Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-04-12
PRESIDENT HARDING
: ASKS CONGRESS FOR
PEACE DECLARATION
Continued From Page One.)

that productivity at home which is the
source of all abiding good fortune
e There is little sentiment in
the trade Of the world. Trade can and
ought to be honorable, but 1t knows no
sympathy. While the delegates of the
nations at war were debating peace
terms at Paris and while We later de-
bRted our part in completing the peace
commercial agents of other nations were
opening their lines and establishing their
outpOsts. with a forward look to the NOR
rows trade
"A very important matter is the estab-
lishment of the Governments business
on business basis. There was liberation
of the easy going unsystematic method
of handling our fiscal affairs when indi-
rect taxation held the public unmiHd-
full of the Federal burden. But there Is
knowledge Of the high cost Of govern
ment today and high cost of living is
inseparably linked with the high cost of
government. There can be no complete
correction of the high cost Of living I'M
til the governments cost is notably re-
duced.
COSDIENDs NATIONAL
BUDGET SYSTEM.
LET me heartily commend the enact
ment of legislation providing for the ma
tional budget system.
Il have said TO the people we meant to
have less OF government in business as
well as more business in government. 1t
is well to have il understood that bust
ness has a right to pursue its normal,
legitimate and righteous way, untmped-
ed, and it ought TO have no call 70 meet
government competition where all risk
IS borne by the public treasury. There
is no challenge to honest and lawful bust
ness success, but Government approval
of fortunate, untrammeled business does
not mean liberation of restraint of trade
or Of maintained prices by unnatural
,f h,T dc
DEFLATION HAS NOT
REACHED THE MASSES
"One condition in the business world
may well receive your inquiry. Della
ton has been in progress, but has failed
TO reach the mark where 1t can be pro-
claimed to the great mass of consumers.
Reduced cost Of basic production has
been recorded, but high cost Of living
has not yielded in like proportion.
Il have asked the Federal Trade Com
mission for a report of its observations.
and it attributes, In the main, the fail
ure to adjust consumers cost to basi ,
production costs to the exchange of in
formation by open price associations
which operate evidently, within the law,
TO the very great advantage Of their
members and equal disadvantage to the
consuming public. Without the spirit
Of hostility or haste in accusation of
prOfteeriug, some suitable inquiry by
Congress might speed the price readjust.
ment to normal relationship with helpful
ness too both producer and consumer.
"a measuring rod of fair prices will
satisfy the county and give US a bust
ness revival to end all depression and
unemployment.
1T is little to be wondered that III
considered legislation, the war strain
Government operation in heedlessness of
cost, and the conflicting programs. OF
the lack of them. for restoration have
brought about most difficult situation.
made doubly difficult by the low tide Of
business. All are SO intimately relatAi
that no improvement will be permanent
until the railways are operated efficient
" at a cost within that which the traffic
can bear.
IF We can have it understood that
Congress has no sanction for Government
ownership. that Congress does not levy
taxes upon the people 70 cover deficits In
a service which should be self sustaining.
there will be avowed foundation on
which to build.