The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1924-08-16
J ACCEPTS.
IiIp cnNrlDEMcF|
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 campaign-his speech
accepting the nomination as President
offered him by the Republican party,
and delivered in Washington h 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 n In
itself. but a means, an instrument OF
government. If founded upon a great
moral principle and directed with
s%crupulous regard for its integrity, II
cannot fail TO sweep onward and up
ward, advancing always steadily and
surely, a mighty constructive force. a
glorious bearer of progress.
THAT is what the Republican party
always has peer and Is today. In full
faith that such it will continue to be.
deeply conscious of the high honor 1t
eonfers and the responsibility it i'm
poses, I accept its nomination for
President of the United States.
I'm 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.
IT. r-z.{l0.A -As,&oI Dr& fhn nom
dition Of the nation In March, 1921,
when the Republicans resumed the
reins Of government after a lapse Of
eight years. Though more than two
years had passed since the armistice,
the nation was still technically in a
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-
Hess extravaganza had come to char
Rcterize 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 $1,000. 100000
Of 1t In short-time obligations without
provision for payment. Government
bonds were below par. High val x
burdened the people. Rehabilitation
and liquidation were incomplete. Huge
railroad accounts remained unsettled.
Transportation was crippled. Tn
llquidated foreign debts amounted to-
81, 900 900. Banks were filed with
frozen assets. Interest was high, capt.
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 ornaments.
An avalanche of ar-w people and
cheapened merchandise impended
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
and Mexico, that 40 other treaties
have met with the approval of the sen
ate. while 6 still await action. Friend
iy intercourse with Greece AMI Turkey
has been resumed. Peace and Ameri-
can rights have been assured in the
Far East and the Pacific.
Turning to finance, the President
BALLAD affanffOn RI tho a1fpnant ~
the budget system, and the resultant
tremendous savings.
"For the fiscal year ending June 80.
1921" President Coolidge said, 'our
expenditures were IS, 200, 900 and
our surplus was SS6.O00,OOO. For the
year just closed our expenditures were
ss.497 100000. and our surplus exceed
ed $500.000.000. This was a reduction
In the annual cost Of government Of
$2.041. 100000. The public debt now
stands at about s21. 25O,O00,OO which
is a reduction In three years Of about
s2,750.000.0O0 and means an annnal
saving in interest of more than $780,
100000. The 81, 100000 of short
time obligations have all been quietly
refunded or paid. The internal reve-
nue. have been reduced twice.
and many of them repealed. so that
during the present fiscal year the tax
receipts show a saving to the people
of approximately $6,O00.O 900 a day com
pared With 1921. One government
bond has sold well over 105."
The President pointed out that more
than 40 per cent of the debt due US
from foreign nations has beer Iiauidat-
ed, providing funds for liquldatlng
about $4,000. GOO, 600 of the national
debt d-ring a 62-year term.
1.-THE finances Of this nation nave
been managed with a genius and a
success unmatched since the days of
Hamilton" Mr.. Coolidge declared.
"A great revival of Industry took
place. which is spread NJ 70 agrieul-
tire. Comp aint IT unemployment has
ceased. ages have Increased. cap
ital has become plentiful at n low rate
Or interest,". Mr.. Coolidge declared.
'and the hi INKS Of our country. ms a
" hole. sho' "a high percentage OF
lftftif "esn'4