davidaulloa/AmericanStories huggingface dataset:
Washington Journal., 1921-05-27
XII.


9ie 66neeflouen tan5ten obne
Mufb0ren ourb Die Suit. EagelolI9
i9on. IS mai 70, als wenu es nlt)t
nur eine Srnu Sole gabe, Die lbre
8etten idiittelte, lonoern oils oh tau.
ien0 unO mebr bon Der Art Ote1er
tDunoerli1en Yerlon ibre Mobnut.
gen binter ben Molfen bdtten. 9a.
gu mar es lange nod nidt Meibnod.
ten, ion0ern Der ytonember bate
0eraoe o%ngefangen. IS mar eIlle
arg oerfebrte &5eIt, 0aB man rur
ben &opt ihitteIn fonrte.
Srau Auguite job otl Jeniter oes
@obn5lmnlers un0 itarrte 9eOanfen.
boil IN Den mirbelnoen 6lodentalI.
Gb es in @lobitnNen aud 10 ltnel.
en- mo1te2 ODER IN Der &eioe be'
&lare? &iebenmaloe bate ben
@Nneefan nit Der Hei9sbnuptltaot
i1dyer getnein, Oenn es mar ia io5ti
ioeen bolber 8orort bon berlin,
uno Damn, Oh irgenome in Der NSelt
- ia, mo mod)te oos iein?
Die Auget Oes ~perlorenen &inoes.
Dies nnaufb0rliGe Sbiitten, oas
Iautlole 6allen peiber Wallen
beobod)ten muroen2
9ie @eOanten Der linnenoen Srau
tDaren lest oft auf tDelten Nellen.
Son Berlin tutl9lerten tie in olelel
Stunoe nad 9interpommern, in Der
naGlten modten tie 8elude in &ie.
benmaloe. uno baum mteoer tebr
ten lie I'M 9auie aut Der @eioe EN-
ODER maren Ireenowo i'm &anoe mo
tpeit iiber ieine @ren5eu blnaus. SSn
AmerIta mobl ODER lDer weiB NO
0ieie Mrt oes Neiiens par bilig.
Mbcr lie befrleoigte nidt. Mtan
bate nicbts oauon. Ntan fonnte
moreers unO ubenoS in @lobltndJell
fem uno 6wilHenourb mIttugs III
2iebenmaloe, cher man muBte ME,
tpie es lein mod)te uno tpie es mar.
un0 mirtll9e Nelien? Sa. Ell.
nal mareu Die nidt biaig. uno
oann tonute man oob rl1t oauerno
u~nterDe9s fem. Seroinane SpODn
meper miroe lib oos bibid perbe-
ten baber. SGlIeBli1 bate oas
&eiien beut5utage nld)t nur 5pel,
fon0ern fIn1uno5luan5lg Selten. 4u
genblidlid loear iedsunO5wan5l9
ODER el9entliG gar telne Selte. Genp
man bate lit ieit dmel Gagen elne
nette 8ertebrs1perre 5ugele9t.
Grnu Mugulte muBte lest baufi'
ger ooruber lt~ad)oenten, pe.d)en
3med es elgentllb bate, Ginoer gu
bnben, Inn MN poui9 pereinlulnt uuo
ouein gu lein. Gret Sabr5ebnte Jet.
mes Nebens falt bate man bergege
ben, nm lie utter Wtiiben ullo gnt-
bebrungen crop gu 5IeDen, uno nun
tporen einenl DIE Grrpadienen elelh
fam entellttel,, wie 8aliertropIen
Der 9anO entgleiten. Sbr &eben
batte lid pom &relle oes @lternDuu-
les a~byeionotrt uno eigene &reli.
Be3O9ell, Ole HHIl OeHI uElpruHgllu]ell
faum cine Neriibrun9 aufweiien.
&ei1e Sruute bat1en llh 9elolt pom
Mutterbuum. uno es truroe Ibnl
fem @rlag, tein neues Bliiben,
@ahien uno Nelten mebr. Ga tpar
ia ieoe Yflan5e I'M 8or5ug.
Srnu 4uIulte baOerte nit oteiel
@eltoronullg. Sbre tribere Sdwie-
g~eriobuiudDt bate cine merflide Ab,
fiiblung %erfubren. So, es COB
6tunoen, IN oeilen iie lbren Shnie.
.Geriobnen gram mar. neil lie ibt
Ieer geuIad)t batten. llno lie
tonnte ibreln Wtanne nld)t gan5 IN,
red]t eeben, Denn er bebauptete, oab
fie iiA lnr Der Sdpiegeri0bre hoe.
gen perbelratet batten. -
Sn nid)t pom &ooern beimee.
Stunoen, menn iie oaran
oaB Sricoerife uno Gdcilir
nHl ltreblolne W1nner be.
lommen batttn uno aldre oas 2os
The New York herald., 1921-07-18
Small Congregations.
Another Reason Why More People
Do Not Go to Church.

