Milford chronicle., 1921-02-25
LEFT FARMERS IN A HOLE

'The quality of craftsmanship which
has characterized the Wilson Admin
istration is fairly well illustrated by
the interview given to the press re-
Gently, by William G. (Quitter) Nc
Adoo relative to the effect of dedation
upon the agricultural interests of the
country" says the Republican Pub
licity Association, through it's presi-
dent, Hon. Jonathan Bourne, Jr. "Says
4 Mr.. McAdoo, AS I see the situation
the country can not look with indiffer-
ence upon the distressing situation in
which the farmers find themselves
Mr.. McAdoo's inference that the coun-
! try is looking with Indifference upon
/ the distressing situation is neither
complimentary to the country nor to
himself The country has not looked
with Indifference and Mr.. McAdoo
convicts himself of being out of touch
with public affairs when he indicates
the opinion that such Indifference has
existed.
"He also says, I am frank to say
that think that the policies thus far
pursued with respect to credits have
been too drastic All of the policies
which have been pursued were adop-
ted and put in operation before the
November elections. In fact, those pol
-icies had done the greater part of
their disastrous work long before the
close of the campaign, yet Mr.. McAdoo
was out on the stump prior to the
election urging an endorsement of the
present administration by the reten-
ton in power in both the legislative
and the executive branch of the gov
ernment of that party which had
brought about the deplorable condi-
tions which now exist.
''Mr. McAdoo was formerly Secre-
tary of the Treasury, and by virtue of
that position head of the Federal Re-
serve System which was chiefly in
strumental in determining the char
acter of deflation the country has ex-
perienced. It was largely under Mr..
McAdoo's administration that the in
fation process was conducted. 1t was
under his administration that large |
portion of the paper money was out
in circulation. It was due largely to
his encouragement that costs of pro-
duction were increased and prices in
dated After this had been accom-
plished with his connivance he sud-
denly resigned his position as Secre-
tary of the Treasury and head of the
Federal Reserve System and left the
problems of reconstruction to others.
His only excuse for deserting his high
position at a critical period was that
he desired to make more money.
-
agree with the policies that have been
pursued by his successor. By that
he convicts himself of
1eserting his/ country in the time of
leed and permitting to be inflicted
lpon the agricultural interests the
policies which have been
adopted. 1t is estimated that the
Osses Of the farmers have aggregated
3, 100000. There is no means of
how much money Mr.. Nc
Adoo has been able to make since he
luit the office of Secretary of the
Treasury, but it must have been con-
iderable if Mr.. McAdoo can consid-
# it an adequate recompense for the
losses the farmers have
ustained by reason of the adoption |
# the policies of his successors ra-
her than the continuance of those he )
Tould have pursued if he had contin-
led at his post.
1--WE do not say that Mr.. McAdoo !
vould have governed more wisely than
ave his successors. Mr.. McAdoo says
his for himself when he criticizes
he policies his successors have adop- !
ed. 1t is unnecessary to attempt to 3
onvict him of subjecting the country .
D the losses which have followed the :,
nwise policies Of the present incum- =
ents Of the Treasury Department, for
If. McAdoo conyicts himself when he =
the manner in which they =
ave performed the duties of the office a
e deserted"
Milford ChronicIe want aD6 Ro, II