The Republican., 1924-09-11
OUR WASHINGTON LETTER

OUR WASHINGTON LETTER
Washington, D. c., Sept. Sec
retary Mellon, who has just returned
from London, is most optomistic re-
garding the outcome of the Dawes
plan for which, he says, the United
States not only deserves but is re-
ceiving credit from all of Europe.
Mr.. Mellon asserts that the benefits
which will accrue from reestablish-
ment of peace and financial stability
in Europe will so far outweigh any
injury which might result from Ger
man competition in the markets of
the world as to make the latter "com-
paratively negligible" He points
out that the loan provided for by the
Dawes plan is not, in essence, a loan
to Germany, but loan for a specific
purpose, the rehabilitation of German
industries and commerce; that it will
constitute a lien on German railways
and industries, and that the allied
nations have formally agreed to do
nothing to impair the security of the
loan so that, even should Germany
default in her reparations payments
and it become necessary again to res
tore to force or military occupation,
the first moneys collected by such
means will be applied to the payment
of the loan. For this reason the Sec
retary believes no difficulty will be
experienced in floating the loan and
he predicts that even larger sums will
be privately loaned to German indus
tries by American investors He
says experience clearly demonstrates
that the United States was much
more potent in promoting the adop-
tion of the Dawes plan than she could
have been if she had been a member
of the League of Nations, because as
it is she is in no way involved in
European politics and her efforts to
help have in no instance aroused the
slightest suspicion regarding the sin
cerity of her motives.
Anyone who could have been pres
ent at the meeting between the Pres
ident and the labor leaders at the
White House on Labor Day would
have realized how foolish was the
claim that labor is a unit for La
Toilette. A very considerable num-
ber of the most influential labor
leaders are for Coolidge and report
that their followers are as well. Of
course some are for La Toilette and
some are for Davis. The situation
this year is as it always has been,
that labor thinks for itself and diff
ferent men reach different conclus-
ions. But with the prosperity and
good wages now prevailing and with
every prospect of better times ahead
if the economic situation is not upset
by a political upheaval there is nc
likelihood of any great number of
laboring men being led away by the
vain promise of those who want to
tear down present prosperity to build
a new one on new and untested foun-
I dations.
John Draney, president of the Vet
erans' Association Branch of the Lo-
comotive Engineers, told President
Coolidge, he would support him, say
ing, "Let every man vote for his own
best interest as / shall vote for mine.
At the present time 1 have steady
work and l get high wages. I have
a family to support and children to
educate. With an administration that
is safe and solid, men with capital
will invest their money in this coun-
try and if they invest it I'll get the
share that goes with five days and a
half of solid, honest labor. And for
the interest of my family, and for
nothing else, I'm going to vote to
keep things as they are. We're going
to keep you in the White House, Mr..
President, so that my family and
can stay in our house." Joseph P,
McArdle, of the Brotherhood of Rail-
way Trainmen, who was counsellor
on labor legislation for that organi-
cation when Mr.. Coolidge was Gov
ernor, told the President he could
count on the support of all who knew
how squarely he had stood for the
''full crew bill"