To THE NEW YORK Herald: agree
with the Rov. Henry Sloane Coffin in
what he said Of the cause for slim church
attendance. but he does not touch the
great reason Of all, which, to my mind,
is that In the average sermon people
do not get that for which in their inner
most hearts they are hungering, rich and
poor. intellectual and uneducated alike.
commend to the careful consideration
OF the Rev. Mr.. Coffin and all other
Christian minister's the words of the
Master in Mark xvi: 10. and then those
Of the greatest preacher aside from Him
that ever lived. in the second verso OF
the second chapter of First Corinthians.
But back of the message must be man.
ifest the sincere belief OF the messenger in
it's eternal truth. IL would do no harm IL
ministers should read the sermons of the
late G. ii. Spurgeon ne never lacked
an immense audience, yet his sermons
were of the plainest and most simple.
Jut always of Christ and mans need Of
Him. HENRY r.. NrTcHIE.
WEsrrrELp, N. j.. July 16.
The New York herald., 1921-07-18
Sound Use of Credit.

One of the basic principles otsound
banking, from which the war caused
a wide departure, is the rule that
bank credit, known as money, should
be used to finance liquid transactions
like the actual process of sale of
goods. In recent times il has become
more and more common for banks to
lend against inventories and against
materials in process of manufacture
In some cases loans have even been
made against permanent improve
ments. These are not loans Of money
but of capital. In former times to
confuse the two classes of loans was
to mistake the elephants tail for its
trunk.
Sound theory and, what is more
hard experience teach that when
hanks stray from their proper prov
ince and supply slow moving. long
time loans they act contrary to the
best interests of commerce and work
for their own ultimate downfall. In
the light of this fundamental truth
an article by A. BARTON HEPBURN and
BENJAMIN M. ANDERSON, Jr.. in the
July number OF the Chase Economic
Bulletin, published by the Chase
National Bank, can be read with
more than the ordinary degree OF
profit.
The burden OF this exhaustive
analysis OF one phase of the gold
and rediscount policy of the Federal
Reserve banks is to show that the
rate of rediscount should be above the
open market discount rate. The case
is clearly proved in the affirmative
because the fundamental difference
between advances of money and ad-
vances of capital is recognized.
The article contends, as has SO
often been urged in the editorial col
umns of THE NEW YORK HERALD. that
credit should not he manufactured by
the banks to finance permanent or
semipermanent undertakings or to
enable producers and distributors to
hold their stocks indefinitely for
higher prices. It is one OF the un-
varying rules in all countries where
banking stability is q first requisite
that rediscounting at central banks
should be resorted to only in clear
cases of necessity and not merely be-
cause member banks or private insti.
tutions can make a profit by redis-
counting high interest paper at low
central bank rates. To prevent this
practice 1t has been customary to
The New York herald., 1921-07-18
To Big Bill Edwards.

