The Hartford republican. (Hartford, Ky.) 18??-1926, 1922-02-24
GOOD TIMES RETURN
HOOVER'S FORECAST
Low Freight Rates Urged For Farmer,
u. v. Labor Board Praised
by Commerce Head.

washington, Feb. 1S-Predictlng
resumption of great prosperity,
praising the Republican Congress for
the establishment of the Railway La
Dor Board for the peaceful adjust
ment of disputes, and urging means
of providing work for 100000 men
now unemployed. Herbert Hoover,
Secretary of Commerce, in an address
to the Interstate Commerce Commits
sion, asks for new development Of
American railways
In what is regarded as one of the
most important economic statements
of the Harding Administration he
says:
"In responding to the invitation to
discuss some of the problems present
in your general railroad investiga-
tions, / shall devote myself to three
of the railway topics which especially
arise from the present economic
situation.
81 do not need to review at length
that we are recovering from the
destruction and initiation Of the
greatest war I'M history. that we are
suffering from the waste. the ex-
travagance, and overexpansion of the
postwar boom, and that the war has
brought about great shifts in the
movement and prive levels Of COM
modities between nations.
Il would. however, suggest that it
might be profitable for our people
TO get a somewhat clearer perspective
of our own and the worlds troubles
and problems. Even superficial
survey must bring us out of an at
mosphere OF gloomy introspection in
10 an assuring realization that, great
as our dislocations may seem, we
relatively are in an enviable position.
our nation is mistaken, and as a
people we are getting our bearings in
a world of perplexing economic ad-
iustments. While there is unemplOy-
ment and lack of profit taking. we
are free OF panic. We are compare
lively more restless than injured.
For instance. as heavy as our tax
burden is It is still less than one-half
as great in proportion to our nation
al productivity as the other states in
the war
The violence of our readjustment,
however. is without parallel, and we
sometimes tend to color our mea-
sures for the future by the depression
we are in. The fact is that we must
predicate all plans for the future on
the ultimate return OF the American
people to a normal economic activity
with our annual progress in the ex-
pansion OF our production, of our
plant and equipment, of our skill and
our efficiency. There can be no
question that this return will take
place, and no responsible body will
approach our problems on any other
basis. Not one OF us would submit to
the charge that we were not prepar-
ed to bet against any odds upon the
future of the United States. Our
problem is to expedite this recovery
to speed up employment of our
workers, and thereby find market for
our farmers.
''If we look at the national eco
Monies situation as whole, the great
est impulse that can be given to re-
covery from any source whatever Is
a reduction of rates on primary COM
modities combined with the i'm
mediate resumption of railway con-
struction and equipment. The first
depends upon reduction OF operating
costs, the second upon restoration oil
credit for our railways.
Zone thing is absolute. Our trans
portation facilities are below the
needs of our country, and unless we
have a quick resumption of construc-
ton the whole community-agricul-
tural, commercial and industrial
will be gasping from strangulation
caused by insufficient transportation
the moment that our business activi-
ties resume For the past five years
we have had no consequential expah-
sion to our railway transportation
machine. With but one interval OF
nine months in 1918 and 1919 we had
car shortage throughout the whole
of the years 1916. 1917, 1918, 1919
and 1920. This shortage rose to as
high as $780, cars, with cores
ponding shortage of motive power
We paid tremendous sums IN com
mercial losses and unemploymnt IN
consequence. We laid Il onto the
war. We should lay l. onto our
lack of foresight and antasonism 10
railroads.
0u,o,,, naonIa saam 10 realize the