Show S S National Figure d Sma Smoot at Wins Praise I Ir r Splendid War W Work ark I as is Highest Authority on Matters Pertaining Finance Chiefly Because of His Great cat Abili Ability and U Industry k Herald Washington D. D C. C July 12 IO ALLY the most diligent and m unceasing worker on n the rolls c United States Stales Senate Reed Hee Smoot of Utah hag has won an enviable en he forum of national comment discussion and achievement dered nationally as ns the congressional export expert rt in mal matters of govern govern- mcc anee S Senator nn tor Smoot Smooth views views carr carI carry a n corresponding ng w weight ig 1 ton on the theo bp o ny lesser Jesser mn men spoke as ns frequently and as fully as Reed Smoot J in the words oC oC oC-Jolin J Temple Graves Grives editorial j be considered tiresome But when t this powerful I takes lakes the fo floor r armed cap n with facts statistics he ho is recognized as ns n r. foeman worthy of any senators senator's steel suing Mr Graves wrote of Senator Smoot He is never ne idle dle Fat cat nt question in discussion finds him silent nn ancl 3 unheard Tn In th the councils of the Republican party Utah's senior senator is figuring interest and force wie wi wise e in counsel and keen in judgment tr rank ank among the ablest leaders of that organization A frank ding iding partisan he Is s also a n loyal true AI American Among the services he Lc luts hr rendered Senator Smoot looks perhaps with jt st t satisfaction action upon his work iu in securing pensions for the dependents of oi the Grand Army of the Republic He has hns czi U of labor laor and tons of energy and md brain to this cause and the cognizes no greater friend and benefactor ator than thun the senator from Ms ls is serving his t rm in the Senate and holds hold this office ih h 4 1921 a at at len least least t. t Utah is 10 to o cy to lo bo ho represented or of or tho Sonata Senate b by a a. man and diligent ent as moot noot Amon Among senators he lie is tho Encyclopedia of ot the tho thoad of or the nd ad The Watchdog V he ho first of his vast vit l information and antl ih th Lisa of or his unflagging zeal al ward ar economy econom in tho ap- ap or L or public moneys eItl Id In Regard g g 5 tho high rc regard which Is Senator ena tor Smoots Smoot's opinion on to governmental of ot Reviews TIo of or the uc devotes 3 a 11 good deal of or orn n n ft Interview relating i to the pinion of or tho problem faced f ted States Stales in pa paying ing off orr the Tho Tho interview is iR pr prefaced r ced owing comment Though a n I pUblican partisan Sena Senator tori teamed earned a 11 high h in the theby 16 by b- breason reason of or his great reat I I unna unflagging Industry He lie Is seat scat scat for the past sixteen lias has been one p of the most J embers of ot the tho Senates Senate's lend lend- and Is now chairman on public lands bands The TheIn In the Review of or Reviews V that the final aggregate gate States is Lator tor feels that our ourt t somewhere between u und of or 2 21 23 per cent annually and retiring ija ja little less than twenty twenty- and a fund of ot 1 raising alsing a year ear Id extinguish the debt in years He lIe has found he ae higher sinking fund rate ito j to be bo borne without seri- seri with business and I lions ons ns that the 1 per cent rate JHo seems himself Inclined j inking fund or of 1 15 per c cent annually and rc- rc debt in two thirty-two years J. J Debt to 10 U Us Smoots Smoot's ca cac calculations c ap- ap sume that we shall not col- col ur r allies in the great war the they borrowed from us 18 8 now a aggregate no less loss lossI I and form therefore Ird part of or our oUt total debt be paid for Cor advances es s. s most of or which went to tod nd Ic d Frence our present na- na be extinguished UI with with- Hable ble time by a very much mitch i ual sinking fund charge thos ff e suggested b by Sena- Sena opinion in tho United the United to assume that these I rowed owed from us by Great and Italy would be beough beI I ough ugh sU suggestions havo now een mn made e that we wo cancel II Is o of course reflects genes gen gen- es but it shows no ma ma- ture study of f tho the problem In due time doubtless these those obligations will be lifted lift lIlt ed cd so far as the United States treasury la ls concerned by sale to private Invest Invest- oro ore whether here or abroad Existing domestic government debts in England England England Eng Eng- land and France as in the tho United States are aro 01 very cas easy easy- to deal with because thc they merely require equalization tion Uon among citizens through processes of ot taxation These foreign governments governments governments govern govern- ments can then thon float now new loans leans with tho the proceeds of oC which they can can can- col their Indebtedness in lil other coun coun- tries All generous Americans who be- be that tho the French French- and British peoples peoples peo peo- ples pies should not havo to pay for