davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-06-18
Latvia's Financial BIunder.

Just as if the events OF the last
fifteen months had not taught the
futility of the printing press and
paper money as remedy for eco
nomic ailments, the Latvian Govern.
ment. controlling one of the new
Baltic States, announced in March
that it would increase the quantity of
Lettish currency by 1,100,000,000 ru-
bles, bringing the total outstanding
UP to 100000, or about 1900
rubles per capita. The money was
not to be used to pay ordinary Gov
ernment expenses but for expendi-
lures in reconstructing industry, for
loans to business institutions and
astonishing to relate!--"for combat.
ing the high cost of living"
Trade Commissioner GROVES at
Riga repo-.s that the first effect of
the eannoU-cement was sharp drop In
exchange The Lettish ruble dropped
from the value Of 200 for dollar to
ESQ in two days, March Is to II. BY
April Is it had dropped to the value
of 362 rubles for a dollar, and by
April % 400 rubles for q dollar, or
exactly half the quotation value on
the date Of the announcement.
The effect of the decline in the for
eign value of the Lettish ruble caused
q slump in it's domestic value. Ce-
reals went up 22 per cent, wheat
flour per cent, coarse bread 90 per
cent, white bread 61s per cent, pota-
toes 33 per cent, meat II per cent,
butter per cent, lard per cent.
and sugar per cent.
AS the decline in domestic value
of currency is always slower to regis
ter itself than the decline in the for
eign value, probably the rise in prices
will be much greater in the months
to come as the increased quantity
Of printing press money gains wider
circulation.
This increase in paper money was
chosen as the best means of financing
large stocks Of timber, fax and hides
and of taking up the railway deficit
Of 100000 rubles for 1920. In one
sense the Government was justified in
issuing some form OF Indebtedness
against the commodities. Eventually
they would be sold and the debt liqui-
dated. But, as many countries now
sadder and wiser have learned. the
poorest way to finance immovable
stocks and, above all, railway deficits
which will not be amortized out Of
earnings for years is by issuing pa
per notes. Such fiat money issa de-
mand obligation of the Government
secured by no liquid assets. 1t hoists
prices. costs and wages at the same
time as it encourages extravaganza
and cuts down production.
Latvia's fiier in paper money will
bring bitter lesson.
The New York herald., 1921-06-18
Motor Cars for Thoroughbred.

When most of the racing near New
York city was at tracks in the vi
cinity Of Coney Island the horses
were stabbed at Sheepshead Bay
Gravesend or Brighton Beach, ant
they were walked from their quar-
ters to keep their engagements. II
shipping them to Saratoga It was
the custom to put them on board
boat at Fort Hamilton. No owner
thought anything of walking his
best horses the necessary distance
In the days of racing at Monmouth
Park, near Long Branch, in oppo
sition to Brighton Beach, horses were
frequently sent by boat to Atlantic
Highlands and walked to the course
returning the same evening and tax
ing part in the racing at the Coney
Island track the following day.
The custom Of shipping horses by
motor van originated in France. II
has been found necessary to adopt
it recently in England because OF
the coal miners strike, which has
caused racing patrons to turn to the
motor for freight as well as passen'
ger transportation. To such an extent
has it caught the fancy Of English
horsemen that predictions are being
made that the new method will soon
srpplant transportation by rail. The
English meetings are Of only few
days duration, and the shipment Of
race horses has been paying bust
ness for the railway companies.
A remarkable record in the way
OF endurance prior to hard race
and illustrating the fact that the
horses of former days were not pam.
pered was made by the noted Cana
dian owned two-year-old Martimas
when he won the Coney Island Flu
turity Stakes in 1898. This colt was
shipped from Saratoga on the Sat
urday before the race and arrived
in Weehawken over the West Shore
railroad on Sunday at noon. He and
tie rest Of the Hendrie horses
were walked from the West Forty
second street ferry in New York to
Sheepshead Bay. Coney Island, piloted
by boy who lost his bearings and
took the animals miles off the
direct route. They arrived at their
stables long after dark, and it was
asserted they had covered more than
thirty miles in making the trip.
Martimas ran on Tuesday and won
a superb race after being at the post
more than an hour. That he suffered
no harm was shown when he fin
ished first in the Flatbush Stakes the
following Saturday but was disquali-
fled for foul.
The New York herald., 1921-06-18
28 Bands footing Now in Princeton
Many Classes Return for Reunions and Fill University
Campus With Color.

