The Birmingham age-herald., 1924-10-24

the permanent court of international justice, under any desired conditions which may seem practical and which it can reasonably be anticipated would be agreed to by other interested na- tions.
 We stand committed to the policy of international conferences. as speci. fife occasions arise, to consider defi- nitely stated international problems, to provide further limitation of arma- ments, and to propose plans for the qualification of international law. But this government is opposed to the discussion in any international body or conference of questions which con cern our own purely democratic af- fairs. We are opposed to the can- cellati0n of the debts due to uSe from abroad and shall continue to seek their further liquidation"
 'No other sound and practical policy has been presented. In its pursuance we have maintained o1r ancient traditions we have secured peace; we have limited naval armaments; we have provided a plan and furnished finances for Euro pean settlement; and we propose to continue our efforts to promote interna- tional justice under international law, advancing towards the goal of outlawing aggressive war.
 ''The prosperity of the people is in timately bound up with the financial policy of the government. To my mind. the practice of public economy and in- sistence upon its rigid and drastic en- forcement is prime necessity.
 Recent compilations disclose that the present yearly cost of national and local governments has reached the stag gering sum of over S1O,OOO, ,OO0, ,OOO. The national government pays out one third, the local governments two thirds of this amount. This is about the sum that all the American farmers re- ceive for all their output for a year. It is 93 per cent of all wages and sal aries of industrial plants in the census of manufacturers.
 ''The present policy of the govern. ment has been to pay off the national debt and reduce the expen- ditures. Since June SO,' 1921 the national government has reduced its yearly expenditures about $2,OOO,- 100000. It has paid off about two and three-quarters billions of dollars of its debt and reduced it's annual in- terest by over $1SO,OOO,OOO It is estimated that the taxpayers of this country, by these actions, have been relieved each day by about $6,OOO.- 900. It is anticipated that the bud get of next year can be less than the appropriations of the present year. In 1920, the per capita tax was nearly $54; in 1924 it was under $50, and by 1926 it should be under $27.
 "A policy of economy has as its sole object the benefit of all the people Just prior to elections a great deal of talk is made about the taxes of the rich and poor. It can fairly be said that the national government does not tax the earnings of the poor family. Earnings of $2,500 are entirely exempt, and on $5,000 they would pay but $37.50.
 Low Tariff
 "A very material part of our revenue comes from the tariff, which is now running at the rate of about $550, ,000,- 900 per year. This is not withstanding the fact that we have the lowest tariff which the Republican party has enact ed since 1890, and that it is even lower than the democratic tariff of 1894. Nearly 57 per cent of our imports on