The producers news., 1921-11-25
DELEGATES OF s POWERS ATTEND
CONFERENCE TO LIMIT ARNIAMENTS
WASHINGTON LETTER.

900, 900 pounds yearly In interest OF
the debt owing the United States. Al
present rates Of exchange this pay.
ment will amount to about $500, 900, cot |
year.
L The British debt to our governmen3
now amounts to $4,166, 900 in principa
and on November Is, 1921 there will be
over s5OO,O00,000 Of !. interest over
due.
The two governments evidently hae
some understanding on this point pre-
viously because. in the estimate O
treasury receipts presented to tbs
Ways and Means committee OF the
House by Secretary Mellon there wal
an item of $225, 5000, ,00o under the head
ing of interest on foreign obligations
None of our other debtors are nkel,
to pay anything to speak Of during tht
coming year.
DEMOCRATS OPTIMISTIC.
Cordell Hull, new chairman Of the
National Democratic committee, has Is
sued a statement rejoicing in the re
cent democratic victories. And there
were many to rejoice over. the most
spectacular of which was the re-elec
tion Of Mayor Hy1an OF New York City
by 100000 majority.
Hylan's victory can in part be laid
to somewhat open stand against pro
hibition, but there is also undoubtedly
e%~o ~ ant nc oiy1o |
the republican party for its conduct at
Washington. Among those not well in
formed, the existence Of acute hard
times also produces a reaction against
the party in power.
There are many signs indicating that
the interests which dominate both par
ties, are forcing the republican admin
istration to do many things politically
fatal, such as continuance Of our mill
tary program, wiping out Of excess
profit taxes and reducing taxes on
large incomes, neglecting the returned
soldiers, continuing private control OF
our railways, ETC. The interests feel
that they can do these things safely
because they can fool the people by
bringing out the cid democratic party
again.
II there is a fusion Of the two old
parties to meet new party formed to
expose concealed representation OF
special interests in the other two, the
democratic party will be the enc to
survive. The so-called solid south
built up by working on the alleged ne
gro menace will stand for reactionary
policies long after farmers and work
ers in the north cease to be fooled.
The pickings for machine democrats
Look good for long time to come.
RUSSIA PROTESTS ExclusIoNa
The Russian department of foreign
affairs has sent us note protesting
exclusion from the disarmament con.
ference and warning that she cannot
abide by the decisions Of such body
in which she has no representation.
Several senators have expressed the
| view that so important country
ought to be included in world con-
ference.
"It is preposterous," said Senator La
toilette, *'that one of the largest peo-
pies and greatest countries in the
world should not even be invited to
participate in conference which is
represented as being called to bring
about peaceable solution Of the
grave international problems which
make for war;
Our state department is expected to
ignore the note. There are several
reasons why Russia could not be in
vited. The conference will be one OF
rival imperialisms whose one hope OF
| getting away from each others
throats will be re-division Of spheres
of influence in which Russia, China,
! and other lesser nations are to be
| carved up. Russian delegates, having
no inperialistic aims, would be able to
expose the whole conference from the
inside.
A new war against Russia. has just
been started from Polish and Rouman-
| ian territory for which France and
England are responsible. Working
men in France ;,ave been striking
against the manufacture of military
/ supplies for the new war, a rare illus
| tration of the growing solidarity OF peo
pies as distinct from governments.
x
DEMOCRATS CHOOSE HULL.
Cordell Hull, member of the con
gress for IA years from Tennessee,
/ has been. chosen chairman OF the dem
ocratic National committee, and as
such will be the chief factor in out
lining policies and methods. OF the
democratic party for the future.
/ Democrats feel that they have q
( chance to come back in the nextNcon
gressionai elections because of tgener
al dissatisfaction over conditions Hull
/ however, represents the reactionary
| wing Of the party rather than the Bry
an McAdoo wing, and as such differs
from G.. O. p republicans only or
1 matters OF little general Importance
i All leading democrats express them
selves as we'll pleased with the selec
Jon, but such public concord is par'
4 If the party machine system.
The Equity Cooperative Exchange
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