davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-02-26
Too Much " ealth

Textiles are doing we'll on the whole
more esnecially when compared with
some other industries. say iron and
steel manufactures. which are still but
partly employed. There is little more
activity in lead and zinc mining. but
the BanQuo's ghost which hangs over
the situation and will not down is the
still LARGE surplus above ground in this
country and across the water. especial
ly IN Australia. This is another phase
OF the irony OF the prevailing economic
SITUATION, that our chief trouble lies
IN too much actual wealth Oh hand 70,
winch we are unable to find demand
More hopeful matters in copper are re-
hected in somewhat higher prices and
rather increased activity in mining in
the Southwest and Northwest Also
stocks on hand showed apprec;able re-
AUCTION during the last twelve months.
Despite much cold weather in North
ern attitudes, coal mining is in
iarlous state with a much reduced
output IN the bituminous field, with
Splng coming on, and no great indus
tlial revival yet in sight Prices Of
OF! are on again, off again. after th,.
tash'on of the immortal Finnaein.
Some Increased production resulted in
snail price declines. But no one doubts
what the future holds for those who
can hold on and play long-ronoe
game that is an immortal cinch. II is
no place, however. for the piker. Just
now the MeXla (FeX) field has the
New-York tribune., 1922-02-26
PennlsN and Interest

Failure to pay tax when due aua FOR
eu days after notice and demand, %
c0t ~ the case Of estates o. insane.
deceased or insolvent persons, will sub
lret the taxpSYel TO penalty OF . per
cont Of the amount Of tax due, plus in
crest at the rate or per cent mouth
rom the date when due.
Where d bona fde claim in eDate
ne1t. however, is flea within ten days
after notice and demand and tic tax-
payer has not had the benefit Of the
notice and an opportunity Tor ! hear
~, the per cent penalty VII not be
added 70 any deficiency found TO be
due. and interest from the time the tax
was due until the claim is decided Will
he AZ tne rate OF one-nali O. / per cant
a mouth on such deficiency
u d deficiency i due TO negiigence
Or Intentional disregard Of authorized
rUlos and regulations with knowledge
thereof, but without intent TO defraud
D per cent Of the total deficiency in the
tax will be added to the tax and in.
terest collected at the rate Of ] pey
cent per month on the amount OF
deficiency from the time the tax was
duo. The penalty and interest vii
become due and payable upon notice
and demand
II any part Of the deficiency is due
10 fraud with intent to evade tax then
in lien Of the penalty provided by Sec
r.oN 3176 Of the Revised Statutes. as
amended. for false or fraudulent re
'urns willfully made, there shall be
added as part Of the tax. so per cent
o, the total amour. OF the deficiency
This penalty is in addition to other
penalties for fslse or fraudulent re-
New-York tribune., 1922-02-26
Garment Men to Meet

The twenty-sixth annual convention
o. the International Association Of
Garment Manufacturers will be held at
the Hotel La Sale, Chicago. May rs to
le; 1t was announced yesterday by A. r
Allison. secretary. In addition to the
program OF speakers. inspection tours
OF the garment manufacturing plants
IN the vicinity Of Chicago will 6e made
The association will hold its ninth
ahnuai textile and machinery cxposi-
tion ~ connection with the convention.
play space has been contracted FOR NJ.
Allison reports. ~
New-York tribune., 1922-02-26

world. and would be even more so II
every commercial bank in the count,,
"erc member of the Federal Reserve
system ''e''i Ne
lN Q.-lf all civilized countries
nave not reached that point then state
"nat countries, in your opinion. have
advanced TO that point
Nl4) a That is ans wereG in The i'm
'nediately foregoing.
ODD @. Could gold be demonetized
IN the United States of America at some
iuture time, except for paying inter
nat'ona! balances, and a national cur
ichcy eStapilsned, based on real wealth.
as stated, without any great disturb
ance'
I5) At could not
were issued as have described. would
inns increase or diminish the profits of
our banking system? Take into con-
sideratlon the possibility of great in
crease in wealth, possibly from a 100
per cent sound currency and it's ready
availability.
(l6) A. Banking profits are derived
from services rendered by receiyirp
guarding and mobilizing credit for use
III industry and commerce. A bank is
trustee for its depositors whose money
IT employs in loans to merchants.
manufacturers and producers. Its own
capital is kept mainly as a fund in re-
serve TO guarantee the safety of de-
posits entrusted to it. 1t is not its own
money it lends, but that of it's deposit
ors, In whatever "money" its deposits
were received and its loans made. as
suming business to be active, it could
presumably make It's profit in the same
New-York tribune., 1922-02-26
Lacked Opportunities

