davidaulloa/AmericanStories huggingface dataset:
Palatka daily news. [volume] (Palatka, Fla.) 1919-1994, 1919-11-20

attitude abroad is wretched than it is at
home. By the performances of the treaty we
far beyond procamng dstrust of former friends and
unwilngness to share with them the burdens which
partly by leadership have been forced upon them We
confess lack of faith in ourselves We who never fal-
tered in battle shrink meany from the consequences of
victory. We who saked all upon cause notify the
world to-day that have neither men nor money nor
time countenance for that except as in par
Ocular case we may be moved to act
In reactionary Germany there is hope and in En,-
land France and Italy and many small nations not YET
of deverance there is fear that the United States
Senate had killed the League of Nations Has that been
The purpose of Senator Lodge and his followers all along
When the Republican leader Of the Senate was asked
Saturday if he thought the treaty interpreted and
ended would be rejected he answered in the affirmative
Then the treaty is dead?" the rejonder, to which
lis reply was, "Undoubtedly'
If that be true, something besides the treaty has per-
ished in the United States something important
than the treaty We have lost courage confidence
and resources have made the Declaration of ndepend
parochia instead of universal, and have with
drawn selfshy and afraid from complications that
be settled without help. To have fought cost
iy to victorious end only to away in panic from
he problems of peace not like the United States but
thanks to partysm and cowardce in the Senate, that is
the record it stands.
Palatka daily news. [volume] (Palatka, Fla.) 1919-1994, 1919-11-20
EXHIBIT OFF TO FAIR.
County Agent Cantrell Has Gone to
Put 1t In Place.

There will be no delay in getting
Putnam county's exhibit in place at
the fair this year. The exhibit went
forward yesterday morning and was
Palatka daily news. [volume] (Palatka, Fla.) 1919-1994, 1919-11-20

About the most appropriate thing we've an
nounced by the state fair officials is free feed to the
editors. Now if they'll make drive for something to
for the slaves of the press the thing will probably
be a success. / .'.I
Palatka daily news. [volume] (Palatka, Fla.) 1919-1994, 1919-11-20

Naming of the local post of the American Legion
after Eert Hodge is to mind very appropos action
the part of the young who wish to perpeuate the
memory of of their number who made the supreme
sacrifc.
Palatka daily news. [volume] (Palatka, Fla.) 1919-1994, 1919-11-20

followed last night by County Agent
Cantrell and State Agent McQuarrie,
Ct Gainesville, who will assist in it's
installation.
Mr.. Cantrell has gathered togeth-
e. a particularly fine exhibit this year
and at the last moment secured a
small exhibit of citrus fruit. He
hopes to have this increased by to-
morrow.
Palatka daily news. [volume] (Palatka, Fla.) 1919-1994, 1919-11-20

Gilbert Leach is getting out twenty pages of his
crack paper, "The Leesburg Commercial, every week.
The people in that hustling community have long since
discovered the value of ink and white paper.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
Personal Service
Corporations

In the imposition Of the war excess
profits tax, Congress has distinguished
between the corporation whose incoms
IS derived from business in which In
vested capital is employed and per-
sonal service corporations whose H.
come is the direct result of the sctis'
tiles of the individual stockholders.
In the case OF the latter class of cor.
porations. Congress has provided that
they will be taxed in the same manner
as partnerships. This method OF IS
sessment was devised by the Jens"
Committee for the purpose of eliminsi'
ing the difficulty which the depart
ment has experienced in imposing .
war excess profits tax on corpors'
ton, the invested capital Of which "
very small, and if computed in the
ordinary way would make the tax exc
cessive. This tax will reach close cor
porations, the earnings of which sFs
the result of the services of the stoeS'
holders. and if allowed to Accumulate
would merely relieve such stockholdenl
from surtax on sheir remuneration io'
personal services.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
New Platinum Fields
Opened i'm Colombia

