The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1924-10-17

dent OOUluRc udu tuC iohO"iu6 u
say regarding government f.
nances, the budget and the protec-
tive tariff.
preorsss Of Four Years.
The President pointed out the con-
dition Of the nation in March, 1921,
when the Republicans resumed the
reins Of government after lapse of
eight years. Though more than two
years had passed since the armistice,
the nation was still technically in a
state Of war. No diplomatic relations
existed with Turkey, Greece, Russia,
Colombia or Mexico, the Far East
situation caused grave apprehen-
sions." Because Of the war, "a reck-
less extravaganza had come to char
acterize the administration of public
affairs and was all too prevalent IN
private life" The national debt had
risen to the staggering total Of $24,
0OO, 900. more than $7,000,000, 900
Of 1t In short-time obligations without
provision for payment. Government
bonds were below par. High war taxes
burdened the people. Demobilization
and liquidation were incomplete. Huge
railroad accounts remained unsettled.
Transportation was crippled. Un
nQuidated foreign debts amounted to
81, ,O0O. .O0O, 900. Banks were filed with
frozen assets. Interest was high, capi-
tai scarce, and financial distress acute.
About 100000 were without employ
ment. No adequate provision had been
made for relieving disabled veterans
and their dependents. The great pow
ers continued to burden their peoples
by building competitive armaments.
An avalanche Of warworn people and
cheapened merchandise impended
upon America from foreign lands, the
President pointed out.
Turning to the settlement of these
vast problems since the start Of the
Republican regime, the President
pointed out that treaties of worldwide
Importance have been ratified with
Germany. Austria, Hungary, Colombia
and Mexico, that AZ other treaties
have met with the approval of the SEN
ate, while 6 still await action. Friend
~ intercourse with Greece and Turkey
has been resumed. Peace and Ameri-
can rights have been assured in the
Far East and the Pacific.
Turning to finance, the President
called attention to the enactment of
the budget system. and the resultant
tremendous savings.
For the fiscal year ending June 80,
1921" President Coolidge said. "our
expenditures were $5-53S, 100000 and
our surplus was $S6,0OO,0OO. For the
year just closed our expenditures were
So. .497 .OOO, 900, and our surplus exceed
ed $500, 100000. This was a reduction
IN the annual cost of government Of
81, 2,041 100000. The public debt now
stands at about $21, ,250,OO0, 900, which
Is 4 reduction In three years of about
81, ,75O, 600, 900 and means an annual
saving In interest Of more than $12O,-
100000 The $7OOO,OOOOOO OF short
time obligations have all been quietly
refunded or paid. The internal reve-
nue. taxes have been reduced twice,
and many of them repealed. so that
during the present fiscal year the tax
receipts show saving to the people
OF approximately $6,0O0000 day COM
pared with 1921 One government
bond has sold well over 1O5."
The President pointed out that more
than 40 per cent Of the debt due us
from foreign nations has been llquidat-
ed, providing funds for liquldating
about $4,000, 100000 of the national
debt during 62-year term.
"The finances Of this nation have
been managed with genius and
success unmatched since the days Of
Hamilton" Mr. Coolidge declared.
"A great revival of industry took
place. which is spreading to agricul-
ture. Complaint Of unemployment has
ceased wages have increased. Cap
ital has become plentiful at low rate
af. interest" Mr.. Coolidge declared,
"and the banks Of our country, as a
whole, show high percentage Of
liquid assets"
Speaking Of the generous laws
PASSED to relieve disabled veterans,
ihe President said that more than H.
100 have been rehabilitated, $4,000 OF
whom are earning more than they did
before the war Compensation Is be-
ing paid at the rate Of about Sl0O,-
100000 year, soon to be increased
hy s$S0.0OO.0OO more, $40O0O,00O have
been provided for hospital facilities,
which are open to veterans OF all
American wars.
mo government" the President de-
clared, ever provided so generously
1or those disabled by service In times