Morning Oregonian., May 17, 1920, Page 2, Image 2

THE MORNING OREGOXIAN, MONDAY, MAY 17, 1920
L P.
VICE-PRESIDENT, DIES
Death Comes on Ninety-sixth
Birthday.
les: ,.
MORTON
FINANCIAL WORK NOTED
Government Saved Millions of Dol
lars Alter Civil War by
Floating Huge Loan.
POUGHKEEPSIE, N. Y.,.May
Levi P. Morton, former vice-president
of the United States and former gov
ernor of New Tork, died at his home,
Ellerslie, Rhinebeck on the Hudson,
at 8:30 o'clock tonight on the 96th
anniversary of his birth. .
Mr. Morton was taken ill with a
Blight cold three or four days ao.
but his condition did not become ser
ious until this morning when bron
chial pneumonia developed. He lapsed
into unconsciousness soon after and
the end came peacefully at 8:30
o'clock. With him at his bedside
were his daughter, Mrs. Hellen Mor
ton, who made her home with him
at Ellerslie, his country estate, since
the death of Mrs. Morton in August,
1918; his daughter and son-in-law,
Mr. and Mrs. 'William Eustis of Wash
iTirinn. r c and his nephew, Morton
Minot. Another daughter. Miss Mary
Morton of Germantown, Pa, will ar
rive tomorrow.
.. Birthday Is CelekrasVd.
Mr- Morton's 96th birthday was
formally celebrated yesterday when
the children or the KnineDecK scnooia
held a field day at his country es
tate. He had returned .to Ellerslie
from his Washington home May 8.
apparently in good health. .
Mr. Morton was the 22d vice-president
of the United States, the running
mate of Benjamin Harrison in 1888.
At 71 years of age (le rounded out his
political life as governor of New Tork
Although born the son of, a clergy
man in poor circumstances at Shore
ha:n. Vt-. in 1824, he forced his way
to the front in the business and
financial world until he became one
of the money powers of the country.
M hail trio blood of a financier in his
vim HAaoendant as he was Of
George Morton of York, England, who
raised funds' t send the Pilgrims to
America -on the Mayflower.
Career Bricins Early.
Clerk in a country store at 14.
atAn..;,s,,- nf Klfl nwn little drveoodS
store at 21, he started nis panning
career at 28 as a partner of Junius S.
Morgan, father of the late J. Pierpont
Morgan, and 10 years later founded
his own house of L. P. Morton & Co.,
which became the fiscal agent of the
government. Under his guidance, it
conducted so'me at the largest nego
tiations in the history of American
finance. Its London branch floated
the & per cent loan, with other Euro
pean bankers, which enabled the
United States government to resume
specie payment of 1871. saving S70,
000,000 in interest. This payment had
been suspended during and after the
civil war.
Mr. Morton's financial operations
brought him into political prominence.
He entered congress in 1878 and es
tablished a reputation in the fight
over unlimited free coinage of silver.
He was urged to accept nomination
for vice-president with President
Garfield, but declined. He was of
fered a portfolio in the cabinet as
secretary of the navy, and. refused
again.
The offer to become minister to
Krance appealed to him. He accepted
and remained during -Garfield's and
Arthur's administrations. He ob
tained the legal status of American
corporations in France. He drove the
first nail in the construction of the
Statue of Liberty, and publicly ac
cepted it in 1886 in behalf of the
United States. He established him
self so firmly in the hearts of the
French people that the square on
which his legation stood in Paris was
earned "Place des Etats Unis."
Vice-Presidency Is Accepted.
When a New York man was de
sired in 18S8 to stand on the repub
lican national ticket with Benjamin
Harrison, Mr. Morton was the choice
of the convention by a large majority.
As presiding officer in the senate he
gained the praise of both parties for
the vigor and the fairness of his
policy. Mr. Morton concluded his po
litical career as governor of his Btate,
taking office in 1895 and serving two
years. He signed the bill which
abolisned the ward-trustee system of
school government in New York
city, and the so-called Raines liquor
law.
After leaving office he still was
active in the directorates of many
corporations. He was rated a mil
lionaire many times over.
Mr. Morton was twice married. His
first wife was Lucy Kimball, who
died in 1S71. His second was Anna
Livingston, member of an old Man
hattan family.
All That the Term
" Tailormade ' '
Implies
MEN who wear tail
ored clothes' both
. look and feel the
distinguishment which
better materials, later
styles and neater iit con
vey. $60 to $90
M ore Other Places.
enrp W. JTacohgon
SSlai's JEaOor
S24-32S
Horrlwi St.