Want of educational facilities and
opportunities was the worst of all Often
onc-room schoolhouses, with scan.
equipment. educational or sanitary.
poorly paid teachers, children walking
miles to school through snow and ice
and mud; the high school usually a
long way of in some large town:
country roads that were clouds of dust
n summer and iinpa ssabc in winter
Such too often was the story and those
who stuck to the farm under such cir
cumstaNccs did so because they could
not get away, or because they loved
nature rather than the case, comfort
and social life Of tie city.
50 now that there are many good
roads and many more buildings. better
'ransportaton, more equitable division
OF the states money for education and
constantly easier and more accessible
borrowing facilities, naturally the
farmer is doing all he can to improve
ms condition. II, perchance, he should
STOP over somewhat in seeking class
privileges we need not wonder since we
cot him the example in WAYS political
ny special tariff and class legislation.
All IN The specious guisc Of bein~ for
the general good. Nor need We he
greatly concerned By any such diver
sences on the farmers' part. shou1d
they occur, in view Of the preyajlino
sane sober sense Of the man next +o
me soil. and The popular sensitivenesy
against class privileges for any set or
men. 1t is truly the case to-dav that
the things that The farmers move
ments sre most concerned in are the
very things that Will soonest bring ms
PACK TO better conditions.
One also learns what wronc concon.
uons we get from those solemn Gciiops
which tell ia engaging graphs ard
curves how the cost Of LIVING has Do
ci'ned so many decimal points in tho
past month and how the "averace nr;cav
received by the producer of farm CON-
mod.t'es advanced so many decimal
points during the same thirtv davs ~
here IS something | ran across 10 illns.
'ra'e what these same statistics fa;l to
fccoru IN many thousands of instances
a farmer had some corn to soil h,,,
Vould ma no local demand at % cenfs
pusnel or less. for all the far1nnrs
around We're in the same predica,nont
as a, h!mSe1 having raised moro "''.o,., norn
.nan wan 1hey could sell or feed to live'
STOCK. The nearest market Of an, no',
New-York tribune., 1922-02-26
Is 1t Sound Money? i?

~ Q.-lf the answer to No. 9is thar
me money issued on d United Sta+es
government warehouse certificate ana
held as secnlity is sound money (the
equity IN which is owned by the owner
on the cer1iilcate and upon which he
n4s received 90 per cent Of the mark ct
vaile would This equity be available
Of being discounted by coforerc;al .lG. !
osnk Would the currency TINS rn.
ceiVed from the Federal Reserve RAN,
oe sound money; the capital and sur-
plus OF the bank being in money issued
Il The first instance? -
A'-lhls question IS inaccuratel,
s'&1ea. l ansrcr what | suppose tn he
g %leanine. Whether the "r,ono,,,,
.ssaN, on government warehouse cer.
tlhcate be sound or not. the "eon;t,-,
remaining IN the certificate ia rot IN
itsell. subject FOR discount The
owner OF the equity" might offer his
moVe lor discount secured by this
cqu-.y ana 1T might, OF might not, be
scceP'ao!e TO r bank, according TO the
s1Nle OF fhe owners personal credit
sl!u according TO the actual present
N'a'Net ya'Ne q the "eQuity." Such
note, II fulfilling the conditions as 70
one date and amount Of securitT reD %
quired BY the Federal Reserve net
would De eligible for rediscount.
fo) o. II this second issue of nonev
is uhsound money, point out why II is
more unsound than the present money
pased partly on gold and silver and
promises. ''''o
(o) Aft BY second issue" is meant
an issue of Federal Reserve notes
under the present Federal Reserve act
resulting from rediscount of hills
secured by the equities" referred to)
the notes would be Sound MONEY" For
they would presumably be issued iust
as as lhey are to-day, ard behind them
there would be an ample gold reserve
ana personal obligation buttressod
by member banks Endorsement
Inc entire scheme, however. seems
TO be clumsy substitute for the pres
ent method Of financing commerce. and
IS open to two grave objections. One
IS that 1t would tend to bring into
existence an unnecessary volume ~
''currency" to do work that is bettor
done by bank deposits. The other ia
that it would tend to bring the govern
ment directly into the province Of com
nercee, owing to the necessity that
would confront it sooner or later If
ITS being compelled to foreclose ana
sell at least some of the commodities
stored in its warehouses. possible at
serious loss. Besides this the govern
ncnt would have to maintain large
additional gold reserve to secure tSe
money issued against the storage 70.
,eipte.
fs) Q.-1r money Is issued on select.
New-York tribune., 1922-02-26
Plan Two Fur Fashion Shows

