davidaulloa/AmericanStories huggingface dataset:
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1919-02-01

W czwariym rOku swego iStnienia dy-
| rekcya pOzo3tala bez Zmiany. Otwarto
cztcry serge W klatSic "A. dwic serve
W kla sic p. o.0lna liczha akcyi Wy
noSila Okoio 400.
w piatym roku W sk}ad dyrekcyi
banku sw. Jana Kantcgo wchodzlli o.
hywatele: Wojcicch ~PGdg6rski, prezes;
! MARGIN POciaSL, sUkrGtarz, Franciszek
Konkowski. kasycr; Stanisiaw Pitera,
! Jan PociaSk. Jtzcf KorZeniewSki, Fran
ciszck Z~marzlifISki / Micha} Czechan-
ski. dyrektorzy, adwUkatem byf p. 10
zef +. Tadclski.
W piatek rOku Swego istnienia dy-
| rehcya pozOStala bez Zmiany, otwarto
! znGw cztcry serve w klasie IA | dwie
| serge w klaSic b.. OgGlna liczba ak
! CYL wynoSila G,l32, a ma po~2yczkach
Sp6lka miala $116.7JJ.50, caly zas ma
jatek wynosil $133,0J2.7 rs. Zysk wynosil
sung $11, 704,G3.
Ma rOk szGSty wybrany zoSta{ pono-
wnle ten SAN zarzad i d~yrekcya W tym
rcku otwarfa 24-ta serge klasy IA i
! 3-cia serve klasy B.; W tym roku wy
pisano 2135 akcyi; doch6d tego roku
wynosil oko}o $135,O0O.00 z czego wypo-
ayczono sumo $%60,175,00: ma kSiQaki
wplacono okoio $73,5O0.O0.
W roku tym "a akcye wycofano wy
pIacOno Okoio $3S, 700.00.
In siedem lat swego istnienia, Sp64ka
| Sw. jana Kantcgo wypsala akcyi H.
400, II togo ~wycofano akcyi 1913, ma
KtLre wypIacono sumo okofo 500, 100000
| Cd kt6rej wyplacOnO procentu $4,141.SS.
Akcyi Obecnie pOzostaie W biegu 6,956
majatdk Sp6lki Obccnie wynosi oko}o
$3.50, 90, ma pOzyczkach znajduje
sic $242,67j.50, n zySk ME rozdzielony
wynosi okoio $24,000.O0. Fundusz re-
zcrwOwy wynoSi Okofo 81, 10000, "a
siedem lat ulzieloao pozyczek akcyo-
naryuSzom $331,232.00, q teSO splacih
| akcyonaryrlsze sumo $SS,556.50, vice
ma pozyc1kach pozostaj C suma $242,-
$3.50. Ma kSilzki wplacOno regular
nego podatku OkOlO $24O,OO0.D. do
tychczas wypisano juz 1000 ksiQzek.
czynnych czionk6w jest Okolo 900. O.
becny sklad dyrekcyi Sp6}ki p. w. Sw.
Jana Kantego jest nastepujacy: p. Woj
CZECH Podg6rSki. prezes; rok si0dmy;
p. J6zcf SmoczyGSki, wiceprezes rOk
Si6dmy: p. MARGIN Potash, Sel1r. rok
T-my p. Stanislaw Pitera. aSyStent
| skier. rok 7-my p. Franciszek ZmarZ-
lif=&i, kasyer. rok 2-gi; PIP. Jan Po-
| ciaSE. J0zef Korzcniewski, Franciszek
| KonkOw<ki, MichaI C~zcchahski, rok
7-my. Alw0hat Stefan C~aryhSki, rOk
ieden, kt0ry pc wyborZe W niedfugim
! czasie powolany zostal do Armii WI
ia Sama. Mieisce jego podczas nieo-
becnoSci Zajqf tymczaSowO adwokat
F.anciSzeGl Mach, kt0ry ustapif re swe-
90 stancwiska a~dwoilatowi C~ary6Skie-
mu 20 powrocie u wojska.
Same nazwiSka tych szanownych o.
bywatcli i ~powszechnie znanych Ro-
dah6w naszych Swiadcza znakomicie o
tenn naSzem przedSiewzieciu, oraz sta
nowiq nailepsza gwaramcye rZetelnego
p~rowadzenla interes0w wSzelkicb, kt6-
re zres1ta SO pod kontrola wladz sta.
ncNych, pouiewaz Sp6fka sw. Jana
Kantego nalety d oStsnovej i do Pol
skiei Lici Sp6lek Poiyr1kowo-Budo-
wlanvch W Stsnie Illinois.
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1919-02-01

