The Birmingham age-herald., 1921-07-02
COX ATTACKS REPUBLICANS

Ex-Gov. James M Cox. in the Dayton l News.
 Babson, who is recognized as statistician and analyst of un- usual qualifications in economics has created profound impression. Ideal ism at times may fail to make any impression on tho practical thought | of the country. In the ultimate it 1 will, of course. The Influence of the purse, however, is unfailingly instan- l taneous. The purse nerve is highly strung. When conditions touch it, dogma and bigotry and fetich are sub- merged. The result of tho Babson pro- nouncement is but another case in point.
 If the American mind had been stripped clean to the human con. l scienee and counter-consideratio | sordid, political. prejudicial and oth- erwise had not entered into tho equa- tion, there would have been . very positive mandate issued at the polls last November in behalf of the noblest international principle that has ever been advocated in behalf of civilization. We go ono step fur ther; if the purely practical view had been honestly applied. those who might not ordinarily have been in- | would have realized the importance of concerted action. worldwide, in be- half of the whole economic situation.
 Nothing at this time is to be gained save in plain lanugage. In part the attitude of business in the last cam paign was not above unworthy mo- against the forms and volume of | taxation, and it was expressed in the sustained bitterness against Wood row Wilson. The Wilson haters were not enraged at him as a personality; taxes devel ped as obsession and it spread like an epidemic.
 Millions of dollars have not, throughout the years, been contrib uted to the reactionary cause from wholly patriotic purposes. They have always been regarded as an invest ment. and the slogan that business would bs better under a reactionary regime was born of experience be- cause preference had been showered upon certain interests by government tai policy.
 In the past the financial burdens of administration have been shifted largely to the mass, and the belief that it could be done again accounted for the almost hysterical support which business rendered to the re- actionary cause in the campaign of 1920.
 The statement that taxes would be reduced was doubtless based upon an honest belief by some. They failed, however. to recognize that these are unprecedented times. We cannot chart the future by the past. The interest and sinking fund charges on our na- tioral debt per year are as much as our entire indebtedness was at the close of the war between the states in 1865. In some manner a minimum of $5.o0o. 100000 must be raised to maintain the integrity of our obliga- tions and meet the current cost of government.
 4 That no change worth the name in | taxation policy ia possible is evi- denced by the embarrassment of the administration st Washington at the present time. Turn as it will to the many suggestions that have come, the ultimate realization is that the country has large financial burden to bear and very heavy taxes are in- } evitable.
 Mr. Babson accounts for the re- cent lowering of security values and the unfavorable trend of businesa generally from tho circumstance of kths speech made by Ambassador Harvey in London in which he said in plain meaning words that we were selfish nation; had acted from tha,
 impulse in the war that intended tc
 stick to our own .ffairs in the flu ture. If the habit of diplomacy thai has ruled throughout the years had
 been waived. the unfayorahls reac. Ition from the Harvey statsmeni