The evening world. Newspaper, June 18, 1920, Page 30

ESTABLISHED BY JOSEPH PUMTZER. a9 Publishing ‘ROM a Republican point of view, the most unpardonable thing in Louis Seibold’s inter- “Y view with President Wilson in The World this morn- “ing is the President's refusal to recognize the League of Nations as the special perio of his own Demo- cratic brain, “They accord me too sh credit,” declares the President, “for the conception of the League of Na- tions project. While 1 am glad to assume the re- Sponsibility for the part I have played in promoting it, the honor of discovering its merits and appre- ciating its values cannot justly be given to me,” Much ealier advocateswof a) League of Nations, the President points out, were such eminent Re- publicans as William McKinley, Senator Theodore Burton of Ohio and even Senator Lodge himself. This is atrocious. If the League of Nations is not Woodrow Wil- son’s League of Nations, why in the name of party Politics have Republican leaders wasted months of Strain and struggle to convince themselves and others thatstwenty-cight nations already membérs of the existing League: must be made to discard it for a Republican substitute? For Woodrow Wilson to step aside and reveal thé League of Nations as the realization of aims that have long transcended the purposes of any one party or people can only be infuriating to Re- publican treaty wreckers, They have gone too far to stop in their assault ‘on the idea. What right has the man to make fee their motives? THE G. 0. 0. MEETS. RITING from Washington a more for the World says: Virtually the first~political conference par- ticipated in by the candfdate was an informal gathering of Republican Senate leaders who * happened to be in Washington. The number included Senator Lodge, Senator Smoot * © © and Senators Brandegee and Fall. ' The Washington correspondent of the Times acs the further information that the conference _ took place at the home of Senator Lodge, The same evening President Butler in a public address described the Republican nominee as on: + who “will take counsel.” Counsel is the Grind Old Oligarchy’s longest and strongest suit. But would the country care_to be.governed by a “conference” of Old Guard Republican Senators ‘with’ a meeting place in the White House? OUIJA POLITICS. iE EVENING WORLD herewith presents to the public an exclusive forecast of political events as reported by Ouija board. * The question asked by the Ouija investigators was, “What success will the Committee of Forty- eight third party have? Ouija replied: Mi The new third party will win electoral votes in Wisconsin, Minreso'a, North Dakota and will carry scattering Congressional districts in other States. Mugwumpism in Republican ranks, as tle result of dissatisfaction with the Repub- lican nominee, will’cut the normal Republican majority. Neither the Republican ror othe Democratic Party will told a working majority in Con- gress or in the Electoral College. | , The election will be thrown into Congress. The*third party will hold’ the balance of power. The result will be to force a coalition of re- wv actionary Reputl cans and Democrais against the rcdical t/ ird parly nominee. f Out of this targle will arise two new par- i ties, one conservative, one liberal. ; "So saith Ouija. The prediction is all that the most optimistic proponents of the third party could , hope for. It is only fair to say that in this instance both the ‘Ouija operators were prospective members of the third party and the result may be explained as the sesult of suppressed desire. Other Quijas disagree, = political speculation, ‘A POOL FOR HOME BUILDING. Mia forthcoming because other enterprises will overbid. Even so, the prophecy is not impossible of fulfil- ment. We present it as an interesting field for gel YORK is facing a crisis—and a serious In New York we have a famine in So long as the financial institutions are on a Purely competitive basis the money will not be But the.crisis is here. The possible results of fail- ‘ure » meet the situation are not pleasant to con- “AU onl Aiiakad Pay) that the big bankers pase He | wow ot pitt = Housing Committee, but the need exists for a fund to build homes. In the days before the formation of the Federal Reserve System, the late J. P. Morgan used to take command of the financial front when a crisis threat- ened, He was the champion organizer of “money pools.” He was accustomed to order the stronger financial institutions to contribute according to their ability. In so doing he sometimes deprived the big banks of the opportunity to reap profits in the crisis. But they stood the gaff because they had to. Why not a 1920 model and beneficent “money pool” for home-building loans, to be raised by pro- rated assessment of the large lending concerns, and to be administered by experts on sound business principles even if at a lower rate of return than pre- vails in the open market? If the bankers are unwilling to work with the Mayor, leave him out, e THE PATH OF SOCIALISM. ESPITE the strong opposition of Samuel Gompers, the American Federation of Labor Convention at Montreal, by a vote of 29059 to 8,349, indorsed “Government ownership with demo- - cratic operation of American railfoads.” Even the effort of a majority of the Committee on Resolutions to substitute the word “control” for “ownership” failed, By a vote of more than three to one the convention declared for full Government ownership. This action is of deep significance 4 as showing the strength of the new element that seeks to