Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-08-22

I The world looks to the Unite
States today as never before 70
her encouragement and assistanc
in bringing about normal condi
tions. This is no time for partisan
strife. There is just as much nee,
for the patriot today to stand VI
and do his share toward bringin,
about this reconstruction as Their,
was to win the war Applause
and 1t can only be brought abou
with that sort of a spirit.
What Relief Bill Does.
Under the provisions of the ag'
ricultural relief bill the war fl.
nance corporation is authorized tC
loan, without limit, to banks, trust
companies or any other kind Of fl.
nancing corporation, monies Sc
cured by agricultural commodities
| or livestock. 1t is authorized in
exceptional cases to purchase pa
per without recourse. 1t Is author
lied to advance monies on exports.
With this relief there will be am
| pie opportunity to preserve our
livestock industry. We shall be
| able to secure such aid as will en-
able US to get by this crisis.
1t is natural that a crisis should
exist as a result of the war. Prior
to March, 1920, costs were exceed
ingly high. Both the stock grower
and the farmer We're obliged to
borrow monies at the banks upon
high valuations. The grower of
wool borrowed money on sixty
cent wool. The grower of cattle
steers. The grower of wheat bor-
rowed money on SO wheat. BY
reason of the sudden curtailment
of credits in March, 1920, the
wheels of industry suddenly
stopped. The demand for all kinds
of products ceased. The siXty-cent
wool came down to IL cents, the
$40 yearling came. down to $40
and the SO wheat was cut to a
third part. The producer was left
with his obligations in the bank
and in order to repay he is re-
quired to procure three times the
amount Of wheat, four times the
amount of wool and twice as many
steers. 1t cannot be done in a
season.
The agricultural relief bill will
permit these three great industries |
to carry on until we can come
back to our own and by economy /,
and thrift, and saving restore once
again In this country times Of pros
perity.
The Tariff Legislation.
The emergency tariff bill will be |
extended probably for six months. |
There will be no permanent tariff |
legislation during the special ses-
sion of congress.
The Vast Tax Reduction.
The next proposition which will |
be taken up will be the revenue
bill providing for taxation. This
The taxes will be much reduced
and there will be fewer entansle-
ments and confusing technicalities
In the enforcement Of the revenue
laws of this country. (Applause.)
The senate has passed the Shep-
pard Towner Welfare bill, Cap
plause). I have no doubt that it
will pass the house. 1t was my
pleasure to support this bill.
.hink it will become law during
he special session of congress.
Indemnity for the Soldiers.
The soldiers compensation act
was brought out of committee, but
1T the request of the president it
vas recommitted. I voted for the
dill. | believed, and still believe,
hat the soldiers are entitled to
In adjusted compensation Cap
olause) AS the soldier was draft
ID to carry gun at $50 while his
brother remained in this country
md worked in other pursuits for
he government at very large wag
IS, I believe 1t only fair that we do
toward evening things
lp for the boys who fought in the
var. This bill will pass. 1t is only
question of time.
President Not Opposed.
The president is not opposed to
living the soldier boys an adequate
compensation. 1t was
imply a question of finance.
uestion OF whether the appropria-
ions required by the adjustment
compensation act should be pro-
ided in the revenue bill by taxa
ion. or be secured out of settle
rents of Indebtedness to this coun-
ry from the allies, such indebted
ess amounting to some ten billion
ollars, plus a billion dollars in
crest. The president realizes that
may be done in the latter way
,ithout imposing upon the citizen
hip of the country a direct tax in
rider to meet the appropriation S,
equired Under the bill which
as pending In congress there
'ould be no payments for two
ears, az I recall. II the option OF
liking the cash basis be exercised ,,
would be paid in installments of
so for each three months.
1t is my opinion that the bill will
ass and that the actual payment
ill not be long delayed.
This Indebtedness of our allies
iould be adjusted. 1t can only be
1justed by authority of congress.
egislation Is now pending to au-( :
lorize the secretary Of the treas !
ry to make these settlements and /.
, refund the foreign debt. When :
lie refunding is made then por- :
on of that debt may be used to :
vantage IN providing the appro- !
riations required by this bill. :
here is no man more appreciative i
the services of the boys who .
sked their lives to maintain the T
tegrity of this country of ours +
IAN President Warren G. Harding. !,
Applause.) =
Relief First for the Disabled. r
You know that there are now on !
10 rolls of the war risk bureau 2
,arly 100000 disabled veterans.
he nation is expanding in their
d s400,000,000 annually and the e
satellites are increasing on ac- S
unit of the effects Of gassing, D
hich seems to promote tubercu- /,
sis. There is an alarming In t
ease of tubercular cases among |,
q soldier boys all over this coun- o