davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-02-23

export gold when the exchanges
moved against us; this caused a
shrnkage in the gold reserve and a
rise in the Bank of England rates to
keep credit in its ratio to reserves.
Raising the interest rate caused gold
to be again attracted and also caused
people to pay off loans and TO post
pone new ones. If money were tight
and loans could not be renewed, goods
had to be sold at low prices, and this
encouraged export and the gradual
return to the equilibrium. Gold be-
ing the basis for loans and debts be
ing payable legally in gold credit
could always be kept in check. There
fore gold not only maintained the
whole financial structure but kept the
general level of price in consonance
with world prices-that is. gold prices,
The withdrawal of gold as a circulat-
ing medium has removed the old
check on credits and consequently on
prices; it was necessary to do that be-
cause otherwise commercial crises
could not have been avoided.
"Therc is too much credit in the
world and getting back to The gold
standard and it's cheek on credits is
prime necessity; for the state to aid
industry through further borrowings
through further expansion of credit
would only be to raise prices and
postpone the inevitable reckoning.
"Our committee therefore recon-
mended in brief that finance be
brought back to private basis and
that banks generally increase their
capital and pursue liberal but not
too free u credit extension policy.
They have told us that they have ample
funds to meet all needs and hence
saving this one question of imitation,
there seems to be no financial danger.
We do not need money from the out
side, for, in addition to the credit ia
cilties, I think that the shareholders
of corporations should come forward to
meet some of the increased capital re-
quirements of their companies And
they are already doing that. Every
issue that has been offered of late has
been largely oversubscribed in spite Of
the concurrent taking Of war loans'
"Do you think that the internal re-
quirements of England will be so great
that the London money market will
give way to New York SHAT New
York will be the new financial centre ?''
New-York tribune., 1919-02-23
From, Machine Gun
To .S0lesn,on's Counter

He soon became an expert and an
authority on the construction and op-
Grafton of this deadly war invention
of the United States. When he was
told to take one of the machine guns
to demonstrations planned as features
OF the war savings campaign he went
along merely because he was proud of
the wonderful weapon and delighted at
the chance to show the public what all
effective Hun-kiler it would make.
Inc war savings authorities set up
booth in front of the Public Library.
at the Fortysecond Street corner Of
flfth Avenue, as the best place to
show the gun. 1t was the one corner
that all New York and that large per-
centage of the population of the rest
OF the country that is always visiting
New York was sure to pass. 1t was
just when there was the most talk
about the marvellous new rapid-firer
the United States had developed for its
army, and there was tremendous inter-
est in the exhibit.
Even at that corner, where the back
firing of the countless motor cars
sometimes gives a fair imitation of a
sklrmlsh, there was no mistaking the
snarllng rat-tat-tat-tat from the booth
Tor anything but machine gun fire.
every burst" Sergeant Upton fired
drew crowd.
For while Sergeant Upton minded
his own business, which was to put the
pachlne gun through its PAGES, and he
left the stamp selling to the other
workers. But soon he began to take an
interest in it. Before he realized it he
found he was selling with the best of
them. Next thing he knew he was es-
tablishing records
When the Browning gun exhibit at
the library was discontinued, it was
found that Sergeant Upton alone had
sold 100000 worth OF war savings
stamps. BY this time he was sealot
on stamp selling, but he never dreamed
that he might be able 10 sell oiher
New-York tribune., 1919-02-23
Uncle Sam 8 Selling School
By-Pr0duct of Var Finance
How Vendors of Thrift Stamps and Liberty Bonds
Made Regulations as Statesmen and Won Places
in Commercial Fields; $4,000 Trained Here

