The watchman and southron. (Sumter, S.C.) 1881-1930, July 15, 1922, Page PAGE 6, Image 6
JEWEL BLAMES
LABOR BOARD
AND ROADS
-
>fl e a d of Striking!
Shopmen Replies to j
; President; H?rding'sj
S t r i k e Proclama-1
tion ' !
- !
Chicago. July 13. ? .Railway I
executives, union leaders and mem- j
bers of the railroad labor board j
apparently suspended peace activi-i
ties temporarily today. The gov- !
-ernment is prepared to take action |
'/^o insure a movement of trains,!
and injunctions against strikers j
hare been issued- -in Arkansas and j
Illinois. Small. outbreaks dotted j
the strike map today, >but the situ- j
nation as a -whole wai Quiet.
-?rv
Chicago. July 13.-^-B. M. Jewell, ]
head of the striking nilroad
shopmen, today sent a "telegram to
"President Harding replying to the
president's prccla&fcrathon on the i
strike situation and, opening a new
phase of the grievances of the
striking shopmen^ . The. telegram
which was signed also by the pres-;
Idents of six 'shop crafts, said the j
men walked out because the wages -
fixed by the labor board were in )
violation of the provisions of the j
transportation act; and because of!
violation of the labor board's po- j
sitions by the railroads. ' The strik- j
ers.insisted that interruption of;
commerce or interference with [
mails would be caused by any un
lawful act by shopmen.
START FIGHT
FOR TARIFF
ON COTTON!
Duty of Seveir?eiits a Pound ;
on Egyptian Cotton is j
Adopted
"Washington, July. 12.?Complet- ;
ing consideration of committee j
amendments to . the agricultural i
schedule after two weeks' work,
the senate launched "> today, into
what promises to be. a several
weeks' fight'over tariff dutf.es on ;
textiles?cotton. <wool, linen-and'
silk.. .The cotton schedule was the \
first in order but only one amend.- \
ment was disposed of, this provid
ing for a duty of seven cents, a
pound on Egyptian cotton, design
. .ed' to protect the growers of long
staple cotton in Arizona and South
em California. K
A flood of amendments tc some
sections of this schedule were of
fered by Senator -Smoot. Republi
can, of Utah on behalf of the
finance committee- majority these
. representing the work of the com
mittee in rewriting rates. Senator j
. Smoot explained that the reduc:
tions approximated -.4 per cent on ;
thread and fabrics and'Snuch larg
er decreases in. the duties on ho
siery and gloves; representing a cut
of 50 pr cent, rc* the case of cheap- j
er'grades of gloves.
Under questlouing * from the ;
: j^emjotrr?tic s&e\i Senator Smoot |
said the committee majority also j
would pre pose some reductions on i
woolen goods, but said that these!
could not exceed more than 5 per;
cent. A sharp controversy over:
ti^. woolen schedule is forecast.
T*he;7-cent a pound duty on long J
, staple cotton was approved only
after a long fight and unsuccess- ;
ful efforts by Senators Cameron. ?
Republican, and Ashurst, Demo- j
cratT Arizona, to have this figure
increased first to 15^ cents and j
then to 10 cents. Supporting the
higher rates. Senator Ashurst told |
the senate that while he was'a!
Democrat believing ih. the policy of {'
tariff for revenue. only, he would !
be untrue to his trust if when aj
protective tariff policy was to be j
written into the statute books, he
sat idly by and permitted discrim- i
ination against the interests of his
state. ?
Opposing any rate on the staple, i
Sentaor Stanley, Democrat, Ken-!
tucky. declared that it would be aj
blunder for the government to ad- i
^-ance millions to reclaim the arid :
lands of the Southwest so cotton^
could be produced and then impose j
a tax on all of- the people of the !
country so that, the cotton might!
be grown. Thfe brought a fiery |
reply from Senator Ashurst who j
told of the great consumption of
Eastern-made goods by the people j
in the Southwest to show that re- ,
c?amation of the land had benefited
the whole country..
Attacking the rate with charac-^lB
teristic vigor. Senator Simmons of j
North Carolina, the Democratic ;
leader in the tariff fight, declared
this was a "mere Illustration of
the character of this .bifl."
"Talk about the -s&irp subsidy,"* ;l
he. exclaimed. "This' b^t is reek- i
ing with subsidies? more in the na- j
ture of gratuities than; the ship'
subsidy will be. This is a subsidy '?
to the growers ofJo^.OOO bales of ?
cotton to be paid by the people ofj
the country^nany * times over. In;
the case of the ship subsidy the
government collects the money and j
pays it over to the ship owners :
but in This case the government j
would authorize and empower the \
manufacturers of .cotton goods to !
collect the subsidy from the peo- :
pf?, paying over part of it to the <
cotton growers of Arizona and put
ting the rest in their pcekts."
