davidaulloa/AmericanStories huggingface dataset:
Imperial Valley press., 1919-12-08

For geOd Shampoo Scalp treatment
or facial at reasonable price, call on
Mrs. Robertson or phone 341-J.
Imperial Valley press., 1919-12-08

D. C. Lewis. director of the Auto Club
of Southern California, is in the Valley
for the day
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
Rec0nstructi0n-and Beyond
Shifting of Industrial Centre of the Nation Economist
Says, Is Expected to Come With Growth of Popula
ton and May Play Big Part in Solving Shipping Prob
lem-Hgh Cost of Wa; Construction Handicap to
Merchant Marine
Article VII-Shipping Problems

raising corn and buying bananas than
through partially displacing corn in
the attempt to raise our own bananas
And precisely as specialization is
wise as between individuals it is wise
between countries and zones. II other
countries can produce silk or jack
knives or linen or olives or wopllens
cheaper than we wet get these goods
more cheaply by buying them with our
own products than by producing them
for ourselves. The principle of special
ization-and, therefore, of mutual de-
pendence-applies in international
trade as in inter-individual trade In
truth. international trade is accurately
nothing but inter-individual trade
across national boundaries. If it is
good across state lines, say, between
New Jersey men and Kansas men, why
not also across national boundaries
To interfere with it is not only so far
to waste the productive powers of the
world, but also to waste the particular
local powers--to reduce each individual
share out of the total product. Trade
being really individual and not state, it
is only individuals and not states that
can play the monopoly game.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
Explain Method of
French Note Paymen;

The French government has made
arrangements to redeem on maturity
on April / next it's $100,000,000 51a
per cent note obligation at 1861.
Announcement to this effect was
made yesterday by j. r. Morgan & Co.
on behalf of the French High Commits
sion as follows:
"Many holders of 5h per. cent Sc
cured loan convertible notes Of the
government of the French Republic
due April I, 1919, have made inquiry
as to the method of availing of their
option TO receive payment in dollars in
New York or In francs in Paris at the
rate of 5.75 francs to the dollar.
"ln order to permit holders of said
notes, without Inconvenience or cost
Of shipping, to obtain the benefits
arising from the privilege of optional
repayment in Paris at the foregoing
rate, the above notes may be presented
mt the Office of J. p Morgan e. Co. on
the day Of maturity, April l, 1919, for
payment at the rate of 1854 per cent
Of the principal amount, to wit:
$I052.50 for each $1,000 in principal
amount OF notes Coupons due April
]. 1919, accompanied by proper owner
ship certificates. will be paid on that
date at the Office Of j. p. Morgan g.
Co. at the same rate, TO wit: 1854
per cent Of the face amount of such
coupons"
When the notes were originally IT,
sued In 1917 French exchanges was
quoted in this market around 40
francs TO the dollar. The present rate
IN D.45 francs to the dolIGr
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02

International
Costs a Factor

Implied in this analysis is the essen
tial meaning of international costs. Our
costs in the protected industries are
high. To have the industries means
that We must protect them. But the
very necessity of protecting them
means that we ought not to have them.
That they cannot pay the wages that
the other industries can pay means that
tScy displace more product than they
produce. They are a losing game. We
should better do something else-the
things that pay To direct the labor
away from the industries that can earn
the high wages and into the industries
of relatively low return is so far to
waste the labor--to displace the indus
tries that would buy more Of the sub
stitute products than the substituted
industries can produce of them
And thus it becomes clear why pri-
vate industry in America declines to 90
into the building of ships for inter
national trade, or into the operating of
them-why, if we are to have them. the
government will have to do the SAME
thing and bear the losses of it, AS with
other goods and services that we buv
abroad, 80 with these. We can buy
them, through exchanging other things
for them, cheaper than we can make
them for ourselves. The foreigners
England, Holland and Norway. for ex-
ample-can make ships and operate
them cheaper than we can. Then let
them. They have not our attractive
alternate openings for labor and in
vestment. This is precisely WHY we
should keep out and let them dc these
things for us, the while that we BUSY
ourselves with other things, buving
more of their services with our alter
native products than we could produce
Of theirs for ourselves.
But, after all, building ships. own
ing ships and operating ships are not
one thing but three. Shall we not
build them and stiu let others own
them and run them? 1t could be only
at fabulous losses. Foreign yards
could undersell us. Shall we Let others
build for us, buying and operating
ourselves? The low-wage shipping of
other nations would leave our operat-
ing costs impossbly large for COM
petition on the high seas. We should
have 70 sell out or depend on subsi-
dies or government borne losses There
is no protection for high seas carrying
trade.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
Work for Practical
Men With Vision

