Evening Star Newspaper, November 20, 1921, Page 46

o, 2 THE EVENING STAR, With Sundsy Moraing Edition. WASHINGTON, D. C. SITN’DAY... . .November 20, xmn Tuononz W. NOZES. .. .Editor I'he Evening Shr Newspaper Company Business Office, 11th St. and Pennsylvania Ave. Chicago Ofice: FY e ‘Benk Hullding. European Office: ' Regeat 8t London, Eagland. 3 nday morning i by cartiers withia the elty Gaity only, 45 cents per The Evenin, edition. ‘n del 60 cents per mont umnth Sunday oaly, ders may be seat by mall, or 30 cents per month. Or- lalephone Mala 5000. Collection is made by cw at the end of each month. Rate by Mlll—-hnble in Advance. Maryland and Virginia. Sunday_onl The Anglo-hpneu Alliance. A successful outcome of the confer- ence on armament and far eastern questions can be hoped for only if there is the utmost frankness in dis- cussion of the issues involved. The government and the people of the United States stand ready to give full and unprejudiced consideration to the views of all the participating powers. ‘There are no subjects, directly or re- motely bearing on the problem, which this government and the people of this country are unwilling to have brought before the conference. In the inter- ests of the great prize to be achieved, the door is open to any matters which may be considered to come within the scope of the conference call. And it is expected in return that the other powers will not have thelir sensibilities ‘wounded if the United States asks for the same full and unprejudiced con- sideration of things which it regards as vital to the objectives sought— peace and better understanding and the lightening of the burdens of arma- ment. One matter which the people of this country regard as bearing directly and vitally upen Pacific and far eastern problems is the alliance between Great Britain and Japan. Bellef is deeply implanted that assurance of the abrogation of this treaty ought to accompany any agreement for the limitation of armament and any set- tlement of far eastern questions. In fact, the United States cannot regard far eastern questions as settled =0 long as this treaty is in existence. This is not because there is any ex- pectation that the United States ever will become involved in a war with Great Britain and Japan. Such a war is unthinkable, and the idéa is mon- strous to the American mind. But the conference, fortunately for mankind, is dealing with realities, and it cannot close its eyes to the fact that, as mat- ters now stand, no assurance can be given that such & war is not among the possibilities of the future. We are told that it is inconceivable, and per- “kaps it is. But a few years ago it was indonceivable that the United States ever would send an army of millions of men to fight on European soil. Yet it came to pass. The theory of eternal fl'lendahlp with our kindred of the British Isles is dear to American hearts, but the British alliance with Japan is an ac- tual, tangible thing which contributes nothing to increase the hope that that friendship always will endure. It is true that there was inserted in the treaty a clause which has been inter- preted in England to mean that Great Britain cannot be called upon to en- gage in war against the United States, but authorities on international law are not agreed as to the validity and binding force of that clause. No one questions the good faith of British statesmen in their present in- terpretation of the treaty, and the probability that it always would be so interpreted is strengthened by the at- titude of the British dominions; but in dealing with realities account must be taken of the fact that the high im- probability of a thing does not remove it from the realm of possibilities. And there has been no satisfactory answer to the question: If the treaty is not to operate in case of war with the United States, why continue it? ‘When the alliance was negotiated, nearly twenty years ago, Russia menaced both Japan and British In- dia, and the growing naval strength of Germany gave concern to England. ‘Today both Russia and Germany have ceased to exist as military powers sufficient to cause apprehension in either Great Britain or Japan. Cer- tainly neither Great Britain nor Japan is menaced by either France or Italy. This leaves the United States as the only power to which the terms of the treaty could, for many years to come, be expected to apply. But granting that the Anglo-Japa- nese alliance never could bring the United States and Great Britain into armed conflict, it still shadows the possibilities of better understanding, and stands as an obstacle to an adjust- ment of far eastern questions that would make for enduring peace. In the peaceful negotiation of settle- ments this government cannot and must not be handicapped by a formal alliance which binds Great Britain and Japan to act together on issues as they arise. The arrangement would be too one-sided to inspire good will and mutual trust. These facts are sufficient to explain the profound conviction in America that abrogation of the Anglo-Japanese alliance should accompany settlement of far eastern problems and a naval holidsy. Wholly unexpected and un- believable things may happen in ten years, as witness the ten years just gone by. If this country is to be pledged for a decade not to increase its defenses, the American people want to be assured that there is no existing combination of powers bound by alliance which outmatches us in military strength. Becretary Hughes managed to se- cure world-wide applause without any apparent rheterical effort whatever. Taunching and Scrapping. ‘There is something tragic about the launching yesterday at Newport News of the superdreadnaught West Vir- ginie, which, if the naval holiday plan is adopted by the United States and the other powers represented at the lrlEl conm'uu. will in & fow months be condemned to the scrap pile or towed to sea and sunk. This immense ship, one of the greatest ever designed for the American Navy, falls under the ban of the American plan for naval reduction. At the present stage of her construction she is practically the last word in naval fighting units. Sreater ships