Nfeat things are expected in the
future of the Choco district of Colom-
bla, which next to the Ural district. in
Russia, contains the worlds richest
deposit of platinum.
At recent meeting of stockholders
OF British gold and platinum corpor-
alton held in London the chairman in
reviewing the world situation in the
platinum market said:
Some time previous to the war 80
per cent of the worlds output of plat
mum was produced in Russia, the later
falling off, which was very marked
even before the war, being due to the
exhaustion OF the best known areas in
the Urals. We find that in 1911 the
Russian production was 100000 troy
ounces. In 1912 it had diminished to
1So,3Sl ounces, in 1913 to 1852
ounces and in 1914 to 156,775 ounces.
IN 1915 the Russian output fell to 1O7.-
If4 ounces and in 1915 to 1854 ounces,
but no doubt the decline since 1914 has
been as much due to the dislocation
caused by the war as to the exhaustion
OF the deposits. However, due atten-
ton must be paid to the fact that Mr.
dc Hautpick, an authority OF the Rus
sian imperial government, some wears
back predicted the exhaustion of the
urals within q period of thirty or
forty years, and it is fact that gray
els which were left as unpayable in
former years have now been treated.
the increase in the price of the metal
having made the treatment of these
gravels profitable.
"In the case of the Choco district of
Colombia we have virgin ground, with
steadily increasing, instead of dimin.
lshlng, production of platinum, the out
put having been 10000 ounces in 1911
$4,000 ounces in 1912, $4,000 ounces in
1913, $500 ounces in 1914, $4,000 ounces
iii 1915, $4,000 ounces in 1915. and
understand that in 1917 it went up to
some $4,000 troy ounces, showing
gradual increase since 1911, which has
now reached 800 per cent, and this be
it remembers eliminating the pro-
duction of one dredge-with verv crude
appliances indeed.
Careful survey and prospecting car
ried out by British and American
engineers have proved the existence
or platinum and gold in payable ouan-
tues over many square miles of terri
TORY. Inc natives have gathered rich
harvcsts by their simple and crude
methods OF washing tho gravels in
pans or bateas. In order to ret At the
bedrock, however where tho platinum
and gold In the gravcls have naturally
gravitated, 1T is necessary to use mod.
rrh ana up to date machinery and To
deal with the gravels on a commercial
scale; and there can be no nessihlc
doubt that working on n large scale
with such modern machinery the Yields
VIII be commensurate. The Colombian
fields are really only i'll their infancy"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12

IN THE new internationalism which
burns d vivid picture in the mag
iuation OF Frank A. Vanderlip,
president of the National City Bank,
the brotherhood OF banks becomes a
dominant factor. In his view the world
Will become more closely knit, not
merely by the pous hopes of Intellectual
dreamers, but by the internationaliza-
ton of economic forces which now
seem ready more completely to burst
their national bonds. And so the Ma
tional City Bank is going ahead, es-
tabishing great branch banks in every
accessible part of the world, executing
their leaders vision of a highly sys
tomatized, yet warmly human, machin-
cry of world service.
BY successive bold strokes the
world has been drawn infinitely closer
together in the last few centuries. The
steamboat, the locomotive, the airplane,
the telegraph, the telephone, the radio
these are among the familiar instru-
mcnts which tore down what were con-
sidered insuperable barriers of space
The mingling of men battling for COM
mon humane purposes in the war con-
tinued in way hardly yet understood
through the process of destroying the
walls between men of different nations.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
Why Service
Pays Big Returns

lhls conception obviously has little
relation to the traditional notion of
banking. But it is clearly service. Go
ahead and render service and the fnan
cal returns will take care of them
selves-that is the Vanderlip formula.
Most commercial people wonder how
they can make money, and then devise
I activities to attain that end. "That
procedure, the banker said with an
earnestness that indicated he was ex-
pounding one of his pet ideas, "cntails
starting at the wrong end"
Of course. the City Bank and the
international Banking Corporations
branches are to concentrate on the
purely banking side. The care Of trav-
ellers and the information service are
merely to be -products-but it will
be the by-products largely which will
make the Institutions unprecedcntcd in
their activity
In form, the foreign banking houses
of the National City Bank are Amer
lcan branch banks abroad by virtue
OF their authorization under the Fed
eral Reserve Act. Moreover, they are
full functional local banks" by rea-
son of authorization under the Fed
eral law of the United States. They
take deposits, extend loans and dis
count, and also conduct foreign ex-
change operations.
1t is commonplace among students
or foreign trade that the lack of Amer
lean banks in the foreign field that
could extend credit handicapped our
exporters in competition with those Of
other countries. The development of
American banks in foreign countries is
going to help remove that disadvan
tage, but Mr.. Vandcrlip thinks that the
tendency will be away from extreme
ly long credit such as the German and
British banks extended before the war.
The banks" he said, "will finance the
export trade as the goods passes from
producer to consumer, but tie foreign
commerce over a long period of wears
Will have 70 be financed in a large
measure by the Anne rican investor. who
Will have to be educated up to the
opportunities for placing capital
abroad"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
Making 1t Easy
For the Traveller

