Capital journal. (Salem, Or.) 1919-1980, 1922-03-07
A Year Of 1t

HaTdlng
and is reported being supremely satisfied with his
cord his office and himself He has been apty character
lied Main Street. president, and seems to consider
the appeaton distinction No president since Hayes has
better earned the title.
Though President Harding has had the time of his life
in the White House, the country whole has not Jared
as WELL Seldom before has there been widespread fin
ancal depression such industrial collapse and much
unemployment and this in spite of abundant harvest and
half of the gold of the world piled up in our banks.
There have been conferences of the "best
minds" to settle economic, industrial and political ills
but no remedial plan has been presented and aggressive
executive leadership manifested The nation has drfted
along buoyed up it's latent strength exhausess resources
and common-sense rather than able craftsmanship
Abandoning the League of Nations seperate has
been with Germany by which the benefits of the treaty
of Versailles retained at allies expense disarma
conference faered by Senator Borah opposed at first
by the President but forced by public opinion has negotiated
treaty among few nations for ten year naval holiday.
Another treaty relieves Britain of the AngloJapanese
alliance by substituting four power alliance with America
one of the guarantors Japanese dominion Wireless rights
on Yap have been surrendered to the aps All OF these
treaties except await senate ratification or rejection
Taxation reforms ended with the adoption of revenue
bill which relieved profteers of profits tax and re-
duced the surtax big incomes The satisfies no
one and does not reduce taxation to the consumer
Tariff legislation has produced emergency tariff law
that protects the dye trust places high tariff on farm prod
ucts of which surplus is produced and puts the kbosh
American merchant marine mo
ation has been enacted but the prospect Of tariff wall
has delayed the economic recovery of Europe
No definite action has been taken the bonus with
prospect that the house will pass kind of bill to
pacate the exserve and help house members secure
reelection which the senate will promptly kill The president
has appealed for loans to railroads and for
subsidy for shpowners The board has been revived
to make loans to banks and livestock companies instead of
stockmen budget system has been adopted which does
not prevent deficiencies and has not yet reduced taxation
Most farreachng and important of administration acts
has been the official approval of the principle of the purchase
seat in the United States senate through corruption OF
the electorate The senate declared in the NeWbery case
hese excessive expenditures contrary to sound public policy
harmful to the dignity of the senate and dangerous to the
perpety of free government hereby severely con-
demed and dsappoved and then rewarded the beneficiary
of the expenditures who had tainted the ideals of the
republic by seating him as a member of the senate.
The administrations crownng achievement in the foreign
field is the disarmament agreement of office
however has not produced permanent settlement OF the
revenue tariff bonus other great issues American
troops still the Rhine and bread lines and houses
do thriving business in cities while farmers are
burning corn for fuel However have prosperty-on
the bill boards To quote the poet of the Congressional
Record:
Mark Hanna gave dinner pail
made feel so fine;
Theodore the big stick
all In line;
But Harding, n his great wisdom,
outdone all such feas,
lie given prosperity
bilboards o streets