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Show MELLON'S TRIBUTE TO BUSINESS It is when Secretary of the Treasury Mellon discusses finance and business that he is at his best, and for that reason the tribute which he has paid to American business in the course of his radio address to the annual convention of the National Electric Light Association becomes all the more impressive. He discussed plain facts in a calm and comprehensive manner. He says that President Collidge has made it clear that his administration "will not interfere with legitimate business merely because it is big, but desires that business and industry, so far as is possible, shall work out their own problems, provided they conform strictly to the laws." Secretary Mellon calls attention to the fact that our wealth comes from two sources, the first being our immense natural resources re-sources and the second our very efficient industriel organizations Our standard of living is .higher than that of any other country, and we are now the leading industrial nation and the world's greatest creditor. By utilizing labor-saving devices and other inventions and discoveries, we have succeeded in keeping wages and profits at a high level and in "diffusing properity among a larger number of people than has ever been known before." Mr. Mellon says that inventions and discoveries have annihilated time and space, and with the building of the railroads the real settlement of the West began. So it comes about that we, who a century ago were a struggling strug-gling rural people, scattered along the Atlantic Coast and shut off by the mountains from the fertile West, have now become the most properous in the world. Mr. Mellon is modest about his own achievements, but we know what he means when he says that a sound industrial policy must be square with economic laws. "And," he adds, "a consistent policy is necessary in order that capital, labor and the public may know what to expect." All factors know what to expect from tht Collidge administration and it is that sense of security which hat-helped hat-helped to bring about the widespread prosperity among the people It is that which has caused men of all political faiths to pay tribute to the sound sencse of the President and to the sagacity of his Secretary Secre-tary of the Treasury. Philadelphia Inquirer. |