Casper Daily Tribune Newspaper, April 2, 1924, Page 8

=. PAGE EIGHT. be Caspet Daily Cribune 1 The per Daily Tribune issued every evening anc ‘The Sunday Morning Tribune every Sunday, at Cas- per, Wyoming. Publ.cation offices: Tribune Building, opposite postaftice. Oe Entered at Casper (Wyoming) postoffice as second matter, November 22. 1916. Business Telephones --—-~~-. a----15 and 16 Branch Telephone Exchange Connecting Departments. By J. B. HANWAY and E. B. HANWAY EMBER THE ASSOCIATED PRESS The Associated Press is exclusively entitled to the use for publication of all news credited in this paper and also the local news pub!ished herein. Advertising Representatives i Prudden, King & J'rudden, 1720-23 Steger, BGs. oe cago, IL, 286 Fiftta New York City; Globe S Bostun, Mass. Suite 404 gomery St., San Francisco, Tribune are on file in the N' and San Francisco offices and 3 Cal. Copies of the Daily ew York, Chicagu, Boston, ] visitors are welcome. Member of Audit Bureau of Circulation (A. B. ©.) SUBSCRIPTION RATES By Carrier and Outside State 39,00 One Year, Dally and Sunday sarsre 4 One Year, Sunday Only Six Months Daily and Sunday --. Three Months, Daily and Sun One Month, Daily and Sunday -. Per Copy sn bs By Mall Inside State One Year, Dally and Sunday Te anaeeeney 1) One Year, Sunday Only ---<--———--————-———---" 4399, Six Months. Dally and Sunday oom iT Three Months, Daily and. Sunday —-~-------—-~ 4.50 15 ‘05 ew TS One Month, Daily and Suncay ane the ‘All subscriptions must be paid in yee a M delivery 2! Daily Tribune wil not insure tion becomes one month in arrears. ns Si cICK. IF YOU DON’T GET YOUR UNE. yet ane find your eet ha Feiner 9 It 5 c nd it w: 1 a Oe Ne a oe manistar complaints before $ by o'clock. Recovering From Paralysis. Senator Moses of New Hampshire, chairman of the senate committee investigating charges of land frauds in the Texas Rio, Grande val- ley, having seen fit actually to perform = duties of chairman, has very greatly stirre up the wrath of Senator Heflin of Alabama. It seems that Senator Heflin, who ee bere dubbed the “prosecutor” of the investiga eat had an idea he could run the investiga ie the Texas land case in the same ey fia Walsh of Montana, and Wheeler of Mon oe run the investigations by the oil oma re y the Daugherty committee. It seems t os aon ator Heflin was afflicted with the idea tl ete could use the same bully-ragging and rhe 1. zt ing tactica which Walsh and Wheeler aye 2 successfully adopted. But the pre etnl ee Alabama failed to reckon with .the fac’ ; oy. the committee investigating the alleged en | frauds has a chairman-in-fact, while the com- mittees which Walsh and Wheeler have con ed and intimidated have chairmen-in-name only. Using the same tactics employed by wee and Wheeler, Heflin is bent not upon bring- ing out the truth, the whole truth and nothing but the truth. But, like Walsh and etlepatr he is bent upon bringing out but one te controverted question and compelling a | committee to reach a conclusion upon testimony | entirely perjudiced and to a very large extent | of very questionable veracity. Heflin, who has as hig assistant in the “prosecution” a lawyer | now under indictment, a lawyer against whom disbarment proceedings have been instituted, is one of lawlessness and partisan buffoonery, which havé become the daily performance of some of the investigating committees of the present senate. This should occasion no sur- prise, however, in view of the senator's own Tec- ord for lawlessness. For this is the same Hef- lin who shot twice at a negro on a street car in Washington some years ago wounding an innocent bystander as well as the negro. It is the same Heflin who thus committed a felon- ious assault with a deadly weapon, wounding two and endangering the lives of other inof- fensive American citizens—and got away with it. | The unwillingness of Senator “Moses to let) the tempestuous and irrational choice of Ala-| bama Democracy run the committee of which the New Hampshire Republican is the chairman | is a sign of Republican resuscitation from | paralysis and coma that is, indeed, encourag ing. What is the Law? Whether or no the laws of the United States are in such shape that the average lawyer can ascertain to a certainty what they are on some is apparently a small matter to 4 roint fie United States senate. What is evidently of supremen importance is whether some officer} of any branch of the government has made or lost any money in speculation in oil stocks. We beg to suggest a short way out for the “prose. ting officers” of the senate, If the accused is a member of a party in power, then let it be adjudged that he is guilty as charged. On the other hand, if he is a member of the minority party, then let it be adjudged that he is as in- nocent as a lamb, and whiter than snow. That ought to satisfy the minority party and clear the docket so that congress can get down to business and do some of the work which it was elected to perform. There is no matter before the United States senate today of greater or more national im- portance than the codification of the laws of the United States now in force. Three times has the house of representatives voted to adopt} the codification of the laws of the United States |of gas companies, while not quite so rapid as as prepared by the committee on revision of the laws, of which Congressman Edward C.