7 AS Uncle Sam been running a
gigantic school for statesmen :?
1t begins to look like it, as
been offered good jobs as statesmen
been offered good jibs as statesmen
as result of regulations made selling
war savings stamps and other gov
ernment securities.
When the stamp campaigns first be-
gan plumbers. lawyers, plain business
men, housewives, schoolgirls and al
most every type Of citizen pitched in
to help the government They did not
care whether they knew anything
about salesmanship or not. Nine out
of ten Of them did not. But in spite
of that they sold stamps.
OF course, many professional sales
men Joined the campaign. And there
were many experts who did their best
to instruct the army of volunteers in
the art Of selling. But whether it
was the example Of the professionals,
the advice of the experts, or merely
practice making perfect, the amateur
salesman certainly did improve as
time went on.
Many OF these amateur statesmen
have succeeded so we'll in selling
stamps that they have decided they
could sell other things as we'll. and
they are making salesmanship their
life work
Sergeant Frank f. Upton, war
savings stamp salesman, who was one
of the most familiar figures of the
campaign, has just been offered
place as salesman for one of the
biggest New York lumber companies
Before the war he was a machinist.
He says himself he "never thought he
could sell SO bill" He enlisted in
the Ordnance Department from his
home town. Springfield, Mass. Be
cause of his mechanical skill he was
assigned to work on the Browning ma
chine gun.
New-York tribune., 1919-02-23

things just as we'll. 1t was not until
he was actually offered a position as a
salesman that he became alive to his
new qualifications
The offer was made when Upton's
talents came to the attention of
Charles A. Smith, a wholesale lumber
man, with an Office on lower Broadway.
Mr.. Smith was in charge of the war
savings stamp campaign in downtown
Manhattan when Upton and his Brown
ing gun were brought down from the
library and set to work selling stamps
at the booth at Bowling Green. Before
Upton finished the demonstration
there, Mr.. Smith had made him promise
to come back and sell lumber for his
company as soon as he got out of the
army.
New-York tribune., 1919-02-23
By Samuel Crowther
NeW York Tribune
European Bureau

NeW Yorl. Tribune
European Bureau
Copyright. 1919. New York Tribune Inc)
n ONDON, Feb. 81 had a talk
with Robert Fleming, the Eng
lsh authority on American in
vestments, to-day, in the course Of
which he brought out these extremely
important facts or opinions on the
financial relations between Great Brit
ain and the United States and most of
which run quite contrary to what we
in America have been taking as the
truth:
I That instead of England being
heavily indebted to the United
States and having in addition sold all
of her American investments, the war
exceed $4,000, 100000 when the accounts
are settled, and that the English in
vestors still have probably more than
that amount of money out in American
securities, especially in farm mort
cages.
> That England has ample money for
all her needs in the way of recon
version of factories and the finance Of
foreign trade and will also have in
vestment money for export and devel-
opment abroad.
9 That New York cannot because of
its geographical situation, and un-
familiarity with world commerce, dis
place London as a world money market,
but will rather be new market to
meet the expanding needs of the West
crn world.
A. That the logical and inevitable field
for American activity is the Ameri-
cas- and that it will be there she will
find her greatest opportunities.
= That once labor is settled, England
has no cause to fear her financial
and commercial future and without the
necessity for anything approaching a
trade war, which would be suicidal.
New-York tribune., 1919-02-23
Restricted Immigration
Makes Labor Scarce Here

During the last year ship car
penters have been getting good
wages. One very important reason
was that there was a large demand
for and limited supply of
them. If there had been a large
supply from some other country
which could have been drawn upon
indefinitely the wages of ship car
penters would not have been so
high. Any one who would have ad-
vocated drawing largely upon that
outside supply would have been a
friend of the employers, and not of
the ship carpenters. Any one who
would have favored a restriction
upon the importation from the out
New-York tribune., 1919-02-23
That, at Least, Is the Opinion of T. N.
Carver, Who Argues Policy Will Tend
to Keep Wages High i'm America

side would have been a friend of
the ship carpenters, and not Of the
employers.
1t is not for me to say whether
one ought to have been on the side
of the employer or on the side of
the ship carpenters in such a stu
alton as that. The question is,
What would have been the attitude
toward immigration of the man who
was really on the side of the ship
carpenters, and what would have
been the attitude of the man who
was really on the side of the en-
plOyers?
New-York tribune., 1919-02-23
By George E. Roberts
Dy S1oo4 % = "
Assistant to the President. National City
Bank Of Ncw YorL;

