New Britain Herald Newspaper, January 5, 1916, Page 5

B ARBOU RUG & DRAPERY CO. 200 TRUMBULL ST., EARTFORD. NEX, BRITAIN DAILY HERALD, WEDNESDAY, _IANUARY 5, R OPPOSITE ALLYN HOUSE Mid- Wmte.r Sale of Domestic Rugs WILTON R ox12, WOR SALE UGS TH $37.50 TO $42.50. PRICE 8-3x10-6, WORTH $33.50 TO $40.00. SALE PRICE . AXMINISTER RUGS 9x12, WORTH $27.50. SALE PRICE 8-3x10-6, WORTH $25.00. SALE PRICE BODY BRUSSELS RUGS 9x12 WORTH $27.50. SALE 8-3x10-6, WORTH $25.00. SALE SEAMLESS BRUSSELS RUGS PRICE . 9x12, WORTH $17.50. SALE PRICE 8-3x10-6, WORTH $15.00. SALE PRIGE S $31.50 $29.50 $21.50 $19.50 $22.50 $21.25 $12.50 $10.75 Small Rugs to Match the Larger Ones at Reduced Prices. Special Prices on Portieres and Lace Curtains. 1. S. FIRST AMONG > NATIONS OF WORLD Economlcally, Indusmally and Financially, Says Dr. Pratt ‘Washington, Jan. 5.—How the United States through the accident of a world war has moved from its place as a commercially provincial and sec- ondary power to the rank of first im- | Jortance among the great nations of the world—economically, industrially and financially—is told in detail in the first annual report of Dr. Edward E. Pratt, chief of the Foreign and Do- mestic Commerce Bureau of the De- partment of Commerce. What the country has gained tem- porarily through the fortunes of the FEuropean conflict, says the report, it can hope to hold in the commercial struggle that will be resumed at the conclusion of peace only by the most far-sighted commercial preparedness. Two grave problems face development ? and maintenance of foreign trade. The first is declared to be that of finance and the second that of train- Ing men for the work London Clearing House. “The financing of trade,” it saj “and in fact by far the larger part of the financing ,the world’s trade, has hitherto been done through London. During the last hundred years London has been the world’s financial market. She has held her position not because of prestige merely, but because the na- tions of the world needed an interna- #tional clearing house and London supplied that. At the me time London became the clearing house chiefly because she supplied a large part of the capital for public improve- ments and large private enterprises. “The United States never has taken any large part in financing foreign .trade because of the comparatively our foreign small part of that business carried on here and because also of the unfa miliarity of many of our bankers with the methods of international finance. Nor has the United States taken large part in supplying capital to other countries. On account of more profitable investment at home we have Ychosen to invest here rather than abroad. This also has been true be cause of our position as a debtor ne tion, but probably also to a consid- erable degree because of a ‘mental debtor-nation attitude’ on the part of our financiers. Situation Rapidly Changing. “On account of the war this situa- tion is rapidly changing. The volume an: of | of foreign business done through New York is continuously increasing and New York banks are rapidly pro- vidipg facilities for Americans who wish to,export. thing practically unheard of prior to this year, i uming constantly en- larging importance in the financial | world anad is rapidly becoming popu- lar as a mean of meeting internation- al obligations.” Two provisions in the Federal Re- serve Act, the report says, have been | of material assistance to the foreign trade. One is the introduction of the use of acceptance and the other per- | mission granted to national banks to establish foreign branches. Following E; pean Nations. “In thus establishing branch banks con- tinues, “we are following the lead of England, Germany and other Euro- pean countries, which have used their banks as trade outposts. European {in foreign countri ' the report Dollar Exchange, a | { exporters have been able, be- cause they had their own banking in- | stitutions on the ground, to extend credit to their customers, when such credits were deserved. Our exporters have been hampered by lack of thes facilities. More important than this, documeRits containing often the most | | confidential facts of our merchants and | | manufacturers have been open to the crutiny of our competitors. “It has been a rare sight to see letters of credit or bills of exchange drawn in dollars. Usually the Amer- ican merchant has done his business |in pounds sterling, often paying the i cost of conversation. The inaugura- tion of branch banks obviates the ne- | cessity of this practice and makes it | pos ible to do business in dollars. With an increasing volume of dollar | exchange and with an increasing num- ber of branch banks and American banking institutions, dollar exchange { will become more stable. At present jdollar exchange is preferred in the money 1 kets of the world. Whether | it will be after the restoration of nor- | mal conditions in Europe remains to be seen. Really Big Prizes. “We can never hope to realize the { really big prizes in foreign trade until | we are prepared to loan capital to [ foreign enterpris The big prizes | in foreign trade are public and private developments of large proportions, the building of railroads, construction of publie service plants, improvement { of harbors and docks, and digging of | New countries generally are poor. | They look to older and richer coun- |tries to supply them with the capital make their improvements and to elop their resources. The country furnishes the capital usually sell the materials and does the work., The country that wants the business must finance the purchases. The same thing is true, but less Wirectly, in the case of govern- to de which When You Read Do strain sm if 4 pri l'l you experience a sensation of eye or fterward suffer from arting, aching eyes or headache? so you need to he fitted to / GLASSES, To be sure of good service and fair ces come to F. L. McGUIRE, MAIN STREE uu r the ¢ LeWitt Bldg.