:. The ranks of these commissioners of
commerce are to expand rapidly this
year in preparation for the momentous
place that America aspires to take in
foreign markets. Participating ac-
lively in the vast machinery of the
Bureau of Foreign and Domestic Com
merce for accommodating practical eco
nomic information and for making end
less explorations after trade oppor-
tunities. they serve as the eyes of
American business in foreign countries,
and Burwell S. Cutler. chief of the
bureau, hopes that they will also be-
come the vision. A business man him
self, Mr.. Cutler, who is still president
of the Cutler Desk Company, of Buff
falo, Is aiming to weed out routineers
from the foreign service. He wants
scholarly men with a practical turn of
mind, observers of conditions who can
sense changes, men of creative i'm
pulses to link up American exporters
with foreign markets.
1t is Mr.. Cutters ambition to weld
the foreign department of the bureau
into an efficient instrument, practical,
thorough, directly useful. The aim is
10 be timely. The bureau is watching
for new tendencies, and is adjusting
its activities in accordance with them.
II has recognized the greatly changed
position of the United States as a
world power.
Before the war promoting commerce
meant promoting exports to govern
ment officials--and to most business
men In this country also. That atti-
tude was perhaps sound, too in the
ante bellum days, when America was a
debtor nation, struggling to reduce her
obligations to Europe The United
States--and the Bureau of Foreign and
Domestic Commerce, knowing this, is
planning its activities in the light Of
the new conditions-is now a creditor
nation. which will receive from Europe
$500 100000 a year in interest alone
America, possessing one third of the
present gold supply, spurns the pros.
pect of more gold. The nations most
farseeing bankers are in every public
utterance striving to make the people
envisage this complete reversal Of con
ditions.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
Doheny Made Intention
Known, Says Mr.. Sands
Reported Attitude of the State
Department on Passport
Causes Surprise

Members of the Association for the
Protection of American Rights in Mex
leo expressed surprise yesterday over
the statement attributed to Acting Sec
rotary of State Polk that E. l.. Doheny,
president of the Mexican Petroleum
Company. could not have secured pass
ports to go abroad if the government
had known that he intended to set be-
tore the peace conference the situation
IN Mexico and demand protection Of
American property rights there. Mr..
Doheny was reported to have stated
that to be one object of his journey in
an interview given out at Halifax last
Friday before he, with other oil men.
embarked on the Aquitania for Eu-
rope.
X. NJ. Sands, a director of the Mexi-
can Petroleum Company. said:
II believe Mr.. Polk must. have been
mlsquoted, as Mr.. Doheny informed me
last Saturday that when he requested
passports the State Department was
fully advised of his plans and the pur-
poses of the committee of the Associa-
ton for the Protection Of American
Rights in Mexico in going to Paris to
present their views to the peace CON
ference"
A special committee is expected to go
to Washington son to confer with Mr..
Polk over the Mexican situation, with
the view of obtaining cooperation in
the plans to safeguard American in
terests in Mexico.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
How Higher Rates
Affect Incomes

The normal tax for 1918 has been
increased to- 6 per cent on the first
$4,000 Of net income in excess of the
credits allowed and u per cen; on the
amount above $4,000. These rates ap-
ply to citizens and residents of the
United States, nonresident aliens be
ing subject to normal tax of 12 per
cent on net income derived from
sources within the United States in
excess of the credits allowed by law
The graduated surtax applies to net
income in excess of $4,000. and the
rates range from l per cent to 65 per
cent. The table below shows the rates
Of tax for 1918 and the percentage Of
increase of 1918 taxes over those CO.,
lected on similar incomes under the
1917 law:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
National Service Attracts.
Despite Low Pay