Portland
Bote! Blocs
CAUSES TIE VOTE
FIGHT TO BE RENEWED WHEN
, DEMOCRATS PRESENT.
Sales Tax Eliminated and ' Other
Levies Extended to Three Tears
Instead of Only One.
WASHINGTON. May 16 On a te
vote, with one member absent, repub
lican suDDOrters of a stock dividend
'tax to finance soldier relief legisla
tion in the house ways, and means
committee Saturday lost their fight
for a 10 per cent levy, retroactive to
last March 15. The majority mem
bers of the committee divided seven
to seven.
The fight, proponents of the tax
said, would be rsiewed next week
when democrats of the committee
meet with the republicans to take
final action on the relief bill, the
drafting of which was completed to
day by the republicans. . The sales tax
has been eliminated and the four
other forms of taxation . extended to
three years instead of two.
A further fight in comfrTitteea
against the cash bonus, the maximum
limit of which is now fixed at $500
for -service in this country and $652
for overseas service, is threatened.
Besides the bonus, the bill offers four
options, the value of each to be 40
per cent greater than that of the cash
provision.
The bonus would be fixed at a rate
of $1 a day for service in this coun
try and $1.25 a day for overseas. The
optional benefits are paid-up insur
ance, home aid, reclamation of land
for farms and vocational training.
Taxes proposed to add $500,000,000 a
year to government revenues for the
next three years would become effec
tive next December, as follows:
A new surtax levy on incomes ex
ceeding $5000; 1 per cent- of the
amount between $5000 and 10.000 ; 2
per cent on that between $10,000 and
$26,000, and 3 per cent on that ex
ceeding $26,000.
"A levy of 2 cents on- each $10 of
exchange transactions in stocks and
bonds and deals in futures of grain
and products.
"A tax of 25 cents for each $50 on
real estate sales. Increase of 15 per
cent in existing taxes on tobacco and
cigars.
Payments of the bonus would be
gin July 1, 1921, and be made in quar
terly installments of $50 each."
safe to take too much for granted.
If the democratic party follows Wil
son . in his uncompromising stand on
article X, it will not be because they
like article X, or the president's firm
ness, but because they feel it would
be mistaken strategy to do otherwise.
As one democratic leader expressed
it: "We are the party that is in. The
party that Is in can't make a platform
of promises. It must base its platform
on performances. . The republicans,
as the party that is out. can base
their platform on promises, but we
can t. We must stand on perform
ances. The league is our performance.
Like it or not, we have got to stand
by it."
While ths.t may prpbably turn out to
be me policy or the democratic party,
the truth apparent to any observer
is that In their hearts the demo
crate don't like article X.. It is doubt
ful if there are five democratic Sena
ators who would vote for article X
if they were relieved from the sense
of obligation to the party and to Wil
son: throughout the country as a
whole it may fairly well be doubted
whether a majority of individual dem
ocratic voters are really in favor of
the position the president took last
night.
EMERGENCY ACTION ASKED
FREIGHT CONGESTION CAUSES
APPEAL TO GOVERNMENT.
WILSON EDICT MAY AID
(Continued From f irst Page.)
CHEHALIS TO ENTERTAIN
Automobile Caravan to Stop for
Noonday Luncheon.
CHEHALIS. Wash.. May 16. (Spe
cial,) -The Chehalis Citizens' club
will entertain the Pacific Northwest
Automobile caravan, which is en
route to California, at the noonday
weekly luncheon Monday. Chehalis
was selected as a stopping place
owing to this city having the finest
hotel between Portland and Seattle
and the fact that the city is half way
between the two principal centers.
Mr. and Mrs. J. D. Rice of Chehalis
expect to Join the caravan and make
the trip to California. W. F. Elliott,
a prominent dry goods merchant, will
also attend the tan Francisco con-
' ventlon. . -
HOWELL BOY ACQUITTED
(Continued From First PasO
nocent. was ready to aid him in car
rying the case to the supreme court.
Prisoners' Aid Helps Howell.
John A. Collier, ex-deputy district
attorney, who took part in the de
fense of young Howell, was sent to
the trial at Marshfield by the Pris
oners' Aid society. This organization,
witn tne assistance or private sub
script ions, procured the fund which
sent him to Marshfield, because it
felt the boy was entitled to every
possible assistance in his effort to
prove his innocence.
Snoqualmie Pass Crossed.
