The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1924-08-14
81 9, "a Eszs y! e-Tcrg
COOLIDGE ACCEPTS
WITH CONFIDENCE
Has Abiding Faith in Judg-
ment of People on Ac-
complishments and
Purposes.
SEEKS PEACE AND THRIFT
Wants Opportunity for All, No
Government Monopolies, In
dependent But Helpful
Foreign Policy.

Washington, Aug. 14.-No single
question vital to the people of the
United States was lodged by Presi
dent Coolidge In the first great speech
of the political campalgn-his speech
accepting the nomination as President
offered him by the Republican party
and delivered In Washington the eve
ming of August Ia.
After outlining the sound foundation
of the party system of government,
the President said: PARTY means po-
litical cooperation, not as an end In
itself, but a means, an instrument of
government. If founded upon great
moral principle and directed with
.crupulous regard for Its integrity, 1t
cannot fall to sweep onward and up
ward, advancing always steadily and
surely. mighty constructive force, a
glorious bearer of progress.
THAT Is what the Republican party
always has been and is today. In full
faith that such 1t will continue to be,
deeply conscious of the high honor II
confers and the responsibility ii I'M
poses, | accept its nomination for
President Of the United States.
'In the history of our country is re-
corded the public services rendered by
our party for more than the three
score years. That is secure. pass
on to the recent past and the present"
Progress Of Four Years.
The President pointed out the con-
dltion 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 n
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 S24,-
000.000,000, more than S7,000,0O0,000
of 1t In short time obligations without
provision for payment. Government
bonds were below par. High war taxes
burdened the people Rehabilitation
and liquidation were incomplete. Huge
railroad accounts remained unsettled.
Transportation was crippled I'm
liquldated foreign debts amounted to
$11 100000 900. Banks were filled 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 war-worn people md
cheapened merchandise lmpended
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
md Mexico tbot 40 otber traoties
have met with the annroval of the son.
ate while q stiu await action Friend.
~ Intercourse with Greece and Turkev
has been resumed peace md Ameri-
can rights have been assured In tho
Far East and the Pacific.
Turning RI enonca tho pros,,or,
called attention tn tho enactment ~
tho budget svstem and tho resultont
tremendous savings
"For the fiscal wear ending June On
1921" President Coo,,dpe sold "our
exnendltures were 81 has 600 600 and
our surplus was SS6 600 600 For tho
wear lust closed our expenditures wore
81 4o7 900 600 and our surp,ns excead.
cd $500 600 900 This was n reduction
in the animal cost of government os
81. O41 900, 900. The puhlic debt now
stands at about 1921 25o 600 ONO which
is a reduction In three vears Of ohou,
81. 75O 900 600 and means mn ann,o,
saving I'm interest NJ moro tba, Stoo
600. 900 The $1,000 oO0 600 Of short.
time obligations have nil been ou,at,v
refunded or mid The internal rove.