Assistant to the President National City
Bank Of Ncw York
Addressing New York state Farmers.
THERE is no mystery about the
rise of the cost of living. From
the beginnings of settlement
in this country we have been
exploiting the natural resources OF
continental wealth Of soil,
Of minerals and timber that had
been in preparation for thousands OF
years. They had almost no value TO
the first settlers-they were free as
air to the early comers, but in an IN
credibly short space of time popula-
ton has spread over the continent un-
til everything but air and sunshine
has price upon it, There has never
been a parallel to the settlement of
this country, and there never will be
again, because there is no other coun-
try like it to be settled. When my
father went TO the territory Of Iowa
there were less than 2O,OOO,00o people
in the United States, and my children
will see 200,0OO,000.
And the population Of the whole
world has been increasing. Even the
var will make but slight impression
upon it. The British Isles have sent
millions to this country, but they have
several times as many as they had
when emigration began. Germany has
sent millions and gained many millions
more. They have come from Scandi-
nayia and Austria, Italy and all lands,
and without any diminution Of the
number at home
New-York tribune., 1919-02-23
After All, Is England Really Under Such
Tremendous Financial Obligation to Us?
British Holding of American Securities Especially in
Authority
Contends New World Is Logical Place

the country's possibilities. You have
whole world there Of your own-a
world in which you could live without
aid from the outside and without ever
exhausting your home market. | can
not imagine anything which America
cannot do now that you have the
money. I have been going over all
these years to invest money. Now"
he added, with quiet laugh, II sup
pose that I shall have to so over and
sell securities"
New-York tribune., 1919-02-23
Ban on lmmig igration Will Provide Work for All Except

pine Islands from the United States
are mainly of this sort, but immi-
grants into the United States from
Europe are not. Instead of swell
ing the numbers of employers rela-
lively to the numbers of the en-
ployed, thus creating a balance IA
vorable to the laborers and unfa-
vorable to the employers, they swell
the numbers Of the laborers rela-
lively to the number of employers,
and thus create balance favorable
to the employers and unfavorable
to the lahorers.
New-York tribune., 1919-02-23
britain Very Far
From Being Dead

"That which does worry me not
little is the rate of taxation and the
attitude Of labor. We are but little
island-we have not the possibilities
of home development which you have
and we must trade cut in the world.
We must live on our ships and what
they carry, and if our taxes are too
heavy we mny not be able to sell. And
then, again. II our working people will
not cooperate we shall be unable te
rcmake goods at price at which they
New-York tribune., 1919-02-23
SeIf-Interest-Arld
Ones Social Opinions

When one finds a journal like
"The Nation" expressing such unct-
uous regard for the laborer and at
the same opposing restriction of i'm
migration, one cannot help remem-
bering that "The Nation" is owned
and run by men to whom a large
supply Of cheap labor is a financial
advantage. When one finds a GER
tain type of social uplifter engaged
in carrying the culture of the we'll
to do classes to the slums and at
the same time opposing a restric-
tion of immigration, one cannot
keep down ones suspicious, espe-
cially when one wonders what these
people would find to do if laborers
should become so scarce and hard to
find as to enable all laborers to get
high wages. Please understand, the
writer does not charge any of these
people with hypocrisy. The French
have saying, "Why be a hypocrite
New-York tribune., 1919-02-23
Neso World Best
Field for americans

"That however which impressed us
MS a paramount consideration is tho
reastablishing Of the gold standard.
That will put an automatic check on
credit and reGstablish the internation-
al market for gold. When we had
free market it became profitable to
New-York tribune., 1919-02-23

upon all the masons that were there,
there would, at least locally and
temporarily, be too many hodcar-
riers. If there were more masons,
also more of the other men and
agencies necessary to utilize more
masons, then more hodcarriers
could be emploved.
New-York tribune., 1919-02-23

when it is so easy to deceive your
self?"
New-York tribune., 1919-02-23

industry, as to make them much
more numerous than they now are.
If that process could &C on unhin-
dered and without counteracting or
multiplying influences, in short time
we should have q nation so we'll
balanced as to approximate as
closely to equality as it is possible
to go without q general destructive
levelling-down revolution Of the
Russian type.
Unrestricted immigration, how
ever, counteracts the levelling-up
tendency of our popular education
and helps to nullify it's results. The
hteracy test, mild as it was, was
beyond all question the most benef-
cent, farreaching and constructive
bit Of social legislation enacted dur
ing the present administration. It
works in harmony with. and not con-
trary, to the levelling-up process of
popular education. It tends to make
ignorant and unskilled labor less
abundant and harder to find, just
as our free schools DO. 1t tends
to make intelligence and skill, rell.-
lively at least, more abundant, just
as our schools and universities do.
New-York tribune., 1919-02-23
Workers Anticipate
Difficulties ira adjustment

During the war Jobs increased
faster than men. Men were there
fore hard to find For the hardest
jobs, that is, for the army, the gov
ernment conscripted some of the
men. For the others, that is, for
industry, the old method of offer
ing reward was retained. In pro-
The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-05
ToMoRRoW'S
DAILY INTERIOR
E YORK, COTTON.

