davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
MONEY!: TRADE
Debts Owed u. S.
One Way to Pay Them
Accept Property Abroad
And Operate Them
BY GEORGE w. HUMAN.

CHICAGO, Feb. IL. America
sells more goods to other nations
than they sell to America. There
fore other nations owe us billions OF
dollars today.
Some say the debt of the world to
the American people is $1,000, 0OO. 900
or $1,000, 200, 900 in addition to the
$11 zoo, 00O, 900 owed us by Europ can
governments. Some figure the debt
at $4,000, 0OO, 900 to $4,000, 0O0. 900.
One flnancier reckons that, unless
we change the whole tendency and
method of our foreign trade, the
world will owe US $4,000, 100000 to
$50 900, OOO, 900 at the end OF ten or
twelve years. But that Is pure
prophecy.
Anyhow, the billions now owing
us, at any of the figures quoted. are
enough to worry anybody. They ac-
count for a large portion or this
country's enormous gold reserve.
They account for part Of the stag
nation of foreign demand for our
goods. They account to some extent
for the financial conference at
Cannes and the coming conference
at Genoa.
What can be done to lift this load
of debt from those who owe us?
How can we begin to square ac-
counts with the world and at the
same time not require payments that
our debtors find 1t too hard to make?
Well, there Is no way Of collecting
payments and at the same time
pleasing the people who make them.
And a lot of the money owing the
United States can be paid only in
the old, disagreeable and unpopular
way--that is, by working hard and
paying up. That is the way Ameri-
cans are doing among themselves in
these poor times. 1t is hard to see
why they should be be gentler with
foreign peoples than they are with
one another. But this Is not the only
way.
What other nations have done in
the past, when they had big credits
abroad, has been to invest some OF
them in foreign properties in
ranches, factories and the machinery
of trade, finance, transportation and
commerce. Thus, in South America
alone England had $4,000, 600, 900 per-
manently invested before the war;
the United States not a quarter Of
that sum. In all the world England
was supposed to have $40, 900, 900 900
to $25, 900 000, 900 invested in foreign
properties. The figures are not ex-
act, but are popular estimates.
II this had been good business for
England and also for France to a
less extent, why not for the United
States. In other countries, the eco-
nomic and financial writer's say it
would be, have taken for granted
since the war that, for own profits.
We would seize the opportunity.
There are millions in it. Why aren't
the millions just as useful when re.
ceived from Mexico or Barzil, as
when taken from Canada, where
American investment properties are
increasing in size and number almost
monthly.
The American Government wants
to see, the American people do big
business in foreign lands. The
American people want to do 1t. Both
are anxious to see foreigners pay
what they owe us already, and be
able to buy and pay more. The way
is open to accomplish these purpose 8
in part by accepting and operating
foreign properties in payment of
debts.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
A Penitent Bucketeer.

Heartrending are the troubles re-
lated by a penitent bucketeer as a
result Of pitiless publicity in these
RACES and elsewhere. 1t would ap.
pear that this gentleman was abused
That is, he did not know the ,nefar.
ious practices of his partners, and
now that the light is thrown there
on, he is rather Stunned. In times
of prosperity he only sported two
automobiles and was assured Of at
least $500 a week for getting bust
ness. He admits that his firm was
not a member of an exchange and
could. therefore, only make money
by trading-by taking position
against customers. He got the Gus.
toners to turn their money in, but
never bothered to see what use his
partners made Of II. Now he finds
himself on the outside looking in,
and wonders why folks are sus.
picious.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12

