Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-10-12
scribsd as administration accomplish

scribed as administration accomplish
meflts,
Mellon said that taxes had been re-
moved from 2,503000 citizens. with
total reductions of $1,000 000, 600, or
$5,00O.000 day; that great reductions
had been made In Government ex-
pcirditures: that the public debt had
been reduced over soon. 600, oG9 and
that the 81 900, 100000 of foreign debts
had been settled.
Credit for Farmers.
Another important policy of the ad-
n1lnistration has been to provide AIDE
quate credit for agriculture" ne added.
Through the War Finance Corpora
ton, the intermediate credit banks and
the banks of the farm loan system,
ample credit has been provided on easy
terms at low interest rates. This is one
IF the vital clements in the farm prob
lem and places at the farmers dis
posal adequate banking facilities. 1t
does not, of course, solve those other
problems of organization. distribution
and disposal Of surplus. which are re-
suonsible for SO many of the farmers
present troubles These problems must
and will be solved in other ways
There are three other things which
should be mentioned in connection with
the Governments financial policies.
The war claims against Germany and
Austria have been settled in a way
satisfactory to those nations, as we'll as
to ourselves; the loans made to our
railroads during the war have been
nearly all repaid, and the charters of
the Federal Reserve Banks have been
renewed. thus insuring a continuation of
the banking system under which VIC
were able to finance the war and to
pass safely through the reconstruction
period.
Il would like to make 1t clear that
in the renewal of the charters of the
Federal Reserve Banks the admins
tration had the cooperation and sup
port of Democrats as we'll as Republic
ans IN Congress.
Such is the record of the admins
tretion as regards its financial policies.
1t is constructive record and one that
speaks fer itself And yet Gov. Smith
and other Democratic speakers not only
seek to withhold credit from the Cool
idge administration for it's undisputed
achievements, such as reducing debts
taxes and expenditures, but apparently
do not approve that record. They are
careful not to specify in what respect
they would change it. bit content them
selves with the charge fiat nearly eight
years of good Governm mt and mount
ing prosperity do not, in their opinion
constitute a record Of ! constructive
achievement
Record Is Constructive.
Il submit that it is construt tive rec
ord In the best sense of the wo d..
Success was not achieved N this
instance without a fight. TAX, thu
question of reduction of taxes am re-
form OF the tax system, or reduction OF
the. public debt or the settlement OF
the foreign debts. All of these ncA--
ures helped in building up that feeling
OF confidence which has been no small
factor in promoting prosperity during
the last three or four years. Looking
at them in retrospect. each one of these
steps would seem not only simple and
logical but inevitable, and yet the adj
minlstration was opposed at each step
OF the way in trying to carry out these
policies.
The Republican party has given a
notable instance of platform promises
which have been carried cue Und~f
the leadership of President Coolidge, it
has proved itself a party Of construc-
tive ability. In Mr.. Hoover it offers to
the country an able and experienced
leader, who viii carry on the work of
the present administration.
After a long and successful bust
ness career, h. has held many public
and official positions of the greatest re-
spoi1sibility. He has proved himself q
great organizer. far-secing and re-
sourcefn executive, and has discharged
every duty in Way to merit thu high
est praise and admiration.
BASED on nearly eight years Of close
association with him. am convinced
that he will give the Nation a sound
and successful administration Of the
Government, and that he is supre1nely