Furs will be brought to the attention
OF dealers and consumers in the near
future by two fur shows in this city.
me National Garment Retailers Asso-
ciation, fur division, will hold Its fur
fashion show at the Hotel Astor on
April 20. Manufa curing furriers have
been invited to exhibit. The Associated
Fur Manufacturers, inc, an organiza-
tlon of manufacturing furriers, also is
planning fashion show, further de
tails Of which will be worked out at
meeting on March 4.
New-York tribune., 1922-02-26
Claim Adjustments

Important changes have been made
by the department in the adjustment
Of claims for refund. These changes
should expedite the work in handling
claims. Formerly, when an overassess-
nent or oycrpayrnent was disclosed by
the audit of an income tan return, 1t
~ss necessary for the taxpayer to file
2 claim for the abatement OF the over
assessment or for the refund of the
oTerpayment. When received the
claim WAS registered and held until
reached in due course for considera-
Ton. Because Of the large volume Of
work delay in adjustment necessarily
resulted. Under the ruling Of the de-
paftinent, effective December &c, 1921,
trxrsyers will not be advised in such
New-York tribune., 1922-02-26
Industries Move Toward A
Greater Standardization
Need of Cost Reduc ton Gives Imnetn.
to the Elimina ton of Excess
Varieties Of Products

(NTANDARDIZATION Of products el.mnaton IS 49,
variety constitute developments which though
NJ Gently impetus through oars
of production. The
according students Of business gradual dp
Of prices, competition growing stronger i
the
increasing prices the With ~
During year ciors "b1l" prices have VII
New-York tribune., 1922-02-26


and Standards, Chamber of Conn.,
mcrco of the United States.
~ USINESS is more or less IN a
state Of hibernator and quiet
H. times arc likely to continue un-
til the spring comes
This is the conclusion | reached after
travelling from the endless prairics Of
the Great Plains states to the financial
capitals Of the East, all within the
space Of a week
On the one hand found financial
atmosphere, tense with world wide
problems. great constructive plans, and
frAught with all manner of hopes and
doubts and fears: aud on the other,
the short and simple annals of the
countryside who're similar great prob
lens are silently and in homely fash
ION working themselves out under ones
very eyes
Nou learn from those you meet that
the farmer is really after an equality
of opportunity rather than special
privilege. In Ways financial, in time
past. he vas distinctly handicapped as
10 borrowing money. rather by circum-
stances than from the fault of anyone
IN particular Likewise, in far-aw
and remote sections or in districts Off
the railroad, he suffered from lack Of
adequate and economical transporta-
ton whereby to market his products.
New-York tribune., 1922-02-26
A Claim Is Unnecessary
For Income Tax Refund
1921 Revenue Act Provides That the Adjustment
BE Made Initiative of the
Revenue Office
By Morris F. Frey

1uoronty Trust Comrcny York
TNCOME
in payment
the third therea fifteenth the
New-York tribune., 1922-02-26
Final Assessment

Under the 1921 law i. is possible for
the taxpayer and the Commissioner to
agree upon a final assessmen. which
may not be reopened except under GER
tain conditions. This is Of especial
Importance in that it permits the tax
payer 20 settle definitely his liability
for taxes fer particular taxable
period,
Under the provisions Of the law, If
The taxpayer. after determination and
assessment. has paid any tax or pen
atty, without protest, or accepted any
abatement. credit or refund based
thereon, and an agreement is made in
writing between the taxpayer and the
Commissioner that such determination
ard assessment shall be final, the case
stsli not be reopened or determination
and assessment modified by any officer,
employee or agent OF the United States,
and no suit or proceeding TO annul,
modify or set aside the same shall be
entertained by any court CT the United
States This does not apply upon a
showing Of fraud maifeasance or mis-
representation OF fact materially affect
ing the determination or asse ssmcnt.
iris IS the seveath Of series OF id-
teyp7etutire art 'cles on .Ae s}s,c tar tar
scrl'ten jor The Tribune 6y Mr. Frev
Others iciN appear on subsequent Su1'-
doUs FINANCIAL EDITOR.
New-York tribune., 1922-02-26
Cut Collar Sa,les


