davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

ing materials will be sustained for
another year by the scarcity in
Europe. This Will have 4 strong
effect in supporting wages, but it
is also evident that a determined
effort will be made TO support
wages. not only in the United States
but abroad IN the month Of De
cember, just closed, with the war
ended. an eight-hour day has been
granted to all railway employees in
Great Britain by the government.
the understanding being not that
the men will work only eight hours
daily, but that after eight hours
overtime will be granted at the
rate of time and . quarter
1t IS perfectly true that this jack
ing up of wages by governmental au-
thority, and cutting down Of hours.
is in itself no panacea for indus
trial depression. IN itself it would
mean less labor, lower production.
higher taxes, higher costs and
harder times. But the government
of England is backed by public sen
timent IN an effort TO create a new
situation in industry. An attempt
is to be made to create bet
ter feeling between capital and
labor. The Lloyd George ministry
is proposing 4 great constructive
programme One feature is to pro
vide improved housing conditions
for the people, doing away with the
unsanltary tenements and Sums.
The health of the people is to be
made the first care of the state.
The hope is to get industry out of
the old ruts, and by the use Of
modern machinery and educational
policies secure the cooperation Of
the wage earners in increasing pro
duction to such an extent that the
wages may be made permanently
higher than in the past
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
Hoo Shalt
The titles Pay?

This new situation presents
very interesting problem, to wit:
How will we receive the annual IN
come from these holdings? 1t is
apparent that we cannot receive it
in gold, for, in the first place, that
amount Of gold cannot be found:
and, in the second place, We would
not want any part Of II. 1t is q
grave question whether our present
gold holdings, together with the
credit facilities Of our numerous
banks and the Federal Reserve Sys-
TEN, will not establish a level Of
prices so far above that Of the rest
Of the world that we will be at
disadvantage in our export trade.
At any rate, we do not want any
more gold. But the ordinary alter
native to gold is goods, and it is
easy to predict that there will be
vigorous protest against hav-
ing a heavy merchandise balance
against US. The newly elected Con-
cresS is Republican, and presumably
viii want to revise the tariff upward
# it makes any changes at all Our
commercial organizations are all
advocating active efforts TO enlarge
our export trade. Heretofore our
commerce has been mainly carried
in foreign ships, and the charges for
this service have been an important
item against US in the international
accounts, but we are building a
great feet Of merchant ships to
save these charges and promote our
export trade.
Before the war the annual bal
ance in our favor on merchandise
account was approximately $780,
100000 a year, but this was prac-
tically offset by interest and divi-
dends payable abroad, shipping
charges, tourists disbursements, etc.
Now, with the heavy interest pay
ments running to us, bow is the ac-
count to be balanced?
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

lngs in this country were IS much
as s2,ooo.ooo,ooo These figures
would seem TO indicate that the
total of foreign holdings here was
as much as the larger figure named.
Whatever they have been there is
reason to believe that most Of them
have been sold, and it is certain
that our holdings of foreign obliga-
tions and properties are from s10,~
o0o,00o.0oo to $4,000 100000
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
Our Jrade and
financial Relations

Oac Of the most extraordinary
results u The var has been The
cAange u 'shis country from z
cebtor 70 Il creditor III world rcla.
tions. Before the war the amount
u our Obligations and Of Ownership
~ American properties held abroad
~as usually estimated at $1,000,
100000 70 sG,oo0,ooo.o0 Tho
c1xtodian Of Alien Enemy Proper
" IA. taken possession u about
800, 900, 900 worth If properly ~
German Ownership, and has est
mated that the totai German hold
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
An English Iier OF
The Labor Problem

