davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-06-04
High Tariff Chief
Factor i'm Decline
Of Greek Imports
Restriction Against Export
of Foreign Exchange and
Decrease in Value of
the Drachma Also Figure

FACTORS responsible for the decrease
in inporta;ions into Greece a. the
presen. time are, first, the higher tariff
imposed, necessarily making the cost
Of N. goods much greater; second, the
decline IN value Of the Greek drAehr,a,
which In some eases makes Il inpos-
sible FOR Greek merchants 20 take up
bills FOR merchandise ordered when {.
dollar represented only half a. many
dr,ehna as AZ the time Of delivery Of
EoodS; and. third. The restriction. in
posed by the consortium Of banks. now
controlling The finances % Greece. on
the eIportation from the country Of
foreign exchange.
The latest figures avIilabls show 70
improvement in the commercial situs-
tion. Many staple articles Of food. for
which Greece is largely dependent on
imports. must now be sold a. such ex-
oroitant prices in order 20 cover n.
cost o. importation and the huetuation
oi the exchange that merchants are
allowing their stocks 20 become entirely
exhausted. with 10 prospect Of renewal.
The canned milk and butter imported
from Holland and Denmark are prob
ably the most important Of these
articles.
On the other hand. the increasing
difference IN value between Ergli,h.
American and certain other foreign
money and the Greek draehna makes
trading more and more dificult. rot
v1thstanding the actual preference
frequently evident in this market for
American goods.
While the decrease in Greece, for
sgn commerce has not reached alarm
ing proportions, there seems every
reason 20 believe that a condition /,
rapidly approaching which will mean
serious hardship 70 the consumers. a,
well as the mercantile community OF
this country. The merchants Of Greece
heretoiore have been the commission
agents Of the New East. ard this tyase
under present condition, 10 being
ruined
New-York tribune., 1922-06-04
Entangling Alliance

IqI This s.. Lawrence Wl'fTU
2 p ever can b. worked cgt s-ieai
fullv. draws a transportation rtrf
straight across the continent 70. ~
Rookie % the Gulf of S. LiEts'f
dividing us from Canada, our ff'Sr
friend and best customer, sepifil9
particularly cur Middle West i,c
Northwest from both Carsca sns ~
own Eastern seaboard. ard opes.9
them wide 10 tne con petition q -
chesn labor snd goods o.. Erglsie &c
Germany. TIE recent va Eii "
rariiv trade Var cetree1 EnsAHi.
which controlled IRE world trtct ~
shipping. and Germany, rnisa vis,s .,e
% control them. botn our Htli -.
England were trade wars ara nen =
our Misunderstanding sircs tfe1 ~
been trade Misunderstanding
And 20 thins % their asnng y 70
nav most % the cost ~ digrirg ~
own grave 80 FAR as trade VI ei.ae.
is concerned and % put Yer tngs ~
ard New York In case q rit4nesr
standing. literally and actually q y.
mercy OF Canada. which coIld eat o1
the electric power-whieh Fe
take y the s. Lawrence rroiesl y
pay: completely tying ~ ise ,ne..
.iies ard railroads usirg ! sno y.
dering these great states ne.plen
i'm when their fll. fgner'nia
would be vital, Every sort o. -
understanding can arise ron s9sS
undertaking. ,..a
The s.. Lawrence waterway, y -.
Jointly with Canada. viii GRIPPE ~
trade. threaten cur present Peaes.'
relations not Only WITH Canao.
with the whole British Empire, sh'
and remain an untold menace.
New-York tribune., 1922-06-04
Trade With Cuba

