The Bismarck Tribune Newspaper, January 7, 1922, Page 4

Di fa Ni le ed al Ni pe ke th un m ne es sti in) mn do in} in ge Gr vo -of ‘th: ph ‘an Me ph wi es} to on thi co thy ) wa ret is pe! of for da; at bu he! eve te¢ lik the ant aul fre FK Ar. spe stu het | ot i S28 e 5 SERES PAGE FouR . THE BISMARCK TRIBUNE Entered at the Postoffice, Bismarck, N. D., as Second Class Matter. a Editor GEORGE D. MANN - - -: Foreign Representatives . YNE COMPANY G. LOGAN PAYN. Pee i CHICAGO Marquette Bldg. PAYNE, BURNS AND SMITH NEW YORK - : - is Kresge Bldg. | Fifth Ave. Bldg. | ° THE BISMARCK TRIBUNE’ of 1919.and $3,400,000,000 below the value of the crop of 1920. These are figures of great | significance. The farmers have produced nearly as much in quantity, but it has been valued in the exchanges at less than one-third the figures of 1919. As other products and services have not declined in like degree, the farmers must buy much less, and all the in- dustries are suffering in consequence. MEMBER OF THE ASSOCIATED PRESS The Associated Press is exclusively entitled to the use for republication of all news dispatches credited to it or hot’ otherwise credited in this paper and also the local | news published hereii ‘ ; f All rights of republication of special dispatches herein are also reserved. ce MEMBER AUDIT BUREAU OF CIRCULATION SUBSCRIPTION RATES PAYABLE IN ADVANCE Daily by carrier, per year +87.20 Daily by mail, per year (in Bismarck) . 7.20 Daily by mail, per year (in state outside Bismarck) Daily by mail, outside of North Dakota...... seeeeee 6.00 THE STATE’S OLDEST. NEWSPAPER (Established 1873) i io A WORTHY EFFORT Yesterday marked the anniversary of Roose- velt’s death. President Harding in an eloquent tribute emphasized the significance of the day. The Roosevelt Memorial Association has done much to perpetuate the memory of the great American. Its latest work is a study of Roose- velt’s career in North Dakota and his activities vpon the plains of the Bad Lands. The book is from the pen of Hermann Hagedorn and is issued. ncrmaley which was one of the slogans of the last by Houghton. Mifflin Company and is a fine con- tribution to the literature on Roosevelt. Other, As The Tribune sees it the “farm bloe” is mere-|’ publications from the same society are, “Roose-ijy asking a square deal for agriculture. As long! velt in the Kansas City Star” and the “American- ism of Theodore Roosevelt.” In this connection too, worthy of mention is the eloquent lecture of Charles W. Farnham on Roosevelt delivered inj Bismarck under the Auspices of the Town Criers. This lecture has found wide distribution in pam- phlet form through the memorial association. Now comes the announcement that plans have ‘been completed for the restoration of Theodore Roosevelt’s birthplace: at 28 East Twentieth street, New York City, undér the auspices of the Women’s Roosevelt Memorial Association. When this historic spot has been restored and the adjoining property used to give a better set- ting to the birthplace, the site will provide for- ever a forum of Americanism. : One of Roosevelt’s most vigorous admonitions was “There must be no sagging back in the fight for Americanism.” No more ftting memorial. than this home could be provided as an answer to that challenge. ( The four floors of Roosevelt’s birthplace will contain some of the best sources for students en- gaged in the study of this versatile character.; The haircloth chairs, the children’s porch where Roosevelt sought to overcome the infirmities of youth, the toom he’ was born in, a library of ‘the books he wrote and the books he loved, together with an auditorium to be devoted to lectures and) plays dealing with history, civics and other sub- jects form some of the interesting features of the memorial undertaken by the admirers of Theo-| dore Roosevelt. ; ‘ It is fitting too that North Dakota has taken steps to fence off and put in proper shape Roose- velt’s cabin on the state capitol grounds. The grass about it should be kept green and.a proper background provided for this interesting remem- brance of Roosevelt’s residertce in North Dakota. The Daughters of the American Revolution have undertaken a fine work in preserving this historic landmark. 5 : THE “FARM BLOC” Senator McCumber’s ascendancy to the chair- manship of the finance committee has caused some of the newspapers closeto the financia centers to wax nervous, 6vér what, they term the control of legislation by the “agricultural bloc.” The New York Times under the caption “Lead-! ershipless Senate” calls the rule “foolish’’ by. which, Mr. McCumber heads the most influential com-; mittee. This journal argues that in times of ad- versity agricultural sections run after false gods = and hail nostrums rather than adhering to strict economic laws. The Times admits that Senator Penrose could not control the agricultural bloc but that he could resist it and “dida great deal : to avert the consequences of its activity.” . This view of altered alignment in the United States senate is as sectional as the opinion of the feared agricultural bloe when Penrose held un- disputed sway, although be it said the late Penn-| sylvania senator recognized the