Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-08-16
PROMISES FURTHER
CUT I'M TAXES AND
STRiCTEST ECONOMY
Continued from Page u

to secure responsible political action
was by the formation of parties
which they adopted because reason
pronounced it the most promising
and continued because practice found
it the most successful.
Underneath and upholding polit
ical parties, was, and is, the endur
ing principle that a true citizen OF
real republic can not exist as a
segregated, unattached fragment OF
selfishness, but must live as a con
stituent part of the whole Of society
in which he can secure his own wei
fare as he secures the welfare OF
his fellow men.
Party means political co-opera-
ton, not as an end in itself, but q
means, an instrument of govern
ment. If founded upon a great moral
principle and directed with scrupu
lous regard for it's integrity, it can
not fail to sweep onward and up
ward, advancing always steadily and
surely, a mighty constructive force,
"a glorious bearer of progress.
'fThat is what the Republican
party always has been and is today
In full faith that such 1t will con
tinue to be, deeply conscious of the
high honor it confers and the re-
sponsibilty it imposes, I accept its
nomination for president of the Unit
ed States.
''In the history Of our country is
recorded the public services rendered
by our party for more than three
score wears. That is secure.
81 pass on to the recent past ana
the present.
The Postwar Period
"It is easy to forget. but the I'M
preston which the condition OF our
country in March, 1921, MADE upon
the people was so deep, so ViVlo'
so alarming, that It will not soon
pass away. -,
lover two years after the arm-
stice we were still technically III
state of war. We had no diplomatic
relations with Turkey, Greece NUS
STA. Colombia, or Mexico, ana the
Ear East was causing grave appre-
tensions. In raising ana eApehu
ing for war a vast amount Oh money
4 reckless extravaganza had come
Z cbaracterize the administration
e subtle affairs and was all too prev
alent in private life.
ssAn enormous debt had been con-
aracted. then standing at about S14''
100000 600. of which more than 80
A00tOOO 900 was in short-time. oDllsa-
sions without any provision for pay
pnent. Government bonds were 1ar
below par. The high wartime taxes
still burdened the people.
;I Rehabilitation and liquldatlon re-
synsined to be completed. Huge &C,
counts with the railroads were sun
s,3nsettIed. Transportation was Grip
.nled over 81, 900, 100000 OF unIqul-
.dotad debts were due to US from
.foreion countries. The whole peo'
.nle- were suffering from a tfeliien,
-sous deflation. Our banks were tiilou
with frozen assets, and eVeryWheie
xcute financial distress existed III
Ierest was high. Capital was scarce,
approximately 100000 people were
without employment. - .r
!. mo adequate provision mao pee
made for the relief OF dlsaoleu Vet
Grams and their dependents lel
s,os an avalanche of war-worn peo-
n1es and suddenly cheapened !nel'
rhandise impending upon us Hoii
foreign lands. a+;I on
eThe great powers were sun en-,
c.eed in burdening their people ny
building competitive armaments'
Major Problems Faced
.grhis staggering array indicates
so,oa IF the major problems of TINS
60 ra+ioin Perhaps in no peace
.;,,,a neriod have there been more
rar,ariyahle and constructive accom-
ssIi-I,-,ents than since March, l9zl.
1--WE have ratified separate urea
tics of worldwide importance VIII
f.ermanv Austria, Hungary, Colonl-
hia and Mexico. Forty-two otner
treaties have been approved by the
senate and six treaties are now
awaiting it's action. Friendly lhtei
course has been resumed with Iur-
iev and Greece, and we have estap-
iished our rights and insured peace
In the Far East and the PACIFIC
pecan. 49,,
"Our foreign relations have been
handled with a technical skill and d
broad craftsmanship which has sell
dom. if ever, been surpassed.
'In the domain of finances a
budget system was promptly enact
ed and put into operation, resulting
In tremendous savings. For the us
cal year ending June 80, 1911 our
expenditures were $5,53S, 100000, and
BUR surplus was $S6,000.O0O.
For the year just closed our eX-
Npenditures were $3,497, 100000, and
our surplus exceeded $500,000,00
This was a reduction in the annual
cost of government OF $2,041 ,0OO,O
4 THE public debt now stands at
pbout $21,250, 100000, which is re-
deduction in three years of about So
ESQ, 900, 900 and means an annual saw
ing in interest OF more than $780,
100000 The $1,000, 100000 of short
time obligations have all been quietly
refunded or paid.
Taxes Reduced
4 1.-THE internal revenue taxes have
been reduced twice, and many of
them repealed, Sc that during the
present fiscal year the tax receipts
will show a saving to the people of
approximately S6,000,000 a day com
pared with 1921. One government
bond has sold well over 105.
s"More than 40 per cent of the
amount of debts due us from foreign
countries has been liquidated, and
will provide funds for the retirement
or about $13,000.0 900, 900 of the prin.
cipal of or national debt in the
course of 81 years.
The settlements are not only stu.
pendous financial transactions, but
demonstrations Of the most profound
Nature of international good faith
and the dominion over international
relations of moral power.
The finances of this nation have
been managed with a genius and a
success unmatched since the days OF
Hamilton.
The army and navy have been re
duced To the low peace-time basis
and surplus materials and supplies
converted into cash. Hundreds OF
millions of accounts have been set
tied with the railroads. which have
been financed without any public ex
pense so that they could Adequately
serve the greatest peace-time com
],