The New York herald., 1921-12-07


! upon policies In tho conference
which supplements conventions and
election CampaiEns and then strive
Tor achievement through adherence
10 the accepted policy.
There Is vastly greater security.
immensely more of the national
viewpoint. much larger ana prompter
accomplishment where our divisions
are along party lines. IN the broad
I and lofiier sense. than TO divide
I geographically or according 10 par-
suits or personal following.
For century and third parties
have been charged with RESPONSE
billty and held 10 strict accounting
When they fan they are relieved OF
authority, and the system has
brought us 10 a national eminence
no less than a world example.
Necessarily legislation Is a matter
of compromise. The full ideal Is
seldom attained. In that meeting
Of minds necessary TO insure results
there must and will be accommoda-
tions and compromises, but in the
estimate OF convictions and sincere
purposes the supreme responsibility
| to national interest must not be
| ignored. The shield 10 the high
minded public servant who adheres
to party policy is manifest. but the
! higher purpose is the good OF the
Republic as a whole.
1t would BE ungracious 10 withhold
| acknowledgement OF the really large
volume and excellent quality of work
accomplished by the extraordinary
session of Congress which so re-
Gently adjourned. l am not un-
mindful of the very difficult tasks
with which you were called to deal,
and no one can igrore the ,nsistent
conditions which. during recent
years, have called for the continued
and almost exclusive attention OF
your membership TO public work. II
would suggest ins'ncerity II l eX-
pressed complete accord with every
expression recorded III your roll calls,
but we are all agreed about me diff
culties and the inevitable divergence
of opinion in seeking the reduction,
amelioration and reedtlstment of the
burdens Of taxation. Later on,
when other problems are solved, /
shall make come recommendation
about renewed cons liberation of our
tax programme. but for the imme-
date time before us W e must be con-
tent with the billion dollar reduction
in the tax draft pm the people, and
diminished irritatiCns, banished un-
certainty and improved methods of
collection. BY your sustainment of
the rigid economies already inaug-
urated, with hoped for extension OF
these economies and added efiicien-
cies in administration, / believe fur
ther reductions may be enacted and
hindering burdens abolished.
In these urgent economies we
shall be immensely assisted by the
budget system, for which you made
provision in the extraordinary ses-
sion. The first budget is before
you. It's preparation is a signal
achievement, and the perfection OF
the system, thing impossible in
the few months available for it's
initial trial, will mark it's enact
ment as the beginning of the great
est reformation in governme ntal
practices since the beginning OF the
republic.
There Is pending grant of au-
thority to the administrative branch
of the Government for tho funding
and settlement OF our vast foreign
loans growing our of our grant of
war credits. With the hands OF the
executive branch held impotent to
deal with these debts we are hinder
ing urgent readjrstments among our
debtors and accomplishing nothing
for ourselves think 1t is fair for
the Congress to assume that the ex-
ecutive branch of the Government
would adopt NJ mAJC- policy in deal
Ing with these matters which would
conflict with the pun pose of Congress
in authorizing the loans, certainly
not without asking Congressional
approval, but there are minor prob
lens incident to prudent loan trans
actions and the safeguarding of our
interest which coInot even be at
tempted without this authorization.
1t will be helpful TO ourselves and
will improve conditions among our
debtors II fun ling and the settle
ment of defaulted interest may be
negotiated.
The previous Congress, deeply con-
cerned in behalf of our merchant ma
rine, in 1920 enacted the existing
shipping law, designed for the up
building of the American merchant
marine. Among other things pro-
vided to encourage our shipping on
the worlds seas, the Executive wass
directed to give notice Of the ter
mination OF all existing commercial
treaties in order to admit OF reduced
duties on imports carried in Ameri-