davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-05-16
r f. HUTTON, avho advocates national organization Of


in the financial world to the extent
that it stands aghast, wonderin- how
1t is possible for men representing
this country to even suggest such a
measure. The result Of such a bill,
II put into effect, would be that
about 80 per cent Of the industrial
concerns and going enterprises of
the country would have to go into
the open market to borrow money
at from s to 10 per cent in order
to pay taxes. A schoolboy could see
the effect of such condition. 1t
would mean that the Treasury of the
United States probably would have
to take over the plants of these COM
panies, as there would be no money
available to supply the demands of
these various concerns. The life of
all business enterprise lies in the
ability to borrow money for expan-
sion. If that is done away with
they will cease to exist. CAPITAL
must be invested, and investments
must be sought in such channels.
Death to Incentive
"The present form of taxation
kills the incentive for any man to
engage in new enterprises which,
in the nature Of things, create en-
ployment and production. 1t is the
big men with big thoughts who ere
ate new conditions. The motive to
continue has been killed, and it is
time the government recognized
that fact. On the present basis of
taxation, If man loses 100000
this year, next year he would have
to make about s1,750,0O0 profit in
order to get back his loss and be
even with the government. How can
one continue on that basis?
"The big issue which business has
to contend with at the present time
is taxation. The big weakness which
business has to remedy at the pres
ent time is lack Of organization. We
have a Chamber of Commerce which
performs certain functions; we
have a Merchants Exchange which
performs certain functions, but
these organizations are not broad
enough in scope. Every place where
thinking people gather throughout
the entire country there are discus
sions Of our political situation.
People are agreed that it is hinder
ing business in every way and dis
couraging new thoughts and new
enterprises. The question is asked
by many: What can we do about
it?' The answer is Nothing We
all stand pat apd see things going
on in an ominous cycle, thinking
New-York tribune., 1920-05-16

average amount Of real estate
owned is $4,000. Think Of thatl A
man with an income Of $500 a year
buying an automobile that costs
nearly twice his years income. Talk
Of extravaganza!
On the Installment Plan
"He buys it on the installment
plan, of course. Another one of the
present day curses Of America! Peo-
pie everywhere are buying on the
installment plan things they don't
need. The installment houses them
selves are getting nervous. Many
of them have raised the initial pay
ment from 10 per cent to rs per
cent.
"To give you another example Of
the sort Of thing people are doing:
One of the old customers Of an in
stallment house---a furniture house
in a city in the Middle West came
in to buy some more goods. The
manager told him the initial pay
ment had been raised to rs per cent.
The customer said he didn't care,
and the manager said that customer
bought goods to refurnish his house
completely from top to bottom.
"An hour after the customer had
1aFt kn ctr fho
called on the telephone by a depart
ment store that wanted to know if
X.--the customer--was reliable. The
installment store manager said yes
and asked why the inquiry was
made. Because said the depart
ment store, he wants to buy a $50
fur coat for his wife and wants t.
buy it on the installment plan
Stand by a factory gate at The
closing hour and you will see evl
dence Of the installment plan O.
every woman who comes througA
the gate. Look at the amount OF
furs women are wearing, and the
price Of furs is very high now. Yet
all the women must have them.
"Speculation is as great curse as
extravaganza and even more danger
Gus. The profteers started that,
also. When the war came on, prices
scared. There were fortunes to be
made overnight by bit of daring
speculation and everybody wcs anx-
ious to try it. Stories got around
of the fortunes made from nothing
The imagination of the people wa
inhamed. They all wanted to try i
on big scale or a little scale,
big as they could, most of them
There has been speculative fever
in America. One might call it
pestilence. There has been specula-
ton in everything.
Stock Market an Index
"The stock market has been Z.
good index Of speculation. But that
is not the most dangerous kind. The
stock market shows how the fever
runs, but it is not the stock market
the banker fears. At least, there is
always an open market for stocks.
There is always some one waiting to
buy. The holder can always realize
something. He may have to take a
loss. But he can get something.
People lose in the stock market, but
they don't lose everything, unless
they are gambling on margins.
What the banker fears is the
speculation in commodities, in real
estate and farm lands, the fellow
who puts his money in a hole in the
ground and hopes it will be an oil
we'll. The market for such things is
not liquid. There is not always a
buyer for every seller. The specu-
lator in commodities is liable to find
everything he has tied up in some
commodity and no market for it.
New-York tribune., 1920-05-16

