The Birmingham age-herald., 1924-12-04
doe Reminds Congress Of Need O Governmental Economy

upon the examination of this subject. It is in harmony with the traditional policy of our country, which is against aggressive war and for the maintenance of permanent and honorable peace. While, as I have said, we must safe guard our liberty to deal according to- our own judgment with our domestic policies, we can not fail to view with sympathetic interest all progress to this desired end or carefully to study the measures that may be proposed to at tain it. Latin America
 While we are desirous of promoting peace in every quarter of the globe, we have a special interest in the peace of this hemisphere. It is our constant desire that all causes of dispute in this area may be tranquilly and satisfac- torily adjusted. Along with our de. sire for peace is the earnest hope for. the increased prosperity of our sister republics of Latin America, and our constant purpose to promote co-opera- tion with them which may be mutually beneficial and always inspired by the most cordial friendships.
 Foreign Debts
 About s12,OOO, ,OOO, ,OOO is due to :.
 our government from abroad, mostly
 from European governments. Great
 Britain, Finland, Hungary, Lith.
 uania and Poland have negotiated ,-
 settlements amounting close to
 5000, ,OOO, ,OOO. This represents
 the funding of over 42 per cent of
 the debt since the creation of the
 special foreign debt commission. ;
 As the life of this commission is
 about to expire, its term should be
 extended. I am opposed to tho can
 cellation of these debts and believe
 it for the best welfare of the world +,'
 that they should be iquidated and
 paid as fast as possible. do not .s
 favor oppressive measures, but un.
 less money that is borrowed Is re. 'a
 paid credit can not be secured in :;
 time of necessity, and there exists 2
 besides a moral obligation which our country can not ignore and no '
 other country can evade. Terms and conditions may have to con- :
 form to differences in the financial #
 abilities of the countries concerned, : but the principle that each country !
 should meet its obligation admits of . no differences and is of universal application. on It is automatic that our country can- not stand still. It wound seem to be- perfectly plain from recent events that it is determined to go forward. But it. wants no pretenses, it wants no vag- aries. It is determined to advance i'm an orderly, sound and common-sense way. It does not propose to abandon the theory of the declaration that the people have inalienable rights which mo- majority and no power of government can destroy. It does not propose to. abandon the practice of the Constitu- tion that provides for the protection of these rights. It believes that within these limitations, which are imposed not by the fiat of man but by the law of. the Creator, self-government is just arfd wise It is convinced that it will be impossible for the people to provide their own government unless they con- tinue to own their own property. /
 These are the very foundations of America. On them has been erected a government of freedom and equality, of justice and mercy, of education and. charity. Living under it and support ing it the people have come into great possessions on the material and spirit ual sides of life. I want to continue in. this direction. I know that congress shares with me that desire. l want our institutions to be more and more expressive of these principles. l want the people O. all the earth to see in. the American flag the symbol of gov ernment which intends no oppression at home and no aggression abroad, which in the spirit of a common broth- erhood provides assistance in time Of distress. :,