direct the aims and purposes of organized labor, There were not lacking in the convention labor leaders of high standing and influence to point out what a vote for Government ownership would mean. It would mean, said John P, Frey, Chairman of thé Resolutions Committee, “the turning point in the entire trade union movement in this country,” “We have had a distinct philosophy and definite methods which for forty years have kept us away from the paths of Socialism. ‘We have,done well under that philosophy that American policy.” If you adopt Government ownership of railroads, Chairman Frey warned the convention, “you must be prepared to go the full route, be prepared for nationalization dt mines, Government insurance, nationalization of banks and bankipg, nationalizations of all industry.” Mr. Gompers did his utmost to persuade his fel- low-Workers*not to vote “to enslave themselves under Government authority in their efforts for ‘in- dustrial freedom.” Warnings and persuasion were in vain. The majority of the convention was caught and swayed by the one reminder that “under three years of Government control more was accomplished for organized labor than in all the years under private ownership.” This is the line of thought that now fascinates the section of labor which professes ta be most progres- sive. Put the whole responsibility on the Government, and wage demands will be met in the future with the same readiness with which they were met during the period of war stréss, Behind the Government are the unlimited ré- sources of the Nation and power of taxation to make good all deficits. - Who will carry the burden of the taxation re- quired to keep wage-earners Gontented? What will be the effect of such taxes on prices the wage-earners, as consumers, must pay? These questions lie in the vague beyond. The economic reasoning of the new leaders who have the ear of labor stops conveniently short of consequences. Broad and fair are the beginnings of the path of Socialism, The steep and narrow places of the middle dis- tance are all concealed behind rich foliage in the foreground, ANOTHER HINT FROM PARIS. ARISIAN women workers are up in arms over the crowding of the tubes during rush hours, They will have the sincere sympathy of New York subway riders who have experienced the jams at Grand Central and Times Square and who feel sure that it is a physical impossibillty for the Parisiarts to suffer any more crowding than New Yorkers have resigned themselves to, In a protest against the pushing to which tube passengers are subjected one business girl is quoted as saying that “the traditional gallantry of France is a dead letter” and that rush hour travel is nothing but “a battle in which the weak have no chance against the strong.” The French girls suggest cars reserved for women, Itmight not be a bad idea here, The packers would pack the girls just as tight, and by separating the women and the men it would spare the male passen- ger the uncomfortable feeling of holding his seat while women are standing, Boarding a car reserved for the exclusive use of males, a man need not feel himself lacking in gal- laniry in sticking to a seat he has been fortunate THE EVENING WORLD, ower JUNE 18, 19 Money has value; power, High value of mone; prices of commodities. Low value of mone; prices of commodities. creases, creases, If the increase in supply is pi portionate to the increase in demadé, then the value of money remains ua- changed. An over supply of money dorsum its value. * ‘An insufficient supply of money ig creases its val The volume of business United States | FROM EVENING WORLD READERS | UNCOMMON SENSE By John Blake (Copyright, 1920, by John Blake.) TO-DAY IS THE DOOR OF TO-MORROW. You are going to do big things to-morrow. Everybody is, But how are you going to get to to-morrow? Do you know of any route that will lead you there except the route that leads through to-day? A good to-day will mean a better to-morrow. of progress will mean a to-morrow of achievement. achievement is what counts in this world. The man who achieves nothing profits nothing, unless he happens to have inherited money, which is an accident that spares most of us. It is well enough to keep your eye on to-morrow. pilot keeps his eye on the next Gay's course:that has been But he also pays careful atten- The-dem: What kind of*letter do you find most readable? Isn't it tlie one that. gives you the worth of a thousand words in a couple of hunured? There is fine mental exercise and a@ lot of satisfaction in trying to say much in a few words. J Take time to be brief. for actual greater. Credit money. Bank credits, transferable checks, are in use in enormous Oudin- tities daily. ry If these checks were “reoneneh paid in money they would repre a demand for money. of them are simply one credit balance and added to other, where, for the modern girl is enough to discourage any youne man who Is Pitifal Ignorance. ‘To the Buiter of The Drening World: In reference to your editorial en- ~ search of a lady. So girls take heed and instead of trying to be autiful ” sorry to state that I have several) the American toy ail coe hove tee Your claim that in search of a wife in foreign parts. li ‘It is‘better to aim at the sky and miss jt, than to aim at a College Point, L. L, June 15, “Homeric Laughter,” criticiams to make. “the League of Nations,” as it were, on Democratic parchment would have | }, ed the Republican Senate If same instrument had borne the signature of a Republican, Reing a non-partisan and at pres- ent not interested