In his campaign statement LlOyC
George set forth his theories in tw,
paragraphs as follows
You cannot have improved wages
and improved conditions Of labor
oil round unless you manage to in
crease productions The war has
demonstrated that this can be done
by improved organization | had q
good deal OF experience of it. at the
Ministry Of Munitions, where it was
my duty to see that the output Of
the engineering shops was increased,
in spite Of the fact that there was
less labor available for the purpose.
owing TO the numbers Of young men
who had at the beginning of the
recruiting campaign gone to the
front. BY improved organizations, by
stopping waste, by improved ma
chinery. by the suspension Of the old
restrictions on output. the output %
the engineering shops was increased
enormously The men and women
had much better wages than they
had ever been paid, and the state
benefited The experience of the
muniton shops has been the expa-
rience almost all around. In spite OF
the fact that over 100000 Of youne
m-n nave been drawn into the army
and navy. the output over the whole
field Of industry has been increased.
Now We have got millions back.
Thee are gigantic arrears to make
UP in this country in every depart
ment q manufacture
There is ono condition Tor the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

they were Of an industrial charac-
ter, would be bought in England,
by converting the balances due Us
there.
1t viii be seen that the part Of a
creditor nation is not so simple or
onc-sided IN advantages as at first
may be thought. The natural laws
of trade have remarkable facility
in bringing world affairs into bal
ance.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

ing and absorbing all smaller vel
fares. all individual interests, all
claims Of personal advantage or Sc
curity. The supreme sacrifice OF
life is imposed unhesitatingly. There
remains little or nothing of the pc
litical theory that controls in peace.
New occasions teach new duties
together with an entirely novel rec
IGNITION Of the old. Time takes new
measures of US and fits us out in new
liveries Of service.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
Danger Of
ENdggeTufiOH

In the home field a period OF re-
taxation is TO be expected while
the industrial read ustment is going
OF. There is a tendency to cxag-
gcrate the perils of reorganization
and there is some danger in the ex-
aggeration. The men who have
entered the army Will almost inva-
rIably find their cid places waiting
for them when they return. The
men and women who have taken
their places will have to be replaced
in many instances, but that shift
Will take place gradually The labor
in the war industries will have to
be rcdistributed, and this is already
being rapidly accomplished without
as yet much difficulty The country
is short Of labor all over at this
time. 1t must be remembered that
for four years we haveshad almost
no immigration, and that We lost
many laborers by THEN" return to
Europe at the outbreak Of the war.
Furthermore, as soon as passage is
available, thousands of our foreign
born residents are intending to re
turn to their old homes IN. Europe
to look up the fate of relatives in
the countries which have been at
war This is especially true Of i'm
migrants from Eastern aud South
eastern Europe, and the movements
will be large enough to have am
effect upon the labor supply.
In the past it was always consid-
cred that when this country had a
good crop and market conditions
were such as to afford good prices
to the farmers there was an assur-
ance Of good business in all lines.
The farmers are still by far the
largest single class in the popula-
ton, and they are enjoying a de-
gree of prosperity never known be
fore, both North and South. Their
buying power viii be great factor
IN the situation for the coming
year. The sections which are
directly related to the agricultural
districts will have prosperity, and
their prosperity Will be reflected to
the others.
1t is quite certain that there is
to be no precipitate decline of gen
eral prices or Of wages to the level
OF before the war. In the first
place, the prices Of food and cloth
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

chandise account and interest ac-
count the demands in foreign finan-
clal centres for exchange on New
York will DC so continuous and in
slstent that they Will tend to put
1t at q premium. We have seen that
during the war. when exchange on
New y orl0 has been at a premium in
all the Allied countries, and in
some of them at Il rate which was
practically prohibitivc upon pur-
chases in this market, rates were
held down in London and PARIS only
by continuous and heavy lending on
our part.
In short, the most important fac
Tor in our foreign trade situation is
going to be the difficulty which our
customers will have in finding the
means Of payment. 1t has nothing
to do with their solvency. 1t is
simply the question Of how buyer
in France, Italy, Australia, South
America, or anywhere can obtain q
draft on New York.
There is only one way IN which
the situation can be met, and that
is by our converting our foreign
balances into foreign investments,
or, in other words, by our buying
foreign securities, just as England
for a long time has been continu-
ously increasing her holdings Of
foreign securities.
If our people arc ready to do
this we can have any amount of
foreign business, but if they are
not prompt to do it exchange rates
viii rise against 'us, penalizing our
exports until they are reduced to
the point where the payments in
and out Offset each other
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
American Inresfmeuf
In Other Countries