Washington. July 13.?Orders
may be issued by the war depart- :l
ment sometime today for a move- .
Soest of troops to certain localities ;
where disorders ha ve occitrred in j
connection with the railroad striRe, |
Secretary Week's indicated at one I
o'clock as he left th*' White House
after a conference with the presi
d^nt on the situation.
m* ? ? ???
Tf m?>ney is a fsnrjie. fther*' is a
GERMANY j
MAKES PLEA OF
BANKRUPTCY
Reparations Commis
sion Informed That
No Payments Can
Be Made For Three
Years
Paris. July 12 (By the Associated
Press).?Germany served notice od
the aliied powers through the rep
arations commission today that she
could no longer meet cash obliga
tions of any sort, whether growing
out of the Versailles treaty stipula
tions undertaken by acceptance of
the London ultimatum of May 5,
1921. or arranged by the schedule
of payments drawn up by the
reparations commission on March
,21. 1922.
The depreciation of the. mark on
foreign exchanges is given as the j
reason for the impossibility of j
Germany to pay. and for her re
quest that she be relieved of cash
engagements, including the pay
ment of 32.000.00a gold marks on
Saturday, as well as all subsequent
payments in 1922, 1923 and 1924. '
The German note submitted to
the commission makes no mention
of Germany's intention regarding
cash payments after 1924. but asks
that the negotiations for a foreign
loan , interrupted at Paris last
month, which Germany blames for
the continued fall of the mark, be
resumed at tke earliest possible
date, or a financial, economic and
social catastrophe in Germany is
likely to develop..
The reparations commission will
decide tomorrow whether Germany
must meet the July 15 payments,
but will make no ruling as to a
further moratorium until it receiv
ed the report of the committee on
guarantees now in Berlin.
TREATY WITH
CANADA
' j ?
Old .Agreement May Be Re
vised in Some'Respects
' Washington, July 12.?A pro
posal that the century old agree
men< between the United States
and.Canada rcsgarding the military
and naval defenses to be maintain
ed .on the international border .be
revised in permanent form and in
line with the agreements reached
at the Washington arms limitation >
conference was the chief mission
here today of W. L. McKenzie
King, prime minister of Canada, to
confer with Secretary Hughes. A
new treaty modernizing the Rush- '
Bagot agreement probably will be j
negotiated between the-two coun-j
tries.
The agreement, which the pro- j
posed ne wtreaty would- modern
ize. was . proclaimed by President I
Monroe in 1818 after having been
ratified by the senate. It thus had
all the force of ah international
convention, although not drawn in
the' form of a treaty.
This understanding was negotiat
ed by Charles Bagot, British min
ister io Washington, and Richard j
Rush, acting secretary of state. It j
is in the form of letters exchanged ;
between the negotiators on April |
28 and 29, 1819, and provides!
that:
The naval force to be maintained
shall be confined to the following 1.
vessels on each side:
On Lake Ontario to one .vessel 1
not exceeding 100 tons burden and j
armed with one 18 pound cannon, i
On the upper lakes to two ves
sels not exceeding like burden
each and armed with like force.
On the waters of Lake Cham
plain, to one vessel not exceeding
like burden and armed with like
force.
All other armed vessels on these j
lakes shall be forthwith dismantled.]
and no other vessel of war shall be j
there built or armed.
If ei ther party should be hereaf- ;
ter desirous of annulling this stip- j
ulation and should give notice to;
that effect to the other party, it {
shall cease to be binding after the j
expiration of six months from the;
date of such notice.
The naval force so to be limited
shall be restricted to such service I
?s will, in no respect, interfere j
with the proper duties of the arm
ed vessels of the other party.
The document is held to stand i
as the only forerunner in history]
of the naval limitation agreements)
reached in the recent Washington j
treaty and has stood the test of
years without being challenged.
SPECIAL REPORT
ON BOLL WEEVILS
- j
Department of Agriculture S
Will Give Information inj
August Cotton Statistics
Washington, July 12.?A special
report .by the department of agri
culture as to the damage wrought
In the cotton states by the boll j
weevil will be made under a reso
tution by Senator Smith (Demo-}
erat) of South Carolina, adopted i
today by the senate. The infor- j
mation is to be given in the August j
cotton crop report of the depart- !
ment.