The personal interest in customers
VIII be manifested. according to Mr..
Nanderlip's plans, in guiding American
commercial travellers abroad, arrane-
ing tours through factories, introduce
ing them to industrial leaders in the
foreign field and suggesting modes Of
travel. This phase of the work of the
foreign banks is the newest, and is
just now being organized.
In discussing his plans for the crea-
ton of travellers bureaus Mr.. Wander
lip said: 81 would emphasize some Of
the great changes that have come in
the United States since we opened our
first foreign branches, in 1914. The de-
velopment of nationwide interest in
foreign trade that has come with great
rapidity since our entrance into the war
has been most pronounced. Almost
every manufacturer making a product
that is exportable is beginning to turn
interested eyes in the direction Of for
eign markets. The wider national out
look IS indicated in innumerable WAYS
and the desire for international in
formation is met with on every hand
Moreover, the people Of the United
States have practically been prisoners
ON this continent for four years. All
general foreign travel has been sus-
pended, and for the last year any for
eign errand not directly connected with
military operations has been most diff
cult. This interval, in which there has
been practically no travel, has, be-
lieve, only repressed the desire for it,
and with the opening Of free commune
cations and the quickcncd national in
tercst in foreign conditions it seems
reasonable to anticipate that there will
DC volume of foreign travel never be-
tore approached. 1t is likely, however,
IN large measure, to be made up Of
travellers with more serious purpose
/ than our oldtime crowd Of summer
foIristc
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
New York the Centre
OF a Worldwide Web

The linking up of the whole world
by chain of service banks, in the
mind of Mr.. Vanderlip, constitutes a
timely, logical step in the development
of friendly intercourse among nations.
The branch banks are not only to con-
meet foreign countries with New York,
although that is primary function,
but also to serve as a link between
merchants in, say, Valparaiso. Chile,
and Genoa, Italy The network Of
banks, all working toward the same
end, will form channel of commune
cation with New York for every coun-
try, and eventually between any two
foreign nations.
The projected plan Of an entirely
new scheme of branch banks-which
has already resulted in the placing of
fortynine institutions in twenty-five
countres-is an effort to create ma
chinery to help America play the part
that so many of her sons believe she
IS now destined to play as a power
squatted in the midst of the whole
world. The adventure in banking is
consciously associated with specific
plans for the expansion of the forign
trade of the country
Not merely money lending institu-
tons, but great engines of service, the
branches of the National City Bank
must be, if the ideas of its president
are transmitted into actual practice.
Mr. Nanderlip's programme, which is
fact being carried into action, would
make the banks links between the
buyer of goods overseas and the seller
IN the United Statest, and vice versa,
and the personal friend Of American
travellers abroad and of foreigners
who come 10 journey in the States. He
would have them render a hundred
little services - such as suggesting
hotels and convenient trains-which
never could be directly paid for.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
Expects to Use
Army Officers