following that advice. On the con-
trary, if America will adopt the
motto Work and Save it will avoid
disaster that otherwise there is
hardly possibility Of missing"
Blarnes "Unscientific Taxation"
E. f. Hutton, head of E. F. Hut
ton & Co., one Of the big "wire
houses" of Wall Street, who is thus
in touch with the whole country
from coast to coast and border to
New-York tribune., 1920-05-16

will soon become very serious men
ace. 1t is serious menace now.
But what can one expect? Capital
stands between the tax hold-up on
one side and the labor hold-up OH the
other. Capital is the most timid
thing in the world and capital goes
into hiding"
It may be interpolated here that
bankers generally recognize the situ-
alton with regard to capital that Mr.
Hepburn has outlined. Another
banker in discussing this situation
pointed out that our income tax laws
work in such way as to divert the
national savings into non-protiuctive
channels.
"The poor people can't save
much" he said, "the fairly opulent
working people are profiigate, and
the more they make the more they
spend. That leaves only the well-to-
do. If they attempt to use their
savings to promote manufacturing
railroads or any other productive
enterprise by buying stocks or bonds
in such concerns the income tax
law takes away the greater part OF
the income.
Bonds That Are Exempt
municipalities, on the other
New-York tribune., 1920-05-16
The Remedy Is Work

"That brings us to one Of the
remedies for the present situation
in America. 1t is work, work at
full time and full speed. Under
production means undersupply and
high prices. The cost Of living
can't be brought down while prices
are showed up through Il lack of
production. The workmen COM
plain about the cost of living and
demand higher wages. They are
only making the situation worse.
Higher wages mean higher produc-
ton cost, and, of course, higher
selling price. The remedy is in
larger production, larger supply
without increased costs. Then sell
ing prices will come down. So, one
New-York tribune., 1920-05-16

iIloilu rings observed me with great
concern. At once he rose, came over
and asked what the little things
were.
" 'Kauri,' said proudly, genuine
Kauri.'
African Money
"He asks whatever Kauri be. I
explain that those unfortunate mig
gers on the Niger, uncivilized bunch
as they are, pay their bills, not with
real paper money like ourselves, but
just with these tiny shells. On the
whole western coast of Africa, in
Guinea, in other highly exciting
places this Kauri is the only cur
rency. AS the niggers possess no
pockets, not to mention pocketbooks,
they string the shells on a cord and
wear them around their naked stom-
achs.
"My stranger listens, grunts and
plays with his diamonds-suddenly
he queries:
How is the Kauri to-day?'
II don't know what devil whis-
pered into my ears. I looked at the
man coolly, and said:
"'Seventy-fve!'
Can you let me have fifty?' the
man asks, pulls out a smeared old
pocketbook and counts down, by
God, fifty times seventy-five kronen.
l give him, quickly, his fifty shells,
tie a new knot on the string and
beat it to the junk dealer.
"But the junk dealer refused the
Kauri with disgust.
81 walk back across the bridge,
eaten by remorse. T sort of thing
New-York tribune., 1920-05-16

l looked the brain worker l am. 7
surveyed ~ room desperately. Any
thing left to sell? Not a damn
thing. All sold.
"All of sudden l notice, in a
dusty nook, the old string of shells.
You know, I used to have a great
uncle who once made trip around
the world. For many years l called
on him every Sunday and listened to
the same old stories over and over
again. At last he died, and then it
appeared that he had invested all
his money in an annuity. To me he
left nothing but that string Of tiny
shells-a great sight for ethno2-
raphers - Kauri shells, Cypraa
Moneta Linnei you know, the
things used by niggers for change.
He had brought them home from his
trip.
The String of Shells
"Well, there was the Kauri string
hanging, and it occurred to me that
one can get money these days for
any old rubbish, so l decided | would
take the curio to the junk dealer in
the Augartenstrasse who had pre-
viously relieved me of my other
valuables.
"Streetcars are too expensive these
days, so / decided to walk. On the
Schottenring / felt tired and stepped
into little cafe, next door to the
Stock Exchange, for cup of tea,
minus sugar and milk.
"1n my boredom I pulled the
string out Of my pocket and counted
the shells. Two hundred Of them.
"a little fat gentleman with dia,
New-York tribune., 1920-05-16
Penalties on Business Are Too
EIeavy, Declares Chairman Of
Chase National Bank

things most urgently needed to
bring down the cost Of living. But
production was lower in 1919 than
in 1918. and the outlook is worse
for this wear
New-York tribune., 1920-05-16

