davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
Would Save Much Gold.

The restrictions should also be eu
tended to this country. Total prohibi.
ton would result in q saving of about
100 million dollars annually-in ter
years, one billion dollars potentis
ality that cannot be ignored. The re.
Operative power Of nations fs greats
er than Is generally supposed, and
there is not a country in Europe thai
will not come into its own some day
even without help. but II we let the
opportunity slip by. 1t will be q source
OF everlasting regret for years ID
come. 1 might almost say that IL will
be calamity to a great many lines OF
production in the United States; con.
seQuently. we should, from selfish
motives, IL from no other. put oui
shoulders to the wheel and make Eu.
ropes distress our own. The old say.
ing that one mans loss is another
mans gain does not always work out
In the present case ii works in an in,
verse ratio, and should read: Europei
misery will surely spread to our OWE
shores and we may be smothered with
our own riches. Remember the fate OF
old King Midas.
There is also another serious point
that we must consider, and must re.
gard it from an economic point OF
view. This is absolutely a material
matter that the exigencies of the
times call for consideration and senti-
mentalism has no place or right to in
trude.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26

"hoie Is quiet and receipts of ton
grace cattle light. Owing to weather
conditions the shipment of dressed
hogs in any quantity is not advisahIs
the season not having opened right as
yet.
The butter market is firm with an
upward tendency. Receipts of choice
chestnuts are running light, az the
season is fast drawing to a close
with prices ranging from to -
cents a pound and $3.50 to 1920 DER
bushel. pei
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
TOBACCO MARKET.

BALTIMORE. October 25.-Inspec-
tons this week showed a slight in
crease in tobacco receipts over last
week. being 953 hogsheads. with a
total of 1,0S2 reported sold. Prices for
Maryland tobacco. per 100 pounds
Inferior and frosted, 7.00a12.00; sound
common. 20.00a25.00; good common,
26.00a30.00; medium, 31.OOa35.0O; good
5000: seconds, common to medium
1S.00a27.00; do, good to fine, 2800a
1000; bay tobacco (fire-cured), 15.00a
10000 upper county (air-cured), 1900
a41.00; ground leaves, nominal
Stock in warehouses today-Mary-
land. 22.144 hogsheads: Ohio, $3.50
hogsheads. making total Of 1854
hogsheads.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
GERMAN.RUSSIAN TRADE
AGREEMENT PREDICTED

BERLIN. October 20 (by the Asso.
ciated Press).-The vossische Zei-
tung learns from reliable sources that
a trade agreement will probably be
reached soon between Germany and
Russia Since the German-Polish
economic agreement has been signed,
says the newspaper. 1t Is probable an
equally eQuable trade agreement will
be reached shortly with Russia and
special arrangements made whereby
Germany's prospective trade with
Russia Will be made possible.
The Polish-0erman economic agree
mont, announcement Of the signing
Of which was made Friday, provides
for the exchange between Germany
and Poland Of coal. oil. Ipotatoes and
other commodities.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26

Logan & Bryan-The Washington sit
uation speaks for itself. I advise you to
get all long accounts well margined.
Extreme caution on the long side. espe-
cially irdustrials. is still in order.
G. w. Summers-Labor unrest is daily
becoming less a market factor. Its bad
effect has been to a great extent dis
counted. The short interest in steel il
again Of large proportions. Buy steels.
sugars and Air Brake.
Moler-The impression Is gaining
ground in financial circles that labor
leaders, fearing that they have lost some
ground, are going to try to make one
big strike demonstration and call out
in sympathy with the coal miners all
organized labor.
Southern Pacific is reported under &C
emulation by important and influential
interests.
Transcontfnental Oil and Zinc Consol-
idated are being recommended by well
informed interests on market setbacks
as 4 purchase.
The steel market Is so big and broad
1t Is still impossible to forecast the
course Of prices for the general list for
the Immediate future. There are toe
many uncertainties in the general situa-
ton for any one to do so with assur-
ance.
Notes.-The news Of the soft coal
strike situation is serious and the only
hope seems to be in the fact that the
sentiment Of the nation is overwhelm-
ingly against radicalism.
Southern Pacific looks good on any
reaction It Is worth near the current
price il it shall lose the oil case. II 1t
Should win. it should rise fifty points.
Coppers are very low. There is big
accumulation Of metal unsold-probably
over a normal years production.
w. J. Wollman & Co.-The spirit of
conservatism, which must always be
a part of good business judgment.
would suggest that some advances
have been too rapid: that stocks
whose real value has been too little
investigated have been brought too
prominently to the attention OF tne
hubble This seems to be a time when
it is the part Of wisdom to shift hold
inps to the class of securities which
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
NEW YORK BANK STATEMENT,

