The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-07-06
PRESS COMMENT
Cox Hits New Fesin e.

"A severe indictment of the admins
tration is that preferred by former
Gov. Cox. Condensed into a single
word, the charge is simply one of in
capacity. The country suffers while
those in authority dawdle and hesi-
tate. Little in the way of definite
policy has been undertaken, and that
little wrong. 1t is shown that the
speech of Ambassador Harvey refus-
Ing any form of practical American
cooperation in the readjustment Of
world conditions fell like a wet blan-
ket on financial and economic enter
prise. Nothing, according to Governor
Cox, has saved the country from a dis
astrous panic but the timely service
of the federal reserve system.
That the attempt to embark upon
purely selfish policy of isolation is de-
feating its own purpose is clearly in
dicated. This country cannot prosper
with the balance of the world in ruin
And the balance of the world will re-
cover very slowly, if at all, without
American cooperation. United we
stand; divided we suffer together. For
once, at any rate, It is shown that the
ideal and the practical are in agree
ment as matters of policy. But how
slow are certain material interests TO
grasp the point.
Traditionally. the republican party Is
servant of special interests which, as
intimated by Gov. Cox, have furnished
its war chest. An attempt is now in
progress to return to the old time prac-
tice of awarding and distributing the
spoils. The impression is gaining
Roadway however, that the ancient
program is no longer to be relied on.
Fortune is breaking adversely. What
to do, no one seems to know, hence
the hating, drifting situation. The
administration, as well as the country
is in dire need of a Moses.
Not only Gov. Cox says, that but for
the federal reserve system we would
have had panic-it is the opinion OF
many. In a recent article on business
conditions the Nation says that the
conduct of the banks of the country
has saved US from calamity. We
could have not fought the war sue
cessfully but for the federal reserve
system. We could have not met the
recent reversal OF conditions with SO
little strain but for the closely co-oE-
dinated financial institutions, organ
lied under government control and en-
powered to issue currency on notes
to relieve any situation.
The only saving grace of the pres
ent situation is due to this democratic
administration legislation. The re-
publicans have not dared tamper with
it. They promised that taxes would
be reduced and prosperity would be
restored. They havn't done it. About
the only measure of Importance they
have had passed was the emergency
tariff act. Under that lemons have
advanced on the New York market
from 81 to IS a case. No lemons are
grown in Tennessee, or any of its
neighbor states, or in any states Of
the Union, except two, and not very
many in those, but all the people of
the United States are taxed for every
lemon they buy just to keep out any
foreign lemons. That's the republican
idea of taxation. Tax the many for
the benefit of the few. The demo-
cratic idea is to legislate in the inter-
est of the greatest good to the great
est number.
The republicans will probably repeal
the excess profits act, after all the ex-
cess profits have been changed to ex
cess losses. Under the democrats we
had some excess profits to tax. The
greatest prosperity ever known in this
was under woodrow Wilson
and the vote last November was one
of those inexplicable anomalies in
American politics-Chattanoo News. |
Children at the Steering Wheels.
Frank McGrath, a prominent Ken
lucky democrat, was killed by an au-
tomobile on one Of the principal down
town streets of Louisville Monday.
The machine was driven by a thfr-
teen-year old boy. Therein lies a /
story.
According to the news story in The
Courier Journal, "a car going west on
Walnut street and operated by Lyman
Godfrey, 10 years old, started to turn
north on Fourth street. A motor truck
blocked the boys path. He was afraid
Of striking the traffic patrolrnan if he +
swerved in the other direction. The
boy became confused. and in attemp-
ling to stop he increased the speed Of
The car."Two other people We're in
iurcd before the machine touched Mr..
McGrath.
1t is the old story Of children driving