davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-12-17
Paying the War Debt.
Billions In Interest Might he saved
By tho Serial Bond Method.

To THE NEW NoRx HxnALD: Youi
convincing editorial article entitled
Paying Interest Not Good Enough" do
serves worldwide recognition. The fiscal
principle II enforces should irsrrcss an
nations that borrow.
The so-called sinking fund authorized
by Congress In 1913. which merely snlpea
bonds unavoidabiy or imprudentiy ex.
posed in the market, is a rnlsnomer
In his essay on The Use and Abus,
of the Sinking Fund" T. ID. Leake. q
distinguished English accountant. says
The mere retention In hand OF slfn'
out OF revenue for any purpose doe
not constitute sinking furd; thers
must be a specific investment OF none,
Intended to accumulate at interest .
The writer was informed at the Treas
ury Department In Washington In 1896
that the so-caiied sinking fund author.
ICED by Congress wac not to be invested
at interest tn meet the principal Of our
national debts at maturitics. II Is there
FIRE but q reserve or available fund for
sporadic use to effect partial payments
but not a normal sinking fund at inter
est to discharge the entire principa
when due.
It is now automatic that "the bees
way to pay a debt is to pay Il; the beat
sinking fund is payment" co. M
Browne. 'The Sinking Fund" sccort
edition. 1890. page 1o.)
Professor II. c. Adams Il. his ''Seience
Of Finance" ut page $50. afiirns thai
"the payment OF the principal Of a deb,
tends neither to inpoverish "a nation nor
to retard It's material development but
on the other hand. the maintenance OF
the principal and the constant payment
OF accruing interest tend to cripple ths
productive capacity OF any people"
The savings to accrue from the results
great. yet are indefinite. But the diff
ference In cost to taxpayers from $780,
o0o. 100000 loan In favor OF the scriai
method Of payment over the prescn,
single maturity method Is on twenty.
FIVE years at 5 per cent. about $780,
900. 900 and on fifty years about s15,-
600. 100000.
The call for naval holiday to save
among other charges about s30, 1000. .00c
on the first cost OF new battle cruiser
|. far overmatched by the demand tc
refund with serial bonds our s20.0oo.-
100000 war debt. which refunding would
save respectively on twenty-five and or
fifty years time the cost OF 3i0 such
cruisers In the shorter period and COO
such cruisers In the longer period.
The entire debt, principal and interest,
would also be automatically paid al
maturity, and large additional savings
would accrue In the future from lower
rates Of interest in favor Of nation
known to pay as It goes. The bill fled
July Is. 1921. in the House of Represen.
tatives (H. II. 1880 covers this sub.
ject and recognizes the power and duty
Of Congress to protect taxpayers In this
unprecedented situation.
ALFRED d. CHANDLER.
BRooKLINE, Mass, December 16.
The New York herald., 1921-12-17

OF the bourgeois. I'VE would say"
he remarks, that bourgeoisie com
mences as soon as a man. saving
from his income. becomes a proprie-
tor and rises to a new order OF ideas,
OF needs and OF enjoyments. The mo
ment there Is cessation OF labor the
bourgeois disappears. He then be
comes a parasite. Summing ur. the
bourgeois Is recognized. hrst, By
what he possesses; second. By his Ia.
Dor; third. by his savings: fourth. by
mis- practice OF certain social habits
and social relations"
II one might venture n further
summarization applicable 20 this
country, the definition would be com
pressed into two words. work and
thrift. Between the so-called proicta'
riat and the so-called bourgeois,e the
line is clearly enough marked. On
one side OF il IS pride In work well
done plus economy: OH the other
Stacking, whether Organized or spo'
radio, plus sQusndering. For illus
tration, the workman who had sense
enough to save all he could of war
time wages and put his savings into
savings bank or securities or home
ownership falls into the bourgeois
group. The workman who spent hia
surplus on expensive raiment, auto
mobiles and other extravagances Is
of .he proietar'st.
Only, tlo svap 49,. o-ator does not
say bourgeois; he says capitalist.
The terms are interchangeable as
used by the demagogue. In this
sense they are passwords that open
no doors to success in America.
Work and thrift, these are the old
reliable sesames that throw down the
bars and give access to the green
pastures OF UNCLE SAE's farm.
The New York herald., 1921-12-17