NEW YORK, October 25.-The &C.
tual condition of clearing house banks
and trust companies for the week
shows that they hold $33,ss5,4a0 re.
serve in excess Of legal requirements
This Is a decrease of ST., 603,51O from
last week. The statement follows:
Actual conditions:
Loans. discounts. etc, $3.50, 277, 900
decrease, $40,1S0,00o.
Cash in own vaults. members
federal reserve banks, $99.849, 900; in.
crease, $4.57S,000.
Reserve in Federal Reserve Bank
of member banks, $571,510,000: de-
crease. $14,244,000.
Reserve in own vaults, state banks
and trust companies, $11.0eS,000 de-
crease, $1s4,00O.
Reserve in depositaries, state banks
and trust companies. $12,015,O00; in
crease, $161. 900.
+ Net demand deposits. $4.214. 72s, 900;
increase, $2.456.00o.
United States deposits deducted.
$253.o22.00
Time deposits. s275.452. 900: increase.
100000.
Circulation. ss2s.2s1, 900; increase.
$634.000.
Aggregate reserve. 1894, $4,000.
Excess reserve. $33.995. 430; decrease,
$14.603.510.
Summary of state banks and trust
companies in Greater New York, not
included in clearing house statement:
Loans. discounts, ETC., $S03,I47,60O
increase. $2S6.s00.
Gold. $s.274,0o0: decrease. s2o.5oo
Currency and bank notes, $780,
300: increase, $4,000.
Deposits with Federal Reserve
Bank, New York. $70,030, 400; decrease,
$4.600.1O0.
Total deposits. ss52.es12oo; de-
crease, $5,629,50O.
Do: Eliminating amounts due from
reserve depositaries and other banks
and trust companies in New York
city and United States deposits,
s7Ss,617.So0: decrease. s2.903100.
Banks-Cash in vault, $23,314,7Oo.
Trust companies-Cash in vault.
S74,111 900.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
VITAL FACTORS SEEN IN
WORLDS TRADE OF TODAY
Master of Foreign Exchange Discusses
Various Phases of European Situation.
America Fortunate Nation.

your future operations, 50 that what
ever you undertake will have tn,
same results. The payment of tn,
French indemnity to Germany in 1877
in the history of finance. but the no
tation of $4,000. 100000 in nbert.
loans Is an achievement that you car
well be proud of.
The effect of an adverse rate OF en-
change is a deadening one. as 1t lay
too great a burden upon the purchas
Of commodities.
France today is trading with Ger
many to a very large extent because
1t is profitable to do so. The Germai
rate IL far below that of France. con
sequently whatever France buys il
the German market 1t gets just tina
much cheaper. The month OF Sep
TENDER gave France an adverse bal
ance Of trade Of about $500, 000, 600
and I am reliably informed that full
so per cent Of this 10 owing to Ger
many. Remember. this is only in bal
chases in France. England is doint
the same thing. and 50 is Italy.
Growing Trade.
These countries are only buyinl
from US such things as they canno,
get elsewhere. such as cotton. sugar
copper, etc.-in fact, only raw ma
tertal upon which only very little O;
our high-priced labor has been ex.
pended. I have already stated that thu
three prime requisites are gold. food
clothing. OF the three, gold is the
most important factor in the rehabili.
tation of the exchanges. We now have
in this country, corralled in such
way that 1t cannot get away from ua
almost one-half OF the visible gold
supply Of the world and more coming
altogether too much for our owl
good-we could, to our advantage
readily dispense with fully one-hali
Of It. This wisely distributed among
the nations OF Europe would inspire
confidence in the ultimate redemptior
OF their excessive note issues with Tho
resultant Improvement in the exs
changes. We must bear in mind thai
gold has only q fictitious value. ana n
the most useless metal that 10 mined
The same power that created its value
can also undo It. and IL we continue
to accumulate the entire output som(
substitute will be found that will
work just as well as q basis for credit
The use Of gold in the arts and in,
dustries is being very seriously re.
stricted in the European countries BY
placing a tax of SO per cent or 30 OF
all purchases for that purpose.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
AMPLE POTATO SUPPLY
KEEPS PRICES MODERATE
Baltimore Apple Market Steady /;
Chicken Receipts Liberal and
Strictly Fresh Eggs Advance.