The secretary of agriculture is j
directed under th?* Smith resolu- \
tion to confer with agricultural
commissions, county agents and
others in the cotton belt and ob
tain information regarding the
area of weevil infested fields and j
also estimates of th* money dam
age. The information is to be pub- j
lished in detail by states.
Pew things in the world taste! as j
good as they look, and it may be ?
that this is true of flappers, also, j
m? m> m>
Th** farmer along the lower Mis- j
issippi e:in understand why North
got dnink short rj after the flood. '
MR. WANNAMAKER'S
ANALYSIS OF GOVERN
MENT COTTON REPORT!
* ? - ?' i
i
. (- j
Points Out Important Changes Which Must!
Be Made in Gathering Statistics of Grow
ing Crop.?1922-3 Crop Will Not Go
Over Nine Million Bales
I
<Augusta Chronicle).
Mr. J. Skottowe Wannamaker,
of St. Matthews. S. C.< president of
the American Cotton Association,
was in Augusta recently. Discuss
ing the cotton outlook, he gave an
interesting analysis of the Fed
eral Crop Reporting Bureau re
port and made suggestions of im
portant changes in the bureau's
methods.
"The severe and drastic changes
which have fallen to the lot of the
cotton growers during the past two
years must be more fully recogniz
ed by all agencies issuing crop re
ports," he said. "The cotton in
dustry of the United States is im
periled by the wide infestation of
the boll weevil, and normal farm
Dperations are severely handicapped
by the intense financial depres
sion of. the growers.
"The heavy -infestation of de
structive, insects, the cost of the
purchase and application of insec
ticides, the small use of commer
cial fertilizers in the old cotton
states, and the non-purchase of
young mules throughout the cotton
be?t for the past two years, are all
economic factors which must be
seriously considered in diagnosing
the present cotton situation by gov
ernmental and private statistical
agencies.
"It is admitted by the govern
ment and pr|vat% investigators that
weevil infestation is heavier and
more widespread dver the belt
this season, than one ye'ar ago, while
the had financial condition of the
rarmerg is practically the same.
"On Julv 3. the crop reporting
bureau made the Jtpe condition
figures 71.-2. as . against 69.2 for
the same period one year ago. The
May condition report 'was 69.6 per
cent, which indicates an improve
ment i during the month of June
in the growing csrop of only 1.6 per
cent, or a net loss of 5.7 per cent
less than the general average con
dition for that month. June al
ways shows the maximum condition
of the crop with a gradual loss in
condition during the balance of the
growing season. With a fore
cast of 152.2 pounds of lint cotton
per acre in the June condition re
port of 1921, the actual yield of
the crop for that year was found to
bs only 124.5 pounds of lint per
acre.
"Condition, of the crop now is !
practically the same as one year,
ago, with weevil infestation much
heavier. If the same conditions
prevail for the balance of the sea
son as was the .case in 1921. in
stead of a crop of 11,065.000 bales
as now forecasted by the bureau,
the final yield would not exceed 9.
O?O.000 bales of cotton on the es
timated increase, of the cotton
acreage. There is practically no
hope for a normal yield of cot
ton this year based upon the pres
ent condition of.tfee crop, heavily
infested with weevils and the lim
ited use of commercial fertilizers.
"The heaviest . percentage of
abandoned acreage-, after planting
each season takes places during
the months of May and June. The
abandoned acreage. therefore,
should be ascertained and publish
ed July 1st or not later than Aug
ust 1st each year, to show the
amount of cotton acreage actual
ly in cultivation. To postpone
publishing this important informa
tion until the December revision
of acreage renders its market
value worthless to 'the growers or
any department, of the cotton trade.
The bureau report issued in July
estimates only the increase or de
crease in the area planted to cot
ton, and takes no note of>the per
centage of abandoned area after
planting. The abandoned cotton
acreage since 1915 has each year
approximated 3 1-2 per cent of the
total planted, as shown by the fol
lowing data:
Tear. ?Acreage?
Planted. Abandoned.
1916 . 36.052,000 1.067.000
1917 . 34,925,000 1.084.000
191S._ 37.207,00"<> 1.199.000
1919.35,133.000 1.567.000
1920. 37,043.000 1,165.000
1921 _. 31.678,000 1.169,000
"It is conceded that nearly all
of the abandoned acreage occurs
in May and June, hence to post
pone this information to Decem
ber postpones a most important
feature of the growing crop. The
association has vigorously protest
ed against such postponement and
is urging the support and influ
ence of southern senators and con
gressmen to induce the crop re
portin.?,' bureau to show the percen
tage of abandoned acreage this
season in the August 1st report cov
ering the July condition of the
crop.