| Little of Kansas is chairman, and twice has} the se failed to take action ‘thereon. The} bill is 1ate for the third time, and it is to be*hoped that, ag the youngsters say, “the third time is the charm.” The bill, that is the codification, as it passed the house is in constant use, is of the utmost value and accurac The “Statutes at Large” comprise 86 yolur the last codification hav- ing been made in 1874, fifty years ago. Every} session of congress sees a modification of laws previously in force, Some are repealed, some| amended. A jndge or lawyer who would depend upon the published statutes of forty or fifty years ago would cut a mighty poor figure in| ri t. He » take nothing for granted, but! t ire that the law has 1 been chang 1 be with the codifica i nd examine each and every statute nee then, so as to be certain that has not been repealed or modified. n, too, there are many laws which have no| al application and are of no general in- Such laws may not have been repealed terest. but they are no longer applicable and, so long as they are upon the statute books, they simply cumber them. The Little codification has cut out all the laws not of general application, and all those ach have been specifically repealed while the laws which have been amended appear in their pres- ent form. The thirty-six volumes of the Sta- tutes at Large have been condensed into one volume. The house of representatives has ap- proved this volume as representing all of the Jaws of the United States in foros up to date. If the senate shall concur therein, then the Little codification will su the Statutes at Large as the laws of the United States. The codification would thea become the A#tates code or statutes and the Statutes at Sharon Bldg., 65 New Mon’ Large would be valuable only historically as) books of reference. v It does not require a lawyer to see at a glance how important it is that all of the laws in force should be gathered together in one volume under appropriate headings, so that it will be easy to ascertain what the law on any given subject really is, and so mistakes may be avoided. There is no one matter before the United States senate today of greater or more national im- portance than the codification of the laws of the United States now in force. The codifica- tion has been made and should be speedily adopted. ‘ Growth of Utilities. The gross revenues of electric light and power companies last year totaled about $1,300,000,000, and more than $5,600,000,000 of capital has been invested in their securities. Recent estimates of the growth of demand for electricity place the additional capital which will be required in the near future at $3,500,000,000. The progress electric utilities, has been none the less extra-} odrinary. Although securities of utility corporations have not reached quite the same investment standing ag the securities of comparable rail- ways, this has been due to their more recent de- velopment and the fact that the investing pub- lic is not so familiar with their history as fully to appreciate their worth. Steady increase in earning power is the outstanding characteristic of public utility corporations and defaults have been relatively few. The increase of customer ownership, together with many favorable court decisions, have been instrumental in bringing about generally wise public regulation. The development by investment bankers of conservative mortgage provisions which have stogd the test of time places the underlying bonds of utility companies on a basis of sound security, In many states, these bonds are legal investments for savings banks and trust com- panies. The investment rating of the junior securities of such corporations should rest on their earnings power after proper depreciation. Prospective earnings ought to be examined with care by all intending purchasers of such issues. The high degree of marketability which even the unlisted utility securities enjoy, and the af- tractive yields which they offer