The Delta independent., 1924-08-15
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.

dent Coolidge in the nrSt great speech
of the political campalgn-hls 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
scrupulous regard for its integrity. it
cannot fail to sweep onward and up
ward. advancing always steadily and
surely, a mighty constructive force.
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 It
confers and the responsibility 1t i'm
poses, l accept Us 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. l 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
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,
! 0O0,0OO,000, more than S7,O00,0O0,oOO
of 1t in short-tlme obligations without
! provision for payment. Government
| bonds were below par. High war taxes
! burdened the people. Demobillzat ton
and liquidation were incomplete. Huge
railroad accounts remained unsettled
| Transportation was crippled. I'm
| llquidated foreign debts amounted to
| S11, 900 100000. Banks were filled 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 armaments
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 40 other treatlcs
have met with the approval Of the sen
ate, while @ stlll await action. Friend
| ly Intercourse with Greece and Turkey
has been resumed. Peace and Amerl-
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 30.
1921" President Coolidge said, "our
expenditures were S5,53s, 100000 and
our surplus was Ss6OOO.OOO For the
year just closed our expenditures were
SO, ,407 900 900, and our surplus exceed
ed 5000O0,0O0. This was reduction
In the annual cost Of government Of
$2,041 100000. The public debt now
stands at about S21 ,25O,OOO,OOO. which
is reduction In three yenrs OF about
81, ,750 100000 and means an annual
saving In interest Of more than si2O.-
100000. The $1,000. 100000 OF short.
time obligations have all been quietly
refunded or paid. The Internal reye-
nue. taxes have been reduced twice.
and many OF them repealed 50 TINT
during the present fiscal year the tnx
receipts show saving to the people
OF approximately $4,000, 900 n dny com.
pared with 1921. one government
bond has sold well over 1O5"
The President pointed out that more
than 40 per cent Of the debt due us
from foreign nations has been llguIdnt.
ed, providing funds for llQuldatlng
about $1,000, 100000 of the national
debt during "A 62-year term.
THE finances OF this milton hove
been managed with genius and n
success unmatched since the DAYS OF
Hamilton" Mr.. Coolidge declared.
"a great revival Of industry tool,
place, which Is spreading to ngrlcnI.
ture. Complaint OF unemployment Inns
ceased, wages have increased. Can.
itnl has become plentiful nt low rnte
of interest" Mr.. Coolidge declared.
"and the banks of our country, ns n
whole, show u high percentage of
! uqnld assets"