Evening star., 1925-05-31
Economic.

With little progress shown by
foreign nations during the past week
toward beginning negotiations for the
refunding of their debts, there is some
discussion--under the surface and un-
officially-that the United States con-
templates putting real teeth" into its
demands that European nations begin
the payment of their just debts. The
pressure which might be eXerted in
this direction lies in the custom, fol-
lowed generally by bankers. of placing
their proposed loans to foreign coun-
tries before the State Department for
its information before concluding
agreements. While the United States
has no power to restrict private firms
or individuals in their loans to foreign
powers. it is taken for granted that
if the Government requested that no
loans be made to powers which have
failed to begin paying their debts,
such loans would be effectually
blocked.
Further reduction in the military
establishment of the United States is
seen in the study now being made,
and guarded closely IS to its results,
of the effect of such reductions on the
Army. 1t is understood that this
study has been undertaken as the re-
White House and the War Depart
ment overs a proposed gradual reduc-
ton in War Department appropria-
tions, which would begin with the fis-
cal year, 1927, and run for several
years. The amount of the reduction
is estimated now at between twenty
five and thirty million dollars.
Appearing before the Supreme
ffrfn nf q fn
sustain Arizona in its plea to the
court that its State minimum wage
law for women be declared constitu-
tional, the Industrial Welfare Com
mission of California takes the court
to task severely for its failure to hold
as valid the District of Columbia mini
mum wage law for women. Criticism
of the court was made because 1t is
stated, it failed to take into consid-
Grafton the great weight of judicial
opinion throughout the nation, as well
as the judgment of the President.
Congress and the legislatures of l3
States-who have taken the opinion
that the denial of less than a living
wage TO women impaired their health,
morals and was a detriment to the
public welfare.
The price of rubber, and therefore
the price of automobile tires, is GO
ing up-not because there is a natural
shortage of rubber, but because of a
foreign monopoly in the rubber trade
which has restricted production, ac-
, cording to a report of the Department
of Commerce. This report brings out
the fact that extra profits from the
British rubber industry alone, would
be sufficient to cover all that ma
tion's payments on her war debts to
this country. !
The United States Shipping Board
last week put on the market for sale
400 of its idle ships, which may be
bought and scrapped. Henry Ford,
who not long ago informally offered
to buy 400 ships from the Board for
scrapping, is expected to bid for some
OF those just offered for sale. Accord
ing to Chairman O'Connor of the
Board, Mr.. Ford Is interested in re.
', frigerator ships, some of which are
included in those offered for sale. He
would ship some of his products to
South American ports in these ships.
1t is stated, and bring back fruit on
the return trip. A representative of
the Ford interests is expected in
Washington this week to make a bid.
The British Government has no In.
tention of resuming with Soviet Rus.
sia the diplomatic relations which
were severed when the government
headed by Ramsay Macdonald was
defeated. This was announced in the
House Of Commons last week by For
eign Minister Chamberlain, who added:
/ should. OF course. consider any pro.