Casper Daily Tribune Newspaper, April 29, 1922, Page 6

* geund credit and security but im the customs of char- DMtrade balance of about $75,000,000, but in her trade CaGE Sx €be Casper Daily Cribune | Jamued every except Sunday at Casper, > county, Wyo. Publication Offices, Tribune Building. RUSINESS TELEPHONES 15 and 16 Branch Telephone Exchange Connecting All Departments Entered at Casper (Wyoming), Postoffice as second class matter, November 22, 1916. MEMBER THE ASSOCIATED PRESS President and Editor Associati ec City Editor ing Manager 3. E. HANWAY ..-.- EARL E. siANWAY -- Prudden, King & Prudden iL; 286 Fitth avenue, New York City; Gi ton, Mass. Copies of the Daily Tribune are on file in the New York, Chicago and Boston offices and visitors are welcome. 20-23 Steger Bide. aoa ne mco| Three Months... No subscription by mail three months. All subscriptions must be paid in advance and the Daily Tribune will net insure delivery after subscrip tion becomes one month in arrears. Member of Audit Bureau of Circulation (A. B. ©) Member of the Associated Press. The Associsted Press is exclustvely entitled to the use for publication of all news credited in this paper and also the local news published-herein. Kick if Yon Dent Get Your Tribune. Call 15 or 16 any time between 6:20 and 8 o'clock p. m. if you fail to receive your Tribune, A paper will be de }ivered to you by special messenger. Make it your duty to let The Tribune know when your carrier misses you. Ee Assuming Business Aspect WISE COURSE was pursued by leaders of eco- +1 nomic movements when they invited American fimanciers and American commercial organizations to confer with them with regard to methods by which American capital can be interested in the work to be done on the*other side of the Atlantic. That plan places the movement entirely upon a business basis, whereas the previous propsal to send a representative to the Genoa conference was placing it upon & political basis which could not be productive of satisfactory results. The problems to be solved are econmic and they must be solved, if at all, by men who are skilled in ‘business rather than politics. The men who solve the problems must speak for industrial and financial ¢nstitutions rather than for public institutions organ- gzed by government. Apparently many Europeans had ‘been led to believe that because the United States during the war opened its treasury with a spirit of generosity and Iiberality never before known in the history of the world, that policy would be continued after the emergency of war had passed. Instead, therefore, of grappling with every problem in a man- mer suited to the character of the problem, European Jeaders and spokesmen of European governments were inclined to assume that upon request the United States would continue to finance the needs of Europe. The plan evidently was to have the United States extend its financial assistance not on the basis of ity and generosity. The new movement, which finds its most recent expression in an invitation te prominent American fmanciers to go over to Europe and confer with fin- anciers ‘there, places the whole matter on a strictly business basis, as it should. is Accordi: to recent financial reports, savings of citinens ef the United States are being invested in European securities at the rate of some $80,000,000 per month. These investments do not represent large capital alone but to a great extent the savings of small investors who find in foreign securities what they believe to be a greater opportunity for gain than in securities issued in the United States. Amer- ican financiers who go to Europe to talk over the needs of European industry and the security it can offer for loans and investments will judge the merits of the proposals solely from a business standpoint. to their clients and prospective customers in this country they will recommend or disapprove the proposed investments on a strictly busi- ness basis. fimancing of foreign loans would not be conducted strictly in accordance with business principles but would be influenced largely by international friendships and political considera- tions. ‘The wisdom of the president in declining to send representatives to Genoa is again vindicated, by the immediate formulation of a plan under which it is altogether probable American financial interests, large and small, will be induced, with reasonable assuxance of safety, to render the assistance which, unquestion- abiy, Europe needs. ° Germany’s Chance HE COMMERCIAL RELATIONS which formerly existed between Germany and Russia will doubt- Jess be resumed under the treaty recently signed by these powers, notwithstanding the fact that it has temporarily been suspended. For years Russia found ready and large market for raw materials in Germany. Germany as an intensive manufacturing country trans- formed these materials into finished products and returned them to Russia in payment for the raw mate- rials and shipped the surplus to all parts of the world. In the year before the war Russia had a favorable with Germany alone the balance against her and in Germany's favor was