The question is, are our people
sufficiently educated upon this sub
ject, have they the international
view sufficiently developed to cause
them to come forward promptly
and take the foreign offerings fast
enough to sustain the exchange sit
uation?
These investments may take vart-
Gus forms. If money is easy in this
country, and particularly if London
exchange is at a discount in New
York, American investors may buy
listed stocks and bonds on the Lon
don market. possibly shares in Brit
ish companies operating in South
American or other parts of the
world, or American investors may
organize companies of their own
for operation in South America.
China or elsewhere, and pay in
their capital by buying exchange on
London. IL such cases the equip-
ment of the new enterprises, if
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
Nlneteen-Nineteen-A Year in Prospective

success Of all efforts 10 increase the
output Of this country-conadence.
Bolshevism IS the poison o. prcduc-
tion-Russia proves that. Russia
VIII not begin building I'D q pro
ductiYe system until Bolshevism has
worked itself ou5 Meanwhile there
VIII be great suffering and penurv
throughout the land. ana all classes
will suffer aiik You must give coz
ndence % all classes. confidence %
nose who nave brains. 10 those who
ave capital and to those with
hearts and hands 70 work. say to
labor. YOU shall have Justice: YOU
shall havo fair treatment. fair
share Of the amenities Of life. and
your children shall have equal or
portunlties with the children OF the
rich. To capital say: You shall not
be pluTdered or penalzed; do your
duty by those who work for you. and
ne future is free for all the enter
Prise or aadacity you can give us
But there must be an equal Justice.
Labor must have happiness in its
heart Wen pat up with no sweat
ing. Labor IS to have its Just re
Ward. And when the whole nation
sees that wealth lies in production.
that production can be enormously
increased, with higher wages and
shorter hours, and when the classes
feel confidence in each other and
trust each other there viii be
abundance to requite the toll and to
gladden. the hearts of all. We can
change the whole face of existence.
There can be no question that tn.
propositions laid down by Lloyd
George are sound The gains o
production in war time have show
that an enormous increase Of out
put IS possible permanently, and /
1t IS realized higher wages thar
have ever been known can be paid
Any accomplishment Of that sor
IN England will have a speedy effec
upon the situation here. both il
stimulating effort and in SUSTAINING
wages.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
Predonsinance Of
The Group Interest

With a general acquiescence IN
the CONSUMPTION Of life there goes
partial CONSUMPTION of income. We
push the income tax to 10. or even
80 or 80 per cent; the profit taxes
90 still higher The group interest
tends to become paramount and even
exclusive. It's logic transcends all
limits. The philosophy OF individual
ism is fouted. The normal respect
for it returns only with the reestab-
hshment of peace. But it never re
turns in all its earlier vigor The
discipline and the habits of thought
of war last over into peace The
state bulks larger Not merely arc
public activities more centralized,
but they are widened Government
is stronger; more is intrusted to Il;
it acts with more vigor.
Whatever, then. may be the exist
ing type, war viii fortify tiff, Of
course, it be successful war. Thus
there remains now no anti-repubI-
can party in France. KING George
s tirmer than ever on his throne.
Had Germany and Austria been vic
torious, imperialism would have
gained a new lease Of life. Il is
only in this sense that concur in
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