NEW YORK, Feb. 1.-THE pro-
spect of new taxes in connection with
the proposed soldiers bonus and ship
subsidy legislation continues to be
the least satisfactory phase OF ma
tional finance. 1t was almost In
evitable that before discussion ended
legislators who were DESTROYS OF
avoiding the criticism OF their rural
constituents should propose to nnd
the money they need by means Oh
a tax on stock and bond transactions,
and this accordingly Is the latest
suggestion put forward by bonus
advocates. Any such proposal would,
of course, be not only an ilegitimate
discrimination against one element
in the population-the owners OF Sc
curities-but would burden investors
who have already suffered very
heavily during the past few years.
II would, besides. as in all such
cases, react directly upon employ.
ment and prosperity by making II
harder for those who are obliged to
apply to the investment market for
funds to get what they need; and In
addition would interfere seriously
with Government financing. Be-
sides II would fail in its own object
as business would be dwarfed to such
an extent 1t would prove non-revenue
producing. There may be two honest
opinions regarding the wisdom or
passing a bonus bill, but there can
certainly be but one among right
minded people with respect to tax:
ing sales Of bonds and stocks, and
that is against II, especially when 1t
In taken into consideration that the
owners Of securities already provide
a very large proportion OF the GOV
ernment's revenues derived from in
come taxes.
Losses Of 1921 Written OF
The unfavorable Industrial re-
ports issued by a number Of large
enterprises during the past week
included some Of the packers (Mor-
ris & Co. disclosing a deficit OF
nearly 81 10000 for 1920. and
also various steel mills and other
concerns. As offsetting the I'M
satisfactory outcome Of 1921 in
many lines 1t should be remembered
that these final figures represent
a writing off which mas presumably
eliminated the bad elements in the
Industrial system. leaving II in a
correspondingly more healthy condi.
ton with a view to future growth.
Comparison Of the returns for the
last quarter Of 1921 in almost all
cases show very pronounced i'm
proyement as the year advanced:
The losses in short were inventory
losses which had been incurred
prior to August last when values
had become fairly well stabilized
the later months Of the year show.
ing correspondingly little shrinkage
in values save in those cases where
writeoffs had not been previously
affected. It is, therefore, q funda'
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12

Baltimore city and Charles and ~
Mary's counties.
Under the law" Mr.. Mack,s
continued, 1.-The roads commission
could not do it, and it would not
be a fair thing to do in any event.
Nor would Charles and st. Mary's
be willing to have any part of their
roads allotment spent in Prince
Georges"
Mr.. Mackall estimates a road
connecting Southern Maryland with
Baltimore city would cost in the
neighborhood Of 100000.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
BAL T|MORE {.
To FIGHT D. c.
FOR MD. TRADE
Want Direct Road to Enable
Them to Compete With
Washington.
BY WILLIAM MOORE.

Who are going to get the trade
of Southern Maryland-Washing-
ton or Baltimore merchants?
Both cities are making strong
bids for the thousands Of dollars
that are spent annually by the
farmers of this thriving section of
the Old Line State
Baltimoreans declare the Monu-
mental City is the natural mar
ket for Southern Maryland pro-
duce, while Washington merchants
are equally as certain that the Ma
TONS Capital is the logical place
for the farmers to trade their pro-
ducts.
Washington's Advantage.
Through the efforts OF Washing.
ton capitalists and Semmes Motor
Line, there now is a direct road
from Washington touching every
principal town in the southern part
of Maryland over which a truck line
Is operated, and this would seem to
bear out the contention of the
Washingtonians.
Baltimoreans acknowledge this ad
vantage enjoyed by Washington and
would offset 1t. John N. Mackall,
chairman Of the Maryland State
roads commission, Is one OF the most
ardent boosters for a direct artery
connecting Baltimore with the agri-
cultural districts in Southern Mary
land. 1t is suggested that a State
road should be built connecting with
the present road somewhere between
Waldorf, in Charles county, and T.
B., in Prince Georges county, and
one Of the State roads which extend
into Anne Arundel county from Bal
timore.
such a road ought to be built"
Chairman Mackall said. But we are
without authority. under the present
law. for building IL. The trouble
with the situation is that IL would be
almost entirely for the benefit Of
Baltimore city and Charles and St.
Marys counties, while II would lie
entirely within Prince Georges and
Anne Arundel counties.
Baltimore Would Benefit.
Baltimore would benefit more
from such a road than any Of the
Southern Maryland sounties. Not
only would 1t give the merchants
Of Baltimore better opportunities Of
selling their goods in Southern Mary
land, but il would open up St.
Mary's and Charles counties, with
thor wonderful riv2rJ and splendid
fishing facilities, to the people OF
Baltimore as a great playground.
THE pepole Of that country would
benefit by having more visitors from
Baltimore, and / believe their lands
would enhance in value. But SO
far as a market for their general
produce is concerned, that market
is now supplied by Washington.
and, from what 1 understand. they
are fairly we'll satisfied with it."
The commercial and business in
terests of the people Of upper
Prince Georges county are almost
entirely with Washington, due in a
large measure to the Washington
Railway and Electric Company's
line to Laurel. and the excellent
facilities afforded by the Baltimore
and Ohio and Pennsylvania sys.
TENS.
Would Cost Million.
Therefore, it is pointed out, il
would be a great hardship TO take
the roads allotment Of Prince
Georges county and apply it to the
building Of a highway that would
be of comparatively little benefit
to that county in order to benefit
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
Railroading.
Improved Railroad Outlook.