are in contemplation, and at some stage of construction, and they, too, will go into jurtk if this plan i= carrled into effect. Yet, whatever the sentiment of ré- gret for wasted effort, the scrapping of the new ships will be in accordance with public wishes and hopes. These immense fighting craft costing many millions in construction are after completion objects of ceaseless ex- penditure. The mechanical main- tenance bill of a battleship of the West Virginia type is enormous. ‘When fully manned and officered such a ship drains the Treasury at an an- nual rate to keep a good sized college richly endowed. In the case of a bat- tleship, as it is often said in bitter pleasantry of a motor car, the cost is greatest after purchase. The country is inclined to look upon this matter of naval scrapping in a more businesslike way since evidence 1s had that the other powers are sin- cerely desirous of effecting a pacific understanding, based upon good faith. No amount of money is ever grudged the government for proper prepara- tion against a real danger. But when the danger is lessened the people be- gin to count the costs, and hence their willir~ess to see this splendid me- char creation that took the water yesterday at Newport News broken into junk if the holiday plan is estab- lished. Maj. Gessford’s Retirement. Retirement of Maj. Harry L. Gess- ford as superintendent of police is officially based upon his physical dis- abilitles, upon which the board of po- lice surgeons has reported to the Com- missioners. Maj. Gessford is undeni- ably broken in health, but his failure of health is in turn due largely to the severe strain to which he has been subjected for a number of months, since his appointment, in fact, owing to opposition which has sought in him a victim. Had he been of a stouter constitution he might have withstood this stress and pressure. The Commis- sioners have loyally supported the po- lice superintendent in his actions and management of the department, and have resisted the pressure for his dis- placement. They could not, however, protect Maj. Gessford from the effects of the continual criticlsm to which he has been subjected, and they have now reluctantly approved his application for retirement, expressing their con- fidence and esteem in a formal com- munication which is to be accepted and will be heartily approved by the community as & sincere tribute to his faithful, conscientious and capable discharge of duty during the term of his chiefship. Report indicates that Maj. Gess- ford's successor will be a man chosen from outside of the local department. The District is keenly concerned in the proper filling of this important office. No other consideration should prevail but the rendering of the best service to the community. The posi- tion should not be regarded as patron- age. The man chosen, whether from the department or outside, should be strong enough to command respect and obedience by the force and the confidence of the people. Police failures are not always due to police chiefs. In fact, they are usually due to other causes, as, for example, lack of force, inadequate pay, in turn causing a lower standard of personnel than the responsibilities require, or exceptional local conditions. The situ- ation in Washington is in some re- spects. unusual. The police chief h: here a heavier responsibility than in many other cities, and at the same time, owing to division of jurisdiction and the nearness of federal authority, he is under handicaps. A high stand- ard of police efficiency is exacted be- cause of the welghty interests center- ing here. The community itself is law-ablding, better than the average. There is no higher degree of crime prevalence than elsewhere, claims and charges to the contrary notwithstand- ing. But a District police chief is ex- posed to demends and pressures that are not felt in other cities, and a suc- cessful superintendent is required to consider many factors that are not faced elsewhere. ‘The people of the District have con- fidence that the Commissioners, in se- lecting Maj. Gessford's successor, will consider primarily the question of the local welfare, the security of the com- munity and the good ol the police force. 1 Nations are now reverting to the old school examination formula. Having asked whether there must be navies, they add, “If 80, how much and why?” f Having been evicted from the salaon, old John Barleycorn is persistently seeking refuge in a drug store. In diplomacy the explicit reserva- tions are often less important than the mental reservations. Japan’s Chinese Policy. The statement made yesterday by Admiral Baron Kato, head of the Japanese delegation to the conference on srmament and far eastern ques- tions, in response to the propoeals of the Chinese delegation, is as notable for what is left unsaid as for what is said. So far as the statement goes in outlining Japan's policy with respect to China it leaves nothing to be de- sired. But it is disappointing in that it fails to come up to the measure of what had been expected from Japan. Because of things which had been said in an unofficial way hope had been entertained that Japan, following the generous lead of France and Great Britain, would voluntarily offer to withdraw from Shantung and her other footholds on Chinese soil. Shantung and Manchuria were not mentioned by Admiral Kato. This does not mean, of course, that Japan is resolved not to relinquish these footholds. In fact, some parts of the statement are capable of being interpreted to mean that at some later time there may be expected a fuller exposition of the Japanese position more in accord with the aspiratioris of the Chinese people and the desires of THE SUNDAY STAR, WASHINGTON, D the rest of the world. It is stated, for instarice, that Japan is “entirely unin- fluenced by any policy of territorial aggrandizement in any part of China,” that she adheres “without condition or reservation” to the policy of the open door and equal opportunity, and that she “does not claim any special rights or privileges.” * The Chinese delegation my find comfort in assurances that Japan has no desire to interfere in the internal