predicament\ of the farmers and worked shoulder to shoulder with McCumber and other leaders of the so-called bloc to ease conditions. But the view of the New York Times is not the view of financial New York. That journal is Democratic in leanings and naturally always a sharp critic of those who would not swallow Wood- row Wilson’s fourteen points and his league of na- tions. In a recent survey of economic conditions by the National City Bank of New York there is} this very frank statement from the heart of Wall Street as it were: ; “The principal factor in the depression is within the control of the American people. ‘It exists in the unbalanced, relationship be- tween the prices of farm and other primary products on the one hand and the prices of manufactured goods, transportation service and various other products and services on the other hand. The final estimates of the Department of Agriculture upon the 1921 crops give them a market value to the farm- “ers $8,000,000,000 below the value of the crop » 5.00} | “It is useless to expect a return to normal conditions while this disparity of compensa- tion between great bodies of producers exists. It is unfair and it establishes an effective blockage against a revival of business. It is time that the business community took cog- nizance of the situation, and set itself to the | task of correcting it. The argument. that ! stock on hand was purchased at higher prices | has lost whatever force it ever had.” |Senator McCumber can relieve acute agricultural depression the first logical step toward normalcy ; will have been taken. It is elementary as the City | National Bank of New ‘York points out that bet- |ter times can only come after better agricultural |conditions are restored. |. Under the leadership of McCumber the “farm ‘bloc? can evolve a practical and constructive pro- jgrem for the good of the country as a whole. For | generations the east has dominated’ the senate committee which Senator McCumber is to head. |A change in viewpoint may hasten a return. to campaign. las that combination avoids the advocacy of strict- \ly class legislation, eastern papers should not see red whenever the “farm bloc” is alluded to. H PAYING f | John H:-Clarke, associate justice of the United |State Supreme. Court,,.urges. cancellation of the jloans Uncle Sam made to the’ allies. Unpaid in- iterest has increased this debt to about $10,000,- | 000,000. Cancellation is not as easy as it sounds. It lisn’t merely a matter of sentiment. : | Money loaned to the allies was raised largely iby selling Liberty bonds. When those bonds ma- ture, Uncle Sam has to pay the buyers full face | value, retiring the bonds. i '- That would mean $10,000,000,000 additional | ' taxation for Americans, to retire our bonds, if the allied war debts were canceled. { — | ; GERMAN A movie film that costs $200,000 to $300,000 to produce in our country can be turned out for $10,- |C00 to $12,000 in Germany. A Senate committee | hears that from Paul M. Turner, of New York, | during tariff hearings. The movie people are on the wrong track. Their logical protection against foreign com- ‘petition is to make better pictures. If comparative production figures are as far \out of line as Turner claims, raising the tariff on |imported films from 80 per cent to the suggested |60 per cent, would not make any great deal of dif- jference. — i Movie competition is a matter of quality of pro- duct, with production costs and prices secondary. ee aeee SOLD Nearly a third of our total exports in the last three years was foodstuffs. Eighty-three per per cent of these went to Europe. . American manufacturers are turning to Latin- America and the Orient, for new markets. The farmer ‘can’t do that: His market hasn’t jmovedy It’s still in Europe. oe When Europe recovers financially, our farmers will be first to benefit. EDITORIAL REVIEW Comments reproduced in this column may or may not express the pinion of The Tribune. They are presented here in order that out readers may have both‘ sides of important issues which are being discussed in the press of the day. | i i | CONTROL MOVES TO THE WEST | The succession of Senator McCumber of North Dakota to the place of the late Senator Penrose jat the head of the senate finance committee, which has charge of tariff and tax legislation, is| indeed the notable event that it was made out, | to be by a correspondent in The Herald last night. | In the first ‘place, it is'a sign of the coming itransfer of the high places in the senate from the; \East to the West, unless the East throws over- board the seniority rule which, long the friend of the East, is now about to become a problem to it. |The‘elder statesmen c* ‘he East who hold these | places are old/and in some cases sick, and when} ‘they go; Western senators w'll take their places, |as McCumber is about to succecd Penrose. It ought to make a difference. Certainly the: \tariff viewpoint of a senator from North Dakota! If the ‘operation of the agricultural bloc under'| ,feial in | i | i | | | BY JOHN WANAMAKER Every ‘good American must look into the new. year hopefully. There are still the conditions of high wages, high costs, high rents, o high