The discussion Of the difficulty of
getting m"n whom the bureau can hold
led to- an inquiry as to the motives
winch lmpel men to take up the work
at comparatively low remuneration.
Mr.. Cutler thought that the prestige Of
government work and the broad out
look that national service fosters were
The dominant attractions.
Mr.. Cutler himself has to resist the
call Of his own business to satisfy his
desire to remain with the government
until he has made the bureau more ere
at'Ve IN spirit, more practical and more
responsive to the needs Of men in com
mcrce. Mr., Cutler journeyed to Wash
lngton as a dollar-a-yea man for the
purpose of arranging meeting among
representatives Of all the purchasing
Offices of the government and the rem
resentaives Of business to formulate a
uniform contract system for govern
ment work. The objective was to get
the agents Of the two groups together
on friendly basis Of cooperation. in
stead Of allowing antagonism and con.
fiict to develop.
committee headed by Mr.. Cutler
formed an interdepartmcntal confer
cnce, which studied the question of
uniform cost accounting intensivcly.
It worked with the government bodies
charged with buying materials.
THE movement" MIR. Cutler said,
Succeeded, especially as it affected
the policy Of the Shipping Board. II
eliminated millions Of dollars Of DO
tcntial disputes which otherwise would
have gone TO the Court Of Claims,
which nevertheless will require a gem
eration to clear It's dockets Of cases Of
thjs calibre"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
Why Give
Protection

But doubtless It is true that certain
OF our Industries cannot maintain
themselves without protection. They
say so. Probably they arc right. What,
then, 10 the use Of having them? Ac-
cept the cage as the tariff applicant
puts it. His foreign competitors get
cheaper labor. have lower wage costs.
The protected industry can paw our
nigh level of wages only when we give
1T sufficiently high selling prices
through shooting away the foreign i'm
porter
Precisely SO; but why are the wages
here so high? 1t is merely that most
businesses here pay without help--can
produce enough to be able to paw labor
we'll, and thus release the laborers
only to these competing domestic in
dustries that can also pay them we'll
1t Is, in truth, domestic competition
rather than foreign that is Worrying
the protectionisr producer-the -four
'shing industries that prosper because
they are proper to our situation arc
adapted to utilize, the special advan-
tage offered by it, and can paw the
high wages possible in it, It is .his
competition from which the mendicant
Industries are suffering. If only the
other industries were, equally with the
suppliant industries, ineffective and
unproductive protection would be as
harmlessly unnecessary as it is now
silly. Its petition is in substance that
America compels itself to produce at
the level of low productiveness and
acant return to which less fortunate
nations are subjected that we choose
that poor alternative for us which Is
their best; that we forego the better
thing that we can do and they cannot
in order to do that less desirable thine
that they do; forsaking our special
advantages IN order to follow their
lower advantages achieving some prod
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
Oil Wells Respond
To Unsuitable War
Demand for Fuel
Production of Crude Petro-
leum i'm United States Last
Year Establishes Record
Year Established Record

Production of crude petroleum in
the oil fields of the United States
established a. new record in 1918, when
S41,724,297 barrels we're pumped from
the earth under the pressure of an in
satiable war demand. This, according
to the figures of "The Oil City Der
rick" represented an increase in pro-
duction Of 13,774.185 barrels over 1917,
and continues the succession OF III
creases from year to year which has
been consistent for twenty years.
Only when the whole United States.
says this authority, has been exploit
cd even to the deep formations and
fresh producing territory is as scarce
as in the old divisions Of Pennsyl-
vania, can it be estimated that the end
of the yearly increase in oil produc-
ton has come. Since 1898 each sue
ceeding year has shown larger out
put than the preceding twelve months,
with the single exception of 1906, when
there was a slight decline from the
output of 1905. But in 1907 the in
crease over 1906 set new record at
40,000,0O0 barrels
The Output by Districts
Production of the various oil districts
of the country last year, compared
with 1917, is given in the following
table in barrels of forty-two gallons:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
By Merryle Stanley Rukeyser
TWEEN the smallest American ex

