The St. Johns herald., 1922-12-28

With regard to the transportation problem, MT. Harding proposes that the railroad labor board be abolished with the substitution of a labor divi- sion in the Interstate Commerce Con- it's rulings to be accepted by both par ties to a disputed question. The ex- ecutive also proposes that the law re- quire the carriers and their employees to institute means and methods to ne | gotiate between themselves their con- stantly arising differences, limiting ap- peals to the government body to dis putes of such character as are likely to affect the public.
 Calls Attention to Readjustments.
 The President began his address by calling the attention of Congress to general world conditions, which, he said, still were seriously disturbed as a result of the war. He asserted that "the inevitable readjustment of the so- cial and economic order is not more than barely begun," and continued:
 "There never again will be precise ly the old order; indeed, know of no one who thinks it to be desirable. For out of the old order came the war it.. self and the new order, established and made secure, never will permit it's recurrence.
 "It is no figure of speech to say we have come to the test of our civiliza- tion. The world has been passing-is today passing through great crisis. The conduct of war itself is not more difficult than the solution of the prob lens which necessarily follow. I am not speaking at this moment of the problem in it's wider aspects of world rehabilitation, or if international re- latiOnships. The reference is to our own social, financial and economic problems at home These things are not to be considered solely as problems apart from all international relation ship, but every nation must be able to carry on for itself, else its information al relationship will have scant import ance.
 Doubtless our own people have emerged from the World War tumult less impaired than most belligerent powers; probably we have made larg- CT progress toward reconstruction. .. Had we escaped the coal and railway strikes, which had no excuse for their beginning and less justifica- tion for their delayed settlement, we should have done infinitely better. But labor was insistent in holding to the war heights and needless forces of re- action sought the prewar levels, and both were wrong.
 Rail Strike Hurt Agriculture.
 "The railway strike accentuated the difficulty of the American farmer. The first distress of readjustment came to the farmer, and it will not be a read justment fit to abide until he is re- lieved. The distress brought to the farmer does not affect him alone. Ag- ricultural i'll fortune is a national i'll fortune.
 "This Congress already has taken cogniZance of the misfortune which precipitate deflation brought to Amer ican agriculture. Your measures of re- lief and the reduction of the federal reserve discount rate undoubtedly | saved the country from widespread | disaster. The very proof of helpful ness already given is the strongest ar- gument for the permanent establish ment of widened credit, heretofore | temporarily extended through the War | Finance Corporation.
 Enlarge Scope of Farm Loan Bureau. 1
 'The farm loan bureau, which al- ready has proven it's usefulness through the federal land banks, may well have it's powers enlarged to pro vide ample farm production credits as well as enlarged land credits. It is en- tirely practical to create a division in the federal land banks to deal with production credits, with the limitations of time so adjusted to the farm turn over as the federal reserve system pro- vides for the turnover in the manufac- turing and mercantile world. Special provision must be made for live stock production credits and the limit of land loans may be safely enlarged. Vari- Ous measures are pending before you and the best judgment of Congress ought to be expressed in a prompt enactment at the present session.
 Appeals for Treaty Ratification.
 "But American agriculture needs more than added credit facilities. The credits will help to solve the pressing problems growing out of war-inflated land values and the drastic deflation of three years ago, but permanent and deserved agricultural good fortune de- bends on better and cheaper transpor- tatiOn. Here is an outstanding prob lem demanding the most rigorous con-