The little island OF Cuba alone did
even better as a foreign customer.
trading with Us 20 the extent Of
s5l5 .20s.73i during the year 1920, but
the proposed tariff will deal q cruel
blow here Z enacted into q permanent
law Not only will il threaten the
industrial ruin of this thriving little
republic. but its effects may be most
prejudicial in our relations with other
countries in Latin America. The
emergency tariff which went into ef-
feet on Nay 27. 1921. raised the duty
Of Cuban sugar considerably over half
a cent 3 pound By the provisions %
the Underwood tariff Cuban raw sugar
pAid q duty Of 1004s cents a pound.
while under the emergency tariff Il
pays $50 cents pound. Senator
Smoot and Senator Fordrey row pro
pose . duty Of two cents q yound.
The Cubans maintain that under the
conditions now prevailing in the sugar
market the increase in duty on sugar
is paid by the Cuban producer. A
soon as the emergency tariff vent into
effect the price OF Cuban sugar de-
preeisted about so cents a hundred
pounds. A year ago Cuba had .sz5. 900
long tons Of sugar yet ursold. AZ
New-York tribune., 1922-06-04
Progress of Italian Railroads
Mileage Has Almost Doubled in 80 Years Despite
Severe Handicaps; New Bank Formed 10
Liuuidale Banca di ScontO

~ the STANDARD 0n Company. but i-l'-
ian public opinion r-s rot taken 1rr
rarticlllr interest % tta Genoa flgit
ior Russian oi FIELDS Even before
tho war ltllys rrl-lnl. ol source.
after che rr.tlf States. was Rumanig
ard not Russia. and it 's fe.t chat .-al-
has no available capital 90 risk BOO tIe
South Russian and Georgian tle.ls.
Discount Bank Liquidation
The new Barca Nar.onalc di Croi.to
has been formed AND wll proceed 20
tle Liquidation ~ che hanca itllana
I'D Sconto 60 satisfy creditors at the
rate Of 5s or ~ rCr celt ~ their
claims ~ various stated dates a-ea by
law. and in no case later shan Decem-
her g.. 1921 The rev bank has
liquid capital NJ -5000o01O liTe. err
t.relv PAID up. and cas- he increased in
1922 hy another $4,000 600 i.-e
Tae ADMIN TRAITORS axe a.l creditors
CO the B. J. s. $50 doubt ,hf task ~
fte rrw hars wi. te artlous. About
1000 .000. 1000 .ire ~ dubious credits
must he l.0lilatei. s very small part
o. tre old banks staff is CD he dis
missed. and therefore tee general exc
penses for the irs- financial year VIII
be- rather heavy. and probably at trst
only the creditor interested ir trc dee
vci0rmerf a. tae rew bank Will MAKE
large deposits However tho direct
supervision ~ the haaks ~ issue ir a
guarantee Tor che public. and DO has ai-
ready been arFarre4 that at tnc bee
ginning tEe bank win carefully limit
rs operations 20 d.sc0G1fing bills at
short notice and cr drs. class gccgrity
Only.
The cinema industry has reached
during the last fsw years great pronor-
-iors in this country. Historic SUBJ
jec's are especially favored and the ir-
dgsrry hl. great advantage % The
magnificent ital Ian landscapes. Sew
eral hundred millions of lire IN capi-
tai have already been invested In this
industry. which employ. abol, one
thousand FIRST rate artists. two thou
sand secondary. tWo thousand ~supers. -
six thousand experts and lanorcrs. rs
well ar IRE occasional masses required.
and ffty thousand cinema fneltcr en-
ployees- The yearly length % f.ms
produced 's calculated 1t about .f00.-
000 meters. Quite recently two fac
tories f0r trc manufacture - raw films
were rAaINe4f N4A A'.N t"ra4AH were TOT
satisfactory. and Italian maruiacfur-
ers. fearing tte competition of foreign
firms especially the Eastman Kodak
Company. have asked an increase IN
the duty. American pictures are in
great favor here
From the recent census figures the
following data has been collected b.
the government regarding the number
u Italians residing IL various foreign
countries. These amount 20 100000.
which. added 90 the 5s 500 900 .rhabi-
tants o. ine kingdom. makes o total Of
over 5000 200 italian population. Ac-
corcing 20 the preceding census. taken
In 1910. about 100000 Italians re-
sided IN the American states United
States. Brazil. Arrentinel. In the
United States Italians were more ru-
merous ln the states % New York and
Pcnngyivaria. Next came New Jersey,
Massachusetts,, Illinois, California and
Connecticut.
New-York tribune., 1922-06-04

