The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-01-30

this legislation opens up new
era Of Industrial DEVELOPMENT in this
section" since Henry Ford viii apply
for lease of the water that flows over
the federal dam in the Hudson river at
Troy, for the great tractor plant which
he proposes to establish at Green Island
Starting with an initial force Of
some 1000 workmen 1t is expected that
the number will be expanded to some
S,0n0"
Right under the eyes of congress,
too. power has been going to waste. As
the Lafayette Journal Courier Ind
on the Potomac river and see the value
Of 500 tons of coal floating down
stream any day in the form of unused
water power"
Money and Price Initiation.
Thirty principal countries OF the
world. as figured up by the National
City bank of New Orleans. and not in
Guiding Russia. have increased their
paper money circulation from $3.50.
December. This is an increase of al
| most 500 per cent.
The ratio of gold notes in the Gem
| trail European countries has fallen from
4s,7 in 1914, to II per cent. In the al
i lied countries the ratio has fallen in
| the same time from 1855 to III per
| cent.
Our own note circulation is shown to
| have increased from $1,056.000, 900 in
! 1914 to 1851 900 900 last December, or
300 per cent. while our ratio Of gold
| holdings to notes has fallen from 1915
| per cent to 523 per cent.
Europe generally is thus shown to be
on an inconvertible currency basis. But
its monetary initiation in any other
comparison with Europe is evidently
easily to maintain convertibility.
IN the face OF so vast and unexaln
pied. an expansion of the circulating
medium. there can be no mystery about
| the general rise in prices. This will
| be found largely to correspond in each
| country to the increase in the currency
| volume Of that country. And when price
| Is but the expression of the value of
any commodity in terms of the actual
circulating medium, whatever 1t Is, the
| fact could not well be otherwise The
way back to lower prices as by way of
reducing this superabundance and con-
| Sequent cheapneSS of the currency
! New York World (Dem)
Americanize Prince of Wales.
That the prince of Wales made a
| devastating impression upon the femf-
| nine American mind can scarcely be
disputed, to judge from the bushels of
amatory or friendly letters he is re-
celvlng from, our women folk. We can
| recall no such crush" before. A fellow
| who gets $4,000 letters week. mostly
self. He makes the rest of the lady
| killers look like small retailers. com
pared to the wholesale abattoir In which
he siaughters female hearts.
which seems to indicate that though
men have been engaged recently in
pulling down kings and princes, women
are ready to set them up again. Ger
tainiy royalty and aristocracy have not
yet lost their fascination for female
democrats. There appears to be lure,
| hi
and nobility which is as irresistible as
diamonds to many women.
The prince of Wales is something bet
ter than prince. He appears to be a
very wholesome and attractive young
ster, who would go far on his own
merits alone. He might do much worse
than get nice American girl for a wife
ana come over here and grow into the
pest OF them aha real American of
the first Baltimore sun lind.
Dem.).
Japan Keeping Faith?
Dispatches from Toxic say that. the
Japanese government has notified the
chinese government officially that it is
now ready to negotiate for the return
to China of the German rights in Shan
tung which were awarded to Japan by
the treaty of peace signed two weeks
ago.
The Japanese premier stated a month
ago that the minute peace Is signed,
Japan will take up the matter of a full
return Of all territory in China" Her
prompt action might indicate on it's
face that she is prepared to keep the
promise If she does, she will show her
superiority to most Of the land grabbing
nations which do not let go until they
are raped on the knuckles. But we
see only the face of things.
/ Next to the Monroe doctrine and the
freedom of congress to deal with uues-
tons affecting American welfare, the
Shantung question was the leading
cause of the senate's refusal to in
dorse the league of nations pact. II
nouncement indicates, 1t may cease to
be an obstacle to American ratification.
New Orleans Item Qnd.).