The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1921-01-21

the veto. by overwhelming majorIties
In both cases. Mr.. Wilson said the
corporation was war-credit agency,
not desirable or needed In peace
times; and that Its revival would
exert no beneficial influence ON the
situation, but would raise false hopes
among the very people who would
expect most. and would he hurtful 10
the nhtural and orderly processes Of
business and finance" The message
showed that our exports of domestic
products have increased greatly since
the armistice, and that II Is mainly
Europe's inability 10 make payment
that prevents still larger exports. Mr..
Wilson's views were admittedly those
Of Secretary Of the Treasury Hous-
ton. and n good many economists agree
with them; but, quite regardless OF
party lines, most of the members of
congress evidently think otherwise.
Before the revived corporation can
make many loans for financing ex-
ports, II Will be necessary for the
President to fill at least one OF the
two vacancies on the board of direc-
tors. as Secretary Houston. ex-officio
chairman, is TOO busy TO give much
time to the investigation OF the ade-
quacy of securities. In any case. ac-
cording TO officials of the corporation.
| IL will be about two months before
the first loans can be authorized.
10 H..
mittee is trying TO determine the best
method of starting disarmament of
the great powers, having before IL
two leading plans. That OF Senator
| Borah. as Is we'll known. Is TO invite
| Great Britain and Japan 10 negotiate
with the United States an agreement
to reduce their naval building pro
| grams SO per cent year for term
OF years. The proposition has
/ aroused much interest I'm the other
countries named and is approved by
many leading men. In the senate
committee II has been suggested that
France. Italy and perhaps some other
nations, should be included, but Mr..
Borah objects that this would com
| Bht"AN tb' ftdb Dfobhbfs DTllE
In the subject of reduction of
armies.
The other plan before the commit
tee Is proposed by Senator Walsh OF
Montana and supported by senators
who favor the League OF Nations. II
Is In the form of resolution request
Ing the President TO appoint delegates
to represent the United States In the
DISARMAMENT discussions 10 be con.
Quoted under the auspices Of the
league. The "irreconcilables" fear
that this would Involve the United
States In recognition OF the league.
President-elect Harding's Inaugural
tion will not be conducted with the
"Jeffersonlan simplicity demanded
by some of our eminent statesmen
The Knox resolution providing ii fund
OF $4,000 for the expenses of the cere-
mony was adopted by the senate. only
Borah. Fletcher. Gronna. Kenyon.
Norris. Mcclellan, Phelan and La Fol
iettc voting against IL. II may be
that the patriotic citizens who 10 10
the national capital for the dolngs Of
March 4 Will not bee heeced so thor.
oughly ns usual. Senator McCumber
of North Dakota says he will intro
dnce bin TO prevent the charging Of
extortionnte prices by Washington
hotel and restaurant men during In
augurniion week. Nothing has Yet
been decided about an inaugural bail.
but probably one viii be held. and
probably the use Of the great pension
building will be granted for the occa-
sion by congress.
Senator Harding resumed his CON
ferences with leading Americans after
the holidays. bur has not authorized
any statements concerning the results
Of these conversations Neither has
he told any of his cabinet choices.
Indeed. he was quoted the other day
rs saying he had not yet offered q
cabinet place 10 anyone. Just now
the chief interest concerns the posi-
BILE selection of Henry G. Wallace OF
Dies Moines for secretary of agricul-
ture- He Is opposed By the Chicago
| packers and allied interesss 10 Chi.