davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

TIME bell no longer tolls at
Lloyds in London. Its solemn
tone has ceased sounding the
news OF the sinking Of vessels at
sea. Germany's ruthless submarine
war on merchant shipping has
caused the greatest marine insur-
ancc organization In The world to
suspend its time-honorcd custom.
For reasons best known 10 the Brit
ISL naval authorities. the tollinC OF
the bell has been stopped for the
period Of the war. In times like the
present. when the loss Of several
merchant vessels is almost a daily
occurrence, il is conceivable that the
effect OF the bell tolling might be de-
pressing on sentiment. But the fact
that the British Admiralty retains
for itself the task Of announcing
ship losses by weekly statements is
the principal reason why the bell is
silent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Authority Given
Food Controller

On the same date the government an
nounced that food controller would
be appointed under The general powers
conferred upon the Board of Trade by
the defence of the realm act. Under
these new regulations the Board OF
Trade is authorized to make orders "in
the interests of the public and for
maintaining the supply of any article
of commerce." and to achieve this pur-
pose it may:
ID Prevent the waste o. unneces-
Snry destruction of any specified ar
tcle.
~ Restrict and prescribe the use
Of any article.
49, Regulate the manufacture and
production Of articles so that the
public may be supplied with those
articles "in the form most suitable IN
the circumstances"
tD Direct the mode of sale and
distribution OF articles.
80 Regulate "the market opera
tons" in an article with a view to
preventing sn unreasonable imitation
of the price"
80 Prevent the sale OF an article
at price exceeding an amount
named.
% Require the owners Of stocks
of articles to place them at the dis
posal Of the board on terms to be de.
terminei by arbitration in default OF
agreement.
49, Compel detailed return TO be
made % available supplies.
90 Enter premises where articles
arc kept; stored. manufactured or
produced. md examine the stock
and test the accuracy of any return
that may have been made.
Lord Davenport was appointed Food
Controller. At the time of this APP
pointment the price Of food was about
- per cent higher than at the begin
hing Of the war.
The first work undertaken by the
Food Controller was to take a census
OF stocks Of food on hand and 20 csti-
mate he visible supply OF important
corlmoditiee. His FIRST restrictive act
wa directed against the meals served
IN fashionable restaurants in London,
against which there had been criti-
cism IN the House of Commons and
elsewhere. On December 6. 1915. the
Board OF Trade issued. under the de-
fence OF the realm act, regulations
limiting 10 three courses anv meals
served in a public restaurant between
the hours OF and $3.50 p. m. and two
courses for meals served at any other
time.
The power Of the Food Controller sx.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Appeal to Public
To Limit Consumption

The first attempt at rationing was
made on February 5. 1917, when the
Food Controller issued an appeal to
the public TO limit its consumption OF
bread. meat and sugar as follows:
Meat ration Meat includes bacon.
ham, sausages, game, rabbits, poultry
and timed meat. The ration OF two
and one-half pounds per head per
week means uncooked meat as bought
from the butcher and includes bones
and fat.
Meals away from home. House
keepers arc expected to reduce their
household consumption in respect of
members OF their household who take
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
A Factor in
Commercial History

Without Lloyds the British En-
pire and its commercial development
might have had far different his
tory. 1t is customary for an Eng
lish merchant or manufacturer about
to start an enterprise dependent
upon some political or international
action to insure against loss. Gen
eral elections, tariff reforms, war,
peace. a kings death or coronation,
"A new heir To- the throne. new
president of republic, and every
international spoke in the worlds
wheel, may affect somebody's bust
ness. Recently cables from London
said that Lloyds were quoting 40
guineas per cent against peace
declaration by December. This sim.
ply meant that any one paying . pre-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

up food monopoles. Local regula-
ton may be desirable in certain cases
in bringing about greater efficiency
and lower costs in the retail distrl-
button of food, though it is doubtful
if very much can be done even here.
But the effort to control the price re-
ceived by the farmers for wheat or
corn. or prices in the great whole
sale speculative markets (which
would mean the reduction Of prices
paid to the farmers, would inevl-
tably reduce the volume Of farm
products within the next twelve
months. The scattered homesteads
must be dealt with on commercial
basis
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

