davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-12-31

srs Trust Company, Great Britain
owes about $4,000 900, 900; tho United
states. $4,000 1000, 600; France. t39'-
600 900 900. Japan owes about $780,
OOO, 900. Taking the figures given by
Edgar CramOnd In BIS speech before
,hc London Banker Association IN
June. 1920. VIC find that the per capita
wealth Of the japanese s-.Junts 20
about s38 yen. that OF an Englishman'
3 08s yen, Of the American, 0.0Il yen
and Of the French. 1898 yen. There
fore, the national debt OF Great Brit
ain works out 20 abort 307 per cent
Of her per capita wealth; e.7 per cent
of the American, 1913 per cent of tho
French. As for the japanese, his ma
tional debt amounts 90 only 90 per
cent Of his per capita Wealth--syea
smaller than tho American figure.
Economic and financial Japan lives
and has her being largely In her for.
ign trade The total foreign trade ot
japan in the pre-war year Of 1913
amounted 10 1891 900 yen. IN 1920
Il rose 20 tho dizzy height Of l.284 .b6o.-
900 yen. That was the apex. Last year
&c declined 10 2,66s,9e2 600 yen. But in
spite Of all the uphill battles our for
eign trade has had to wage all through
the course Of this year II r. making a
decided Improvement over the showing
Of last year. Al the end OF September,
1929. the total foreign trade Of Jspan's
amounted 20 1903, ,i4s 900 yen. In othsr
words. the trade total OF tho niHs
months Of the present year Is mueh
larger than that OF the entire year OF
1921.
In tho pre-war years the excess ~
imports over our exports was the rule.
u was the most natural thing possible.
In changing rom the older order Of
things into the new Japan had 20 rsht
herself, more especially IN her produe.
tive industries. The unfavorable bal
ance Of trade against her told the story
Of the new machinery and tools she
purchased abroad that she might ht
herself the better 20 enter the new
epoch OF her productive activities.
With her therefore the unfavorabls
balance OF trade was not altogether
unfayorable. Il spelled tho aecumula-
tion Of valuable assets, the heightsn.
ing Of her productive capacities. And
when the World War came and brought
with Il an unprecedented opportunity
japanese foreign trade shifted with ono
mighty leap from the excess Of Imports
into n tremendous excess Of exports,
| She eashed In on her silent and hidden
/ assets--on the accumulation Of years
gone before. Our excess OF exports
over imports amounted % more than
| 1000 ,0O0,00 yen In 1922.
New-York tribune., 1922-12-31
World Conditions That viii Affect
The u. S. Cotton Industry in 1923

Of the seventeen leading products, will
average only 20 per cent more. Re-
sistanoe 20 high prices seldom comes
from the spinner. He Is merely the
medium through which opposition is
passed 20 the producer Of the raw ma
terial when the spinner finds his
customers unable 20 meet high costs
he very naturally seeks relief By re-
duetion. This year, and indeed last,
he took the path of least resistance by
using lower grades. The enormous
stocks Of low and most untenderable
grades disappeared Rs II by magic un-
Der the spur Of impoverished buying
communities IN nOn.manufacturing
countries This season there arc AL
ready evidences that a similar course
is 20 be pursued wherever possible.
Lancashire is reported ~ taking all
the short. clean STAPLE that the spin
ners can lay their hands on, while
from Iodz VIC are told that East In
dian cotton and waste are being used
in the place Of American China can
not look nj American qualities at pres
cut quotations. native and Indian va
rieties again being resorted 70 almost
exclusively.
whatever eject tho War Finance
Corporation may have had either IN
helping the farmer 20 obtain better
price or I'm assisting the orderly mar.
ketinC n the crop, 10 wHs ACCOMPLISHED
with total advances Of Ssl l.SAs 600.
Tho boll.weeyl has accelerated the
rate A. which better farming methods
are being Rdopted-a procedure which
mass inertia prevented until this raw
cnous insect held out no alternative
other than tho rsversion % commu-
nifty life. without money 20 use else
where. Tho higher price ~ cotton also
places those who ere willing 20 DO 40
In a better position 20 comhs. the pest
next year. There is alarm. verging on
conformation. In some sections OF the
belt over the growing migration OF the
negro and white farm hands 20 the I'M
dustrial centers. This change OF popu
lation cannot but ho reflected In both
the supply and cost Of cotton rs the
tenants. troopers and casual workers
arc reduced In numbers.
All the three countries which to-
gother supply some 90 per cent Of the
total world cotton crop have a larger
Weld this year than last. Egypt con
tinues the decree OF this year into
next season. limiting the acreage Of
cotton 10 be planted, and the govern
ment has arranged for financial assist
anee 20 the farmers TO enable them 70
stabilize the cotton market.
I'M the Americsn-Egyptian (Pimal
cotton section the Tariff Commission
has announced that the tariff on long
stnpled cotton has not resulted in aetu'
ally increasing the price and 10 coats
the pill by adding that at may have
stabilized the price somewhat
New-York tribune., 1922-12-31
Goods Marker