The wheel hath turned, the hour dotn
knell,
And to the victor goes the spoils
Officially we bid farewell
AS you unite financial coils.
Officially you say good-by,
But you will not be lost to view
Still. still your smile will meet our eye
"v@ victIs' was not writ of you.
HE was as mild a hammered man
So Byron wrote, as you recall.
or one whose very simple plan
Was scuttling ships and taking all.
And you each one of as found mild
AS we forxed forth our income checks
Your manner kindly as a child
As you made us financial wrecks.
vicarious your deeds, we felt.
And there is not the slightest doubt
That 1t was easier to unbelt
SO long as twas to you, old scoutl
Farewell, farewell !---and may your ways
Hereafter lead to pleasant places,
Your days he ever sunny days.
Your hand in life's game catch some
aces!
MAURICE MORRIS.
The New York herald., 1921-07-18

upon the earnings of the involun-
tarily unemployed is still more for
midable. The Chamber of Commerce
puts it at 100000. How much of
this unwilling idleness is the indi-
rect result of strikes is largely specu-
lative. Beyond doubt, if all inter
locking industrial intricacies could
be exposed, it would be found that
many thousands now out of work
have been forced out as a conse-
quence of strikes long continued and
still unsettled.
However that may be, the Cham
ber of Commerce warns the people
of Philadelphia that unless there be
an early end to labor controversies
and a buckling down to hard work
the city will face a winter in which
a quarter OF a million of the inhabi-
tants will have empty pockets and
their credits exhausted.
What holds in Philadelphia holds
in varying degree in other large CEN
tres of population in the country.
In New York thousands of idle men
in the building trades refNse to go
to work at anything less than the
peak war wage scale.
1t is a situation of present folly
and future misery which the Ma
tional Civic Federation is endeavor
Ing to correct by getting employers
and employees together.
The New York herald., 1921-07-18
Strikes Costly to Labor.

Philadelphia Chamber of Com
merce has completed q survey of local
industrial conditions caused by
strikes. Into the merits or demerits
of pending labor controversies the
committee in nowise enters. 1t sim
ply uncovers conditions resultant
from existing warfare and strongly
urges cessation of hostilities.
There are between 10000 and sc, 900
persons in Philadelphia, says the
Chambers committee, dependent on
the wages of those who are now on
strike. They are exhausting their
savings. Their Indebtedness is piling
up. Strikerellef funds are scant and
must become scantier. Many Of the
strikers are Of outdoor occupations,
such as the building trades, in which
cold weather employment is either un-
certain or non-existent. For such as
these, with savings gone and credit
limit reached, there is a winter ahead
bleak indeed unless there be an ad.
justment of controversies.
The committee remarks that with
only modetate building programme
In Philadelphia there would have been
put in circulation there not less than
s25,000,00O through dwelling house
construction alone The amount ac-
tually so disbursed will be only S4.-
100000 or s5,OOO.O0O OF the 100000
600 or s2t.O0O,OOO difference, a large
percentage would have gone into the
now empty, or fast emptying, pockets
of building mechanics and workers in
building material plants.
The number of those dependent
The New York herald., 1921-07-18
1t. HAMON FOUND,
SHELL SHOCK VICTIM.
Man Believed to BE Nephew Of
Slain Politician, Now in
North Hudson Hospital.

young man. believed to be Lieut.,
George Hamon of Ardmore. Okla, a
nephew of Jake l.. Hamon, murdered
political leader, is In the North Hudson
Hospital suffering from amnesia or shell
shock and unable TO tell how he hap-
pened to be wandering about the New
York Central ferry house at weehawken.
N. j., Saturday night. Papers found on
him indicate that he has been under
treatment at the American base hospital
at Neuilly. near Paris. Whether he
escaped from this hospital and found
his way TO this country or whether he
had recurrence of shell shock after
arriving here is furnishing the Jersey
police subject for speculation.
Letters addressed TO Ardmore reIa.
tives said that any loud noises might
bring about a recurrence of his trouble,
and II is thought possible that the thun.
derstorm Friday afternoon affected him.
One of the letters was addressed to r,
Hamon at Ardmore, believed to be the
young mans father. A tag of the
American base hospital was attached
TO his undershirt and he had also a card
marked Medical Department, ". S. A.
@. H.. No. 9ss,6O2."
So far as the police could learn, ths
young man, who was in civilian clothes.
had no. baggage Ardmore relatives
have been telegraphed to. but up to an
early hour to-day there was no response.
Several police officials at the Vice.
hawken station and the physicians at
the hospital tried to get some informa
tion from the Lieutenant, but he only
stared blankly nj them when they asked
if his name WAS Lieut. Hamop
Finally one Of the officers hoping to
arouse him from his coma, asked II he
knew that Jake" Hamon was dead.
The young man opened his eyes, looked
blankly at the officer and repeated all
most inaudiby. "Dead2"
Yes. Do you know him?' the officer
asked. But the Lieutenant closed his
eyes again and all further efforts to
arouse him were futile
The New York herald., 1921-07-18
Political Mayors Come High.