La Porte Mills mnteryc M NJ
- peinych 80 jardowych sztl
calowych francusklCh serz6w.
tOwane odGienle, reg. l.TJ n
saru1ek, " tel ~
s~przedazy, jard $500.
Dziennik Chicagoski. [volume] (Chicago [Ill.]) 1890-1971, 1919-02-01
ZAPAS S la Porte Mills 2.25 ITS Mat ma 81

81 cal. cafk. VEIN. serEe ma ubr., 2.!5 v
80 cal. VEIN. Storm serze, go wart
A. cnI. Nyein. frnncuskie ser&e, 2.25 y
IL cal, cnik. VEIN. gnberdines, 2.25 v
- cnl. piekne weln. Tric0tine, $50 v
~ cal. pIekne vein. P~Opliny, 80 w
~ cal. wefn. Armeure Cloth, 2.25 w
az raj. piekDa wefn. EpinSle, go W
sc cal. cafk. weln. Cream serEe, $50 v
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

FOR SALE-LOts near Lincoln way w.
Prices $3.50 70 $50. Some have al i.A
provements in Viii ell on terms 70 suit
buyer. VIII accept Liberty bonds Also
several houses for sale. Inquire Ella
Prast Main 369T JSJ3-I
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

St Joseph county. Indiana. and is TO be
known as the Edwa I'd sburg Highway
road when so improved
Bids viii be for the completion Of the
said Improvement IN accordance with
the plans profile and specifications In
the office Of the auditor " said COUNT
and shall include all labor and material
for said work. In case will extra
compensation be allowed for any add
t1Onal work alleged TO have been done
by the contractor or contractors 10 whom
is awarded the contract
Each bid shall be accompanied by a
personal or surety bond In q sum equal
20 double the amount OF the bid nled Tor
the work bid on, % be approved by the
board of cOmml ssiOners OF said county.
Said bond shall be conditioned for the
faithful performance OF the work the
suretles. II personal, shall be resident
freeholders Of the state Of Indiana, one
of whom shall be resident ~ St Jo-
seph county.
Said bond shall be for the benefit OF
any person, persons or corporation who
shall suffer any loss OF damage by rea-
son ~ any such bidder failing or neg
Letting 10 enter into a contract 20 per
form such work awarded by the said
board OF commissioners or to carry out
the same i'm any particular or % pay for
any labor OF material which, may have
been furnished 20 any such contractor OF
contractors OF 10 contractor. agent
or superintendent under him, IN the con
structiOn OF said work.
Said Improvement will be let rs n
whole To the lowest responsible bidder
upon affidavit of noncOllusiOn, which
must be submitted with the bid. and
upOn failure 20 submit such affidavfr
such proposal or bid Will be rejected by
the board and the board reserves tne
riFht TO reject any and all bids Time
for the completion OF said work will bee
agreed upon after the letting of sal1
contract by said board Of commissioners
and successful bidder
Given by order 81 the Board Of Com
nissioners Of said County.
ARTHUR F. WOLF,
Auditor St Joseph County.
3O-Aug. 6
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

ATTENTION, BUYERS: Look over this
list: ZI2 acres, 90 acres. 100 acres. 10
acres, les acres. so acres, * acres for ex-
change for River Park or Mishawaka
property. These farms are In the vicin-
ity OF WalkertOn and North Liberty.
For Information see j. F.. Bose, Walker
ton Ind 7545- Sept3
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

WANrED-Lady janitOrs. Apply Infor-
nation Bureau, Studebaker's 1861
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
NnN.REsInENr NoTICE.