YAKIMA. Wash.. May 18. (Spe
cial.! Marry Lener, connected with
Seattle-i akima automobile house, ' is
the first driver to bring a truck
across the Snoqualmie pass this
spring. ' He took nine hours for the
trip, and encountered snow two feet
deep at toe "sHJ"""-
connected with a single detail of the
treaty.
Broadlv speaking, the programme
tentatively reached provided that
there should be no mention of reser
v.tinns and therefore no indorsement
either directly or by implication of
the ' pro-reservation senators; that
thers should be condemnation of the
nresident's method of making tne
reaty in the beginning ana aiso oi
his unwillingness to compromise at
the end, and that in a broad way the
efforts of all tne repuDiican senators
to "Americanize" the treaty should be
commended.
On the affirmative side, trie pro
gramme looks to maKing a aeciara
tion of policy in favor of the outlaw
ing of war; of an international agree
ment for the reduction of armaments;
of the codification of - international
law, and a supreme . court oi tne
world. '
Broadly speaking, these declara
tions would Indorse as much or tne
treaty as the republicans are willing
to Indorse, and that is a good deal,
omitting always that definite agree
ment binding as to future actions
hich the president has called The
Heart of the Treaty." :-'
Wilson Attacks Reservations. .
Now comes the president and states
what his position as to the demo
cratic platform is. That position is
to "support the Versailles treaty and
condemn the Lodge reservations.
Later on, without mentioning article
X by name, he specifically calls for
Indorsement of It by practically quot
ing its important words: "Specific
covenants of territorial integrity to
great and small states alike."
. Strategically, the utterance of the
president leaves what 'might seem to
be an agreeable opening for the re
publicans. They could now merely in
dorse the Lodge reservations, and
have a clear and adequate issue as be
tween themselves and th jtemocrats.
But the republicans woaft stop there.
They won t stop there becaasM Wn
irreconcilables won. t let them. The
irreconcilables are in the saddle.
They have been put in the saddle by
their cumulative successes of the past
year and by the vote of Indorsement
Senator Johnson has been getting
from the public
Meantime, how will the president
fare with his own party? Probably
Us. will succeed, ijut it would; be unr-
Railroads Say No Immediate Hope
of Obtaining Equipment and
No Time for Repairs.
WASHINGTON. Mar 16. fBv the
Associated Press.) The government
was asKed Saturday to take emer
gency action similar to that taken
when this country entered the war to
neip tne railroads out from under the
worst Ireight congestion since 1917
A joint appeal to the interstate com
merce commission by the Association
or railway Executives and the Amor
ican Railroad association declared the
ireignt jam to be such as to "war
rani ana require" immediate use of
the comm'ssion's broad powers under
me transportation act in checking
"menace" which had assumed threat
ening proportions.
Common' use of equipment, and em
""8e. priorities and diversions of
ampments were urged by the rail
. a.a uiAua wntcn tne commission
uouia empioy to remedy the situation
me ruaas asK, also, that they be al
luwea to . curtail passenger service
accessary, out indicated this would
oe none only in the extreme cases.
wniie tne present rnnriirfAn. .,
tinue.-the appeal says, carriers should
be relieved from operation of state
ana reaeral laws which hamper them
"leeiuig tne demands upon them,-
xiie raurraa oinciais represented
i me commission mat there was
iii.iueuia.to nope or obtaining ampl
equipment ana tnat the volume of
commodities being offered for trnn-
portation permitted no time for proper
CANDIDATES DEBATE TOPIC
Eugene E. Smith and C. A. A. Mo-
Gee to Discuss Presidency. ;
A reminder that primary season Is
drawing near is contained in the an
nouncement, handed out yesterday
rrom tne tiiram.. w. jonnson and thi
Leonard Wood headquarters that rep
resentatives or tnese two candidates
will break lances in- a joint debate
to be held in the municipal audito
rium tonight.
Eugene E. Smith, labor leader and
candidate for congress' will be the
of ' MerchcHsin
Fair Price is Sound Policy
To our host of friends, the sellers of Coca-Cola to the public:
IET us have a little family "discussion with the windows open so that the neighbor
j can hear it if they want to1 about that ever-vital topic. Prices.
This is the one time above all others in our long career of sound merchandising when
Price ought to be governed by Principle
High principles of merchandising alone can be relied .upon to combat high cost in
many lines where the temptation to profiteering is strong because of public demand.