Special Despatch to THE NEW York HERALD.
PRINCETON, June IA drizzling rain
had no effect on the ardor of the
hundreds of Princeton alumni who
were returning here all day for
the 174th annual commencement. The
campus was full of color and sound.
The color was supplied by costumes of
the twenty-seven classes which returned
to celebrate. orange and black being the
motif. Gay Mexicans and circus clowns,
artists and cowboys, all in the colors of
Old Nassau, made a brilliant spectacle.
Each class brought its own band. and
the blaring of all twenty-eight made a
racket
The formal exercises will not begin
until tomorrow, but there were two fore
runners to-day. The first was when the
sophomore class paraded down Nassau
street In the top hat and cane parade.
celebrating their entrance in the lofty
estate of juniors. The evening saw all
freshmen In brilliant blazers parade
down Prospect street past the upper class
clubs, demonstrating that they could
now wear other colors than the gloomy
black which has hitherto been their
garb.
The reuniting classes gathered to-
night in all kinds OF quarters. princi-
pally circus tents Here the boys. many
Of them gray haired. spent the best part
of the night in talking over old times.
The oldest class reunion is that of
1851, but the Oldest class present was
one man, Judge Bennett Van Syckel Of
Trenton, a graduate In is4e. and the
oldest living Princeton alumnus. Judge
Van Syclxel never misses the commence
ment season here.
The other classes holding formal re-
unions are II, '76, 'Sl, 'S6, 81, 'SS, '94,
90, '98, '01 and every class from 1904
on. There are also many members OF
other classes which reunite anywhere
they happen to meet.
Tomorrow will see the reunions in
full swing, with many attractions, among
these being a clash on University Field
between the teams of the Daily Prince
tonidn and Yale News, the two college
dailies. This is expected to anluse a
large crowd. At IL o'clock come the
annual Junior oratorical contest in Alex
ander Hall and an alumni luncheon. AT
! 80 p. NJ comes the annual alumni
parade to the Yale baseball game on
University Field. Senior singing on the
steps of Nassau Hall and a performance
by the Triangle Club in the Casino Will
provide the evening entertainment.
In the past year Princeton Univer-
sity's endowment fund has received ad-
ditions amounting to s511,63791. ac-
cording to statement issued by the
committee in charge through Henry b.
Thompson of New York. chairman. Mr..
said in his report that with
this increase the total subscribed now
reaches $3.50, O,601.04, OF which more
than half. or s4,592.s56.65, has been
paid In.
The New York herald., 1921-06-18

Eyre was Miss Emily Hall Janney.
daughter of Mrs. Mario Mantu of Turin.
Italy.
Andrew j. Mellon. Secretary OF the
Treasury, has taken Barton Lodge for
the summer and will shortly arrive from
Washington with his daughter, Miss
Ailsa Mellon.
Mrs. Andrew J. Christian. who is at
her cottage, Glenburnie, viii shortly be
joined by Mrs. Thomas Carter of Rich
mond.
Mr.. and Mrs. William NJ Habliston
have arrived by automobile from Rich
mond.
DR.. and Mrs. George NJ. Gushing and
Mr.. and Mrs. Charles A. Bowman ar
rived to-day from Chicago.
Mr.. and Mrs. Walter Z. Jelliffe. who
arrived early In the week from New
York, were among those on the long
golf course this afternoon.
Mrs. Gerald L. Hoyt of New York
and her daughter. Miss Gertrude Hoyt,
drove today to Warm Springs.
The New York herald., 1921-06-18
Preferred Dividends.
An Inquiry as to the Meaning OF
"Preferred."

