davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-10-03

national problems for some time to
come. But do not misunderstood me in
this. 1t is not my purpose to maintain
that the United States shall henceforth
Indefinitely turn over every year a great
surplus OF goods to consumers abroad.
piling up endless credit balances until
they grow so large as TO destroy all
hope OF their settlement.
Europe. indeed, needs gold. goods and
credit, and we are In a position TO fur
nish them. The increase in our invest
ments In foreign securities would en-
able foreigners forthwith TO increase
their buying power and in that degree
would enlarge our exports"
The practice of shipping goods abroad
on credit. which this would permit has
already been responsible TO a large ex-
tent according TO Mr.. McHugh, for the
present economic maladjustment be-
tween Europe and the United States.
Europe Must Produce More"
The true solution would lie in an in
crease Of the productivity OF Europe, so
that commerce between the two sides of
the Atlantic might be carried forward
practically on the basis of an exchange
OF goods. This would result In the I'M
portetion Of goods which the United
states does not produce cheaply to ball
ance those articles produced here in
abundance. Mr.. McHugh observed:
Where credits are from now on
granted to finance a surplus Of exports
over imports they should be granted
with the utmost care. with a full APP
probation of their proper relation TO the
primary principle of foreign trade and
with definite understanding regarding
their payment.
In considering oil these things we
must look forward to the time when
europe recove"s its place in trade. and
we must prepare ourselves for the in
evitaole adjustments which are to occur.
we shall not always be coincidentally
the worlds greatest creditor and export
nation on balances. Nor, take il,
would any of us want 10 be-"
Mr.. McHugh, reviewing the economic
ana financial situation here and abroad,
SAID the fundamental remedy for the
pIiSht or Europe was stabilization.
Ihose who had hitherto been ministering
10 her ills had done so on a political
theory only. he held and had ignored
the economic factors Hence. before
gold begins to flow back to Europe. the
speaker averred that a real basis for
peace time relations must be adjusted,
depts due by one nation to another
must be compromised, where necessary.
and then funded, and long term credits
must be granted
The New York herald., 1922-10-03
Finds Laboring Man Victim
of Greed of Own Leaders
in the Timer Circle
ENERGIES ARE STIFLED'
Production Restricted, Man.
agement Handicapped by ,
Economic Fallacies.

State supervision of every vote cast
must como II the best interests of
American industry-laioor and capital
alike--are to be safeguarded.
This assertion received notable ap-
by L. F. Loree. president Of the Deia-
ware and Hudson Company. In his
speech on Labor Unions" before tho
Clearing House section of the Ameri-
can Bankers Association. Laws to
that effect should be enacted, he de-
clared.
Mr.. Loree, as chairman Of the East
ern conference of railway executives,
took leading part in the recent
struggle between the rail carriers and
the striking shopmen. He was one OF
those who from first to last held out
against compromise with the strikers.
Control by State supervision ito
insure a secret ballot free from intimida-
tion or misrepresentation, and its honest
count" was the remedy urged by Mr..
Loree following his declaration that the
American worker needs to be rescued
from what he termed tho tyranny OF
labor professionally Observation-Disclosures
the great mass responds to pressure from
above, exploiting and being exploited for
the benefit of it's rulers
"Ffght for Economic Falacies."
The speaker quoted President Har-
ding's coal strike address to Congress "a
show that these labor rulers are seeking
to impose on the country their policies,
which, Mr.. Loree said. "for the most part
are rank economic heresies."
The rescue OF labor from an organ
ization that has become it's tyrant" can
only be accomplished from the outside
said Mr.. Loree. and he urged his hearers
to devote time and thought TO ways and
means of helping the laborer "in his
safety and comfort intellectually
and spiritually" In addition to his
Recommendation for state supervision OF
all strike balloting Mr.. Lorce urget
tho following provisions in new laws:
To provide that voluntary associa-
| tions OF seven or more members may
sue- or be sued.
! To make the records and accounts
| of such associations subject to public
authority and to make political use of
union funds criminal offense.
To give State authorities better fa-
cilities for labor dispute investiga-
! ton through the power 20 subpoena
The New York herald., 1922-10-03
Interest Here I'm Reparation..