Special Dispatch to The Star.
BALTIMORE. Md. October 25-The
supply of white potatoes is more than
ample for the present wholesale de-
mand in evidence. as a consequence
of which prices have ruled In buy
ers favor during the past week.
Sweets and yams are also coming in
sufficient quantity and consequently
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26

sn NEW YORK. October 25.-Wheat-
w. e'' quiet; No. 2 red, 2351a, track
s,ead, YORK: export billed. Corn-Spot
sSuy' NO. yellow and No. white,
o. a. cost and freight New York.
WaesiLSpot quiet; No. / white, S21a;
"onlhal. Other articles unchanged
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
WILL RETURN TO MEXICO.
Ambassador Bonillas to Head For.
eign Relations Department.

MEXICO CITY. October 25.-rhe
newspapers today say that Ygnacio
Bonillas, the Mexican ambassador in
Washington to take charge OF the de-
partment Of foreign relations until
dido Aguilar. returns from his Euros
pean mission.
Alfonso Siller. who has acted a. for.
eign minister and first, secretary. OF
the. embassy in Washington, will take
temporary charge Of the Washington
embassy, according to earlier advicea
from Queretaro. where President Gers
rama is spending his vAcatteA -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
TRADING IN STOCKS
HAS VARIED WEEK
Speculative Issues in Sharp
Advances and Similar
Reactions.

NEW YORK. October 25.-Trading
in stocks this week was on the largest
and most varied scale for any similar
period in many months. Dealings
again centered in speculative issues.
some of which scored sensational ad-
vances, followed by equally sharp re-
actions.
The character of the trading not
only reflected its professional origin,
but pointed to an overextended bull
position. despite the advantages
which easier money might have af-
forded.
rr..es were stabilized later by ex-
tensive buying of rails, secondary or
reorganized properties participating
almost in equal degree with invest
ments. Accumulation of rails proceed
ed from the belief that federal legis-
lation and other developments at
Washington are shaping favorably for
the transportations.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
LIBERTY BOND PRICES

NEW YORK, October as-E,,.,
prices today were: avs, lo0.72. first
g. $3.50: second Is, $3.50; frst Us
$3.50; second AIS. 93.72:-third 4Es'
$685.: fourth Ans. 93.7o: victory as
2f.ios -Y10toeE "a 0ekn 49,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
Trade Expansion Shown.

Although business at industrial
Of strikes and other Industrial dis
turbances, the volume Of bank clear
ings at leading reserve districts testf-
fed to further expansion of general
trade. -...
International financial features of
the week Included the offering of a
$3.50, 100000 British government loan
by nationwide banking syndicate.
and announcement that the sac. 900. 900
French municipal loan placed here
three years ago will be paid at ma
turity on November 1 next.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
Intelligent and Energetic.

The Investment bankers Of the
United States are. by the very
nature of their calling, the most
Intelligent and energetic people
in the world, otherwise they never
would have accomplished what they
have done in the past. One achieve
ment alone stands out unique in the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
Former Enemies Now Friends.

Our former enemies. Germany, Aus.
trfa, Turkey and Bulgaria, are people
just the same as we are and have the
same right to live, therefore any
scheme or plan covering the rehabili.
tation of the world will have to in
clude these nationalities just the same
as II nothing had ever happened. Lei
US devote a little time to Germany in
order to determine the important role
that that country is destined to play
in the future. We are being misled
by the tales of woe that are being
brought to our attention emanatine
from German sources.
Returning travellers confirm what
thinking people have always sus.
pected. The German government may
be bankrupt, but the German people
are not-either financially or physi-
cally. Their factories are in perfect
working order-mostly free of debt,
as during the war they, in their as.
tuteness. paid off their bonded in
debtedness with war bonds wherever
they could. Their machinery and FIX
lures have greatly increased in
value and all they now lack is raw
material. They are past masters in
the art OF substitutes and there will
be many surprise in store for the
world when new products will be OF.
fered that will be found to be better
than the ones that they will displace,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
Advantage of Quantity Production.