One place in the apparel trade, how
ever IN winch definite progress toward
the elimination of surplus STYLES has
been accomplished is in the n,er,s col-
lar trade.
concerns has T reduced a",s
! IS active line Of starched collars to
Il maximum o. twenty-five, compared
to line which formerly contained $50
dltterent styles. The line OF 100 SOFT
collars has been reduced 20 fifteen,
IN the new price lists issued to
alesnen these "active" stvles arc
printed separately. Other styles are
listed bNt Instructions have been
given the statesmen to discourage their
putcnase by retail distributors.
hen new retailer puts in our
!lne of collara,' said the sales manager
LOT the concern. he is to be confined
10 these fifteen starched STYLES r.
there is inv deviation from This vanr
TO know the reason for it and demand
an explanation from the salesman
1T Is easy to see the saving thst -
make IN production by the elimination
OF the excess styles. These STYLES.
while not dropped entirely from the
!ist are not put through regular pro
0ucton. If they are ordered thsy viii
DC made when opportunity affords and
VIII be subject to delays.
in ada'tion TO gaining smoother and
more efficient production, it will save
much warehouse space in carving
Stocks zoe. at the factory snd at our branch
Offices. We find that a branch Office
which formerly necessitated e5.000
i Get OF Aoor space can now be eff
GENTLY Installed in 10000 feet Thus
we save on rent. We also effect y
saVing III bookkeeping. stock records
and IN a hundred other wsys.
AS soon as possible we are going 10
cut down our shirt line in the same
We find that plenty Of stvle
ana varlstion can be given our line
with fewer numbers. The odd mum
oers were, IN most cases, merely small
variations of standard numbers and
contained only small differences. But
mali as they we've. they nsde big
d dltference III o,,r nrnauctinn md s4aal. ),
New-York tribune., 1922-02-26
Farmer Seeking Equality Only,
Declares Archer Wall Douglas
Aim OF Agriculture Is Not Special Privilege, He Says
Tour of Country Shows Business
i'm Hibernation


miles away. The freight and commits
SION and other charges to this city
totaled about Is cents a bushcl Cor all
expenses if the corn was shipped in
carload lots. Also, the farmer was off
the railroad some little distance.
s Cents q Bushei Net
On this basis nc could get 83 cents
bushcl for his corn. from which was
to be deducted also the cost Of shuck-
ing and hauling the 800 TO 900 bushels
necessary to make up the car to the
railroad station. If. however. he had
to snip in less than car lots. which is
not usually done, the increase in freight
rates would have been so great that
after all shipping and other charges
were paid he would have gotten eight
cents y bushel net for his corn. The
further away the farmer is from a
railroad or from a market where he
can find sale for his products the
more the prices he gets for his COM
modties remind him Of the attraction
OF gravitatlon, which increases inverse
II as the square OF the distance. and
Of the limited rescmb lance they bear
TO those gravcly quoted "average'
figures that the agriculturist receives
iOt ms plOuuCiS.
Winter wheat sections in the West
and Southmest are having rain at this
writing. bat it comes too late to repair
some of the harm already done, or to
seed the already abandoned acreage.
The general volume of business still
hangs on hand to mouth buying, for
futures find SLOW sale. Yet the senti-
ment Of the many is not discouraged as
it has already discounted the quiet Of
times that await US until spring opens.
Cotton. with its usual coNtrarincss
went down in price when every one ex-
pected it TO go up but the grains arc
showing sustained strength, which is
DIS oon certing to those spectators who
propa sled lower figures as the result
OF "" seliously reducing speculative ac-
tivlty in futures
Lumber is waiting patiently for re
ductions in freight, and for that in
creased building in the coming spring.
which all the factors in construction
are era aduslly tending to make a cer-
tainty. The shoe industry continues
TO hold its own. especially in the pro-
duction Of less expensive tynes. Wage
adjustments are helping. the situation
n New Fnuland
New-York tribune., 1922-02-26
Thomas Woodlock Attacks
Plan for a Currency
Based on Stores OF
the Necessities of Life
Sees Proposal as an
Aid to Imitation
No Money Is Sound I'm
less 1t Is RedcemabIc
in Gold, He Contends