To THE NEW YORK HERALD: IL is
certainly remarkable that at the first
Whit of bad times so many companies
should be obliged to pass their divi-
dends. The reason generally given is
the necessity for conserving cash.
This does not eeem to me always
legitimate. Take the case OF a company
which has been paying dividends on both
preferred and common stocks and sud-
denly ceases to pay on either. con-
tend that sufficient earnings should have
been appropriated to take care of the
preferred dividends for a year at least
in advance.
A preferred stock is in the nature OF
a bond. that is to say, an investment.
and as such should be protected as far
as possible from the ups and downs Of
trade. The cumulative feature as ap-
piled to dividends does not always pro-
tect as / know from my experience.
NEW yonK, June IT. INVESTOR.
The New York herald., 1921-06-18
Passing of the Indian Nations.

The newly appointed superinten-
dent of the Five Civilized Tribes of
Oklahoma, VIcToR M. LOCKE, Jr., re-
Gently announced that he hoped soon
to wind up the tribal affairs of these
Indians and take the final steps nec-
essary to obtain for them unrestricted
citizenship. For this action much
preliminary work had already been
done by Mr.. LocKE's predecessors. In
cidental to this work and through
the examination of records and ira
ditions of these the most advanced
of the Western red men there was
uncovered much interesting and lit.
tie known Indian tribal history.
If the wishes. if not in most cases
the plans, Of these Indians had been
carried out the United States might
have had five Independent States near
the centre of the continent. When
they were removed from the east
they all, it appears, had an idea that
in their new home they could build
up nation to suit their own ideas
of government and be in a measure
independent of the United States.
Most of the tribes had lived near
the white men and they had picked
up a considerable knowledge of civil
lized ways and governments. This
was especially true OF the Cherokees.
who had printed language which
had been developed by their chief
tain, SEoUoYAH, one OF the wisest of
Indians. Many OF these tribes had
made treaties with the English in
Colonial days and they united with
the royalists in the Revolution. All
of them had troops which in the
civil war fought on the side Of the
Confederacy under clearly defined
treaty agreements.
The Cherokees very early substi-
tuted the word nation for tribe. They
set UP republican government of
their own, with chief or President,
a Senate and a House of Representa-
tives, and they established schools
and colleges for the perpetuation of
their language, customs and history.
The Choctaw nation was divided into
four districts. governed by peace Off
GERS and Cabinet of four Senators
elected by popular vote. The Creeks
and Seminoles had q clan or tribal
government. The Chickasaws origi-
nally had monarchical form of gov
ernment. with King who exercised
autocratic control over his subjects
and maintained somewhat pre-
tentious court. The royal line be-
coming extinct, the great Chief Trsu-
oMINGo. after whom the county
seat of Johnson county wue named.
ruled. In 1869 this American king
dom was overthrown by its subjects
and a republican government with a
constitution was firmly established.
The records show that the Five
Nations furnished about 5000 sol.
diers TO the Confederate States. This
was double what they furnished TO
the Union forces. The reason that
they favored the South was that
most of the nations were slavehold.
ers and also that the Indians had
lived in the South before their west
ern immigration. A few days ago a
The New York herald., 1921-06-18
Co-Insurance.
The so Per Cent. Clause Explained
by Experts

To THE New YORK HERALD: Sub
scriber" has written to you about the
so per cent. clause on insurance poll
cies. and thinks IL means that when he
pays for $4,000 Of Insurance he re-
ceives beneft from only $4,000. lie Is
wrong about that.
Ii he has $4,000 OF insurance he
gets benefits from the full $4,000. IL
he has $4,000 value and $4,000 loss
he collects the whole $4,000. If he heede
the injunction printed on the filing back
OF all policies TO have all of his insur-
ance concurrent. and he maintains In
surance equal TO so per cent. OF his
value. he collects his whole loss up
10 the amount OF insurance he carries.
W. S. BARTON.
NEW YORK, June IL
The New York herald., 1921-06-18
A Woman Pay Alimony?
Has She Received Equal Contribut.
ing Priyllegesf