"Dr. R H. Coad. chief of the
federal boll weevil laboratory at
Tallulah. La., and leading author
ity on weevil poisons, stales that
the total amount of calcium arsen
ate bought by farmers this season
amounts to about 12,000,000
pounds. Figuring four pounds of
calcium arsenate per acre for*each
application and a minimum of five
applications through the season,
this allows 20 pounds for each acre
treated. l( can be readily seen
that the available supply of cal
cium arsenate this year will only
be sufficient to treat 600,000 acres
of cotton, against more than 34.
OOO.OOO u< rt>s planted, 95 per cent
of the total area under cultivation
being infested with weevils.
"It is conceded by all the gov
ernment experts, after years of
constant experiment*, that the cal
cium arsenate treatment in pow
dered form is the only reliable
specific against the weevils so far
discovered. It is expected that the
demand for calcium arsenate in;
1923 wHl be fully 25,000,000
j pounds. In this connection, it is;
j noted that the pending tariff bill in j
' congress provides'" a J protective
[duty on imported raw arsenic of:
j 25 cents p?r pound, which, added
! to. the increasing demand . in the
j cotton belt, will greatly advance j
j prices to the farmers unless pro- j
I tective cooperation is given by the j
j federal and state governments be- j
?fore another crop is planted,
j "The total amount of calcium j
jarsenate used throughout the en-;
j tire cotton belt this year is not suf- j
} fieient to properly treat one-third I
j of the cotton area planted in!
South Carolina alone. It is quite!
j evident, therefore, that unless the
j weather is dry and hot sunshine
I prevails over the cotton belt dur- j
j ing July and August there is no
possible hope to check the destruc
tive ravages of the weevil.
! "After more than a year of per
jsistent efforts.by the American
i Cotton Association, the outlook is
I now most favorable to secure re- j
j liable data on the stocks and grades j
' of cotton held in storage at stated I
i periods each year,
j "Senator Wm. J.- Harris, of
j Georgia, has introduced a bill in
j the senate authorizing the census
bureau to count the tenderable and
untenderable grades of cotton held
in the United States and to as
certain the same information rela
tive to cotton supplies in foreign
countries through the co-operatfon
of American consuls and other
agencies. This information will
be gathered and published on Sep
tember 1. December, and March
I of each year. Secretary Hoover,
of the department of commerce,
and Director Stewart, of the cen
sus bureau, have given definite ap
I proval to the bill, which will doubt
| less be enacted into law in the
; near future. Cotton growers will'
j be informed each year as to the
j supplies of raw cotton on hand,
j. throughout the world so as-to bet
ter regulate the acreage to be
planted in the spring, and similar
information on September 1 will
determine the best methods of mar
j keting. Furthermore, the cotton
! exchanges will be restricted to the
supplies of tenderable cotton on
futures contracts, instead of count
ing all kinds of cotton in the sup
plies, as' has been the custom here
; tofore.
I "In view of the great uncertainty
I as to the correct cotton acreage
1 planted, due to the many revisions
! of the acreage last year, and "the
wide discrepancy in the July and
December acreage statistics.of 1921,
congress is being urged to appro
priate funds and authorize the cen
sus bureau to take a census of the
i cotton acreage planted in 1.922, and
j to provide for such a census every
(five years hereafter."
ANOTHER
BONUS GRAB
i . - ?
: Washington. July 12.?Repre
j sentative Upshaw of Georgia is
I backing a bill in congress. the
j purpose of which is to extend fin
' ancial aid to relatives of.victims of
j the Knickerbocker Theater disas
i tcr. It will be recalled that Repre
I sentative Upshaw's neice was one
; of the victims and one of the
; heroines of the tragedy.
I With most sincere respect for the
I grief which all who had relatives
I and friends in this surpassing hor
i ror have"* suffered, it seems wise to ?
! point out that there is no more!
j reason for the United States treas- j
i ury to ccme to the relief of the sur- i
j vivors of this* tragedy than to help j
j those who were bereaved in the
j Iroquois Theater disaster in Chi
! eago or ihe General Slocum holo- i
; cause in Xew York. On the the- i
; ory that the United States might!
? have prevented the Knickerbocker j
; disaster by a better, larger or more ]
! adequate building department in !
I the city government of Washing-;
? ton. D. C. the unthinking may find i
! some support for this proposed!
