Evening star., 1926-12-12
BY HENRY w. BUM.
IN HE following is brief sum-
mary Of the most important
news Of the world for the
i seven days ending Decem-

news OF the world for the
l. seven days ending Decem-
ber IL:
United States of America.-On De-
cember 6 the Sixty-ninth Congress
convened for the short session.
On the 7th the Presidents message
was read to both Houses. It's chief
declarations and recommendations
may be summarized as follows:
~ 1t is recommended that each
Congress In its opening session make
appropriations to cover two years,
thus saving time for other activities.
(2) Our present state of prosperity
is largely due to the economy pracs-
ticed by the National Government:
to the elimination of many kinds Of
waste, and to a general raising OF
the standards Of efficiency. From the
combination has resulted at once a
reduction in the index price of COM
modities and an increase in the index
rate of wages. Keep it up.
(3) The Congress is advised to
'tavoid at the present session all com.
rnitments except those Of pressing
nature" A Treasury surplus OF $685.
OO0, 900 Is estimated for the end OF the
present fiscal year. Unless otherwise
ordered by the Congress. this surplus
the public debt. Though the President
fayors speedy reduction Of the debt,
he declares himself of opinion that
the country would be benefited should
reductions be allowed in the tax pay
ments. due March Is and June ID
next. to a total within the limit or
the estimated surplus above stated.
The President is. however, opposed to
permanent" tax reduction at TINS
time. as the present revenue act has
not run long enough to JUSTIFY long
calculations based on 1t.
a. The tariff is eulog1zed and
agitation for tariff reduction is
deprecated. "Those," says the Presi-
dent. "who wish to benefit foreign
nroducers are much more likely to
secure that result by continuing the
present enormous pus chasing power
which comes from our prosperity that
has Increased our imports over II per
cent in four years than from any
advantages likely to accrue from
general tariff reduction"
(5) Next to economy. agriculture Is
the subject which chiefly engages the
President. The wide gap that existed
a few wears ago between the index
nr,ce of agricultural products and the
index price of other products has been
gradually closing, though the recent
depression in cotton has somewhat
enlarged 1t.
But though, speaking in the large,
the agricultural Gncluding the live
stock) industry has notably picked up
since the depression of 1921-1922,
some parts thereof, the President ad-
mits. are still tagging behind other In
dustries on postwar recovery. What
further. then, may be done by the
Government toward expediting the re-
covery Of the tagging parts?
The President lists the congressional
measures Of the last five years in
aid of the agricultural interest, includ-
ing in chief:
Establishment Of the intermediate
credit banks for agricultural purposes,
two cooperative marketing acts, en-
largement of the activities of the De-
partment of Agriculture. enlargement
of the scope of loans by the Farm
Loan Board, that part Of the tariff
which applies to agricultural products
and large Federal expenditures In i'm.
provement of waterways and high
| ways.
What more can we do? Already the
! Interstate Commerce Commission is