The Princeton union., 1921-09-01
IN NATIONS CAPITAL
Peace Treaty With Germany Means
Resumption of Commercial and
Diplomatic Relations.
President Orders National Conference
to Discuss Ceuntry's Unem-
ployment Problem.

Now that the treaty Of peace with
Germany has been signed prepara-
t;cns for the resumption of complete
trade and diplomatic relations with
that country will soon be under way
IN the various government depart
mcnts. The treaty puts into force the
economic, Preparations, military and
various other provisions of the unrati-
fed treaty of Versailles, but provides
specifically that the United States
shall not be bound by the covenant Of
the league of nations or by other emu
mcrated parts Of the Versailles settle
ment. The declarations of the peace
resolution are reaffirmed in the treaty
and it contains, in addition, blanket
provision that any benefit which might
accrue to this country under the Ver-
sail!es pact is to be regarded as of
full force Germany's remuneration of
her overseas possessions jointly to the
big five powers is reaffirmed, as are
the military clauses of the Versailles
treaty, the sections relating to prison.
ers, rcparations, finance, economic set
Elements, commerce and abrogation Of
all other existing treaties between the
two countries. The treaty has yet
to be ratified by the senate.
Industrial, labor and civic leaders
from all sections of the country will
be summoned to Washington soon by
President Harding to participate in a
conference on unemployment. The
administration has shown concern for
some time over the employment situa-
ton. Latest reports from various Sec
tions indicate a serious situation next
winter unless something is done to
provide work for the millions Of un-
employed. With these facts before
him, President Harding has directed
Secretary of Commerce Hoover to ar
range for a national meeting. Mr..
Hoover said the plans will be ready
for the presidents approval within ten
days and the call will go out at once.
When congress resumes it's special
session it will give particular atten-
ton to the growing necessity for agri-
cultural relief. Ore of the measures
pending which will receive renewed
consideration is the McFadden-Kenyon
rural credit and multiple insurance
bill, which already has had preliminary
hearing before the house subcommit-
tee on banking and currency and the
joint commission of agricultural in
quiry. The bill is designed especially
to provide capital instead of credit for
agricultural production, and every
witness who thus far has appeared for
the measure has emphasized the dam
ger of submitting credit for capital in
the financing of agricultural enter
prise. The time required for agricul-
tural reproduction is too long, and
where bad banking practice is en-
ployed the credit stream becomes
clogged, thus precipitating financial
crises such as recently have occurred.
Decision on appeals for general am
nesty for socialist prisoners, includ-
ing the case Of Eugene V. Debs, will
not he made until the peace treaty has
been ratified This was announced af-
ter the attorney general had consulted
the president in the Debs case
Although it has been in operation
only about four weeks, the private
banking fund Of $4,000, 900, arranged
by the government for financing the
cattle industry, has completed loans
ag~~egating s2O,OOO,OO0.
Henry Ford's proposal to take over
the governments Waterpower project
at Muscle Shoals, Ala, is declared by
Clifford Pinchot to be contrary to
public policy and contrary to the spirit
Of the Waterpower act which limits
private grants to so years.
The United States government will
lose a million dollars through the de-
struction Of the dirgible ZR-2 under
terms of agreement entered into with
the British government, which provid-
ed that in event of the total loss of
this airship while under construction
or during trials the two governments
would jointly bear the loss on an
equal basis. The United States has
paid S1,500,000 to the British govern
ment on the contract of $2,00O,0OO.
Collections from income and profits
taxes during the fiscal year 1921
, showed a shrinkage of $780, 100000
from the previous year. Miscellane-
Gus collections, however, fell off only
SSl 100000.
Mrs Row & St0rkel