meals away from home.
Cakes and puddings. The allow
ancc for -four Tor breadmaklng IS eA'
pectcd to include that used for cakes
puddlngs. etc.
Bread.-Il is recognized that some
housewives will not be able TO al
ford to buy the full allowance OF
meat and may consequently be COM
PEELED to exceed the bread allowance
Of four pounds per head per week
In such cases they are expected 70
keen tneir purchases OF bread a.
least one pound per head per wees
below their previous consumption J.,
This rationing is. Of course, puren
voluntary. II Is expected resoiu.s
effort on the part OF each consumer J"
reduce his consumption 70 the figures
mentioned above will automatleaii
bring about a saving of more tnsn !
100000 tons per annum OF bread, m'"'
and sugar.
On February %, 1917, a number o.
the most famous London clubs VoiuH,
tarily instituted one meatless day Ps'
week.
On February 90 the Food Controller
issued an order having for ITS ooleSS..
the further conservation Of wheat, ~
fixed at 81 per cent the minimum ho.'
that should be extracted from whess
and il permitted the miller TO msHs
out the remainder by mixing oths'
cereals.
On March II the Food Controller ~
rived at voluntary agreement VIZ
the importers and distributors OF 'es
by which the retail price was hHeo
Is. I'd. (s053) per pound, when Ns .s
the price then reigning. In orde' ~
insure a reasonable supply OF tea AZ ,ss
low price 30 per cent Of the impViss
from India will be allocated 70 WV
trade by the importers for TINS P''
pose. n.
Arrangements also have been ns'.
with the coffee trade to sell at reIs" :. =
good, sound. pure cofee-who,so 81,
ground at the rate of Is. cd. NsV''''
per pound.
On March p the Food Controller y.
sued very drastic order under tne =.
fence of the realm act dee lanng
be a punishable offence for
chant, in connection with the sals :.
proposed sale OF any article OF 1000, =
impose condition involving the psl,
chase OF any other article. ms 49,. 80
put an end TO the practice OF insssnJ
that something else, Usually tea, snos,-
be purchased before sugar was 'sf
piled.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
HIGH PRICES FOR FOOD
ARR NECESSARY TO KEEP
FARMERS AT THE PLOUGH
Patriotism Alone viii Not Induce the Producer to Cultivate
ands Yielding a Low Retun-Fiigh Wages
an Agricultural Drawback

returns for public purposes. But IL
the problem is to keep the farmer
hard at work producing the bigges,
possible crop during the comma
months. we must make up our mind,
70 higher food prices still. We mus,
nav the farmer enough 10 induce him
TO cultivate land which it wouldn't
ordinarily pay to cultivate, and %
work land already under cultivation
more intensiyely. In either case be
will get a smaller physical yieiG Der
additional unit Of labor and capita,
and he mus, get higher price pe
lushel 10 mako it worth while. Il
.sn't pleasant, but it is fact. Il
would be wiser TO guarantee high
prices by law to the farmer than to
decree by law lower prices. II would
also be we'll if possible for the gov
eminent TO announce the intention Of
diverting part Of the newly organ.
lied army 10 the wheat fields and
other places during the period OF tie
harvest. when the labor scarcity is
greatest.
High food prices are lamentsble.
They Cypress the poor. But We can
not feed the armies and the civilian
population of our allies without re-
ducing our own consumption, with
out tightening our own belts And
the high food prices tend to correct
themselves by giving the greatest
motive to increased food production.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Measures Taken by
Great Britain for
Control Of Food

for government regulation Of food dis
tri5ution that the ministry decided 10
take action. and an order known as the
milling order was issued by the Board
of Trade. fixing according to a certain
schedule the percentages OF -four that
must be extracted from wheat Of
various qualities. The order required
that on and after January !, 1917, only
-four milled in accordance with the
schedule might be used for making
bread or any other article Of food
Flour mills were also required to make
periodical returns of stocks of wheat
received and -four and offais milled. as
well as a statement of all stocks IL
hand on the date the milling order
went into effect November p, 1916.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