To THE NEW YORK HERALD: VIII any
of your veteran readers tell me what
cases are there where women have had
TO pay alimony and counsel fee? Also,
II there are any known convictions un-
der the white slave act. where a son
has been enticed under promises OF re-
ward to leave tho State by a woman.
AS n mother I believe in equality of
rights and suffrage-also equality pun
ishment for crime.
Mrs. c. DE LANcpY.
SPRING LAKE. N. j., June IL.
The New York herald., 1921-06-18
Resort Notes.
Hot Springs.

Special Despatch to THE NEW YORK HrkAtD
HoT SPRINGS, Va. June 11.--Williani
c. Redheld. Secretary Of Commerce un-
der President Wilson. arrived to-day
from New York and addressed the morn
ing session OF the Virginia Bankers AS
sociation. now in session here. George
Livingston, chief OF the Bureau OF Mar
kets, Department OF Agriculture, ar
rived to-day from Washington and also
made an address. Three hundred MEM
bers OF the association are in attend
ance.
Mr.. and Mrs. James Vaudeville Car
Isle, who are at Rosemary cottage,
registered to-day at the clubhouse.
Mr.. and Mrs. i. Beverly Eyre. Jr.,
arrived to-day from New York to pass
their honeymoon and this morning reg
istered at the clubhouse for golf. Mrs.
The New York herald., 1921-06-18

there are areas which 1t is hoped will
be left in their natural state to help
in the work of conserving our supply
of water fowl. The establishment of
artificial preserves by private indi-
viduals is recommended, while re-
strictions placed on hunters by linn
iting the bag have been found help
full in preserving the game.
The New York herald., 1921-06-18

New York city's high school base
ball champions meet the best of Chi
cago's school system to-day on South
Field to decide the mastery of the
two cities. The New YORK HERALD
welcomes the visitors, and hopes the
town will put its best foot forward in
the matter OF weather. Our confidence is
pinned on the nine from George
Washington High School. but IL the
team from Chicago's Lane Technology
wins We shall not repine. This game
o. baseball will be worth watching.
The New York herald., 1921-06-18
Daily Calendar
THE WEATHER.

For Eastern New Yorl--Partly cloudy
to-day; tomorrow fair, not much change
in temperature; moderate fresh. shifting
winds.
For New Jersey-Cloudy to-day: to-mos-
TOW PROBABLY fair, not much chance IN tenn
perature; moderate. shifting winds.
for Northern New England--Cloudy to-day,
10 morrow fair, not much change I'm tenn
perature; moderate winds, mostly northwest.
For Southern New England-Cloudy to-
DAY; Tomorrow fair. moderate temperature;
moderate to fresh shifting.
por western New YorlS-Cloudy to-day; to-
morrow probably fair. moderate tempera-
tnre; moderate, eastsrly winds.
WASHINGTON, June 1.-THE disturbance
over the northwest Caribbean Sea was still
central near the cost OF Honduras tonight,
apparently moving slowly northwestwnrd
IL has been attended by strong shifting
winds over the northwest Caribbean Sea
during the last twenty-four hours.
Pressure was relatively high over the
lower Mississippi Valley, the cast Gulf
States, Florida and along the Pacific Coast
and low over all other regions. Local show
ers have occurred within the las, twenty
four hours in the middle Atlantic States and
north Atlantic States. tho upper Ohio Val
ley and the lake region and the north Rocsy
Mountain and north plateau regions. Else
where the weather was generally fair.
The temperature was lower in the north
portion OF the middle Atlantic States and
higher in the north plains States, Nevada
and Oregon. Readings were considerably
above normal Friday night almost generally
east OF the Rocky Mountains except II he
middle Atlantic and north Atlantic States
and the lower lake region.
The outlook is for mostly fair weather
without material change In temperature to-
morrSW ts and sunany in the States east q
thundershowers are probable in the South
States.
The New York herald., 1921-06-18
LOYALTY LEAGUE SENDS
CHEERING RADIO TO SIMS
Proud of Your Courage
Says Message.