The speaker maintained that srcb
problems as the fixing Of the German
reparations had very significant inter-
est here, not only because of the funds-
mental relations OF the reparations TO
trade and finance, but because of the
tact that Americans by purchasing
sow, ,oOO,oP worth OF foreign cur
rencies. the bulk in German marks, had
had an extensive part in the payment
of the Teuton reparations.
In brief" commented Mr.. McIIugh.
america has contributed handsomely,
although unintentionally. to the payment
OF Germany's war penalty"
In view Of the fact that we look for
Germany in the future to buy heavily
from the United States, the speaker
added. this country has more than n
passing interest In the terms that are
fixed on that country
Regarding Europe in general. Mr.. Nc
hugh said, the part the United States
might have in mending matters would
depend very largely on the plans of the
European statesmen He felt, however,
that America would finally do her
proper part in solving the major diff
culties which beset the world This she
could well afford TO do, he added. be-
cause her moral and financial power is
greater than that OF any other nation in
civilized history.
BY helping others 10 help them
selves" Mr.. McHugh said. 1--WE shall in
directly help ourselves, and reflection
will be found in improved domestic
conditions and Values
America, according to his view, can
look forward with assurance to the
future. not only because of her supreme
strength, and the intelligence and sta
billty of her people. but because every
lesson in her history teaches that in
overcoming crises she has always given
new and firmer direction TO her own
prosperity.
The New York herald., 1922-10-03
Additional news of the conven-

Additional news of the conven-
tion of the American Bankers
Association, including an account
of the fight of the out of town
bankers against the system of
branch banking, the activities and
entertainments of women who are
in New York for the convention,
the results of yesterdays meet
ings and the program for to-day,
will be found on Pages 10. 20
and FL of THE NEW YORK
HERALD this morning.
The New York herald., 1922-10-03
, osEMrrE uAs RECORD YEAR.

YOSEMITE NATIONAL PARK. Oct "A
total of 100.506 visitors, travelling by
train, automobile. motorcycle, horseback.
carriages, wagons and afoot. broke all
attendance records at Yosemite National
Park during the travel year" just
closed. according to official figures COM
piled here to-day. The total was 5000
Rreafer than in 1871
The New York herald., 1922-10-03
Can They Hold Power Peacefully

Mr.. Loree declared that the labor
leaders assertion that the right to
organize is denied" Is imam of straw
set UP TO be knocked down." The point
in question. II said, is whether the
labor leaders can hold their power with
cut "resorting to murders. beating and
sluggings.' as set up In the recent pro-
ceedngs OF the Attorney General at
Chicago; whether incessant attacks
upon the police power OF the State, the
injunction power of the States courts
and all other instruments of power
supremacy of the union over and above
the law of the land"
Mr.. Loree asserted that capital should
not lose confidence in itself. ut is to
the interest OF every citizen that we
should have" he said. "a commonwealth
founded upon industry and frugality and
recognition of the rights of those who
save and invest, wait and lead, take
risks and responsibilities. as well as
upon those who obey and work with
their hands, Capital has no reason TO
be abashed by an analysis of the part
1t has played in civilization. 1t has
made that civilization possible"
In closing, the railroad president
said:
''The labor union vry TO heaven that
they have the right to organize. No one
denies it--but let them in the exercise
Of the right assume the responsibilities
ii entails. IL they claim the latitude
and advantages. let them also share the
restrictions and burdens of organlza-
tions of capital"
The New York herald., 1922-10-03
Urges Care in Credits to FL
nance Exports Which Give
Us Trade Balance.
STABILITY BIG NEED NOW
U. S. Shown to Have Impor-
tant Interest in Action on
German Reparations.