The present plan Of the bank is to
establish fifty foreign branches and be-
sides fifty agencies-and in each of
these one hundred institutions will be
bureau devoted to international trade
service.
In launching these new enterprises
tho greatest difficulty seems to be in
getting enthusiastic, capable men who
are trained in banking and willing to
enter foreign fields. Mr. Vandcrlip said
that the returning army officers were
an excellent source of material and
that the bank had engaged several Of
them already, and prepared to take
on many more.
Precisely what type of man arc you
looking for?" was asked.
1--WE want for this work" the banker
replied, without hcsitating an instance,
men with personality, men who have
force, men with go in them, who IRE
prepared to work and work intelligent
ly, who have some background of ex-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12

head of an agency or branch can rem
der to the natives will be extremely
important"
AS Mr.. Vanderlip developed this ar
gument the sense Of brotherhood of
banks became more vivid.
"The system Of banks is going to re-
semble, roughly, telephone exchange"
the banker explained. at is not going
to be simply a series of connections
running in from many points of the
world to New York. If a merchant in
Milan wants to know something about
conditions in Buenos Ayres, who will be
in better position to give him that in
formation, to facilitate his contact with
the commerce he seeks, than the City
Banks branch in Buenos Ayres? SO
you can picture a whole net of relation
ships that run not only from the home
bank to the branch and back again, but
from each branch to every other
branch. The analogy of the telephone
IS somewhat faulty. as in the banking
system two branch banks can communi-
cate with each other without asking the
central Office to connect them. There
is now no institution that can furnish
such comprehensive service"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12

are absorbed through banking methods
hese great export demands will on
lar to mitigate any temporary tendon
cles toward unemployment durino. tbe
period that the new industries are pet-
'lng under way. America will he oet
ting richer, but richer in terms of in
creased securities rather than in com
hahd OF current products. Mr.. Hoover
IS right in his prophecy of SHORTAGE
we snail have to wait for the goods
with which finally the debts will get
discharged. We shall then still be on
exporting nation
These exports to Europe. furnished
as part Of an international nro.
erammc by government initiative. OUGHT
70 be financed by taXes-the right 10 70
payment held as Treasury asset. But
there is slight prospect of this. Taxa
ton directly for government account
according to plain, simple and inte]li-
g'oie methods, the public does not want
PEOPLE fancy that there is some wav of
escaping burden that is certain
They greatly prefer to be taxed bv in
hatlon not understanding it, Business
interests also favor it, so we shall oni+a
certainly get further instalmcnt of Il
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
By II. ]. Davenport
Professor of Economics an cornell
CniUcysitY

CniUcySiV
HAVE already indicated that the
A process OF economic reconstruction
IN America during the next six
months or year is not likely to be
complicated by any seriously marked
and general price movements in either
olrection; that money will remain
1alrly stable in general purchasing
power, the prospect being. however. for
slight fall in prices rather than for
an advance; that profits are in no i'm
mediate prospect of serious reduction
this last because wages will probably
recede on the whole rather than rise.
that net profits, after taxes have boen
deducted, will probably rather eoin
Than lose; that the long time influence
OF national and international monetary
and banking policies will hardly have
made themselves felt within the term
OF year; that the Immediately serious
problems refer to the difficulties of the
redistribution of industrial activity and
TO probable conflicts of labor under con.
dltlons requiring not only the redis-
tributlon of the labor employed at pres-
ent, but also the absorption of three
and half millions Of men returning
from the camps and the armies
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
Good Times Ahead
For the Farmer

Nothing, then, profoundly DISTURBING
or strikingly novel is to occur dur;n .
TINS transitional Process, with slightly
rising rates of interest as the pressure
Tor banking accommodations increases
The probability of an upward move
ment in the stock exchanges ia mt
great. There should, however, be an &C.
i've speculation in the widespread re-
adjustment of security values. Monev
as 1T is commonly termed-credit az
accurately it should be termed-wil1 be
restricted for speculative purposes so
long as the credit requirements of the
government remain large - interest
rates tending gradually to harden Rut
general prices are not lkelv 70 foil
greatly-may even rise little immedi-
ateiy-and must under any further
marked imitation inevitably rise finally
Agriculture should be prosperous so
long as high prices are guaranteed from,
Washington. 1t is not, however. at all
so clear that the prices to consumers
Will hold up to the guarantee level
GREAT losses are possible for thc oo~
ernment on account of the war GUAR
ah'ce that turns out now to be peace
guarantee. The decisive factors will
or course, be the crops here and abroad
and the volume of European demand.
good crop year might make the mar
Kct'ng OF the entire crop impossible at
prices that would protect the govern,
ment. On the other hand, a short crop
might easily impose still higher prices.
But these prices the farmers would oot
There would be no fiscal gains from
them. The farmers have a certain rood
thing together with a possible melon
cutting. The government has pos
slbic bad thing with no chance of alter
native gain. 1t would be the wiser nro-
gramme to commander the crop at the
specihc prices in order that with
probable loss should go a possible
gain. But the farmers have it the bet
ter way for them.
In the high prices all around it is the
creditors, the fixed income folk. and
hxed income industries like the public
utilities, and finally with all tho rest
INC wage carners, that get tho harm.
not yet, therefore, is there any dawn
ing hope for the railroads or the MIL
niclpal service companies.
SO much, then, for the outlook in the
months OF transition and reimbursement.
INC probabilities and possibilities in
inc Following period will require
further analysis.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
Resources Over
SLIGO, 100000