FoiIowiaa are the t'cc,ltu-sir Qucs-
tons propou7ded BY Thomas A..
Edison regarding the desl1abihty Of
rctoining gold as standard Of poluc
cnd medium Of exchange. Various
points rciSed IN the qucstionnoire,
.rhich has been sent by The inrento5
to bankers o7ld economists, haze been
onswered from the standpoint of
orthodox economies by Thomas
u oodloch. forn1crlv newspaper
EDITOR o'ld oatt'eoy OF "An Anatomy
Of q Railroad Report
New-York tribune., 1922-02-26

oonds l' At interest and paid the interest
and principal rom the money rncei,@o1 .".e' e'i
ror l,S water rentals and the prrchaSe
money receiNed To-, tne lnnl
New-York tribune., 1922-02-26


II any installment IS rot paid when
due, the whole amount Of the tax pc
comes due and payable upon notice ard
demand by the collector. The due
dates for returns for different account
re periods and the dates of payment
of installments Of taxes, except in the
case Of nonresident alien individual
and foreign corporations, occur every
-hree months, as explained above.
Extension Of Time
A reasonable extension OF time for
Sing returns. limited to six months
except in the case OF taxpayers who
Commissioner of Internal Revenue at
MS discretion. Where an extension of
tine for fling returns is granted the
aate OF the expiration of the extension
shall be deemed to be the time fixed
FOR fling the return, hut the time FOR
payment OF the other installments will
not be postponed unless the Commis-
sioner of Internal Revenue SO provides
n granting the extension. In case pay
oients are postponed at the request Of
he taxpayer, interest at the rate OF
ane-half OF l per cent per month will
De charged from the time the pay
nents would have been due, IL TO ex
tension had been granted. until paid.
Under the 1921 act, authority is given
the Commissioner to extend the time
or payment in the case OF an add
'ioNsl assessment ii such payment
you'd result in undue hardship to the
axpsyer. This extension cannot eY-
cpcd eighteen i0rths from November
%, 1921, and shall not be granted where
ne deficiency in tax is due to nea,i-
gerce or fraud With intent 70 evsdc the
New-York tribune., 1922-02-26

'N'''
IN their eNorta to bring down thc
cost Of production manufacturers, in
dividualy and collectively, are turning
to the standardization project With
considerable hope and in some cases
with decided success.
The movement gained force during
the war. whcn the War Industries
Board, With broad Authority and the
cooperation Of various industries, sue
cccded in standardizing many products
and eliminating the vide variety Of
styles in others. This was done TO
amplify production and clcar the way
for the turning out OF essential war
Materials
Since then tho movement mas been
carried along by some trade associa
tions and has been the s1bjec. Of much
research by the fabricated production
department. Of the Chamber of Com
mcrcc Of tho United States.
In apparel Trudc
Probably less has been don. along
this line in the apparel and allied
trades, where style is al important
element in the consumers demand.
Some efforts have been made, but IN
only a few cases have direct results
been obtained. Even in these trades.
however, the necessities Of tho times.
economic forces over which the manu-
facturcrs have little or no control. are
forcing Standardization and the eliIni-
nation Of excess varieties, and, in the
opinion Of many manufacturers. will
exert still greater pressure during .hc
rext few years.
One of the forces tending to stand
ardize products in The epDarel field is
the peculiar twist that tho consumers
demand has taken in the last few
months: In the narrowing of demand
there has been more concentration
upon fcw decided styles. Efforts to
push other styles in competition with
the styles upon which public approval
has ccntcred have been unprohtable
In the shoe field manufacturers and
retailers who have gone in FOR decided
novelties which they thought n ght gain
public favor have been disappointed
and financial losses cnsued when
stocks Of such shoes have had to 81
sacrificed on the m arket for whatever
they would bring. A case in point was
the "moccasin' shoe for women. style
that never gained much favor. Retail
ers who stocked heavily on them re-
gretted having done so. Similar in
stances could be pointed out in other
apparel fields.
The trend now. however. is not to
provide something new with which 70
tickle the eve OF the consumer. but
first to discover what the consumer
wants and then fiji the demand. The
present is a most difficult time. accord
ing to manufacturers. in which to slim
ulate demand by Offering an untried
novelty on the market Though IL is
true, to great extent. that the novelty
goods are having greater vogue than
the purely staple goods. vet these nov
elites are few in nun Der and TO a
great extent have replaced the staple
goods. For time the novelties have
become the staples, and manufacturers
who are alive to the situation are pro-
ducing the novelties in The STYLES de
manded and are not Offering goods of
widely divergent style
s'uf (oI7ur Sg,.yos
New-York tribune., 1922-02-26
By Archer Wall Douglas

Chairman, Committee on Statistics
and Standards, Chamber of Com
mcrcc Of the United States.