—Telephone )stai Co., | flow to Europe. ment loans. But there is no woubt that the loans of one nation to another form the strongest kind of economic bond between the two. It is commonly said that trade follows the flag. It is much more truly said that trade follows the investment or | the loan.” Need fm" Trained Men. Dr. Pratt emphasizes the need for trained men to handle foreign trade problems and urges their education along special lines. Schools and col- leges so far have seemed unwilling to see the need, he says, or if they do have failed to give the thorough in- struction necessary. Commercial preparedness advocated by Dr. Pratt would foresce that war profits are not permanent and that at ihe end of the war new markets must be sought by American busine Sales on Credit. “It is possible,” he says, “that when the war and immediate readjustment to follow are concluded a large part of our present exports will cease to It is probable that Flurope will be unprepared to Tesume her purchases from the United states | on a scale as large as before the war. | Moreover the sales that will be made ! will be probably largely on credit for a considerable time. It would seem, therefore, to be the part of prudence for us to distribute our trade so wide- ly over the world’s markets that the cessation of our business with Europe will be proportionately less impor- tant.” The war has demonstrated, says Dr. Fratt, that the United States is not economically independent. The busi- ness public, he says, does not fully appreciate the financial crisis through which the country passed during the period immediately after war's out- break. “It is not too much to say that the United States experienced the severest financial strain in her history during that period,” he declares, Definite. Commercial Policy. Dr. Pratt urges a definite foreign commercial policy by the United States. This, he says, is gradually “taking shape under under a wise and careful administration. American in- vestments .abroad are Dbeing en- couraged. But after all the continu- ing of a foreign commercial policy is not so much dependent on officers of the government as on the American stops 1tch1ng instantly! The moment that Resinol Ointment touches itching skin the itching stops and healing begins. That is why doc- tors have prescribed it successfully for twenty years in even the severest cases of eczema, ringworm, rashes, and many other tormenting, disfiguring skin di- seases. Resinol Ointment makes the skin healthy, quickly, easily and at little cost. Sold by all druggists. 1916. OUCH ! BACKACHE ! RUB LUMBAGO OR STIFFNESS AWAY Rub pain from back with small trial bottle of old, penetrating “St. Jacob’s Oil.” When your back is sore and lame jor lumbasgo, sciatica or rheumatism has you stiffened up, don’t suffei! Get a small trial bottle of old, “St. Jacob’s Oil” at any drug sto pour a little in your hand and rub it right on your aching back, and by the time you count fifty, the soreness and lameness is gone. Don’t stay crippled! This soothing, penetrating oil needs to be used only once, It takes the pain right out and ends the misery. It is magical, absolutely harmless and doesn’t burn the skin, Nothing else stops lumbago, sciati- ca, backache or rheumatism so promptly. It never disappoints! ——————————————————— public—on public opinion—and the American public is just awaking to a realization of the situation. “Questioning as to tho utility of foreign trade is gradually giving way to enlightened study and | exploitation. Those who only a short Ume ago were apt to declare that domestic markels were large enough and chafing under restraints of tem- porary handicaps in developing forelgn markets. “Altogether the business community and the public desire to shake off our commercial dependence on Europe and to establish ourselves commer- cially independent. This desire finds expression in the public interest in in- ternational affairs and in our own foreign policies. value and Views on Suggestions. Of suggestions that combinations be rermitted in developing foreign mar- kets, Dr. Pratt sa “It would seem the part of wisdom at this particular critical moment in the development of our foreign trade to extend this privilege by definite en- actment or interpretation to manufac- turers desirous of combining with other manufacturers for the develop- ment of foreign markets.” Free ports modeled after those