Arizona republican., 1922-02-19
Political Bunk

Political Bunk
It is well that the country understands Chair
man Hull of the Democratic congressional commit
tee to be speaking in Pickwickian when he
declares, as he did Wednesday night, that the
American people are being brought under Repub-
lcan leadership to terrific business Generalization
and panic conditions. 1t would be sad for the
try if American business men should believe that
that is true. 1t would be disturbing il could
believe that Mr.. Hull believed it,
There has been no sign of a panic, but there has
been serious depression, which has not been wholly
removed The depression began to be felt in the
summer of 1920. Though the Republicans in
control of congress, depressed conditions were not
the result of the enactment of the failure of
gress to enact any legislation. President Wilson
was yet in the White House and in full possession Of
the vast and autocratic powers with which he
had been entrusted. But neither the president
congress- both combined and working in har-
mony, could have averted the readjustment which
was coming 1t might have been artificially de-
layed but the longer delayed the greater the force
with which it would have finally come.
The country had been stimulated to high pitch
to produce all things which needed in the
Upon American production during the period of the
war the world was depending. The stimuant in
flation Suddenly the world demand upon American
production ceased and Americans themselves who,
drunk with high wages of small buying power,
sobered by the sudden peace also ceased buying
What law could congress have enacted what
order could the president out of his extraordinary
powers have made. that would have changed these
conditions? What could have kept alive the worlds
demands for goods have kept the American
people wildly buying?
A state of exatation excited emotions however
lu;o aInn nhol ;V
evitably followed by state of depression. We had
all been gorously drunk. and the morning after and
the seal-brown taste were bound to The
victim of alcohol may postpone its coming by getting
another drunk. but for that he is charged fear
full rate of interest and he must some time pay
Most OF us, we suppose, would have liked to
continue the orgy rather than submit to the pain Of
returning sobriety, but the federal reserve board
wisely took the bottle away and hid it from And
the Federal Reserve board not under the con-
troll of the Republicans. Defaton was ordered and
the headache began.
Returning OF the similitude of the inebriate,
another symptom manifested itself at this time-that
of uncertainty and hesitation Did you
man beginning TO emerge from fit Of intoxicaton
start across busy street? He stands for time.
nervous. on the sidewalk; he makes start, stops
hurriedly, turns back over and over this process
he goes starting, stopping, scared by approaching
traffic, and then turning back. That the shape
business was in following the removal of the infla
ton bottle from lips
We suppose there who will be i'm
pressed by the alarming picture of the country's
position, which Chairman Hull has drawn. There
might be, though have idea that there will be,
enough foolish persons to serve the purpose of the
chairman in the congressional elections but it is
fortunate for the country that none Of the men,
business men, Democrats or Republicans upon whom
the country depends will be thrown into panic by
professional politician They appraise the speech
Of the chairman for what it is--political bunk
They know that the country is all right and
that it will come out right that it may take time.
but that time is at work and its results becom-
ing more and perceptible, and that while poll
ticians may hinder, they very much help,
even If they be wise and well-meaning. There are
some things, especially natural and economic laws,
which move in sequences. They may be directed,
but they cannot interfered with without more or
less serious disturbance.