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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (April 26, 1922)
0 THE MORXIXG OREG ONI AX. WEDNESDAY. APRIL -26, 1923 IICIHL SYSTEM DFRUSSfACDMPLEX Soviet Non-Monetary Scheme Abolished by Government. GOLD ROUBLE STANDARD New Basis of Value Established to Stabilize Paper Money and , Plan May Succeed. BY JOHX MATNAED KEYNES. (Copyrig-ht by the New York World. Pub lished hv Arr&neemnt. ) GENOA, April 25. (Special Cable.) We In the west are extraordinarily ignorant of the details of the great Russian experiment. Our plans for ' renewal of economic intercourse are vagrue because we do not know what we are dealing with. Unfortunately time occupied by our statesmen in discussing: unrealities is not being employed by our experts in establishing personal contact with the Russian experts. Even when the general principles have been agreed upon a great deal of education will be required on both sides before practical scheme can be worked out. I have tried by asking questions to obtain from Russian experts some elementary facts about the present state of their finances. The an swers given me are very interesting 'ndeea. Ron-Monetary System Abolished. The system of non-monetary econ omy has been abolished in the course of the last six months, although the transition is not quite complete, and some industries, coal for Instance, are still organized on the old lines of the state providing employes with what Is needful and taking the whole product In return. The change was accompanied by the introduction of a regular budget on western lines, in November last, the figures whereof, however, have had to undergo much subsequent modification. In order to avoid violent fluctua tlon of the paper rouble, the financial department reckons in terms of unit they call the gold rouble, but which is really a composite Index rep resenting the purchasing power of the fold rouble In 1913. They calcu late every week the index number of how many paper roubles are required lo buy what a gold rouble would buy in 1213. Terrible Depreciation Explained. The terrific rate of depreciation of paper currency during the last five months is shown by the following .able of the number of paper roubles roquired to buy what one gold rouble uougnt in 1S13: December 1, 1921, 17.000 roubles; January 1, 1922, 170,- "00 roubles: February 1. 420.000 loubles; March 1, 1,060,000 roubles April 1, 2,100,000 roubles. This is explained by the fact that the introduction of the monetary system in industry led to enormous ssues of paper money during the period of .transition; but the issues of currency are now on a much smaller scale, with the result that during the last three weeks the value of the paper ruble has shown some i(fns of stabilizing. The reader must understand that tlie above table is the index of the Internal purchasing power of the i-aper ruble, not of its existing value. There Is no regular quotation for the iatter, but at the end of March the State bank was offering 4.000,000 uaper lor one pound, while the pri w raie in tne illicit market was iwice as high. Even so, we have the unexpected phenomenon that the in ternal purchasing power of the uble is much less than its external purchasing power, which is the op- osite of the case with Germany, Holland or Austria. Further Depreciation Apparent. This doubtless Is due to the strin gent prohibitions on imports, corn Lined with excessive internal dis trust of the rouble due to its castro lhio collapse in recent months. If facilities for importations were in creased the existing rate would de preciate rapidly, even below the rate l ow quoted on the secret market. It should be added that the above f Kures are for the old paper rouble. T iiis has been lately replaced, how ever, by a new rouble, equivalent to :i'.O00 of the old roubles. The reform is described as re-de-numinatlon. so that on April 1, 210 of i lie new rubles were the equivalent "t one unit of the told rouble index. i;y this re-denomination inconven iences of astronomical magnitudes in i lie daily life of the people are i. voided. Plan May Itextore Stability.' It certainly appears that the proj eet of stabilizing the paper rouble at : l ine value is not more formidable tlian In the case of many other cur i ncies. Who knows but that Russia n ay not give us a final surprise by . ing the first of the European belligerents to stabilize her money? In some ways so complete a col iapse will help her, for old money is iped out and nobody in Russia will i'it off devaluation in the vain hope ot' return of pre-war value. The precedent of revolutionary France is in her favor, where the final collapse of the assignat was i wmediately followed by the return io a stable gold standard years be fore the Bank of England, with the burden of Its existing notes to re i.eem. thought it safe to follow the x ample. i:nS. MARY A. GRANT DEAD .Mother of City Attorney Passes After Long Illness. After an illness of three years, Mrs. Mary A. Grant, mother of Frank S. rant, city attorney, died last night, l uneral services will be held at the ortland crematorium chapel tomor row at i:30 o'clock. The body is at tie Finley mortuary. She is survived y three sisters and one brother. In ;..;dttion to her son. They are Mrs. ; .iraU C Hotchkiss and Mrs. Lydla M. Brown of San Diego. CaL; Mrs. I.acbael McKean of Sanborn, N. D.. nd Hugh Minnimiss of Sugar City, olo. Sirs. Grant was born In Meadville, I'a, December 25, 1S45. Her husband Frank Li. Grant, died 31 years ago. : 'e came to Portland one year later s rid had lived with her son ever since. he family residence Is at 355 East t ourteenth street. Mrs. Anna Borland Bead. Anna M. Borland, who died In this city Monday, was 91 years old and l ad been a resident of Portland for the past 17 years. She was born in Pittsburg, Pa., April 17. 