MUM of about S225 would receive
$500 insurance 10 provide against
loss by a declaration Of peace. In
the case Of manufacturers Of NUM-
tions about TO make plant extensions
this would be a safeguard in the
event of the plant being rendered
useless after the war.
The association is now made up of
subscribers, who pay guineas a
year and have no voice in It's affairs;
non-underwriting members. who pay
L gulneas a year, and underwent
ing members, who pay $500 and arc
obliged 10 deposit securities Of from
$4,000 10 $4,000.
insurance risks written at Lloyds
on a single vessel and its cargo often
run far into the millions. For eX-
ample, the Titanic was insured for
something over S1O,00O.00O. Now, a
risk OF this size involves sum mat
one underwater at Lloyds could not
very well carry alone, so that several
other underwriters are called in and
the insurance risk is distributed.
The system of insurance requires a
broker to submit his risk, detailing
the ship. captain. cargo and voyage.
Any Of the underwriting members
wishing to take part in the insur-
ance appcnds his initials to The APP
pllcation beneath the amount he ac-
cepts, which varies from 500 to
$500. When the total has been
reached policy is signed by each
participating underwater, who is
thus pledged for his specified amount
in case Of disaster to the ship.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

the United States by the narrow
market for insurance. as war FISK
insurance is only accepted by rev
wealthy firms. and the total amount
at risk could easily be learned.
British underwriters have subsId-
larry salvage associations. some OF
which have wonderful equipment.
One Of the best equipped salvage as
sociations is the Liverpool Salvage
Association. which has recovered Sow
eral wrecks during the war. The
need Of salvage equipment after inc
war can be appreciated when 1t -
realized that over 100000 tons OF
shipping has already been destroyed
as we'll as valuable cargoes. ms
tonnage loss is about equal to Ger
many's merchant feet before the
war.
New systems OF salvage are beng
introduced. The diving bell has oeeh
big aid to salvage companies.
Floating docks at times have been
successful in raising ships. A com
mon way of floating ships is TO have
a number Of submerged lighters at
tached to the wreck by cables. When
all the cables are taut, the lighters
arc simultaneously lightcned by
pumping out the water. As the
lighters become more buoyant, the
wreck is lifted from the scabed, ana
the whole feet can be towed to port.
4 recent invention consists Of a num-
her Of tanks and debated waterproof
bags. which arc placed in the hold
Of a sunken ship. The bags are IN
flated by air pumps. and as their Duik
increases water is displaced from
the wreck. There is general IN
crease in the buoyancy which raises
the wreck. Germany, however, has
the advantage in knowing the exact
location of submarine victims, and
the submarine logs may be used aS
an asset TO reduce the war indemnl-
ties. But it is almost sure that IN
ternational decree will preclude Ter
man salvage associations from gong
after this treasure.
Salvaeing the wreck of the former
French frigate Lutine. which in 1870,
as a converted merchantmen carry
ing a cargo of S7OOO,000 of treas
ure. foundercd in the Zuyder Iec'
provided Lloyds with the old ship
bell that before the war sounded the
tocsin announcing The tragic fact OF
a ship lost at sea. In normal times
the sinking Of ship is the signal tor
the toling of the bell once. There
have been times when a vessel al
ready announced as lost has later ar
rived safely in port, and on these oc-
casions the bell has been struck
twice.
Although the Lutine bell now is
silent, Lloyds still keeps the loss
book" in which is written the Est of
the casualties at sea. Many pages
have been filled since the war began
TO register the records Of German
submarine savagery.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

tended to the production Of food. AT
this iuncture r. +. Prothero. the Presi-
dent of the Board OF Agriculture, came
forward with comprehensive farming
plans TO increase the home production
of food. Under the defence of the
realm act the Board Of Agriculture OBJ
tanned power to enter upon any ldle
land and cultivate 1t, with or without
the owners consent. The first thing
the Board Of Agriculture did was to
commence survey or census OF all the
IDLE land in the kingdom. To the local
governing bodies have been delegated
powers 20 surrey any Idle and and TO
itauire its cultivation in such a man
rer as best TO conserve the nations IN
tcrcsts. Prices were also fixed at
which the government would buy the
farmers produce. Of the 27,00O,OOO
acres of agriculture land in England
and Wales more than 100000 IS
given over to grazing. while less than
one-ffth is used for raising cereal
crops. The Board of Agriculture has
determined that as much of this graz
ing land as 10 available shall be
ploughed up and planted in grain crops.
Naturally, the question of labor - a
serious element in increasing home pro
ductlOn OF 1000, LOT lne men mus
capable Of doing such work are nearly
ali in the army. In addition to per-
haps 100 600 women who src now work
ing on the land. German prisoners Of
war and interned aliens have been put
to work cIltivating the soil. and some
$4,000 skilled ploughmen have been
brought back from the front and loaned
temporarily 10 the Board Of Agricult-
urc Through the Ministry of NUM-
tions the Board OF Agriculture mas
power to obtain motor ploughs and
tractors and other farming machinery.
Il is reported that a good deal Of
floughing is being done by night.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Farmers Handicapped
By High Wages