John McHugh. president of the Me-
New York, was applauded frequently
by the morning audience which filed
the Hotel Commodore's main ballroom
when he delivered his address before
the Clearing House section on Look
ing Ahead-the Bankers RESPONSE
bility'
America has deep interest in has
tening the recovery of Europe. said
the speaker. He suggested that con-
Germ for the fate of nations beyond the
Atlantic, springing both from self
interest and wish to help humanity
and civilization, might even extend TO
the canceling of part of the osbt to
this country due from the Allies.
Mr.. McHugh also took the position
that il America is blessed with coura-
geous and clear sighted leadership
she is bound TO go beyond the barrier
of isolation, admitting, OF course, that
our own affairs must come first
The tremendous structural and In
dustrial work which the United States
has been engaged in as an absorbing
task was not undertaken. In Mr.. Nc
Hugh's opinion, solely in relation to
the domestic markets Although the
internal conditions in the United States
are encouraging and the development of
the country continues, the speaker de-
clared that her civilization was closely
tied with that OF other peoples. and
that. therefore. every effort should be
made in fastening the speedy recovery
of Europe.
The New York herald., 1922-10-03
Suggests New Loans.

In this connection, Mr.. McHugh sug-
gested. the extension of new loans to
those very interests who might be re-
lieved from existing obligations might
be considered. Such a step might be
well worth while. he thought, to pro-
mote the sale abroad of "a great volume
of commodities and finished products
made in this country in greater quantity
than can be utilized by the people OF
the United States. He went on:
Whether we will 20 on with over
production in the future depends on
whether foreign markets absorb our
surplus. and that, in turn, in large
measure on whether we can and will
adequately finance our foreign trade.
This will continue to be one OF our
The New York herald., 1922-10-03
Time to FIX Debt Policy.

Mr.. McHugh also said that the time
had come for determining a definite
policy regarding the allied debts to the
Treasury of the United States. which
now amount 10 approximately s1l,7Oo,-
100000. adding accrued interest and
principal. He continued:
BY dealing in a large visioned and
liberal manner with the debts due us,
and exercising our credit power wisely
we can go long way toward mitigating
the circumstances which keep Europe
in turmoil. If any portion OF the debt
be cancelled eventually a direct bene.
fit may result TO us. even though at
first It would seem as though Amer
lean taxpayers were being penalized
for the benefit OF others
"A partial cancellation would be a
contribution to world stability on our
part II 1t served the purpose of com.
pelling an adjustment of the difficulties
which now serve as a curse on Europe.
Such a part cancellation readily could
be made contingent upon agreements
as to the balancing OF budgets. the cur
tailrnent of imitation and the elimina-
tion of governmental waste
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-19
Newberry Verdict
Causes Senator to
Cancel Speaking Date

WASHINGTON, Jan. 17.-Sena-
tor Willis attitude on the Newberry
case today caused Senator Kenyon,
Iowa, to cancel an engagement,
made on invitation of Senator Willis
and Congressman Fitzgerald of
Ohio, to deliver Mckinley day adj
dress at Dayton on January 20.
In letter to Fitzgerald CANCEL
ing the engagement Senator Ken
yon said he intended to discuss the
Newberry case in all his public
speeches from now on, and to en-
phasize in particular his opposition
to the ''senate's condoning of cor
ruption."
Senator Kenyon and other Re-
acknowledgements, took the po-
sition that the Willis amendment
to the resolution seating Newberry
amounted to a condoning of the ex'
cessive use of money - the New
berry campaign.
Senator Kenyon also pointed out
in his letter that Mckinley believed
in clean politics and that, therefore,
such references as he would feel
bound to make to that fact and to
the Newberry case would, in the cir
cumstances seem extremely dis
courteous, to say the least, to Sen
ator Willis.
For that reason Senator Kenyon
said, it would be impossible for him
tn keen the engagement
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-19
u. S. Reserve Bank
Defended by Glass s
Against Bloc Attack