of Hamburg and Copenhagen are recom- mended in the report, which says ad- vantages of free ports could be ob- tained by further liberalizing the pres- ent bonded warehousing system, the 1ractice of manufacturing in bind and c¢rawback regulations. Changes re- quired could be made in the main, the report adds, by treasury order. New work undertaken by the bureau and reorganization plans are goene into at length. The commercial attache service is described as the most important development in the Lureau’s work during the year. In- @ividual instances of husiness brought to American houses through efforts of the bureau are related briefly. WILL NEGOTIATE FOR STATE’S MAGHINERY Transler of Trade School to Voca- tional Delicate Matter At its special meeting yesterday af- ternoon called to take action regard- ing opening of the Vocational High school the school board gave up a lot of time to the discussion of a pro- position submitted by the state board of education relative to the transfer of the equipment and machinery frown the State Trade school to the new building on Ba tt street. The com- mittee on school accommodations pre- sented the communication from ths state board and it w hoped that the business could be completed at once, but the state board’s proposi- tion, which is in the nature of a contract, made the board cautious and much discussion resulted. The State Trade school contains equipment and machinery belonging to three parties. Some of the equipment belongs to the American Hardware Corporation, which owns the building, other ma- chinery is the property of the state and the remainder is owned by New Britain manufacturers, who leased it to the state when the school was first opened. The state board’s proposition, which deals with the state owned equipment. was the matter upon which the committee on accommoda- tions looked for action, but after much discussion, Chairman Gaffney suggested the following resolution which was adopnted: That the com- mittee on school accommodations be authorized and empowered to nego- | tiate with the State Board of Educn- tion regarding all matters which may arise regarding the transfer of tools and equipment from the State Trade school .itself, as now conducted by the State Board of Education, to the Vocational High school. The com- mittee. will report its action o this resolution at the regular meeting of the board next week Friday. State’s Proposition. The state’s proposition, which submitted after a letter had sent to the State Board of Fducs through Superintendent Holme: ering the use of the new High school to the state gust 1, follows: Voted, That was been ion off- Vocational until Au- the secretary be au- thorized to transfer the equipment of the New Britain Trade school to the high school building and to conduct the school therein, when he is noti- fied that the school committee of New Britain has formally voted to request the transfer in the form fol- lowing:— State Board of Education, Hartford, Conn. Gentlemen:— We hereby request of education to transfer all the tools and equipments now located in the | State Trade school. to the Vocational | High school, and also that the statc | assume the entire maintenance ana the state hoard honest | yet | transfer until such time as the city of New Britain is ready to take it over under Chapter 263 of the Acts of 1915. It is understood and agreed to that this transfer is made subject to the following conditior 1.—That all pupi upon the State Trade idents of pupils not in attendance School, New Britain, and that all residents of New Britain Who may hereafter be enrolled in the Vocational High school between the time of its transfer and the assump- tion of the control by the city of New Britain, shall be allowed to complete their course of 4,800 hours, without of New Britain. 2.—That the city of New Britain agrees to reimburse the state for the tools and equipment which its trans- fers by such a sum as a committee consisting of one representative of resentative of the school committee of New Britain and a third to be chosen by the representative of the state and the city of New Britain, shall assess as its value at the time of its transfer, and further to pay a rental to the state of $50 per month on such transfer to the city of New Britain. —That the city of New Britaln 1 pay all expenses Incident to the transfer of the tools and equipment from the State Trade school to the Vocational High school and the ex- penses incident to such re-installation. Further, that they will pay the ex- penses due to the heating, lighting, power, janitor’s service and repairs of the building during the term of the | state’s control of the Vocational High school. George W. Traut, chairman of the committee on school accommodations said the only question in regard to the equipment at the trade school re- lated to certain tools, some of which are not needed. Most of the live machinery in the plant is desired. This he valued at about $8,000. perintendent Holmes pointed out one feature of the state’s proposition, which should not stand. This re- fers to the state’s control of the no\v Vocational High school. The & not to control the building, he