affairs of China, that “Japan has every desire to cultivate the happiest relations with China,” and that the Japanese delegation to the conference is “solicitous of making whatever con- tributions we are capable of toward China’s realization of her just and legitimate aspirations.” Taken as a whole, the statement may be said to be as satisfactory as ordinarily is the case with such diplo- matic utterances, and it suffers only when compared with the frankness and fullness with which other powers have declared themselves at the pres- ent conference. It at least leaves the way unobstructed for further discus- sions, and is a distinct advance in that it formally abandons Japan’'s position that certain incidents were ‘“accom- plished facts” and therefore closed, and specifically declares a willingness “to explain or discuss any problem ‘which in the wisdom of the conference is taken up.” i Turkey. None of us seems touched by the impending fate of the turkey. Our idea seems to be that he, and she, were laid, hatched, brooded and other- wise brought up for the single pur- pose of being a sacrifice on the holi- day of Thanksgiving and the holiday of Christmas. *“‘Hatched to be Martyr" might be the slogan of the turkey or the motto on his crest. Perhaps it is. Man has never given much serious study to the language of the turkey, being chiefly concerned with the art, or science, of raising and cooking him. Most men know nothing more about the turkey than that his price is high, his flavor excellent and his digestibil- ity and nourishing qualities good. It is generally supposed that he is proud of the relation he bears to two of our very distinguished fete days, and that nothing gives him keener pleasure than rendering unto us the peculiar service we require of him. It would be interesting to obtain the turkey's views on our winter holiday customs. fis famous ‘“Gobble-gobble-gobble might be translated as words of dis- approval instead of words of sincere appreciation for the honor we do him in bidding him to our feasts. How- ever, Thanksgiving comes on apace, and all of us, who can efford it, will order turkey. \ The comparatively small amount of employment engaged in the manufac- ture of war materials addresses itself to the removal of vast numbers of men from the field of prosperous pro- ductive occupation. i The many social functions are like- 1y to leave the delegates with an im- pression that the main articles of diet in America are-chicken nhd and ice cream. i China is beginning to have doubts about a governmental system which plays local politics to the exclusion of broader human cnn!ld.lrl.uwu. ¢ Pessimistic views regarding the prospects for permanent peace are as a rule mildly limited to the fear that it is too good to be true. fi German journalists who doubt the success of efforts toward peace must admit that they found war a distinct failure. } Changes in soviet money standards may leave many people with a large amount of souvenir money on their ‘hands. SHOOTING STARS. BY PHILANDER JOHNSON. A Worthy Demonstration. Had a grand occasion down to Pohick on the Crick. The neighbors all attended, lookin’ mighty fine an® slick. “We didn't want tode behind the times, 8o we perduced _ The best we had to give the Dove of Peace a social boost. Hi Hankins ofled his boots and sprin- kled tonic on his hair, And Mrs. Hankins baked some punkin pies with special care. Of course, we know the influence that ‘we exert is small— But every little's better than not any- thing at all. The men folks had their whiskers trimmed with fashionable grace, And every woman actually put powder on her face. Si Simlin brought his fiddle =o's to give all hands a chance To show their peaceful sentiments by Joinin’ in the dance. It hes nearly always hapgened, when we had s social night, That some one undertook to break it up an’ start a fight. But this time no one struck & blow ‘or showed & temper quick, So we're singin’ “Peace Triumpbant" down to Pohick on the Criek. Jud Tunkins says & man who is too busy chasin’ the spotlight never stops to look around and see the long, black shadow he's castin’ behind him. The Venerable Emblem. “That silk hat you wear is away out of style.” 'Ot course,” sald Senator Sorghum. “A statesman should always have an old-style silk hat to show that since he first assumed. the dignity he has been for years accumulating wisdom and dignity.” A Difficult Situation. A printer’s task is rather tough. To & machine they chain him And make him read through miles of stuft That does not entertain him. “A man sometimes makes his bes’ soundin’ speech,” said Uncle Eben, “when he ain't sure of what he's talkin' about because he feels de ne- cessity of showin' all de emotion pos- sible.” @ - Polltlcs at Home Hylan and Higher. Until recently, former Gov. Al Smith was the upetanding and out- standing figure fn New York demo- cratic circles. His term at Albany had been successful, he was personaily very popular, and having been “raised” on politics it was assumed that he would be glad to get into the game again. His was the only name under consideration in connection with next year's nomination for gov- ernor. It was almost assumed that he ‘would be put up by acclamation, and with a shout that would count heavily in his favor in the campaign for elec- tion. But now come the friends of the hero of the latest New York contest and propound the question, What is the matter with Hylan? Why would he not do for a term at Albany? Is it not claimed, indeed, that the mayor of greater New York has more difficult duties to perform than the Governor of New York? And has not Mr. Hylan just received at the hands of the voters of the metropolis such a certifi- cate of approval as entitles him to consideration for higher honors in politics? Mr. Hylan and Mr. Smith are both comparatively young, both good cam- paigners, and both of,’and much trust- ed by, the plain people. Mr. Smith, by reason of his Albany experience, first as legislator and then as gov- ernor, is better known upstate than Mr. Hylan, but this second victory of the latter over a powerful combina- tion in town will introduce him favor- ably to localities