Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1924-08-14
COOLIDGE ACCEPTS.
WITH Confidence
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 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. II founded upon a great
moral principle and directed with
scrupulous regard for ITS integrity. II
cannot fail to sweep onward and up
ward, advancing always steadily and
surely. q 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 II will continue to be.
deeply conscious of the high honor It
confers and the responsibility It Inn
poses. I accept It's 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-
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-
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,-
O00,O00OO0, more than $7,OOO,O00,OO0
Of 1t In short-time obligations without
provision for payment. Government
bonds were below par. High war taxes
burdened the people. disqualification
and liquidation were incomplete. Huge
railroad accounts remained unsettled
transportation was crippled. Un-
liquidated foreign debts amounted to
81 900, 100000. Banks were filled with
frozen assets. Interest was high, capl-
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 war-worn 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 ~ other treaties
have met with the approval Of the SEN
ate. while 9 still await action. Friend
" Intercourse with Greece and Turkey
has been resumed Peace and Ameri-
can rights have been assured in the
Far East and the Pacific.
Turning to finance. the President
called attention to the enactment of
the budget system. and the resultant
tremendous savings.
For the fiscal year ending June 80.
1921" President Coolidge said, aour
expenditures were $5.53S. 100000 and
our surplus was $4,000. 900. For the
year just closed our expenditures were
s8.497 10000 and our surplus exceed
"a 500.000.000. This was a reduction
In the annual cost Of government of
e2.041 100000. The public debt now
stands at about S21 $50. o0O, 600, which
b Q reduction In three years Of about
e2750.000.000 and means an annual
saving I'm interest Of more than $780,
100000 The s7.0O0.O0OOOO OF short
time obligations have all been quietly
refunded or paid The internal reve-
nue. taxes have been reduced twice,
and many Of them repealed. 20 that
during the present fiscal year the tax
receipts show q saving to the people
OF approximately $4,000. 900 q day com
pared with 1921 One government
bond has sold well over los"
The President pointed out that more
than 20 per cent Of the debt due Us
from foreign nations has been iiquidat-
ed. providing funds for Iiquidating
about $4,000 10000 of the national
debt during q 62-year term.
The finances Of this nation have
been managed with a genius and q
success unmatched since the days Of
Hamilton Mr.. Coolidge declared
"A great revival OF industry took
place. which Is spreading TO agricul-
ture. Complaint Of unemployment has
ceased. wages have Increased Cap
itai has become plentiful AT low rate
Of interest" Mr.. Coolidge declared
sand the banks Of our country. as
whole. show high percentages Of
liquid assets-"