NON-RESIDENT NOTICE.
STATE OF INDIANA, ST. JOSEPH
COUNTY. SS-In the ST. Joseph Cir
cult Court May Term. 1919.
STEVE ELLO
vs.
L. l. HEATING. whose true christian
name is unknown.
Attachment and Garnishment No fOJ
BE Ii Known, That the abOve-named
Plaintiff has filed in the office OF the
Clerk OF said Court complaint against
said Defendant I'm the above cause TO
gether with "a proper affidavit that said
Defendant. +. T.. keaJing. whose true
christian name is unknown, Is not a
resident Of the state OF Indiana.
Said Defendant is hereby notified that
SAIL cause will stand for trial on the
18th day Of September. 1919, the same
being the 1st day Of the next term or
said Court TO commence at the CITY OF
south Bend. on the 3rd Monday In Sep
tember next. on which day said De
PENDANT is required 10 appear 10 said
action.
WILBUR VI WARNER. Clerk.
LLOYD T.. COLEMAN. Deputy
GEORGE SANDS. Atty. for Plaintiff.
$3.50 Aug. 6
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
MALE HELP WANTED.

MEN, Is and over. Of South Bend and
vicinity. desiring 90 prepare for gov
eminent examinations for positions as
postoffice clerks, departmental clerks,
railway mall CLERKS, government farmers,
revenue officers. customs Officers, etc.
call and interview Mr.. Henry Laurens at
Jefferson Hotel, Friday, Aug. s. Perma-
nent positions at good salaries Minors,
under q, must be accompanied by par
ent. Hours, 1 p. N. until p. m. One
dav only. 1919 q
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
LEGAL NOTICES.
NOTICE TO ROAD CONTRACTORS.

NOTICE TO ROAD CONTRACTORS.
State Of Indiana. ST Joseph county. s.:
Notice is hereby given that the board
of commissioners Of said county, at
their Office I'm the court house nc south
Bend. Indiana, VIII receive sealed pro-
posals for the Improvement Of certain
highway 339GJ3 feet I'm length. In said
q, unity by grading. draining and paving
with concrete as set out I'm the specin-
cations. plans and profile now on file IN
the Office Of the auditor Of said county.
tv and under the laws OF the State Of
lqdiaua Said sealed proposals will be
ooened and the contract awarded for
said Improvement on the 18th day or
august. 1919
ttids or proposals viii be received up to
ten o'clock 4 NJ on said date.
The said road 20 DE improved is TO-
Gated In Clay and Harris townships In
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

In answering blind ads. write the ad-
dress given IN the al on sealed envelope
Hnd leave al The News fines office. No
identity Of the advertiser can be given
az this office
The News Times viii not be respOn-
sole FOR more than one Incorrect inser
ton II an al. Neither will we be re-
EpJEsible for ads taken over ne phone
Read your ad. Phone Us IL a IS wrong
40 stop orders FOR Want Ads can be
received Inter than 10 a. 10. or p. m
The Ncws-Times reserveg The right 10
classify Bds according 20 Its own rules
governing classification. Telephone your
ads and save time
Under no circumstance win ads be mis-
Classified. The classification ig for the
reader not for the adveTtiser).
Copy for afternoon edition must be
10 office by 10 a. N, and for morning
edition BY 2. m.
The following answers 20 blind ads
n Vhn Nn~rg -fTfrrna nnafrrfflrns
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

HOLDERS AND COREMAKERS
Gray Iron malleabe and brass. floor
TRANSPORTATION furnished II z h @ [
wages. Steady employment guaranteed
10 competent men. State experience and
names OF shops where last employed.
Only good mechanics wanted.
o. Box 2S. Chicago, Ill
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

terest i'm work No others need apply.
Address Post office Box Us, South Bend.
5S41-tP
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

LADIES wanted 70 pack and dsp candy
Good wages paid j. d. Weber. corner
Carroll and Wayne SITS 75SO-7
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
REAL ESTATE FOR SALE.
FOR MAZE