I measure. But why not say that i
the United States should have aj
j theater inspection service which isi
1 nation wide? And even if it had'
i such a service, why consider that ;
; any theater failure calls for gov-1
I ernment funds for survivors? Wei
i have an interstate commerce com-!
! mission with an accident investiga- |
j tion department, but we don't pay;
i damages to relatives of railroad I
I disaster victims. We. have a steam- j
; boat inspection service, but no rel- i
j ative of the General Slocum vie- j
j tims received aid from the treas-i
j ury. j
j The United States is not an in-'
r-.urance company. It pays pensions, j
! rightly, to its own servants: it j
1 aids rightly, its own soldiers and I
sailors: but that it should relieve!
: distress of the relatives of the vie-j
j tims of non-governmental trage-j
j dies is hardly a defendabic pro-]
posal.
i 4t m ~
Oroville. Cal.; July 1*3.?Xumcr-J
I ous strike-breakers and guards
'were injured, several seriously.
I when about 7.". men. speeding into i
j town early today in automobiles,
j charged the Western Pacific round-i
j house here. Th?- attacking party j
Ithen motored away. Four guards..
I who are missing, are believed tOj
; have been kidnapped."
I Nothing agrees with a grouch, J
; not even what he eats.
People not only liv*> in their an- ;
t?-s. but speeders die in them. J
germany
to make plea
for relief;
Representatives Confer With !
Allied Leader Over Finan- j
cial Matter
Pari--, July 10.?The two repse-j
sentatives of the German Govern- j
ment, Dr. Fischer, chairman of the
German War Debts Commission, j
and Herr Schrceder. Under-Secre- j
tary of Finance, during the course
Of a three hours' conference this !
afternoon informed . M. Dubois,
president of the reparations com
mission, that the financial situa
tion of Germany had reached such
a condition that the" cash payments
of the indemnity would soon be
come impossible. i
While the Germans did not for- j
mally request a moratorium, they ?
made it plain to M. Dubois, and |
later to each of the members of j
the commission that Germany felt j
that such relief would be the only i
way out of her difficulties.
M. Dubois and the others of the
commission listened to the German
representatives and asked many J
questions, but reserved their deci- I
sion until a later date, after the |
commission has formally received
Germany's request and given it
full consideration. The commission
will meet tomorrow to discuss the>;
new crisis and it is probable that I
Dr. Fischer will have further in
formal conversations with the
members. Herr Schroeder has
asked Berlin for instructions, and !
may return* to Germany tomor- !
row.
May Request Moratorium.
It is explained that the Ger- i
mans do not seem to know just j
what was wanted, but among the
tentative proposals they had with j
them was one calling for payment j
of the remaining cash installments !
this year by means of a loan, pro-/ J
\ided a moratorium of at least two
years was granted. Without a j
moratorium a loan could not be j
raised, the Germans explained.
?The visit of the German repre
sentatives : of the commission was
described in reparations eircles as
"a breaking of ground," which
might lead to a general considera
tion of the whole reparations
questions, provided the Allied coun- ;
tries are willing to discuss the j
question of Allied debts without
participation of the United States, j
There is a feeling that in view of j
the forthcoming Congressional ;
elections the United States would {
not now participate in any general |
consideration of the Allied debts [
which might have for its purpose j
cancellation of the debts or indefi- J
nite postponement of their repay- j
ment. and some of the experts take
the view that the Allies should go |
ahead without the United States.
a law
i enforcing
governor;
Wilson G. Harvey is Making!
a Record and Winning!
General Commendation
Columbia, July 11.?Governor!
Harvey is being warmly commend- 1
ed by friends throughout the state j
for his firm stand for law enforce- j
ment and the conservative use of}
the governor's pardon power.)
Fresh commendations * are being j
receive! on his statement of Mon
day regarding the handling of \
state constables and the co-oper- j
ation of magistrates in the en- j
forcement of laws.
The governor proposes to use ,
the state constabulary as a i
"floating constabulary." sending
the nine officers to various parts of j
the state at different times, in-1
stead of having them stationed, as
how, in a certain territory, where I
they become known to law violar
tors and where law violators be- j
come expert in the art of dodging !
them.