Restricted space must make the emu
meration Of other influences little more
than references. The domestic market
for cotton products ought 10 be good
seeing that the farming half Of the
people are 20 receive about Sl,Si2,0OO,-
600 more for their crops this year than
last. The extension Of better highway
construction and the enactment OF
legislation 10 cheaper farm credits
should likewise help the agricultural
ponulation.
The course OF foreign exchange. the
progress toward recovery In Germany
Russia and the Near East are uncer-
tain and important factors. Normally
the Near East takes one-half OF all
the cotton cloth and one-quarter OF
the warn imported into Continental
Europe. The fundamentals remain.
Men, farms, mines and factories stand
ready, and the tightening OF the belt,
with the prong in the last hole, be-
speaSs a more determined attempt al
recovery than has yet been made by
the master minds" (sie) Of the world.
The shorter hours being worked by
the mills Of the world will continue
10 restrict the consuming capacity
until new factories are built 10 com
pensate for the building stagnation
and plant depreciation that took place
during the war period and afterwards.
Even trade depression has not brought
the spinners Of England and Japan 70
agree % tho proposals made for the
adoption Of part time working
Russia is beginning 20 inquire after
American cotton, cotton cultivation IN
her own lands having been almost
wired out for the time being. I'm
fortunately some countries, which are
usually wheat exporters, find them
selves compelled 20 import this cereal,
which viii curtail their purchasing
power This will be reflected In the
CONTINUED on Next Page
New-York tribune., 1922-12-31
Postwar Disorder

The aftor-war disorder ard dsprss-
sion OF japanese trade are largely dus
to an error Of judgment on the part Of
the japanese business men on tho
duration Of the war. The sudden close
o. the war found the japanese market
loaded with a stupendous pile Of stock,
all bought AZ war prices. It tied up a
huge amount NJ capital The United
States had the courage Of applying a
heroic financial surgery In readiusting
herself 20 the after-war conditions.
Japan lacked courage. She did not cut
down her inventory with one stroke,
pocket the loss and begin all over
again. She has been paying ths prize
Of her financial coWardiee ever since.
However, Japan saw the worst IN 1921,
and with the month Of July Of this
year our foreign trade began 10 show
the favorable balance OF trade.
The simple fact that the United
States is the best customer Japan has
Is quite enough 70 show what an In
porlant position our American trade
Continued on Next FaEe)
New-York tribune., 1922-12-31
1928 Destined to Witness Grave World Decisions
On Vital Problems Which 1922 Failed to Settle
c-.,;eal Possibilities Super
U sede Bright Prospects
which Began Year; Result
Has Been Disappointment
c.c;aI Unrest Is a Factor
r.,orable Developments on
'' ASSET Side Should Not BE
Forgotten, Says W. 5. Kies
Bv W. S. Kies

