Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-10-21
STATE NEEDS BIG
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could not maintain its policy of isola-
ton. He assailed the treaty of Paris
as a treaty into which hatred had been
written by Clemenecau and Lloyd
George, and he said I'VE must take
the lead in forming q new league of
nations, a covenant into which righte-
BUSINESS will be written He defend
ed business tor the great part it had
taken in the development of the ma
ton and devoted some time to an at
tack upon the attitude of labor. He
said:
"If organized capital shall not COM
lating the laws of the nation then or
ganized labor shall not combine in re-
straint Of trade without being held
culpable."
He assailed the labor strike as a
means of settlement of industrial dis
putes, held it to be the source of the
greatest industrial waste, and advo-
Gated the creation of a tribunal in
which neither side Of q controversy
should have membership but which will
adjust the questions fairly and justly.
He made an appeal for support for
the eighteenth amendment besought
respect for and observance Of the pro-
tibition law and branded the boot
lCkSCA no Aue uCQu4lCSt Jul0A III "A
nation, who should be hunted down."
Now IN Upward Trend.
He closed his talk with a state
ment to the effect that credit is now
in the most sluggish condition it has
been for four years, due to liquidation,
but gave notice of the danger spot, ad-
it's and not bring on another bubble of
initiation and in this connection said:
1--WE are on the upward trend. Pros
perity is coming; we cannot keep 1T
away. The nation is fundamentally
sound"
Nearly 80 members of the associa-
| ton, mostly from outside points, were
gathered when the opening session
| was called to order about 2 o'clock p.
m. by r. J. Cunningham, of Great
Falls, chairman of the conference.
After a few Introductory remarks
| and discussion Of several matters bear
ing upon the work of the conference,
| together with the introduction of each
of those in attendance, the program
was regularly opened by G. L. Jacket
| of Great Falls, credit manager of the
Royal Milling company, with a paper
on "a Study of the Trade Acceptance"
Mr.. Jackets paper was well prepared
and showed considerable knowledge
upon the part of the speaker In this
new trade instrument, which has been
in use only since the creation of the
explained that a trade acceptance must
arise from an actual transaction, a
current transaction, and that it cannot
be given in connection with an over
due debt. He stated that the accept
ance is drawn upon and accepted by a
purchaser who thus secures his cred
it for a definite period and the ac-
ceptance Is proof of the validity of the
debt.
Mr.. Tregoe gave the history Of the
trade acceptance, which he said was
a purely American instrument and
one Of the finest instrumentalities for
reducing costs and losses.
Trade Acceptances Good
Mr.. Jacket said in his experience
100 per cent of 3O-day trade accept
ances had been paid at maturity while
of 3O-day open accounts only 90 pei
cent had been paid at maturity.
A. n. Hotter Of Helena, while ex-
pressing the strongest approval OF
the trade acceptance, which he In
sisted was of French origin, said il
had not been as generally adopted in
the United States as had been hoped
when the reserve bank system was
inaugurated, being taken advantage OF
very little in this ninth district, but
that this was due to the fact that
merchants generally are towards ano
are afraid they may offend their Gus
toners.
FLOYD Habein, secretary-treasurel
of the Gallatin Park Association OF
Creditmen, discussed the subject OF
1.-THE Friendly Liquidation" in which
he covered the work of the adjust
ment bureaus of credit associations
who by cooperation between creditors
and with the debtor had succeeded il
saving many an honest debtor from
failure and at the same time conserv-
ed the interests Of the creditors.
Saving the Deserving Merchant
Through Business Service" was the
subject discussed by w. w. Beeman
secretary Of the Billings Hardware
company, i n which he took up frs
the difficulty of ascertaining if the
merchant is really deserving and il
he is so found, then the measures tt
be taken up to put him or a SOUND
basis in the conduct of his business
which he pointed out consisted Of
furnishing him an accounting and
cost system, analysing his trade Sc
as to ascertain what classes of mer
chandise he should handle, advising
him as to proper buying markets ant
other matters tending to help him il
working up a profitable business.
Sherman Is Speaker
'The Moral Risk In Business" wa
discussed at length following an ad
dress on that subject by E. J. Sher
man of Helena, credit manager fot
the International Harvester compan.
and which concluded the business o
the afternoon session.
Those registered for the conference
were:
f. B. Price, Butte: T. j. Habein
Livingston; J.. FL. Lehr, Butte: W. J
Forsythe, Butte: Fred Emmett, Butte
r.. 7. Nelson. Butte; Earl Spillum
Butte; NJ. V. Wilson, Helena; Earl ]
Murphy, Helena; A. N. Hotter, Helena
c. Fl. Porter, Helena: Theodore val
der Stegen, Helena: E. P. Leonard
Great Falls; w. W. Beeman, Billings