, 1924-08-21
Has Abiding Faith in judy
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.

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 It's Integrity, II
cannot fail to sweep onward and up
ward, advancing always steadily and
surely. a 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 1t will continue to be.
deeply conscious of the high honor II
cohfers and the responsibility 1t i'm
poses. I accept Its nomination for
President Of the United States.
"In the history OF our country - re-
corded the public services rendered by
u 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 4 lapse Of
eight years. Though more than two
years had passed since the armistice.
the nation was still technically in q
state Of war. No diplomatic relations
existed with Turkey. Greece. Russia.
Colombia or Mexico. the Far East
situation caused grave a%pprehen-
sions." Because Of the war. "a reck-
. extravaganza had come to char
acterixe the administration OF public
Affairs and vas all too prevalent in
private life" The national debt had
risen to the staggering total Of S24,-
OOO. OOO.O 900. more than $7,O0O.O00,OOO
Of II in short-tlme obligations without
provision for payment. Government
bonds We're below par. High war taxes
burdened the people. DemObiliza'iOn
and liquidation were incomplete. Huge
railroad accounts remained unsettled.
TRANSFORMATION was crippled. I'm.
I%i1uIdated foreign debts amounted to
81 900. 10000 Banks were filled with
frozen assets. Interest was high, CAPT.
tai scarce. and financial distress acute.
About 100000 we're without employ
ment. No adequate provision had been
mnde for relieving disabled veterans
md their d~ependcn,s. The great now.
ers continued to burden their peoples
by building competitive ornaments
An avalanche of wur-worn people n
cheapencd merchandise impcnded
upon America from foreign lands. The
President poInted ont.
Turning to the settlement Of these
vast problems since the start Of the
Rcpublicnn regime. tho presidcn,
po,ntcb mn, Nm, ,rcn,,es n, wor,d.wis.
iunor,,ncc have hccn ro,,sed Win
GERMANY Avs,rIo Urprory Co,omh,n
md Mcr,co Tim, 40 other treaties
bnvc me-, with Tho opnrovoI n, the sen.
n,e Will. a an, ,w,,, action Fr,cnd.
Iv Intercourse ,.,,h Cra... and rrrror
IN. been resumcd peace and Ameri.
can rights have bccn assured IN the
Far E:n,t n IN. poc,sc' -
Turnin, 10 finance tho prcsIdep,
called n,,.n,Ior m the er,c,mer, q,
m. hud,., .y,,o,n ana ,h. ,..,,,,r,
tremendous rnyInr,
..For the fiscal vc,r .ns,rv Inn. m
1921" prc,idcr, coo,,Ira so,d San,
expenditure. were AZ ms oo M md
Bur surpiu, wn. ss00oOoo0 Far rho
year lust closed our w.,.
g. .4o1. ooooOO nnd our .nrn,u. cxc..d.
ed $500. 100000. Thi. wn, , reduc,,or
in tho ANIMAL cost Of rovcrnmen, -,
b. O4i. Ooo.0OO The n,h,,. S.h,, ,,,,.
stands At about soi go q oH ~,h,c,,