Evening Star Newspaper, April 1, 1925, Page 3

AlfiHac of Value f(;r Sir Charles Sir Charles Higham is here from England to-encourage us to drink more tea. r arles, so 'tis said, gets $100 a word for all he says on the subject. Allow tea to steep for five minutes, he tells us. American offers Sir Charles this as a 47-word, sure-fire addi- tion to his propaganda: Pour the hot tea into tall glasses filled with American cracked ice, top the ice in cach glass with a slice of lemon, and sweeten the tea to taste. Serve at four in the afternoon when human_ efficiency is at its worst and OId Sol is beaming his best. Sir Charles, the merry tin- kle of American in a glass of iced tea is the sweetest Spring and Summer music ever heard. American ICE Company T O T Suites and Single Office Rooms i For Rent— Jji->odivms I | ! BUILDING ‘ Cor. 17th & H Sts. NW. A new office building offering_spacious rooms unusual light and air. Excelleat service, six elevators, | Himes Properties | Rental Office, Room 232, Transportation Blds. Randall H. Hagner = E ETRANSPORTATIONE - ;[}HARGE INTERESTS * BEATPENSIONACT {A. F. of L. Officers Declare Y Retirement Pay Bill Fought by Lobby. | that the liberal of service Charges zation the etvil retirement law, which would benefited 450,000 veteran employes of the Government, age In the eighth Con- gress by a lobby of big business interests are aired or- ganized labor in its official organ, the American Federationist, out tod The charges are that interes | teared it liberalized retirement pro- visions were granted to the Federal employes industry as a whole would have to pay larger retirement allow- |ances to their own pensioners. " Committee Makes Report. | The report of the legislative com- | mittee of the American Federation of | Labor, printed in the American Fed- | | | | have was closing da | | 1 prevented, from pas: 's of the Six powerful erationist, says “The 450,000 employes of the Gov- ernment who would have been benefit- } ed by liberalizing the retirement law { are wondering what fnvisible influ- ence omplished its defeat. The Senate passed It unanimously, doubtdely it would have been passed with few, if any, votes agalnst it in the House. Still the pressure from a hidden source placed obst that could not “After the bill had been referred to the House it wa by the committe on the committee for its consideration An unavailing made to the steering ermit a rule to be made. en sent nember of the steering committee and also to Nicholas Longworth, leader of the majority, urging that permission ! be given for the House the blll, in order that faithful ployes could in their declining vears have at least reasonable comfort in- stead of distressing near-poverty until death, which, under the circur : r off for the re- endar. refused placed rule was committee to President em- tired employe. White House Aid Asked. & Co. Agents 1321 Conn. Ave. Phone Main 9700 S R, COAL Reduced Special prices are now in effe Reductions ap- proximately One Dollar per ton. Highest quality coals at lowest prices May we quote you? John P. Agnew & Co. 728 14th St. SPECIAL NOTICES. NOT SPONSIBLE FOR ANY any _one other than ¢ CARL PARKER, 1226 F ¥ WILL ANTE LL Ot PART 50 OR NEW YORK OR D, ( 1 TOINTS, 3 ING.. MATN 1460, LOCAL MGV QUIMBY 1N Dipont Oire) N of base- announces the M‘rnln{ dinner; for breakfast 50 for £.00; wrapped lunches oked food for sale. Special or- + for puffed waffles and pattie shells. Your \tronage ix respectfully = solicited. North 340, . 1 WILL NOT B aentx ofher than_th VILLIAM P, MeCREAY, TRY_MY MAHONEY, ATLMENT, YOU HAVE AN eltef. Dr. T g 1603 1t N om 3 s are right. 1 actory Representative, Sufte ,'817 1ith st. n.w. Phone Fr. 10329, P TRIPS Wiliington Del, York City. AND STORAGE Co. 5 MAKE W) To Baltimore, Md. To consult this big printing plant—be. fore you place your order for printing. The National Capxtal Press b et “Cleanliness Is Next to Godliness” Why wear Diamond Rings bedimmed with grit and dirt? Use Jem' Kleno; 1 bottle, I JTARIS & €0 Corne ROOFING——by Koons wor really d here tace your 119 3rd st. s ROW IS THE TIME —to have our expert mechanlcs repalr our furnace, roof, downspout and gut- teriog. _Written guarantee Tioning and _Adams 1648. (LIVOLT = s i PREPARE FOR RAINY WEATHER April s usually & rainy month—so have us_put_your roof in leak-proof condition TRONCLAD (500, vione v vi CARPET RUG WASHI: " & sTON x 9160 PfiINTING—— th ets your requirements- sery prompt HIGH GRADE, BUT NOT HIGH PRICED PRINTER, BYRON S. ADAMS, il 1f You Have a Good Curled Hair Mattress YOU PAID FOR LONG HAIR. The reason it cost more than short hair is because it is far more resilient. A CHANCE AND LET SOME US_DO _IT_PROPERLY. BEDELL’S FACTORY - aln dsike WY kS AN - i tion of Labor legislative committ ! February - | Court “Members of the American Federa- > on 7 visited the White House to see what could be done, but re- ‘eived mo encouragement. “President Green sought a confer- nee with President Coolidge on Feb- sary 28. The answer given was that President Coolidge was too busy