Evening star., 1925-04-07
COOLIDGE DEFENDS
ECONOMIC POLICIES
Tells Cotton Men Tariff and
Free Export Have Done
Much for Industry.

President Coolidge defended the
giving OF preference to home IN
dustry as a factor in its growth and
contrasted the American policy of
free export of raw materials with
the discriminatory practices of some
of the other countries OF the world
IN an address delivered last night
during banquet of the National
Cotton Manufacturers Association
at the Willard Hotel.
There were more than 400 men and
women gathered about the tables in
the large ballroom on the tenth floor.
and he was applsuded frequently
during his uttersnces. Mrs. Coolidge
accompanied him and sat at his right
at the main table. Besides making
a stanch defense of the American
tariff and the tariff policies of the
Republican party. President Coolidge
gave human touch and occasional
dash of humor to his speech.
Remarks Stir Laughter.
In the latter respect. his reference
to the shortness in womens skirts
affecting the textile industry pro-
voked much laughter and hand
clapping. However, there was
nothing in his remarks regarding
which would cause the manufacturers
present to feel encouraged at their
proposal Of an increase in the
schedule on manufactured cotton
materials.
The President reviewed American
husiness and industrial progress
commencing the expansion OF the
textile industry and the building up
Of mass production. which, he said,
la% IT.
Incidental to these references ne
mildly warned industry that the Gov
ernment expected il to conform TO
the law and observe human and help
full relations with its employees
Nindication of Tariff.
Justifying the tariff. the President
declared the towering stature of our
industrial structure, as we see IL TO-
day, is the best-is, indeed, the COM
plete vindication of this policy
There has been at some times
and in some quarters disposition 10
criticize the American policy of con-
serving first opportunity in our nome
market for our own producers, he
said. I'VE can hardly expect that
such a program would be popular
with those who find themselves
placed at disadvantage in the
greatest market of the world, which
IL the American market. But those
who would charge US with seinsh-
ness in thus giving first thought 10
home interests would do well 10
consider whether their own policies
in this regard are more liberal than
ours.
We have established here the
nrartjce of absolute free trade
throughout great continental area
of IS States besides other possessions
II is the most widely extended ap-
pIjcation of that policy that will be
found anywhere. Within this 40
main we have an extent ana variety
of natural resource far beyond those
of any other country. Yet from our
national beginning we have sought
no advantage by reason OF TINS
pr,macy in natural resources. Who
ever wanted them was free TO come
here and buy our raw m1terlalS Al
exactly the same price as our own
people. Such staples as copper, cot
ton and petroleum might have oeen
made the basis on which to bulio
great national monopolies- Yet theE
have been as freely available to the
industries of other countries as TO
our own. Under our Constitution our
export trade is free OF duty.
Generosity Of America.
L
icism of our industrial policies, l
have been tempted to wonder how
many other peoples, endowed with
the same natural wealth. the same
possibilities of maintaining something
like monopoly, would have been as
generous with the rest of MANKIND
as the Americans have been MOI
few among US have even been IN
clined to fear lest our liberality in
;-~Lt lar
at disadvantage in comparison with
countries more willing to exploit
their opportunities for monopoly or
less liberal with their natural re-
sources.
"I do not refer to these matters
with any intent of criticizing the
countries whose methods differ from
our own. We freely concede their
right to determine their economic
procedures with a view to what they
believe their own best interests. But
it is only fair that we should keep in
mind all the justifications for policies
of our own which have sometimes
been unfairly criticized.
Tells of Budget.
The workings of the budget and
the vital part 1t is playing in the sue
resrful operation of the Federal Gov
ernment and in the reduction of the
tax burdens of the people were de-
scribed by Brig. Gen. Herbert NJ.
Lord, director of the budget. The
latter was loud in his praise for
President Coolidge's economy pro-
gram He stated that back of the
Presidents continuing appeal for
economy is the unalterable inten-
ton of him to further reduce taxes.
Gen. Lord said that, following the
instructions of President Harding,
made at the inception of the Budget
Bureau, the constant endeavor had
been to cut down the operating cost
of the Government and the public ex-
pense to an annual sum of $4,000, ,000,
600. This object. he pointed out, was
one that required the utmost economy
and task of extraordinary under
taking, yet in the fiscal year of
1924 the Budget Bureau had reached
within S4S,000,00e of the goal set,
thereby showing a decrease in the
annual expenditures of more than
$4,000, ,00o, 900 from 1921. when the ex-
penditures were S5,115,927 ,7S9 He
said that the estimates for the cur
rent year, exclusive of debt payments,
show g. total of S3.062. 277407. an in
crease of more than s2O,00o,00O over
that of the last fiscal year, and s6e,-
900, 900 beyond the objective set at
the beginning of the Budget Bureaus
work by President Harding.