The Birmingham age-herald., 1919-05-31


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 Mss PAULINE MORGAN
 Mir and Mrs. William Fellowes
 Morgan, of New York, announce the
 engagement of their daughter, Miss
 Pauline Morgan. to Lieutenant
 Cleveland Earl Dodge, |. s. A.. son of Mir. and Mrs. Cleveland H.
 Dodge, also of New York Both the
 Morgan and the Dodge families are
 famous in both the financial and the philanthropic life of New York
 report which told the story of the Victory Loan subscriptions This of itself fur nishes good evidence that the United States is now and is hereafter to be in the condition necessary if the enormous aid which Mir Vanderip thinks he will be called upon to furnish can be given. There was an oversubscription to the Vic tory Loan of almost exactly s750, 900. There were individual subscribers aggre- gating approximately 12,000,o00, and those
 who bought the Victory notes in denomi- nations of less than sl00eo constituted 50 per cent of the total subscriptions. WHAT A BANKER SAID
 A few days before the Victory Loan was opened for subscription one of the leading financial authorities of New York ventured the prediction that the sub scriptions to the loan in the New York federal reserve district would exceed the quota by approximately O0,00O. When the subscription campaign was in pro gress it seemed for a few days as though this prediction could not be justified. In fact some timid minded persons ven- tured to say that the district would fall short of it's quota. But the Secretary or the Treasury, MT. Glass, now announces trat the excess over the quota for the New York federal reserve district was IT ore than si00, ,O00, GOO. Therefore, the pre- diction of this man of finance was reas- ! onably accurate With two exceptions every federal reserve district in the United States oversubscribed Its quota The 2,O000 000- share transaction in the New York securities market in a sinsle oay difl not represent exclusively transactions ertered into by citizens of New York. They reflected securities market move ment throughout the entire country. So also the oversubscription of the Victory 1 Loan represents the entire country. There ! fore, it is assumed that the people or the I United States are now in position anu
  meet the needs of Europe which were so ora rhicallv and impressively described by MT. Vanderlip. WHAT JUDGE GARY SAID There is anotheR point of view whlcn
 when taken. as it was by Judge Gary a | day or two ago will justify the confi- dence that the United States will meet 1 the responsibility and grasp the stupen- deus opportunities to which Mir. Wander l calIed attention to the fact that the peo
 ple of the United States are growing rich | CT and richer and the wealth of the coun- l try is being more and more equitably dis tributed If there were not fairly
 equitable distribution of the wealth and
 especially of the new wealth which mas been created since the European war be- l gan. it would have been impossible to re- port that there were in excess of 30000,0OO l individual subscriptions, some of course duplicates to the five Liberty loans, and that vast numbers of plain people, not
 numbered among the rich. furnished l large part of these subscriptions.
 | If the United States, as Judge Gary
 says. is in possession of wealth which l is certainly equal to one-third of the 1 total wealth 0f all the countries of the world, then we are certainly to be able l fully to meet the demands which will be
 made upon by Europe for assistance. l As Mr. Vanderlp says, we must meet 1 u ese demands if modern civilization is 1 to be saved and Europe IS py ana py 10 become tranquil.
 WHERE SOME OF THE WEALTH IS l Judge Gary estimates that the banks of
 the United States now hold about $l6,- 1 GOO 900 GOO Therefore. it is reasonable to l assume that the banks will be fully pre- l pared to bear their share of the helpfui l burden which is to he placed upon the Ta nnn n ;, tion to the fact that the money in circu-
 lation is about s56 per capital. whereas | in the year 1914 the per canita circulation
 was only s34 All these evidences or great
 wealth and rapidly accumulating wealth make it certain that the call winch MT. VanderliD made in his address upon the 1 United States for he'p can be answered satisfa ctorily and will be answered satis- factorilv if certain contingencies and ob- | staoles are out of the way. We are gong | to increase the wealth of the country in | this year 1919 by the products of the soli and by meat products by as much as s23'-
 GOO, 100000 Therein will be found an emer- gency fund. so to speak, which will serve | to aid Europe.
 l But it is necessary for Congress to take some wise action George w. Perkins l said. in his address which was made inn | mediately after Judge Gary spoke. that | if we are to maintain and increase our l international trade we must ee nerm'f-
 ted by Congress wisely to adopt the prin-
 siple of cooperation. Consress must aid. l so it is said in the immediate settlement | of the railroad problem. Congress should
 cut out certain features in the present | tax law which are causing much irrita-
 tion and not yielding very much revenue 1 to the government.
 | Then there must be voluntary assocla-
 tions which will make it all the more easy and reasonably safe for the American people to invest in the foreign securi- l ties offered here for sale.
 l Mir vanderlp's address is now spoken l Of not so much as a pessimistic state ment as an appeal to the American peo- ple speedily to act in full cooperation,
 for if that be done then Europe can be saved and modern civilization maintained. lHis address is also spoken of as similar | in principle and even in some of its phra ses to the appeals which were made | to the American people to subscribe to the :! arous Libe~tv r.oars and these appeals l were not made in vain.
 To Purify and Enrich the Blood Take GROVES TASTELESS chill l TONIC which is simply IRON and l QUININE suspended in Syrup. So | Pleasant Even Children Like It. You