where until now he has been something of a stranger. Mr. Smith, it may be mentioned, stumped the city in the recent cam- paign, and thus associated himself with the Hylan victory; He is always regular in party matters, and always at his party's segvice for whatever ho can do to help secure victory at the polls. ——————— Mr. Bryan. In the language of the curbstone, we must all hand it to Mr. Bryan. For versatility and industry he is well up in front. He is always on the job, whatever the job may be. Now it is the job of a lecturer; now that of a politician; now that of a social philoso- pher; now that of a newspaper re- porter. He was In the press gallery at a national political convention when op- portunity knocked at his door. He heard the knock, heeded it, and sprang into fame. Today, twenty-five years later, we find him in the press gallery again, taking notes, and absorbed in the proceedings of the armament con- ference. As & consistent and persistent advocate of peace, going all lengths in that behalf, he is probably & happy man in the hearing of so much earnest talk on that subject. If Mr. Bryan had not emerged from the democratic convention in 1896 the leader of his party he might have made his way to leadership in daily journalism. He might have planted his tripod, so to say, in Chicago or New York, and drawn more heavily on his pen than his tongue for his place in the world. But he did emerge from that conven- tion the leader of his party, and in one way or another, on one issue or an- other, he has been leading it ever since. Presidential gossip always car- ries his name. In 1904, although dis- claiming any desire for the nomina- tion, he was yet in the ininds of many men for his party's prize that year. In 1912, although a delegate to the convention favorable to the nomina- tion of Champ Clark, he seemed to be the likeliest man to win in case of a deadlock, and last year at San Fran- cisco bets were laid on his carrying home the bacon. And even now one hears the sug- gestion that Mr. Bryan is not out of it, but may appear in 1924, head up and in Kelter, and the very best nag in the democratic stables for carrying the money in what promises to be the race of races. Two Senatorial Contests. New York and New Jersey are smong the states electing senators next year. Mr. Calder and Mr. Fre- linghuysen, each in his first term, as- vire to succeed themselves. They are wen of influence in office, and popu- lar at home. National questions were not in evi- dence in either of those states in the recent campaign. Both parties stressed local questions, and asked for de- cisions on them. Nevertheless, the fact that the democrats made showings st the polls which are heartening their na- tional leaders considerably has raised an inquiry as to the extent, if any, the returns may be accepted as bearing on the senatorial situations. ‘The general situation is more com- plicated in New York than in New Jersey. The Tammany revival in town nfeans an attempted Tammany revival in the state. Now that Mr. Murphy feels his influence in the mayor's of- fice secure for four years more he will want to re-establish it in the gov- ernor's office at Albany. During Gov. Smith’s term it was strong there. And if Tammany tries to name the next governor it may try to name the next senator—to put & man of its choice in the chair now occupled by Mr. Calder. To whom would it turn? The democrats of the state are not at present as flush in the way of leaders of senatorial size as formerly. In New Jersey the Wilson men, it is suggested, may put forward Mr. Tumulty sgainst Mr. Frelinghuysen. It they do it wilil be a direct test of their claim that the Wilsonian democ- racy is coming back. ———e————— It may be too much to hope that anything involving such important in- terests es thosa that arise in an arms parley will entirely escipe the time- consuming effects of expert testimony and the hypothetical question. P ‘The large amount of litigation ex- pected in connection with the restora- tion of peace with Germany is & Ye- minder that peace does not necee: sarily imply quiet. e S et ‘The diplomatist has to be quick in mental arithmetic as well as ready in debate. ) it C, Fair-Mindedness Necessary To Arms NOVEMBER 20, 1921—PART 9 Parley Success BY 'I‘IIDIA! R. MARSHALL, er Viee Presideat of the United States. F anything is to come out of President Harding's confer- ence looking to the limitation of the armaments of the | world, we must give to the men who speak in Washington for thelr respective riations the same degree of charitable judgment ‘which we would ask for ourselves. ‘We must not attempt to construe their language literally. We must have faith. We must believe that their wutterances are truthful, though tentative. We must un- derstand that only by baring all facts to the gaze of all will a comprehensive view of the world situation be obtained, that only by glving here and ylelding there ‘will something be accomplished. It is apparent that whether they come from Great Britain or France or Japan or Italy, first-blush state- ments are intended to convey the national outlook, to reveal na- tlonal desires, needs, fears, and, unferutnately, national ambitions. It is not at all difficult to construe the thought to suit either our own desires or our own prejudices. * k% % John Stuart Mill affirms that most of the disputes and discus- sions of life originate in misinter- pretations of thought rather than in the misuse of language. A speak- er employs certain language to convey his thought. An entirely different thought s accepted by the hearers. The speaker's pur- pose is thereby misunderstood and his motives misconstrued. Even the most carefully prepared papers are apt to be read in the light of the reader's preconcelved netion. Honest purpose and truthful utter- ance are thereby distorted Into ulterior purpose and untruth. Sus- plefon and injustice arise because of a proneness, rather general in America, to hear what we desire to hear, to interpret spoken and written word to suit our own ideas. I am reminded of an incident ‘when the Porto Rican code was up in the Senate of the United States. This was before