Even if the farmer were disposed
to produce without gain for patriotic
motives he could not do so in ade-
Guate volume because he could not
pay wages high enough TO attract
the necessary labor from other high
" paid occupations. Tho socialistic
organization of agriculture under
governmental direction could not he
effectively worked out in years.
Even Germany has found it impos-
siblc to do much along this line. No
doubt farmers are in many cases get
ting large returns. No doubt It
would be well if we could tap these
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
boarding Made a
Penal Offence

On January l., 1917, further restric-
lions were placed on the milling OF
wheat -four. Mills which up TO that
time were extracting from wheat a
percentage Of -four averaging rs per
cent were obliged to add further per-
eentsge Of not less than 3 per cent.
II they could not get that additional
. por cent from the flour they we're
obliged TO mir the wheat -four with
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Marine Intelligence


As the possibilities of a bureau Of
information on matters pertaining
to shipping developed, Lloyd started
a newspaper, which gave a list Of
ships whose sailings had been re
ported. This was the beginning Of
the great intelligence department Of
the modern Lloyds. At every port
in the world is Lloyds agent, who
cables details Of every ship clearing
or entering. and innumerable signal
stations cable the sighting OF ship
to London headquarters. Lloyds as
ISOLATION has a news gathering or
ganization second to none. although
it spccializes on marine affairs. The
classification Of ships is according
to construction and equipment, the
highest being the Al classification,
which entities a ship to favorable
insurance terms.
The newspaper, called "Lloyds
List" had not been running long
when the owner in an article criti-
cised the action of the House of
Lords with regard to silks. Lloyd
was censured and his newspaper sup
pressed, and it was not until thirty
years later that he was allowed to re
establish it. Since that date, 1926,
"Lloyds List has appeared regu-
larly, and is still published as a daily
shipping and commercial newspaper
at Lloyds, Royal Exchange, London.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

merchants. Britons have conducted
marine insurance in England. Pre-
served at Lloyds to this day is pol
icy Of marine insurance dated Jan
uary 20. 1850. upon the good ship
Golden Fleece. Of $50 tons burden,
for a voyage from Lisbon to Venice.
at the rate Of pounds sterling per
cont
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

