PRESIDENCY: Mr. Harding's Defeat

Seeking only the nation's welfare, Mr. Harding has suffered defeat at the hands of Congress. Not only that, but the man who was elected President by the largest plurality in history has been reproved by a Congress controlled by his own party.

The Ship Subsidy Bill, never popular, and never made so by the President, was politely strangled to death.

The wisdom of some of the most important of the President's appointments has been questioned. For example, Daugherty, Butler, Reily.

The Bonus ghost is not laid.

Nothing which has recently emanated from the White House which could be called a foreign policy has secured the united support of the President's party.

Today Mr. Harding is prepared to draw a deep breath, for Congressional politics will soon drop over the horizon. After a short holiday in Florida he will gather about him the business men of his cabinet and continue to manage the affairs of the nation, untrammeled until a new Congress rises—from the West.