BY w - 49,
..:,-,ov. First Federal Foreign
Bcnking Association
rHE year 1923 seems destined
20 witness grave decisions for
l. ,be world. Developments Of
import have been shaping
l,..,y,s in recent months in GER
- Srcions. II appears that
-. ,.u, cone to a focus within
tsis coming year
"a. ,o2, has been a disappointment
i t.,igrs 20 settle serious world
m mti,-s NJ. that we end the year with
lI.....i ,o,sibiliticg in sight and as 20
.-i+fment Of these problems IN a
lne l,ss bopeful mood than We began
I. rrst be admitted II we arc TO speak
"a ssrseientious frankncss. The very
go politieal and social conditions
-, are world az the moment
-. ,se future full OF doubt. Europe
!. so-6av nursing worse international
h,.r.ds than even in 1914; there is a
-stsbls tendency among tho people OF
IN rsfions 70 a contemptuous disre.
- for the conventional control and
sss,rsints Of established governmental
,rsiems. There seems 10 be social un-
rss. everywhere. These arc the condi-
,'ors that have prevented the recovery
nd the normalizatiOn that seemed d.
vetly ahead Of us az the turn Of the
wear last January. 10 is not necessary.
However. TO look on 1928 as having
, gloomy outlook. There are fair
sroSpects of things being done that
IN 70 lar toward improving some Of
ne most serious Of the international
,ffustions.
New-York tribune., 1922-12-31
Position of Grorrer

Measured in money, the position Of
the cotton producer is comparatively
cnviAble onr. For while the Depart
ment Of Agriculture estimates that he
will receive for this seasons crop fully
200 per cent more than he got for that
OF last season. the American farming
community, producing bumper crops
New-York tribune., 1922-12-31
On the Asset Side

There sre o number OF favorable de-
y,lopments that have steadily gone on
In Europc as well as in America and
TIA. hsv, built up q sound foundation
FOR worldwide business 20 find foot
bold upon Tor a building up OF pros
serity in 1923 when we see discour-
ignc situations developing IL must be
remembered that economic Organiza-
ton present n continuous interplay Of
mutusl reaction between all the fac
tors Of any existing situation, and that
While we In this country have felt in-
lshsely the downward reactions, We are
going 20 have just as certain a series
q upward reactions once the situation
ia Get for them.
During the last half Of 1922 busi-
ness has generally been improving
and in many lines activity has par
illeled that Of the years OF prosperity.
IN the face Of unfavorable political
developments during the second half
a 1922 economic improvement has
KAN definite and continuous in the
ustod States. and this is likewise
hse in a large number Of the coun-
ues Of Europe.
New-York tribune., 1922-12-31
.Japan'S Financial Outlook
Shows Gradual Recovery
Prophecies of Imminent Debacie Far
From Facts, 1t Is Indicated; Rapid
ity of Revival Still Lacking
By Hideshige Kashiwagi

Agent the Yokotoma Specie Bank Id N NeW F0TE
H LACK rumors prophecies Of imminent financial deoaeo
TX japan appearing rather often of late IN the American
- press There trouble with them a they are utterly
absurd There one thing the present financial conditions
o Japan sancy easily secret neither mystery OF
Oriental magic II is as outstanding Mount Full Yet someho"
m rgn friends seem to have completely missed IT, Tho all illuminate
New-York tribune., 1922-12-31
ERgIand's Gains

Despite lingering unemployment
Englsnd's industries have been stead
ily working upward. Belgium's lead
ing industries are reported 20 be gain
ing in volume Of activity. In the first
eight months Of 1922 France actually
exported a larger tonnage Of products
than in 1913. and the activity and
sound position Of many Of the Freneh
industries presents q striking contrast
10 the general governmental position
both financially and economically
While IL IL perhaps not proper 20 con-
slider the people Of country inde-
pendent from their government. never
theless il is fact that France on the
whole has prospered IN an INDIVIDUAL
and business way. whereas the French
government financially has steadily
been losing ground.
Il is notable that nearly everything
We learn about production in Europe
indicates increase. NThere is practi-
New-York tribune., 1922-12-31
Specie ReSerUe