New York's Mayor is the manager
of it's great municipal business af-
fairs, and what this city needs in
stead of political Mayor is a good
business manager Mayor. There is
chance to get the latter kind out of
fusion, but out of straight tickets
there is a certainty to get the
political kind.
A good municipal business mana
ger would not let so many millions of
dollars be wasted in graft contracts
that new schools could not be built to
provide seats for the children and
even old schools could not be kept
in safe and sanitary condition.
A good municipal business man
ager would not waste so much money
on salaries of useless employees that
competent and efficient teachers, po-
Ecemen and firemen could not get
better pay than they do when they
earn it.
A good municipal business man
ager would not bring about a rapid
transit situation where, instead of a
single fare, hundreds of thousands Of
the public were compelled to pay
two, three and four fares.
A good municipal business mana
ger would not force up rents on the
city's population by forcing up the
taxes on rented houses and apart
ments by tens Of millions of dollars.
A good municipal business mana
ger would not make the cost of local
government in peace rival the cost
of national government in war.
A good municipal business mana
ger would get his operating costs on
such sound business basis that
there would be better government all
along the line at a lower cost to the
public which must foot the tax bills,
the rent bills and the cost of living
bills.
Anybody that would rather pay
more for poor municipal business
management than for good municipal
business management-more taxes,
more rents. more cost of living bills
can get as much more as he wants
by helping to keep the Tammany
political grip on the business affairs
of New York.
The New York herald., 1921-07-18
MONDAY, JULY IS, 1921.
Good Figuring for Lloyd George

LLOYD GEORGE, the British Prime
Minister, wrote what looked like an
amazingly frank letter to WOODROW
WILSON proposing round robin OF
cancellation to wipe the slate clean
of ali interallied war debts.
In round numbers the interallied
debts total $4,000, 100000. The
United States lent $4,000, 100000,
Great Britain lent $500, 100000 and
France lent $1,000, 100000. But out
of total loans to foreign Govern
ments the British Treasury lent
nearly $4,000, 100000 to Russia, debt
which now is not worth scrap Of
paper except as diplomatic trading
material. France lent $S00,000,000
to Russia, and this is similarly
worthless possession as far as its
cash value is concerned.
We lent to England and France
and Italy total of about $500, ,000,-
900 and to Russia only about $780,
900, 900. OF the $500, 100000 lent to
the three Powers first named more
than $4,000, 100000 went to England
alone and she relent it to other
countries.
If we had cancelled the $4,000
100000 debt of Great Britain this
would have made up to Great Brit
ain the worthless promissory note
of Russia for $4,000, 100000, with
$1,000 100000 to boot. The actual
British loss by mutual debt extin-
guishment would have been only
s1,500,OoO,0OO
France borrowed $4,000, ,000,0 900,
but lent only about S1,500,000, 900.
She would have gained $3,500,00 900
by the cancellation without counting
her worthless loan of $500, 100000 to
Russia.
The United States borrowed from
nobody but its own citizens. Any
debt cancelled by this country would
have meant dead loss to us.
The Lloyd George letter is the best
Kind or argument in favor OF giving
Secretary MELLON full power to ar
range a settlement of the loan ques-
tion. The British Prime Minister
and his Cabinet have had that power
all along and have used it to what
ever British advantage they could.
We do not say that LLOYD GEORGE
has been doing anything he should
not have done. He would be remiss
in his duty if he failed to take ad-
vantage of an opening which offered
chances of procuring for England a
clean gift OF $4,000. 100000 or any.
thing else. But we do say that the
next time the subject comes up.
whether by letter from LLOYD GEORGE
or in the regular course of the Treas
ury business, somebody in our Gov
ernment ought to have the authority
to say definitely what we purpose
to do. The logical person to possess
this authority is the Secretary of
the Treasury.
The New York herald., 1921-07-18