Strength Of the railroad issues
was an outstanding feature Of deal
ings. So steady has the rail group
moved forward that the average
price of leading railroad stocks is
now higher than for over a year.
Notwithstanding the poor reports
which many carriers submitted for
December, there is a feeling among
well-informed railroad interests that
the actual results were not nearly
30 bad as indicated by the figures.
II 10 known that many reports in
cluded abnormal charges, especially
cleaning up" accounts for the end
of the year. This process explains
a large number Of the deficits for
the month. January figures will
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12

the stumbling point to a consolidation
Of the interests between Youngstown
Sheet and Tube, Steel and Tube Com.
pany of America and Inland Steel.
In steel circles It Is considered that
the obstacle now presented warrants
the belief that the merger will not 20
through for an extended period. In
fact, there is now considerably less
optimism that the merger will sue
coed than there has been at any time
In the past six weeks. In the event
Of failure of the plan, Steel and Tube
will build a Western plant to manu-.
facture pipe. Another angle has been
revealed in the informal approach OF
Sheet and Tube interests to Jones a
Laughlin Company, of Pittsburgh
seeking an amalgamation of inter,
ests. The latter, however, is und ar,
stood to have declined to consider
any such proposal.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
Obstacle to Steel Merger.

Inland Steel officials are said to
have presented a serious obstacle in
the way of the three -cornered merger
of steel companies. Failure Of In.
land to adequately mark down KS
valuation from war prices In it's do
mand for a substantial sum. variously
reported at from S15,000,000 to s25,.
900. 900 for it's Chicago location, Is
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
Increased PARTICIPATION.

As pools churn the market, the
public becomes more interested.
Hide and Leather Earnings.
American Hide and Leather re-
ported an income of 1907, 601 for
the last quarter OF 1921. This was
in line with expectations published
in this column Of approximately
5000. 900 for the period. The ex.
ecutive committee of Hide and
Leather met Monday, and, follow
Ing this meeting. II was announced
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
Brown Shoe.

Recent good buying of Hide &
Leather preferred and Endicott-
johnson has directed attention to
Brown Shoe. Both Of the former
Issues have done all that was ex.
pected Of them, but Brown Shoe,
which Is considered to have all its
poor earnings statements behind It,
Is selling within ten or twelve
points Of It's extreme low. It's bust.
ness has improved very greatly in
the last six months, and market
analysts believe that the stock is
selling behind other shoe stocks.
While no dividends have been paid
on the stock since 1920, Il takes less
than 100000 to pay the preferred
dividend, and It is not considered
inconceivable that the company will
declare a dividend on the junior
Issue before the end OF the year.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
BEST STOCKS TO BUY

in the coming Bull Market. $40 secures
my IS copyrighted booklet, THE GAME
OF WALL ST" also BEST METHOD
FOR TRADING" and one months serv-
ice DAILY MARKET LETTER. Posi-
lively the most RELIABLE market in
formation obtainable at any price. Send
for Free Sample Copy. Chas d. Reed.
esta blished 1899. 80 Broadway, N. Y. city.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
Time For Caution.

When every one is enthused, look
out for profit taking.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12
Pumping Water.

Holders of watered steel stocks
would not feel SO enthused over
merger talk II they would take time
to realize the actual results thereof.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-12

that only routine matters had been
discussed. However. directors OF
companies oftimes discuss matters
called routine" which, after COM
ing to light, are found to be very
important to stockholders. Indica-
lions are that the income for the
current quarter may be somewhat
larger than that in the last three
months OF 1921. II this improve
ment holds out II will not be sur
prising to hear promises q a re-
sumption Of back dividends before
the close of the summer.
Railroading.
More money has been lost in fol.
lowing railroad tips than in all
other departments Of the market
combined.
The daily star-mirror. (Moscow, Idaho) 1911-1939, 1922-02-22
NATIVE OF india HERE
TO ATTEND u. OF |.

