The Bismarck Tribune Newspaper, May 2, 1935, Page 4

THE BISMARCK TRIBUNE, THURSDAY, MAY 2, 1935 Additional ocle Local Epworth League Invited to M’Kenzie About 12 members of the McCabe Methodist Episcopal church Epworth will go to McKenzie Friday ner and assist with a program spon- ‘sored by the Epworth League of the Methodist church in that city. The /Bismarck members will assist with ‘entertainment both during and after ithe dinner. eek Elizbeth G. Wetch Wed to Voil M’Lain | Miss Elizabeth G. Wetch, daughter of Mr. and Mrs. Joseph Wetch of near Bolen, and Voil O. McLain of Fort Lincoln, were married at 2 o'clock Tuesday afternoon by Rev. Father Henry Holleman, assistant pastor at St. Mary’s procathedral, at the rec- tory. The bride's parents and Roy Roberts of this city and the bride's sister, Miss Eleanor Wetch, who were the attendants, were the only guests f@t the ceremony. The bride was at- tired in a light blue crepe gown, while the bridesmaid wore rose crepe. Both carried bouquets harmonizing with their costumes. x ee Indian School Plans Recital and Carnival A recital by piano and vocal pupils of Mrs. Genevieve Menard Hughes from Bismarck and from the local Indian school to be given at 7 o'clock Friday evening will precede the an- nual carnival sponsored by the school’s minth grade to raise funds for the publication of an annual. Both the recital and the carnival will take place in the school's auditorium and will be pen to friends of the institution. | An interesting feature of the an- fal carnivals is the sale of hand- work ‘which has been done by the 1s. Indian school students who will yppear on the recital program are a @ Stack and Luella Momberg, hho will sing a duet, and Irene Morin, ence Goodwood, Sawahu Hosie, hristine Marshall, Irene Stewart, Ed- fa Stack, Agnes Wallette, Mary Es- Me Quidor, and Virginia Whitright who will give solos, and Dorothy Du- tharme who is to be heard in a musi- pal reading. , Other pupils of Mrs, Hughes who pre to take part are Marcella Weisen- 40% OFF—That’s some discount. Off Standard First Line List on Ist Quality Roadgrippers. Holds World’s Speed Record for stock tires. Over 100,000 tires on sale. Gamble Stores. evening to attend a 6:30 o'clock din-; berger, Virginia and Marjorie Heid- fe ee U. S. Urged to Pay As It Fights, Halt and Bernace Edson of Moffit. es ek * Miss Opal Parkins to Be Among June Brides Mr. and Mrs, John T. Parkins of Mandan have announced the en- gagement and approaching marriage of their daughter, Miss Opal Parkins, and Donovan Beach, son of Mr. and Mrs. Orvil Beach, Dickinson. Miss Parkins has selected the month of June for her wedding. Tuesday evening, Mrs. Parkins was hostess at a miscellaneous shower honoring her daughter, inviting 16 guests, including Mrs. R. J. Clancey of Bismarck. The bride-elect graduated from the Mandan high school in 1934. Mr. Beach is a graduate of the Dickinson high school and the Dickinson Teach- ers college and is in the employ of the Dickinson branch of the Nash- Finch company. xk * The St. Theresa missionary group concluded its meetings for the 1934- 35 season when the members met at the home of Mrs. C. A. Schuck, 902 Price Rises to End War Profiteering History of All Nations Shows Heavy Indebtedness Caused by Wars DEBT BURDEN IS GROWING Senator Nye’s Proposal Would Substitute Taxation for Borrowing By JOHN T. FLYNN (Copyright, 1935, NEA Service, Inc.) Here is a strange story of human folly. Im 1793 the French cut off the head of their king. Then they threat: ened to send their armies into Bel- Ninth 8t., for contract games at three|#Um. England was as terrified at tables, luncheon and the usual brief business session. Honors in the games were received by Mrs. C. H. Cloid and Mrs. Arthur C. Anderson. x * *& Mr. and Mrs. J. W. Hintgen and Mr. and Mrs. E. A. Willson were Bis- marck guests when Dr. and Mrs. Bernard S. Nickerson of Mandan en- tertained at a bridge party Tuesday evening complimenting their house guests, Mr. and Mrs. W. W. Fuller of Fargo, former Mandan residents. In the contract games at four tables, Mrs, Fuller and Charles F, Ellis held high scores. Mr. and Mrs. Fuller re- turned to Fargo Wednesday, * * * Mrs. J. J. Dehne, 423 Second 8t., Wednesday receiving a telegram in- forming him that he has been ad- mitted to the third year of the medi- cine course at the University of Ore- gon medical school, which is located at Portland and commences its school term October 1. He now is a student at the University of North Dakota, Grand Forks. * * * aome of her brother-in-law and sis- dan, has gone to her former home at Mrs, W. F. Burnett of Fargo. >—_—________—_—_-¢ | Today’s Recipe | ° —« Tomato Pot Roast Mix one can tomato juice and 1 teaspoon Worcestershire sauce, % and %% teaspoon pepper. 