Five Mile Beach weekly journal., 1923-03-02

COMMENT From the
NOANAAVALANA ELMER TIMES

!: OOMMENI ELMER TINES 4
ACKNOWLEDGEMENTS:
Cumberland County Is Angry at the
Governor of New Jersey
Cumberland County is still indig-
nant over the TRADE launched against
it by Governor Silzer shortly prior to
his Inauguration, when he grossly mis-
stated facts concerning the bonded in
debtedness of the county. The Cover
nor was promptly informed of the
error in his statement, but inasmuch
as he has not seen fit to publicly re-
tract it since that time, Senator
Reeves took the floor on a point of
privilege at a recent session of the
Senate and informed that body of the
misstatements hat had been made.
Senator Reeves stated that the Cover
nor had charged the county of Cum
berland with a greater debt than the
entire State of New Jersey.
Governor Silzer is a puzzle. Those
who come in personal contact with
him and read his utterances on public
questions are almost certain to gain
the impression that he is a shining
example of sincerity and frankness-
then they notice discrepancies. His
actions fail to keep pace with his
words and doubts begin to arise as to
the real sincerity of the man.
During the first few weeks of his
administration, Governor Silzer had a
strong hold on the public. He was
hailed as an exponent of right and
fairness and was set on a pinnacle by
his admirers. Now the pinnacle is
crumbling. High sounding words and
sentiments fail to hold the public I'M
less they are accompanied by actions
of the same calibre.
England's Tremendous War Debts
The agreement between this coun-
try and Great Britain on the funding
of the more than four and a half bill
lion dollars war debt due this country
appears to be satisfactory. While the
average interest rate is less than is
paid on our own Liberty Bonds it is
as high as interest has been on gov
eminent issues in normal times, and
the loan may run for 90 years. 1t is
estimated that the British will ulti-
mately pay us in principal and inter-
est about eleven billion dollars, equal
to four dollars annually for 81 years
for every man, woman and child in
the United Kingdom. Our own Lib
erty Bond interest goes into the peck
cts Of our own people; the British in
terest goes out of hat country and
into this, making a vast difference in
financing internal affairs.
The English have tremendous war
debts in addition to their debt to this
lily taxed than citizens of other coun-
tries. When Germany vas apparently
trying to meet r%eparation payments
her citizens we're not taxed as heavily
as those of Great Britain or France, OF
even u own people.
The English are permitted to make
payments on principal and interest in
our government bonds at par and il
is presumed will arrange to purchase
Liberty Bonds whenever they can be
secured below par. When these is
sues sell at 80 or below the British can
make a good profit by purchasing
them. This fact should permanently
keep our Liberty Bonds near PAL and
thus benefit our own holders who may
be compelled to part with their Sc
curities. With this fact in mind it is
not likely that our wv government
bonds will fall much below par in the
next half century unless there should
be another World War.
The few publicists who have OPP
posed the terms of settlement with
Great Britain appear to have over
looked the fact that the English con-
tracted much of the debt in defense
of France and Belgium and keeping
the German fleet bottled up during the
time this country was utterly unpre-
pared to take any important part in
the war, and thus made the defeat of
can be seen that our loans were in
part a contribution for our own safety.
Great Britain and her possessions
must have an outlet for the things
they have to sell, if unemployment is
to be avoided and good financial on
ditions maintained. New Zealand, for
instance, seeks consistently to increase
her importations of butter to the
United States which may not please
our own dairy interests. For the year
ending June 80, 1922, that country ex-
ported approximately 5000 tons of
butter which it is thought will reach
$4,000 this year. A short time ago
New Zealanders c~onsummated a sale
to this country of 100000 boxes of
butter, about 5000 tons, ar encourage
ing transaction for them, even though
they have to pay our four pence per
pound tariff in addition to long dis
lance transportation, which is a han
dicap to foreign shippers.
They produce butter Of superior
quality and on that they depend as a
demand stimulant in the United
States.