AMERICAN CONGRESS.

Waikato Times, Volume 106, Issue 17885, 4 December 1929, Page 5

AMERICAN CONGRESS.

PRESIDENT’S SPEECH. WORLD PEACE STRENGTHENED. PROSPECTS NEVER BRIGHTER. United Press Assn.—Elec. Tel. —Copyright WASHINGTON, Dec. 3. The President, Mr Hoover, in his annual address to Congress, said the foundations for future peace were being substantially strengthened through the Kellogg-Briand Pact. Referring to the Permanent Court of International Justice, he said: “I believe it will be clear to everyone that' no controversy or question in which this country has or claims an interest can be adjudicated by the World Court without our consent at the time this question arises. “Our adherence to the International Court is, as It is now constituted, not the slightest step toward our entry into the League of Nations. I shall direct that our signature be affixed to the protocol of adherence. “We have joined the conference for the further limitation and reduction of naval arms. We hold high hopes that success may attend this effort. “I recommend Congress to give earnest consideration to the possibilities .of prudent action which may give relief from our continuously mounting military expenditure. We have undertaken never to use war as an instrument of national policy. We have therefore undertaken to use these equipments solely for defensive purposes. “From the defence point -of view our forces should be proportioned to this national need, and should therefore to some extent be modified by the prospecls of peace, which were never brighter than they are to-day.” Commenting on the national Budget the President said: “The total appropriations recommended for the fiscal year 1931 are £766,089,046, compared with £795,228,330 for tile present fiscal year.” Mr Hoover commented, on the large degree of prosperity that the country was enjoying, ancl on the wave of uncontrolled speculation, which resulted in the diversion of capital from business to the stock market, with the inevitable crash

Mr Hoover pointed out that the capital hitherto absorbed by speculation was now returning to normal channels, and through the measures already undcrlakcn they had re-es-tablished confidence. Wages should remain stable. The President advocated important administrative changes, to assure the better enforcement of the 18th (liquor prohibition) amendment to the Constitution. He indicated that an attempt would also be made to control more effectively organised crime.