LA GUARDn. candidate 10 head a
straight Mayoralty ticket against
Tammany. has put out the platform
on which he wants to run. There are
some good points in his platform as
well as some bad points. But IL 1t
were 100 per cent. good, instead of
splitting fifty-fifty sense and non
sense. possible things and impossible
things. what could it amount TO with
out voters enough i'm such situation
to elect the ticket and without capac-
ity enough In such a man 10 fill the
Job?
The New York herald., 1921-07-18
copyright, 1891, by THE NEW YORK HERALD
Special Cable to THE New YORK HERALD.
New York Herald Bureau,
Iandou ,July IL.

New York Herald Bureau,
London, July IL. }
The London season closed this week
with the Eclipse Stakes at Sandown. and
society is now turning it's attention to
yachting and making arrangements to
attended the international six meter re-
gatta the first week I'm August at Cowes.
Ihe royal family will be present ana
there will be the usual brilliant enter
tanning. Mrs. George Harvey held an
other successful reception at the Ameri-
can Embassy this week.
Among many notables attending were
the Brazilian Ambassador and Senhora
da Cana, the Chilean Minister and Sc
nora Edwards, T. -Nagai and his wffe OF
the Japanese Embassy; Sir Clement and
Lady Kfnloch-Cooke, Mrs. Edward j..
Lugard, Col Sir Courtauld Thompson
and his daughter. Wenifred, Mr.. ana
Mrs. Griffeths Masten- Mrs. Asquirn,
Mrs. w. X. Clifford. Sir Fisher and Lady
Dixie, Mrs. Hare Lippencott, Mr.. and
Mrs. Benjamin Lathrop, Leut.-den. Sir
Tom Bridges and Lady Bridges, Mr. and
Mrs. Pendleton Sheldon. Capt and Mrs.
Conyers Long, Lady Maffwell Lyte, Lady
WOOD, Sir Samuel and Lady Hiliwood.
Mr.. and Mrs. Urban III. Broughton, Mrs.
William Disston of New York. Mr.. and
Mrs. Hollwell Irwin, Mr.. and Mrs. +. b.
Midway, DR.. Joseph A. Blake, Mr.. and
Mrs. Ormeb Clarke, Mrs. Percy lie Roy
Fearn, Lady Isobel Margesson and her
daughter Miss Margaret Rowe. Mrs.
Branscoinbe Wood, Mr.. and Mrs. Mar
shall Field. Mr.. and Mrs. Bliss Lane,
William White, William Whitney An
drews, first secretary Of the American
State Department who Is in England on
his way to Egypt Mr.. and Mrs. Walter
Hitler Mr.. Wesley NJ. Swift, Mrs. Archi-
bald Roosevelt, Miss Emily Roosevelt,
the Misses Katherine and Alice Allen,
Miss Agnes Means, Mr.. and Mrs. Post
Wheeler. Sir Maurice and Lady de Bun
sen. Commander White. U. S. N, and
Major Solbert.
Before the reception Ambassador and
Mrs. Harvey were entertained at lunch
con by Marquis and Marchioness Cur
zon, and In tho evening they dined with
Mrs. Saxtar Nobel. They are spending
the week eni with Lord and Lady Sand
wich at Hinchingbrooke, where the Am
bassador went after inspecting the
American airs!ip at Cardington Satur-
day.
Mr.. and Mrs. John c. Wildwood and
their daughter of New York are at the
Hotel Carlton. Other arrivals at the
Carlton include w. d. A. Anderson OF
Philadelphia, NJ. u. Berney OF For'
Worth. Tex. and Mr.. and Mrs. Charles
Clarke of San Francisco.
Major Robert Hyatt. assistant mill
tary attacne at the American Embassy
is planning t. leave for Washington, to
remain permanently. Mr.. H. Butler
Wright, counsellor of the American
Embassy, end Mrs. Wright have gone
to Lisbon on ,eave.
Residents OF New York at the Ritz
Hotel include Mrs. Felix Hayden. Mr.
Andrew Brown, Mr.. and Mrs. Alexander
Brown, Mr.. f. .. Richmond, DR.. Joseph
The New York herald., 1921-07-18

