The Washington herald., 1922-03-04

Nv Harding and his administration and Con-
gressional elections eight months distant
the biennial chorus of assertion and denial by Re-
publicans and Democrats (or Democrats and Re-
ptblicans as the case has been on some previous
oesasions) is working toward its November fortis-
siaao. Lieutenants of the G. o. p. arise to pro-
claim the gains sccruing to the nations common
veal through that partys exercise of power; pro-
ponents of the badly beaten but still unbroken
blematic mule accept the challenge with swift yips
OF dercgaton.
The people have come to regard these volleys
OF assertion and refutation political phenomena
to be borne with such equanimty as is shown be-
Meath visitations of nature, fair foul. Because
OF the regularity of their occurrence and their
avoidable necessity in two-party scheme, the
public is liable to look upon them meaningless.
Yet, essentially, they represent a most important
factor in governmental process and tabulated
records exercise rightfully important influence on
retention loss of the directing reins.
A summary, therefore, of the accomplishments
OF the Harding administration is not at all out of
place. and, in spite of some natural mistakes and
sdverstes following the Resumption of power, the
summary is one highly creditable.
The President in his preinaugural statement
emphasized that this to be business regime.
In nearly every essential that promise has been
borne out, but the economic revival is not the only
thing that has been striyen for. There has been
brought about understanding between the United
States and the great foreign powers which, despite
what its detractors may say, is triumph. We
REFER of course to the results of the conference of
Washington. Entering the White House with the
nation still technically at war and variously embar-
rassed at home and abroad, by that continued con-
dition. President Harding has brought about peace
with our enemies Of the world struggle.
Among the solid accomplishments for the coun-
try,s benefit may be listed the following:
Outstanding Liberty bonds and Victory
notes have been increased in value S2,oooooo.-
900, the latter going above par.
Retail prices have shown horizontal re-
duction OF rs per cent.
The public debt has been decreased $780,
100000 and the annual taxation has been re-
duced S75oooo,ooo
Energetic efforts to relieve the depression
OF the farming situation. through authorization
of loans for development and for exporting
products and the passage Of emergency tariff
schedules have been rewarded by real results.
Agricultural products totalling 2o,oooooo tons
sold abroad during 1921, record for all
time.
Abnormally high wages of wartime were
readjusted downward some II per cent,
change causing little real monetary loss because
OF reduction of living costs
The establishment of the budget system has
brought government economy in expenditures
and promises more for the future. The outlook
is for a $3soo,ooo.ooo budget for the coming
fiscal year.
The Department of Justice and other Fed
eral agencies have waged a vigorous campaign
against certain nsidious combines. notably those
in the structural supply and building industries,
this activity being in no small measure respon-
sible for along-awaited building boom.
1t has been charged that Mr.. Harding, and not
Congress should be accorded all praise for what
has been done 1t is that his initiative has set
in motion the wheels of legislation in many matters
of vital importance, but this has always been the
case with able White House Executives. Congress
has lost much time in formulating regular tariff
ssi but the caution has been necessitated by
chaotic economic conditions abroad. This body
now has under active consideration the tremendous
matter OF foreign debt refunding and just and
provident program for the soldier bonus is rapidly
taking shape.
Altogether, the party should enter the lists in
the eleventh month without any undue anxiety.