Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-12-07

noes to that end none can deny On,
aeierred interest alone amounts To !
mffion collars every day. Rut re.
Gently We offered to aid with our ad.
wee and counsel. we have reiterat.
ca our desire to see France paid and
germany revived. We have proposed
disarmament. We have earnestly
sought to compose differences and
restore peace. We shall perseyere in
Weh-ooing, not by force, but by rea
Foreign Papers
Cnoer the law the papers pertain
ing 70 foreign relations to be printed
are transmitted as a part of this mes
sage. Other volumes of these naners
will follow.
Foreign Service
The foreign service of our Govern
nent needs to be reorgapized and
Fiscal Condition
our main problems are domestic
problems. Financial stability is the
hrst requisite of sound government
we can not escape the effect of
world conditions. We can not avoid
the inevitable results of the economic
disorders which have reached all ma
tions. But we shall diminish their
harm to us in proportion as we con-
tfnue-to restore our Government fin
anceS to a secure and endurabl posi-
ton. This we can and must do. Up
on that firm foundation rests the only
nope of progress and prosperity
From that source must come relief
for the people.
This is being accomplished by a
drastic but orderly retrenchment
which hrira eri, ,er
In our. means. The origin of this
has been the determination OF the
American people, the main support
has been the courage of those in au-
thority. and the effective method has
been the Budget System. The result
mas involved real sacrifice by depart
ment heads, but it has been made
without flinching. This system is a
law OF the Congress. 1t represents
your Will. 1t must be maintained
and ought to be strengthened by the
example of your observance. With
out a Budget System there can be nc
fixed responsibility and no construc
tive scientific economy.
This great concentration of effort
by the administration and Congress
has brought the expenditures, exclu
sive of the self-supporting Post Of
fice Department, down to three billion
dollars. 1t is possible, in conse-
quence. to make a large reduction in
the taxes of the people. which is the
sole object of all curtailment. This
is treated a. greater length in the
Budget message, and proposed plan
has been presented in detail in a
statement by the Secretary of the
Treasury which has my unqualified
approval. I especially commend a
decrease on earned incomes, and fur
Their abolition of admission, message
and nuisance taxes. The amusement
and educational value of moving pic
lures ought not to be taxed. Dimin-
lshinG charges against moderate in
comes from investment will afford
immense relief while a revision OF
the surfaces will not only provide ad
ditional money for capital invest
nient, thus stimulating industry and
employing more labor, but will not
greatly reduce the revenue from that
source, and may in the future actual
ly increase it.
Being opposed to war taxes in time
of peace, l am not in favor of excess
profits taxes. A very great service
could be rendered through immediate
enactment of legislation relieving the
people of some of the burden of tax
alton. To reduce war taxes is TO give
every homo a better chance.
For seven years the people have
borne with accomplishing courage
the tremendous burden of national
and local taxation. These must both
be reduced. The taxes of the Nation
must be reduced now as much as
prudence will permit. and expendi-
lures must be reduced accordingly
High taxes reach everywhere and
burden everybody. They bear most
heavily upon the poor. They dimin
ish industry and commerce. They
make agriculture Improbable. They
increase the rates on transportation
They are a charge on every necessary
of life. OF all services which the
Congress can render to the country
| have no hesitation in declaring this
one to be paramount. To neglect it.
to postpone it. to obstruct it by I'M
sound proposals, is to become I'M
worthy of public confidence and UNI
true to public trust. The country
wants this measure to have the right
of way over all others.
Another reform which is urgent In
our fiscal system is the abolition OF
the right to issue tax exempt Sc
Ctii ltlcS. L lie. eNlSllllS SYSTEM no.
only permits a large amount of the
wealth of the nation to escape its
Just burden but acts as a continual
stimulaht to municipal extravaganza
This should be prohibited by consti-
tutional amendment. All the wealth
of the nation ought y contribute its
fair share to the expenses of the ma
ton.
Tariff Law
The present tariff law has accom-
plished it's two main objects. 1t has
secured an abundant revenue anc
been productive of an Astounding
prosperity. Under it the country has
had a very large export and import
trade A constant revision of the
tariff by the Congress is disturbing
ana harmful. The present law con
tains an elastic provision authorizing
the President to increase or decrease
present schedules not in excess of 81
per centum to meet the difference II
cost of production at home anc
abroad. This does not. to my mind
warrant a rewriting of the whole law
but does mean. and will he so admin.
| istcred. that whenever the required
investigation shows that inequalities
of sufficient importance exist in any
schedule, the power to change then
should and will be applied.
/ Shipping
The entire well being of our coun,
try is dependent upon transportation
by sea and land. Our government
! during the war acquired large
merchant fleet which should be trans
fc,red, as soon as possible. to- prl'
yate ownership and operation undcl
conditions which would secure tive
results: First. and of prime import,
,nce adequate means for nationa
! defense: second. adequate: service tt
i American commerce. Until shippinf
! conditions are such that our fleet car
be disposed of advantageously undel