All this may sound theoretic. yet the
awareness than men in their CONNER
clal relations are still human beings
seems to yield returns that are meas
urabie IN dollars. The deposits Of the
National City Bank, its branches and
is subsidiaries amount to S1,006 ,00o.-
900 and the total resources to over
S1,ooo,0oo,0o0. To Mr.. Vanderlip, these
figures. showing to what extent the
City Bank has plunged into leadership
in American banking, tended to justi-
fy the idea of service as business
proposition.
The forward march of the City
Bank in the foreign field has been not
able in the last four and one-half
years. More than one-thrd of the de-
Ios'ts IN New York are now foreign
deposits, and the number of foreign
deposits is now in excess of the total
number Of accounts in the bank before
the war.
In the brief formal announcement Of
the bank recently the birth of rev
branch banks in South America. the
west Indies and in Europe was unccre-
moniously heralded The Citv Rank
has just announced that it will omen
new branches in the cities of Cardenas
'icgo dc Aria and Camagney, Cuba:
IN Porto Allegro and Pernambuco. Bra
zH' Rosario, Argentina, and BARGE
Iona and Madrid, Spain. When these
are opened the National City Bank It.
Sclf will have twenty-four branches.
and the international Banking CORPORA
;ion has twenty-five. Besides those
enumerated. the bank has branches ct
the cities of Havana, Santiago, Ma
tanzas. Cienfuegas and sagua la
Crande, Cuba; Buenos Ayres, Argen-
sina; Bahia, Rio de Janeiro, Santos and
Sac Pauio, Brazil; Valparaiso, Chile:
Genoa, Italy, San Juan. Porto Rico:
Moscow and Petrograd, Russia; Monte
yidco. Uruguay, and Caracas, venez-
uela. The branches Of the Interna-
tioDal Banking Corporation are stu
ascd IN tire following cities: London.
San Francisco, bombay, Calcutta, Sing
aporc, Hongkong, Canton, Shanghai,
Hapkow, PckiBx, Tien-tgin, Ccbu, Ma
ria, Yokohama, Kobe, Panama, Colon,
Medel!in, Sarto Domingo, San Pedro
de- Iacoris, puerta Plata, Santiago de
etsbs, Batavia and Sourabaya. Al
though the systems of the Interna-
sloisai Ranking Corporation ard the Ma
~rieag City Eank are etructurally indie.
psn1ent. they ne funetjonaliy nnes The
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-12
"Why Have
Branch Banks 2"

In quest OF knowledge as to what
the relation of the formation of these
branches to American trade and world
development was, The Tribune's rep
resentative journcyed to Mr.. Wander
lips Office.
"Why have branch banks ?" was the
first naive inquiry.
IF it is a commendable ambition :"
the banker answered, ''to desire to make
and keep New York a great financial
centre-and think it is-then we must
have branch banks" Branch banks.
he explained connect foreign places
with New York, and thus make the
city clearing place for trade infor-
nation funds and credit. They make
it possible to retain some of the adj
vantages which the dollar gained
abroad during the war
"Then, too," he said Eve intend
greatly to expand our trade, and, if
our exports are to grow, our imports
must also. Branch banks can gather
information about foreign markets for
American exporters and about con-
sumption needs here for foreign SELL
ers. And they can do it more quickly
than the government is doing it and
make the subject matter more respon-
slve to the needs of seekers after trade
information through closer contact
with the people they are serving.