<VEN the smallest American ex-
porter has commercial repre-
sentative pioneering for him in
every port of the world. In setting
out on the great adventure of reaping
the full benefits of world commerce the
trader often underestimates the aid he
can get from agents already OH the
ground in faraway places
The trade ENJOYS sent out by the
Department of Commerce and members
of the consular service consider them
selves promotive workers in behalf of
special concerns, as we'll as for Ameri-
can industry as & whole. To private
enterprises, which are completely aware
of their privilege of getting expert SER
vice performed without charge in for
eign lands, results that might other
wise be prohibitively costly regularly
accrue. Ministers Of commerce, stu
dents of the precise needs and re-
sources Of peoples of other nations
these governmental officials are in
Structed to do everything they can for
American houses except actually solicit
or receive orders. They are specifically
authorized to carry catalogues of Amer
lean firms to particular markets and to
adjust disputes in which manufacturers
and exporters from this country are
parties
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
Domestic Field
Most Attractive

But may we not buy what others
build-stil doing the owning While
they do the operating? Possibly 80,
though we have never done it. StockS
in the ocean shipping companies have
attracted US little Capital has had
better openings at home; interest has
been too high for the same reasons
that wages have been high the home
openings have paid the better. Bu1
now that we are rich--the world lc<x-
ing to US for its supplies = new capt
tal-we may, no dor>t, and probably
shall, invest in tie securities Of for
eign shipping companies. But shall
we keep them? Or the new enter
prises may be financed here. And it
is not incredible that the primacy in
international finance may remain with
US, though it is not probable. In the
long run, presumably. American in
vestors will still find the most at
tractice inducements in the field of
domestic development. This is merely
another way OF saying that in the long
run interest rates arc likely to rule
higher here than abroad. But there
is no good reason to believe that for
a term of years, perhaps for decade,
American investors may not carry
heavy holdings of shipping securities.
But government building? Wasteful
Government operating? Incredible.
Government investing? Vain and dan
gercus.
But we have the ships? They are
Jonahs. We shall better sell them
an emergency undertaking to go with
our other prodigious and inevitable sac
rifccs and costs The longer we keep
the ships, the greater will be our losses,
and the cheaper finally shall we have
to sell the ships. The more that we
have still to finish, so much the worse
for us when they are finished.
But stll-what after all are we
likely to do? We can go on if we will.
America is rich. We can stand it, No
lean government can get to spend and
can spend when it gets it. Nothing is
impossible in experiment or waste in
the richest country in all the world and
in any age of the world. To be quite
frank about it, we are likely to go on.
There are enough of us who somehow
think it will somehow pay--enough
people who believe that we must, in
reasonable care for our national Sc
curity, so ahead whatever may be the
purely financial losses.
ENote.-This is the seUeuth of u
series of articles IN auhich Professor
Davenport outlines has uieWs of the
future of security ualues, interest,
international trade, gold movements,
acages, immigration, shipping, taro-
ton, real estate, etc. The eighth
article aoill be presented neat Su'a-
day. Financial Editor.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
By Morris F. Frey
Tax Consultant of the Guaranty Trust
Company of New York

A CCORACf IN the preparation of
~ income tax returns for the tax
able year 1918 is especially i'm
portant because of the exceedingly
ilgh rates which have been imposed
under the new revenue bill. In for
mer years, when the personal tax rates
were much lower, the failure to take
advantage of deductions which were
permitted under the law may not have
made so great a difference in the re-
turn of the average individual. With
the new income tax rates, hcweve-
ranging rom s per cent to II per cent
the failure to include any part of the
taxable income or to allow for all
proper deductions will affect material
ly the amount of tax to be paid to the
government. The income of on indi-
vldual is subject to two taxes - the
normal tax and the graduated surtax
hder the law effective for 1917 taxes
were imposed by two distinct and
separate laws, the act of September 9,
1916, and the act of October 8. 1917.
ir this way two normal taxes and two
surfaces were levied upon the same
income, making the computation neces-
safily complicated and difficult. Under
the proposed 1918 law, the assessment.
is simplified by consolidating the two
normal taxes into one normal tax and
the two surfaces into one surtax.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
Mistakes Costly Under High
Personal Income Tax Rate
Method for Computing Amount Due Government
Is Less Complicated This Year-surtax Runs
Up Fast-Total. OH $l,OO0,O00 Is II Per cen,

