Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-08-26
Business Regime
Republican Party
Reviewed by Risley
Especial to Kennebec Journa


Lisbon Falls, Aug. 25--The re-
markable achievements OF the Re-
publican administration during the
past four years was successful pre-
scented here tonight by Hon. Theo-
dore G. RiSley of the Labor Depart
| ment at Washington before a large
| assemblage of citizens The speaker
held the closest attention through
out and the points brought out was
loudly applauded.
The chairman of the town COM
| mittee of Lisbon Falls, H. +. Plum
mer presided. He introduced the
speaker of the evening as we'll as
Charles B. Carter of Lewiston, who
is candidate for State senator Mrs.
Jennie +. Kregcr of Fairfield who
spoke in a clear and force way on
State issues.
Mr.. Risley said in part:
The administration came into
power at the time when 4,00O, 600
mon had been demobilized from the
army and more than 100000 dis
charged from the various kinds OF
war industry. 1t found five million
! laborers idle. 1t at once commenced
policy of reconstruction and econ
omy in the public expenditures and
no administration has ever achieved
such financial accomplishment as the
Harding-Coolidge Administration. 1t
! has paid in three years two billion
seven hundred twenty-five million
three ninety six thousand three hun
dred thirty one dollars and 40 cents
on the national debt. 1t has reduced
~
hundred and twenty million dollars.
I'm the budget system which was
organized by General Dawes we
have reduced our governmental eX-
penditures more than two billion
over the expenditures of 1921. The
reduction of taxes and other expen-
ditures amounts to one billion two
hundred and fifty million annually.
And the loans made to Great Britain
and Finland alone. We are receiving
one hundred and sixty million dol
lars annually for interest.
I'm 1922 we had a surplus of three
hundred fourteen million dollars:
1923 three hundred and ten million
dollars and in 1924 five hundred mil
lion dollars. The 81 Congress which
was Republican and acted more con-
structive foreign legislation in the in
terest of agriculture than had been
enacted in the preceding half CEN
tury. Financial aid had been ex-
tended to our farmers and livestock
producers for the purpose of enab-
ling them to meet defiation and cur
tailment of farm products brought
about by the Democratic administra-
ton, of more than one billion. three
hundred fourteen million dollars.
One of the principal causes of the
decline in prices of farm production
was the unemployment of American
wage earners. In 1921 the consump-
ton of meats decreased seven
pounds per capita.
Exports of American farm prod.
ucts for the year 1921 we're the
greatest ever known but the Ameri-
can farmers went broke largely be-
cause American wage earners were
unemployed. The country was be.
ing flooded under the Underwood
tariff bill by the production OF
cheap European labor. One of the
first acts of the Harding administra-
ton was the enactment of the EN-.
Urgency tariff to protect our farm
ers from an avalanche of imported
farm products.
Inc eny-MacumDer tarln
yielded approximately six hundred
million dollars in revenue last year
The price of any commodity has
gradually decreased since its enact.
ment and American labor Is fully
employed.
THE Republican party has enact.
ed 50 percent of all the beneficial Ia
Dor laws in the country during the
last fifty years. President Coolidge
as q member Of the Massachusetts
legislature and Governor of that
state was instrumental In enacting
% laws designed to improve the con.
ditions of American labor and has
repeatedly received a hearty thanks
and commentator of labor organi.
cations.
President Harding and Secretary
Hughes found our foreign relations
in a state of semi-chaos. This ad
ministration has not only pursued
consistent and wise policy but hal
concluded more than 80 treaties o.
commerce and peace with other ma
lions. The result OF the Washington
conference for the limitation OF com
refifiya arm q nnenk WILL afAnA out In