4-pound rump pot roast and lay one bay leaf and 3 slices of onion over the top. Let marinate over night ja@ll sides in hot fat, cover with the liquid in which the meat was mar- |inated and simmer slowly in a covered { hetti or whole boiled potatoes. Edward J. Dehne, son of Mr. andj {rom 1815 to 1855 and then in the. 41 Mrs. Alice Decker of New York| world during the preceding 120 years. City, who has been visiting at the/Then in 1914 she began to pile upon that another THIRTY-FOUR BIL- ter, Mr. and Mrs. Fred Chase of Man-| LION DOLLAR debt. In the last fif- teen years she has paid off some of Dickinson to visit relatives. While|these charges. But she still owes $32,- in the state, Mrs. Decker also is to/ 000,000,000. How long before that visit at the home of another sister,| century-old career of war and con- quest will be puid for? United States owed over TWENTY- FIVE BILLION DOLLARS. With the exception of a small sum—perhaps two or three hundred millions, ii was all owed for three wars — the Civil teaspoon dry mustard, 1 teaspoon salt} War, the Spanish-American War and Pour over|the great war. government. period of 132 years — Great Britain Remove roast from liquid, brown on|/had borrowed only about $80,000,000 in peace times. The balance of her vast debt was the fruit of wars. \kettle for 3% to 4 hours. Thicken| mainly produces those dangerous gravy for serving. Serve with spag-|storms and currents, referred to in the last article, in our economic life the “reds” of that day seizing Flan- ders fields as she was when the Ger- mans of 1914 overran them. She joined in the war against France. In the nine years after 1793, England borrowed nearly $1,400,000,000 — a huge sum in the values of that day. That was 142 years ago. But that debt was still due in 1914 when the great war broke over Europe. Of course, in appearance it was paid, but merely by substituting new bonds for d. 2 In those 142 years England has fought many more wars—against Na- poleon, against America in 1812, against Russia, against the Boers. In the long years of comparative peace years following the Russian War, England kept paying off yearly large sums on those debts. But the hest she could do was to settle her bills for jold wars from i768—over 150 years { before—down to 1793. In other words, in 1914 about the last war she had paid for was the American Revolu- tion. In 1914 she owed over $3,000,- 000,000—almost every penny of it con- tracted to fight battles all over the All Paid for War At the end of the great war the This is the history of nearly every From 1768 to 1900—a Now if you want to know what a nvm _ They stop quicker |: Of course you want | All-Weathers you | keep their grip 43% EE that “margin of safety” in ™ the picture? That’s a real dif- ference in stopping ability — and only Goodyear Tires give it to you. | ever tested against them! ‘1 tection from skidding —at no extra _ cost. And when you buy “G-3” | miles of safety because these tires in and let us show you why. Buy your family a CHRYSLER or a PLYMOUTH and give them the vital pro- tection of safety all steel bodies and hydraulic brakes, SAFETY Here’s why out of war is a plan to prevent fi-| its battles. nancing wars out of loans, The house of representatives measure called the McSwain bill,/in the great flood of new spending which is based on a different theory. | power. It proposes to take the profits out of} from? In a war it invariably comes |should have been easy to check the war by attempting to keep prices} form one source—borrowed funds. In |rise, if such process were feasible at down. gressman John J. McSwain of South | $33,000,000,000. Of this it borrowed|In many lines the highest prices were Carolina, chairman of the house com- mittee on military affairs. based on Mr. Bernard Baruch’s rec-| rowed seven, ommendations. Mr. Baruch was chair- man of the war industries board dur- ing the great war. And in that job Mr. Baruch formed theories about the problem of war profits which are found in the McSwain bill. way to stop profiteering is to restrain prices. ing in the last war. These outrageous price rises resulted in big earnings, swollen dividends, high wages and the whole which cursed the country. Mr. Baruch | water in, therefore concluded that the prices caused the inflation. Therefore, the way to check the war inflation and its|for? The senate committee has de- profits and maladjustments is to|cided that we must pay for it as we check the high prices. check the prices is to forbid them. than any tire this extra pro- also get more longer. Come Corwin-Churchill Motors, Inc. Bismarck’s Oldest and Largest Automobile Business HERE'S WHAT YOU GET IN GOODYEAR’S NEW in the'center. You get the e ste and You get the slow, even wear of closer-nested manraked Blocks and eligi cer anos You more rabber in the tread — an aerage of too” poonde mort per tire, all of which adds up to 43% MORE NON-SKID MILE- lieving that the government must ex- ercise some control over prices. after all the government cannot work miracles. 