Look ut her specie reserve. IL tells
story with an eloquence and convic-
tion sil its own. The specie reserve j.
the backbone and tho very marrow OF
any country. No amount or argument 3
or adjectives can out-shout tho eontlest
whisper Of ts cold and obatlnatc ng-
ures. Al the end Of 1914, before the
full sweep Of tho World War was felt
there. tho note circulation Of our cen
tral bank. the Nippon Ginko, stood at
$40. 1856. 900 yen. The gold reserve back
OF Il amounted 20 29i7i7OOO yen.
Therefore the reserve ratio stood az
about 76 per cent. AZ the end or 1910
the note circulation ot the Bank OF
japan rose 10 l,0S7,2sI0OO yen. me
banks gold reserve increased also 70
733 .lO2. 600 yen. And the reserve ratio
naturally fell TO 81 per cent. In the
following year. 1919, circulation eN-
handed still more 20 lb,aboOOO yen
and the reserve mounted ssA's4o'OOO
ven, bringing the ratio down 70 90 per
cent. The year 1920 saw a favoraole
turn, The banks note circulation &C.
creased by nearly il50OO'OOO yen AZ tne
end OF the year, bringing u down %
/ ! 400. .446, 900 yen and Us gold holdings
increased by almost 100000 600 yen 20
! 29f $4,000 yen. This brought the
ratio up 70 90 per cent. A. the end OF
1921 the ratio went down again shgntly
10 s5 per cent. There was more than
100000 900 yen added 70 currency, and
there was n slight decrease IN the
banks gold holdings-it stood at l'2os'-
But in September OF this year the
note circulation Of the Central BshS S,,H
was cut down 20 1919 ,s9i 900 yen. THIS
brought up tho reserve ratio TO the
unprecedented figure Of 90 per cent IN
spite Of a considerable loss IN i.s golea
holdings, which stood az i,i0o'6se'oOO
yen.
All tho foregoing figures spell out
the one rather impressive fact; Iha'
there Is no other country in the whole
world to-day which can boast OF such
financial stability in us basic elemen-
tails save only the most solvent the
richest Of them all, namely the United
States.
New-York tribune., 1922-12-31
EurOpe's Purchasing POWeI

Through this betterment Of exchange
rates and the lowering Of prices here
Europe's money has been able 10 buy,
on rough average, two and nalt
times what it bought In 1920 That is,
New-York tribune., 1922-12-31

ing key-fact Is this:
Our Toxic Stock Exchange and other
security markets In the empire have
not attained anything Ike The emelen-
cy and influence which tho American
stock exchanges command here.
And also the fact (Which is the nat
ural and inevitable Consequence Of The
foregoing that our commercial banks
are practically compelled az once 10
foster-fathcr and wei-nursc vast ma
jority OF industrial corporations thefe.
They cannot turn over the securities
of such companies, as the American
banks can DO here. 20 millions OF
private investors through the TOXIC
and other security markets smoothly
and effectively. Frozen credit follows.
Even here in the United States much
OF the after-war distress was duo 20
the same cause. Unlike Japan, how.
ever. America worked out her financial
salvation with astounding rapidity ana
ease because Of tho facility OF her Sc
curity market and the ability Of her
investing public. Because the Jap
anese banks had 20 carry many loans
OF this kind. our financial complexion
struck some of the foreign observers 70
especially the prophets ot calamity
and traders in sensational news as
pretty blue Financial Japan Is muehi
very much. healthier than It looks.
New-York tribune., 1922-12-31
National Debt