that iday, but In_the event the bill was {passed by Congr: he would meet la committee to discuss its provisions. “On March 1 interviews with cab- |inet members were published in the |daily papers in which it was said {that the &’resident and cabinet fa- {vored the retirement bill and were |taking measures to have it passed. |Secretary Work of the Interior De- | partment had been appointed by the |cabinet, it was said, to take up the matter with Director of the Budget {Lord. It was in January when this was done. Despite repeated requests Director Lord failed to furnish data regarding-the effects of the provisions 1 the bill a discussion on what the Hous d do on the morning of March presentative Longworth everal privileged resolutions would be taken up and that a number of gentlemen had expressed a desire to deliver addres: upon various matters. Representative Schafer of { Wisconsin aske ““Then we are to understand this ession will not be in a position to take up the retirement legislation for Federal employes?' Mr. Longworth answered that ‘the gentleman may draw that conclusion.” In answer to another question Mr. Longworth said that he had made ‘a very strong guess that it would not be called up.’” ~SUE FOR $55,000. | Father and Son Ask Damages From B. & O. Charles W. Peckham and his son, Charles H. Peckham, have filed suit in th, upreme to recove amages from Baltimore and Ohio Rail- road Co. for injuries sustained by the son when a train struck an automo- blle in_ which he was riding near Rockville November 28. The son lost a foot, for which he asks $50,000 dam- ages, and the father wants $5,000 additional for the expense to which he has been placed and the loss of the boy's services. Attormey L. H. Vandoren appears for the plaintiffs. | | | for Anthracite is now stantial one. full coal bin. | mer weather. PLACE your order with agreeable, of course. and un- | a communication to each | d¢Dits to act upon | | tary gold is within the United States, THE EVENING What’s Ahead I met him in the Continental and Commercial Bank of Chicago, of | which he is chairman of the board of | directors. He scemed. to have plenty | of time, and his large glass-topped desk had nothing on it but a large blotter, unsoiled. “Mr. Reynolds,” T asked, does that overworked word as applied to money and credit, 1y mean?” His smile was a pleasant one as he “just what ‘Inflation,’ real- Well, perhaps I can tell you. The only definition of inflation that T have found satisfactory Is this: Inflation occurs when there Is an Increase in money, in circulation and demand de- posits, at a rdte more rapid than the Increase in the volume of trade. That sounds a Iittle invelved, but it isn't. The essential fact Is that Inflation in- volves a relatlonship between the volume of money and credit on the one hand and the volume of trade on the other.” “In_other words, inflation Is situation In which the volume money and demand deposits incre faster than the volume of trade inquired. Way to Avold Upsets. “Eactly,” he continued. “To some people this definition of inflation may seem t0o narrow, but in my opinion a lot of unenecessary disturbance of business confidence would be avoid if this definition were regularly used. “Under this definition, Is there danger of inflation at this time in the United States? “It is much easler to define infla- tion than to measure it,” he clared. “But a study of money in| circulation and demand deposits, | measured against the volume of trade | —indicated by carloadings and bank does not suggest that we now have any Inflation. Neither doés ¢ comparison of these figures with the general price level. Again. multiple orders for goods, accompanied by cancellations, are usually a sign of in- flatton. I do not now find such a condition “Half of the world's stock of mone- -1 largely In the reserve banks; this Is considered a disturbing factor by some. The continued Inflow of gold has been one of the main factors | cautious. F | rect said | | In other respects, making for easy money. This gold | could alto be made tho basis for n- | flation. But our 1919 experience with | inflation has made business men | nkers are not likely to in for inflation consciously. They | till remember the grief of tho posu; war deflation & Inflation Not Feared. | Lanker. It | definition of keeps testing continued the ne keeps the correct inflation in mind and monetary, trade, and price facts that standard, we are likely to discover and check any inflation at the beginning. 