Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-07-22
Friday, July %. 1921.
GIVE A FULL MEASURE

GIVE a FULL MERSOhG
Those who nave been readers OF
the Democratic as well as Of the Re-
publican press must have been I'M
pressed by the approval OF the Hard
ing administration which some OF
.ne. Democratic editors have felt
compelled to give. An intelligent
public insists on recognition OF hon
st cfici. w},eii convinced Of it. PEG
ple came tut sec what a tremendous
EcrA licr,. : 10 be dore: The re-
vision o. the tax system, settle ner
III liic tariff. reduction ot government
cyI,r,.tIrr, reorganization OF the
c;;n.bCi>clnr Federal machinery. -
ia.!4s.4n~ = meIran tne marine, re
luntim:. 9: .crci.I loans, relief ot the
N""iu from armament burdens aad
the restoration 6: stable conditions
throu- hDu: fhe Y Grid. = viii re-
qutIv the s"pport Of every citizen ii
j, & 10 u, done as il should he
H. ~ address before III associak
uun Of business men in Chicago the
cthtr day MI Hoover speaking on
this matter of rcconstruction said:
This IS The fourteenth industrial
depre ssiun that NE have suffered
SINCE thc Civil War. We have come
~ ~
". have today greater resources and
NO less courage. skill, on intelligence
than When we met these disasters
before We do have two forces work
ing in the country Of a quality never
experienced hitherto First, We have
now Il proved financial system that
has saved us from the terrible des-
truction of monetary panic that
would otherwise have accompanied
80 tremendous tall in values. Sec
ond, we have higher sense of Serr
ice. a wider spread willingness to
give aid to the injured in business
Thousands Of firms whose cases
seemed hopeless months ago are on
the road to safety.
If we would study the cause OF
this depression and the remedies for
il, we should devote our time to the
examination of the economic phe-
nomena of the war and of the post
war boom. From the war we have
the necessity to recover many losses
and to change our productive forces
in accordance with the tremendous
economic shifts in the world. Spread
ing over all this. however lies the
fact that this depression is to a great
degree horn OF the malevolent forces
VIC set in motion by imitation and by
all booms. 1t is in the booms that We
speculate, over extend our liabilities
Slacken down in effort. lower our eff
ficiency. waste our surplus in riotous
living instead of creation OF new
capital drive our prices to vicious
levels, lose our moral and business
balance. We must suffer period oil
duress from war. and punishment 70,
the boom. and only until we rebuild
our virtues Of hard work, frugal liv-
ing. more saving. sober conduct, high
err honesty. These things are tritt
enough but they are as mmutable as
history ard they are the only way
out. There are a few people who viii
not accept these hard facts. who vii
PERSIST in the notion that they car
by various devices avoid rea pins
what ,he, bo,o so,,o6 tn w
sistanoo az , rov. ,,ro,, ,t
farturArs ar Ie,lars 10 Iou.ori,,,
r,,,icos to ,l,e ,onaral ro,.oI. ,ho We
eietaros of . fo,,, oro,,ns of ,,.,,,,a,,,
,n recommendation af ,hoi, - .
,bo decrc.,ei,. ,os4 30 r,.; , ~.
recosc;t,- re- , t,o..o, aa,.,. -,.1,,1. ~,
r.r,,,1 or co,, o,',o
,Lejr ,vapance al, met CON
,Iih,:tc 70 ,,,~ u,do;nn ,rho,. ha,.,
10 CON, into +ho coi,l r..a, :; a.,
INV Wv WV water III tH'