Evening star., 1921-04-12
tceatinued,a from First pase.)
than paralyze our farm activities
in the world struggle for restored
exchanges. -.

exchanges. -
Based on Protection.
The maturer revision of our tariff
laws should be based on the policy
OF protection, resisting that selfish
ness which turns to greed, but ever
concerned: with f1sat productivity
at home which is the source of all
abiding good fortune. 1t is agreed
that we cannot sell unless we buy.
but ability to sell is based on home
development and the fostering of
home markets. There is little
sentiment in the trade of the world.
Trade can and ought to be honor
able. but it. knows no sympathy.
While the delegates of the nations
at war were debating peace terms
at Paris. and while we later de-
bated 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. 1t was wholly proper,
ehO mas UCCH shA oHtdSVVuS "
them. Tardy as We are, it will be
safer to hold our own markets
secure, and build thereon for our
trade with the world. -
A very important matter is the
establishment of the governments
business on business basis. There
was federation of the easy-going,
unsystcmatic method of handling
our fiscal affairs when indirect
taxation held the public unmindful
Of the federal burden. But there is
knowledge Of the high cost of gov
ernment today, and high cost of i;
living is @inseparabay linked with
high oSst of,sgovernment. There
can be 'ne~complete correction of
the high living cost until govern
ment's cost is notably reduced.
., Conmends Budget System.
Lot me most heartily commend
fhe enactment of Legislation pro-
viding for the national budget sys-
taHi.s Congress has already re-
corded its belief in the budget. 1t
will be very great satisfaction to
know of it's early enactment. so
that it may be employed in estab-
fishing the economies and business
methods so essential to the mini
mum of expenditure.
l have said to the people we
meant to have less of government
In business as we'll as more bust
ness in government. 1t is well to
have it understood that business
has a right to pursue its normal,
legitimate. and righteous way un-
impeded. and it ought have no call
to meet government competition
where all risk is borne by the
public Treasury. There is no chal-
leEge to honest and lawful busi-
ness success. But government ap-
proval of fortunate. untrammeled
business does not mean toleration
Of restraint Of trade or of main
tained prices by unnatural meth
eds. It is well to have Legitimate
business understand that just
government. mindful of the inter-
ests Of all the people. has a right
to expect the cooperation of that
legitimate business in stamping
out the practices which add to un-
rest and inspire restrictive legis-
lation. Anxious as We are to re-
store the onward flow of business,
1t Is fair to combine assurance and
warning in one utterance.
One condition in the business
world may we'll receive your in
quiry. Defiation has been in prog
fess. but has failed to reach the
mark where it can be proclaimed.
to the great mass of consumers.
Reduced cost of basic production
has been recorded. but high cost Of
living has not yielded in like pro-
portion. For example. the prices
Of grains and live stock have been
debated, but the cost of bread and
meats is not adequately reflected
therein. 1t is to be expected that
non-perishable staples will be slow
In yielding to lowered prices. but
the maintained retail costs in per-
bhable foods cannot be justified.
Asks fer Trade Report.
have asked the Federal Trade
Commission for a report of its OBJ
servations, and it attributes. in the
main. the failure to adjust consum
ers' cost to basic production costs
to the exchange of information by
'open-price associations" which
operate, evidently. within the law.
to the very great advantage of
their mem bers and equal disadvan-
tage to the consuming public.
Without the spirit of hostility or
haste in accusation of profiteerfng,
some suitable inquirysby Congress
might speed the price readjustment
to normal relationship. with help
fulness to both producer and con-
sumner. A measuring rod of fair
prices will satisfy the country and
give US a business revival to end
all depression and unemployment
The great interest of both the
producer and consumer-.ndeed all
our industrial and commercial life.
from agriculture to finance-in the
problems of transportation will
find its reflex in your concern to
aid re-esta.blishment.t to restore ef
fciency, and bring transportation
cost into a helpful relationship
rather than continue IL as him
drance TO resumed activities.
II is little to be wondered that
iil-considered legislation. the war