Evening star., 1924-10-29
MELLON URGES j. s.
TO COMMON SENSE
Secretary Declares Eco
nomic Conditions Give No
Reason to Change Regime.

secretary Mellon, in ii radio ad
dress from WRC last night. reviewed
the economic condi tions of the United
States and Europe. pointod to the ad-
vantageS acCruing to agriculture and
industry here under the Republican
regime and declared that our good
wages. ample employment, better ag-
riculture and strong credit call for
no change in our administration. but
for common sense to hold and fully
to enjoy these advantages
The Dawes plan he praised as "one
of the most important forward steps
ever taken in international co-opera
ton" whose service to the world "iS
inestimable." The result of the Dawes
plan, he added, should be growing
markets for American goods and a
stimulus. therefore, to American in
dustry.
With the full recovery of Germany
and other European nations" the Sec
retary said. 'it is possible that keener
competition may be felt in certain
lines which may necessitate some
gradual readjustments here. but the
general effect of a prosperous world
can only mean the broadening of our
markets and opportunities and a
quickening of our own economic de-
velopment."
Cites Italy and Russia.
The Secretary reviewed conditions
III Russia and in Italy. where radical
changes in established customs and
principles took place, and said that
where economic fallacies are attempt
ed or tn. millennium promised either
strong hand had to come in and
right things, or. instead, there came
tyranny. starvation and death.
"In our country" the Secretary CON
tinued, I'VE have avoided false gods
in the past. You will recall that we
escaped trial of that principal plank
of former Democratic platform
which maintained that the unlimited
coinage of silver in the ratio of 16
o | was the sole means by which we
might be saved.
But new theories are being con-
sinually presented, and we should
therefore, analyze the political prom
ises of today. SO when a candidate
proposes to cut the revenue from
tariff and taxes. which are the two
usual sources of Government receipts,
he should explain where he will find
50, 900, OO0 600 to run the Government.
when another candidate proposes
to embark the Government in railroad
and waterpower ownership; to in
crease wages; to decrease freight
rates; to increase prices; to decrease
cost of living, and to indulge gener-
ally in an orgy of spending, let him
submit the details of his budget. /
am sure no Secretary of the Treasury
could make it balance.
1T is the people who must pay for
this spending, since the Government
has only what it gets from them.
Therefore, before we burn down the
house we now live, we should at
least be permitted to see the plans
of the promised dwelling.
II have little sympathy with quacks.
Our ills, as they arise from time to
time, should be cured not by the in
cantation of a witch doctor but by
the application of we'll tried economic
principles and the intelligence and
initiative of the American people. Our
position today, at home and abroad, is
unsurpassed. Our good wages, ample
employment, better agriculture and
strong credit call for no change in
administration, but for common sense
to hold and fully enjoy these ad-
vantages,"