South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-10-16
HARDING LAUDS
LAST CONGRESS
FOR LEGISLATION
Writes Letter TO House Ma
iority Leader of Many
Accomplishments.

Continued From Page Ohe)
mad not suffered By the struzsI .
whereas today our strength IS the
stan upon which others would lean
Then we could turn for help 90
many others who were able TO give
i now we ind not a few % them
turning 90 as for help.
Cut Government Expense.
The two congresses serving since
The restoration az peace have been
a worldwide imitation and defati5n.
our country has borne It's part in
this experience without even menace
90 our gold standard money system.
What other country has such a rec
ord ? our governmc expenses
have been reduced in a proportion
unequalled. think anywhere else
Our war debt has been impressivcly
reduced. and policies have been
adopted which insure continuing re-
duction hereafter. our military and
naval expenses have been restored
approximately 10 normal. with "A
prOmptne5s which ls the more sJrik-
ing n we contrast 10 with the ez-
perlence o. other nations which par
ticipated in the war.
TheEe is no need for detail con-
corning the legislation which has
been passed by the sixty seventh
congress. In a time when wide DIFF
ferences in producing costs and a
n
erect barriers against international
trade were menacing our commerce
and industry we have passed tariff
legislation which FIRST protects our
own producers. and second. through
its provisions for administrative
adjustment of duties TO changing
conditions makes possible 20 adjust
them 90 shifting ecOT Omlc relations
and enables as TO encourage foreign
trade. In the present disturbed con-
dition Of money. exchanges Agd
world trade. I believe that by inau-
gurating this policy of debility and
which the commercial world viii
accept az a truly constructive foun-
dation on elasticity we have set an
example which TO rest our CONNER
cal policy.
Public Deot Lowered
No other belhserent country
has. since the restoration Of peace,
reduced its expenditures so rapidly
as has our own. For the year emo
ing June 80, l9-O, our PUBIC eA-
penditures aggregated S6.4O3,343.-
600. a year later S5.115,92o,0O0. For
fbo esoof ,-o4r 1000 "a ara e07 600
This mas been possible throush
united and determined EFFORT legls-
iative and administrative based on
the SOUND business poi'cy OF proper
budget organization. The appropria-
ton for the army for the hscal year
lyf2-25 ls less man one-thlrd TOT
tbs year l9l9-2o' nearly as great q
rcdectlon as has been accomplished
in the navy.
in all other directions, save only
in the provision Tor the care or
those "who fought the war Tor u.s.
there have been similar economies.
In making provision 20 care for the
rehabilitation or WouHded' diseased
and Disabled men ~ the service, no
expense has been spared that was
necessary 70 perform the Lu- ma
ional duty gratefully and gener-
oUsiy
The national fiscal poAcy mas
been directed 20 arrest the roo ia pa
dehaLon when had SET IN ana 10
this end there has been a progress
sive reduction OF the Iedera' reserve
discount rate As a result or these
poiicleS Liberty oohos nave P'o-
grgssNely risen in Nalue. me gem
eral financial situation has steadily
improved, ana To-Day the country mas
brighter prospect ahead OF its
business industry and agriculture
than az any time since the mistaken
program OF drastic dehation adopted
ny those VINO were lhen IN cohuoI
OF government poAcles-
There is reason Tor the most cor