their war supplies purchased in the tho United States will have havo the privilege of oC subscribing subscribing sub sub- scribing to these bonds and presenting them as gifts to the tho European governments gov gov- Doubtless many American will bo be glad to pursue this course It would not possible for members of or Congress to give away what is not their own property But it is wholly I permissible for citizens as individuals at it all times to show the thc reality of or their sympathies b by giving of or their substance On the question of or these obligations President Wilson in his recent message to Congress said that our public indebtedness is not as great creat as It seems because a er very largo large I proportion of or those sums were raised I in order that the they ml might ht be loaned to to tho the governments with which wo we were associated in lii tho the war ar and antl those loans will v. of or course assets not liabilities and will not have havo to be betaken taken taen care caro of ot b by our tax tat The World orM War nr Inflation In the course of or his interview Senator Senator Sen Son ator Smoot gave gayo some interesting figures the tho result o of his Investigations of or tho the general world inflation resulting resulting result result- ing lag from the war upheaval These figUres figures fig fig- ures are arc of or course exceedingly round Ho lie places the money worth of or the worlds world's possessions Just before beCore I the tho war at nt As As compared com com- pared with th this Is Senator Smoot figures out present inflation to the tho amount of 2 Not only is the tho world Immersed in great debts but public debts promise to Increase rather than decrease in the tho coming comins years Ho He believes believes believes be be- that tho the European nations must look tho the facts in the tho taco face recognize that thc they cannot carry so great reat a a. burden and repudiate their domestic Ilic debts or else olse that they must impose such Ruch hea taxes taCe wealth wealth- heavy on as nearly to reach tho the point of or tion The levy on wealth is already under dl discussion In several se countries Chairman of ot Public Senator Smoot serves on several of or orthe the most important committees of or tho the I upper house among them being the I committee on public lands landi o of which hois ho hoIs hoIs Is chairman tho the Senate and Joint committees on printing of or which ho Is la I also chairman and a n. member of the I I 10 u 4 x l 5 tS e Vif Vi- Vi W- W f S 4 i fr I 4 jt j V S i 1 t 4 Y 4 I 7 z e iz i- i 4 F ih M k V N r tr s s s 's w A ct t r 4 I Senator Reed Smoot of Utah I I I I I I I appropriation finance civil service and retrenchment audit and control of or Senate pension rind And expenditures expendi tures in the interior department com corn Ho lIe Is also of or the public buildings commission Few senators havo have hold heM so man many Important im important important Im- Im posts as ao those a to Senator Smoot and antl few tew senators have h l I enjoyed tho candid acknowledgment ent which ho receives from om both sides Bidos o of the house In his position as ns chairman of ot the public lands committee Senator Smoot Is in a n position to servo Utah and other other other oth oth- er western states as they have ha or nover been served before His knowledge concerning the tho distribution of ot public lands of or tho the west Is conceded to bo ho greater than that of ot any other senator zenator sen zen ator atol and his support of or the the Smoot- Smoot Mondell rondell soldier settlement bill now pending before Congress virtually assures assures assures as as- its passage A Authority on Finance Another example of or tho the deference that Is la shown to Senator Smoot In matters of or governmental finance in 11 shown in the thc July Issue of the tho American Economist of or Now New Tor Tork which published the following Commenting on that portion of ot President Wilsons Wilson's latest message to I Congress that deals with the tariff Senator Smoot said there thero was already a law on the statute book fulfilling the vor very purpose tho President had in mind Tho The senator said In part The President finds that In some somo directions there is need for attention to tho the tariff and says sas that amon among tho industries to which special consideration consideration consider consider- should bo given Is that of ot tho manufacture manufacture- o of dyestUffs and related chemicals Now Congress has hag passed the tho I l I President has hex signed and antl there is no now on these theEo statute books a law w for tor this very purpose I cant can't understand In tho circumstances what the President wants done lone Senator Smoot also commented on OD tho the Presidents President's recommendation o ol of early attention to the Ule tariff with pur- pur poso j-poso poso to establish antidumping legis lation That sounds odd said SW Senai tor Smoot In view of or the tho fact tact that