The Hartford republican. (Hartford, Ky.) 18??-1926, 1922-03-10
e UNPREPARED
.1R ECONOMIC HELP
&C. simon u. Fcss Opposed TO Press
cut Participation of L. ).
tn Genoa Conference.

hNl ts 'lutul Nulll EuIbpe ScbS u
iouse in order. is the declaration o
Representative Simon ID. Fess, o
Ohio, chairman Of the National Re-
publican Congressional Committee
In a review of the country's financia
situau0u. he says:
The trightful dislocation of the
worlds business will take time for
readiustueut. The modern business
fabric is so intimately articulated thai
interruption in one part of the world
is felt in almost all other parts. This
Is Why the European dislocation is so
sorelY felt here at home. SO long as
Europe refuses to balance her bud
gets. but continues to increase her
deficits, abandoning all laws of econ
omic readjustment, so long will we
-eel it more or less here in our loss
Of International trade. The disposal
Of cur surplus largely governs our
price current at home. This at once
raises the Qu stion of what we can
do ,or Europe.
Our agreement to attend the pro-
1ussd economic conference must de-
leud upon Europe's good faith to set
aer own house in order by taking
steps to reduce her useless standing
armies which in every country out
side Of the central powers are larger
than before the war. Little countries
ike Greece maintain an army twice
-he size of our own country. We
may be able to help if Europe opens
he way.
The one unfailing solution of
ECI0pe's condition is the same as in
al the other continents viz. work
and save. No other remedy will be
successful. Her urgency for more
loans can not be needed so long as
she pleads inability to pay interest on /
loalz already made. Her deblssd /
credits can never be restored so long .
As she pleads for cancellation of her .
obligations to this nation. thereby
repUdiating the most solemn interna-
i0ual duties. Her demorailzed cur
,aucy can never be brought back to
par or anywhere approaching it so
,Oug as she continues to attempt to
create wealth by running the govern
uent printing presses. Her broken
fortunes can only be rebuilt by the
sUe Unfailing rule of every man and
woman at work, to capitalize the val
le Of labor rather than to practice
he aversion to work and save
Our domestic problem is both
governmental and economic. The gov
duty is to reduce the
rghtful cost of government induced (
y the commissions of war. We have
hown progress in this program. We
educed the cost which in 1919 was
9 billion dollars; 1920. 7R billion;
92I 612 billion and the present year
billion with the promise of but "
illion next year.
The next step is to avoid all I'M
ecessary outlay for whatever pur- u
Csc. This means that much good -
.gsIation must wait. The rigid en-
ireement of the budget system in o.
res wise economy and an end for all A
me of all porkbarrel legislation. .
We must just as rapidly as pos .
BILE do away with war time taxation ~
hich dries up industries, and substi- II
ties a peace time system simplified
that an enterprising citizen can W
fsly. conduct a legitimate business "
ithout running the risk of going to m
IL. Efforts should be put forth to a,
'oduce a better feeling toward the 4,
an who succeeds, so that success is il
It the subject of suspicion. All UNI n,
&c ssary handicaps which drive capt. n
! out of industry into nOn-produc- ft
,e channels should be removed just IN
soon as possible so that money will re
aGily invest in the employment of al
Dor. Our slogan now should be re
7ep the homestacks burning' so
i,ry effort should be put forth by ca
RI labor and capital to reduce the GO
gh cost level of production. II at ii,
possible steps should be taken by hi
th leaders, employer and employee, al
agree TO a program OF increased v
ficfapcv and dpcrpag- II cost the law 81,