Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-08
SPRECKELS URGES
CUBAN ANNEXATION
Sugar Refiner Believes Is
land Would Benefit by
U. S. Alliance.
BY JOHN r. SINCLAIR.

SpreckelS, the independent sugar re
finer of New York. forecasts the ulti
mate annexation of Cuba as the in
evitable solution that will bring pros
perity and contentment to the peopl
OF that little island. At the same tim
Mr.. Spreckels believes it would solvt
permanently the problem of the UniteC
States sugar supply
This former Western man, Away!
candid and frank, makes the point tina
sugar is so essential to human lii,
that the interests of the Cuban people
as well as the sugar needs of ths
United States. will both be happily
merged by the annexation.
National pride may cause the Cuban
people to resent my suggestion, but
make 1t with the utmost confidence
that time will prove that their future
welfare will be best served thereby,
says the sugar king.
When the point is made that this
attitude would conflict with the exiS!-
ing domestic sugar interests, he replied
that the higher cost of production OH
the part of American interests could
be met through an internal revenue tax
on the sale of refined sugar, any part
of which could be RENTED to equali2e
the difference in cost of production.
Then he continues: The fact that
Hawaiian, Porto Rican and Philippine
menace TO the beet and cane sugar
industry on our mainland which pays
the American standard of wages"
Congress, in his opinion, therefore
should keep very clearly in mind the
possibility of such a political arrange
ment with Cuba in the future in max
ing the sugar schedule in the pending
tariff bill.
This is the first time in many years
kIak CT q %.
sponsible business leader has cham
pioned this point of view in the United
States Many have championed the an
neXation in private conversation, but
not openly, as Rudolph Spreckels does
now.
Sir deorge Paish, British financial
authority, believes that the world itself
will have to realize that speculation
does not make business healthy. He
goes further and says that the world
today is facing a most serious financial
situation. Referring to the New York
stock debacle, this Englishman says:
TT is a symptom that the worlds
financial situation is most unSound and
a warming that we are now traversing
the biggest financial crisis the world
ever has seen.
"The present world crisis is due to
the fact that the worlds political policy
has been run quite contrary to what
the worlds economic situation has de-
manded. We have now to pay the price
of our past political follies and readjust
our political aims in harmony with
economic possibilities. The much-dis-
cussed Brazilian coffee loans system is
one of the symptoms of the present
crisis, and if you will look around the
world you find other symptoms or indi-
cations of Embellishments coming from
almost every country in the world"
This is the Paish complaint in a
nutshell.
When Sir George was asked how he
would correct matters, he replied:
Embellishments must be rectifled by
comprehensive world policy that will
enable all countries and all individuals
to meet their obligations. The United
States is no exception, and must adj
Just herself to world conditions"
When he was asked further II he
meant a cancellation of the war debts,
especially those owing to the United
States by Great Britain, he replied:
Debts are a comparatively insignlh-
cant item in the present crisis. In fact,
this is something much more vast than
debts. 1t is a worldwide financial dis
organization"
Sir George Paish is practical, hard
headed business man of large interests.
His pointed comments will command
attention.
ssIt's a time for conservation optimism
not pessimism-for there is no seri-
Gus depression" says George P. Wright,
the New York economist, whose job is
to summarize the leading authorities on
investments and business outlookS and
report his findings.
The consensus, based upon an analy-
sis of the views of 40 competent au-
thorities, indicates:
/. The recent drastic decline in stock
prices was not warranted by funda-
GENITAL conditions.
2. The recent substantial easing in
money rates with a somewhat aodl-
tional lowering of rates in prospect, Is
reaSSuring.
8. It is quite freely admitted that the
full consequence of the recent market
break cannot accurately be appraised
for some unexpectedly fortnight at
leaSt-and that some unpleasant dis
closures are not only possible, but prob
able.
4. The general business hesitation, or
minor recession, is expected to continue
for several months although no sub
stantial business liquidation, such as
would mark a genuine business depreS-
sion, is anticipated.
5. Investors who are holding recon-
mended stocks in well diversified list
on an outright basis should not liqui-
date, in the opinion of the large ma
jority of the advisory organizations.
New commitments are quite generally
advised, but such advice is tempered
with caution, generally leaning toward
the advisability of making new pur-
chases gradually and on a scale down,
with a goodly proportion of ones avail
able funds, but on an outright basis.
How long will an automobile engine
run continuously? This question, never
raised seriously in the United States, is
being answered in Berlin, where a
Chrysler car started at pm. Septem-
Der 25 on nonstop motor endurance
test at a track near the German capt.
tai. Already it has gone more than
30 900 miles, or better than seven times
the distance between New York and
Berlin, and is still going strong.
The car has been running in all
kinds of weather and has been under
the direction of several noted German
automobile experts. 1t is understood
that the car will continue just as long
as the motor will run. Whether that
means another week or month or year
Is the question.
To take stock car, keep three Ger
man teams of two men each driving six
hour shifts and not allow any stop of
any kind except to change teams, re-
fuel and take on water shows the power
of the modern engine. Already it is far
in the lead of all previous records.
Copyright, 1929. by North American News