The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1922-10-20
BOTH PART|ESARE
BLAMED FOR POST
WAR DEPRESSION
Hitchcock Holds Republicans
Responsible; Pre- sident
BlameS Democrats; VIII
son and DefIation
BY HUGH W. ROBERTS
Washington Bureau. The AEe-Herald.
500 Davidson HulIdin9.

Washington. October 19.-(Special)
Both big parties are endeavoring to
make capital of the fact that as re-
suit of economic conditions growing
out of the war. business In all
branches. including agriculture, was
sorely stricken.
In the democratic campaign book,
Senator Gilbert NJ Hitchcock of Ne
braska publishes an article in which
he attempts to hold the republican
party responsible for the deflation
policy of the Woodrow Wilson ad-
ministration. He bases his argu-
ment on the fact that in the plat
form of the republican party. defla-
ton was demanded. and on a reso-
luton introduced by Senator Medill
Mccormick of Illinois, asking the
federal reserve board how II would
proceed in checking the orgy OF ex-
trRvag ance.
In his letter to Frank Mondell, cam
didate for the Senate in wyoming.
President Harding eriticises the de-
flation policy and holds the proceed
Ing administration responsible In
both instances, politics was the In
spring motive. Politicians have be-
come aware of the fact that people
when in trouble want someone 10
hold responsible for their plight The
President and the senator hope that
by offering a goat" to the farmer.
the reaction will be entirely to his
own advantage
Greatness of Wilson
Deflation was inaugurated in 1920
when Woodrow Wilson was President
of the United States. When it was
inaugurated. every cabinet officer and
the President knew that its reflec-
the democratic ticket
1t is to the credit of Woodrow Will
son that he was not in that emer-
gency SO deeply concerned with the
democratic ticket as with the calam-
ity which threatened the country.
There is no question but that he
moved to save the country from panic
although by moving, he knew that
Governor Cox would suffer the con-
sequences.
There is no question but that ap-
peals were made to the President to
order the Secretary of the Treasury,
Mr.. Houston, to make money easier.
Some OF these appeals were made
Presidents son-in-law. But none OF
them were availing. Already. the
necessity for deflation is said to be
becoming apparent. and the predic-
ton is that as soon as politicians
subsde. deflation will be regarded as
one of the wisest acts OF the former
President of the United States.
Williams Speech Recalled
That the President has followed in
the wake of smaller politicians has
caused general surprise in Washing
ton. Sometime ago, Senator John
Sharp Williams of Mississippi, who is
generally so right that no one dares
challenge his conclusions-howey
iconociastio or personal they might
be-expressed in the Senate his SUI
preme contempt for the individual or
individuals who proceeded against
what he termed the democratic idea
involved in the federal reserve sys-
tenn.
The Indications now are that SEN
ator Williams when Congress recon
venes will be compelled to revise his
remarks to the end that there might
be included as deserving of criticism
the President of the United States.