this morning and said: "Mr.
President. our people are deeply in
terested in the American confer
ence on unemployment. because our
problem is akin to your own. and
your relief in the United States
will be an added signal of hope
from America to us and other peo-
pies who are alike depressed
That remark of a distinguished
foreigner emphasized our RESPONSE
bility. If it be true that no citizen
is without example to some one
among his fellows, which 1 believe
to be everlastingly true. then ma
tions, great and small, are influence
ing others in all they do.
Says Condition Ii General.
You are invited together to con-
slider condition which il in no
wise peculiar to the United States
The industrial depression which
we are feeling is a war inheritance
throughout the world. We saw
humanity stressed in, that prOduc-
tion which is irpelled by nations
desperate in self-preservation. We
saw the Industrial call to arms
which marShaled the family as
we'll as the accustomed, bread-win-
ners and we saw the spiritual.
mental and physical might of the
people cast in the scales measuring
the might of the republic. From
such test there is inevitable re-
action. To such heights there is
necessary ascent and inescapable
descent. With the world involved
world from the valleys of depres-
sion. Though We suffered less than
many of those with whom we were
associated. and less than any of
those against whom we contended,
it was inevitable that We should
experience the fever's aftermath,
and come to know depression be-
fore we could become normal
again.
Liquidation, reorganization, re-
adjustment, re-establishment, TAX
ing account of things done and the
sober contemplation of things to
be done. the finding of firm ground
and the open, sure and onward
way-all these are part of the
inevitable. and he who thinks they
might have been avoided by this
plan or that, or this policy or that,
or this international relationship
or that, only hugs a delusion. when
reason is needed for safe counsel.
Finances Unbalanced.
Even though the worlds store
houses were depleted, at the same
time the finances were unbalanced,
and none was ready to store a war
crop for the more deliberate con-
sumption of peace. Momentarily
there was elation, but it was not
the glow of abiding health We mis-
took elation for restoration, today
we are met in realization. You have
been summoned to counsel all Ameri-
ca to apply your knowledge and
your experience in relieving a con-
dition which concerns all America
Specifically, you are to deal with
unemployment. to suggest the way
of repairing the arterial circulation
which is the very life blood of the
republic.
There is always unemployment.
Under most fortunate conditions, l
am told. there are a million and a
half in the United States who are
not at work. The figures are as
founding only because we are hun
dred millions. and this parasite per-
centage is always with US.
But there is excessive unemploy-
ment today. and We are concerned,
not alone about its diminution, but
we are frankly anxious. under the in
volved conditions, lest it grow worse,