legacy from war our trend viii h..
socialistic.
/ believe this movement likely a.
begin early and to 20 fast and Ear
IA England. and. on the Whole. IN
safe directions. Radicalism is let
ter organized and under wiser lead
ership there than with us. / regarc
the movement in France and amer
lea as promising less for either good
or li- J go. indeed. further: be.
leNe that most Of what France and
America are likely to get in the i'm
mediate future IN The way Of instia,
tional change viii be rather evil
than good. This war for democracy
VIII uot-until after cons. derab.o
term OF years. at any rate mako
for the best aspects Of Gcmocracv
either IN France or ia America.
But the most seriously disturbing
factor among the world nt.aa .ces
the probable trend Of things In Rus
sia and in the Central countries
Especially in Russia is democracv'
likely 10 render a poor account OF
Itself and to terify other people
into a temporary but extreme iii
beralism. We shall be frightened
by what for US is mainly 4 boeee
Forgetting that popular government
IS only for the peoples that car
make it work FIT only for the pee.
pies that are fit for it The failure
Of 1t whore it does not belong we
shall interpret as casting discredif
or suspicion on it where it does be
long It is probably the worst Of
all governments, in essential DANCE.
Of being no government at all. bu,
mere license, disorder revolution,
and counter-revolution, in the de
gree that any people fails Of meet
ing is requirements. A nopulace
incapable Of understanding its own
needs, but attempting TO rule for is
essential interests, is almost certain
10 blunder unto lis own I'm. j.
would better rely on suc1 incidental
welfare as can befall it from an in.
telhgent and efficient government,
run primarily in another interest
The present cult Of democracy is
indiscriminating.
look, then, rather for conserva-
tism than for radicalism IS our
guiding motive in the earlier period
Of cur experimenting with wider
government activities. Disclaimine
any implication Of either approval o.,
disapproval, take it that the nexl
five or ten years will be "reactior
AIRY il conservation ac.
curing strength, protectionist poll.
cies victorious. national shipping
programme adopted consumption.
taxes Increasingly q fiscal reliance.
| should look 70 see this policy LEAD
ilnally u 50 unwise extremes as to-
be followed, say ten years later, by
strong wave Of radicalism. The
a1ses Fl Republican victory at the
-,ext elections are. for example. rap
.-'y getting brighter The turn Of
me Populists or of some smaller
group ri radicsl reconstructionists
nay arrive eight or ten years later
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

" t. A oa:io 7s'" "a. .. s'.os s..
beyond the ordinary.
History indicates that wars tend
TO centralize and TO extend the iuris-
diction and the activities Of govern
ment. Necessities arise that can be
met in no other way. It is disci-
plino CT fact. Public safety real
y becomes ultimate law In peace
times we do lip service to the same
principle. but always with important
mental reservations about the sane
tity Ct Individual rights-the IN
alienable and inv:olable interests OF
personal secur.ts. persona, liberty
and private PROPERTY Nee. ding u
our neace-t time thinking. ~7vern
ment exists a. 2larl an ess~ar.a4
f these peace-tirae principles Is
he means; they are ne ends.
But rao .naxorab!e requirement..
# war impose q thorougAgoing ae-
-eptance Of the larger view; no H.
iividual has any rights excepting
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
america Stronger
Than Erer Before

The United States has spent upon
Ene war an amount which in terms
of money seems fabulous, but it has
not weakened its powers or reduced
sts resources. 1t is stronger and
more capable in the means o9 pro
duction, richer and moro influential
g. world relations than before. We
owe nothing abroad as a result Of
the war, but, on the contrary, have
paid off billions which We owed
formerly and have billions coming
60 Us. Our productive capacity in
many important lines has been in
creased. Our steel making capacity
il equal to that Of all the rest Of
the world put together, and we are
leaders in the manufacture OF most
kinds Of labor saving machinery.
While we would not have had the
war prolonged to display our indus
trial proves, those who know that
our powers were Just coming into
action cannot conceal their regret
that there could not be a demonstra-
Zion Of the pace our war production
would have reached a few months
later
There will be moro satisfaction,
however, in making the demonstra-
zion in the production Of goods
which will minister to the comfort
and welfare Of humanity. Sixty-one
beet sugar factories were in opera
ton in the United States in the fall
O. 1914, and approximately 100 at
this time, an increase of about so
yer cent. The increase in sugar
producing capacity in the countries
from which the United States re
seives its supply has been 20 to 33
per cent. The development Of the
farm tractor which has been great
~ stimulated by the war, is destined
20 be an important factor in the
food supply. The development of
potash production in this country
and the general expansion Of min
eral production are matters of per
manent consequence, az are the
establishment Of the dye industry
end other lines Of manufacture new
to us. These instances only illus
trate the expansion Of productive
capacity which nas taken place dur
5ne the war.
It - true that temporarily there
has been diversion Of industrial
capacity to work that left no per
znanent results, but this expenditure
upon the war has been in large
degree met, extraordinary as this
naay seem, by the speeding up Of
Industry and the enlargement Of ca
pacity although there has been a
failure to make normal progress II,
lorre Nreo
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

