The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1923-12-14

tHe chetlsheu FIgnJs OF humanity.
do not propose to make merchandise
OF any American principles. These
rights and principles must go wherever
the sanctions of our government 20.
But while the favor of America is
not for sale, am willing to make very
large concessions for the purpose of
rescuing the people of Russia. Already
encouraging evidences of returning to
the ancient ways of society can be de-
tected. But more are needed. When
ever there appears any disposition to
compensate our citizens who were de-
spoiled, and to recognize that debt con-
tracted with our government, not by
the car, but by the newly formed re-
public of Russia; whenever the active .
spirit of enmity to our institutions is
abated; whenever there appear works /
mete for repentance our country |
ought to be the first to go to the eco
uOmic and moral rescue of Russia.
We have every desire to help and no
desire to injure. We hope the time is
near at hand when we can act.
Debts.
The current debt and interest due
from foreign governments, exclusive of
the British debt of $4,6O0,OOO,0OO, is
about $7,200,000,000. 1 do not favor
the cancellation Of this debt, but 1 see
no objection to adjusting it in accord
ance with the principle adopted for the
British debt. Our country would not
wish to assume the role of an oDpres-
sive debtor, but would maintain the
principle that financial obligations be-
tween nations are likewise moral obli-
cations which international faith and
honor require should be discharged.
Our government has a liquidated
claim against Germany for the expense
Of the army Of occupation Of over $685.
100000. Besides this, the mixed claims
commission have before them about
1880 claims of American citizens, ag-
gregating about $1,225,O0O,OOO. These
claims have already been reduced by
a recent decision, but there are valid
claims reaching well toward $5O0,O0O,-
! 900. Our thousands of citizens with
! credits due them of hundreds Of mil
| lions of dollars have no redress save
in the action of our government. These
are very substantial interests, which
it is the duty of our government to
| protect, as best it can. That course
propose to pursue
1t is for these reasons that we have
a direct interest in the economic re
covery Of Europe. They are enlarged
by our desire for the stability of civ
ilization and the welfare of humanity.
That we are making sacrifices to that
end none can deny. Our deferred in
terest alone amounts to u million dol
lars every day. But recently we Of
fered to aid with our advice and cOun-
sci. We have reiterated our desire to
see France paid and Germany revived.
We have proposed disarmament. We
have earnestly sought to compose diff
ferences and restore peace. We shall
persevere in well-dOing, not by force
but by reason.
Foreign Service.
The foreign service of our govern
ment needs to be recognized and i'm
proved.
Fiscal Condition.
Our main problems are domestic
: problems. Financial stability is thu
first requisite of sound government
We cannot escape the effect of wOrl'
conditions. We cannot avoid the 10
/ evitabIe results of the economic disOr
l ders which have reached all nations
/ But we shall diminish their harm t
: us in proportion as we continue to re
l store our government finances to
+ secure and endurable position. Thi
we can do and must do. Upon tina
firm foundation rests the only hope q
n progress and prosperity. From ths
S source must come relief for the peopl
i This is being accomplished by
T drastic but orderly retrenchmen
S which is bringing our expenses With
r orr means. The origin of this hS
e been the determination OF the Anne
i lean people. the main support has bee
e the courage of those in authority, al
i, the effective method has been Il
If budget system. The result has /
e. volved real sacrifice by departmel
;e heads. but it has been made wltho
ut fiinching. This system is law OF Il
lie congress. 1t represents your Will,
IS must be maintained, and ought to
strengthened by the example OF yo
o. observance. Without budget syste
is there can be no fixed responsibility al
n no constructive scientific economy.
w Another reform which is urgent
is orr fiscal system is the abolition
Id the right to issue tax-exempt secu
e. ties. The existing system not OF
IN nermits a large amount Of the veal
We of the nation to escape its just o.
be den but acrs as a continual stImula
th to municipal extravaganza. This sho'
ut he prohibited by constitutional amer
ire ment. All the wealth of the nat
zip ought to contribute it's fair share
rs. the expenses of the nation.
ed, Tariff Law.
ally The present tariff law mas accC
ms nIiehad its two main objects. IL
not secured an abundant revenue
I'M .,.~,7,,o+ivn of an aDOundlng III