Evening star., 1928-12-09

of the most important news OF
the world for the seven days
ended December 8:
United States Of America.-The short
or lame duck" session of the Seven
tieth Congress opened on December 5.
The Senate at once set to work on the
Colorado River dam bill, and the House
on appropriation measures. 1t Is to be
presumed that, the Colorado River dam
business disposed of, either the cruiser
bill (passed by the House in the last
SESSION. or the Kellogg pact will next en-
gage the Senate. Presumably the House
will take action on the Fem reappor-
tionment bill 1t is strange and in
finitely discouraging that so little pub
lie resentment has been aroused by the
delay IN reapportionment. Definitive
action on the national origin basis OF
quotas (shall it be the 1890 census, or
what?) is called for.
The present indication IS that there
will be no farm relief or tariff legisla-
ton in this session. Hearings, however,
on the fifteenth schedule of the tariff
law have been appointed by the ways
and means committee of the House
over the period January to February
25.
The following is brief summary of
what appears to me the most import
ant features of the Presidents message
to Congress:
1. Attention is invited to the four
great tax reductions of recent years,
which stimulated business and increased
| taxable incomes and profits, with result
of sizable surplus and despite that the
national debt was meantime reduced
by one-third But the latest tax reduc-
| tions shaved close, so that last June
there was a threat OF deficit of $94,-
| 100000 for the current fiscal year
Thanks, however, to constructive econ
omy and good times, surplus of $37,-
| 900 900 is now indicated. AS this repre-
sents a margin Of less than l per cent
| on expenditures, lit Is necessary during
| the present session to refrain from new
appropriations for immediate outlay,
or, If such are absolutely required, to
provide for them by new revenue, other
wise we shall reach the end of the
wear with the unthinkable result of an
unbalanced budget. For the first time
during my term Of Office we face that
contingency. am certain that the
Congress would not pass, and l should
not feel warranted in approving, legis
| lation which would involve us in that
financial disgrace" The quoted passage
might seem to be of peculiar signifi-
| canoe WIN T6IeTeICe 10 CRUISER anu
farm relief legislation.
Q. The national income Is estimated
to exceed $90,000,000.
| 3. The Congress Is urged to grant
generous debt terms to Austria and
| Greece. The rehabilitation of these
countries waits upon such terms.
4. The Senate is urged to pass the
bill providing for IS cruisers and one air.
plane carrier passed by the House in
the last session, but with elimination
of the time clause. The injunction to
eliminate the time clause should, take
it, be considered in connection with
the passage quoted above. (The bill
as passed by the House provides for
laying down five cruisers year, COM
mencing with 1929
"We have no intention of competing
with any other country. This building
program is for necessary requirements
and to meet our needs for defense" Z"
This way of putting the matter will
go some way toward offSetting certain
inferenceS widely drawn from the
Presidents Armistice day speech. To
me, "Our needs of defense" is, however,
sufficiently Sweeping phrase.
5. The President restates his well
known views as to the amount and kind
of aid which the Government should
afford the farmer. AS usual. he stresses
development of the cooperative move
ment as presenting the best promise
Of permanent improvement Of the FARM