fsrsrlai Fsresg- Ft-a-eai cs--s'porfercsj }
ROME. May le.--The ninth congress
% the International Association Of
Railways was recently held a. Rome
any many engineers representing
American railroads. who have been al
lowed 20 travel free throughout Italy
for two months. are able 20 note the
rapid progress Of Italian railway lines.
The mileage Of these lines has in
creased from ii203 kiiometers iu lss6
% 20,667 kilometers in 1920, of which
about 1900 kiiometers are operated
By the government and the remaining
1000 By private companies.
This increase kas been despite he
fact that railway development cften
meets grave difficulties in Italy due 20
the mountainous nature o. tae country,
which often neccssitates the constIlc-
ton OF great viadscts and the boring
o. many tunnels. For instance. aside
from the well known Alpine tunnels
Simplon. Gothard ard Cenisiol there
are many others. such as the Giovi, ~
the Ligurian Appenines. about $500
meters long, with q grade Of about 33
meters IN o thousand
The dehc.t Of the state railways Tor
the fiscal year le20-'2l vas about .0ff,-
600. 900 lire. Revenues we've 325l co.,
600 lire ard expenditure f2s7 900 0oo.
OF the expenditures, about 26 per cent
went for fuel. etc. ard 81 per cent for
salaries and wages. The director gen
eral OF the state railways declared at
the congress that al his efforts were
being directed toward the reduction OF
expenses 50 that the deficit might be
cut down and freight rates reduced.
State Railways Deficit
During the first six months % 1921
the state railways. which have q spe-
cial fuel purchasing office 80 Now
York. placed orders for 3sl.I27 tons
OF coal IN the United States; In the
same period 324.047 tons were bought
in England. and from Germany. or
account Of war indemnities. i.227 f06
tons we're received. or the coal pur-
chased in .he United States. 1888
tons were delivered T. o b. American
ports and shipped 20 Italy IN Italian
steamers. and 81 .5se tons on foreign
steamers. The remaining amount Vas
delivered c. J. z Italian ports b. Amer
icsn companies. 2ls.sss being shipped
in foreign bottoms, and s.si6 In Italian
ships
During the fiscal year the average
price per tor fuctuated considerably.
rising 1920 lire in July. 1920. 20 72s
lire IN November o. tne same year, and
falling 20 307 lire in June. 1921. The
d.reteor of railways stated a. the con-
gress that during the year he con-
tinued experiments with liquid fuel bot
had lately been obliged 20 abandon
its use because o. the high price Of
naptha.
In the le2o-'2I financial period. tne
state railways burned 4ss3,000 kiio-
grams OF nsp,ha. which cost 1900 900
lire. As commercial relations with me
Orient have not yet been reopencd, Il
was necessary 70 apply 20 the Amer
lean market FOR supplies of mineral
and lubricating oils valued az more
thar 100000 lire The Italian mar
ket is dominated BY the Itslo-Anerican
OIL Company, Of Genoa, 4 subsidiary
New-York tribune., 1922-06-04
The Day Of the Vest