a wireless message of approval Of the
sentiments recently expressed by him
was sent yesterday to Rear Admiral
William s. Sims aboard the Olympic b.
the executive committee of the Allied
Loyalty League, following meeting OF
the committee at 3i7 Fifth avenue. Tho
message read
"sims. Olympic:
"The Allied Loyalty League is proud
of your courage in expressing the scnti-
ment of millions OF your fellow country
men. The union OF the English speaking
people means the peace OF the world
The message was signed by Mre.
Charles Il. Ditson, Mrs. Edward McVic-
kar Mrs Joseph Hamblon Sears. Mrs
Charles Melville Dewey. Miss Margaret
Lawson. Richard NJ. Hurd, Walter ~.
Maynard and William Matthews sullivan.
The New York herald., 1921-06-18
White Sulphur Springs.

Special Despatch to THE NEW YORK HnRALD.
WHITE SULPHUR SPRINGS, w. Va,
June 17.--Mr. and Mrs. j. Philip Benk-
ard, who were married in New York on
Wednesday. arrived this morning.
Mr.. and Mrs. Victor r. Kaufman ar
rived from New York to-day.
Among those on the walking trails
to-day were Mrs. Daniel Bacon of New
York. Mrs. Harold A. Howard of Chi
cago. Mrs. Thomas Rutherford of Rich
mond and Mrs. George L. Carnegie OF
Pittsburgh.
Mrs. j. X. Wise entertained Informally
at dinner in the Greenbrier last night.
Mr. and Mrs. p. M. Longan have left
for New York. where they will spend
some time before returning to their
home in Tampico, Mex.
Mr.. and Mrs. John d. Toll arrived
from Philadelphia this morning and
were motoring along the Covington
Turnpike this afternoon.
The New York herald., 1921-06-18

General WOOD reports that the Phil
ippine Government is pretty close TO
bankruptcy. However. the Filipinos
need give themselves no airs on ac-
count of this. A lot of other govern
ments are in the same fix.
The New York herald., 1921-06-18

Babe RUTH cannot hit the balls de-
livered by u pitching machine. re-
Gently displayed at the Polo Grounds.
because the engine gives no sign of
when or how the ball is to be pro-
jected. The home run king might be
dethroned by a pitcher protected from
the batter's observation by shield
ing curtain.
The New York herald., 1921-06-18
Arkansas sports.

From the Bioeiop Cifiscn-Press.
Well. tho king OF sports has opened up on
the main stem--ptching horscshoes. II
some one will brinE out the checkerboard
and start cultlvating the cookie burs and
jIrnpson weeds well be rivals for first hon
ors with Coperas Gap.
The New York herald., 1921-06-18
A Word 70 the Wise Thief.

From the Medford. twis) Stor-Ncrs.
warning TO the siealer: II catch the
stealer anywhere and he tries 10 get away
I will halt him. and II he will not halt thore
will be no use TO try TO get away and hide.
Mrs. HERMAN WERNER, Jr
The New York herald., 1921-06-18

The Census Bureau reports that one
person In eight in the United States
is of foreign birth. The birthplaces OF
individuals domiciled here are of rel
atively little consequence; many men
and women who first saw the light
abroad are true blue citizens. IT Is
only the hyphenate who is unwelcome
in this great democracy.
The New York herald., 1921-06-18

There is now no doubt that in one
respect at least the Dempsey-C -Carpen-
tier fight VIII be a thoroughly repre-
sentative professional sporting affair.
Ii already mas "a ticket scandal.
The New York herald., 1921-06-18

In the Mexican State of Michoacan
the advocates of soviet rule have split
into factions which fight among them
selves. This is much more satisfac-
tory than TO have them unite and
fight the sane population.
The New York herald., 1921-06-18
The Mi.souri rhIIosopher.

