Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-02-04


President Coclidge's theories on economy, which
are in full accord with the traditions Of New England,
are not arousing noticeable enthusiasm outside a few
unprogrestive sections of the country. The fact tha.
the public debt has been reduced approximately So
oooOo0ooo and that federal taxes also have bean re-
cuesd have been advanced as great achievements Of his
sdministrstion.
Reduction of tn. public debt has been in accord
with the program accepted by congress and the treas
ury apartment in 1890, and any credit which may
attach thereto goes to the Presidents predeesssors.
Federal tax reductions have been in accord with the
debt reduction.
Like the old New England farmer who iu.t before
bis demise informed his wife that "the old stocking
il full Of bsnknotes," it is apparently the ambition Of
the president to retire from office with the treasury
showing a very favorable balance. This was exempli-
fled in his message 10 congress IN which he stated
without equivocation that he would oppose improve
nsnt programs requiring federal appropriations, HE
attitude toward proposed river and hsrbor programs
being typical Of his idea Of public economy.
II is tue that the federal treasury report will show
some S. 600 as a result of the presidents attitude
toward river and harbor appropriations. By the direct
loss to agriculture and the industrial interests Of the
United States will be many times that amount. In
other words, 70 make q better showing in the treasury
report upon his retirement the president has delayed
Improvement program OF utmost Importance q the
economic welfare OF the American people. This Is "a
accord with the New England theory that every penny
should be saved, but does not coincide with the gen
orally accepted American idea that progress and pros
perity depend upon investment Of capital, not upon
boarding it.
Fortunately, the successor of President Coolidge has
different views. The presidsnt-sleet is familiar with
the vast resources OF the country; his every uttsranos
during his campaign. as we'll as during the years he
rsrved as secretary Of commerce. would indicate he
believes in development Of these resources as the one
means Of establishing and maintaining national pros
rerity. IL his administration Of bis new duties is n
accord with his record as secretary Of commerce, there
will be none Of the false economy which has marked
national affairs the past six years.
Expansioa Of American industry in recent years has
not been due to aid from the Coolidge administration.
Il has been due to economic conditions in competing
nations; 10 the vision Of American leaders who have
met little encouragement from the Coolidge admins
trstion. They have been handicapped by the pinch
penny policies advocated by President Coolidge, and
their success may be attributed to the efficiency q.
American management and the sggressiveness y
American executives in invading new fields and open
INK new outlets for American products.
The retirement Of President Coolidge doubtless sill
Re followed by closer cooperation between the govern
lows the practices employed during his connection with
resliznnsnt Of nstionsl policies with respect to the
economy program, with the launching Of federal i'm
rrovsnsnt progrsrs which will prove an important
factor in the dsyelcrnent Of N. nation, great re-
sources.