WASHINGTON, Jan. 17.-Do-
nouncing "erupting politicians" who
he said talk nonsense to farmers, "
Senator Glass, Virginia, former Sec
rotary Of the treasury, today defend
ed the federal reserve system in a
speech to the senate against attacks
on it by Senator Helm and other
members Of the senate farm bloc.
Mr.. Glass declared the federal re-
serve system had saved the United
States from financial chaos, that it
had not denied credits to farmers
nor Debated credit and currency.
Senator Glass turned to answer
the many attacks which have been
made on the reserve board, most yot
which he said were by Democratic
senators. He touched on the sal
aries of officials of the New York
reserve bank and criticised Senator
Hefiin, Democrat, Alabama, fol
what he described as absolutely un'
founded" attacks on them.
81 want to say to the senator from
Alabama" continue Senator Glass,
that a banking institution as great
as that of the New York federal re-
serve can not be run by a bod car
rier 1t can't be run by a newspa.
per published like myself 1t takes
talent of the highest calibre to con
duct bank whose business is
greater than that OF the Bank OF
England or the Bank Of France, or
any five Of the other federal banks
combined
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-19
Blocking of Recess Resulted
in Passage of Norris Bill
Providing for Two Billion
for Loans
The Atlanta Journal News Bureau.
623 Riggs Building.
BY THEODORE TILLER

WASHINGTON, D. c., Jan. IL
Following are excerpts Of Wig
orous speech delivered Monday in
the United States senate by Senator
William J. Harris, of Georgia, in
answer to criticism Of the so-ca1led
agricultural bloc" of which he is
a member. Senator Harris also is
member Of the senate committee
on appropriations; and in, his speech
he takes occasion to touch on the
work on the agricultural bloc" in
defeating the move for a recess,
which resulted in keeping congress
in session and the passage of the
Norris bill, which placed a billion
dollars at the disposal Of farmers
business men and bankers, who
needed loans at low interest on ag-
ricultural products and live stock.
In part, Senator Harris said:
'I strongly favor the passage Of
this measure, which requires that
one member of the federal reserve
( board shall be an experienced farm
cry one who is a practical farmer
engaged in the occupation and not
a theoretical agriculturist. The law
already requires that two members
of this board shall be experiences
bankers. The wealth of this coun-
try is created principally by the
farmers-about one-half the entire
population Of our country is engaged
in this occupation, and recently it
has been brought home to us in a
way to make anyone understand
that the prosperity of our country
depends upon the prosperity of the
farmers. When they can not sell
their products at a profit business
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-19

and are not yet operating to full
capacity.
The weekly payroll Of the two
mills amounts to $4,000, and, in ad
dition, Mr.. Hightower distribut
$4,000 among the mill operatives
as a Christmas bonus.
I heard in Thomaston that the
mills have just signed a contrac
for the manufacture, for February
delivery, Of $475,000 worth Of tire
fabric.
r.. County Has Money
The county of Epson doesn't owe
a cent, and Mr.. Britt, who is the
county commissioner, told me thai
it has money enough il the banks
to run through August.
The people very recently author
lied a bond issue Of $150,000, fol
road improvements. These 1onds
lave been sold The money S on
hand, and it's expenditure only
awaits similar appropriation from
the good roads fund of the federal
treasury.
eve are operating on a fifty
fifty basis in this road matter. and
we are ready to proceed with oul
highway work." said Mr.. Britt. eve
have forty convicts, plenty of mules
and the best road machinery. We
eXpec' to have the best roads IN the
state pretty soon."
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-19
WEEKS FOLLOWED
LAW IN PLANT BIDS

WASHINGTON, Jan. 17.-By
The Associated Press - Secretary
Weeks decision to refer to congress
all offers involving the lease, opera
ton or completion of the govern
ment's nitrate and water power prof.
ects at Muscle Shoals, Ala, was
analysed today by law officers Of
the war department, and found to
be in strict compliance with the
provisions of the national defense
acts, which authorized the govern
ment to acquire the properties and
build the plants during the war.
Under the express injunction Of
congress written into that law, It
was said, it was impossible for MI.
Weeks to have accepted Or rejected
the offer Of Henry Ford with a
Eyes" or mo" answer, or to have
taken any other action than ne did
in deciding to refer the question to
congress for decision.
Section 124 Of the national defense
act, it was pointed out, was design
ed TO bring about the manufacture
Of nitrates land other products for
munitions Of war and useful in the
manufacture of fertilizers and 9TH
err useful products by water power or
any power for the exclusive use of
the Urited States.'' Under it an ap-
preparation of $2O.O0O,OOO was made
available for the production Of nj
trateJ. the acquisition by the gov
eminent of sites for the plants and
their construction.
"The plant or plants provided for
under this act" the statute says,
shall be constructed and opera I'd
solely by the government, and not
in conjunction with any other in
dustyy or enterprise carried on by
private capital
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-19
HARD WORK is UPSON'S
REMEDY FOR CONDITIONS
Convention Of Miners
To Discuss Wages
Gets Under WAY