The national debt OF country Is
another thing which throws a pene-
trating light on its financial health.
According TO the figures Of the Bank
New-York tribune., 1922-12-31
1919
PER CENT


romh
hd
of Uhe has
number commodity
commodity
fgureda s
New-York tribune., 1922-12-31
MAY UndersfGfe Prospects

There & nothing TO be gained By
CLOSING over tho seriousness OF the
political-soeial diserganizstion and the
political economic danger in Central
Europe. That danger is now 80 fully
seen that we may depend upon il that
earnest efforts will soon eyentuate In
the direction OF international eo-opers-
tion. and il is hoped will result in some
definite plan. II is quite certain that
the effect OF a settlement, or a reason.
ABLY pure prospect Of settlement, OF
Europe's political muddls will be cleo
tricAi. A year hence we may look back
and ssv that our greatest mistake al
New Years was in understanding the
rapidity OF industrial and commercial
that Is now a possibility
New-York tribune., 1922-12-31

ment when the upward reaction must
gain momentum.
The whole world Is well liquidated.
There is very little speculative infs-
tion anywhere. Our recovery this last
six months has been steady and certain
without undue expansion. Our export
trade is slowly gaining in the sales Of
manufactured goods TO all parts Of the
neutral world. This trade appears 20
be on rock bottom. IL is solid in every
way. The frothy element that in
America entered into wartime trade
has been eliminated Our foreign Gus
toners have forgotten the conditions
that existed when We we're the only
source or supplies They are buying
from US now because what they buy IL
in their judgment the best quality,
with prices on a competitive basis. Our
export trade Is being we'll handled. We
have a machinery OF merchandising and
Of banking that is better because Of the
experience OF the last few years. We
are in the foreign markets 20 stay. Our
trade r. to-day q much larger trade
than we had before the war. When
times become better Il is bound 70 eN-
pand
The Cordova daily times., 1922-06-13

malines veilS q sott braid crown and silver lace brim, and brown grapes droop from chou of silver lace
 The white hat at the right with facing of chiffon makes a pretty back ground for various flower trimmings set on the briln. It is shown with a collar of silver-edged ribbon and a wreath of little fruits and flowers. Small round beads set around the crown repeat whatever color is shown for the collar and facing. Bead and ribbon trimming of a different sort provide the only color on the hat with brim of -of-the-valley posed over a transparent underbrim. Hair braid, silver tinsel, and georgette make the hat at the upper right, with the soft crown and tloppy brim dear to the hearts of bridesmaids. Grapes in silver and color dangle from the brim. Organdie appeals to the de signer of bridesmaids hats and Is used to snake large flowers that are posed oh the brims of lace or other trans parent hats, and silver ribbon is im- mensely effective with them.
The Cordova daily times., 1922-06-13

rTHU hearts of the bride, her maids
 and milliners are all set a-f1ut- ter when tie momentous question of headwear for her attendants comes up. They all know that the success of a beautiful pageant depends upon its crowning glory, and each maid prays for a becoming hat-One that will do all that a hat can do for fair faces. The genius of milliners gloWs in the creation of lovely things for great occasions that call for the pie turesque and leave their fancy un- hampered. They revel in airy ma terials, graceful shapes, beautiful colors and make the most of such opportunities.
 In the group of hats shown here maids will find cause for rejoicing. They reveal the fine hand of the artist who knows how to take advantage of the mode and manipulate it to suit the occasion, and to insure becoming ness. They are a flattering lot and include the beloved lace hat and a brown malines model which fashion smiles upon When this years brides maids hat is not in a pale color or white, it is because it is running after one of two new favorites-beige and wood brown. The pretty model at the lower right in the picture is triumph of brown and silver in which brown
The Cordova daily times., 1922-06-13

Keep the public informed by adver- Using regularly in the Cordova . Daily Times.
The Cordova daily times., 1922-06-13

Al Snyder sez: It must be tough on some human peacocks, when the moutin' time comes.
The Cordova daily times., 1922-06-13

If you change your address, do not notify the carrier boy-report your new address to the office.
The Cordova daily times., 1922-06-13
WHO HAS THE MOST NERVE?