Regarding: the magistrates, the j
governor points out that these oZ- j
ficiais can do much towards bring- j
ing about an enforcement of laws,!
in co-operating to the fullest .with j
the constables, state and local. He
says he has a high regard j
for the. magistrates, most of!
whom are men of good character. ?
but he has seen cases where the I
fullest co-operation was not ex
excised. For instance, he said, it!
is possible for a constable to go!
to a magistrate's office and secure]
a warrant for the arrest of a man j
who is selling liquor, and before
the constable gets from the mag- j
istrate's office to the place where !
i
he proposes to serve the warrant. |
the law violator has been notified j
and has changed his base and de
stroyed all evidence of guilt.
"If I find any examples where I
magistrates are not affording full \
Cooperation. 1 propose to investi- !
gate them, even to the point of re
yoking commissions, if this be i
necessary." the governor stated j
yesterday.
The governor recently received a j
strong commendation from the ;
mayor of a small town in the low- j
er half of the state, thanking him ]
for his quick action in suppress- I
ing lawlessness in that town. The
governor called in a state con- !
stable and sent him to the little
town, with orders to arrest the j
persons guilty of the law viola- I
tions reported by the mayor of the j
town. The constable went and his
arrival, unannounced, caused con-j
sternation in the town. The law
violators <vere arrested, and the
mayor now writes the governor
that conditions are noticeably im- j
proved as a result of the prompt
action.
The governor says the cost of
the state constabulary and the re j
suits do not check up, and unless
there is improvement, he will pat
all of the constables on the "'float
ing'' schedule.
Satiety and piety have much the
same sound, and that isn't all thev
haw- ui common. ?
WE ARE MARCHI
POVERTY
<Manufacturers Record).
Railroad .traffic, outside of coal,
is steadily increasing. Railroads
are buying rolling . stock more
freely than for some years. The
pig iron market is several dollars
a ton higher than it was a few
months ago. Lumber is advancing
and is in big demand. Construc
tion activities in the building of
dwellings, apartment houses,
schools and churches, hotels and.
office structures, and even in some
eases, industrial plants, have chang
ed wonderfully for the better. From
the stagnation of twelve months
ago there is in these lines of in
dustry unusual activity. Even a
railroad strike would not prove
permanently harmful as it' would
result in an overwhelming defeat
for the striken-.
The advance in the price of farm
?products has lifted a tremendous
load from the agricultural inter
ests of the entire nation.* From the
low prices brought about by de
flation, cotton and; wheat and
corn and other farm products
have advanced more nearly to a
living basis for the'farmer. >
The reduction of interest rates
forced upon the Federal Reserve
Banks by the constant pressure of
the Administration, and the easing
up of credits, ; has -wonderfully
stimulated many lines of work.
Bankers who a year ago were re
fusing to make loans, or if they
made them were . charging high
rates of interest and making the
borrowers in many cases sit on the
"mourner's bench" as though they
were committing a crime in seek
ing to borrow money,\re now seek
ing borrowers. ^
There is no more money in the
country than there was then to
cause this change. .We have a lit
tle .more gold than we neeed, and
all that has brought about this
change is an easing up of credits
and a lowering of the rate of in
terest.
Broadly speaking, there is not/
today any more reason why money
should be easy than there was
twelve months ago, put under the
pressure of the administration,
Secretary Mellon, and Comptroller
Crissinger, the folly and the wick
edness of the deflation campaign
of the Federal Reserve Board has'
been reversed.
* Throughout the l$nd the spirit
of pessimism is being succeeded
by optimism. Everywhere men are
realizing .thata new day has dawn
ed in the management of the Fed
eral Reserve System,. and that
Gbvernor.Harding and his cohorts,
can no longer absolutely dominate
the financial policy of this coun
try. ' This in itself is a blessing of
?ritold value to every ..'interest in
the country, mercantile, manufac
turing and agricultural.
Where a year ago we' were short
of money, (at least the bankers
were so telling the public), we now
find such an apparently unlimited
supply of funds that issues of in
dustrial and railroad and munici-.
pal and foreign bonds are eagerly
grabbed and- almost instantly ab
sorbed out of the market and put
away in strong boxes.
The soutlrfs sperding $100,009,
000 .on - new school buildings, and
$25,000,000^ on chureh 'structures,
and more millions than ever be
fore on other lines of. construe-,
tion work, especially on highways.
And this is only typical ? of .what is
going on in all parts of the land.
Recessions thpre may be from time
to time, but the gradual trend is.
upward and onward.. , i
The mountain climber, scaling;
the 'dizzy heights of some high |
mountain, looking upward to the j
peak feels that he has made no'
advance:' but, when he reaches;
some vantage point and turns
around and . looks to the valley
from which he has climbed he willi
find that he has made great pro; j
gress, and with renewed vigor and
fresh courage will press onward
to the summit.