| d. S. Man, a native of India, has
arrived in MOSCOW to enter the school
of forestry at the University of Ida
no, coming from the same territory
as P. D. Sharma, now we'll known at
the university and in Moscow, who
entered the school at the beginning
of the school year. Mr. Man left his
native land in August of last year and
has spent some time at Vancouver, B.
c., visiting with relatives. 1t is his
intention to take the four years
course at the university.
Mr.. Man has what is equivalent to a
high school education, while his
friend, Mr.. Sharma, who is an older
man, holds degrees from two univer-
sites. Both men say that personal
letters from Dean F. r. Miller, Of the
school Of forestry were responsible
for their selection of a school, Dean
Miller setting forth most convincingly
the merits of Idaho's state institu-
ton and calling attention to the fact
that it is within easy access to the
great timber districts of the north
west.
Mr.. Man leaves behind him young
wife and little child, as well as his
aged parents All members of the
family sent to Dean Miller a gift from
India.
Mr.. Sharma and Mr.. Man state that
there is much interest among the
young men in India in the higher in
stitutions of learning in the United
States, and especially in the Univer-
sity of Idaho, and both believe that
the next few years will see many
students from that far away land TAX
ing training in the Idaho school.
There is great need for conservation
Of India's forest resources, and it 10
with this in view that capable young
men are coming here for training In
forestry.
The daily star-mirror. (Moscow, Idaho) 1911-1939, 1922-02-22
START ANNUAL GROUND
SQUIRREL CAMPAIGN

Plans are being completed for the
annual campaign of the Latah county
farm bureau against the ground
squirrel. Project leaders have been
elected in the different communities
of the county and plans have been
made for the cooperative purchase of
strychnine, alkaloid and saccharine so
that all may get their poisoning sup
plies at reduced rates and be thoroly
encouraged to put forth special effort
to control the squirrel. Each COM
munity will finance the purchase Of
supplies for that community, either
by having each individual pay in ad-
vance for supplies wanted, or by hav-
ing committee borrow funds from the
local bank for supplies for the COM
munity. Practically all of the COM
munities have voted to have the indi-
vidual pay in advance for supplies
wanted.
Community project leaders are now
receiving orders for supplies for the
season. Strychnine alkaloid will cost
the farmer $120 per ounce in one
ounce containers and saccharine will
cost zoe per ounce. All farmers de-
string to take advantage of these
prices and help conduct concerted
attack against the ground squirrel
should see their committeeman and
place their orders before March first.
In the territory tributary to Mos
COW the following committeeman are
taking orders for poisoning supplies:
Moscow, George Sievers; Blaine,
Thos. Abrahamson; Little Potlatch,
Percy Kinnier; Viola, E. Marcy;
Flanagan Creek, j. B. Kissinger
The daily star-mirror. (Moscow, Idaho) 1911-1939, 1922-02-22
Rail WORKERS, Miners
FORM AN ALLIANCE

Chicago-(A P.)-Leaders of the
mine and railroad unions, in joint
session today, voted to form pro-
tective alliance through which the
United Mine Workers of America will
receive full support of majority of
the nations railroad employees in the
miners strike proposed for April /.
The alliance, as yet, does not call for
sympathetic rail strike, however.
Chicago-(A. P)-The United Mine
Workers of America do not want the
nations railroad employees to join them
in strike, John L. Lewis, president
of the miners, said today in an ad-
dress at the opening of the conference
of the leaders of the mine and railway
unions. Lewis spoke of what he
termed the coming strike of the min
ers and said that his organization
wanted only the full moral support of
the carriers employees.
The daily star-mirror. (Moscow, Idaho) 1911-1939, 1922-02-22
FRENCH, G00DING
DENY JOKER
SAY BILL NO. 81 INTENDED TO
GIVE LIVESTOCK INDUSTRY
CHANCE TO EXIST.

