The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1921-12-12
THE PRESIDENTS MESSAGE

Tho message Of the President delivered in person oeio
both houses Congress, and before an audience III WHICH many
e foreign representatives and advisors now III Washington vert
interested spectators and auditors n,;a Iaw
The message was sympaheticaly received ana as D"o Law
~ ~ sis one of the most remarkable documents even sent ny
the executive to the legislative branch Of the government
II is of such length and such comprehensive and vital char
acter that comment OF the most important p''p ~
ha reserved for another and for special treatment
number of subjects stand out with peculiar dsthc'hc anu
% form and color to message calculated to arouse opnon ana
precipiate hot debates and stirring fights in Congress
The Presidents proposal in treating the subject Oh tne 'ar
that Congress provide cxb the new law by extending W
mowers of the tariff that body can recommend changes
- M schedule 70 meet the uncertain conditions Of the Immediate
fuure will meet with muhsopposton in and out OF congress
More particularly will this be the ease when coupled WIN
the additional recommendation that the executive be empowered
carry out such suggestions by proclamation without waiting Tor the
Congress- TO debate prescribe what the duties shall BE- opening
nm as such discussion would whole subject of the tariff anew
But President reminds u.s. "a rate ma! De just 'o'"! an"
entirely of proportion six months IL our 'ars are 10 "
made equitable and not necessarily burden our imports ana h
m trade abroad adjustments must be made LOT years "
come think shall long way toward stab'zaton II we
recognize the fitness Tariff Commission to recommend urgent
changes by proclamation
Whatever may difficulties constitutional or otherwise to
the this appeals as an emnenty sane anu
plan.
The Presidents remarks the of revision very clearly
indicate his disappointment with the bill which he recently signed
and determination that there shall be an effort made the present
mistakes nave
omissions
However he ay critical words but rather recognizes
the good features passed and the great difficulties OF
the problem.
Necessari says Mr. Harding, Legislation is matter OF
compromise The full ideal is seldom attained. Yet it would
suggest ncery if expressed complete accord with every ex
d eson recorded your roll cacs Later whe mother
problems solved shall make recommendations about re-
newed consideration of our tax program
Another subject of great and growing Importance but full OF
difficulties mpedmens which the President boldly attacked
that of nontaxabe bonds which have been issued such
amounts into which much capital has been flowing to be
frozen up which needed in the development of natural
and industries
1.-THE tendency of wealth. the President o seek out
nonaxabe and the menacng increase of public deb
federal state and muncpaa justify proposal to change the
Constitution end the of such bonds No action
the billions outstanding but
guard against future OF capital paralysis
This unquesonaby subject worthy of serious condera
on which will provoke from storm of dis
approval The President has shown great merely breach
ing it.
There the four greatest problems of ALL Russian relief in
dustrial tribunals the budget and Americas world responsibility
which deserve extended and careful treatment hereafter
The message is indeed remarkable documentIexington
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