Modern home with garage, sherman
av-. $500. Possession sept /, 1919
). Eddy. modern semi bungalow,
s.. coo on payments
Hamden c.. modern six-room. $500
on payments. Possession within 10
days
z Ohio, m Gern cottage, $500.
+. Wenger St, eight room home, mod
ern but furnace and electricity. Large
lot Barn with room for two cars,
IS, 600
=. Fox St, seven room, nearly new,
s., 500 on payments
Euclid Az, six room home. 5000 on
payments.
St. Louis Blvd. seven-room home,
s. 500
". X. McHENRY.
220 Farmers rust Bldg
Lincoln 5T33.
75O6-tf
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
PER SONALS.

DANCING
Dancing at Reid's Pavilion. Barron
Lake. every Wednesday. Saturday and
sunday evening Harlequin Society
Orchestra. JyIS-S
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
on E M S I D M.E S
WANTS
CLASSIFIED RATES.

60 words one time ......s rs
20 words three times. ....... 80
20 words seven times. ........ 1.2O
20 words thirty times. ....... 800
TO want ad taken FOR less than 25c
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
LOST AND FOUND.

FOUND Bunch Of keys. Call at office;
News Times. tuuu-o
LOST - BY Inter-City Transfer Co.
round canvas truck cover, between
South Bend and Niles ana buchanan or
Elkhart and Goshen. Reward for return.
1852 l.
THE man who was seen 20 pick up black
pOcketbOok on the bench in the CltN
Hall hy tie clerks door is known, anu
I'm order 10 avoid trouble return TO 90
1923 g
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
SITUATION wANTED-MALE.

WANTED Position: experienced book
keeper. general office work, cost clerk,
cashier or time keeper. Address Box
- care News Times. OBJ tt
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06


go Farmers rust Bldg.
75O6-tf
FOR SALE-Five- room house; paved st
all street improvements paid for: NOT
modern except gas; near Studebaker's.
Call 3O9 l.. sample st. 5000. 1851
FOR SALE--Modern s-room house.
Good barn. In good location. Paved
street House empty. Inquire at 81
Wenger St 5000
SOUTH MAIN STREET
Six room house with city water gas and
electric lights, on lot 4SX1G5. Price
S1,oOO. Payment plan. Home phone
Oil 4. q. NOight Mgr. Bell phone
~. Central Realty Co, 800 Citizens
Bank Bldg. 1904 II
FARMS FOR SALE.
1S2 acres. 9 miles northwest OF South
Bend, miles Of Lincoln Way, l0-rOOm
house. large bank barn. small tenant
house ami barn; ID acres good timber.
Large orchard and Vineyard Splendid
opportunity.
100 acres, . miles out of Three oaks,
Michigan. Good buildings aud first class
grain anu stock farm.
200 acres near New Carlisle. New
house. good barn. Can be divided into
two 50 acre and 40 acre tracts VIII
accept South Bend property or smaller
farm as part payment. Terms hberaL
10 acres, miles west Just of Di-
vision st. road. ] mile from interurban
station Good Groom house. bank barn.
About 400 fruit trees, and all kinds Of
smaller fruit and truck. First class
chicken and truck farm. Terms liberal
20 acres opposite South Bend Coun-
try club. miles west. Easy terms.
a6 acres. on both interurbans 5lk
miles west OF South Bend. Splendid o
room house. Good barn. = silOs and all
buildings first class Good Young or
chard. All kinds of small fruit An OPP
pUrtunity 10 secure u beautiful country
nome.
W. d. DUNNAHOO, 40 J. NJ ). Bldg.
South Bend Ind Phones-Office Main
T. Residence Harrison 80 Fl
FOR SALE-Lots near Lincoln way W
Prices 500 70 $50 Some have al 49,. -
provements in. VIII ell on terms u suit
buyer. VIII accept Liberty bonds. Also
several houses for sale. Inquire Ella
Prast, Main 365I JSJ3- U
FOR SALE
l modern house on Indiana .... 50, 600 90
l modern house on L. Haney ay. 1900 OK
l modern house on l.. Haney av. /. 400 90
/ house on K. Wenger st. ...... 100000
house on L. Wenger 81. ...... 900. 20
> houses on y. Blain av. ........ 100000
1 house on L. Fox st. ......--... 1,SOO.0O
j. A. MCCULLOUGH.
Res. Home Phi 7247 Office, Bell 1886
JO4 L. Haney Av. z35 ). Mich. St
6l6l- II
HOME BUILDERS
We would like to interest you In lOts
in Smiths sub division. This new resi-
dence plat lies between johnson ST. and
Wilbur st, east and vest, ana between
ElwOO0 Rv. and Vassar aV, north and
south. Located between the Portage av
and Lincoln Way west car lines IN a
splendid residence section, these lots
/ should appeal to the investor or the home
/ builder. PriceS reasonable. Terms lib
eral.
Buy lots. Buy al you can safely
AIRY on the contract plan.
AS you see the city grow, you eventu
ally will buy. You will never buy as
cheap as today. special attention TO in
! quiries by mail let us send you our
! literature on South Bend and its real
estate opportunities.
X. C. OSBORNE
Agents Ageh.s
w p. FUREY
l Home phone oSG6
Bell phone sos 211-u
NEW MODERN HOMES
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