To charge all that the traffic will bear is bad business at any time; at this time it
is the worst of bad business for the Coca-Cola dealer whose maintenance of standard
price for many years has not only established Coca-Cola's good faith with the Amer
ican millions, but, together with its maintained quality and maintained advertising,
has built the good will of the product
We ask our friends and partners in the mos comprehensive system of distribution
in American .business to reflect that Coca-Cola was the beginning of the soft drink
industry and has always been the backbone of the soda-fountain trade; has carried
and built up many an enterprise which made it a trade "leader"; has far outsold
any other soft drink in the world; and that for thirty years it made the 5-cent nickel
the biggest buying power in a, beverage. Independently of the cost of making it,
.The Coca-Cola Company has steadily maintained its delicious and refreshing quality
.insured above imitation, and maintained its advertising appeal to the increasing
millions of its consumers without permitting any conditions of ordinary fluctuation
to disturb the price. In no other way could Coca-Cola have built up the volume
of business for you, Friend Dealer.
Sound merchandising alone can weather the storms. The policy that overlooks
the insured dollar of tomorrow td pick up the loose dime of today points away from
prosperity to demoralization. Your neighbor who is merely "getting while the
getting is good" is at the same time dispensing bad will that will react upon him in
the day of reckoning. Sane pricbs are the only sound policy and safeguard of suc
cess one year with another. Fair prices today are your option on the volume of
trade that will forsake the profiteer tomorrow. You will be doing business at the
same old stand.
Stand by high principles of merchandising and they will stand by you when you1
have need of them
"J
BUSS
There is no more powerful and compelling example for good in these times than the
merchant who stands on principle to forego opportunism
There is no one force that will stand the nation in better stead.
The Coca-Cola Company
Atlanta, Ga.
J-l'-W- , -I'll , r-Tt-l -A-JiW i-J ffc-A" III sT " d. A, r-TTTsfc 1 sWI.-. s sT 1 I I I I ,) a Llll 1 iHIl 'H.F mi-l-r
speaker for Leonard Wood in the con
test, while J. A. A. McUee, who has
come to Oregon in behalf of the John
son campaign, will tell why he is for
Hiram. Rabbi Jonah B. Wise will
preside over the meeting, which now
promises to be rich in intense mo
ments. . .
Representing the public will be nu
merous, voters still professing open-
mindedness as to issues involved in
next Friday's election, as well as in
terested backers of the two leading
candidates in. whose behalf the meet
ing is being held. Everyone is invited
TIRED, ACHING FEET
make you ; inefficient and
cause you much suffering.
GROUND GRIPPERS
will relieve you of all foot
trouble, and give you ex
cellent service. . '
For Men, Women and
Children.
Ground ,Gripper
Shoe Store
381l Washington Street.
to be present at 8 o'clock, the time for
which the meeting is scheduled.
Oil Supply Expected to Last.
Under the present plan of rationing
gasoline to owners of passenger auto.
mobiles, the gasoline supply in Ore.
Son, and particularly in Portland,
snould last until the next oil tanker
arrives, according to predictions made
of the Standard Oil company In Port
land. The next tanker Is expected to
arrive in the Portland harbor by May
after which the present restric-
yesterday by J. K. Balsley. manager I tions probably will be lifted.
SUVCE it costs no
more to have the'
style and refinement
. of Earl & Wilson qual-
ity, why not have it?
(pilars -flirts
EARL. & WILSON TROY.N.Y.
IlllllllllllllllllllllllllllllllllllllltlllllllllllllllllllllllllUllllllllu
Steady Persistent
Saving
is important not alone for the
material results, but for the less
tangible moral, and spiritual re
sults. The habits ot clear judg
ment, of thoughtful looking ahead,
of planning for investments, are
ones that make for strength of
character..
. As an incentive and assistance
to saving, nothing is better than a
home savings bank, kept in a prominent place. The one illustrated holds
all sizes of coins, and also bills. Bring it in -once in a month or so, and let
your money draw interest. .. .
LADi & Tilton Bank
Oldest
in
the Northwest
L MlMBtR 1
CFEDRAl RSRVT
' Washington
and
Third Streets
i.
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KODAK !!
'Wj ' rr'arn. Yciuir'
(iilwTLn ran ri2.
. 4 I m S mm
ill
COZY
DAIRY LUNCH
& CAFETERIA
323 Washington St. (Near 6th)
Choice Boasts, Steaks, Chops,
Chicken, Fish, Eggs, etc.
15, ZOt, 25
KICH HOTCAKES
CRISP WAFFLES
and all short orders, any time
.of day or night
Excellent Chicken Dinner Sundav
Stanley Myers
For District Attorney
Paid Advertisement. '
Phone your wank ads to The Orege
niaa. ALala 7070, Automatic 0-9a