Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-11-04
Scraps ana 5aets.

The total public debt on September
80 stood at S23,924 los, ,125.06 while
October 81 the total was $23,459,14S
4s659, making a decrease for the
period of S464 959, ,62S47. The heavy
decrease in the national DEBT during
the last month, officials said, was ac
counted for by heavy redemption Oh
government securities. Nearly $fVo'-
0O0. 600 worth of treasury certificates
were retired while the usual treasury
financing was omitted October ID ana
no1new certificates issued until Nov
ember !.
Reductions of one per cerft in re-
discount rates of Federal ReseVe
banks at Chicago, st. Louis, ano
Kansas City and of one half per cetit'
at the Reserve banks at New AoEh,
PHILADELPHIA, Richmond, Atlanta anu
San Francisco have been announced by
the Federal Reserve board. New rates
atsfhe eight banks making. reductions
are as follows: Four and one-halt
per cent, New York and Philadelphia
five per cent, Chicago, ST. LOUIS,
Kansas City and San Francisco and
five and one half per cent, Richmond
and Atlanta. The rates in force at lhe
banks which have not been changed as
vet are: Five per cent, Boston; hVe
ana one-half per cent, Cleveland, ana
six per cent. Minneapolis and Daiias;
The reductions were accompllsheu
through applications made by the va
rious banks and the directors OIL the
Boston, Cleveland, Minneapolis anu
Dallas banks are expected soon TO me
such applications. Conditions of the
reserves of the banks and the general
situatfoni-in the money market were
zSsa l,a fOr the rCQuc-
tions.
Washington, November 1:-Sales
tax proponents in the senate claimed
tonight to have close TO the neces.
sary majority to put through one OF
the three alternate plans oHered Dy
Senator Smoot, Republican. Utah, as
a Substitute for the miscellaneous eX-
cises contained in the pending tax
revision bill. Canvasses, of the senate
made tonight while the luxury and
nuisance taxes were under debate,
were, said to have shown at least half
of, the total Republican membership
prepared to support the sales tax.
Senator Smeot claimed also q number
of Democratic supporters. Those be-
hind the Smoot plan said their calcu-
lations tonight gave assurance OF not
less than ~ Republicans and three
Democrats, or only four short or
majority of the senate. Counting the
number of senators now in WashlnS-
ton, they claimed to have close TO
enough votes to carry them to victory.
A more official, but incomplete can
vass, of the Republican membership,
showed 29 for the sales tax, and only
seven against, with five doubtful.
Sales tax advocates have been con-
ducting quiet but earnest campaign
in the senate for several days. This
was followed tonight by q charge from
Senator King, Democrat Utah. that
the tax bill was being stripped of the
miscellaneous excises with view to
making a sales tax more logical.
Great Britain. it was indicated in
authoritative quarters Wednesday, ac-
cording to a London dispatch, VIII
reply to the recent note of NJ. Chich-
erin, foreign minister of Soviet Rus
sia, offering conditionally to assume
the debts of old Russia up to 1914, by
the dispatch of a note pointing out
that the, Soviet's offer mentions only
the imperial state debts which are
only a part of the Russian total. /;
will also set forth that the conference
to establish peace, desired by the
Moscow government, would be possible
International consensus of opinion was
obtained regarding the policy to be
pursued toward Russia's Indebtedness
The British note, which will be for
warded this week, will ask for FUR
ther details as to the general char
acter of the Soviet Offer In ofhclal
circles it was asserted today that the
offer from Moscow had not resulted in
spirit of hOpcfulneSs regarding the
Russian debt but was taken as merely
another step in the steady progress
toward establishment OF Anglo
Russian relations. which started with
the signing of the trade agreement
Great Britain, 1t was stated, Will con-
tinue to cooperate with the other ma
tions regarding the debt and will ad-
here to the decisions of the recent
Brussels conference which, IT is de-
clared, the Soviet has misinterpreted
At its national convention in Kan
sas City, Mo, this week. the American
Legion elected Hanford McNi5er oi
Mason City, Iowa, TO be national com.
mander. vice John G.. Emory of Crane
Rapids, Mich, who succeeded TO the
position on the death of f.. w. Gal
maith. The next meeting of the con-
vention is TO be held in New Orleans
A resolution was adopted declaring foI
conversation for eX-serVice men. Also
the convention went on record with a
demand for the return Of Grover CleVe-
land Bergdoll, and opposing the pardon
of Eugene V. Debs. Colonel George
Harvey was discussed at some length
but resolutions of severe censure were
voted down or the strength of a state
ment Of a member who said that he
had heard Harvey's speech and that
the speech had been misquoted. This
member claimed that the sense OF Har-
veys speech was that we went into the
war when we did because we realized
that otherwise we would have to fight
Germany alone after the Allies had
been licked. Following is the text of
the substitute resolution that was
adopted: THAT the sentiments eX-
pressed by George Harvey, United
States ambassador to Great Britain, in
his Pilgrim day speech, setting forth
the reasons for Americas entry into
the world war and the cause for which
America fought, does not represent the
1trne American attitude as interpreted
by the American Legion; and let it be
known for all times that America
fought not only for the maintenance of
Americas rights, but for the freedom
of the world and that a copy of this
resolution be sent TO the president of
the United States
Washington, November 1.-The
Democratic party chose former Rep