Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1921-08-17

the call TO the conference. Instead Of
limiting the discussion to disarma-
ment, the far-eastern situation will
be taken up first and then an effort
Will be madesto form an agreement on
the whole maze OF International in
ttrigue which Wassleft unsolved by the
conferences at Versailles. It is very
likely thatssthe diplomats will meet
behind closed doors, instead of reach
ing open covenants openly arrived
at, and, inasmuch as the same ele-
ments which betrayed the hopes and
sacrifices Of the world at Versailles
will again be in control, there is not
the slightest reason for supposing
that any different end will be arrived
at. This is a. cynical view, but it con-
forms to the realities Of the situation
and does not raise hopes which later,
must be doomed to disappointment.
Ladd Proposes Money Bill 3
Senator Ladd, who has rapidly
earned the right to be considered with
LaFOllette as leader of Senate lib.
erals, has introduced a bill Ito estab-
lish an honest money system, to fur
nish equal credit to all instead of ex-
,clusively to banking corporations, to
reduce rates of interest and to en-
courage agriculture. "The bill pro-
vides for issue of full legal tender
money by the government and pro-
hibits the issue of substitutes for
money in the form of credits by bank
ing institutions. 1t would establish a
new loan bureau in the treasury de-
partment to make loans to corpora
tions, farmers and other individuals
at rates of interest not to exceed four
per cent. The deposits OF the Postal
Savings banks would be made avail
able for this purpose and a. branch of
the loan. bureau would be established
in each branch of the postal savings
banks. Full legal tender money, is
sued by the secretary of the treasury,
would be regulated in volume by the
average price level of necessities af-
ter the present period of deflation has
tome to an end. Senator Ladd's bill
strikes directly at the root of the
control of credit and the issuance of
currency by private bankers which is
responsible for many, if not most of
our industrial evils. 1t has not the
slightest chance of passage, however,
for Wall Street interests were never
so strongly entrenched and it is a
safe bet that the bill will be safely
pigeon7holed by the. Senate committee
on banking and currency which is
packed with standpatters.
Shipping Boards Peculiar Ways
Chairman Lasker of the u S. Ship
ping Board wants Congress to give
him $300,000,C00 so he can settle
claims" against the board. In view
of this request, it is interesting to
know that Joseph w. Powell, recently
vice president of the Bethlehem Ship
building Corporation, has just been
appointed by Lasker to take charge
of the claims and accountancy divi-
sion of the Shipping Board. Powell is
the same man who blocked an effort
of the Shipping Board to audit the
books of the Bethlehem corporation
when it had claims of $60,000,000 ag-
ainst the government. He also stop
ped any real investigation of the
charge that his boss, Charles Schwab,
had profited by irregular dealings
with the government. 'Schwab wept
copiously when this allegation was
made, and the prostituted press white
washed him, but the charge was new
err properly pressed largely because
of Powells activities. The Schwab in
terests still have claims aggregating
more than $60,0O0,000 against the gov
eminent, and, to say the least, it is
a strange procedure to select one of
their former: employees, who is still
acting as. "a dollar year man." to
pass on these claims.
: Grain Gambling Bill Emascu'ated
The Senate finally passed the Cap
per-Tincher ~ "anti-grain gambling
bilf," but not before it pretty thoroly
emasculated the measure to make it
inocuous to the great grain gambling
exchanges. The provision which pro-
hibited the use of private telegraph
wires from grain exchanges to bran
ches thruout the country was elimin.
ated after the committee on agricul-