From the Slater Rusficr.
The wise man takes all tho advice that il
given him. but he doesn't do anything else
with the most Of ~.
The New York herald., 1921-06-18
IN As,ance Of the J.r.,y CITY sca,on.

From the Coniroy County INIT
The spring fights opened UP Saturday
night az the big mill on Rock Greek. and
some OF the boys was carrying black
eye Sunday.
The New York herald., 1921-06-18

The Associated Press is exclusively entitled
to the use Tor republication OF ell news des-
patches credited TO II or not Otherwise
credited In this paper. and also the local
news published herein.
All rights Of republication OF special dcs-
patches herein are niso reserved.
The New York herald., 1921-06-18

SATURDAY, JUNE 1s. 1921.
The New York herald., 1921-06-18
LOCAL WEATHER RECORDS.

Tho temperature In this city yes. srday, a
recorded by the official Thermometer,
shown In the annexed table:
The New York herald., 1921-06-18

Directors and Officers Frank A. Munsey.
President: Erwin Wardman, Viee-President:
Wm. 4. Dewart, Treasurer; y. II. Tither-
.nGton. Secretary.
The Tomahawk. [volume] (White Earth, Becker County, Minn.) 1903-192?, 1921-08-25
Thri||ers at the State Fair.

The most stupendous program
ever put on at any fair in the
world will be presented to The
Northwest by the Minnesota State
Fair, September 3 to 10. g
The entertainment features in
clude attractions never seen in this
part of the country before. The
thriller of thrillers will be the
passage of Lieut.. Louis James, IS
years old, from a speeding auto
mobile to a low flying aeroplaqe
each afternoon. This is an act
never attempted until this spring,
and score of men have lost their
lives trying it. 80 i
The automobile, with Lieut..
James clinging to the back OF it,
will come racing down the track at
sixty miles an hour. A low-fying
aeroplane will come up from be-.
hind. From its landing gears will
hang a rope ladder. As the ladder
passes over the auto, Lieut.. James
will grab it, and swing himself off
into the air. Among other THINGS,
he hangs by his teeth from ladde:
attached to a plane. &
A fare and half on all railroads
will be given Fair visitors from
September 2 TO 10, inclusive; re-.
tnrn limit. Sent. 70. s.
The Tomahawk. [volume] (White Earth, Becker County, Minn.) 1903-192?, 1921-08-25
Wisconsin Indian
Timber Near End,
= .tr.,
LAUNDERING on Northern Wisconsin Res
.5- creations Has Stripped Land.

Several large lumber tracts on
Indian reservations in northern
Wisconsin will be stripped of vir:
gin timber this year,, practically
closing numbering operations, &C.
cording to a statement by Mark
l.. Burns, in charge of numbering
operations, u. S. Department of
Interior. Mr.. Burns has charge
of all Indian TIMBER transactions
in Wisconsin, Minnesota and Mich
igan. $685.. 1851, IT,.
Logging has for many years
been the principal industry in
northern Wisconsin. On the Bad
River ana other reservation the
Indians we're given tracts of timber
land eighty acres in extent, con-
tanning from $4,000 to 1000, 900
feet Of lumber which netted the
Indians as high as $780, 900 for each
allotment.
According to MIR. Burns these
same Indians are today turning to
agriculture and in all parts of the
Bad River reserve farms can be.
seen springing into existence-not
enough to spoil the hunting
grounds, for these are zealously
guarded and hunting still plays an
important part in the life of the
Indians. ,.~
Near Shawano, one of the largest
numbering projects controlled by
Indians anywhere in the country,
is at present in operation. Mixed
hardwoods from all parts of the
Menomonie reservation are con-
verified into lumber at this big saw
mill. All the timber in that section
is owned by the Indians and 3
sufficient supply to keep the mill
running for twenty years is said to
be on hand. ~. -