The Oldest white prisoner in the
South Carolina State penitentiary has
declined to accept a pardon because he
feels that the world has progressed so
far In the thirty years he has been
locked up he would not know what to
do II he was free. But really he need
not be alarmed; it Is true he would
find man equipped with few new
mechanical contri~ances. but he is still
wrestling with the same old infirmities
that afflicted him a generation ago
The decorations Of life have changed
but not its substance.
The New York herald., 1921-12-17
when Maiae. Lane Was Pun Of Maids

when Maiden Lane was FUN OF maids.
All bltwhing like the rose.
Their hair WAS ooiRed OF hung In braids,
80 readers might suppose.
Their feet beneath their petticoata
Lake nttie mice peepcd cut;
Their snowy ksrchiefs vesled their
throatn.
50 you would say. no douot.
hut fancy falsely paints the maiIh
who haunt obi Maiden Lane.
Who throng about iis classic shades
That mirror brooch and chain.
They look likc modern naidens fair
In hats. ro~ns. hosiery.
~ you're Inclined 20 doutt- 20 there
To-day at noon. and seei
MkuEIcE Mouia.
The New York herald., 1921-12-17

nounced belief in the existence OF
life on the moon, of real vegetable
life such as we know right here at
home on the earth. was something in
the nature of resurrection from the
dead for our nearest neighbor in the
skies. But even now must we neces-
sariiy give up the life theory? The
French skeptics do not settle the mat
ter by any means with their rock
crystal theory. Professor PICKERING
may yet have something more to say
on the subject.
The New York herald., 1921-12-17
lsoend 81 hs1sgsrs. Ns,r rork Sosisfv of
soas ~ fAs Rrrshsflon.

lsoenf ~ haHegsrs. Nee Fovk Sosisty of
soas - fhs Rrpehsfioa;
GHSrsxARN Frcllapiy ycu know--hut
dont care a damn--tsat year plan ~
os-ervs Frankiin's tirtalay wni take
another days p.y from me pocket n
every workirkuan IA fhe stats close
an the ccurfA city ana state. the e.
changes. ths iihrmrien, fhs schools and
naost basineae houa~u IN the cities. caus-
Ing n 6aaa iuss ~ mliiiuns % ccllarA
That 10 what holidays n~aa.
FIsrder q an wfii he tise lsas 70 ths
workers.
Last nonfh t'se tAres roii1avs clag
me sso. n the hranrlir scheme Eo~s
I wiii b. tocked anofher f3o a tas
bcGlnniag % the fcar ant IN the fellow
ing ebert rronsh SO uiere tEe 70. ti,-es
mcnihs--for what
And ygu peaia dscf tae iciisrs ana
make ths state ss4nd s.iii h. nlitwigt 60
while yCu ceichrutsG.
Grea' pafri,ss youi 20 %. Gee cut
The New York herald., 1921-12-17
Harbor Improvement.
Objections 10 the Plans Proposed
By the Port Authority.

To THE Nsw yoaK HKRAfD; The Port
% New York Authority has made pub
lic plans which n proposes 90 carry OUT
at public expense and which conten-
plate an entire change IN the handling OF
merchandise IN and out Of New York
They practically ignore the fac, that
New York has built or r. building q
series of docks Tor ocean and consiwlss
shipping. and that with the New Jersey
shore OF the Hudson this por; will have
more miles OF water and dock front than
Liverpool, London. Hsvre. Hamburg
Philadelphia. Baltimore ana New or
ans combined.
They entirely ignore the Possibility
OF the bridge being built AZ Fifty-nlnth
street TO connect By belt railwaye on
this side and with tho trunk lines crcss-
ing New Jersey ON the other formine
an adequate system Of transfer and
transportation for years 10 come.
They propose a system OF dlstrioutins
warehouses on the HackenBack meadows.
connected by tunnels with twelve ware-
houses In the centre OF New York. with
all the disadvantages OF congested street
trsffic made Inevitable by the echeme.
Tho plans include a system Of no.
called automatic electric railroad distri-
button which reads like a fantastic
dream and which. TO quote tho report,
will require radical changes in some
existing customs 90 trade and methods
OF railway operation" and very truly
they add Understandable NJ the mo-
ment By any exact science"
In fact. exact science. every day en-
perience, economies and a zane view 81
existing conditions and their prompt I'm
provement by tried and settled methods
seem to be left out OF consideration.
The first coss Is put al t2o0 0.eoo. Gee
but ten times that sum WI not see ths
scheme under way.
During the trying months of 1917 ant
1918 New York harbor took the peal
OF a load Of transportlns men and
goods. with hardly a perccp;lbie~DDdi'
ton to existing facilities. that may MOI
be equaiied for years. The system q
car floats, no bciittiei IN this report
brings merchandise 20 our docks In al
weathers, storm and icc no, preventins
II one will take n tour by water around
Manhattan and then via south Brrokiyf
and staten Island 20 Jamaica Ray anl
soc the miles OF unused dock front ons
will see how ridiculous are the sasEes'
tione OF congestion. II our barber n a
a disacvantsgs let the recent TESTIMONY
as 20 graft In leasing and policing siv'
an answer. why Is West street nol
properly paved after being widcrsd. and
why is trucking In thu warehouse sec'
tion compelled TO travel over streets ~
rough rs a corduroy roadG
Our present facilities can be improved
our streets and docks made usabis and
adequate. with foresight. inteiiissnc<
and honest administration.
But the plans Of the Port Authority
for the betternent of our city with The
construction of tlie connecting railway
from Piermont to New Brunswick b.
way Of Paterson and Summit. N. y.
show that some one has had a rush OF
ideas to the head. TAxrArtn
NEW YORK, December Is.
The New York herald., 1921-12-17
Close the Holiday LIs,.

TO THx Nrw roex HksxGs q has
been reported tina, ths sons cf the Revo-
luton win petition the Federal ard
State Governments 20 r~s a<ide Annually
January n as a pub'ic holiday ir homer
OF Benjamin Fr&nkiin.
As one who has to work Tor an henesi
living II seems 20 ne that Il n about
time the wholesale declaration oE hoii-
days ceased WITH al the holidays nov
on the calendar We may soon hope 20
hear OF cAhriie Chaplin Lay. MaFy f1ch-
ford and Doug Fairbanks double hois-
day. holiday fgr the poor messenser
boy who has been touchc1 q the auics.
and many others. T. W. W.
SFw YORK, December is.
The New York herald., 1921-12-17
The Finish of Bill Martin.

The president Of one OF the big
surety companies, WILLIAM q. JoYcE,
has sent a circular letter to public
school principals throughout the
United States asking them to aid In
a campaign for honesty.
Mr.. JOYCE, who Is a practical man,
interested in stopping what he calls
a national crime wave, believes that
school children need daily lessons in
the practical wisdom of honesty"
They should learn not only that hon.
esty is the greatest Of all virtues but
that it is "the foundation of all sue
cessful business"
Mr.. JOYCE writes to TIE New yoEI;
HERALD asking approval OF the daily
honesty talks" Surely, IL the chill
dren OF to-day are not learning the
joys OF honesty in the home and the
church, let the school teachers help
as much as they can.
Any school principal can find a
wealth of adjurations and aphorism
on the side Of honesty in the writ
ings Of the great. SENECA and CIc-
ERo, SHAKESPEARE and CERvANTEs,
MoNTAIGNE and RALEIGH, WASHING
TON and FRANKLIN, all have testified
to the virtue and value Of being
honest.
Our own text, however, knowing
the preference of children for the
concrete, would be The Finish OF
BILL MARTIN, which was told in the
newspapers of yesterday.
BILL MARTIN as a boy refused to
believe that honesty is the best pol
Icy and that it's use Is a fine habit.
When he was 16 he was sent to the
House of Refuge for stealing. When
he was Is he was sent to Elmira Re
formatory for burglary. These are
not pleasant places for a boy; being
in prison is much more painful than
studying algebra or splitting wood.
But BILL MARTIN refused each
time on regaining his freedom to
take up the honesty habit. He had
strength enough to be boilermaker
and nerve enough to be a steeple-
jack, but he had lost the taste for
honesty which every child at some
age acquires.
In 1906, when he was 2S, BILL
MARTIN was sent to prison for forty
years because he had returned to
theft. For years he was In Sing
Sing Then a kind hearted Cover
nor, believing that BILL had turned
honest, pardoned him. MABTIN had
spent twenty years-half his life
in prison.
Probably Bill MARTIN meant, as
he left Sing Sing, to be honest. But
he had abandoned honesty in his
boyhood, and the virtue Is hard to
regain. On Thursday night MAR.
TIN was caught robbing house in
Brooklyn and the police, in self-de-
fence. shot him.
II MARTIN lives he will go back to
Sing Sing for twenty-seven years.
He will be white haired, dead faced.
useless old ex-convict II he ever
comes out. lie will have spent nearly
half century in the wretchedness
OF prison.
And all this because one day when
he was boy he thought 1t was
easier to steal something than to
work and earn It. So for twenty
years he has toiled In prison for
nothing and for years to come. prob
ably until death calls him. he will
work on and On without reward,
without friends--withou hope,
The New York herald., 1921-12-17
LEFT 100000 TO CHARITIES.
Mrs. Rebecca Cook Remembered
Patterson Institutions.

Paterson charities will receive $780,
900 by tho will of Mrs. Rebecca Barbour
Cook Of 63s Park avenue. Paterson. who
died on November 81. at AZ. Her estate
is believed to be about $1.000.000. En-
dowment funds OF $4,000 each are to go
To the Passaic County Childrens So
ciety. the Florence Crittenden Home and
the Paterson City Missionary Society.
Paterson General Hospital Is to receive
$4,000 cash. Paterson Orphan Asylum
$4,000. ST. Joseph's Hospital and the
Paterson Rescue Mission $1,000 each.
The residue goes TO her husband and
two children.
The New York herald., 1921-12-17

rhcws that fallen timber In some OF tho
forests out that way Is 10 be used extern
riveiy In the manufacture OF grape stakes
Tor California vineyards. One order for
these stakes Win require. We are told. 100
freight cars for its transportation, but the
best hing about Il Is that II will reclaim
cedar trunks that have been on the ground
Tor years. The difficulty about such recla-
n atioa IN general IL not so much IN finding
''down STUFF that IN sound enough TO be
useful as q Is IN discovering o uee that
VIII make recovery profitable.
The New York herald., 1921-12-17
Daily Calendar
THE WEATHER.

| For Eastern New York--Rain to-day
and probably Tomorrow warmer 10
day, colder tomorrow; strong south.
shifting to west and northwest vjids
For New Jersey--Rain and warmer to-ds,
Tomorrow unsettled and colder. prooabis
Lorthweet winds
For Northern New Eagland-snow to-day
colder Tomorrow; fresh to strong south ;,
west winds.
For Southern New England-Rain or snow
To-day and probably Tomorrow. warTnsr
w morrow; strong north and southwest 20
west winds
For Western New York-Rain and wsrmer
to-day; Tomorrow rain. turning into snow
and much colder; strong southwest to wc.
and northwest winds.
WASHINGTON. Dec iS-The pressure
was normally high to-day over the Atlantic
states ana the Canadian maritime provinces.
and II wes high and rising over the ROCKY
m0untan and plateau regions.
Between these two areas OF high pressure
there was disturbance OF wide extent which
was central over eastern Iowa tonight end
been attended by rain during the last
twenty-f four hours in the southern lake re-
gi3yn, the Missississippi and lower Missouri
Vai!eys ana portions OF the west Gulf States
and by snow In the northern lake regions,
tne north plain States. and the north Rocky
Pressure has also increased decidedly over
Alaska and II was abnormally high In the
fukcn Valley. The temperature has risen
slightly east OF the Mississippi River and Il
has fallen decidedly In the plains States.
the central Rocky Mountain and southern
plateau regions.
The indications are for rain in the Atlantic.
States tomorrow and probably Sunday, rain
turning into snow in the lake region and the
Ohio Valley. and rain Saturday, followed by
clearing Sunday, In Tennessee and the east
Gulf States. The temperature will be higher
IN the Atlantic States and upper Ohio Valley
and the lower lake region Saturday, while
much colder weather viii overspresd the lake
east Gulf States tomorrow night. and lower
temperature is probable in the Atlantic
States Sunday.
Observations at United States Weather
The New York herald., 1921-12-17
PUBLIC LECTURES TONIGHT.
washsssas ss6 The bronx.

