Reservations that Cox Favors
When discussing with Mr. Cox his attitude on the treaty reservations, he said:
“The captious may pretend that our platform reference to reservations is vague and indefinite. Its meaning, in brief, is that we shall state our interpretation of the covenant as a matter of good faith to our associates and as a precaution against any misunderstanding in the future.”
As to these “interpretations,” Mr. Cox felt that some statement should be made and suggested the following two:
(1) In giving its assent to this treaty the Senate has in mind the fact that the League of Nations, which it embodies, was devised for the sole purpose of maintaining peace and comity among the nations of the earth and preventing the recurrence of such conflicts as that thru which the world has just passed. The coöperation of the United States with the League and its continuance as a member thereof, will naturally depend upon the adherence of the League to that fundamental purpose.
(2) It will, of course, be understood that in carrying out the purpose of the League the Government of the United States must at all times act in strict harmony with the terms and intent of the United States Constitution, which cannot in any way be altered by the treaty-making power.
CHAPTER XI
OTHER FUNDAMENTAL PRINCIPLES
I have always found Mr. Cox very sound on economic problems. His ideas on taxation are not popular with the politicians; but are sound from the economist point of view. He is opposed to the present form of taxation which increases prices and retards development. He believes that present Federal taxes should be repealed and instead constructive laws should be enacted. He believes in taxation which will tend to develop improvements rather than retard them; taxation which will tend to retard consumption rather than increase it; taxation which will result in reducing waste rather than in encouraging it. On the other hand he believes that the Government should do all it can to suppress profiteering, and concerning this he states as follows: