Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1922-11-16
WHO REDUCED
PUBLIC DEBT
is The ISSUE

WASHINGTON. Nov. ll-Who re-
dured tho public deht7 Was Il Demo
crafts or Republicans
Thp issue which Nocamc acute Just
hclot thc recent %pugrcssiopai cleo
tions'uroms,s Co Dee dnrriod over to IN,
la2l Presidential elections
rrGc. The national debt. is still Q
rather msy individual ana taxes an,
sky high hat everywhere along m,
read 10 has been reduced 90 some -
.out sine. the war ana both sides want
the credit The Democratic Nationa
committee ohesty rm i's recent Vie
tory is out with th. following state
mont
In "a formal statement issued on tho
we ,f tuo elections Secretary at m,
Treasury Melton has given tho ofucia
ncts regarding thr reduction Of IN,
NATIONAL debt during the last three
cars. and has shown that ry far the
larger share 90 thr decrease was ac.
aomrlshcl urd.r the Wilson admins
tutlou.
"S.cr.uI. MELONS statement musi
bc received as 90, rom and final answer
POO th, claims of MANY Republicans
who have been te.l.ue the voters TIA,
ho Harding administration deserve.
cob. credit f.r having reduced th, pub
ir debt which bad Goo hc incurred M
D., .I,r. sIu prosecution 40 this rUuu
rvs part iu the World War.
"Tho uIhi.. debt reached Iis maxi
mum un August 80. 1919 following tho
completion uf loans and OUTLAWS ueccs.
stated lr tH. war ON 'hlt dltr tho
gross public t,ot was SOS 500 600 600 IN
round numbers ON September 30 1922
ts total l- given n Secretary Melons
statement was i-oSle. 900 600 tn,
reduction effected between these dates
was therefor. y31Ne 600 600.
"Iow much Of hIs reduction was
aads ht 'he Democratic administration
rhe official r.uWfs of thr Treasury
Department rIN. fhc answer ON Fob.
u1rv .t IH.I. tHD gr. rIhH. debt
Nls s-iN.I 100000 which was ye.5t7..
100000 I.. tH. .UIk' figure ou Aua-
ust 81. 1919
The fact ie then. that the Demo
.It. admins 'uU.u diminished the
lclt ly f15l3ON0U0O Boo eighteen
months while th, reduction during the
.ght',n months OF th, Harding admin.
STATION ba- been only 50 23s 600 goo. N
lih,r words ths decrease of the debt
under Democratic rule was more than
twice us much ls that made hv th,
present Republican administration IN
o. IKE period
I'm e speech ot Denmark. y j.. on
October .0 1929. Woo President Cool
dge Is quoted ~ having said that M
found cause Cor satisfaction ina re-
durf.un of thr national debt OF 81 800
200 GOO The report Of h.s speech car
r.od hy the Associated Press did not
indicate that the NiccProsidcnt *
planned 10 his bearers that any part Of
This reduction was effected bv the WIN
SON administration. other Republican.
have either made the statement or lcft
the inference that the Harding admin
lstutinn alone deserved ofcd!t Tor cut
ting the total of the national debt.
II b. gratifying for Democrats q
be- able 90 have The testimony Of m,
Secretary - the Treasury. one ~ IN,
Republican Presidents own officla
household. 10 confederate by his hook
the statement that the last proviou,
Democratic administration achieved ,
notable and cnylahlo record ~ deb
reduction Dr. must D. correspondence,
embarrassing o. spokesman OF Secre
tary Mellon's own party 10 have hin
conform them hy the official fact
which oorrohoTate the Democrats"