..o,,r ne,~tDor. Mexicc.'. by Prof. Nelson
y Mead. Townsend Harris Hall, College OF
the city of New York. Amsterdam avenue
A"u snts,,cs- of warfare. Old and New"
~& u Hu~~e-s~rs ~'fNsrk. ~ American
Museum % Natural History, Seventy y-seventh
~what.. IN the Music," Charlie d. Isaac
son. AZ n. NJ. G. A.. Harlem Branch. 81
W.. tf0re -frres.
s-Ths Comprehensive Devslopment OK tn,
Cooper Institute. Eiehth street and Fourth
m~xatse. Illustrated.
The New York herald., 1921-12-17
New Turn in Belgian Affairs.


GUM had national as well rs an
international interest which no pre-
ceding election had in that the Flem-
tsh question, one OF the Oldest and
most troublesome of the problems
with which the little nation has strug-
gled, was fought over for the first
time as the chief issue by the voters.
The results, which have been re-
Gently officially announced, are sur
prise, for, despite an intensely active
and bitter anti-Flemish campaign,
the new Parliament will be even more
Flemish in character than was its
immediate predecessor.
To appreciate the real meaning Of
this political success 1t is necessary
to take into consideration the fact
that Belgium is divided between two
clearly defined races, the Flemings
and the Walloons. and that the Flem-
ings in the past have been the under
dog. The Walloons live mostly in the
basin of the Meuse, the Flemings in
the basin of the Scheldt; the Wal
looms speak French and are French
in sympathy; the Flemings speak a
language similar to the Hollanders
and their natural affiliations would
be with the Dutch. Although the
Flemings represent about fve-eighths
OF the Belgian population they claim
that they were placed at social and
economic disadvantage, being treated
as second class citizens, and that
French, the language Of the Wal
looms, was the only official and COM
mercial language of the country
That they overcame these disad-
vantages was largely due to the
world war. The Flemings furnished
80 per cent of the combatants in the
Belgian army, yet they had no repre-
sentation, except by a few French
speaking Flemings. on the General
STAFF or in service behind the lines.
Their objection was so forcibly ex-
pressed that the Belgian Government
at Havre feared the effect upon tho
army and promised reforms. The
first evidence of this was the passage
last September of bill placing Flem-
ish on equal footing with French IN
all branches OF the administration
The next evidence of their increas-
ing strength was the recent election,
which gives them the control Of the
Parliament.
The question now IS. Will the
Flemings carry their advantage so
far as to turn oppressors Of the Wal
looms? The danger that Belgium's
neighbors profess to see in this is
the revival of the separationists
who were so active just before the
war. At that time member Of the
Cabinet, NJ. DEsTREE. suggested in
widely circulated pamphlet entitled
"Lettre au Roi" the breaking up Of
Belgium into its two racial units.
There is one strong point against
this the Flemings are not intense in
their desire for union with the
Netherlan nds and they are not able to
stand alone. Their problem, in fact,
IS much more complicated than that
of the Walloons, who, in case OF a
break, would expect to become part
of France.
1t must b. said, however, that the
question OF separation is more seri-
ously discussed outside of Belgium
than within It. To the Belgians the
sepsratists are considered theorists
and the people are inclined to believe
that II the union Of the two races
survived the world war 1t will
also survive the present political up
heaval.
The New York herald., 1921-12-17
TO rREsExr BUsT OF MERCER

A bust OF Cardinal Mercier. who re-
c.lyed an honorary degree Of doctor Of
iaws from New York University Oh i,is
visit 20 this country. will bs presented
10 the university this afternoon at 3
O'Clock by Baron o. Cartier de Mar
chlenne. Belgian Ambassador TO the
United States. In behalf OF a group OF
Be'gian and American citizens. Cardi-
nal Mercier posed for the bust while In
this city. II will be accepted by Cham
csl'or Elmer T. Brown.
The New York herald., 1921-12-17
Use sov rsrsst waste.

