New Mexico state record. (Santa Fe, N.M.) 1914-19??, 1921-10-14


ence will be free from attacks on the
ground Of partisanship. and will be the
affair of all Americans
Occasionally a thing works In re-
verse Of the intention that started it
going. Some time ago a letter In
tended for publication was put out
by some one in the headquarters of
the Democratic national committee, a
letter which seemingly expressed
doubt as to the sincerity of the ad-
ministratiOn in calling the conference
on the Limitation Of ornaments. This
letter disturbed a good many of the
Democratic leaders and instantly a
statement came that the letter had
been misunderstood. Immediately fol-
lowing this came the expressed de-
termination of Democrats generally to
support the administrations arma-
ment Limitation efforts.
From the Democratic national COM
mittee has come an explanation OF the
original letter and II Is fair to say
that the Interpretation which first vas
put upon it was based largely on some
rather obscure expressions which, as
the explanation shows, were intended
to mean n thing, when casual read
ing made them appear to mean an
other.
The senate has reconvened for busi-
ness. The house will do little or moth
ing until the senate gets through with
some OF the greater measures which
the house has sent v to 1t for con-
sideratiOn. President Harding came
back from his outing with a record of
satisfactorily low golf scores and with
a reputation for being a good sailor.
for 1t is affirmed by his companions
that sea sickness Is a stranger to him.
So from all accounts he Is feeling fit
and ready for the work Of fall and
m Of the first things to engage
attention being the industrial confer
ence for the purpose of finding means
to put the jObless back on their Jobs.
Revenue Bill Needs Time.
The evenue bill which the mem.
bers Of the senate finance committee
sent to the floor varies materially
from the measure as 1t was passed by
the house. 1t is going to take some
time to thrash out the differences and
to get the sound wheat out of the chaff
of evenu legislation. The trouble Is
that some house men and some senate
NJ tphn ,YpVallx, a.n naannntn1 nc
sound in their financial views insist
that what some of their equally finan-
cially reputable brethren call wheat
really is chaff, and that what they
call chaff really Is wheat.
Shortly after the bank panic of 1907
the Vreeland-Aldrich bill was framed.
Later 1t became the basis of the legis-
latiOn establishing the federal reserve
bank system. which vas enacted into
law by the Democrats. 1t Is needless
to say that the Democrats never have
given credit, which Republicans say
Is deserved. to either of the trainers
Of the original measure for help In
formulating and passing the federal
reserve legislation.
This reference to the V~reeIand-Al-
drich measure is made because today
there are repetitions In Washington
of the e which preceded the en-
actment of that legislation. The
finance committee of the senate held
hearings on the Vreeland-Aldrlch bin
and summoned here many of the great
bankers of the country to give their
views as to the form which the legis-
lation should take. Some of the bank
ers said white; some of them said
"black."
Experts Do Not Agree.
So 1t has been today in tax legisla-
ton. One acknowledged expert has
said one thing, while another acknowl-
edged expert has said exactly the re-
verse. The legislative experts Of the
senate have been at loggerheads with
the legislative experts of the house.
and as both have intlmated that they
are financial experts, 1t readily can be
seer that somebody Is taking chances
again today.
1t has been turning cool for two or
three days in Washington, and the
GOODNESS may prevail for a time and
then again 1t may not, but moderate
temperature helps legislation to be. so
to speak, unexcited. Several weeks
ago II vas said that many members
Of the house thought 1t would be bad
business" to take a recess because
they believe their constituents might
not like it. II also was predicted that
their constituents certainly would not
like 1t, and so seemingly it has turned
out. but there are seasoned Washing
tonians who believe that the country
will lose nothing through the fact that
most of the house men and most Of
the senate men We're away from this
town during weather when IL Is pos
sible here to fry eggs on the asphalt
pavements at high noon any day in the