The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1924-08-15
inc Farm situation.

Reviewing the situation of the farm
er. the President said that one Of the
first thoughts In 1921 was for the re-
lief and revival of agriculture as
fundamental industry, and touched
upon the credits Of between three and
four hundred million dollars extended
through the War Finance corporation,
an additional $50,000,OOO provided for
the relief Of the cattle industry, and
the formation of 100000 corpora
ti0n In the spring which, 1t was esti-
mated. can furnish $100,OOO.0 900 for d.
versifcation and relief In the North
west. He told Of the activities of the
intermediate credit banks, directly and
indirectly assisting 100000 farmers.
The President commented on the
present upturn OF prices for agricul-
tural products.
1.-THE government rendered a great
deal Of assistance" he said, "and
private enterprise co-operated, but the
fundamental remedy was provided as
1t always must be provided, not so
much through the enactment of legis-
lative laws as through the working
out Of economic laws. Because the
farmers have thoroughly realized this,
they have on the whole opposed price
fixing by legislation. While maintain
Ing that sound position, they have
seen a partial relief come in a natural
way, as 1t was bound to come
I'VE now need in agriculture more
organization, cooperation. and d.
versihcatton. The farmer should have
the benefit of legislation providing for
flood control and development Of In
land waterways. better navigation east
and south from the Crest Lakes,
reclamation, and especially relief for
those who cannot meet their pay
ments on irrigation projects. But the
main problem Is marketing. Co-opera-
tive effort. reorganization Of the
freight-rate structure, good business,
and good wages In manufacturing, and
the settlement of European affairs will
all help to provide better market con-
ditiOns.
"The Republican platform recognizes
that agriculture should be on a basis
Of economic equality with other indus
tries. This Is easy to say, but the
farmers themselves and their advisers
have never been able to agree on q
plan to provide 1t by law Now that
nature and economic law have given
some temporary relief, I propose,
therefore, to appoint a committee to
investigate and report measures to
the congress in December that may
help secure this result which we all
desire. I want profitable agriculture
established permanently. want to
see the dollar Of the farmer always
purchase as much as any other dollar.
Under the policy of protection and
restrictive immigration" he asserted,
mo defiation Of wages has occurred.
While the cost of living has gone
down. wages have advanced. The 12-
hour day and the seven-day week
have practically been abolished. The
uninterrupted operation Of public util-
tiles with mutually satisfactory and
legally established methods Of adjust
lHS idDOI QuCSt1OuS nave Uccu SOuRut.
Collective bargaining and voluntary
arbitration have been encouraged. Re
publican rule has raised the wage
Garner to a higher standard than he
ever occupied before anywhere in the
world"
Reduction Of Expenses.
President Coolidge then pointed out
that the people of the country, be-
cause Of the war have had to re-
create nearly one-fifth Of our national
resources. We can make up the loss,
he said, only by saving part Of what
we produce each day.
"It Is for that reason" he contin-
ued, that the present administration
has made every possible effort to cut
down the expenses OF government.
The expenses Of the government reach
everybody. Taxes take from every
one a part of his earnings, and force
everyone to work for certain part of
his time for the government.
"When we come to realize that the
yearly expenses of all the governments
In this country have reached the stu
pendous sum of about $7,500000, 900,
we get some idea of what this means.
OF this amount about $500, OOO, 900 Is
needed by the national government,
and the remainder by local govern
ments. Such sum is difficult to COM
prehend. 1t represents all the pay Of
100000 wage earners receiving IS
day, working 300 days In the year. If
the government should add on $780,
100000 Of expense, 1t would represent
four days more work Of these wage
earners. These are some Of the rea-
sons why I want to cut down public
expense.
Because of my belief In these prin-
ciples, favor economy that the taxes
Of everybody may be reduced. Much
has already been done. The bill which
/ signed will save the people about
100000 each day. ! want further
tax reduction and more tax reform.
The raising Of the revenue required to
conduct our government is intimately
connected with our economic welfare.
II 1t is done by wise and just laws, the
burden will be most easily borne. But
If the method of taxation Is not sound
disaster will follow, reaching even to
financial panic. Our first thought
should be to maintain unimpaired the
activity Of agriculture and industry
That tax Is theoretically best which In
terferes least with business.
Asks Just Taxation.
"Only about 100000 people pay d.
Hecf inc0ma taxes The remainder paw.