WHO HAS THE MOST NERVE? A man may have just as much back bone as woman but not so much of it shows. A clever young fellow we know Once went to motorshoW;
 When he went away
 He had a coupe And two chummy roadsters in tow No. Mirabelle, the oldfashioned sparl1in wasn't by radio.
The Cordova daily times., 1922-06-13

When money talks no one stops tc criticize it's grammar.
The Cordova daily times., 1922-06-13

Chrisy Mahewson Giants i'm health daily short time The lases which he has sHfed nmed his back This n
 
 he
  considering
The Cordova daily times., 1922-06-13
NOW-AND THEN

When young man meets girl and falls in love with her, he should avoid saying, as one used to say, "Will you be mine?" It is more tactful in these days to whisper, "May I be yours?"
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-05-23
BATHING BEAUTIES
WALK The BOARDS
Five Pensacola Girls in Bathing Toys
Introduce the Latest Fashions at
The Isis Theatre

Something novel in the way Of bath
ing beauties walked the boards-not
board waIk!-of the Isis theatre last
night, and Pensacola bathing girls
and menl- got glimpse of the new
est in bathing suits.
Forcheimer's Fashion Shop and MI
lady's furnished the suits and the girls
furnished the thrill! And the men the
applause.
En- masque and suited according to
the latsest mand ates of fashion, five
of Pensacola's most popular young
women showed the summer style in
toys for water sports, and again this
evening win appear on the stage at
the sIsis, MISUNDERSTANDING other
styles in bathing suits. And before
the end Of the performance will I'M
mask, disclosing their identities.
Perhaps it was just httle-thrill-
ing! But maybe 1t was the lack of
the surf that caused the shock. Any
how, the audience seemed wen pleas
ed, and from cape to cap,-not to men,
ton the suits and the stockings, every
thing was according to Hoyle. or
Atlantic Cityi As for the play-Satur-
day Night-it was fashion show in
itself, with a bathing party thrown in
for good measure. But go and see for
yourselfI
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-05-23
RUSSELL MecAUoHAN IS
WINNERS OF u. D. G. MEDAL

Ut was announced yesterday that
Russell McCaughan. a student of the
A. v. Clubbs school was the winner
OF the Essay Medal given by the
United Daughters OF the Confederacy.
Honorary mention goes to Sarah Trot-
ter a student Of the p X Yonge gram
mar school.
Just the pupils of the eight grades
are allowed to contest for this medal,
and 1t 10 those who have the highest
scholarship that do so. Russell also
holds the highest scholarship in the
eight grades OF the Clubs school. His
average is 97.5. The subject OF the
essay was Sam Davis. During the
eight month term, under the direction
Of the English teachers, al lpupils
have to write five compositions and at
the end of the term one Of these is
selected, to be rewritten by those
students having high marks.
This is the third time. the A. V.
Clubbs school has carried off this
honor. The medal win be awarded by
Mrs. Pope Reese on Friday evening
at the graduating exercises of the
grammar schools.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-05-23
MRS. ANNIE H. SCHNEIDER
VISITS LOCAL e. g. CHApTER

Mrs. Annie H. Schneider Of Plant
city Grand Matron Of Florida, paid
her first official visit to the Order of
Eastern Stars; Florida Chapter num-
Der 3, last Friday evening, Mrs.
Schneider remained during the week
end, and was guest at the San Carlos
hotel. She was delightfully."- entertain
ed while In the city, and especially did
she enjoys the car rides through the
various parts OF the city. given her
by the different members OF the Order.
While in Pensacola, Mrs. Schneider
called upon, Mrs. Marie S. Reeks, Past
Grand Matron, who is seriously i'll at
her home. She carried lovely flowers
to Mrs. Reeks.