in the pending Presidential campaigh, 1 rtate that I agree with Senator Reed, a Democrat from Missouri, that it ts not our business to intermingle with Buropean affairs, Furthermore, (Senator Reed) points out the advantages England would assume @hould the United States be this covenant of the League of Nations. ‘To my recollection we were to as- sume a mandate over Turkey. should our soldiers, our mopey be sent to deal with those uncivilized ‘The English are tricky Barge Canal. pricked out on the chart. tion to the sea just ahead of his vessel's bow. Everybody with ambition dreams of what he is going to do. If he didn't, he would never do it. But it is, neces- sary-at the same time to employ to-day in figuring: out ways and means of getting it accomplished. It was said of a very brilliant actor, who never attained the success his talents should have won for him: “He talked beneath the moon,, He slept beneath the sun, He lived in the Land of Going to Do And died with Nothing Done.’ The To-Morrow Man is always a procrastinator, and procrastination “is well up on the list of life’s most costly I have read with Interest Sophie Irene ‘Loeb's article on the Barge Canal and the quotations therein of State Superintend¢nt Bdward Walsh, One ‘would be led to think, accord- ing to Superintendent Waish, t! equipment, owned by the Gover! and now operated by the War Depart- ment was rotting from want of use at some dock. Mr. Walsh's statement of tonnage handled by the Govern- ment line may be true about last year; but how about this ye&tr? Dur- ing the first month ‘of operation this year (May), the tonnage will astound ‘. . It will probably be about 30,000 tons of freight. understood that last year the boats were being operated under certain handicaps. Lack of deck equipment for the boats was one feature. order that some boats could be oper- ated other boats had to be stripped of their equipment. steam canal boats had been @elivere: from the builders. At the presen’ “Just the stuff,” “But while you're to Turkey we would un- tter buy right. doubtedly protect English interests. ve cnee ae Should anything arise in Dgypt, or India, which, countries are nearest to Turkey, the United States, being an There are so many reasons for doing it to-morrow. But unless some of it is done to-day, none of it can be done to- Remember that as you remember the Ten Com- mandments. He would be a silly architect who, hoping to win fame by erecting a beautiful building, deferred the sinking of the excavation for the foundation, to enable him to indulge in his dreams of the building as a whole, To-day is the day for the foundation. and your dream of to-morrow may come true. nd to-morrow ‘will always be for you a forbidden Ufe. to protect English interests. our lesson with the tives during their insurrections, Furthermore, what is the necessity of a representing body of the United States, euch as the House of Repre- sentatives or the Senate, if all inter- national affairs are to be adjusted by the League of Nations? Then, again we have the vote question, Philippine na- None of the in operation and more building and near completion, Give the Government line a chanc: and the public will see a canal service never dreamed of. The men in charg: of this line know the business an the possibilities of the canal and arc bending every effort to get this fleet of boats In smooth operation, recommendation turning over the Government equip ment to private owners to operate | Where are the privat Interests that can furnish $5,000,000 t: purchase these boats and ‘complete those on the ways? If these private interests secured these, one would #0 them operating around New Yor! Harbor, Long Island Soun: averywhere but on the canal. A FRIEND OF THE CANAL, Now York, suno 16, 1920, Get that down, But neglect among the nations which are repre- sented by the League, It will be up i to adjust same, as she has the surplus of votes to control it My America, as tt is set down in the Monroe Doctrine. Ni TN nnnnnnnnnnnnnnnmnnnmmnncnmrnenyt®> to supervisory officials, which is well teserved; but surely if they need that much on $2,000 to $2,250, then why in the name of common sense does not the man getting $1,050 per annum yeed just as much Increase according to present living conditions? Then the Republican Party insults ur intelligence by telling the people, and having it embodied in their plat- ‘orm at Chicago, how magnificently it helped the postal service and its gain a measly increase of $2.02 per Do! you wonder why there ia a clamor from the American doughboy and al soldiers and eobs, good American, citizens, fora third party in the fleld, where the repre- sentatives will not be hand-picked candidates, but who will only owe al- legiance to their constituents? Cc, » Brooklyn, May In reference to the letter from A! Tama twentieth, century girl, just past eighteen and considered ‘pretty by both men and women al- The Use of Words. To the Editor of The Evenirty World: the word or be applied to’ the closing exercises’ of & college or school when diplomas, &c., are given for ef- ficiency in past studies? The word Commencement implies a beginning and not the ending. Don't you therefore think that the word is Incorrectly used? gain—why should a woman be lel @ bride after she is married? The meaning of bride, according to Webster, {8 to be under contract or me also to§nform you the re just as bad.” ‘our years ago we had a pretty tough ‘ght on our hands to put over that Aira @ Grievance. To the Editor of The ening World Permit me through your columne to onter my protest, along with numer- satal employees, against the re- cent post office salary legislation, So this is the substantial increase which one of our distingutshed Sen- ators from New York State wrote and told hie constituents she would help though I do not paint, use lipstick or any other cosmetics, wear extremely “Commencement” low necks or short skirts, In spite of all this I have any number of friends of the opposit . When I look upon members of my sex I am shocked and blush (quite tural) with shame when I think that ladies (7) act, dress and camou- flage themselves I often wonder why they wear any clothes at all, They are dis- gusting and everything but feminine and I refuse to look upon them as eson made a statement in the we ought to be glad we were it over in the trenches. 