Milford chronicle., 1922-06-30
UNCLE TED'S
BEDTIME STORIES
SIXTEEN MONTHS OF REPUBLI.
CAN ADMINISTRATION MEANS
SIXTEEN MONTHS OF AC-
COMPLISHMENT

That's just what 1 told Freddie q
long time ago." said Jack. 'When the
Republicans came in and President
Harding took charge in March, 1921
Liberty Bonds were way down and
tried to get him to save his pennies
and buy one because 1 knew that all
the nonsense at Washington was over
and they would go up sooner or later"
Eyes, but what did you dO?" asked
Ruth.
try and have two Of them made into
one spare tire, but since you invested
your money with so much sense I'll
forgive you this time.
"Jack," continued Uncle Ted, 'it
wouldn't be bad idea for everyone to
remember what you have said. When
the Republicans took charge of our
government at Washington, some
bonds were selling at 85 cents on the
dollar and today every issue is sell
ing for it's full value and more. That
means that in 16 months of Republi-
can administration there has been an
increase of more than $4,000, 100000 in
the value of these government securi-
ties.
"Well, since you want to know,
sold my bicycle, it was all old any
way, a sled, some old tires of Uncle
Teds, a lot of newspapers and old
junk I found all down in the cellar
and in the attic. I put that with what
1 had in my little bank and had
enough to buy fifty dollar bond. But
it didn't cost me fifty dollars but a
whole lot less and NOW it's worth fif-
ty dollars. The banks say So"
"And the bank is right" said I'm
Gle Ted, appearing on the scene. IL
was wondering what had become Of
those old tires of mine. was going to
"While we are talking about that,
did you know that in March, 1921,
when President Harding and the Re
publican party came back into power
there was a national debt of $23, ,000,-
100000? And the interest on this each
year AMOUNTED TO MORE THAN
$1,000,000,000. Why, kiddies, in 1913
when the Democrats came into power
they found the Republicans had left
a debt that was less than the interest
ON the debt left by the DemOcrats in
1921! In other words, the debt left by
the Democrats was 1900 PER CENT
MORE THAN THE ONE LEFT BY
THE REPUBLICANS. OF course
most of the debt left by the Democrats
was due to the war but much of it
was due to absolute waste. The part
of this story that makes you feel good
is that within 16 months of Republi-
can administration, that debt has been
cut dowr by $700,O00,000.
"I hadn't intended to make a story
of this but I might as well point out
some of the other things accomplish
ed in those 16 months. From some of
the newspaper articles and from some
statements of those not too friendly
to President Harding and his helpers,
you might think the present adminis-
tration was spending money like wa
ter to run the government. But facts
and figures do not lie, and those real
ly interested will find that the Demo-
Gratis spent $5,5SS, S,O4O,689 to run the
government during the last year they
were in power"
President Harding has been in the
White House more than a year,"
spoke up Jack, "and what has he
spent.
"The first fiscal year of the Harding
administration ends June 30th'and the
cost for that year WILL NOT BE
MORE THAN $3,922,S72,O3O which
means a saving of $1,6OO,OOO,O0O in
the expenses of running our govern
ment."
How have they been able to save
so much?" asked Ruth.
Gas 1 have told you before, Ruth,
most of this saving has been due to
the budget system created by Con-
gress in special session and put into
effect by President Harding with Gen
eral Dawes at its heao. General Dawes
realized that he was put into that
work really to save money, and al
though some departments of the gov
were not so enthusiastic
about having their spending money
cut, he went right ahead and proved
that there were many places where
money could be saved in big Jumps.
"You know, too, that Republican
son was still in the White House,
passed a budget law and it was We
TOED BY MR.. WILSON"
"Tell us again something about
what has been done to lower our
taxes" said Jack.
Uncle Ted crossed his legs and
said, "Jack, the tax or revenue law,
as it is called, passed by the Repub-
lican Congress has made the tax bur-
den of the country less by $818,0O0,-
900 for the year, and besides that,
makes provision for a cut as great
again for the year 1928. This was ac-
complished by doing away with all
taxes on freight, express, and parcel
post matter. All nuisance taxes were
repealed. Excess profits taxes, which
caused so much trouble for hundreds
of smaller business, were also repeal
ed And then the great tax which
effects everybody, the income tax was
reduced by making the exemptions
greater.
"Kiddies, when anyone talks of I'M
remember this. That in
March, 1921, there were about 5,000,-
900 people out of work! AS a result Of
the activities of the Harding adminis-
tration there is no reason today for
any man being out of work if he real
ly wants work. Practically all lines Of
business, farms, and industries en-
ploying skilled and unskilled labor
are advertising for help. In other
words, except where strikes are in ef-
feet, the unemployment situation no
longer exists.
"And remember, too, this admins
tration has not and does not intend
to get mixed up with European poll
tics. President Harding refused to
hoUo anvfhino IN do with GnnOa and i