ASSISTANT 20 nc PrfS.dent me y a.
tioral City Ban, Of Nesr York,
ThE people of this country
~hould greet the new year
with glad hearts, great conf
dence and intelligent resolution to
make it the beginning of new era
OF prosperity and social betterment.
We are glad first Of all because the
war IS ended in complete victory
Cor the IDEAS which this country en-
tered it 70 uphold, the bloodshed has
ceased, our sons viii soon be home
Again, and we may resume the arts
of peace Surely this is enough to
make 1919 joyous year in The
United States, although in thou
eands Of homes there is grief for
Che boys who Will not come back.
They are the one great loss to which
81 is difficult 10 be reconeilcd, be
cause whatever gains may be recls-
oned II the results are for others;
those who have paid the supreme
price have gone beyond earthly rec
ompense But the progress of the
worId has been won always by such
eacrifces.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
The Problem Of
Foreign Exchange

This is no mere abstract question.
It is a real problem of great prac-
teal Importance. If there arc bal
ances in our favor both on mer-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
Back to Business
AS Usual
By H. J. Davenport

Professor OF Economics IN Cornell
lnirerslty
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

- This chart h'"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

stool Hed til New o4s
o month Jmusy.1
december slump railroads.&c.
b h p lNN
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01

" E ARE promptly going back,
to business az usual-ever
beyond the ordinary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-01
The Dawn of a
New Era
By George I. Rob erts

assistant to he Pres ident The Ma
tioral City Boni- Of Nelr York
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-08-04
MIXED DOUBLE FINALS
Willis E. Davis Won Singles Title in
Western Championships.

Kansas City, Aug. 4.-The mixed
doubles title of the western champion
ship tennis tournament will be at
stake this afternoon when Miss Mary
Katherine Voorhees, of Evanston Ill,
and H. Van Dyke Johns of Berkeley,
Cal, meet the winners of the semi
finals on Rockhill court.
In the semi-fina1 round this morn
ing. Mrs. Ralph Peer of Kansas City
and Charles Speice of Kingfisher,
Okla, will clash with Miss Corrine
Gould and Theodore Drewes, both
of ST. Louis, for the right to compete
in the finals.
In a match teeming with spectacu-
lar shots and where interest reigned
supreme Willis E. Davis, sensational
comet" from San Francisco, one of
the two players sent here by the Ma
tional Lawn Tennis association presi-
dent, snatched away the singles title
in the western championships at
Rockhill, Saturday from Ralph Bur-
dick, the Chicago driver, in five sets,
1913, 4-6, So. rs, 60.
The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-08-04
AGGIE GRID PROSPECTS GOOD.
Fifteen Letter Men Expected Back
NJ V. Football to Revive.

Manhattan. Aug. 4.-The Kansas
state Agricultural college expects to
have fifteen letter men back on the
football team the coming year and the
dope is that it will be one of the best
teams that the college has ever put
out. Owing to the fact that the army
has given back the men to the coll
leges there will be strong teams all
over the Missouri valley this year.
The letter men who are counted on
to be the backbone of the team this
year are ike" GatZ, captain: Joe
Bogue, Carl Roda. Cliff Gallagher.
George Hines, E. r. Cowell, Dewey
Huston and Leo Ptacek. Three Man
haitian boys are on the team. Hob
Fairman, Joe Rogue and Dewey Hus-
ton.
The schedule Is as follows:
September 2T-Baker. at Manhattan.
October Army, at Manhattan.
October 1-University of Missouri, at
Manhattan.
October Washington university, at
St Louis.
October 25-Hays Normal, at Manhattan
November kansas university at Law
renee.
November s-Hasken Indians, at Man
haitian.
November 15-Ames. at Ames.
November 23-Oklahoma university, at
Manhattan.