about $100,000,000. Approxi- mately 94 per cent of Russia’s exports were either food stuffs, raw materials or half manufactured arti- cles to be used in further manufacture in other countries. That situation in industry and commerce made Russia a subject nation—subject to Germany. Be-| cause Germany was her closest neighbor and the most} eager bidder for her raw materials, trade relations were gradually established in such a manner as to be beyond successful competition from other countries. Every suggestion that Russia build up her own man- ufacturing interests under the influence of a protec-| tive tariff was defeated through the influence of German diplomacy, either political or commercial. Thus Russia not only formed the habit of sending practically all her raw materials abroad but failed to| develop within her own boundaries skilled workmen| eazpable of conducting manufacturing enterprises. The} training of men not merely to do the manual Iabor but to take supervision of manufacturing plants and| the sale of manufactured products is something that zannot be done in a short period. Through many generations Germany has built up the unexcelled man- ufacturing system which was the basis of her pros- perity. Rossia has the natural resom-ces—the raw mate- risks—the {nel—the water-power—the man power— ell that she tacks is that long course of training, which will give her the skill to make use of her own re- sources. If this Intest treaty shall prove to be, as it seems to be, an evidence of the restoration of the former close commercial relations between the two countries, the greater benefit will certainly be reaped by Ger- many. Lenin snd his associates are sworn enemies of capitalism, and capitalism, of course, is necessary for the development of large | is the friend of capitalism and under the protecting .assistancs of the government has encouraged of combination that would tend to increase her foreign any sort commerce. Under tha policies of the Soviet regime Russia will} continue to be a producer of raw materials—a common laborer—vhile Germany will furnish the skill with which the raw products are turned into highly fin- ished commodities at the far higher compensation which the skilled laborer receives. } , : promise for Russia| but it promises much for Germany. | The new treaty holds out n= Living and Production Costs Ov of the main readjustments which American in- dustry has awaited is the restoration of the bal- ance between costs of production and the costs of Tiv- ing. The preliminary step was the decline in prices followed by the lowering of wages. Probability of hindrance to further progress has been reduced by the tendency toward rising, or at least relatively stabilized, prices. This is particularly beneficial in that it re- duces the number of probable wage disputes with their inevitably widespread evil effects on business—at least so long as the willingness of thy public to accept! firmer prices is not over-estimated. The improvement in the steel industry is partica- larly gratifying in view of the wide range of interests from which the industry drews its orders. The steel ingot output is appreciably ahead of that of 1921, and is proceeding at an estimated rate of 35,000,000 tons per year, a figure which represents two-thirds of present capacity and is equivalent to the 1914 ca- pacity. The production in 1914 was 22,819,000 tons, and in 1913 it was 30,280,000 tons. The indicated yearly production at the beginning of this year was only 18,000,000 tons, and at the. end of February was 29,000,000 tons The March output was the largest since November, 1920. The production of pig iron for the first quarter was also at a rate substantially above that of the pre- vious year. The March output, 2,034,794 tons, was the largest—and was also the first 2-million-ton monthly production—sinee January, 1921. The indi- cated yearly production, 25,200,000 tons, is 50 per cent in excess of that of 1921. The United States Steel Corporation’s unfilled orders of 4,494,148 tons|® reading of your paper during the|it not be well to parcel out the jobs on March 31 showed an increase of 363,079 tons for oe month, the first sabstantial increase since May, 1920. The increase in the steel business is largely the result of greater orders from the more active building’ trades, and the resumption of large-scale buying on the part of the railroads. This improvement has con- tinued in spite of a tendency for prices of pig iron and manufactured steel to recover from the low levels occasioned by the large stocks and slack demand char- acteristic of 1921. British Tariff Fortifications © BRITISH EMPIRE is everywhere erecting eco- nomic defenses and fortifications in preparation for the world-wide war for commercial supremacy which is becoming more and mote evideni. A new customs tariff has just gor» into effect in British India. The British government, not wishing to take chances on India being flooded with impor- tations pending the discussion of the tariff. put the new rates into effect on March 1, 1922, the same day the tariff was submitted to the legislative assem- bly