From TIE Chrfstsdr scsence honsfor.
Many persons at one time or another
have been struck with the waste Of mate
rial that Ia permitted In American forests
as compared with the care Of Europeans.
as a rule. to make use Of every last twig
that falls. Worth noting. therefore, n the
news item frcm the rscifio coast which
The New York herald., 1921-12-17
other rrss.es..

Aside from thona mentioned. othof
projects proposed follow. grouped by dis
tricis or States.
New Enaiand--Hcston HaFbor. sso.-
coo: Pollock Rlp Shoais S23b.o0o. Paw
tucket River. $4,000. Pawcatuck River.
flo.0o Connecticut River below HART
ford. so.ooo: New Haven Hsrbor. SAL
eoe: milford HRrbor. se.s0o: Bridge
port Harbor. sT0. 900. Port Chester Har-
bor. $4,000: Enas Chester Greek. sls.-
The New York herald., 1921-12-17

The Aarocis'ed Trees ie cxciuriveiy entitled
~ the ufc for republication Of all news des-
patches credited 20 X or not otherwise
credited N thi, paper. and also the iocai
news pubiished herein.
All tights % republication of speciN des-
rs tehcs herein ngo also reserved.
The New York herald., 1921-12-17
GOV. RELY WILL RETURN.
Porto Rice Executive to He Back
an job Before New Year.

WASHINGTON, Dec. ls.-Gov. e. Mont
feily OF Porto Rico will return to his
duties in the island as quickly as set
tlemcnt of his personal affairs in this
country will permit. 1t was officially an
n sunced to-day.
He was instructed TO be at his post by
tlse new year.
The New York herald., 1921-12-17
Franklin's Birthday.
Wage Farmers object 10 the Lsxury
Of Another Holiday.

To TINS Nxu YosK BERALD; beg ~
submit a copy % an Anonymous letter
received hers AZ Frsunces Tavern which
may be ~ Interest In relation u
the proposed osistration q the b'rtiday
os Denlamin FrAnklin
HxNKx hrsaElL DHows.
Secretary sons % the Revoiuiior
Nnw x0Nx Decsnsber 10.
The New York herald., 1921-12-17
rwsssms "a ps~sr-~fiy.

Frp~ fAs ga.ssfeNs fkn~.D opfs~lsf.
FsS~r psopis wsr~ killed st srsss cros4-
inss m IRE 6ays % horse drawn e~nlcl>n
That ~sa nos tsc.u-s p~cpis had nnrs sense
usa hsn thss have now. but e~a~u~~ the
harss has nnsse sers- han an sutomcbIle.
The New York herald., 1921-12-17
LOCAL WEATHER RECORDS.

The temperature In this city yesterday
as recorded by the Official thermometer,
shown In the annexed IA
The New York herald., 1921-12-17
EVENTS TO-DAY.

Highest temperature, 40. at ] p. NJ.
Lowest temperature, 10, at 3:45 A. nj.
Average temperature, 30.
The New York herald., 1921-12-17
rhe Final Proof.

From the Jameson txo) Gem.
II you are disposed to doubt that time Is
money. Just count your pie after you've
had a,ytirne. .
The New York herald., 1921-12-17
Ia m. K.~... c-v~ n-v~l~r Mt.

Frsr fAs s~nh cc~mfy rss~<s..
ecu 10 ~erth nis tau 80 much as enc
corn On ~.
The New York herald., 1921-12-17

THE New YORK HERALD was founded by
James Gordon Bennett in 1885. 1t remained
'ne sole property OF It's founder until his
death. In 1872. when his son. also James
Gordon Bennett, succeeded to the ownership
OF the paper. which remained In his hands
rntil his death. In 1918. THE HERALD be-
came the property of Frank A. Munsey, It's
present owner, In 1920.