September 23, 1922





RECORD   .\ND   GUIDE





389







Sanity Before Sentiment

If Grover Cleveland, instead of Warren G. Harding, were
present occupant of the White House, the nation would
have expected from the President just such a vigorous and
convincing message as President Harding sent to Congress
on Tuesday vetoing the bonus bill. It makes no difference
whether a person favors or opposes a bonus to the World
War Veterans—the advocates, as well as the opponents, of
the pending bonus plan must admit the logic of President
Harding's position and the inexorable facts upon which he
bases his veto.

Entirely regardless of the merits or demerits of the bonus
proposition itself, no satisfactory answer can be made to
the President's position that the finances of the Government
make this a most inopportune time for the undertaking. It
will be difficult for any bonus advocate to make convincing
answer to President Harding when he declares:

"The passing problem of the Government is that of
diminishing our burdens rather than adding thereto. It is
the problem of the world. War inflations and war expendi¬
tures have unbalanced budgets and added to indebtedness
until the whole world is staggering under the load. We
have been driving in every direction to curtail our expendi¬
tures and establish economies without impairing the essen¬
tials of governmental activities. It has been a difficult and
unpopular task. It is vastly more applauded to expend
than to deny. After nearly a year and a quarter of in¬
sistence and persuasion with a concerted drive to reduce
Government expenditure in every quarter possible, it would
wipe out everything thus far accomplished to add now this
proposed burden, and it would rend the commitment to
economy and saving so essential to our future welfare.

"The financial problems of the Government are too little
heeded until we are face to face with a great emergency.
The diminishing income of the Government, due to the
receding tides of business and attending incomes, has been
overlooked momentarily, but cannot be long ignored. The
latest budget figures for the current fiscal year show an
estimated deficit of more than $650,000,000 and a further
deficit for the year succeeding, even after counting upon
ali interest collections on foreign indebtedness which the
Government is likely to receive.

"To add to our pledges to pay, except as necessity com¬
pels, must seem no less than governmental folly. Inevitably
it means increased taxation, which Congress was unwilling
to levy for the purposes of this bill, and will turn us from
the course toward economy so essential to promote the
activities which contribute to common welfare."

This war-wrecked world cannot recover, none of the
nations—not even the United States—can recover, unless
every effort is made to curtail public expenditures at the
present time. To pursue any other policy can only result
in bringing the United States dangerously near to the verge
of bankruptcy which already threatens to engulf more than
one of the foreign nations.

It is the part of real statesmanship in this crisis not to be
swayed  by   sentiment,   and   it   is   evident   that   President





Harding's action on the bonus has the approval of thinking
men in all parts of the country, regardless of politics.





Coal Conservation Imperative

Those officials who are working to adjust the distribu¬
tion of coal supplies to household demands and the needs
of commerce have had sufficient time since they have taken
up this arduous task to acquaint themselves with the several
factors entering into the problem. It is noticeable that as
time progresses and they become more familiar with their
duties and responsibilities there is rather an increased in¬
tensity of warning than a diminution of pessimism in their
utterances to the public.

State Fuel Administrator Woodin has issued orders that
no more than a two weeks' supply of anthracite in domestic
sizes shall be delivered to any one consumer, and has out¬
lined regulations for distribution and penalties for infrac¬
tion of these rules. No prices at mines or at tidewater have
been fixed, and dealers are predicting a scramble for the
short supplies likely to arrive at terminals here. Confer¬
ences are being held at Washington between Secretary
Hoover and the representatives of various commercial asso¬
ciations and of the railways, with other governmental chiefs
in attendance, for the purpose of organizing voluntary cam¬
paigns to induce consumers of anthracite and bituminous
coal to reduce their demands to a minimum. Coal adminis¬
trators along the Atlantic Seaboard are meeting rail opera¬
tives in the attempt to work out a just plan for the pro¬
tection of industries in the New England States and in New
York and New Jersey. The miners are returning to work
more slowly than was anticipated, and coal loadings have
not }'et reached the average figures for the five last years.
Railroads are still hampered by a diminished but steadily-
increasing shop force, and by a shortage of cars and
engines for hauling coal. Some passenger trains on the
coal roads have been cut off and the engines and crews
turned over temporarily to the freight departments.

All these facts are symptoms of a disruption of the coal
industry that betokens serious business ahead unless con¬
sumers generally fall in with the official recommendations
for handling the situation and give the administrator and
his aides hearty support. There are one or two encouraging
signs—the announcement of Administrator Woodin that he
believes there will be ample supplies of bituminous coal,
being the one that promises most, and the increased sup¬
plies of British anthracite coming over-seas adding to the
reassurance.

What effect the shortage of anthracite in this city will
have on the rental situation is an interesting question. With
coal high in price and the drastic laws requiring certain
degrees of heat for prescribed hours enforced, landlords
cannot be expected to grant concessions in rentals. The fuel
shortage may offset in large measure the effect of the exten¬
sive building operations since the Tax Exemption Law
went into effect. It is for this reason, as well as to bring
about reassurance on the part of the public generally, that
there should be speedy decision by officials as to what regu-