Of the remedies for America is work
all in capitals-WORK.
"There is an extremely serious
condition that might be described
as the prospective strike Of capital.
In fact, the strike is already in
progress. 1t has been going on for
some time. 1t is due to the
government, which by it's income
tax, surtaX and excess profits tax
has put an embargo on the activities
of capital. The government has
practically said to capital:
You can work so long and no
longer. You can make so much
and no more
~ can illustrate that by the
remarks of a business man, big
manufacturer.
az am going to close down my
factory he said. we have been
running two shifts. I am going
to cut off one shift and run only
one. l am going to keep my
wheels turning just fast enough
to keep the machinery in good con-
| dition-not to let it rust on my
hands,
'Why?' l asked.
Because have made my allow
ance for this year, he replied. l
have made all the government will
let me make until next year, so I've
got to close.
Big Risk for Little Gain
"He went on to explain. In or.
der to make dollar he said, I've
got to risk S. or $40, and believe
me, it's big risk in these times.
You are little more likely to lose
your SIS or $40 than to make your
dollar. But suppose make dollar.
After I've made certain amount
the government steps in and says,
From now on III take 65 cents out
of every dollar you make So up
to certain point my capital can
work with a chance of making fair
profit, but after that point is reached
! the government says I've got to risk
$40 to make 35 cents. | won't do it.
1t isn't worth the risk. Pm through
for this year. I'm going to close
down and just keep going enough to
keep my machinery in condition.
During the war the government
put the same embargo on capital,
but capital kept at work then
through patriotism. The war is over
now, and capital has had enough.
What one might call the strike of
capital began last year and has been
going on quietly but with increas-
ing force for several months. It is
spreading all the tin4s, and unless
there is a revision Of the tax laws it
New-York tribune., 1920-05-16
A Foreign Exchange Melodrama

Before the war tho Viemnese had
the reputation Of being the most
good not1tred and wittiest of all
metropolitan populations IN Eu-
rope. That this hun.o7 has not
altogether deserted them amid
their present desolation is appar-
ent from the folloaOing little sto,y
illustrative Of the low rate of er-
change Of Austrian money, sent 6y
Arnold Hollriegel to the "Vos-
sische Zeitung," of Berlin:
n MET my friend Leonard on the
street and was ast0nished. The
man looked shabby no more.
He wore new overcoat and,
the cold Notwithstanding, wore it
open, SO as to display the brand new
suit underneath.
I did not say, Good morning" I
said: "Poker?"
He answered: "No; inheritance"
"You have my heartiest sympathy
in your great bereavement" said I.
But, however grave the loss, be con-
soled in the thought that the un-
fathomable will of God"-
What are you raving about? No
relative of mine died for the last
six years.
A Story of Wealth
He invited me-so magnifcently
prosperous had he become-to a res
taurant, and told the story Of his
sudden wealth.
"Well, was done completely. Not
a penny left, my shoes 80 torn that
the soles clattered a jazz tune on the
pavement as I walk. In a woA
New-York tribune., 1920-05-16

Bonds That Are Exempt
municipalities, on the other
hand, small and large, can issue
bonds and declare them tax ex-
New-York tribune., 1920-05-16
By Fred p. Pitney

IF HAD strong hopes at one
@~ time tlat we would be
r able to gcS back to
The Prescott daily news., 1920-06-22
KEYNOTE TO BE
 SOUNDED JULY 22
CHAIRMAN IN STATEMENT IN- FORMS COUNTRY G. 0. P. CAN DfDATES ARE PARAGONS HAYS HANDS BOQUET.