1917. But the prices went up just the same, and the government had to acquiesce in the rises—even issue or- ders authorizing them. economist—old or new school—can tell you, do not produce the inflation. It is the inflaticn which produces the|gan before we entered the war. As high prices, the high profits, the high wages, The inflation is caused by the sudden unloosing into the market of vast new floods of purchasing power. stant war is declared millions of men are summoned into the armed forces. There at a stroke is the biggest kind of big business. four million men cannot go to war barehanded. forms, guns, powder end ball, cannon, shells, ships, airplanes on a gigantic scale. This means another five or six or more million men to make these things. power which they carry over into the peace time market to buy luxuries, amusement, clothing, furniture andj|us up to the bursting point. necessities on @ more elaborate scale. short of men because millions are |had risen so high then that very soon drawn into the war industries, «+. War: The Biggest Boom... during wars—and after them—there | entiy we have a strange, sinister, evil |Steel prices had risen 370 per cent. is the answer. War borrowing. kind of prosperity which results from |They were actually falling when the ‘Would Prevent Borrowing the fact that the nation is at war and/government began to try to check The senate bill to take the profits; must spend countless billions to fight | prices. It has been charged that the government really kept steel prices ‘You are now near the answer to | from going lower. passed a/the question. The inflation consists} We tried price fixing during the war. In view of the enormous rise which had already taken place, it has Where does this flood come It was introduced by Con-jthe last war the government spent !all. But the prices continued to soar. Cotton goods were at a price index of 181 before price fixing. After price fixing they were 255. Coal at 160 be- fore price fixing soared to 207 a full year after. Wool was 208 before price fixing. It reached its highest point after at 200, These are but a few instances, ‘The men who managed price fixing were criticized. They certainly might have done better. But they were really helpless.. It was like trying to hold back the sea. The billions kept pouring in. They disrupted, upset, twisted the whole economy, unbal- anced the cost and labor and profit factors so hopelessly that the govern- ment was powerless. Want Ceiling on Prices Congressman McSwain and Mr. Baruch hope to prevent a repetition of this by putting a ceiling over all prices when the war starts—prohibit- ing any prices from rising at all un- less specifically permitted by the gov- ernment, thus doing away with price control. zi However, the Nye bill proponents think there is but one way to meet this problem. It is to begin at the be- ginning—to prevent the inflation by avoiding the thing that creates the inflation, This can be done by tax- atlop—severe taxation. Drastic! Yes, but war is a terrible thing. Drastic! Yes, but not as drastic as knocking on & man’s door and summoning him to the trenches to be killed or used up. Plan Not Communistic Of course, it was inevitable that someone would say this is commun- ism—a scheme to’ change the govern- ment when war starts. Of course, that is too utterly stupid. In the last war @ petition was presented to the congress which read as follows: “We, the undersigned teach- ers of political economy, public finance and political science in American universities and col- leges, respectfully urge upon congress to sdopt the policy of taxation rather than that of bond issue as the principal means of financing the expenditures of our own country in the war. The taxation policy is practicable. It will prevent the price inflation which must result from large bond issues, It is demanded by social justice. It will increase the efficiency of the nation in the conduct of the war.” Just a lot of red professors? Well, the group was headed by Dr. O. M. W. Sprague of Harvard University who is regarded as one of the country’s leading conservative economists. Here is another paragraph from some “reds.” “War is a relic of barbarism. It is $22,000,000,000. Out of every ten dol-|reached after we began price fixing. It is}lars we spent for the war we bor- = justifiable only as a means of defense. man-power of the nation is drafted, all other resources should also be war by depriving it of profits.” That's from the Democratic nation- al platform of 1924, From the last war we have left a debt of SIXTEEN BILLION DOL- LARS. For this depression we will have piled on another EIGHTEEN BILLION DOLLARS by 1936. Are we prepared to venture into another war and to pile on top of this staggering mountain of debt a still higher one of forty or fifty billion?