Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-01
BETTER A|RMAIL
SERVICE IS URGED
MCAdoo Suggests Equal
Footing for All Cities
in Nation.
BY JOHN F. SINCLAIR.
Special Dispatch to The Star.


airmail routes should be organized TO
treat all cities alike. If one city is on
a regular route and another important
city an hour away by air, a serious dis
elimination in favor of the first city
arises. Banks in the airmail city can
clear their checks and drafts and nan
die their banking facilities with other
cities more promptly than the other
city can. The developments of airmail
will never reach its normal and natural
growth until the airmail contracts ere
SO organized that every city in the
United States stands on an equal foot
ing with every other one. No city
should be given preference in this new
communications development"
So says William G. McAdoo. former
Secretary of the Treasury and now
president of the Southern Sky-Lines,
Inc.
1t was this one-tinne cabinet mem.
Der who startled the COUNTS some
weeks ago by saying that the present
routing OF airmail costs the Govern
ment SIT a pound to transport it
from Washington to Los Angeles. while
the Government receives in return only
S2.25 on the basis of 5 cents a letter
and As letters to a pound So the
government Is losing at the present
carried.
Mr.. Meade obelieves that this loss
can practically be eliminated by a
more democratic airmail program on
behalf OF the Post once Department.
International Viewpoints.
David l.. Crawford, president Of the
University Of Hawaii, has expressed
surprise at the lack of interest in GER
tain sections of the United States In
international affairs.
7 suppose we are spoiled in Hawaii
Well known world citizens going TO
and from the Orient always spend time
at Honolulu. Many Of them speak at
conversations at our university. We
hear the Eastern point Of view-then
the western. We learn at first hand
what the two sides Of the world are
thinking and doing. I doubt if any
place in the world is more internation-
ally-minded than Hawaii"
Mr.. Crawford was born 40 years ago
at Sonora, Mexico. He Is a graduate
OF Pomona College, California, and a.
post graduate of Stanford and Cornell
After serving short time as manager
OF the Gulf Coast Citrus Growers As
ISOLATION, he went to the University of
Hawaii in 1917 as professor Of entomol-
ogy. Ten years later, he was elected
as its president
'"Hawaii's business with the outside
world is built on sugar ard pineapples,
Both OF these enterprises are prosperous
today to an unusual degree. Sugar pro-
auction has reached its maximum now
approximately 100000 tons.
About 10 per cent of the 300 600
people living there are white. But the
standard Of living Of these whites is
very high and the cost Of living very
cheap. 1t is an ideal place to live"
Margin Trading.
A New York Representative wants
margin trading in securities prohibited
by law. He would have any Arm deal
ing IN securities on a speculative basis
put in the class Of the bucket shop"
and made subject to severe penalties.
Margin trading is the universal prac-
tice IN business today. All business Is
done on margin.
A man who buys house for $40 1000
and pays $4,000 cash down, the balance
on time, is dealing on margin. The
whole basis Of 1nstallment buying Is
based on margin.
Put business on an absolutely cash
basis and grass would grow on many
main streets. Securities buying, no
| more than real estate. can continue ex-
cept on the margin plan.
To leglslate against buyers of securi-
ties In such a manner, without taking
In every other equity" class, would be
pure discrimination against one form of
business.
Margin buying has plenty Of dangers.
Had the business world been on a cash
basis from the beginning, then there
might be some point to such a law.
But the equity" basis has been the
custom for hundreds of years. How far
should man 60 out on the limb? How
thin should be his equity in a finan-
cial transaction? These are personal
questions. Until the end of time, at
least In capitalistic system, the ele-
ment OF profit is what makes the wheels
go around. And margin buying Is at
the base of profit seeking.
No, the La Guardia bill will net 10
the job that he is aiming at-namely.
to stop wild speculation in stock At
curities.
Spanish Highway Plans.
When Gen. Primo Rivera, the Span
ism dictator, came into control of the
government few years ago, he found
the Spanish highways in terrible shape
Very little had been done to improve
them for hundreds of years.
He looked about and saw other coun-
tries getting the American and Cana
dian tourists. He decided to inaugurate
a nationwide plan Of highway con-
struction to give the same advantages
to the Summer tourists in his country
as others were giving.
So the sum Of 100000 has been
set aside for start. 1t will be used
for banking the roads, widening bridges,
correcting blind and dangerous cor
ners, increasing the radius of curves
and erecting adequate signposts, as we'll
as for the resurfacing Of certain other
roads.
The plans already formulated con-
template the improvement of 4,187 miles
of trunk roads, of which 2,50O miles
will be finished before the end Of 1881.
The Spanish country Is full of ro-
nance and history. It's key trunk roads
are to be constructed to enable travel
ers to traverse large part of the ter
ritory rich in Spanish history during
the last thousand years.
When the roads are finished - and
probably five times the original amount
set aside will be required - Spain eX-
poets to get her share Of the tourist
trade.
Every country in Europe today has It's
financial eyes fixed on getting a share
OF this growing business.
Sir Thomas White, vice president of
the Canadian Bank of Commerce and
Canadian minister of finance in the
Metghan government, is to be the
Canadian speaker on the program AZ
the annual meeting of the Association
of Life Insurance Presidents, meeting
in New York on December ~.
Sir Thomas was Canadian minister
OF finance from 1911 until 1919, cover
ing the strenuous war period. He is
also director Of the Canadian Life
Insurance Co., the National Trust C.
and the Steel Company Of Canada.
His subject should have wide appeal.
It is Canada and the United States
Our International Financial Relations
tcopyright, 1929, by North American News