Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE
MUJIC TIRADE
VOL LXXII. No. 11
Published Every Saturday by Edward Lyman Bill, Inc., at 373 4th Are., New York. March 12, 1921 f
***%£*£
Administration
N March 4 there came officially into being a new national Administration which the vote in the Novem-
ber elections indicated was desired by the majority of the citizens of the country regardless of party
affiliations. There are, of course, those who see in a Republican President and a Republican majority
in Congress the panacea for all the ills from which the nation is suffering just now. There are others,
more conservative and less partisan, who, while not agreeing entirely with this optimistic view, nevertheless do
believe that even should the new Administration not measure up to the highest expectations conditions are likely
to become better, for the reason that a change in Administration, bringing into power men with new ideas and
new methods who will be in control of the Government for the next four years, will go a long way toward
stabilizing the political, economic and industrial affairs of the nation.
The inaugural address of President Harding was naturally expected to indicate in some measure at least
the attitude of the new Administration toward the business interests of the country, and business men have
found much comfort in the statement of the President that the problem of war taxation must be studied care-
fully and seriously with the view of lifting that burden as soon as possible. The constructive attitude of the
new Administration toward business can be gleaned from that portion of the inaugural address wherein Presi-
dent Harding said:
"We contemplate the immediate task of putting our public household in order. We need a rigid and yet
sane economy, combined with fiscal justice, and it must be attended by that individual prudence and thrift which
are so essential at this trying hour and reassuring for the future.
"The business world reflects the disturbance of war's reaction. Herein flows the life blood of material
existence. The economic mechanism is intricate and its parts interdependent, and it has suffered the shocks and
jars incident to abnormal demands, credit inflations and price upheavals. The normal balances have been im-
paired, the channels of distribution have been clogged, the relations of labor and management have been strained.
We must seek the readjustment with care and courage.
"There is no instant step from disorder to order. We must face a condition of grim reality, charge it
off our losses and start afresh. It is the oldest lesson of civilization. I would like Government to do all it
can to mitigate the task. In understanding, in mutuality of interest, in concern for the common good our tasks
will be solved.
"No altered system will work a miracle. Any wild experiment will only add to the confusion. Our best
assurance lies in efficient administration of our proved system.
"Xhe forward course of the business cycle is unmistakable.
Peoples are turning from destruction to
production. Industry has sensed the changed order and our own people are turning to resume their normal
onward way. The call is for productive America to go on. I know that Congress and the Administration will
favor every wise Government policy to aid the resumption and encourage continued progress.
"I speak for administrative efficiency, for lightened tax burdens, for sound commercial practices, for
adequate credit facilities, for sympathetic concern for all agricultural problems, for the omission of unnecessary
interference of Government with business, for an end to Government's experiment in business and for more
efficient business in Government administration."
It is natural to discount somewhat the promises of politicians and Administration officials, but it is cer-
tain that the attitude of our new President is the right one, and if he but maintains that attitude and sees that
it is reflected in the various Governmental activities the business men of the country may be justified in feeling
that the change in the Administration has really been beneficial. Certain it is that the business of the country
never needed Government co-operation more than at the present time.
O