So the business interests of thei
country, climbing out of the Val-|
ley of Desolation and the Sjloughj
of Despond, looking upward to the
high summit of Abounding Pros
perity from which they were kick
ed by the Federal Reserve Board,
feel that they have not accom
plished much. But if they will
stop for a moment and turn their
eyes' So the long journey which has
been made from the Valley of
Poverty and Desolation they will
realize that they have accomplish
ed wonderful things and like the
mountain climber will catch new
inspiration, new energy, and go for
ward unt'} we reach the summit Of
abounding * prosperity. Then that
superb, all-emoracing prosperity
of 1919 and the early part of 1920
will be more than duplicated, and
every man will find an abund
ance of employment: industry will
be ta.xed to meet the increasing
demand for its xmtput: men will
no longer walk the streets in vain
begging for work and finding it \
not: the cry of the pessimist that
"there is too much businses and
it must be brought back to nor
mal conditions" will no longer be
heard ringing through the land.
as it was during 1920 when the!
Federal Reserve System was guilty 1
of that crime of drastic deflation ;
due to incompetence, and the in-1
ability to measure up to the re-1
sponsibliities and possibilities of j
the hour.
Despite all the croaking to the j
effect that Europe cannot recover j
from the effect of the war. there j
is no question in our mind but
that Europe will rebuild on the
wreck and ruin wrought by the
war a higher civilization and ai
vastly greater business develop- j
ment.
Germany cries that it cannot
pay its reparation biii. but this is
the cry of the cringing coward: a]
bully when successful, a whining
cur when licked. Germany has,(
ample resources with which to
meet its liabilities. If France can]
rebuild its fortunes, how much!
more..easily van uninvaded Ger
many rebuild its commercial and!
industrial interests to the point'
where it can meet every reparation
NG FROM
TO PROSPERITY
i demand. Germany is unwilling to
I tax its people as England and j
j France are doing, but it's industrial i
! interests are humming with activity j
j and making larger profits than ev
er before.
Austria, Poland, Czecho-Slova- j
kia and Italy are all moving for- j
ward to better business and finan- j
cial conditions.
Russia, it is true, is still in the j
j power of its gang of murderers, j
j But the lesson taught.yto the world j
! by Russia's bolshevistic experi- j
j ments will be worth far more than:
I the break down of business and of
j civilization in Russia, has cost the
j world. Men everywhere, in every
country have heard of the unspeak
i able folly and wickedness of bol
shevism. Russia is & rotten corpse
which will stink for generations
to come in the nostrils of all civil
: ization, and other countries will be
[ saved from bolshevism by reason
of the- lesson learned through
. Russia's experience. Thus, even the
collapse of Russia will eventually
bring to the world a profit great
er than its loss. -
Turning from Europe to Asia
[we see conditions presaging a new
birth in China, giving assurance of
a younger and more virile life in
' business than that land,:?which
was old in civilization when Moses
led the Children of Israel out of;
Egypt-,?has ever seen. In South j
America and Africa progress is be- j
j ing^made. *
j In this country, when'measured-i
by quantity, quality and contiguity
and availability of development,
our resources match tfie rest of the
world. Here we have an oppor
tunity for development so vast, so
dazzling, so world embracing m
influence as to stagger the human j
mine. Producing, as we a?re ?doing I
more than'one-half of the coal and j
! the iron and the cotton and oil, 1
[ and many other essential products,
j with nearly one-half jthe railroad
j mileage, with more than one-third
! of the. world's accumulated wealth,
I we have a country of. such bound
j.less resources, such limitless op
j portunities that there is no place
Uh this land for the pessimist.
From the day when Columbus
{-landing in his new-found world
!."blessed the cross and knelt in
prayer" in thanksgiving to God
j for guidaiice across the trackless
J ocean, and prayer to God for the
] future of the country which he had
j found, until this/hour, this nation
j has bj?en led by Divine Providence.
j^As a nation we have sometimes
Jjstumbled, many times blundered,
j and committed wh?8 might 'seem
[unpardonable sins; and yet through
j its' whole history we have been led
t as by a Pillar*, of Fire at night and
a Cloud by day. ' Ail that we have.
. achieved is but the pioneering work
:of opening up a continent of
matchless resources! of laying, the
foundation for the advnacement in
material things, in ethics,, and In
Christianity, which have mightily
* affected the destiny of, the world,
and which will more and more
shape .world affairs.
