Every evening, Wilmington daily commercial., 1921-12-29

among other things, credit and other
facilities to promote our domestic and
foreign trade maintaining the inter-
national credit. finance and exchange
situa dealing with
credit expansion, surppressing wild
speculation, promoting full and peace
ful employment OF labor and capital.
the early return OF public utilities to
private operation, vigorous handling
of the high cost OF living problem, the
speedy rehabilitation of the army,
early removal OF war restrictions,
regulations, etc, disarmament. reduc-
ton and readjustment of the system
of war taxes to a peace basis, speedy
budget and water power legislation.
punishment of criminal profiteering.
these and other wise and needful
proposals were contained In the DEM
ocratic reconstruction programme.
Republican leaders in control of
both Houses of Congress, following
the election of 1913, bent on every
sort of pandemonium In all our busi-
ness, economic and social affairs, in
order TO carry the elections to follow
played cheap, narrow and venomous
politics at every step. defeated or de-
layed the wonderful reconstruction
programme proposed, dead-locked the
government from 1918 to 1920, choked
and strangled our foreign commerce
until it has suffered loss of six bill
lion dollars within the past twelve
months. and an almost vertical slump
In prices in America of thirty To nifty
per cent and, in purchasing power of
farm products, of siXty-six per cent.
quickly followed.
The Democratic party Is tradition
ally in favor of economy i'm govern
mental expenditures; the Republican
party is traditionally in favor of ex-
travagance. Our pre-war Federal eX-
penditures were one billion one hun
dred and TWENTY-FIVE million dollars
while the expenditures for the present
fiscal year ending June S0th, next
appropriations and other indefinite
appropriations included-are more
than four billion two hundred and
fifty million dollars. They may reach
four billion seven hundred and fifty
million dollars. Disappearing war eX-
penditures constitute almost the only
reductions in expenditures thus far
Democrats stand as they have always
stood for an honest competitive tari1
for necessary revenue purposes
Had the Democratic programme oi
disarmament and war tax reduction
and readiustment been carried out II
1919, expenditures and taxes shoulC
then have been reduced near one bill
lion and n half dollars, assuming tina
the railroads would be promptly re
turned TO private operation, as wal
then contemplated.
Through the spring Of 1919 Repub
, / lican leaders promised early tax re
form and reduction, AS they CONSTANT!
have since that time. The Taxpayers
to date, however. have got nothins
tangible or at all satisfactory. Th'
gospel truth is that reactionary Re
I publicans have never studied interna
| taxation, while Democrats. thorough,
. versed in IL, gave the country vel
I balanced system of normal peace tax
! alton in 1918. with rates imposed ac
cording to ability to pay. and which
: were not oppressive, punitive or ex
: tortionate.
Complete Democratic success ant
l three years OF complete Republican
failure in this respect must convinc
J the country that only the Democrats
! party can he relied upon to give IN
, nation a modernized system Of equi
: table taxation.