Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1924-08-14
COOLIDGE ACCEPTS
WITH CONFIDENCE
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 the eve
ming Of August IA.
After outlining the sound foundation
of the party system of government,
the President said: Party means POI
iitical cooperation, not as an end In
itself, but means an instrument Of
government. If founded upon a great
moral principle and directed with
scrupuIous regard for fits integrity, 1t
cannot fail to sweep onward and up
ward. advancing always steadily and
surely, a mighty constructive force,
glorious bearer of progress.
'rhat 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 1t
confers and the responsibility 1t i'm
poses, 4 accept its nomination for
President of the United States.
Sin 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 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,
z Colombia Sor Mexico. the Far East
: situation caused grave sapprehen-
sions- Because of the war. "a reck-
less extravaganza had come to char
actsfize the administration of public
affairs and was all too prevalent In
private lifess The national debt had
risen to the staggering total Of $24,-
OO000OOOO, more than $1,000 100000
Of it in short-time obligations without
provision for payment Government
bonds were below par. High WIFI taxes.
burdened the people rehabilitation
and liquidation were Incomplete. Huge
railroad accounts remained unsettled.
Transportation was crippled. I'm
iiquidated foreign debts amounted to
81, OO0, OOO,O 900. Banks were flied 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 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 AZ other treaties
have met with the approval of the SEN
ate, while 6 still await action. Friend
ly 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. "our
expenditures were $5.53s OOO.O0O and
our surplus was $4,000. 600 For the
year Just closed our expenditures were
$34n7 100000. and our surplus exceed
ed $kC0. OOO, 900. This was reduction
In tise annual cost Of government Of
32O41 100000. The public debt now
stands 1T about $21 ESQ, 900 600, which
3 ~ Il reduction In three years Of about
S2,7b0. 100000 and means an annual
saving In interest OF more than $780,
100000. The $1,000, 900. 900 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 so that
during the present fiscal year the tax
receipts show saving to the people
Of approximately $6,000.OOO 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 been liquidat
ed providing funds for liQuidatins