Boise, Feb. 21-Flat denial thai
house bill No. 81 passed by the pres
ent congress will work hardship on
the sheep or stock industries of this
state, or that there is anything wrong
about it, was entered by Senator
Frank GOOding and Congressman
Burton L. French in kilograms to the
Boise chamber of commerce which
asked that the measure be held up by
President Harding pending an inves-
tigatiOn. Congressman French is the
author of the measure and he had the
forestry service and department of
the interior approve it, Senator
Gooding said the purpose of the bill
Is to give the livestock industry a
chance to exist.
The charges have caused a sensa-
ton among sheep and stock men here.
Crawford Moore, prominent Boise
banker and stockman, together with
Scott Anderson, also a prominent
sheep man, presented to the board Of
directors of the chamber Of commerce
an affidavit sworn to by Charles Le-
moyne of Boise, a sheep man, setting
forth that several years ago plan
as launched by Fred Gooding and
other sheep men, including James
surety company was perfected which
took an option on certain Northern
Pacific Railway company lands, bor
dering on the national forest in
northern Idaho, which is contained
in every other section decided to the
company by the government under
the agreement of the railroad to build
into the northewest The surety com
pany was to pay $1.5O per acre for
the land. The option expires January
1, 1928. Following the taking over Of
the lands and dependent upon the
passage of the measure that has gone
through congress and over which
there is the present controversy, the
company was to deed the land over
to the forest service, taking in lieu
thereof strip which will permit the
placing it on public lands in southern
Idaho in every section, acre for acre.
Homer Fem of Ogden, formerly
with the forest service, the directors
were told, was to secure passage of
the measure through congress in re-
turn for which he was to receive an
alleged fee of 10 cents per acre
amounting to $4,000. It was said
Fem dose not deny this and sheep
men admit he is entitled to sub
fee.
The daily star-mirror. (Moscow, Idaho) 1911-1939, 1922-02-22
MANY ATTEND M. E.
MOTHER DAUGHTER MEET

The mothers and daughters of the
Methodist church met Tuesday eve
ming at $50 for their annual ban
Quet The hall was beautifully deco
rated in red, white and blue. The
tables were decorated in flowers and
small flags. The guests were seated
at the twelve long tables, each table
representing same country where
missionary work is being carried on
Twenty were seated at each table.
When all were seated they sang:
4Be present at our table Lord,
Be here and everywhere adored;
Thy creatures bless, and grant that we
May feast in Paradise with Thee"
This was followed by prayer by
Mrs. c. D. Bell.
After dinner the heads of several
OF the tables responded to toasts. Mrs.
A. P. Oberg gave greetings from
China; Mrs. A. H. Johnson, from Ko
rea: Mrs Corliss McElroy, from
China; Mrs Emma UrQuhart, from
India and Mrs. G. H. Schneider, re-
turned missionary, from Africa. For
Africa, Margaret Schneider sang an
African solo; Mrs. H. D. Martin a
solo; Georgia Bell and Mrs. O. Hage-
dorm, a duet Several instrumental
solos were rendered Mrs NJ Peter
son of San Francisco delivered brief
but very interesting address. Mrs.
w R. Lowell delighted those present
with beautiful solo, THAT Wonder
full Mother of Mine" At the head of
the first table, Uncle SAM tall and
graceful and perhaps more dignlfled
than usual and looking a little older,
greeted each guest with pleasant
smile Mrs H. O. Perry presided.
The daily star-mirror. (Moscow, Idaho) 1911-1939, 1922-02-22
Will Sell STOCK In
PROPOSED CREAMERY

Potlatch-The farmers interested
in the proposed Potlatch creamery
held a meeting in Potlatch Saturday
at which the executive committee was
authorized to solicit stock subscrip-
tions and make arrangement for the
drafting of articles of incorporation
and constitution and bylaws and re-
port at a meeting to be held in Pot
latch next Saturday afternoon, Feb
ruary 25th County Agent, 0. s.
Fletcher attended the meeting and
announced a one day farmers instl-
tute, or extension school, to be held
on that date, beginning at 1000
o'clock A. M, under the auspices OF
the farmers of the territory tributary
to Potlatch and the office of the coun-
ty agricultural agent. The program
for the day is as follows:
-1O:30 "The Better Half of the
Farm Miss Ada B. Erwin, home
demonstration specialist.
11:45 "The Place of the Dairy Cow
on the General Farm" Professor F..
w. Atkeson, head of dairy department
of the University of Idaho.
1:3O Some Aspects of the Present
Economic Crisis" Professor H. c.
Dale, head of department Of eco
nomics, University of Idaho.
200 "Soil Management and Per-
manent Agriculture" Professor G. r.
McDole, in charge of soils work at the
University of Idaho, and the expert
ment station.
Mr.. Fletcher will attend the insti-
tute and take part in the discussions.
All farmers and others interested are
invited and urged to attend the meet
ing. w. A. Fiscus is in charge OF
local arrangements for the institute.