War Risk
Insurance
Since 1914 marine insurance has
become of general public interest.
Before the war marine insurance was
effected at a very low premium, pro-
viding against fire, wreck, collision
or any ordinary peril Of the sea; but
on the outbreak Of war underwriters
established special war risk in
surance, providing against loss to
ships or cargo by any act Of war or
as consequence Of war conditions.
This war risk insurance has been
sensitive barometer. When reports
appeared Of naval engagements.
raiders or submarine activity or
other soaring news, marine under
writer's appraised the importance Of
the reports and estimated the pos
sible effects. The value Of marine
excitement was reflected in the
quoted rates, the fluctuation in pre-
miums being watched by many peo-
pie not directly connected with com
merce.
AS an example of insurance esti-
mates, the following instances may
be given: A few days ago the United
States destroyer Smith reported a
submarine attack. Underwriters sat
tight and rates made no move. This
did not indicate a disbelief in the
report, but simply that the sinking
of a boat would have been stronger
evidence of submarines. In theory,
the submarine attack should have
been an indication of the presence
Of submarines-but underwriters
are somewhat "Missourian." At the
beginning Of the war insurance could
not be placed below $40 on the 500,
but after a few months the transat-
lantic rates went down to three
fourths per cent. With fractional
variation they remained at this rate
until the Lusitania outrage, when
they jumped to 5 per cent. After
loo LcJ ham roco,,o,oJ o,I tho
situation settled rates receded, and
were at fractional premiums until
the Moewe sent them up to / 4 per
cent. In April, 1916, the submarine
campaign became mos vicious and
rates increased to pa per cent, and
IS a result of the great North Sea
battle 3 per cent was reached. The
menace to shipping from this attack
or British naval prestige was APP
praised by insurance men by an in
crease Of three-fourths per cent.
Premiums again dropped to p per
cent until the submarine appeared
of Nantucket. Since then they have
risen, with a sudden jump on the
report of South American raiders,
until 10 TO ~ per cent are the quota
tons for English cargoes. On this
basis il is shown that submarines
are less than 10 PER cent efficient.
Spectators watch insurance rates,
as insurance increases spell lower
earnings. Bankers are directly in
terested in shipments upon which
they have loaned money and which
they insist shall be covered by war
risk policies. Ship owners see them
selves adding 10 per cent of the
value Of the ship to each voyage, al
though they take this into account
when making freight rates. German
agents solaced themselves by the re-
Election that submarine pirates were
forcing the Allies to pay at least 10
per cent more for supplies. This was
poor consolation, as the Allies do
not pause to consider price as long
ss they Get tho supplies. and every
lost shipment is duplicated.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Written for Columbia War Papers
Il, Il. NJ. ANDERSON. JR.

By II. Vi. ANDERSON, Jh.
4 ssistont PROFESSOR Of Economics an
HARVARD University
THERE are two main ways OF
guiding the employment OF
labor and capital in produc-
ton. One is by a socialistic organl-
cation under which the government
directs or commands the production
Of this or that, with the labor force
like an army. The other
method is to leave labor and capital
free TO 90 where it can make the
highest profits or the highest wages.
Under this system production is gov
erncd by prices. Rising prices in a
given line lead TO expansion in that
line and draw labor and capital
away from lines Of production whore
prices are stationary or arc falling.
This last system is, of course, the
system on which industry is organ
lied in the United States to-day. The
only way under our system by which
We can increase production in any
given line is to offer higher prices
for the product.
This means very definitely that it
would be folly to try to cut food
prices by law at the present time if
we wish farmers to produce more in
the next twelve months. Govern
mental activity can, of course, break
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06

This picture streak of lightning shows however the lightning
like Elm The
monthly low Of No hard wheat in the New YORK
January From less than dollar buhe before the and
mounted swiftly
il iswel above the So mark.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-06
Enormous Business
In Marine Insurance

Few Americans who have heard Of
lloyds Of London have any idea Of
the immense scope Of this famous
association. IL is the worlds chief
market for maritime insurance. All
over the world shipping pays its
tribute TO Lloyds for the insurance
of bottoms and cargoes. Shipping in
terests pay the premiums-stiff ones
in times like these-and Lloyds takes
the risk and pays the loss on vessel
and cargo if the ship is lost Bill
ions Of dollars worth Of insurance
risks on the worlds merchant ma
rine have been written by the mem
bers of the LlOyds association. The
premiums collected have also reached
figures that stagger the imagination.
But this is not all that Lloyds
does. 1t goes much further and ac-
cepts risks, fixing its own price, of
course, on anything and everything
excepting death. Il will insure you
against earthquakes, twins. triplets,
rain or snow. bad crops, drouth, war,
riot. SmallpoX-in fact, almost any
thing the human mind can conceive
of in the way Of risks. When the
famous Jeffries-Johnson fight was
arranged at Reno, New, several
years ago, none other than Lloyds
was called upon to insure the world
championship battle against rain, for
the fight was staged in the open air
&and Indictment weather was a matter
Of great financial concern to the
managers. The London insurance
association issued a large policy COW
ering the rain risk, and collected a
large premium, and there was no
rain. And so it goes. This willing
ness Of Lloyds to chance any risk
whatsoever has given the association
the name of gambler on gigantic
scale. And it really is that in some
respects, although it might be called
constructive gambling" if there is
such thing, for it is legitimate, and
insures the business man, the ship
per or whoever it may be with
safe hedge against the acts Of man
or Providence.