Evening star., 1925-11-20
COOLIDGE ASSURES
FIELD TO OBUS|NESS
Need Have No Fear of U. S.
Interference, He Says, in
New York Speech.
BY j. RUSSELL YOUNG.

BY j. RUSSELL YOUNG.
President Coolidge returned to the
Capital this morning after a notable
speech last night at the annual ban
quet of the Cha mber of Commerce of
the State of New York, in which he
made a pledge to the business of this
country that it need have no fear
of interference on the part of the
Federal Government so long as It re-
mains in its own field of productive
endeavor, and az the same time sound
ed warning that the Government
would tolerate no interference from
business.
The President urged a better under.
standing between business and Gov
ernmert, emphasizing strongly the
desirahiIity of the most independence
possible between the two.
His speech concluded with strong
appeal for American adherence TO the
Permanent Court Of International
Justice, the Executive saying that the
could think OF no more reassuriug ac-
ton than the declaration Of America
that it will whole-heartedly join with
other nations in the support Of the
tribunal for the administration OF in
ternational justice which they have
created.
1000 at Gathering
The scene of the gathering was the
famous old ballroom of the Waldorf
Astoria Hotel. More than 500 men
were seated about the banquet tables
In the two galleries We're possibly
200 guests. mostly women, who had
been invited to hear the President.
Mrs. Coolidge sat among the latter.
The Presidents speech was in
reality a business talk 70 business
The general welfare of the country
could be very much advanced, the
President declared, through a better
knowledge by Government and busi-
ness of the problems with which each
has to deal.
The President stated that when the
Government comes unduly under the
influence or dominance of business
the tendency is TO develop an admins
tration which closes the door of oppor-
tunlty and becomes narrow and self
ish in Its outlook, all OF which results
in an oligarchy, while If Government
enters the field Of business with all
its great resources it will have a
tendency toward extravaganza and in
efficiency. and, having the power to
crush all competitors, II likewise
closes the door OF opportunity and
results in what he described as
monopoly.
While sounding this warning the
President made the clear declara ton
that, judging from the general results
in this country in the past and the
present, the system of our institutions
has been advancing in the right direc-
ton.
Referred to Prosperity.
More than once during his remarks
the President referred to the pros
perity of the nation.
He explained that he used the word
business in his remarks in its all-in-
elusive sense to denote the employer
and employe, the production of agri-
culture and industry, the distribution
Of transportation and commerce and
the service Of finance and banking.
During his recital of the assistance
the Government has been in the ad-
vancement of industry the President
said he disapproved of what he term
ed the autocratic practice abroad of
governments directly supporting and
financing. business projects.
The whole policy of the Government
In it's system Of opposition to monop-
oily in business and it's public regula-
lions or transportation and trade, the
President declared. has been animated
by desire to have business remain
business, amplifying this by saving:
We are politically free people, and
must be an economically free people. /"
While assuring business that it is
not the Governments intention TO
hamper its advancement or to in
fringe upon its rights, the President
warned business that It would not
permit privileges and monopolies to
certain business which would stiflle
competition and hamper the Nations
progress.
Lauds Economy.
In very plain words the President
attributed much of the present "un-
exampled and apparently sound and
we'll distributed prosperity" to the
policy Of economy in national expen-
ditures which the Government had
adopted. making large tax reductions
possible. He added that a moderate
application Of the system Of protec-
tive tariff duties has contributed it's
share to the general stimulation OF
business.
The President praised the efforts
Of the Department of Commerce to
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