The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1921-09-09
IMPORTANT NEWS FROM THE
MA z7ONAL CAPITAL
IN OUR WEEKLY LETTER FROM WASHINGTON. DC.

Washington, Sept. 6.-(Special cor
respondence)-As rapidly as possible
the Shipping Board is abandoning the
present form of agreements under
which its vessels are operated by pri-
vate concerns and substituting what
is known a bare foot charters. Here
tofore the return to the Government
has been based on the profits made
on the voyage, but when poor manage
ment resulted in a deficit the Gov
eminent received nothing for the use
of its ship. The new form of charter
will provide for a specific return to
the Shipping Board, based on the tom
mage of the ship in question. In a few
cases, where it can be shown that
profitable voyages are in prospect, the
profit-sharing charter may be re-
stored to. Already, it is stated, AZ
vessels have been withdrawn from SER
vice because it was apparent that the
Government would suffer further
loss if they were continued under their
past management. The policy will be
consistently adhered to of laying up
ships rather than continue them in
service at a loss to the Government.
Germany Hard At 1t.
William M. Wood, president of the
American Wooden Co., on his return
from a tour of Europe, warns the
United States that it has a danger
Gus commercial competitor in Ger
many. "The wages in England are
very much lower than they are here"
he said. "Our wages are six times
what they pay in France or Belgium
and ten times what they are in Ger
many. We cannot compete, of course,
with such labor costs, and are out of
the running so far as foreign markets
are concerned. Germany is fairly
teeming with activity"
Mr.. Wood is only one of many who
have predicted the early industrial
revival of the defeated Contra Power.
In her defeat, Germany avoids many
of the domestic problems and contro-
v~ersies which are delaying return to
normally in other nations. Forced
by circumstances and the Preparations
indebtedness, the people are getting
back to work and are producing goods
for sale wherever there is a purchaser
to be found, prices a secondary OBJ
ject. A few days ago a large Ger.
man mercantile establishment was
started in Chicago to do both buying
and selling for German account. Ger
many will very rapidly resume her
former South American trade, and
unless checked by a protective tariff
will seriously invade the markets o.
the United States to the injury of oul
own industries.
The Industrial Circle.
Congressman Louis T. McFadden o
! PENNSYLVANIA, chairman of the Hous
Banking Currency Committee, "a il
charge of the bill amending the Wa,
Finance Corporation Act so as to en-
able credit extensions to the rail
roads and to farmers. In closing the
debate on the measure in the House
Mr.. McFadden summed up the imper'
ative reasons for the passage of the
bill in one short paragraph. "The i'm
portance of the agricultural Interest
is paramount in our national econom
ic structure" said the Congressman
at is evident that the merchants ant
bankers cannot pull themselves out O.
the hole without pulling the farme'
out of the hole. 1t is equally true
that the market for the farmers com
modities depends to a great extern
upon a fully employed and prosper
Gus and industry. Com
merce in this country not only de
ponds upon the railroads for the vita
element of efficient transportation
but normal operation of the railroad
involves the consumption of lumber
coal, iron, and steel, and other grea
basic commodities. When the rail
roads are out of the consuming mar
is inevitably stagnant and unemploy
ket, as they are at present, industr,
ment prevails. If they are in posses
sion of funds and functioning in
normal way, they are directly amon'
our greatest and indirectl.
through the large number of industrial
labor affected"