any part of the net income appearing
in the first column includes such items
a proper reduction in the total tax
must be made on account of the ex.
emption of such items from the norms,
tax.
Income subject to normal tax has al.
ways proved confusing to many t,s-
payers. The term met income" as used
IN the law, is the income upon which
the surtax is assessed, and does not do.
note the income 10 which the norma,
tax applies. Before the application of
the normal tax, the net income must he
reduced by the amount of certain items
Of income and by certain exemptions
which are described in the law as cred.
its, namely:
Dividends of domestic corpora
tons subject to Federal income tax.
?. Interest on obligations of the
United States and War Finance Cor
poration bonds which are subject
only to surtax
3. The personal exemption
4. The exemption of 5000 for de-
pendents.
Under the proposed income tax law
corporations pay to the government an
income tax of II per cent. For that
reason, in the framing of the law, the
portion of income of an individual, rep
resented by dividends of a corporation
whose income is subject to the Federal
income tax, is exempt from the normal
income tax and is subject only to sur
tax. Interest on United States Liberty
bonds issued subsequent to September
"a, 1917, and interest on War Finance
Corporation bonds, except that made
specifically exempt by statute, are SUD
ject to surtaX in the case of an ind
vidual and to the excess profits tax. in
yhe case of corporation, but is spe-
officially made exempt from the individ-
ual normal tax and the corporation III
come tax The income from the above
sources is, therefore, to be deducted
from the net income of the individual
before the normal tax is computed.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02
TO Promote Imports
As Well as Exports

Exporting goods is only one aspect of
the new foreign trade problem, which
IS also concerned with the means by
which foreign countries will pay their
bills. The way out of the dilemma of
settling balances, according to most
competent economic observers, is slim
uiating tremendously our imports Of
foreign goods and foreign securities.
The commerce bureau does not spe-
cialize in the question of investments,
although it has recently made several
important studies in that field. The
matter OF promoting imports of COM
modities, however, is fast becoming a
primary function.
What is the bureau doing to stimu-
late imports 2" Mr.. Cutler was asked,
when seen in mis- Office at the capital.
The bureau chief in replying, out
lined an entirely new policy Of the de-
Iartment. eve are planning definitely
20 promote imports" he said "Our de-
cision to do so is one of the results
Of Americas new position as a creditor
nation. We realize that trade must go
both ways. We are just now through
cur foreign representatives Investigate
ing materials abroad that can be mar
ketcd in the United States--materials
tat arc not now imported to this coun-
try on large scale. if at all. We shall
publish the results of this worldwide
survey at about the middle Of the year
Among other things we find that the
United States can buy an almost unlim =
ted amount Of vegetable fats and ellis.
We need fine metal alloys and also such
things as vegetable fbrcs. Our pre-
lininary studies indicate that the
United States can buy vast supplies Ct
Saw materials and develop them at a
profit.
Within the last year we have been
Duysng from China on a large scale
Aried egg products, which have been
used in food products in which eggs are
required. Drying these eggs in simple
pans~-aithough few Americans know IL
-~is one Of China's most popular in
dustries, in which many thousands al
tn people are employed. The United
states IL nov Chlna'g greatest market
for this product.
And by way of further illustration.
consider Italy's citrous fruit products.
nasch constitute ono 81 the kingdom'g
fuain popular industries. Unless we
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-02-02

ucts through the displacement of al
tentative greater products. lncidcn-
tally, also, we shall prevent their doing
the things relatively the most desir-
able for them, imposing on them the
necessity of supplying for themselves
the products that they could better
buy from us-denylng, in short. to
them, as to ourselves, the advantage OF
doing the things to which each is best
adapted