—for the next war will be the costliest of all if we do not restrain the profiteers. PNEUMONIA CLAIMS PIONEER RESIDENT Mrs. Bryam M. Beers, Former County School Teacher, Suc- cumbs at Home Here Mrs. Bryam M. Beers, 71, pioneer Burleigh county school teacher, died at 8 p. m. Wednesday at the Beers residence, 930 Eleventh St., from old age complicated by an attack of pneu- monia, She had been in poor health for several months, Funeral services will be held at 2:30 p. m. Saturday at McCabe Methodist Episcopal church of which congrega- tion she was a faithful member. Rev. Walter E. Vater, pastor, will officiate. Burial will be made in the Fairview cemetery. The body will lie in state at the Convert Funeral parlors Fri- day night. Arriving in Burleigh county from Ohio in 1899, Mrs, Beers taught school for many years at Menoken and in Grass Lake township. Born February 5, 1864, at Harrod, Ohio, the daughter of Mr. and Mrs. James Harrod, she received her edu- cation in the schools there. She was married to Bryam Beers January 1, 1886, at) Lima, Ohio, and came to North Dakota with her husband three years later. Besides her husband she leaves two sons, Otto ahd Darwin, both of Bis- marck. A sister, Mrs. Arman Merrit, died on March 13 at Petersburg, Va. —_—_——_— LOANS WANTED ON in Bismarck Price Owens HOMES phone 278 In the event of war in which the ‘When the government pours twen- ty-two billion dollars of borrowed money into a great new war industry and these billions are taken out by the war workers into the peace time industries spent there, ho amount of government control can keep prices from rising. You might as well keep on pouring water into a bowl and then try to keep the bowl from over- flowing by regulation and making rules. The way to prevent the bowl inflationary movement} from over-flowing is not pour the Mr. Baruch’s theory is that the Mr. Baruch saw prices soar- Pay As We Go Along How, then, is the war to be paid The way to|go along, out of our current revenues. ‘We must pay cash for the next year. And the government must get the cash by taxing. But if the government collects billions in taxes and spends them, will this not produce war inflation just as if we spent borrowed money? When you spend borrowed money you add money borrowed to the existing income and swell the expendable funds of the nation. When you tax, you merely shift existing income from peace purposes to war purposes. In the great war the inflation be- Cannot Work Miracles Mr. Baruch is quite right in be- But It tried to check prices in ‘The high prices, of course, as any Germany crossed the Belgian frontier, every boat that landed here from Europe brought the purchasing agents of the European war machines. They came with cash at first — money drawn from their own people by taxes and borrowing. Then they began to borrow from us. In 1915 England and France borrowed $250,000,000 through |” the Morgans. ‘Thereafter, and before we began to fight, England borrowed another billion dollars in this coun- try and France borrowed $436,000,000. Russia borrowed $102,000,000, Canada borrowed $110,900,000 from our people. Inflation Came in 1916 Altogether before we entered the war, European and other governments raised $4,300,000,000 here. They bor- rowed $2,400,000,000 on bonds. They And what produces the inflation? The in- But these three or They must have uni- shoes, helmets, gas masks, Evil Kind of Prosperity Immediately these millions of sol- diers and employes in the war supply |recaptured $1,900,000,000 by selling plants are being paid with govern- | American securities owned in Europe. Every Popular ment funds—new money—fresh sup- | All of this and much more was spent T e an id Style! plies of income — new purchasing|in this country. When we entered yp ca the war the inflation was in full blast. Our $22,000,000,000 piled on that blew ‘The full fury of the pre-war in- ‘The peace time industries are soon | flation came in 1916. In fact prices Pres- | they began to fall of their own weight. Notice A dividend of 5% of the face value will be paid to the holders of certificates issued by the Depositors Holding Company (City National Bank, Insolvent) of Bismarck, North Dakota. The cer- tificate holders are directed to present their cer- tificates to Mr. N. I. Roop, Secretary, for endorse- ment. — ’ Due to unsatisfactory financial conditions much delay has resulted in liquidating the affairs of the Depositors Holding Company. The Secre- tary reports that the original loan of $218,247.21, made during 1927 for the purpose of paying 60% dividend to the certificate holders, has now been paid in full. This loan was made fom the banks and from individuals and was a prior claim against all collections. After a further dividend payment of 5%, aggregating approximately $15,000.00, a small cash balance will remain. Future dividend payments will depend entirely on prevailing finan- ‘cial conditions. DEPOSITORS HOLDING COMPANY. Values That Fairly Shout In This Exceptional and Timely Offering of Navy, Stitched Collars... Tight-Twisted Tweeds! drafted. This will tend to discourage Dressy Coats! Sporty Coats! Swagger Coats! And every one an outstanding value! Tweeds in all the new weaves and material and every coat was made to sell for much more than this sale price! In Bismarck