taxes, to be met and dealt with, There will have to be an ad- justment of these things /before business can get on an.even ke.y. Every business man wishes, of course, that it could all be set- tled at once by somes ingle si\yeeping action, adjusting wages, adjusting costs, pu adjusting prices, WANAMAKER» adjusting ‘rents, oo... adjusting taxes, all coming ‘down together. “But it will haye tobe worked out gradually, by, the good sense and rea- sonableness’ of both’ employes and employers; and ‘by’ a good, common sense reduction of the’ federal expen- ditures and ‘federal taxes that have become so’ burdengomds! But letiug,not.be discouraged. The nation is full of life,and health. It has the right spirit and is not pan- icky-minded; it has great opportun- ities, greater than the opportunities of\any other nation in the;world. We made progress in 1921. We are better off than we were in 1920. Nineteen twenty-two will continue to'bd a year ,of settling down ,and getting nearer to an even keel. * BY OTTO H. KAHN International Financier The most pressing problems which the world faces today are not political, not even primarily so- character, but relate to mat- ters of practical economics, ques- “ttions “of trad, employment,pro- duction, .com- yo sumption, distri- ~~ bution, transpor- «tation and. fi- mance. / The most) es- sential thing for everybody to recognize is that. in the last anal- ysis, we are all ‘in the same boat and sink” or .swim together. The most help- ful thing to set prosperity going again for 1922 and thereafter is to carry that recogni- tion into practice instead of blaming our adversity on the other fellow and trying.to get even with him. RHEUMATIC ACHES QUICKLY RELIEVED HE racking, agonizing rheumatic ache is quickly relieved by an ap= plication of/Sloan’s Liniment. For forty ycars, folks all over the world have found Sloan’s to be the aatural enemy of pains and aches. 4 It penetrates without rubbing. : ‘You can just tell by its healthy, stimulating odor that it is going to u_good. 1 Kep ‘Sloan's handy for neuralgia, sciatica, lame back, stiff joints, sore 0. H. KAHN ought to be different from that of a senator from, Pennsylvania, and while Senator McCumber has! jnot distyrbed anybody by obtrusive radicalism, | |still there is bound to be a difference between a/ |Penrose and a McCumber. ! Whether it will make any particular difference |in the forthcoming tariff bill'remains to be seen.’ |Senator McCumber is.a pretty strong protection-| ist, but perhaps he is more susceptible to the, |knowledge that the day of Dingley, McKinley and} | Aldrich tariff laws has passed away. — Duluth! :| Herald. . muscles, strains and sprains. 4 At all druggists—35c, 70c, $1.40, Oat) Makes Sick Skins Well one of Dr. Hobson's FamilyRemedies. Foraciear, bealthy complexion use freely DrHobson’s ‘ | BETTER TIMES ARE COMING! YEP, THIS IS’ THE WEEK OF THE BIG THAW rH | That holds good among individuals, among different sections and callings, and to a large extent, even among nations. Thi-e is no adequate economic rea- son, novwithstanding the huge de- struction of the late war, why the world, and particularly this favored country, should not now: resume the road of prosperity; but in order to do so we must pull together and sét free the forces. of energy~ and enterprise instead of ‘cramping, shackling and hampering them, and we must let ourselves be guided by the tested lessons of economic truths instead of giving’ heed’ to’ plausible fallacies. (From recent statement by Mr, Kahn.) cea ‘BY FRANCIS H. SISSON, Vice President, Guaranty Trust Com- <pany of New York © The year that has just closed has marked, in this: country a turning point in the drastic reaction,.against inflation. The financial and com- mercial . interrelations of nations are so compre- hensive and in- tricate that mo single country, thoweven favor- ableits domestic oonditions, can in a world-wide readjustment ex- ercise fully all its own powers of economic re- cuperation with- out experiencing the’ ill effects of economic de- rangement else- where. i Nevertheless, American ‘busi- ness activity in general has,been for some months gradually emerging from the slough of depression. Moreover, for the most part cur- rent industrial production does not yet) fully. reflect BBR Buby intial ‘im- Ni provement. that* SISSON [I CAN'X CET \ (HAVE THE MoNnNGY SUNTHOUT Your [NAMT. on Dhat’s the, Unanimous Verdict of Business ‘Lenders, ‘Answering Query: What of 1922?” been “effected in| | EVERETT TRUE BY CONDO | = Aw, THat'’s my | SATURDAY, JANUARY 7, ’22 the fundamental business factors, such as the decline in interest rates, the liquidation of bank ‘credit,’ the reductions in accumulated stocks of commodities and the. comparative stabjlization of prices at reduced! levels. A | Nor has domestic business yet had time fully to reflect the economic re- cuperation of the year in various of the former belligerent. countries and the favorable political developments | in the international field. The ‘successful results of {hej Washington conference, already as-| sured, the progress toward a_ solu- tion of the Irish question, the evi-j dence of reviving sanity in Russia, and the probability