, Let us then rejoice in the fact
-that busiress is improving, that idle
?hands are finding profitable em
ployment, that poverty, no longer
is to reign with a deathlike pall
over the country, but that pros
perity?which means better home:*,
better living, better food,. better
slothing, more of the comforts.and j
'joys of life to those who have suf- I
fered in times past in poverty?is
now in sight.
Dublin, July 13.-^Michael Col
lins has been appointed comman
der in chief of the Irish national
army, it was officially announced
today. Collins. Richard Mulcahy.l
and Gen. Owen O'Duffy will form
? war council in supreme, charge
of militant' operations throughout
the country.
Physical culture in this country
has progressed to the point where
very few people say "a:halete."
a mt ^
After all, the immodesty of the j
one-piece bathing suit dep?pidsi
largely on the size of the piece.
The favorite summer- resort is j
still the water cooler. r I
CHARLESTON
NAVY YARD TO
BESCRAPPI?
_'_ * j . 'S
Washington. Jury 10.?Acting
Secretary Roosevelt today: signed
an order closing the navy yard at
Charleston, S. C, "as soon as prae*
ticable." While no date is set. it
is expected that the yard will -be
definitely closed by next fall.
Closing of the Charleston navy
yard. Mr. Roosevelt said, was de
cided on as it was considered the
least essential and was dependent
on the state of completion of th^
gunboat Tulsa. As soon ths
Tulsa is far enough along to be
moved to anatfier navy yard for
completion the yard may be clos-?
ed. it was said-.
Approximately 150 vof the cleri
cal and drafting:, force and . i?0
mechanics and laborers will be af
fected when the closing finally oc
curs, it was,added.
MEN STAY
OUT ON STRIKE
? ? r
Florence, July 10.?The ultunatf
of the Atlantic..Coast Line was
totally disregarded by'the 700 shop
men who ?re on 6trike here. Not
one retuerned to work this morning
despite the threatened . loss of se
niority righto and other privilege^'
of service. "Neither the men nor
the local railroad officials would
make a statement today. ' Th^
shopmen's president stated, how+
ever, that reports frQui other <Jo??t,
Li?e.shops -were that,the men had
remained_jDUt. Pickets have been
-established around the shop prem
ises and the ladies* auxiliary to the
Brotherhood of Railway Trainmen
was today serving refreshments to
the' men oh this duty.
? ?? '? , .-?
Senator Smith
WfflTrytoStw
Navy Yard Omer
Washington. Julv 10.??Senator
E. D. Smith, expressed himself as
greatly surprised this evening when
informed^ by The News and Courier,
correspondent of the, issuance of
the order for the closing of th?
Charleston Navy Yard. He ^ said
that Secretary Denby had always
j told rnixn that he knew of no in
tention of this sort and that he, thV
I senator, had been relying upon thie
j assurance.
j The senator said that if there
was an exeess of navy yards, as CqL
Rooseve'Jt is understood tohave d^
clared, it. would, have been tbV
natural vhing to expect the closing
of some of the numerous yards
along the North Atlantic instead
of the only one the United States
1 has South of Hampton Roads.
Senator Smith was much arous*
ed and expressed his intention of
protesting to the Acting Secretary
of the Navy against'the order and
of asking its suspension. The sent
a tor proposes to undertake to get
in touch , with the secretary of the
navy. Denby, by cable, and ask a
suspension of the order if the Act
ing Secretary does not show a dis
position to .reopen the matter. /
DIRECTS VERDICT
FOR YORK WOMAN
York, July 12.?A verdict of
not guilty as to Mrs. Effie Hudgins
was directed by Judge Frank P.>
McGowan at 4 o'clock this after
noon immediately after the state
had closed its'testimony in the. cast,
of Mrs. Hudgins and Albert Zim-i
merman, charged with the murder?
of the former's husband. Pink
Hudgins. on the outskirts of York
on the nigjtt of November 7.
The motion for a directed verdict
of acquittal as to the case against
Mi-s. Hudgins was made by the de
fendant's counsel 'on the ground
that no evidence had been hatro-L.
duced to conrect her with the a!-*
leged crime, and though argued
against by the state's attorney, was
granted, and the verdict read m
court, following which trial of titel
case againsfc Zimmerman .proceed
TOBACCO FARMERS
BANNER WAREHOUSE
(INDEPENDENT)
Now open to receive your Tobacco to
be stored, graded, tied and extend any
accommodations you may want
Several buyers in town who will buy
now if you want to sell.
Yours for service,
BANNER WAREHOUSE
G. E. McDANIEL, Auctioneer..
W. T. HARNSBERGER, Prop.