The proposed amendment will place the State and Federal Governments and all political subdivisions on an exact equality, and will correct the growing menace of public borrowing, which if left unchecked may soon threaten the stability of our institutions.
Harding discusses the importance of equality between state and federal governments in addressing public borrowing.
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It is not an unworthy selfishness to seek to save ourselves, when the processes of that salvation are not only not denied to others, but commended to them.
I can not too strongly urge in early completion of this necessary legislation It is needed to stabilize our industry at home; it is essential to make more definite our trade relations abroad.
More, it is vital to the preservation of many of our own industries which contribute so notably to the very lifeblood of our Nation.
We do not seek a selfish aloofness, and we could not profit by it, were it possible.