The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1927-11-18
wealth Peril
TO U. S.,FEAR
OF COOLIDGE.
Nation Faces Its Greatest
Test in Prosperity, Says
President.
AGAINST CUT IN TARIFF
Insists Slash in Taxes Must
Be Slow Talks at
Philadelphia.

PHILADELPHIA, Pa, Nov. 49,
The United States is facing the
most severe test in its history-the
test Of prosperity-President Cool
idge warned the Union League Of
Philadelphia in an address here last
night.
1--WE have demonstrated that we
are able to meet adversely and over
come it," he said. 1.-THE test which
now confronts the country is pros
perity. History, is Uttered with
stories of nations destroyed by their
own wealth."
Mr.. Coolidge traced in terms Of
praise the history of the United
States from the time of the Civil
War to the present, attributing its
spectacular success to the Govern
ment's policy of protecting, but not
interfering unduly with industry.
Moderate Tax Slash
The President said any material
reduction In the tariff would result
inevitably in a deflation of agricuI-
tural and industrial values and in
reduction Of wages.
He then launched upon a discus.
sion of current governmental poll
cieS.
Because Of the past insistence
on economy in national expend-
itureS, we are in a position to have
further moderate tax reduction" the
President said. "But let it be re.
membered that tax reduction is Dos
slble solely on account Of economy"
Listing items of national expense
which will make gradual tax reduce
ton necessary, Mr.. Coolidge men,
toned flood control, national high
way construction, waterway projects
In the Mississippi Valley, st. Law
renee River, Columbia Basin and
Colorado River, and more equipment
Tor the navy and the air force.
Bigger Navy; More Planes
ION the sea we shall round out
our navy with more submarines and
more cruisers and private ownership
should provide it with an auxiliary
merchant marine of fast cruiser
boats" he said. ION land we shall
be building up our air forces. espe-
claIly by encouraging commercial
aviation.
The President branded as "a men.
ace to our credit" the $4,000 600. 900
national debt. He called it the
greatest weakness in our line of
national Defense" but reminded his
listeners that one-third of the finan-
clal obligations resulting from the
World War have been settled since.
Mr.. Coolidge praised the charac-
ter OF American people as demon
strated during the World War and
tne years OF financial regeneration.
Wish to Promote Peace
Mr.. Coolidge's address was the
principal feature of ceremonies COM
memorating the anniversary of the
Union Leagues organization shortly
before the Civil War. Philadelphia
was the seat Of the Union. which
later enlisted membership in other
cities.
Turning to foreign aspects Of
american relations, the President
said:
I'VE wish to promote peace. We
hold a great treasure. It must be
protected. ~
Our relationship with the vast
territory between the Rio Grande
ana Cape Horn in commercial way
VIII become more intimate.
Much of that country could be
greatly benefited by lines of avia-
ZION, which we should hasten to as
sist them to open.
"A good system of HIGHWAYS
should join the principal points in
North and South America. WhiIo
Cnelr own governments must neces..
sarily build these, we can assist In
their financing.
Refrain From MeddlIng
40 Inventions have closed up the
intervals between different countries
they have been brought nearer to-
gether, not only physically b1t
econmically and morally. We are
more concerned than ever with orr
foreign affairs.
The wealth Of our people is going
out IN constant stream of record
dimensions for restoration and de-.
Velopment in all parts of the world
I'VE want our moral influence to
be on the side of liberty. of ed,,ca-
ton, OF fair elections, and of hon
est constitutional government.
Where our obligations to our own
nave required it we have extended
cltlzens under international law
our help to those who were attemnt-
ing to secure these results.
But we have refrained from med.
dlesome interference, because wo
recognize not only the right. bI,t
Ine necessity for each people to work
0IlE EhniYs ~~~N