1 am not worried about inflation in spite of the huge stock of gold in our possession.” “Well, what should Amerlca do with her gold stoc ou assume America can do about anything she pleases. This is not cor- Gold movements result from such forces as balance of trade, condition of the investment market, the senti- ment of business men, price levels, monetary programs, foreign loans, nd even political conditions. So long as the Federal Reserve system is in operation and confidence is upim- palred gold may be gathered in the| banks for reserve purposes, or paid out as so much currepey. Fhat's all. gold is mined, sold | for use in the arts, or for monetary purposes, or exported and imported in response to demand or according to the influences I have mentioned. “Of course the Government can buy gold, coin it, warehouse it, Issue gold certificates against it. pay bills with it, lend it, forbid its import or export, or regulate them, and that's about all. Conditions of Foreign Loans. “The Federal Reserve Banks can take gold on deposit, buy and sell bullion pay it out or hold it in reserve. Other banks can do the same. But, under- | stand, if America’s gold is to be used to aid foreign nations to return to| monetary soundness, it must be| | bought by such nations with prom les to pay—a transaction of borrow- ing or lending—or with goods and services; both transactions of trade. “This is an jmportant point We can export gold only if it Is so bought. 1 take it that we are going to lend thoney abroad only if condi- tions suit us and the security is sat- isfactory. It seems that we are am- bitious to sell in forelgn markets and are jealous of our own markets. In a word, the question of the disposi- tion of our huge gold surplus is not what we desire to do or what we Reduced Prices OUR APRIL SCHEDULE of reduced prices ing orders for next season’s supply. LOWEST prices of the year prevail during this month and the financial saving to you is a sub- should do, but what international commercial processes dictate. An in effect, and we are book- 3—American Banking as Seen by George M. Reynolds. By John F. Sinclair. Author of “Can Europe Hold Together?” and “Can Your Taxes Be Cut?” | guished from investment banking. A STAR, WASHINGTON, for Business? GEORGE M. REYNOLDS, other discussion of our gold disposi- tion is academi When asked of America's postwar credit problems, he replied “The situation is decidely better, especlally in view of the recent in provement in the agricultural districts, but the slate has not yet been wiped cl “Are manufa up with goods?" urers well stocked Surplus Not Apparent. “This is hard to answer accurately for figures are not adequate for all industries. It seems to b nerally accepted, however, that in v t lines of business stocks of goods on hand ere not so larg to cause a p ent curtailment by manufacturers inventories and production schedules are closely adjusted to the volume of sales, there will be subsequent r ction “Do you think America is entering a period of prosperity accompanied by a rise in pri “The problem of business expan- sion is not so much whether there is to be expansion, but how much and how fast As a rising level of modity prices regularly accom business expansion, the good for prices. Weo do not know how much or how fast, but we seem to be on our way Al lr\l-m.~~ sta tisties point in that direction “What are the present b 19 bout na al banking whic American people should W was asked. “The Ametican people clearly in mind the principle serve bank applied by the Fe eral Reserve system and the differ- ence between commercial and invest- ment banking. Protection to Business. “The Federal Reserve system was organized to protect business and ap- plies only to commercial distin- holds the | " he should get of re- g @ Federal Reserve Bank can make loans only against the security of paper which arises out of commereial trans- actions, 1f it could operate in the investment field could make loans nd bonds would a o i banking system. It would b position of supplying capital, the cap- | ftal of commerce, for pra ally per- | nianent investment. It would lose its | liquidity and become usecless to com- | merce, If not a_positive menace to the soundness of commercial credit. | That's why it is expressly forbidden | for the banks to make loans against the security of stocks and bonds, ex- cept against Government securiti The Federal Reserve Banks can D. C., WEDNESDAY, APRIL 1925. Sargent Outlines s Code for College Men in America The aims and duties of a col- lege man were outlined by Attor- ney General Sargent in a letter to be read on the occasion of the annual senlor class banquet at Tufts College, of which he is an alumnus. “The one thought and ambition of every college man.” said the letter made public last night, | “should be to be a public official without vice, a private ecitizen without wrong, a nelghbor with- out reproach, a Christian without hypocrisy, a man without guile, submissive to law, obedient to authority, thoughtful, kind, and, above all, loyal to country and self. He must develop a reflective, evaluating attitude toward life and things, and the directing heads of the great Institutions of learning must be interpreters, the evaluators, the helpful eritics . whose judgments and standards und virtues have the ring of est objectivity and sincerit and do make loans against United States Government bonds and notes They are fiscal agents of the Govern ment and the financing of the war was | dgne through them as such. The war | could have been financed in other | ways, but it wasn't. This is an