by comparison with other wéll secured issues combine to ex- plain the favor and interest of investors. The | increasing operating efficiency and growing im- portance of utilities in our economic life should assure the steady enhancement of their invest- ment standing. Industrial Development. The industrial output of this country is con- stantly increasing in variety and quantity. In this respect the production of manufacturers | is quite different from agricultural production, particularly the production of things to eat. There is a definite limit to the consumption of foodstuffs, consumption may be shifted from one kind of food to another, but the aggregate does not exceed the digestive capacity of the population. On the other hand, manufactures and marketable services are offered in infinite variety and appeal to insatiable wants and stes. The proportion of the population en- gaged in producing food is a constantly di- minishing one, although of course the produc- tion of food must increase with the growth of population. Industrial development is always going on and the industrial equipment is being constant- ly replaced as a result of the adoption of new methods. We are moving toward the situation predicted by Thomas A. Edison, where labor's task will be not much more than tending ma- chinery, although this does not mean that labor will be in less demand or suffer reduced pay; on the contrary, the greater its productivity in connection with machinery, the greater will be the demand and compensation. These changes in industry are stimulated by high labor costs, resulting from wage increases and the short- ening of the work day. The demand for labor in the making of new machinery and equipment is en important factor in present prosperity, and likely to be an even greater factor, for in- vention is busy in all lines, The amount of central power station construc- tion is very heavy, and plans are developing for covering the country with a net-work of Tnited | ; knows many of the facts of our his- electric setvice wires, supplying power and light to villages and farm homes. Within the past month announcement has been made of the linking together of an important group of power companies in western Pennsylvania, Ohio and West Verginia, covering an extensive area. Similar developments are going on in all parts of the country, and signify increased power facilities and cheaper power, with im- portant industrial resulis. Reports are cur rent of pending improvements of significant im- portance in the generation of steam power These developments in one line are mentioned simply as suggestive that the copstructional work involved in industrial changes is likely to beof greater importance that that involved in the decline of house-building. Moreover, if our in- dustries are improved and made more produc tive, there will be no decline of house-building, for everybody will be wanting larger and better houses, and incidentally more in them. We would emphasize that there will be no need for industry or business to slow down for want of something to do, but it remains trne that all such development must have back of it the spirit of enterprise that has been behind | our development in the past, that this enterprise must be sustained by the usual incentives, and that there must be earnings, profits, savings, to supply the capital to make these industrial changes that are always waiting to be financed, The development work which ix an important factor in keeping industry busy can go forward } only a# the pool of capital available for Invest: ment is constantly replenished, ‘be Casper Dally Cridune Editor Tribune: I will thank you very much if you will tell me his name and allow me to come to your and shake the hand of the man who is'responsible for the editorial in Saturday's Tribune about Al Jennings. I have read many otories about this outlaw chief, but your story is the best and truest I have ever read. I wonder if Senator Walsh would like to know something about the Hatfleld-McCoy- fued that started fifty-one years ago last May. If he would I would Ike to go to Wash- ington and tell him about it. I was raised in the mountains of Kentucky, and we learned very lit- tle there; but we learned one thing for certain and that was when an outlaw was caught, we knew just what to do to prevent him getting & pardon or swearing to a lie about anyone else afterward. And had Mr. Jennings ever paid a visit to the mountains of Kentucky when he was the great outlaw chieftain, he would now be in a much warmer climate than Washington, D, C. JESSIE HATFIELD. What Mr. Underwood Represents It is very possible that Senator Underwood will be the Democratic