keep the rediscount rate above the
open market level.
Until we develop in this country a
broad money market like that in Eng
land there always will be ground for
controversy over the policy to be
pursued by the Federal Reserve
Board in its regulation of credit.
Only by getting at the bottom facts
Of our financial structure, which,
so far as the money market goes,
rests on tripartite foundation OF
commercial paper, acceptances and
line of credit advances, can there be
even the barest idea of what redis-
count rates should be.
The article in the Chase Economic
Bulletin brings out these facts and
analyses them. It's conclusion favors
neither high nor low interest rates
but a rediscount level brought about
naturally on the basis of open market
quotations.
There may be difference of opinion
among banking authorities on the
part that gold holdings and reserve
ratios should play in the rediscount
policy, but there can be no wide diff
ference of sound opinion on the score
of the strict elimination of capital
loans from commercial banking.
Whether by the influence Of redis-
count rates or by simple discrimina-
tion in loans, the closer our banks
stick to the seasoned practice OF
financing only liquid transactions,
leaving the rest to the functions OF
the bond and stock markets, the
sooner will a broad money market
develop and the more secure will our
banking system be made.
Legislators who believe the Fed
eral Reserve banks ought to be used
to alleviate all sorts Of economic ills
which call for loans of capital over
extended periods can do nothing bet.
ter for themselves and for the coun-
try than to study the facts set forth
hy Messrs. HEPBURN and ANDERSON.
The New York herald., 1921-07-18
Reckless Forest Devastation.

Spendthrifts with their money,
spendthrifts with their natural re-
sources, the American people are 60
ing to face want, not in the old age
but in the mature years of their
nation, if they do not soon mend
their ways.
In a recent bulletin Colonel GREE
LEY, chief of the Forest Service,
United States Department of Agri-
culture, showed with a simple exam
pie in plain arithmetic what our
reckless devastation of woodlands in
the United States is costing one COM
munity alone in dollars and cents on
the single item of freight bills.
In the last thirty years Chicago
has averaged receipts of 100000, 900
feet of lumber a year. In 1920 the
quantity was 2,500,000,000 feet, of
which so per cent was used in local
construction and manufacturing in
dustries. Thirty years ago the freight
paid on lumber delivered in Chicago
averaged SO a thousand feet. Now
that average is up to s12 thousand
feet.
This lumber freight bill of Chicago
Is not four times higher to the thou
sand feet than IL was in 1890 be-
cause the railroad traffic rate Is four
times as much. 1t is up to $12--rep-
resenting an increased transportation
tax of $22,500,000 a year on 2,500,-
100000 feet of lumber shipped into
Chicago-very largely because as
nearby timber has been obliterated
the thousands of trainloads of lum-
ber have had to be hauled from
more and more distant territory year
after year.
But in the adjoining central and
lake States there are now 100000
acres of lands long ago denuded of
their trees but since used neither for
farm crops nor for timber raising.
The stupendous traffic toll paid
every year by Chicago for lumber
hauled to-day thousands instead Of
hundreds of miles would have planted
millions OF acres of those now useless
forest lands with forest trees. Re-
forested years ago and properly cut
over in the next generation, those sur
rounding millions Of acres of natural
timber land would take care of the
lumber needs Of Chicago's vast con
struction and manufacturing indus
tries. But little or nothing has been
done. The opportunity has continued
to be neglected, the waste has gone
on--"Eat, drink and be merry. for to-
morrow we die"
What is true Of Chicago Is true OF