:. p. Morgan. The elder. once said
rat any ore lacking optimism about
re United States and its future was
making q big mistake. Much Of his
success and Of his reputation was
Sased upon this confidence in the fu-
ture Of our own country. Recent
events would justify widening the
srope Of this line OF reasoning 20 IN
clvie all % the countries Of the west
err hemisphere. This is the day - The
West, and the most important chapter
e the economic history of the world
during the next hundred years will be
written hv the countries % the west
err hemisphere.
-. recent great var threw most of
.he trade Of Latin America 20 Us. The
aftermath Of that colossal struggle
With its resultant worldwide economic
chaos. knocked the exchanges svry and
caused shrirkage IN our exports
which strained 70 the utm the re-
sources Of our overseas traders. Those
who deserved 20 live have come out OF
n. bruised but stronger than ever.
This is particularly true when Latin
America is under consideration. Pes
simists. who have seer orly the sur
face. grosn And talk differently, but
the facts are against them.
During Che calendar year. 1921. IL
per cent of our total world trade was
With Latin America In the year 1913
The figure was i3 Per cent Our ex-
ports % the countries of Latin Amer.
lea amounted 20 more than $500 ,ooo,o
dufing 1921. a gain Of l65 per cent,
measured in dollars, over the last nor
rsal pre-war year This record az
Mined in the face Of almost crushingly
unfavorAble exchange rates. worldwide
business depression, and the active at
tempts of German. English, French,
Belgian and Italian merchants 20 re-
gain what they had lost IL those mar
kets. justihes optimism.
The crisis IN American export trade
has been reached and passed. We are
destined 20 become the greatest foreign
trading nation. This will mean real
and permanent prosperity for our own
people and for those nations with
which we shall trade. The war In
creased our plant capacity and produc-
tive resources for fabricated articles 70
such an extent that our domestic re-
ouirements fell far short Of absorbing
capacity output. A Il per cen. surplus
must be taken care Of by overseas mar
ke,s. Roughly blocking out these po-
tentiAl markets ve find them 70 be;
Central Europe. Russia. ;he Near Eas.
South Africa. Australasia, the Orient
ard South America
New-York tribune., 1922-06-04
Ra,c Materials

TIE bulk Of our export sales 20 the
older European countries must con-
t.nue 20 be raw materials in the future
a. u has been in the past. With 4
deprecated currency and consequently
iow manufacturing cost ve cannot ex-
pect 20 make n large dent In these
markets with our fabricated products.
ercepf in the cases of certain % our
specialties II will be competitively
impossible under existing conditions.
Y may be some time before Russia,
with her hundred and ffty million con-
suners, comes back into the markets
OF the world. but when she does IN
doubtedly Cernsny will Dominate. due
% the factors OF territorial proximity,
knowledge Of the market and the peo-
pie. and 10 the recently executed
treaty.
The older nations OF Europe will slso
lead In merchandising in the newer
nations Of the Near East, and Great
Britain should continue 70 dominate IN
South Africa. This Is also true with
the colonies and doninions Of Great
Britain. where a preferential tariE az
rangenent exists. Regarding the
Orient. and particularly China. which
will be one Of the great overseas mar
kets for the coming generations 20
develop. We will have there the keen
eonpst!tioa of the japanese. This
raves US Latin America A. the best
New-York tribune., 1922-06-04
Work Under Difficulties

But the point whieh. perhaps. es-
eapes notice is that in India growers
are working under many difheuities
which, when scrmounted. viii give
them a bigger and an improved crop
yearly. In India. as IN the states,
there are our long staple areas and
short staple areas. But here the ryo's
the native farmers have the delight
ful habit of forwarding cotton grown
In short staple areas % long staple
towns. From thence the cotton goes 20
market, mainly 20 Bombay, and Sc ac-
eepfed az the product OF the district
from which !: is booked. This, of
course. is obviously dishonest. and ono
has % live in the country % realize t1e
amount of conmon cheating under this
head that goes or month IN and mo1iH
out.
Another fnvorlte dodge of the cui'i-
vators is % mix the staples, lorg win
short. TIE mixture comes 20 market
as long stapied varieties. When or be-
fore the raw material reaches fne mil
the fraud IS discovered. and t1e cone
sequence is that Indian cotton on tle
whole is d.screcifed. and iirtr.c'r
which have built up o reputation f-r
strong, healthy and long staple toer lose
whatever reputation trrT pc7serfri
The above and other mean tricks are t1
bs euchred By the enforcement ~ the
cotton transport bil. which was intro
dueed into the Indian legislative AS
sembly az the last session.
Then more ronev is % Be spent hy
the British and the Indian goverrments
on cotton research in fnls country.
great efforts are 20 be made 20 educate
the ryot up 20 the value Of cultivatne
cotton by modern and improved
methods. ard new areas are 90 be- sr--
veyed for the cultivation ~ tho raw
crop. There are signs of n world
shortage n cotton. America can speak
New-York tribune., 1922-06-04
Dirided Control