the eighteenth amendment was enacted and when the subject of intoxicating liquors entered into all regulatory meas- ures. After much discussion of the code and an examination of its terms, those who favored prohibi- tion believed that it prohibited the sale of liquor and those who fa- vored liquor belleved that it per- mitted its sale, s0 the code went speedily and unanimously to pas- sage. * * k% ‘We can draw, if we choose to, from the statements of the repre- sentatives of Great Britain that their interests are inimical to ours and that they propose to stand by their own interests. We can, if we will, likely kiss aside the fears or the facts touching the danger of German aggression upon France. It is quite easy to believe, it we wish to do so, that Japan has ulterfor motives and desires only national aggrandizement. But if we begin to construe prelimi- nary statements as ultimata we will soon have such a clamor and confusion of ideas that from the babel of that conference the na- tions will quickly go back to their old ideas of self-preservation and self-aggrandisement regardless of the common good of our common humanity. It was misconstruction of the covenant of the league of nations, in my judgment, that re- sulted in its rejection by the United States Senate and prevented this country from joining {ts world movement. Who doubts that if all those who yleld their intellectual assent to the doctrine of the fatherhood of God and the brotherhood of man had translated thelr faith into con- duct that America today would be & member of the league, that this country would not have seemingly rejected the league idea at the polls and would not have con- sented to a separate peace with Germany? The league of nations is, of course, not dead in Europe. It is dolng much good for the world and it is furnishing inspira- tion for this country in its efforts to unite all nations agal War. Hope is abundant that unless some other way to promote the peace of the world is found and adopted the league plan will be resurrected in America, where just now it isdead. * % ok % The responsibility of a Christian is not te be shirked with the mere statement that church and state are separate in Amgrica. Church men and women are American cit- izens and they must bring Christian principles to the solution of Ameri- man problems. Christian leader- ship and Ideal government, beauti- ful as both are, got nowhere with- out the wholehearted support of the people. Grave as I believe was the result of our faflure to crys- tallise our pretended sentiments into action behind Woodrow Wil- son, 1 emphatically feel that it is now the duty of every one 'to stand by President Harding. If, alas, the arament conference shouid fail, then America should turn to the league. 1 often recall the serio-humo ous view of a high official that t world war perhaps might have been averted if telegraphy and stenography had not been invent- ed. He was willing to argue that if the chancellories of the world had been compelled to write out by hand all they desired to say and then to send their communications by post there would have been more than enough time for nations to have cooled off. We cannot, how- ever, change the methods of mod- ern life. Nelther writer nor pub- lic speaker can guarantee the lan- guage he uses will convey to the eye or ear of others the exact thought he has In mind. It is, therefore, important that charity and discretion shall govern us with reference to the proceedings of the conference. * % x % ‘Why should we loftily declare that each other mnation is looking after itself when we, ourselves, refuse to forget ourselves and in- sist that the sum of our duty is to look after America? There {8 no hope for limitation of armament, no hope of our helping to form an association of nations, no hope of our joining thd existing league of nations, until we frantkly admit that hitherto our policy has been a personal policy. We must in justice concede that every other nation also has a personal policy and a right to advocate it. If we are unwilling to criticise ourselves for our boasted isolation and our ! spirit of self-determjnation, jus- | tice demands that we do not criti- cise any other nation for main- taining a like attRude. Therefore, let us be careful of | criticism, and let us hope and pr. nd all national hopes and fea. and ambitions have been fully. ex- pressed at the conference, a sober sense of the imperative necessity of doing something will enable us to yleld many of the things that ‘we think are good for America to the end that the conference may do .l\amothlnt that is good for the wor! (Copyright, 1921, by Thom: R. Marshall.) Warn of Currency Sales Sharks Beware of the Ponsis with get- rich-quick propositions, who adver- tise for sale various foreign bonds which are payable in currencies that are at present greatly depreciated. That is the warning given to inves- tors throughout the United States by the Department of Commerce. Un- der the direction of John K. Towles, chief of the finance and investment division of the bureau of forelgn and domestic commerce, a study has been made of such national, muniaipal and industrial issues with the result that it has been found necessary to cau- tion the American public. The present exchange value of the currency in whioh some of these bonds are payable represents a very amall fraction of its normal exchange value. This is, for example, the case with the currency of Germany, Aus- tria, Poland, Csechoslovakia, Ru- mania, Jugoslavia and Hungary. Bonds thus expressed in depreciated cur- rency are, in some of the advertis- ing literature, listed side by side with the bonds expressed in currency which is much less depreciated, the federal investigator’ find. l‘t Concerns offering such securitles for sale hold forth to prospective in- vestors the possibility, it not probability, of enormous profits on the ground that the currency in which the securities are expressed may rise greatly in value and approach, if not equal, the normal exchange value. It is, of course, impossible to foresee what will take place with respect to the éurrency of the countries in ques- tion, but