GIRL WANTED-GirI ror tying pack
ages and one office girl. Must be over
% years OLD Apply VanderhOcf & Co.
l27 T. Washington -. ASH
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
MALE HELP WANTED.

WANTED -Firemen and stationary engi-
ueers no Central Labor Union, 30 :
Michigan Il. fG2J- )
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
BUSINESS CHANCES.
BUSINESS PERSONALS.

DIR. L. ". MALLIsTER'S Gall stone
Liver Remedy. 80 years success.
Avoid operations For sale by The
H L. Freehafer Drug Co. 124S W.
Washington NV. 1854 .
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

WANTED AT ONCE - Experienced
housekeener for Miami Country club.
Mishawaka Good wages Steady posi-
ton. Apply ra Beiger Furniture CO. or
Premier Bed Co. Phone Isl or 153
2t6
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06
FARM LANDS.

FOR SALE-Farm. no acres. : miles
nortl, Of town. Nice clay and gravel
ali land Is on 70 crops: has big bern,
cement silO, granary, double house well
fenced. VIII sell reasonable. with or
without crops. Deal with owner. n.
Polls, l42e Portage av Home phone
sta 29i ~
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

WANTED-Girl for general hOuseworK
lis L. Monroe 81. 1887
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

60 Girls Wanted
Apply at T. willard Ready Co. corner
-. Joe aud Washington. $3.50 II
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

wANTED-NIaid and cook Good wages
and no laundry work 80 W Wash
lngtOn. Main l65. 59J6-T
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

wANTED-Competent girl for general |
homework. No washing or ironing
Good wages paid. Call between seven
and one. Mishawaka, phone %. Mrs
Charles Endlich, 40 Lincoln way ats
South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-08-06

WANTED--loung lady stenographe-:
also for Office work Steady employ
ment. Peoples Store 81 >. Michigan 81
New-York tribune., 1919-05-01
Will Investigate
E'Fake'' Curb Stocks
District Attorney Plans Crusade
Against Fraudulent Oil
iSSIles

Asserting that millions Of dollars of
worthless oil stocks had been sold on
the New York "Curb" Market since
January I, Assistant District Attorney
Waugh announced yesterday that he
would begin an investigation to prose
cute "wildcat" brokers who have been
swindling New Workers through SELL
ing worthless securities, chiefly oil
stocks.
"!t Is intended to enlist the coopera-
tion Of the legitimate brokers'" Mr..
Waugh said, "in a movement to get
rules adopted for the curb which will
make it impossible for wildcat brok-
ers to come in overnight and sell fake
stocks"
Hundreds of persons Of this city
have bought stock in oil companies
that never existed, according to Mr..
Waugh, or have bought shares in oil
wells that never produced oil. Mr..
Waugh said that boom in South
western oil fields, during the last six
months has been used advantageously
by unscrupulous brokers.
"Under tho present system covering
curb selling, any one offering, stocks
Waugh said. "Peoplo who rs'i are Inclined ne I
to take flyers on the curb mar
ket read the Hstings and put their
money into oil stocks. After these
brokers had made killing they van
ished."
Mr.. Waugh explained that stocks
which later turned out to be shares
Of fake concerns were listed among
the Curb" securities. Brokers who
were not known to the legitimate brok-
ers, he said, appeared on the "curb"
soon after the first of this year and
offered stock for sale.
Mr.. Waugh pointed to the case of
former convict who came to New
York from the West. This man opened
up as a "curb' broker, and stopped
at one Of the large hotels, selling
100000 worth of stocks.
New-York tribune., 1919-05-01
A Railroad for Desdemona
Frisco" TO Construct Branch
Line TO Oil Field
Fesaas,cta1 Bureaw
Specfni Cor~eeno,,Jc.,,n