NEW YORK, Aug. 5,-There was q
further sensational decline In the cot
ton market during today's early trad
ing, The selling seemed TO be oven
more general and excited than II was
yesterday, owing to increasing nervous
ness over labor conditions, the large
supply Of old crop cotton reported on
hand at the beginning Of the new sea-
son, favorable weather In the belt, and
very weak Liverpool cables, First
prices were so to 40 points loTer and
before the end of the first half hour
active months were selling lS7 70 lii
points net lower, with October touch
ing S0,Sb and January Si.05.
Tho early break carried prices about
level or last Saturday and evidently
attracted active profit taking by recent
sellers, This demand steaSGed the mar
ket n there was also some trade buy
ing on which prices rallied sharply later
with October selling up 10 80 05 and
December to 32.35 at noon or about t20
to 100 points from the early low level.
Covering continued during the early
afternoon and prices not only 'recov-
cred all the early losses. but sold some
10 to IL points higher. Around S2,4 0
for October and 32,b5 for january the
demand from shorts seemed to have
been pretty well supplied, however. and
the market eased Off again under re-
newed realizing or liquidation, with
prices showing net losses OF GO to 10
points around 2 O'Clock.
Futures closed very steady at decline
Of Ga to SO points.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-05
AMERICAN SHIP MEN
ARE AT DlSADvANT AGE

RIO DE JANElRo. Brazil, Aug. o.
(prth American ship owners are placing
themselves and North American bust
ness concerns at n disadvantage win
their European competitors here De.
cause their agents In this city are no!
actually representatives of United
States concerns, according to the Amer
lear chamber Of commerce for Brazil.
This body recently appointed a com-
mittee under the craftsmanship of Act
ing Consul General Hasskarl to tnvest
gate the shipping situation as 1t A.
fects North American business, The
committee reported that by leaving to
the discretion OF ship captains the Sc
lection OF agents, North American own
ers have been heavily ~overcharged for
repairs and other necessities IN this
port and that eventually this eXpendi-
ture falls on the shipper.
1t is declared by the chamber that
his condition Is u vital weakness IN
the foreign trade development of the
United States. AS n remedy the rec
concentration IL made tnat North Amer
lean vessel owners either establish. their
own agencies or authorize the United
states eonsul-general to recommend
agents, not only In Brazil, but in all
South American countries,
The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-05
FROM WALL STREET
Extensive Liquidation During
Entire List, Led by Steel,
Features Opening.

NEW YORK, Aug. 5,-Extensive liz
uidation of stocks, accelerated by fur
ther short selling, was resumed at the
beginning Of today's session, the a
ket showing little or no trace Of sup-
port. Losses Of one to five points were
~impartially distributed among the lead
ing rails, shippings, s%teels, equipments,
motors, oils, tobaccos and food and fer
tiiizer shares. u. s. Steel, usually the
markets barometer, opened with a sale
Of 5000 shares. at l03% to 1882, against
yesterdays final quotation Of l0i&. IT.
regular rallies Of fractions to a point
SEA In before the end OF the first half
houl.
Shorts covered hurriedly in the more
vigorous rebound at midday when many
Of yesterdays losses were materially
reduced. Several important stocks
showed actual gains Of 2 to s points
While the extent of the rally in s%teels,
motors, oils, tobaccos and textiles
ranged from42b to 10 points.
Tobaccos, oils and rails strength
ened their pesotion later, but steels and
equipments were inclined to react mod
erately. The closing was steady. Sales
Appropriated 1900. 600 shares.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-05
MISCELLANEOUS