that. workable} agreements will be made respecting the German reparation payments ‘and the, many commercial restric- | tions which still ‘hinder European commerce, cannot fail to react fave orably ~upon ‘world - industry and Improvement Seen The; distinct improvement since the middle of last year in the funda- mental elements of the business sit-| uation as a whole warrants a much more hopeful outlook for the present year ‘than was justifiable at the be-} ginning of 1921.” ‘ Due ‘recognition, however, should! be given to the fact that liquidation in many lines js not complete. More- over, individual commodity. prices are still in many cases conspicuously lacking in durable adjustment, one; to another. Therefore, whether the rdadjust- ments yet to ‘be effected will involve jfoeenee declines in the prices of fin- ished’ goods or advances in the prices ‘of raw. commodities,- in any case ele- ments of uncertainty remain which ‘must be expected to retard the prog- | ress of, revival. i : se i BY IRVING T. BUS! President, Bush Terminal Company We are going to have bettet times, but werare not going to NAME. ON, j “HERE, MR. | TRUE. 3 i 1 i | | | | | OF ANGCE WORMS ae SSS ed | IT MIGHT Be tour NAMG,AND IT MGHT NOT!) | ALL IT COOKS UIKG TO ME1S'A MESS — { truths: i | College and Doing The constitution States has had a severe strain * sbut it has stood the test. Just be cheer- ful and patient and reasonable. Trade has been very.sick but the myvelous re: cuperative pow- ers of Americans will pull the patient, through. Better let con- valesence ‘take its orderly course. Pills and jtonids wikl) do more narm-than , good. Give busi- ness all the exercise it will stand but don’t overdo jt. Trust to the sound- ness of our constitution and our eco- nomic. strength. | ls have a boom. of the United > BUSI ra BY HARVEY §. FIRESTONE President, Firestone Tire and Rubber Company Our: prosperity’ for the ensuing year depends. upon the recogni- tion by everyone that we still have many hardships to. face and make from a business stand- point, Those who have refused to accept the changed order of things and held to the principles and policies of ‘boom, times in the hope that the mere passage of time and’ the efforts of others would. carry them along will be disappointed in an : business men who make arenes this year are those who have accepted their losses, reduced manu- facturing and distributing costs, and passed, a fair share of that reduction FiRESTONB jon to the ultimate consumer. @nevof the greatest hindrances to the return of better conditions during theipast year has been the failure of many to give real service and have aitrue-appreciation of values.. There is still too much waste and unearned profits in the.cost of dtstribution. The producer of food is not re- ceiving enough and the consumer is paying too much. Somewhere along the line of dis- tribution there is a lack. of economy or refusal to reduce costs and profits. Our present situation will not im- prove’ any faster until everyone recognizes these simple economic Production and service are the only: sources. df ‘prosperity. Manipulation and “speculation never cured any country's economic ills. ok 8 BY J. OGDEN ARMOUR President, Armour and Company It is always safe to predict better times’ because’ better. times in- variably follow periods of depression. i _ As I view it, there is no ques- tion. about whether or not ‘business:is going to. improve. It certainly is, and it is merely a question of when the improvement will be great enough to spell prosperity. _ Ibelieve that we have come to the turn in the road and whileI do not expect good times to re- Zi turn as rapidly as bad times came on, still I think we can look forward with faith and confidence. e Further liquidation in some lines is probably essential, but. in others busi- uess is better thaf in years. LEARN A WORD. | |... EVERY DAY Qearge day's word is DASTARD. ‘Ss pronounced—with accent on the first syllable. It means—a . coward, _ one shrinks from danger. : It come: from—Icelandic “daestr,” exhausted. : Companion words—dastardly, das- tardiness. . It's. used -like ‘this—‘The man who will not aida woman in danger is a dastard.” | | J. O. ARMOUR — ch as z “ | ATHOUGHTFOR | TODAY. if ..- The. Lord shall preserve, thy going out and thy coming in from this time forth and even..forevermore.”—Psalm 121:8. » IW didn’t begin with askings, .| I took my job and I stuck; ;And f took the chance they wouldn't, And now, they're’ calling it luck. —Rudyard Kipling. Average rainfall in Great Britain ranges from 26 to 40 inches a year. D. B.C. MEN HEAD |'24 FARGO OFFICES In Fargo, N. D., ““D. B. C.?”. Means two things— Dakota Business er Constant- ly. Graduates of th cessful old school certainly are ‘‘making good’” in their home town. Managers of 24 large firms were trained here. David Swanson, who began. with the Fargo Marble & Granite Works, but a year ago, is now office man- ager. Beatrice Whitscn was recently | employed by the same firm. D. 38. C. graduates are trained to think, to progress—and they do. Follow the Succe$$ful.”’ Write F. E. Watkins, Pres., 806 Front | St, Fargo, N. D., for terms, ete. acrifices to‘ who- “ ~~ 3 >