Washington, June 21. - Senator Harding vii ble formally notified of his nomination as the Republican presidential candidate July 22 at his home in Marion, Ohio.
 Governor Coolidge of Massachusetts will be notified of his nomination by the Republican party for vice presi- dent on July 27.
 The dates of the two notification ceremonies were decided on today at a conference here in which Senator Harding, National Chairman Hays and a subcommittee of the Republican na- tional committee of the Republican na- tional committee participated. Wheth- CT Governor Coolidge would be noti- fled in Boston or at his home in Northampton was not announced.
 The conference at it's session, which lasted all day and into the night, also agreed on an executive committee to have general charge of the campaign but it's personnel will not be made public until tomorrow in order to per- init Chairman Hays to communicate with the proposed members and as- certain whether they will be willing to serve. It was understood, however, that among the members appointed was Harry M. Daugherty of Colum- bus, Ohio, pre-convention campaign manager for Senator Harding.
The Prescott daily news., 1920-06-22
CIVIC IMPROVEMENT
 CLUB MAKES GOOD

Little Rock, June 22.-Herb Lewis of the Department of Agriculture re ports that the Civic4mprovement Club recencly organized by the ladies of his home town of Gravette, has been accomplishing many important thigs from the very start. It's most i'm portant move, approved by the City Council, was for the sale of the old park in the hollow, a quarter of a mile east of the main part of the city and the purchase of the R. w. Goyey park on East Main street. The la- dies immediately christened it the Captain Field Kindley Memorial Park" in honor of and to perpetuate the memory of Capt. Field Kindley, the Gravette boy who became Uncle Sam's second ace in the air battles with Germany.
The Prescott daily news., 1920-06-22
TWO HUNDRED LEAVE LITTLE
 ROCK FOR THE CONVENTION

Little Rock, June 22.-The Arkan- sas delegation left last night for the National Democratic convention at San Francisco. There are nearly two hundred in the party, led by Gov. and Mrs. Brough Senator w. F. Kirby, one of the delegates at large, will not attend the convention, and his place will be taken by J. D. Head, the first alternate The delegation is divided on the presidential preferences. Gov. Brough will second the nomination of Senator Owen and Mrs. T. T. Gotham will second the nmoination of Atty. Gen. Palmer. It is expected, however, after the first few ballots the delega- ton will get together, and present a solid front for the winner. Much re- gret is expressed that McAdoo has refused to permit the use of his name, as h has a strong following here.
The Prescott daily news., 1920-06-22
EASTERN AND WESTERN TER
 RITORIES SUSTAIN DEFICIT

Washington, June 21. - Railroads in the eastern and wsetern classifi- cation territories sustained deficit in net income in April, but the roads in the southern territory had a net bal ance of $2,38S,913 after paying all ex- penses, according to a partial sum- mary of operating revenues and ex- penses made public today by the 1n- terstate Commerce Commission.
 Operating revenues in the eastern district were $127, ,O8O,772 and operar- ing expenses $133, 3,157,076. In the southern district operating revenues were $7O,O35, 1894 and operating ex- penses $64,619, ,155, and in the western district operating revenues were $751; 76s,979 and operating expenses S124,- 62,554.
 Payment of taxes and other fixed charges not included in operating ex- penses increased the deficits of the eastern roads, wiped out the operat- ing income of the western roads and decreased the net balance of the south ern roads.
The Prescott daily news., 1920-06-22
RECORD IN FOOD PRICES

Washington, June 21.-- The food budget of the average American fam fly attained a new high record in May, the Department of Labor an nounced today, the cost of 22' articles of food used in making up the retail food vender having increased three per cent over the total cost in April and seven per cent as compared with January. Recent increase in the cot of sugar four and potatoes largely accounts for the group increases, the monthly review says.
 "Sinee food forms more than 38 per cent of the total budget of the workingman's family" the state ment continues, "the cost of living can scarcely be expected to decline noticeably so long as food prices con- tinue to advance"
 In comparison with the April fig ures today's review shows sugar has advanced 26 per cent corn meal IA per cent, flour seven per cent and po- tatoes five per cent.
The Prescott daily news., 1920-06-22
McADOO PUTS QUIETUS
 ON COLLISION RUMOR

New York, June 21.-Wm. G. Me |Adoo, in statement here tonight, de- |clared his recent announcement that The would not permit his name to be presented to the San Francisco con- |vention as a candidate for the Demo- cratic presidential nomination, had no relation to the politica lintervew with President Wilson published the day be- |fore. He declared he knew nothing |d the interview until he saw it in print and that the president knew mo- |thng of his withdrawal until after notice of it had appeared in the news papers.
 MT. McAdoo's statement follows: Tn order to set at rest absurd ru- nors and speculations which have been published to the effect that my
 letter of withdrawal had some rela-
The Prescott daily news., 1920-06-22
SHARP BREAKS IN
 FUTURES MARKET
BETTER WEATHER SENDS NEW YORK MARKET DOWN A
 CENT