ID The s.. La7rerr' 7r'.e'i u,i
for divided control e. q ias ;ii
ring aha lPe"-'"s p. "-'-.'' 'i -
lions in aeve opre1' "ofk' zee; 2
'he control ard operat'0n - re A.
locks a11 c'7aI'' pfi,- .fa. 4 a. :
Wh.e1 are fatlreiF .' ~a,' 1.lH ~
rifcrr, and ~ fne Nii'rf NJ 80 6'if
Lakes. 90 .rcr,aTirg aT04r' n; etH
are row annually ci"er'et 'r-eiy, -
Chicago drainage car1i % co1'r'. -
sewage - ca.cago. ans n,r' ~ y,s
viii bs needed = tia llrot IN
improvement row being eaTrifs - J
IRE STATE ~ ll.lro.f .. c'i-s'' n
Great Lakes wi-a '1e % .iiiii. P1l 2
tracts fre tonnage i.f '-. -efi tIr1
New-York tribune., 1922-06-04
Disadvantages Of Plan

Contrast this now with tfe d.sadvan-
ta7es % The ST. Lawrence waterway &C.
ve'opment which Canada has asked o1i
country % share the expense of ald
which SIP Robert Borden ev-Pror-ior
~ Canada. and Lord Lee. British Fi-st
Lord - the Admiralty. did so muct .
promote during che recent Washing
to- conference.
ID Among other disadvartages. =
ever successfully completed The canal
VIII be foc-bound and dangerous also
from icebergs during q large psrt o.
tho open season and frozen over a.
least a month longer than the upper
Mississippi, while 10 part - it vii be
open during all the year, nor can !. be
kept oren By ice crushers. whereas the
lower Mississippi IS open a., The year
and The larger part of . and its trioI-
taries car be kept open by ice crgsners.
% T. can serve only the Northwest
srd Canada-to the disadvantage q al
the rest ot our country
l2l Senator Calder called attention
IN the Senate recently % the fact that
there are only 5000 0o0 acres o. land
in the United States 6tted for vhea.
cultivation. whereas there are 10000
900 acres in Canada. so q Is quite pos
sibie that by the time the ST. Law
renee waterway Is ultimately finished
the United States viii have ceased 90
export wheat and It will be valuable
oriv % Canada. for ordinarily Only
about Is per cent OF our wheat is ex-
ported and both because the tendency
of our population "a 20 .he cities and
not 20 the farms. anG because we are
the richest and best equipped country
n the world !, j. probable not only
that We will have the greatest growth
In population Of any country during
the ten or twenty years. bu, that also
We may be importing wheat.
n 50 it viii be imported from Can
ada. Therefore hy the time 10 is in.
ishei the s.. Lawrence roufe viii be o.
litt.e and ~ doubtful value even 20
Canada. because. FOR ore reason n u
New-York tribune., 1922-06-04
-y Jenes Ca<son