it is only proper that Ameri- can investors, the federal officials be- lieve, should carefully study the facts as regagd the changes in the rate of exchange, the quantity of paper money in clroulation and the recent | J changes in that quantity, before they judge the probable future value of any seourity given in that currency. That these ucurnles are generally offered at unduly high prices is an- other fact that American investors should not overlook, in view of the actual uclu.n{a rate of the given currency. s evident that for a bond promising to pay 1,000 units in a given kind of money at some fu- ture time, and bearing a normal raf of interest, the inveator ought not to pay much moré, and possibly should pay leas, than the current equivalent in dollars of 1,000 units of that money. If $10 in the actual ex- change market will buy 1ooo such units it is not necessary for fhe in- vestor to pay $20 for the bond. Im some casos which have come to the attention of the bureau of foreign and domestic eomm'ru. the disparity between the sales price of the ad: vertised securities, in termas of .dol- lars, and the price at which they could be purchased with American money in the forel h{n country {tgelf is much greater t| that indicated in the hypothetical illustration, * * % To put the matter in another way, the purchase of bonds expressed in depreciated currency is virtually a speculation, not in bonds, but in cur- uney. If the investor'is counting om his profit from .the advance in tha value of the currency in which the bonds he can the same rency itself, to obtaln rofit lgy huyinx the cur- "rnbln. it l. lvldut that | with instead ol hondL If the 250,000 investor pays $20 for a bond ef 1,000 units, when he could buy 2,000 of those units in the form of currency for $20, it is clear that he is making an unwise choice. Any step which may hereafter be taken by countries with depreciated currency to reduce the volume of their paper money, or to convert it to the new basis or to enhance its value in any other way. will probably, if not certainly, affect the value of the currency itself equally with the value of bonds ex- pressed in that currency. The essence of the matter is that the American investor buying =any security expressed in depreciated cur- rency should know exactly what the exchange rate of that currency is in dollars at the time he makes his pur- chase. Otherwise, he may & prica which involves an unreasonable mar- ity for sale, t It may be addad thlt it 1s decidedly agalinst the interests of any foreign country, municipality or corporation that its securities should be offered for sale in the United States at prices widely out of line with the current rate of exchange. The disappoint- ment which the purchaser is likely to suffer ‘later on will tend to injure the credit of the issuing country or muyniecipality. It is probable that in most cases where an American con- cern offers securities of the charac- ter discussed at unreasonably high prices it is not being done on the lnmltlva of the country, munlc(pnllly or_concern issuing the security. The Department of Commerce, it is pointed out, has always refrained from expressing opinions with regard to the future of the currency of any country, and in the nature of things it cannot advise the American public with regard to any particular invest- ment. The department publhnel from time to time, however, informa- tion regarding the volume of cur- rency in the principal countries and also the rate of exchange and its fluctuations. The public can also find similar information in current pub- ons of the W al Reserve Board, as well as in rellable financial periodicals and other sources of de- aondnh)a and authoritative informa- on. ————e————— Ex-Kaiser Cuts Prices. Doorn.—The ex-kaiser, continuing his economies, has become a wood merchant, reports the London Mall His wood-sawing is no longer a pleasurable pastime, but a remuner- ative occupation. The wood-sawing by hand has been abolished and a saw with an electric motor hag been installed, which the ex-mon: sus perintends. Following the example of the industrious fatherland, he fs selling_wood at prices whigh .ry local Dutch comueuuon. Owlu to the high price Hoh- enzollern's wood li éu l'ran ann.nd. and t:h.!.l ex:’:yl:l Nomr-t&nmk plies constantly ckwa and* for distributing orders. - oL KNew X-Ray Wonder. An X-ray apparatus whose rays can plerce two inches of steel, make an impression on a photographic plate through the floors of a bulldln‘ and exterminate all the mice “in the cel- lars, has recently been perfected, says the London Chronicle. Designed for the r.r tment or dee -:: unul. Il‘ th "&ml# a mr-pr 'II- fit, can nxu the \mfl supply to ,000 voits. gin to the agency offering the secur- | men! ____._______________.—.—_.___—___' o Heard and Seen Flfty Years A,c Representative Upshaw of Georgia believes that the word “congressman’ should take the place of “representa- tive” in designating the members of the House. Senators are representative as well as members of the House, Mr. Upshaw contends, and for this reason the term “representative” should not be ap- plied solely to members of the House, but should be used In a general sense for members of both branches. At present it is the general c &t least in this city, to make “con- gressman” the generic term appli- cable to both representatives and senators, and confine the title “rep- resentative” strictly to those in the lower house. In the states when one says “Con- gressman So-and-So” he usually means “Representative So-and-So." fi[r Upshaw would have the title ‘congrei reserved solel members of the House. Tt 3 * L If there is anything the matter with the police department, as al- leged in some quarters, the follow- ing incident, vouched for by a high government official, whose wife was 2 witness, may help to explain things. A crippled soldier on crutches stop- ped to rest himself against the low wall along the sidewalk in front of the Hancock statue at 7th street and Pennsylvania avenue. He hadn't been there very long when & policer man ordered him to move on. “Youre drunk,” said the pollce- man. “Get a move on you.’ “Can’t you see I'm a wounded sol- dlor?” asked the man in uniform. waiting here until the bus from Waieor Heea Hospital comes along to_pick me up.” “Makes no difference, move along.” the “cop” replied. “I've ‘been moving until I'm in a sweat,” replied the soldler. At this point a gentleman accom- panied by a lady came to the rescue. “Can't you tell a wounded man when you see one?’ asked the man. “This man was wounded in the servic: of his country. You must be drun The policeman still protesting that the soldier mus{ move on, two young men detached themselves from the crowd that had now gathered and assisted the soldier on crutches around the corner. A few minutes later here came the bus from Walter Reed Hospital, just as the soldier had said, picking him and carrying him away from a l.ce of unpleas-nt memories. s The dangers of taking instructions too literally were exemplified in the ac- tions of a capable news photographer in this city last week. A reporter telephoned to his city ed- itor that he had just observed a marine “seven feet tall” in the corridor of the city post office, and thought it might make a good picture. The reporter, naturally enthusiastic, had used the term “seven feet tall” in a figurative sense. The city editor called to the man who handles the photographs and cuts, “There’s a marine seven feet tall over at the post omoe. maybe you can get a picture.” The man who handles the cuts called to the photographer, “There’s a marine seven feet tall over at the city post office—go over and get a picture.” When the photographer entered the corridor he looked for the big marine. Sure enough, there he was. tall fellow, six feet in height, with his gun and bayonet bringing the total height of the “outfit” to eight or nine feet. “Shucks, he's not seven feet high,” declared our photographer, and walked away without even unslinging his camera. CHARLES E.*TRACEWELL. Digest of the in The Star After-dinner speaking has from time to time been assailed as a bore and a nulsance, but despite these perfodical attacks the After-Dinner custom of post-pran- Speaking. dial deliverances hus persisted and will probably continue until people ceass to gather at table and utilize such ,|occastons for the exchange of wit and wisdom. Fifty years ago the subject was under discussion. In The Star of November 18, 1871, is the following editorial: “Scribner's Monthly has made = good many hits, but never a greater one than the mauling it gives that abominable nuisance, the custom of speechmaking at the dinner .tauble. Who that has ‘been there’ fails to recognize Dr. Holland's description of the horrors of that task, the anticipation of which is torture, and the performance of which is usually a failure? There is something, he ar- gues, very absurd in the submission of 80 many men to this custom. There is never a public dinner, or a dinner which may possibly merge into for- mality of toast and talk, without it overhanging dread. There is probab not one man present, from him w expects to be called upon for a speec to him who is afraid that the demand will at last reach him, who would not pay a handsome price to be out of the room and its dangers. “This is all very true and just, as every one must concede, but Scrib- ner's, in its noble rage against the detestable custom, seems to infuse something of the gall and bitterness it describes as visited upon the victim of the dinner table into its assertion ‘that us a rule the successful dinner table orator {s a shallow man, one whose thoughts are on the surface. whose vocabulary is small and at quick command, and whose lack of any earnest purpose in life leaves him 1 to talk upon trifles’ Un- fortunately, there are 0o many notabie exceptions to this rule that the shal- low fellows have too much confidence to feel properiy abashed by this dic- tum. Among the felicitous epeakers of the dinner table of the past and present, one calls to mind the nam of Henry Clay. Sargent S. Prentis Rufue Choate, James L. Orr, Reverdy Johnson, Caleb Cushing. Perley Poore, Schuyler Colfax, James G. Blaine James Brooks—and this is but the beginning of the list. Charles Sumner at the Forney dinner, by his exceed- ingly happy response to various kindly references to his cours. ‘poked’ at him from different par! of the table, rather astonished 'h’* who had got the notion that he could say nothing offhand. “Charles Dickens was inimitable the dinner table as presiding offic or as speechmaker, while Thackeray. his great compeer in letters, was a4 dumb as an oyster, and in one of his essays feelingly depicts the miserics of the man who when called upon tu speak hopelessly forgets all the neat things he had conceived while in the cab. Dickens, however, had overflow- ing animal spirits, which Thackeray lacked. “Among our own writers !he late . M. Noah, a rather solemn-looking of witthest th ual, happlest table speakers, while N P. Willis, brilllant society man, whose felicitous word-painting indicated great was _one command of language, had a dread of being called to his legs like that of Thackeray, and in a Home Journal editorial he argued humor- ously against the injustice of requir- ing a writer to spout through both the nozzle and the handle of the pump. “That everybody appreciates the absurdity and tediousness of the speechmaking business is shown by the fact that the speaker who has the courage and originality to denounce its humbuggery is sure to be vocifer- ously applauded; as when Mark Twain, at the press dinner here, made his famous response to the toast to “Woman,' and so_deliciously burlesqued that stereotyped sentiment and its faded old companions at the dinner table.” Foreign Press Not a Rival of Pari Paris.