New York, June 21.-Prospects for clearing weather were followed by a renewal of more or less general selling and the break of approximately one sent pound in the cotton market here today. Prices not only lost the improve ment of late last week, but made new low ground for the movement, with October contracts selling down to 34.- or or the lowest price touched since the publication of the end-May con- dition figures. That delivery closed at 34.20 with the general list closing steady at net decline of 95 to 1O5 points.
 The market was weak from the opening and first prices were "A to 37 points lower. The selling became more active and general later in the day, as stop orders were uncovered during the afternoon. Higher call money rates probably accounted for some of the Wall Street selling, while there also was considerable pressure from Southern points. July broke to 36.70 and December 33.01 with the general list showing net losses of 95 to 116 points in the late trading. The close was a shade up from the lowest on covering, local traders seemed to be laying more emphasis upon unfav- orable features in the general business outlook. Port receipts today 4,O72; United States port stocks, 946,217; ex- ports, 6,S80; making 6,122,710 so fa1 this season.
The Prescott daily news., 1920-06-22
F0IBY TOFRISCO
 WITH WILSON VIEW
nc LENGTHY CONFERENCE
 wITH PRESIDENT BEFORE PAVING FOR THE CONVEN- TON.

washington, June 21.-Bainbridge c.,hv secretary of state, on leaving |T..bington & tonight for the Democrat
 notional convention where he will os one of President Wilson's [s,kosmen declared he favored en- Easement by the convention of the '.cup of nations, certainly without Is,prvations that are nullifying." Secretary Colby, who will attend Lh0 convention as delegate from the |nstrict of Columbia, and who has
 Ls0n mentioned in connection with the [e,manent chairmanship, held leng- Ehv conference with the president dur (ng the day.
 q don't believe," said MT. Colby, |4bat the Versailles treaty with it's |sac,le of nations covenant requires Erv interpretative reservations. The |heument. in other words, si so clear That interpretative reservations can hardly be urged as necessary. How bver, if reservations or paraphrases Will clarify, there is no objection to them, but reservations which stultify tbe main purposes of the league and negative the substance of the cove nant are things which no man solici- Bus about Americas honor ca intake into his reckoning"
 The secretary of state predicted that the convention would meet "in a serious and amiable temper to discuss matters of the highest moment"
The Prescott daily news., 1920-06-22

tion to the presidents world interview
 or carried concealed purpose, wish to say, first, that knew nothing what
 ever of the presidents interview un til l saw it in the papers; and, sec ond, that the president knew nothing whatever of my letter of withdrawal until he saw it in the public prints. !"
The Prescott daily news., 1920-06-22

Wanted-Not less than fvie room residence. Close n-Will pay rent in advance-T. c. Wylie, phone 356 6-16d4
The Prescott daily news., 1920-06-22

The Ladies Home Journal for July is a good issue.-Call 242 and get one. 'i'
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-11-30

Indianapolis -four mills and elevators
today are paying $1,70 for No. red
wheat, S1.87 for No. 2 red wheat and
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-11-30
Births

William and Marie willeford, Dea-
coness Hospital. boy.
Edwin and Anna Bell, Deaconess Hos
pital, boy.
Gus and Mary Brown, Deaconess Hos
p!tal. boy.
Edward and Pearl Schaefer, Deaconess
Hospital, girl.
Dale and Gertrude Morgan, st. Vim
cents Hospital, boy.
Charles and Helen Jansen, st. Vim
cents Hospital. girl.
Lee and Margaret Kirsch, 1852 n. Dear
born. girl.
Alonzo and Marjorie Laughmiiler, 1893
Draper, girl.
Charles and Marcells Baker. 9O5ls Elm,
boy.
ihomas and Lizzie Malad. STA ROose-
welt. boy.
Lee and Adah Atkins, 1917 w. Nine
teenth. boy.
Carl and Myrtle Klutey, 1910 W.
Thirty Sixth girl twins.
Percy and Elsie Seward, 1924 y. Ham
Edward and Edith Burgo, go w.
Twenty ninth, girl
Casper and Ruth Wagner, 1921 n.
Sheffield, boy
Ernest and Maud skytte, $50 N. De-
quincy, girl.
clyde and Marcella Jared. COG Lin
wood, boy.
Aubrey and Pearl Moore. 1917 Talbot,
girl
John and Mary Funke, S24 Leeds, girl.