Chairman Gaffney suggested that word occupancy be used instead control. the of Other Matters. Chairman Pease of the finance com- mittee reported that a bid of $225 had been secured from thq New Brit- ain Planing & Moulding Wirks for fit- ting up and equipping Room 33 in thg High school building as a science and recitation room. The committee was empowered to let the contract at the mrice submitted. from the board ported by Mr. of public Pease was put over to the regular meeting. A com- munication from Principal Slade of the High school asking for a modifi- in the High school to be at thelr desks fifteen minutes before the hour at noon, making it ten minutes, was read. It was explained that the re- turn to the all day noon period at an hour and a quarter and was asked. a suspension was put over to with the understanding quest should be allowed. Principal Slade sent ication r arding noon sion at the High school. day session goes into effect about 170 out of town pupils will have to spend the noon hour at the building. Mr. Slade sug- gested that all the class hooms be locked during the hour and that the pupils be placed under the supervi- sion of two persons, a man and a wo- n who should be amply paid for the work. Tolding lunch tables, which could be set up in the middle and east corridors on the second As the request required of a board rule action the regular that the re- mun T he all soon and Excellent for Coughs & Colds HALE’S HONEY of Horehound & Tar Al Druggists Use Pike’s Toothache Drops CHRINS “If you want to LIt not; as sure as We feel that drop out. By this earnings. tle as fif But Join Now. pervision of said school after its | e e not res- | any fees or other charges by the city | the state board of education, one rep- | su- | abitac A communication safety re- | 8 cation of the rule requiring teachers | session fixed the | on that account the modification | meeting | another com- supervi- | and suburban | WHAT JAM know ure in life you can easily ARE you live. way the one who saves. we do sure! cents a wee self the chance of starting the saving THINK You can’t join this Club without Opportunity Is Knocking at Your Door. WE PAY 1 “LITTLE DROPS OF WATER. LITTLE GLEAMS.OF SUN$ MAKE, THE -~ 'BUT THATS TELLING, WATCH IN THIS PAPER. THEY RE - "JUST NATURALLY GOOD" and third floors of the vocational building were needed. ~The luncheon period should extend to 12:30 and aft- er that the students should report for study or quiet recreation until the close of the noon hour. Mr. Slade said he proposed to communicate with the parents of the students who would be in the building during the hour asking their consent to the arrange- ment. After some discussion it was decided to refer the comunication to the finance board with power to act. The question of contracting with | the manufacturers who own the ma- chinery in the state trade school to turn it over to the city was brought up. Mr. Pease, whq has a copy of the contract with the state and knows the situation thoroughly, said the manufacturers have already agreed to turn the machinery over to the city as soon as the contract with the state is released. Settlement of this problem was left with the com- mittee on school accommoda Superintendent Holmes sald the Vocational High school woul ready to open about January 17. delay has been caused by the no rival of the motors. Chairman Traut of the com on school accommodations was to report on the purchase of the rell property as a site for: the posed hew school to replace the | ritt school and relieve congestl | the Bartlett and Smalley schools | it was decided to put this matte; to the regular meeting. " ASK FOR and GET | 'HORLICK® ) Cheap substitutes cost YOU same g We Specialize on Home furnishings toMeet the Requirements of the “Average Home” We sell homefurnishings ranging from the lowest-priced whiel are worthy to the very finest and most elaborate made. It is th MEDIUM grades on which we specialize. The ‘*‘Average Home' does not call for elaborate and costl furnishings and the lowest-priced furnishings are not good enough It is the medium grade which are well made from durable, and attractive, the type of homefurnishings. lowest-priced. We realize that there are are required—homefurnishings serviceable materials, and that are ne and in good taste; Our extensive stock th not the most expensive and ng consists largely of thi many who know that it is to their ad vantage to buy the grade of homefurnishings on which we speci ize, but find it inconvenient to pay cash in full Our arrang ment for Deferrcd Payment accounts offer the solution to the prob lem. Our terms are not over ally liberal. the average customer. If yours is an conservative nor They have been adopted they sensation to meet the requirements o are verage Home"” and you have new furnishin to buy you should make it a point to become acquainted with t store which specializes on you needs. C. C. Fuller Co 40-56 FORD ST., HARTFORD. Overlooking Capitel Grom WHERE QUALITY IS HIGHER THAN PRICE T NLEAS J. HILL YS ABOUT S. whether you find out. The test simple, YOU ABLE TO SAVE MONE You will lose. 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