Watauga Democrat. [volume] (Boone, Watauga County, N.C.) 1888-current, 1928-10-04
REPUBLICANS
HEAR = .AZIER

Greensboro Alto, 5 Reviews Re.
cord of Hardr coolidge Admin.
istration and High Tribute
to Herbert yer
Following lie full text of Hon.
C. Clifford Frazier of Greensboro,
delivered before the Republican
convention here Saturday:
When the Republican party came
into power in March, 1921, it was
confronted with a stupendous task.
Due to Democratic mis-management
and to the World war, conditions
were chaotic. In the conduct of
national affairs incredible extrava-
gance had been permitted. The gov
ernment securities were below par,
taxes were burdensome. There was
an army of 100000 wage earners
out of work; agriculture was facing
bankruptcy and business was de-
pressed. Of all the perplexing prob
lens inherited from the Democratic
administration the following were
the most difficult for solution:
1. The financing of the stupen-
dous national debt.
2. The restoration of interna-
tional good will.
8. Relief for the farmer.
4. Protection of labor from for
eign invasion.
Finance
Our public debt had grown from
one billion to twenty-six billion dol
lars. Expenditures for government
operations had become six billion
dollars. The victory notes were
about due in the sum of four billion
dollars and the credit of the govern
ment had become impaired that Lib
erty bonds had deprecated to SAC
on the dollar. By the observance of
rigid economy brought about by
President Coolidge through the ma
tional budget law and the mastery
financial operations managed by
Secretary Mellon the national debt,
amounting to twenty-six and one
half billion dollars in 1919, is now
about eighteen billion dollars, show
ing an annual saving of interest
alone of twenty billion dollars. Nor
was the adjustment of our foreign
loans less remarkable. Furthermore,
taxes were reduced as rapidly as cir
cumstances would permit. In 1922
the tax burden was reduced 1885,.
600; S400,00O,000 more in 1924
an additional 1918, 100000 in 1926
and lastly another $225,000, ,000-o1
a total saving to tax payers of near
ly $2,00O,O00,O00, and by tax ex-
emptions, nearly 100000 citizens
have been relieved of paying any
income tax, (but the taxes in North
Carolina have increased at such g
rate as to almost counteract the re.
ductions made by the national gov
ernment.) The repeal of trarspor-
tation taxes by the United States
government, which are always added
to the price of commodities which
the consumer purchases, saves the
American consumer more than g
million dollars per day.
The problems of industry were
speedily solved with the same abili-
ty SO that we have enjoyed the long
est period of unparalleled prosperity
in our history.
Foreign Affairs
When the Republican party was
restored to power we were the most
hated nation on earth although we
had poured out in the progress OF
the war billions of treasure and al
though our soldiers had bled an.l
died upon the battlefields Of France
we did not nave the good will Of TIE
very nations we had defended
Through the efforts of Charles E.
Hughes and Secretary Kellogg, oul
disturbing foreign relations, both
diplomatic and trade, have been ad-
justed. First, the Washington con.
ference when the tri-partite treaty
was signed to the end that nava
rivalry might be curbed, then the
nine-power treaty which secured foi
China political and territorial integ.
rity, the cancellation of the Anglo
Jap Alliance and rs trade treaties
and finally the greatest of all trea-
ties, the Briand-Kellogg treaty out
lawing war.
Labor
Prior to the world war we had i'm
migration restriction Naws but nc
numerical restriction. TIE year be-
fore the war nearly one million i'm
migrants entered the United States
The war acted as bar for severa
years, but during the year ending
June 80, 1920, 100000 came to the
United States; the following yeal
100000 came in. Emergency legis.
lation was enacted and but for it al
! least two million would have entered
| the following year. By restricting
immigration and by solving the
problem of industry the laborins
man has enjoyed our national pros
perity and today is the high paic