with a provision for a refund of any duties paid under any schedule where the proposed increases failed to be ratified by the assembly. The new British India tariff is characterized by sharp increases in all rates. Articles not specifically mentioned are dutiable at the flat rate of 15 percent. As is true with every British colony, all imports from any part of the British Empire are given preferential rates over imports from any other country. A feature of the tariff is a provision corresponding to the American valuation plan in the new tariff now| before the United States congress. The Indian tariff provides for duties assessed upon a wholesale cash price of the imported articles or upon the arbitrary home valuation of imports fixed quarterly by the gov- ernment. New Zealand, another British colony, has just put inte effect a new tariff which revises all duties up- ward and extends preferential rates to all products originating in any part of the British Empire. The free list which was rather extensive under the former New Zealand tariff has been practically wiped out insofar as goods imported from foreign countries are concerned. There is still an extensive free list of goods from other portions of the British Empire. Like the British Indian tariff, the New Zealand tariff act contains a provision against dumping of foreign prod- ucts and also a provision which corresponds to the American valuation clause of the tariff now before the United States senate. The New Zealand valuation clause specifies that against imports from countries with depreciated currency there shall be levied extra duties which shall increase in a degree corresponding with the degree of depreciation of the currency of the country from which the goods are imported. The action of these two British colonies is consistent with the action of the home country. The English parliament enacted a tariff law which went into effect October first, last, and which is officially known as the. “Safeguarding of Industries Bill.” This act im- poses high protective duties upon over 6,000 commod- ities produced by basic or “key” industries. This tariff also provides for a system of home valuation of imports from countries having depreciated currencies| so that such countries may not evade the tariff by valuing their goods so low that when the duty is added it will be inadeqnate for protective measures. In common with all tariff laws in effect throughout the British Empire, this tariff discrimmates in favor of imports from all other portions ef the empire as against imports from other countries. England is traditionally a free trade country but it has not been so economically unwise as to maintain its reputation for consistency at the evpense of its industries and commerce. The empire has been quick to recognize the oncoming contest for world markets and has taken steps to protect not only the home country; but has been active in inducing all British colonies and dominions to enact such tariffs protecting their territory from a flood of cheaply made foreign goods that would prove ruinous to their local indus- tries and commerce. England and her colonies long since adopted the policy of discriminatory duties against imports from foreign countries as against imports originating from other parts of the empire. Canada began to extend preferential tariff rates to imports originating in the United Kingdom as early as 1898; New Zealand began extending preferential rates'to imports from any point in the British Empire in 1903; South Africa adopted the same policy in 1903; and Australia in 1907. Other British colonies of lesser importance have long. since adopted this policy. British India is the last important part of the British Empire to put into effect protective tariff with preferential rates for imports originating either in the United Kingdom or in British territory. €be Casper Dally Eribune From The School Board Editor Casper Daily Tribuhe: From past week, one would derive the opin- jon that the school board of the city of Casper was entirely a one-sided af- fair. I have been a member of this board for some time and have found them to be very fair minded. There has been considerable controversy re- cently es to the hiring of married teachers, the imprension seeming to be that the board has a rule that it will not employ any married teachers. As a matter of fact the board has no such rule, the question being one of efficiency only. In the election of teachers each year, those married teachers who have made good and given satisfaction and who desired their postiions again have been re- elected, but it has not been the policy of the bourd when hiring new teach- ers, other things being equal, to hire married women, as the board feels that no woman can serve two mas- ters. Any good teacher will tell you that it takes from eight to ten hours of each day to teach a school. She must be there from 8:30 until '4, and it takes a couple of hours outside of that to prepare reports and the work for the next day. It 1s quite evident, therefore, that either the home or the school work will be neglected. The great object