SHAMOKIN, Pa, Jan. ia con-
vention Of miners, representing all
the organized mine workers in the
anthracite fields, called to consider
a new wage agreement, convened
! here today. The present working
contract, entered into in September,
1920, expires March 81 and the call
ing Of the present meeting follows
a custom of the union to have Its
members formally agree on wages
I and working conditions to be sub
mitted to the operators. The action
/ of the present convention must be
! approved by the International con-
! vention a indianapolis next month
after which the mining companies
will be officially notified by the de-
mands of the union.
The convention, according to the
officers of 1.-The union, will ask. Tor
an increase in wages OF about ZO
per cent. It also will ask that wage
| rates be made uniform throughout
| the anthracite field as far as pos
sible and that the hours of men
| working more than eight hours a
day be reduced. A demand for the
establishment Of the check-off,
fought for by the union many years
in the anthracite field, also will be
made.
While no official announcement
! has come from the anthracite oper-
ators asa whole, it is generally I'M
! derstood in the coal fields that the
mining companies will ask the men
! to take a reduction! Union leaders
are on record as being opposed to
any lowering Of wage rates either in
the anthracite or bituminous fields.
| Wage contracts in the soft coal re-
gion expire at the same time as the
| hard coal field.
Whether there will be suspen-
sion Of mining March 81, in the
event no agreement has been reach
ed at this time, according to Inter
national President John L. Lewis
and other leaders. 1t has been the
; policy of the International union in
/ the hard coal fields to keep the men
at work so long as negotiations pro-
| gress favorably and assurance is
! given that the men remaining at
! work will not receive a cut. It is
expected the matter finally will be
left for the international policy com.
mittee to work out.
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-19
Shoe Industry Suffers
From Irregular Rates

NEW YORK, Jan. 17.-Irregular-
ity of piece rates and the uneven
flow of work are the chief ailments
of the shoe industry, Sanford E.
Thompson, consulting engineer in
industrial management today told
members of the National Boot and
Shote Manufacturers association.
Colonel Thompson, who was a
member of the Hoover committee on
elimination of waste in industry,
said that one representative fac
tory had met piece rate increases
ranging from IL to 260 per cent since
1914. Another factory, he said, max
ing 1000 pairs of shoes a day had
varied in it's weekly output as much
as 1000 pairs
Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-19
Brush Up on Algebra,
You'll Need 1t When
Tariff Bill Is Passed

WASHINGTON, Jan. 17.-When
you were youngster in the mesh
Of a high school curriculum, you
often wondered what earthly use
algebra would or could be to you in
after life. The senate finance COM
mittee will furnish one answer when
1t turns out the so-called perma-
nent tariff bill.
With this measure in operation,
customs appraisers, importers, man.
ufacturers and many others fire.
quently will stumble across the an
cient and almost frogotten enemy,
the unknown quantity of tx" This
hobs up in practically all Of the sew
eral plans for assessing import
duties. Under the plan tentatively
agreed upon to base these duties on
the selling price in this country of
the imported article it would be met
where the imported goods have not
been freely sold in the United States.
A value on which to base a duty
would have to be found by alge-
braic formula.
This has led to suggestion that
opportunity might be given for
.under-paid "math" teachers and col
slege professors to improve their in
comes by transferring their actiVi-
ties to the various customs houses.
Customs appraisers do not antici-
pate any rush in this direction, how
ever. They hold that they cam dust
off the old relic of high school days
or acquire a new one and brush
up on the devious ways of finding
an enemy which, at least so far as
they were concerned, they thought
had been laid away forever.
There has been a suggestion also
that if world conditions become
much more complicated the COM
mittee in handling future tariff bills
might have to resort to trigonome-
try or even the succeeding grade
Of calculus. Members of the COM
: mittee are having enough difficulty,
however, in crossing the present
bridge, without figuring on the
crossing Of one they have yet to
reach.