—Writing in L'Oeuvre, Charles Saglio says there is no thought of the ‘Washington conference setting itself up as a rival of the Paris conference. “There is,” he says, “a general tendency to consider the Washington conference as the rival of the Paris conference, as & manifestation of new world policy in opposition to that of the old world. “This is quite a wrong opinion. American statesmen have no wish to obliterate or even correct the \ork of European statesmen; they to complete it. The Versailles tre. has settled the results of the war a well as possible; but it has not in augurated real peace because it hai not brought about general disarma. menl or at least a Hmitation of arma- "ll must be remembered that the idea of limitation of armament ‘WAaS espe! ly inspired by the anxiety to protect the secarity of the United States. No doubt the humanitarian benefits of such a measure were not overlooked, but the Americans ocon- sider first the advantages which America would derive from it. The proof is that the United States only being exposed to naval dangers, naval disarmament has, been echiefly and_almost exclusively advocated. “There exists today in the hands of the Pacific peoples twenty of the most terrible war machines which have ever been built; and the na- tions must be prevented from putting these Infernal machines into use in order to gain a victory which would always be a defeat for civilization. But how is the conflict to be avoided? “Some day by persuading people that_ it is their duty to humanity to disarm progressively; but others think this is too idealistic and say that rival peoples will never listen to reason until their passions are appeased, that they will only obey the interests of humanity when their national interests are satisfied. “These are the two different ways of looking at the subject. Will the Washington conference be before anything else a disarmament confer- ence or a Pacific conference? This question is being asked not only in the Unll!d States, but in all coun- tri "H Briand, as apostle of peace, will play a great at Washington.” Smothered History in Germany. Borlin—There are times when the Aweller in the German republic rubs his eyes and pinches himself to make quite sure that all that has happened since November 11, 1918, is not of his own lmnsl:ln‘, writes a correspondent of the London Chronicle. ol ectly good ‘offi- Doy Book: sanctioned by the upnb ican minister of education for use in_high sc The title-page informs o 'a mew work printed this n e 36 the high school student Wlfi l!nl.!ll !hl.t ‘since June 15, 1888, William II has been at the head of the German empire. Then on page 38 there | u a reference to the ‘King- dom of B: and a few pages on Wurtembnr‘ s similarly described. “Thers is no reference to the fall of the momarchy and to the setting up of the republic. Neither Doorn nor Amerongen are as much as hinted at. There is no word about Willlam's flight into Holland. “By the way, at the end of the ‘volume there is a short addenda, in -which the treaty of Veru\llu is just mentioned.” Pilgrimages of Sorrow. As America pays homage to the ‘memory of her unknown hero, visions of the myrlu- ol mm in France l‘ll'gll'lllll‘ rise to vl.' Iliffl :eak. 1y News :lvr the xou»wm. mhh: 7 picture of a typical scene in a French military cemetery these days: “Pathetic stories are told of the visits by aged parents to the War- graves of their sons. Pluck is the keynote of these pilgrimages—deter- mination not to falter at the spot where lie those who did not falter when their hour came. “One mother, a London woman, ob- viously nmone too well off, said she was going to wear her best clothes al her son's graveside when she found it —and she did. “An old couple explained that thev had always said they would never g0 to ‘furrin parts’ but now they had decided to go to the continent and search for their lad's grave. ‘IU's tug at my heart’ said the mother ‘but the place is a bit of England tu me, a bit of myself.’ “In one instance a mother, an oll Scotch woman, had found the grave of her son, and, fearing that she would break down, an official wen: with her. But she came away smil- ing, and I could not help asking whi. said the officlal. “*7 would not do anything to dis- grace a man so brave as my George. was the pathetic answer.” Art of All Nations. Plans for holding an international art exhibition in Paris in 1923 & well under way, and, according to the Paris correspondent of the London Observer, the difficulties which stand in the way of the project are being overcome. The government is sym- pathetic, and a large number of per- sons distinguished in the arts lend their enthusiastic support the project. “It may be recalled that such an exhibition was planned for 1916, in Munich, but, of course, the war ne- cessitated the abandonment of the preparations that had been begun in 1914. It was at that time that M. Armand Dayot, originator of the present plan, was intrusted with the task of arranging the French sec- tion at Munich, and he does not mee why France should not take the in- itiative in reviving the praposal. The project would, it is pointed out, en- able France to study the works of foreign artists who are ignored in France, and a mutual interchange of world-wide artistic thought. to ing country as possible, and not only new works, but the best painting sculpture and specimens of applied arts of the past twenty or thirty years should be shown in a retro- < spective section,” says the corre- jpondent. The Speed of Thought. “Quick as thought!" is an expression often used. But how quick Is thought? Modern psychology has fur- nished some valuable statistics on this point, declares a writer in the London News, citing several examples of how quickly the mind works in conveying certain thoughts. He says: “It takes about two-fifths of a sec- ond to call to mind the country in which a well known town is situsted, that is, Paris, in France, or the lan- guage in_which a famillar author ‘wrote, as Dante, in Italian. “To add numbers containing one figure it takes, on average, about one-third, of a second; while half & :nwnfl is occupled multiplylng hem. “Next note the time demanded to perceive and to choose l mnnon uup- e, for instance, ?e not nowing which of two colo! refl H‘l\ is to be presented to him, has to lift his right hand for red and his left for blue; it takes only about one- thirteenth of a second to begin the correct motion. “To call up the name belonging to a printed word needs about one-ninth of a second; to a letter, one-sixth, of | while to & picture or color it takes one-q er and nne-thlm of & sec- ond, nipoctl in