nominee for president. It would be absurd to belittle him. There is no one on his side of the senate who can mako a better partisan speech, and no one on either side of the senate who can better frame a bill. Native capacity for legislation has in his case been supplemented by long training. He has what wo may call the technique of congress in as large measure as any man now in Washington. If he should be elected president he would be able tactfully to express his desires to our law makers, he would prob- ably get along well with his own party and would be courteous to the opposition. One can hardiy say less than this for Mr. Underwood, and there is not much more that can be sald. He 1s a man who undoubtedly Guthrie's crazy tariff of 1857. of argument. indeed pointed the way, but his. party lost control of congress, and his death checked his great plans. It was under Jefferson that the manufacturing system grew apace. It was under Madison that our schedules were doubled. It was in Monroe's time that Calhoun planned ® great industrial system for the South, How superbly Mr. Under- wood might have shown us thé broad, the national, the progressive spirit of John C. Calhoun at his best, and then portrayed the narrow demagogue Calhoun stooped to be. No man now living could have done this better. -Yet not once has. the Alabama senator proclaimed that all that was great in the old South stood for American industry, and that the free-trade spirit only be- amo aggressive when the South chose a slave pen as its economic standard If a man of Mr. Underwood's abilities had taken the facts of southern history and woven them into speeches for business conven- tions he might have rivaled Henry W. Grady. How he might have con- trasted Henry Clay’s presentment of spend ten hours in getting a fillbustering. Alabama senator. nullified by the war conditions. supporters of protection. has virtually indorsed Calhounism, the Walkerism, nomic issues of the South. man repr tory and yet has misinterpreted them. The bare mention of his name suggests above all things hostility to the great principle of protection, It was his purpose to give us a tariff avowedly antl-pro- tection. Jerry Simpson and Magnus Johnson might have attempted something in that line because they did not know any better, but Mr, Underwood knew a great deal of the worse sone the less. Lines And Angles BY TED OSBORNE ‘When years ago a protectionist | , asked a question Roger Q. Mills} pong could not answer, Mr. Mills retorted 4 by advising him to go take a bath. Mr. Underwood !s above that style He respects the pro- prieties of debate, and would rather | thin ice end rescued a playmate who 1! had broken through, into shape than devote an hour to If the free-trade forces are to rule our destinies they cannot do better than choose the But to say of a man of long pub- lic experience that he is content to Jead retrogressive columns is not high praise. Oscar W. Underwood has seen the development of the South, a development which but for | protection could not have been. He Saw the worst features of the tariff of 1894 cut from the text. Hoe saw that his own tariff was largely A He! knows many of the southern bust- ness men, raflroaders, bankers, frult | growers and manufacturers who are But he | the later the | Guthrieism and all the worst eco- | /—4 If a} ents a theory condemned by the facts of history what does it profit it to represent it cleverly? An adroit speaker may make the worse | appear the better reason, but it is our history. ‘He knew that our real| Some you'll think I am th’ allfiredest lar manufacturing activity dates from| Of our in th’ state.” Jefferson's embargo and its excl: Leading ston of foreign goods. He knew| Capitalists Specialize in Capitalizing that the Non-Intercourse act and the war of 1812 strengthened the The optimist advises us to take care of our pennies, and the pes- simist adds that the dollars will take home producer, while the tariff re- letter care of our heirs and their lawyers. ductions following the war almost prostrated us. We may find per- A Short Story sons who do not know these facts Uncomplimentary The famous detective broke'down but a man who, term after term, returns to congress cannot help knowing them. It was also borne fn a thousand tiines on the consciousness of Mr. Underwood that it was the South that for a generation gave us what- ever protection we had. Hamilton the door, and entered ment, Stranger—'Can you direct me to the best hotel in town?” Native—Yeah, I kin, but I hate t’ do it.” Stranger—“Wh> do that?” glance. Furniture and you say e after you the carpet. e BZ (\ . 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