They have learned the advantage OF
quantity production-their business acu.
men Is Just as keen as it ever was, their
spirit OF organization is absolutely per-
fect, their commercial training will
quickly adapt all scientific discoveries
That were made during the stress OF
wartime necessity-and the world will
be surprised at the rapidly with which
they VIII regain their supremacy in the
commercial world. They have every in
centive to produce with the huge in
demnity that has been placed upon their
shoulders-France and Italy and Bel.
eium all rely upon the payment of this
indemnity for the restoration OF their
equilibrium. and II Germany is hindered
IN its work Of rehabilitation through any
mistaken notion of sentimentalism, then
may the Lord have mercy upon the rest
of Europe! Germany's commercial and
industrial downfall will mean the utter
collapse Of the rest OF Europe, and we
here. living in q FOOLS paradise. will
have to face conditions that will be ap-
palling.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
Charity Not Wanted.

Charity is not wanted. as these
peoples are just as self-respecting as
we are. Nothing can be done unless
it is on a strictly business basis, and
in the end it will be found that It
has been q profitable investment.
Europe poured out it's millions after
our civil war, and this investment
turned out SO profitable that 1t re-
manned in the country and was turned
over and over again, until our debt
to the foreigner amounted to billions.
The country never would have been
built up so rapidly without the aid
of this colossal influx OF foreign
capital-and at that time the Ameri-
can dollar was worth only about so
cents and our 6 per cent gold bonds
were selling in Europe at 80. But the
foreigner had the courage OF his con-
victions. and ultimately was enriched
to an extent that by means Of the
invisible balance of trade he was
able to lay tribute upon our earnings
to the extent OF 700 or 500 million
dollars annually.
From now on we expect to be .
producing nation, and our plans are
30 ambitious that we hope to have the
world at our feet in q commercial
sense. This hope can and, az know
our people, will be realised. and 1t
requires only . modicum Of foresight
Ind an immense amount Of courage to
start the ball rolling.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
Week Range Of Prices, New York Stock Exchange


following table shows The n sane fnh n
for ID
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
Our Wonderful Position.

Contrast this condition with that of
the rest OF the world and consider
well what our future attitude should
be.
1t is estimated that the irredeemable
currency now circulating in Europe
amounts to over $4,000, 600, 900 in our
| money and the printing presses are
the German parliament recently stated
in a public speech that the machinery
and labor necessary for that purpose
could be diverted to a more valu-
able use, as the printing of paper
money has ceased to be profitable as
nothing could be bought with it.
These excessive note issues are not
the only cause of the present adverse
rates Of exchange. The main cause is
the acquisition Of things essential to
the existence of the Impoverished for
eign nations.
Three primary requisites-money,
food and clothing-are necessary to
vitalfze the peoples of Europe, and
1t is the pressing demand for these
essentials that has put the world in
debt to the United States. OF money,
such as it is. there is plenty-in fact.
the most destitute countries have the
most-it circulates. it is true. but 1t
has no purchasing power. The other
two factors-food and clothing-we
alone can furnish in SUFFICIENT guam
tity to ward off imminent distress,
and something will have to be done
If an early rehabilitation is desired.
But how is all of this to be done?
Nations will continue to exist regard
do not come forward ungrudgingly
with a helping hand recovery will be
slow, but nevertheless there will be
a recovery.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26

