The Owosso times. (Owosso, Mich.) 1897-1926, 1921-01-28
A SORRY RECORD.

Washington, Jan. 70. - Inc
Democratic administration which is
now nearing it's close will long be
memorable in the industrial history
of the United States" declares the
Republican Publicity association
through its president, Hon. Jonathan
Bourne, Jr. "After eight years of
full control of the economic policies
of the Government that party will re-
linauish its management of affairs
with finance and industry in a state
of chaos. For their future guidance
in determining their action at the
polls it will be we'll if the people OF
the country keep in mind few fun
damental and important facts
During the past eight years the
Wilson administration has been
vested with power unprecedented IN
American history. The economic
laws which it enacted are still on the
statute books. 1t is still in full con-
troll of the administration Of those
laws. Statistics compiled by one OF
the leading Democratic newspapers
of the country show that the present
industrial depression was fore
shadowed by slump in the STOCK
market which began in November
1919 full year before the election
which determined the change OF
party administration. Statistics COM
piled by the same periodical show
that the slump in the values OF farm
products began early in June 192O
before either of the political parties
had held its national convention and
Eve months before the outcome OF
the election was known. Not by any
possibility, therefore, can 1t be al.
rued that the change in party controi
is in any way responsible for the
present industrial depression.
"Under the Democratic tariff law
millions of bushels of Canadian
wheat came into the American mar
ket early in the season supplying tne
immediate needs of American mills
and depriving the American farmer
of his market. AS a consequence
mills are not in the market to ouy
The American farmer cannot sell nj
grain for price that will cover tn
cost of production, and Throughout
the grain-growing section there
every indication that the plantln,
for 1921 will be diminished in area
Neither oats nor corn Will sell 10
enough to cover the cost OF produc
ton. and. according to reports, tn
latter commodity is being used 10
fuel. The cotton and tobacco pre-
ducers of the South are similarly EN-
barrassed and an extensive organlza
ton is under way for the purpose Q
restricting production Of both Q
these agricultural products durln
1921. There is reported to be a pi
lion pounds of wool in America
warehouses; there are millions upo
millions of pounds of foreign wo'
here or on the way here, and III
American sheep-owner is unable
coll either his wool or his shee
Prices which farmers are able to o
tain for other agricultural produc
are insufficient in corresponding q
gree. with the result that maint
nance of food production is serious
threatened at time when near
half the world is suffering Tor wa
of food. Moreover, through its CO
troll of the Federal Reserve Syste
and its consequent control OF cred
and the manner Of the exercise
that control, the administration \
largely brought about the prese
depression in values Of agricuitu
products. 49,. w,,.o,
During the war, the wilson
ministration had almost absoi'
control of every important line
industry. 1t fixed maximum pr
for wheat and controlled the marx
ING of that product. Through
war Trade Board, exports OF
commodities were under the con'
of the administration. The marx
inc of wool became a governm
function. Through its control
transportation the marketing Oh
-. y;ous domestic products was re
lated to suit the Judgment or W,
of the appointees OF Presio
Wilson. 81, - -. : a