New-York tribune., 1922-06-26
Harding Saved
Billions, Says
Mccormick
Illinois Senator Asscrts =
Quick Passage Of Tar.
iT Alone Is Needed
Ia Restore Prosperity
Reviews Party's Efforts
Nearly sI,OOO,OOO,0 900 of
u. s. Debt Paid; Family
Mans Taxes Are Reduced
r,om ~. r-.ssr.. wa'aegisr ssrsaa

r,o.. Tt> r-.burss Wasais9i1n Bsrsdn
WARRINGTON. juno 2j.-criticiz-
Inc vh,t Do called Continued pro-
ers,tins,i5n and delay in debate of The
tariff" Senator Medll Mccormiek, Of
Illinois in a statement to day declared
,ha. with thc great progrsss already
made by the Harding Adminlstratlon'
only general strikes or failure 20 enact
,b. ,arif can prevent an immediate
restoration Of prosperity
Senator Mccormick reviewed IN Dc
tail the various steps which have peer
taken toward general recovery. MS
statement. In part, reads;
"While the Kellogg credits act has
bcen Of inestlmable value and I'M.
nortance. the drastic retrenchment o.
expendi,ure inaugurated by the last
Congress and carried forward b. the
present Congress. The economic ana
affective administration of public Al
fairs under President Harding nave
contributed no less % the hnanciai
recovery Of this country. do MOI
need TO dwell upon the expenditure o.
$1,000. 900, 900 by The last Admins
ttAtion, for which We got during tne
war less than 200 cannon. less tnsn
200 aircraft, one ship and natioh
vide railroad wreck.
"But I 'hinl N extremely .mportan Z
10 bear in mind tho following demands
for expenditure b. the executive a"'
pppropriations made By Congress.
Fiscal year 1920. sli ,4f5,4to99ls
Fiscal YEAR 1921, SO 2T2,Ao3.1 1886 0o.
Fiseal year 1922 10 June 20, so%so'-
Fiscal year 1923 10 June 20. $685.
779.7 .720.2s.
Appropriations
Fi,eal year 1920. s6,454,596,6i9.56.
Fiscal YEAR 1921. $3.50 ,629 .5l035.
Fiscal year 1922 20 Jane 90 {4'foo'-
Fiscal year 1929 to June 20, I37io,-
400 ,00i9I
LET IL be clear tina, ss compared
with the sums sought % ne spent o.
the Wilson Administration during three
years. and those appropriated oy a
Republican Congress. Congress saved
the taxpayers S7000,o00,0Q0
Since Warren Harding took once
We have paid or nearly billion dollars
OF the national debt
"gince Warren Harding took once
under the McComick-Good budget act
ge have Gu. the annual expenditure oi
the Federal government by a billion
dollars, or about - per cent per an
mum.
Since Warren Harding took Office
the present Congress has reduced t1e
annual aggregate o. taxation By about
billion dollars-by some ts0o.O0o.00O
for the current calendar year and by =
billion dollars a year thereafter. We
have wiped OF tire statute books score
or two OF nuisance taxes which fell up
on everything used by father, mother.
sister and sonny. We have been able
10 reduce all income taxes, 50 that for
every one they are less. for example,
than those paid IN the British Isles.
THE additional income tax exemp-
tions have reduced by about a third
the tax OF the family man with an IN.
come OF $4,000 a year or less We not
only have reduced the total sum o.
Federal taxation by about a billion
dollars year. but We have reduced b.
20 such a point that the government OF
the United States collects from its citi-
zens per capita about one-third as
much as does the government Of Great
Britain.
Since Warren Harding became
President the increase IN the value OF
Liberty bonds which have gone 70 par.
amounts 10 about three billion dollars.
America will appreciate what has
been done, and what Il is sought 70 do,
to relieve the shipper and the eonsum-
er OF the tremendous burden placed
upon both by the Wilson Administration
through the increase in the railroad
rates and the imposition OF transports.
tion taxes"
Britain in Worse Shape
The unemployment in England to-
day is something like six times per
capita Of that in the United States.
Mr. Mccormick says.
Unemployment n Scandinavia is in
crcasing rather than decreasinc a, The