ment of real weakness in the systen “It places 4.0\»—1 ment bonds in th { Reserve notes Government bonds was Giings which''ihe Wetlors] Hesery system was cstablished to eliminate It was the primary cause of the cur- reney panics in the past and is re- garded by economists and banker: tifie, orts to tie the Federal Reserve systom to the investment side of banking are continual. Fortunately | they are diminishing In strength “The public should understand. The | ¥ I Reserve system is not miraclo worker. It is a delic of machinery, designed for pose, and fortunately, so ful enough to pull up the known hills. | But if it is loaded down with other | merchandise than comm it will stall and slip road.” (Copyright and Great Fritain b puper Aliiance. All Currency one in United States North A “NOTICE” To All Home Buyers We Have under const development that ar 1, & long cherished wish of the by publie to get a respectable home refined ne'ghborhood within of the center of the city, b there fs not the environment of a limited breathing space. but where they are privileged at nominal outlay to liave and enjor an atmosphere of real home cooveniences These and many other advantages await the purchasers of these Homes. Watch for the announcement. The price will be under $8.000 and the terms on a basis and with the thought of defeating the High Rent Problem. Wait for this epportunity. Chas. D. Sager Realtor and Builder 924 14th St. ng in a minute FLAT TIRE? MAIN 500 LEETH BROTHERS Prices, $8 When You Investigate You'll Buy the Copeland ICELESS REFRIGERATION J. C. HARDING CO. 720 12th St. N.W A Variation 610 5233 7th 1319 N. Y. Ave. Franklin 7694 SECURITY from cold next Winter depends on a | CLEAN ER coal with less moisture delivered to your bins is possible in the more favorable Sum- us NOW for your Winter’s requirements, or to the capacity of your bins, and be ready to receive the coal as soon as de- livery can be made, the exact date to be mutually Main Office 1151 16th Street I WILLIAM KING & SON | THE CITY'S OLDEST COAL MERCHANTS Established 1833 $10 for your old range Here’s your chance to turn in your tired old cook stove for a Gas Range that ha everything you want in a gas range—it’s quicker, better, easie r to cook on than any- thing you have ever seen before—it's the SMOOTHIOP GAS RANGE ‘With Vulcan Speed Burner —and its being demonstrated daily at our display rooms. Come in and see vessels boiling. Main 273 how .one burner keeps four It is worth real money to you. SureRelief R INDIGESTION 25 CENTS, » '6 BELLANS =' | Hot water ~ == Sure Relief ELL-ANS 25: und 75¢ Pnsk- es Ev-rvwhm' BILL—JACK—RALPH SKILLED OPTICIANS e eeny 610 Thirteenth Street N.W. Phone Franklin 174 af CHAUFFEUR, White; must have Al references and be ac- customed to driving for family. DUNIGAN, INC, 1319 New York Ave. ON CREDIT T.0. PROBEY co. Store No. 1—2104 Pa. Ave. Store No.2—12th & H Sts. N.E. e L | Columbia Park On 14th St. Car Line 700 A Little City in TItself With in Inspect Today or Tonight Ingraham St. N.W. Architecture St. N.W. Open Until 9 P.M. D. J. Dunigan, Inc. M. 1267 e muu)n cAfshim peed Bul CoonszStraster VTR ey Five sizes to fit every kitchen and every cooking need EDGAR MORRIS SALES COMPANY 1305 G Street Northwest Tel. Main 1032-1033 Priced Under $10,500 925 Main 9770 CHEVY CHASE, MARYLAND select community of detached homes with all city comforts and con- veniences — yet they are 10% Down and Small Monthly Payments “ZRA WARREN OWNERS & BUILDERS 15th St. Evenings Cleve. 2252 | It Is Possible Now To Live in a GOOD NEIGHBORHOOD in a MODERAT PRICED HOME since the ESTABLISHMENT B JURJEITH At 36th and R Sts. Before we undertock this extrao MODERATE-PRICED. HOME a certaln architectura u not f The Result In That Over 200 Are Already Price, $8,500 to $12,000 On OQur Safe and Sane Terms WHY PUT OFF? N- & LUCHS INC 713 and 715 14th St. N.W. Main 2345 Sold Choice Apartments —within walking distance of Governmen Now Available 3 Rooms, Kitchen and Bath 5 Rooms, Kitchen and Bath Elevator and Telephone Service 1316 New Hampshire Ave. One square south of Dupont Circle and car lin part- ments, theaters, shops, etc. For Full Particulars Apply Randall H. Hagner & Co. 1321 Conn. Ave. SALE Tomarrow and Friday Chairs, $20 .50 match. stered seats with web bottom, Worth $35 Dull (wax) mahogany finish. A special lot of Armchairs and Rockcrs.lfl Uphol- double stuffed with best spring covering, a choice of Velvet or Tapestry of good qualit These chairs are exceptionally well madc and are strong and durable. 0. J. DeMoll A $35 Value $ 2()-50 Emmons 3. Smith O. J. DeMOLL & CO. ChR R R R b + Twelfth and G Streets R “Safe Milk for Babies” The Pre-School Age Children of pre-school age should }lave meal! t}\at are Planfled wi'—h the utmost care to suit their special needs and capacities. The founda- tion of such meals should be Wise Brothers’ Grade “A” Guernsey Milk Extra nourishment and high standard production afford a safe- guard against malnutrition, and the best Health Insurance. 3204-3208 N Street N.-W. Phone West 183 & ( N