Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-04-20
WEDNESDAY APRIL 20. 1921.
Danish the lnquiSitiOn

\ so far as President Harding aided by
1 his Cabinet devotcs his energies to-
ard bringing about resumption OF normal
business conditions through legitimate eco
homie and legislative channels, the country
will commend him. When he oversteps the
legitimate lines. follows a course of pro-
cedure that was necessary during and per-
haps Immediately after the war and. flying
in face OF his own admonition that the gov
eminent must be kept out of business, at
tempts to set up still wider Federal inquis-
torial powers over private business, he will
be condemned.
The country is at one with the President
in his verdict that the food profteer, the
rent hog, the money gouger of every kind
and description who as a result of the money
mania during and after the war have be-
come money mad and now are standing he
tween the nation and renewal of prosper
ity, must go, but the end never will be
accomplished by constant interference with
business by the Federal government. That
Is not q governmental province, as the
wreckage left by the government in every
business structure il has attempted to dom
mate in the last few years easily demon
strates. The people do not want it. they
will not have il, they are convinced of its
economic unsoundncss and MIR Harding
should he warned before he proceeds fur
II
inGuisition for The law of supply and de-
:aand--a law which is not working only he
cause it has not been given opportunity TO
work.
If the President can persuade the business
men of the country to 20 forward once
more, If he can restore confidence III COM
mercc and revive trade on n large scale
he will have done the nation a service OF
inestimable value The fundamental facts
about American business, OF course. are that
this country is sound t6'.the core Physically,
IL came out Of the Mar absolutely un-
scathed. It has colossal resources. II could
live alone in the world if need be. and only
national fright or national dstrust can pre-
vent the American people from prospecting.
Mr. Harding must know all this.
| He must have realized that there is Il great
deal of plain psychology about the dcpres-
sion through which the country is passing.
and that lauch OF the inactivity observable
OH every hand is the direct result of a state
of mind. rather than the result of economic
conditions.
The President is represented as saying
2 that he fully realizes that there are limita-
tions upon the cSpalients the government,
as a government may adopt 10 improve
business conditions. This is undoubtedly
true. Taxes may be reduced OF course;
economy may be practced by the admins
2 trative departments; railroad rates Nigh,
conceivably be forced down by government
Z pressure; credit might be extended more
broadly by the Federal reserve bank. and
other stimulation Of like character might
be applied.
But the Federal government cannot work
miracles in connection with the business OF
the country. 1t cannot by mandate or fla,
comp! the small merchant TO buy large
the coai consumer TO store his winters
supply here and now or order the exporter
i. % go into foreign markets without delay
There are. however, certain things Tho
Government can do. and these thv Prcsiden,
hould do