Ftsadncfdl Bureau
Special Correspondence
STEPHENvILLE. Tex, April 2o.--In
order to give the Desdemona oil field
a railroad transportation outlet the
Frisco is preparing TO construct a
branch line Of It's Fort Worth g. Rio
Grande division from Stephenvlle to
Ranger. where it will connect with the
Texas g. Pacific The survey for the
proposed road is already being made
and right Of way obtained. The line
will be thirty miles long. A party Of
Frinco officials. including p. J. Neff,
chief engineer; j. s. Pyeatts, Federal
manager, and Alex Hilton, Federal
traffic director, visited Stephenville a
few days ago on business contacted
with the building Of the new line. They
gave assurance that it would be built
without delay. An enormous amount
Of freight traffic awaits the construc-
tion of the road to Desdemona. Oil
operators are so anxious to got their
drilling outfits and other supplies upon
the ground thta thoy are paying fabu-
lous prleaa to have the hauling done
overland from German TO Doadonlona.
Although II is only an eight-piles trip
ths. wagon sud truck haulors charge as
hAaA a ~ = lsaA
New-York tribune., 1919-05-01
City Bank Warns
Against Further
Price Initiation
Sees Danger Of Advance in
Commodities if Gold I'M
ports Increase; Advo.
Gates Credit Extension

The National City Bank. in its
monthly circular, states that it does
not regard the present high price level
as permanent, but expects a slow and
gradual reduction. It sees, however
the possibility of still further imitation
OF prices through gold importations, and
warns against it. The bank also does
not believe that private purchases of
European securities would be ADEQUATE
for the present foreign trade emer-
gency, and advocates further govern
ment extensions Of credit. It saws in
part:
Sooner or later these Europeanl
people will be producing for the mar
ket, and when they do the prices of
many goods will fall When Europe
tecomes more nearly self-supporting in
food stuffs, agricultural products will
come down, and since the cost of these
end other necessaries are the basis Of
all industrial costs the effects will be
widespread. Making full allowance
for all other influences which will tend
to maintain high costs, we do not be-
4ioSo ti!uV AdIiu prOUuCIS VIII stay at
war prices permanently, or that all
other prices will stay up when farm
products have declined.
with more than our normal share
Of the worlds gold, the tendency must
be, when its influence comes into play,
to have higher price level than other
countries, thus promoting imports and
making exports more difficult. The
trade position Of the country would be
improved by getting rid of some Of the
gold now in our possession, and having
a gradual and uniform reduction of
costs and prices.
"The credit convulsions which have
followed upon war periods of eXpan-
sion have not come at the close of the
wars, but after the credit created dur
ing the war had been diverted to peace
time speculation.
''The action Of Congress in author
izing the War Finance Corporation to
advance credit or money to the extent
of one billion dollars to promote for
eign trade is largely ineffective, be-
cause it requires the credits to be first
granted by American exporters or
bankers, who must carry the risk until
the credit is finally hquidated In
dividuals will not take these risks
with which they are unacquainted in
amounts that will accomplish the pur-
pose in view. If, however, foreign gov
ernments with the aid of the United
States government will establish these
international credits the business can
be done, and the benefits on the whole,
both there and here, will Justify the
governmental aid"