Evening star., 1921-03-04

materials. Nations are Still CROP
ing for return to stable ways.
Discouraging Indebtedness con-
fronts us like all the war-torn ma
tions. and these obligations must
be provided for. No civilization can
survive repud
We can reduce the abnormal ex-
penditures and we will. We can
strike at war taxation and We
must. We must face the grim ne
cessity, with full knowledge that
the task is to be solved. and we
must proceed with a full realiza-
tion that no statute enacted by
man can repeal the ineXorable
laws Of nature. Our most danger
Gus tendency is to expect too much
of government and at the same
time do for it too little.
We contemplate the immediate
task of putting our public house.
hold in order. We need a rigid and
yet sane economy, combined with
fiscal justice, and it must be at
tended by individual prudence and
thrift which are SO essential to
this trying hour and reassuring
for the future
Reelection Of Wars Reaction.
The business world reflects the
disturbance of wars reaction.
Herein flows the life blood of ma
terial existence. The economic
mechanism is intricate and it's
parts interdependent and has suf-
fered the shocks and jars incident
to abnormal demands. credit in
flation and price upheavals. The
normal balances have been impair
ed. the channels of distribution
have been clogged, the relations
of labor and management have
been strained. We must seek the
readjustment with care and cour-
age. Our people must give and
take. Prices must reflect the re-
ceding fever of war activities
Perhaps we never shall know the
old levels of wage again because
war invariably readjusts rompen-
sations and the necessaries Of life
will show their inseparable rela-
tionship. but we must strive for
normalcy to reach stability. All
the penalties will not be light nor
evenly distributed.
There is no way of making them
so. There is no instant step from
disorder to order. We must face
acondition of grim reality, charge
off our losses and start afresh. 1t
is the oldest lesson of civiliza ton.
l would like the government to do
all it can to mitigate them. In
understanding. in mutually of in
terest. in concern for the common
good our tasks will be solved
No altered system will work a
miracle. Amy wild experiment will
only add to the confusion. Our
best assurance lies in efficient ad-
ministration of our proven system.
From Destruction to Production.
The forward course of the busi-
ness cycle is unmistakable. Peo-
pies are turning from destruction
to production. Industry has sensed
the changed order and our own
people are turning to resume their
normal onward way. The call is
for productive America to go on.
1 know that Congress and the ad-
tot
government policy to aid the re-
sumption and encourage continued
progress.
l speak for administrative eff
cheney, for lightened tax burdens,
for sound commercial practices, for
adequate credit facilities. for SYM
pathetic concern for all agricultu-
raj problems, for the omission of
interference of gov
ernment with business, for an end
to governments experiment in
business and for more efficient
business in government adminis-
tration. With all of this must at
tend mindfulness of the human
slut VI ali dCliNltteS 81 llldl SoCldt,
industrial and economic justice
will be squared with the purposes
of a righteous people.
With the nationwide induction
of womanhood into our political
life, we may count upon her intui-
ton, her refinement, her intelli-
gence and her influence to exalt
the social order. We count upon
her exercise of the full privileges
and the performance of the duties
of citizenship to speed the attain
ment of the highest state.
Prayer for Industrial Peace.
l wish for an America no less
from within than it is watchful
against enemies from without
Our fundamental law recognizes
no class, no group, no section.
There must be none in legislation
or administrat ton. The supreme
is the common veal
Humanity hungers for interna-
tional peace and We crave it with
all mankind. My most reverent
prayer for America is for indus
trial peace with its rewards wide
ly and generally distributed amid
the inspirations of equal oppor-
tunity.
No one justly may deny the
equality of opportunity which
made us what we are. We have
mistaken unpreparedness to en-
brace it. to be a challenge of the
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