NEW YORK, Aug. Bar silver.
CHICAGO. Aug. 5.-Butter lower:
eggs. receipts. 1926 cases; un-
changed.
Poultry, alive, unchanged.
Potatoes, firm; arrivals, 80 cars;
Irish cobblers, Virginia and Maryland
oarlots, 1925 barrel; California long
white, sacked CARROTS, $3,S504.00 cwt.;
Minnesota, Kansas, Missouri and Illi-
nois. early Ohios, sacked, ~carlots, $3.50
Q3. 30 cwt.
NEW YORK, Aug. 5.--Butter, un-
settled; receipts, TIA; firsts, STAG
Eggs. irregular; receipts, $685.;
firsts, 4Td50c.
Cheese, easier; receipts. 1881; aver
age run, 31R432hc.
Live poultry. steady. chickens $40
40c; broilers 37@40c; others, %unchang-
ed. Dressed poultry, steady; western
broilers 43@4Sc; chickens S7Q4lc; 9TH
ST. LOUIS, Aug. 5.--Poultry I'M
changed. Butter, creamery SIC. Eggs
37hc.
NEW YORK, Aug, Stopper quiet;
electrolytlc spot G0M WAC2' august,
23A @23A; September, "a,
Iron steady and unchanged. Metal
exchange quotes lead steady; spot $50;
SepteG per 555@557.
Spefter easy; East st. Louis delivery
spot, 725; Sept, S5@757h.
At London: Spot copper, G99 5s; fu-
lures, G10O los; electrolytic spot G110i
futures, 9125. Tin spot, G276 los; fu-
lures, EGGS 5s. Lead spot, G25 IS; fu-
lures, G25 15s, Spelter spot $40 los
futures, Sal los,
The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-05
COFFEE.
AMERICAN EAGLE BOATS
ARE NOW IN WHITE SEA

ABOARD U. S. EAGLE BOAT NO 3,
IN WHITE SEA, Aug b.-American
Eagle boats now are operating on dis
patch service In North Russian waters,
Eagle Boats Nos. l. 2 and 3, the first
built Of this type for the American gov
eminent, arrived In Archangel after a
9, 200-mlle run under their own steam
from the Atlantic seaboard and accord
Ing to their officers, have more than
made good,
Crews OF the larger naval vessels are
inclined to chaff the Eagle boat men
and call these craft the "tin ~llzzies'
of the navy, but the officers of the
Eagles are proud Of their seaworthiness
and effloit ncy,
The Associated Press correspondent
has Just made q trip from A~rchangel
to KEN, across the White sea, aboard
the flagship Of the little f%lotllla, and in
this 16-hour run, In stormy weather,
opportunity to show their seaworthi-
ness,
In Archange0 at this season OF the
@ the weather has been almost trop-
lcal, and the American officers, who
had expected to find the Arctic frigid
June, were confronted, instead, with
temperature and sunshine that made
white duck the prescribed uniform.
Two hours out OF Archangl, how-
ever, at the entrance to the White sea,
the Eagles ran into a cold gale and
snowstorm which set the light craft
tossing and rolling and forced the crews
Quickly into their woolens and oilskins,
However, the Eagles kept blowing
along their course, and arrived In Ken
harbor none the worse for one of the
/ worse gatherings they have yet received
With their two four-inch guns, one
three-ineh antiairoraft gun, and ma
| chine gun antiairplane battery. the
| Eagles might be expected to give 2
| good account OF themselves, say the OF
| fieers, against submarines or n above
the water craft Of anything near thell
size.
| White sea are under the command o
| Lieut., Commander Norman Scott. U
s, n, whose home In Is Indianapolis.
The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-08-05
DEMAND FOR KAISER
MAY AID HIS CAUSE

BERLIN, Aug, 5.-The vorwaerts de-
clares that the entente, by demanding
the surrender of the former German
emperor is affording the monarchists
an opportunity FOR noble poses, which
ia calculated to win sympathy for
Count Hohensollern and his defenders.
"a bit of prudence might have told
the entente that much in advance"
the paper adds, The pan-German
peutsche Xeltung says; THE German
people, who on June %, 1919, q day
az dlshonor, In cowardly traitorous
flight surrendered It's imperial master
win again remove this blot from Its
escutcheon."