the board has al ways had in mind is the good of the child, ard the desire not to change teachers during the year, as it did not wish to break in on the child's school year with a new teacher. During the past two years, however, when mar- ried women have had to quit, the board has always paid them the full salary. showing that hey wish to deal fairly with them. The board feels that when a young couple marry, they have something else in view besides the accumulation of money, and if they are going to try and build a home, sooner or later the wife is going to be incapacitated from teaching school, and no mother who has the good of her family at heart will abandon her children in order to teach school. On the other hand, if young people get married with the sole idea of accumulating money, theyshave no right to marry. PAINS SO BAD WOULD GOTOBED Two Women Tell How Lydia E. Pinkham’s Vegetable Compound Stopped Their Suffering Tron Mountain, Mich.—‘T had ter- rible pains every month and at times had togo to bed on laccountof ‘Sued i lsaw your adver- tisement and took Lydia E. Pink- ham’s Vegetable Compound with = 4 +4 recommendin; ien veee age id to m: i. tee years that way nd I was notreg- ular either. Tread an advertisement of what Lydia FE. Pinkham’s Vegeta- ble Compound had done for other ‘women, so I decided to tryit. Itsurely has helped me a lot, as I have no and feelin; -” Mrs. MARY Das, Route 7, if ou suffer as did Mrs. Garlandor Mrs. Dale, you should give this well- known medicine a thorough trial. ‘ins now and arn: THE DONKEY IS STOPPING MOST OF THE BRICKS HEY - CuT iT out! SATURDAY, APRIL 29, 1922, In these times, when there are two million men looking for work at any price to support their families, would be willing t6 sign a $5,000 bond to pipe the water from the main hofses at $25 per lot. If this be trus why should {t cost $70,000 for the mains, stend-pipe, for a small town ike Mills? “IPMr. Boyle is reported he said the taxes would amount to $300 per year. At present wages no man of family can add another dollar to the amount he is already taxed and get by. Most of us want city water, but we don’t want to be taxed to death to get it. We want sewerage too but as far az possible and see that as many families are supported from public funds as can be done, without injury to the public? SCHOOL BOARD MEMBER. eieetees aad City Politics at Mills Editor ‘Tribune:—When citizens want to register for the coming water bond election, at the Mills Construction company office they were informed that if they voted down the bond issue, they would get something worse. So the cat is out of the bag at last. if water costs us as much as is esti mated we cannot hope to haye any- thing else in the way of public tm- provements until our population is vastly larger. On the Independent ticket, which ‘The mayor has said “what would we do if all of our wells were sealed up ;and we would be compelled to haul water in barrels." Where we would RAM haul it from we could not say unless '@) from the mayor’s dry land farm out If.Mr. Boyle was understood cor- rectly in his.statements at the meeting ASK FOR IT the other evening he said, he would per friendly regard in which the good Maxwell is held by its owners is a dis- tinct tribute to the reliable, economical way in which it serves the average family. C. E. KENNEDY Corner Second and Park Streets Phom>: 1419-W “The Good AXW 466 ELL Building Materials Weare equipped with the stock to supply your wants in high grade lumber and build- ers’ supplies. Rig timbers a specialty. KEITH LUMBER CO. 3 Phone 3 ie F.O. rementher— the towest first cost, the lowest upkeep Detr aod the highest resale vaice —=== of any motor car ever iuili. No other car of this type is priced so low — no other will give you more real motor car value—_more-convenience,more comfort, more dependability than a Ford Coupe. Equipped with electric.starting and light- ing system. demountable rims, extra rim and non-skid tires all around, it makes the ideal en- closed car for business or for pleasure. Reasonably prompt delivery. Terms if desired. 125-137 N. Center St. Community Progress O YOUR pians for community progress and betterment and your resolves for future ex- pansion include a more thoughtful and generous attitude toward your public service organiza- * tions?, If these factors do not enter into your considera-~ tions you are building upon a foundation of sand and your efforts and good intentions will go for naught. No community that fails to take into account these vital elements can thrive or pro- gress. Your utility properties represent a substantial portion of your wealth; they contribute largely to the monthly payroll; they pay the bulk of our taxes; their expenditures for supplies make up a goodly part of your daily business. To ig- nore their welfare or to begrudge them fair rates as wages for their service is to deprive yourself. The destiny of a town or city is linked with its telephone, electric, traction or gas organiza- tions. The measure of support it extends to them will be the measure of its own progress and growth. ; Natrona Power Co. Phone 69