, 1922-10-25
Business in Government
Offices.

America Is the one prosperous n1-
ton in the world today. Its industries
are active and labor Is in demand ut
good wages In other countries there
IL either general unemployment on
employment at pauper wages. Farm
prices are better in America than
elsewhere n agricultural prospects
more encouraging. Business condi-
tons are improving every day and
are incomparably better than in other
countries.
These favorable conditions. did not
exist In the United States in March,
1921. Then. labor was unemployed,
agriculture in great distress. business
depressed and filled with uncertainty.
Interest rates were %abnormally high.
Our national credit was so impaired
that government bonds were selling
at SO. Taxes were b~urdensome. Pub.
lie expenditures were excessive.
The great improvement which has
taten place In public and private AZ.
fairs during the past nineteen month";
has not been accidental. 1t is due
fundamentally to the administrative
and legislative policies Of this admin
istration.
1Se Republican party came into
power pledged to a business admins.
tration and public onomy President
Harding selected a cabinet especially
qualified for the work of their res.
pestiye departments and devoted to
public welfare rather than partisan
advantage. Under the Presidents d.
rection a meeting was called OF the
500 or more business executives OF
the government, the first of its kind
in the history of the government.
AT this meeting a definite program of
public economy and efficiency was
decided upon. From that time. bust.
ness methods prevailed in every OK.
ecutive office.
Within a month OF his inauguration
President Harding summoned the
newly elected Republican congress In
special session n requested an *.
~tensive Legislative program OF vital
Importance to the nation. The con.
gress enacted into law practically all
or this program. thus cooperating ef.
fectively with the administrative end
Of the government to secure public
economy and a restoration OF sound
conditions in public and private #.
fairs.
The administrator was pledged 20
put an end to autocracy and restore
representative government. 1t has
counselled with and co-operated with
the public in an endeavor TO give the
best possible service. Under President
Harding's direction there has been
held many important gatherings such
as the agricultural conference and the
employment conference. The admints.
tration has attempted neither dicta-
ton or usurpation of authority on
the n hand. or the evasion and the
Sinking of d~isagreeabie tasks on the
other hand.
The beneficial results of these nine.
teen months OF constructive admins
tration and legislation are in evidence
on every hand. On September 40
1922, the public debt was s1.1ss o4e
1S1 less than when the Republican ad.
ministration took control. In addition
nearly $4,000, 600. 900 Of the public deb,
has been refunded at q lower rate ~
interest. Government bonds have gone
to par. Interest rates have becona
normal. Public payrolls and public
expenditures have been drastical,v,
cut.
Contributing to the stdbie economic
conditions in this country has been
the foreign policy OF this adminstra.
ton. Americas standing abroad hax
been restored without her becoming
identified with the enmities of Europe
or subscribing to their financial and
economic heresies. An outstanding
achievement OF the administration was
the Washington conference for iimita-
ton of ornaments. which public opin-
ion throughout the world acknowedx-
ed to be the greatest practical step
toward international peace that has
ever been taken.
The confidence OF the American peo.
pie. is we'll placed in the Harding ad.
ministration which has brought about
so great an improvement in public ana
private AFFAIRS during the last nine
teen months.@John T. Adams, ma
tional chairman.