~ JRHlCo N@bOA
President, Por-Ameyioon Adrertis.
ing Association
T%o SPEAK Of Latin America as
unit is generally indicative
- of loose thinking. Occupying.
a. does this region so designated,
one-seventh Of the land area Of the
world. and subdivided as IL is into
twenty separate political divisions
widely differing in climate and In
some cases even in language. tradi-
tions and political heritages; only in
the hrosdest political, sociological and
economic aspects can il be treated as
a whole. When we think Of the
Western Hemisphere. however, there
generally comes 20 mind two great
subdivisions.
The FIRST extends from Hudson Bay
20 the Rio Grsnds and is marked
h. q genius wholly AnElo-SaIon, where
n. English language is spoken. The
second reaches down from this river
20 Cape Horn and is Latin in It's eul-
ture ard civilization. where. with the
exception Of the great territory Of the
Republic Of Brazil. Spanish is the Ian
gaage.
The eeonoric development Of these
two regions during the last hundred
years has perhaps been reflection
ot the respective philosophiss which
have differentiated the LAtirs and the
luelo-Saxons for = thousand years
back often Psn-Americsnism is dis
eussed without giving due eonsidera-
ton 70 these inevitable and desirable
differences. but thousA the line OF de-
narration between the Latin and the
Anglo-saxon will always be sharp
one. the community of interests be-
tween the nations comprising Latin
America and the United States has
slowly but surely grown closer dur
inK the last thirty years "hat mat
tsrs most is that the trend toward
closer relations is stronger To-Day
than Of any period since the founding
OF the republics Of the New World.
This result was inevitable and solely
the produet Of economic law. SPEAK
.rs. w.'.ers and traders in the United
States Ave speeulsted widely on the
question Of the so-eslled commercial
dominance OF the Lssin-Ameriesn mar
ke,,. II should be said here that the
word dominance IL misleading since
trade is an exchange, and whether tne
nations of Europe or the United states
esrrv on the major portion Of thi: ex-
change will not alter the resultan,
prosperity 20 the Latin republics. All
az the evidence indicates that the
r'nited states will get the lions share
81 this trade. The war greatly
hastened this condition. which. as
above stated. would have inevitably
come n the course oi years.
New-York tribune., 1922-06-04
Ncw York barge Canal

~ Only ocesn ships ~ 25.f,,. -.
or less can Use che propose! ~.
channei Our ast.toff,ns4
frsighters csrry i4000 tons q,
count 70 'nr rsresr'y - t.s's a.
ocean steamers FRAT are o. ,srs,i i,
locks and channels n '1s seven rs,,.,
a year whfr navigator is rrp..,.',
could carry only afcg' 1910 'sff. n.
extra expense ~ iii,lrg these l-,r.
ocear-roirz crsf, 40 800 fss, 'ir,.,.
fifteen iocss ard sixty niles n ts,,,
% Lake Erie compared wlth IA, 4,
iight draft wheat ard ore strrr..
boats - fhe lakes would nor. -.
ray the c0s. ~ tfsrSfcrr.rz eirn ,
Buffalo % hargss and lsr.iss |.
'rr04g- 're Barge Cars' % Nsr f.,.
I5I what rl.i b. re re.sr7 .ar,-.,
from Liverpool % Dg.r't. f-s g,-.,.
west ard Western Canada fss, =.
be found % make re Use - ',.i ~
profitable These cargoes csn 3r.y =
The cheap manufacture n Ernrl
and Germany. hauled % lsss. p -
pete with ire msngtsctsrer q -
Middle West.
l6J The course - isvsi7prsn, isa,
United States has always beer ,s~tr
the West and South. 5g' tt.f s, IA.
renee route. = ssccesii... s'sr,. .
.urn it eastward toward .ts 1rlr.,
markets - Europe ars away ff,- ~
growing markets % South A-sr.u a,
the Orient. say "iec.i1.rg ztf0s'
~ Europe because the.f b4vaf ,,sr
fas been rsdeced for a gsrefs,'ss
least b. ire wsr. ar1 l.ft -oT i.r
are taxing lneressec clir'i.ss =
wheat Only becagfe tfe.r 'Tr ts.a
are for The tine beng 80 .afgs.y :.
cultivated