John A. Girardin, for twenty years
with the First National Bank Of Chi
cago and eighteen with the National
City Bank of New York. a veritable
master of foreign exchange. delivered
one Of the best and most interesting
addresses on Thursday last at the In
vestment Bankers Association con-
vention in st. Louis. The following
is the address in full:
"In times gone by the foreign ex-
change man was the least respected
among the banking community of the
country. In those daye. we Ameri-
cans were too self-possessed and took
very little interest in anything that
occurred outside of the boundaries OF
the country-and 1t was quite natural.
This country. although century and
a half old. was still in its swaddling
clothes. but withal very lusty in
FAINT.
THE world war has changed mat
tiers somewhat. and has forced us to
play our parts in the affairs OF the
world, and this active participation
in foreign matters will continue to an
even greater extent in the future. We
now fully realize that we are full
grown and the voice Of the American
people is to be heard in all quarters
of the globe. We still have q great
deal to learn, but we are apt pupils.
One thing. though, we have learned
thoroughly. and that is that tradition
has no terrors for US.
Who could ever have imagined twenty
years ago that the American flag would
some day proudly float over the RAM
parts Of the Gibraltar Of Germany. the
Ehrenbreistein at Coblerz on the Rhine?
The foreign exchanges from now on
will be the determining factor In the
welfare Of our country. and it may be
veal or 1t may be woe, according to the
measures that we must adopt in the
near future to convert our war sue
cesses into commercial successes. In
our coming commercial struggle we
must not admit the possibility Of fall
ure. but In order to gain the victory
over our competitors It will require our
utmost efforts, and these cannot and
will not be exerted until we fully realize
the necessity of commercial supremacy
the world over. We are the pampered
children Of fortune and the material
things Of life have come to US too read
ily-hence the struggle toward the goal
will be an unwonted and difficult one
Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26
Wealth and Debt.

In order to impress upon your atten-
ton the present conditions Of the civil
lied world. let me give you some data
that will be a surprise to a great many
people. Surprising the burden Of the
recent struggle to be in the form of a
mortgage upon the national wealth of
the opposing groups OF nations. we find
the results as follows:
Entente
National wealth. .......245 billions
war QeDt. 1Ol ollltoIS
AK per cent.
Central powers
National wealth. billions
War debt. 81 billions
53H Per cent.
United States
National wealth. $50 billions
Census Of 1919-now
nearer 400 billions)
War debt, including
loans to allies. 49,. % billions
5A per cent.
Here we have a comparative picture
that is exceedingly gratifying-but is
not all.
Since 1914 the deposits in the saw
ings banks have increased 81 per
cent, notwithstanding very large
withdrawals on the part of our alien
mercial banks of the country have
increased 81 per cent. In the year 1918
agriculture has yielded us fully 500
OOO.O00.000, while industry has con-
trfbuted upward of $32. 00O, 900, 900 to
the national wealth. Every dollar in
paper money that is in circulation
throughout the country, with the ex-
ception Of the national bank notes.
and these comprise only a small pro-
portion of the whole, has a gold dol
lar to support 1t. The invisible bal
ance OF trade has disappeared and the
American securities that have in the
past SO materially contributed to this
invisible balance of trade have been
returned to us and have been alb
sorbed by the investing public and the
amount ran well into the billions.
Furthermore, foreign investments in
this country have been Americanized
through the alien enemy custodian,
thus accounting for another billion
or SO.
Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1919-07-08
.SW0PE and HARDIN
MEET AT COLUMBIA

Columbia, Ky, July liking
Swope, of Boyle county and
Judge c. "A. Hardin, of Mercer
county, candidates for Congress
in the Eighth district, met here
Monday in joint discussion. A
large crowd heard them.
Swope's speech was taken up in
discussing the democratic admin
istration of the state under Stan
ley. He did not mention the Lea
que of Nations. Judge Hardin
spoke of the work that had been
accomplished by Woodrow Will
son, especially the signing of the
peace treaty by the Germans, and
predicted that the work of the
commission would be indorsed by
the Senate of the United States.
Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1919-07-08
AGREED TO TRY THE
KAISER ST: y AT LONDON L!,ll!l|
fRx Associated Pressl

Paris1 July 8-The agreement
reached BY the allied council that
the trial Of the former Kaiser be
held in London. was a tacit one,
but from American sources it is
learned today the agreement is
regarded as binding. What pur-
ports to be an authentic account
of the incident in the council upon
which the trial at London, was de-
cided, became available from a
usually reliable source. At the
meeting last week, the British
premier said 81 suppose you have
no objection to the trial of the
Kaiser at London" No one OBJ
jected, Clemenceau even giving
his verbal approval. 1t is assum-
ed that Lloyd George later had
unofficial conversations with the
council members.