when tho the Underwood tariff legislation was in the tho Senate It contained an antidumping provision and his own ow I party s committee on unan cut u It out and antl was sustained b by the Senate Then Ihen Senator Smoot turned to tho Presidents President's observations that least 0 of all should we depart from torn tho policy polley adopted in tho tariff act of oC 1913 of oC permitting tho the free entry of or raw materials ma ma- to supplement and nud enrich enrich enrich en en- rich our own abundant supplies As Aa a n. matter of or fact tact Senator Smoot said the tho Presidents President's own tariff tar tar- iff IC legislation Cir first t inaugurated d tho policy o of imposing duties on man many raw materials coming Into this country and needed b by our industries Now Now w York Daily Dally Record News Schedule Needs Need He Wo We believe that Senator Smoot has shown tho the ab absurdity of or tho Presidents President's claims and tho unsoundness s of ot his position on the tho subject of or piecemeal l revision Wo We do not for tor a moment doubt that the tlc dye and chemical schedule sched sched- ulo ule needs revision The Tho Kitchin 1 amendment to tho the tariff act always was wag an absurdity as wo we havo heretofore heretofore hereto hereto- fore toro had occasion to point out ont It ought to bo be amended but BO so had tho the thorest thorest rest of oC tho the tariff act It Is all wrong so try to correct only one ono part of or It aa 38 B Senator Smoot rightly Indicates havo hMO protection under un Un- n- n tier der tho existing law It lt is s not t ade quate protection out bUt i ur are uio some Industries which have no protection whatever and antl they have claims aa as well as the tho few fc cw Mat Chat are singled lcd out by the President for special favor Cavor Let us bo be If protection io in a a. sound policy In one case calio it Is in fn another I If one industry needs needs' fosterinG fostering fos los so does s another If H tlC aro are to be given protection then Protection protection pro Pro- should be extended to tho tim In Industries industries In- In which use dyestUffs otherwise otherwise other other- wl wise o It is not a deal If It one cla class 5 of or bu business Is to have havo an any favor Cavor shown It then thou wh why not not all nil class classes s which stand in need of ot the Iho same sarno kind of or fa favor Wo Yo speak of or the tariff a as a n favor but It la Is more than that It is a a. ne ne- It is a necessity not only to tho Iho industries which arc directly af- af related Industries but also to to- Further It Is a 0 necessity to tho the whole nation nallon as aJ tho the President t so clearly points out In his message even on though I lie ho does not o hl tho broad view or ortho ortho ortho tho frankness to acknowledge its universal uni uni- versal application Wo We 0 should produce pro Iro dUct duce everything within our borders bordors In time lime ot of which ma may be ho necessary peace n aa as well welt as in iii of oC war var That Thatis I la is tho true preparedness No 0 ono one with ordinary intelligence can fall Call to tu I see CO that we cannot compete on an nn equal footing with n nations in which the wa wage o scale Is materially lower than I our own No one ono with ordinary Intelligence Intel Intel- ll can fail full to see sec that when hon a 11 nation has a huge hugo of oC any commodity corn corn- I with only a limited market marl I Ian an and Is besides In great groat neet need of or read ready I II nation can and willI will I oah cah n h that such I flood loot our markets with Its surplus I merchandise at nt Oven even lower loer cost of ot I p production ro ti LI C I. I I on Tb Their C I fl I t i es drive I Whom No 0 one with ordinary Intelligence Intelli- Intelli gence can fail to un understand that such Nuch n a flooding of oC tho market though it may prove pro a u. temporary benefit to the pui put chasers chasers will prove c in the tue long Jong run ruti a damage Gu to everyone conc concerned ex excepting ox- ox Corch foreigner The Tho do- do I only the tho ncr mastic manufacturer will ho bo ruined 1 If his resources bo Jc limited and antl if It th th-o th j Influx continues long iong enough clI The Tho of or the tho domestic tic manufacturer I out of or employment or er will be he thrown and either cither become objects of ot charity or c o lower the price of ot wages wage if u t I 1110 I ou uc 1 L LILU lac I consumer will eventually suffer stIffer for forthe forthe I the foreign manufacturer or pro producer will o tho the prices as L soon oon as ho lie hasdel has del It ull 11 competition No lot us not discriminate Tho The and anti chemical industries need Protection and should hould and will havo have it but lot all share and share alike Letus Let Letus us have havo a a. consistent tariff act act an honest hon lion est ono one and lot Jot us show no partiality Wo We 0 must have hwe protection but let Jet tho thu tall tail go with tho the hide |