Show bird 0 of f joy 41 1 14 j r P ff 1 arm 74 1 4 e years there will be a great temptation ho lio v ever Never tor for statesmen to promote projects requiring large financial outlay and lt it should be a duty and a responsibility of our federal reserve doard to see that the welfare of the nation la is safeguarded in flu ancial circles it la is generally onside considered red that the result of the recent elections Is fortunate in that a 1 coalition government necessarily works marks more slowly than a one party government during the war all arties suspended efforts in behalf of airty issues in order that the conflict might be brought to a victorious conclusion that has baa been lone one and deliberation Is no longer under ban the elections will im nave I 1 re no bearing on the peace treaty a as a dvo thirds vote of the senate la Is ro re milred to ratify a treaty of peace nd thu the existing republican minor ty would have exercised eer cleed just as aa urt power as the newly nealy elected senate majority in the matter of voting reconstruction measures ha however a majority only Is 19 necessary projects of the administration after march 1919 will require the s of a republican congress lie he slowing down of governmental rr will act as a safety valve in IP he use of credit during the reconstruction st period government borrowing will still be necea ec sury sHay to carry on an the ne n program while there Is a a dearth of at ships futher loans loana 1 will be required in order to relieve e human sut but ring in europe except for these theae emergency emer goncy purposes a and nd current treasury requirements however government borrowing all should caise aise w 13 |