8, was and always will be that most of us were sorry we were not. The Government would have had to give us our chow, ‘take care of us when we were sick, clothe us and give us our shoes free of charge, and per- haps we would be dead, then we wauld not be able to humiliate our out and educating pontar Prk as hills. 3 of waters. Bnet Hundred and Sfty dollars, lebs $105, an increase in pay of al sexta Instan © in, in ces, grant eases of $800 and §400 per Fett they exist until married, when she 1s AN EVERYDAY READER, New York, June 16, 1920. You can hardly blame the young officials by goin, man-—or rather gentleman—of to-day ecoking one hfe else- 1; the public ees Economics Primer ca Kévor Ethie New “ror” senting Wi This is the first article of ae series which presents in a brief and aimple way some of the elementary principles of, , economics that make clearer problems now uppermost in of the public mind. Discussion; of these problems is only prof- itable where there is agree- ‘ment as to the meaning of terms and phrages ‘employed. 1. MONEY, 1. ‘There is a demand for money; ithe needed to carry on business. There is a supply of money; gold, ir money, &c. The value of money can change; its purchasing power ts sometimes greater, sometimes less. A When the value or purchasing rt of money is high, one dolfar will buy much in commodities; that is, prices of commodities are low. 4 When the value or. purchasifir power of money Is low, one dollar wiki jbuy less in commodities; that prices of commodities are high, SUMMARY. y means i y means ‘ The value of mosey is determin by (1) the supply of money and the demand for money. ‘As the volume of usiness the demand for money bi ILLUSTRATION. © During 1916 and [916 the Uni States received ‘from foreign coun. tries $1,000,000,000 in gold. This increase enormgusly. The increased volume of busingss due to war orders increased the mand for money considerably, but not in proportion to the increase in sup- ply of money. Prices of commodities rose, IV. ‘The demand for money is increaséd by an increased volume of business. ILLUSTRATION, But nearly SUM. MARY. ‘The demand for money is (1) in- creased by an increased ‘volume of business, and (2) docr use‘of credit instrumen aged by oo - Speaking of the H. C. L. He started out fo buy a filvver. He ended up by buying a lmousine. gt happened like t “I've a little nest egg," he told the salesman confidentially, I can buy a little roadster or ligit touring car and not go into debt." # said the salesmal®. going you had Put in a little mo you know, and then when it ts pafd for, you'll’ have it. beautiful car, j. adapted to a'm ——— A Toast and a Roast. OL, BOB MAXE was at the a nual meeting of the Bar Ass ciation of North Arkansas, a some of his friends thought it wou! be a merry jest to propose that ap respond to the toast: ‘V the Colonel] was equal to the OC Cir sion.- He. said: “Mr. Toastmaster, ladies and geny tlemen, you have asked me to respor to the toast ‘Water,’ best of the things that God created. want to say that I have see; glisten In tiny tear dtops on sleeping lids of infancy; {t trickle down the blushing chedks of youth, and go in rushing torrents down the wrinkled cheoks of age. have seen it in tiny dewdrops on blades of grass monds when the morning sun 6) In resplendent glory over the east I have seen it in the rush river rippling over pabbly bottom@e roaring over precipitous falls in mad rush to join the mighty father And I have seen it in fe mighty ocean, on whose broad bosom float the battleships of 4 bride | but, ladies and gentlemen, | want to bona fide say to you now that as a be: it is an \nferna! failure. goles Timer. cane like polished di the wor vel it has purchasing d the supply of coll v in tl in 1800 was mu smaller than the volume of business in 1900. Therefore the need for money in 1900 was much greater than the |need for money in 1800. and for money js decreased y the use of credit Instrum. day some business trans: carried on by the use of book cred some with checks, some with pro sory notes, bank drafts, &c. If none of these credit devices-w@te used, that is if every purchase were | paid for in cash on the spot, the need money would be mugh fs thus a substitute fbr deducted. frt “arid T figuife Now look at tifis st what you wamt n of your station ft It's only ‘steen hundred dollars? “But that price is nearly $1,000 ro} than the light car.” “You can't afford to put up with something below your station,” sai the salesman, eyeing him criticail The bargain was struck. the purchaser, his nest egg on deposit and the future mortgaged a year far a car that wouldn't run any’ further or any faster than th means.—Chfea, Out went one within his the purest a1 I have seen los An-