1831, and Is urvlved by her daughter, Mrs. w. W. I uijan, and three grandchildren, W. W. Dugan Jr.. Anna M. J. Agnea Lugaa. il residing; in this city. I SOVIET Mr" - XE& V:4N Photo Copyrighted by Underwood. LEFT TO RIGHT, IilTVONOFT', VORElVSKlf, JOFFE, GE1V. VACHEWSKY AND SL,IWKIJT. This group of Russian soviet delegates to the Genoa economic conference, photographed at Rapallo, is one which Is causine- great concern at the refuses to recognize the debts contracted by the czarist government during government, ana nave used this claim DV1ET THflEATENS POLES PROTEST AGAIXST RtTSS-GER- MAN PACT RESENTED. Soviet Government Intimates That Action at Genoa Virtually Abrogates Riga Treaty. Continued From First Page.) are usually referred to as the pre war debts, the soviet spokesmen asked for a moratorium of 30 years on these debts and the cancellation of the interest, according to the allied version of the meeting. This cancel lation was to apply both to the past and to the period of the morato rium. Finally, the Russians made clear that, in refusing to restore private property in Russia, this would not im ply any surrender by Russian citizens of their rights to hold property in fee simple in foreign lands, "bour geois countries," where the right to possess property went with the bour geois system. Such, said the bolshevikl, were their terms, lut they could only grant them on condition that the powers repre sented at Genoa would first agree to recognize the soviet government and accord it adequate financial help for Its proper economic reconstruction. Hope TSot Abandoned. Under these conditions," said Sir Laming Worthington-lSvans, chair man of the meeting, "we cannot dis cuss the subject further. We must refer this matter to our respective overnments. It was tnen aeciaea to adjourn the sittings sine die. All the experts except the Russians ar ranged to meet today and go over the entire situation. The Russians contend that their general attitude as to making a treaty wltn tne powers a3 been misinterpreted, ana one 01 the delegates charged mat iamiy ranRlations had been maae 01 tneir counter-suggestions last week. n..nitA thA serious outiooa. me heads of the various delegations have t ahandoned all hope. Some, how ever, frankly informed the Associated Press last night tnat mey saw no ntoaihilltv of making an arrange ment witn tne Eoviem uuco mo ter radically . modified their pro- Vhue tne doisiiovim nnvw t, i thnir counter-claims lor UH.iim&o .i,.rl to foreien interventions in Russia, the story went the rounds of the delegations last mgnt tnai mcy will hold the United States morally responsible for the presence of Jap anese troops in Siberia, since the Japanese occupied the territory not nly jointly witn Aoier v t ut actually at the request of the American government. "In that case,- saia one 01 in anese jokingly, "it mo '"" hand us a bill, we win nave 10 It on to the United States govern ment. IANT CONSPIRACY SIGHTED Count Tolstoy Protests "Evident Plan of Allies." wisHixnTON. D. C, April 25. The Russian people will never accept the "evident plan of the allies at Ge- oa to partition uussia inio tuiuu. f the European nations, probably in- i.,rtioe- Germany. Jounc iiya mi- stoy declared in an address today at the City s ciuo wriuu muvu,. Such an attempt, ns aooea. wouiu ring greater danger to tne luture. and he advised America to .ep hands off and recognize any n ion .government which will guaran- ee security to trade, labor, property nd personal rignts. Lenine, Btinnes 01 ucnrmnj, anu Lloyd George, whom count loistoy described as controlling mo uesunj of Europe, eadh have plans for the settlement of Europe, he said, but British diplomacy, aimed at captur ing the Russian market, conflicts rith Stinnes aesisna u mm to make enough to pay the German indemnity. Meanwhile, he aaaea. lyenim nopes retain power by selling Russian concessions for loans to bolster up the bolshevikl and to permit them yet to take advantage of a ruined Europe to achieve a world revolution toward communism." "It Is this situation, tne speaker declared, "which has brought about the Genoa conference. England and France know that if Germany gets the Russian market she will have won SPECIAL1 Best Freeh Srhooer 71,. n. HALIBUT -vv in, r A LACK FISH MARKET. 184 Ftfta St. We Give Crccs Stamps, DELEGATES AT :GEX0A CONFERENCE. Ih' ,'iw ,i 'it! conference at present The Russian as a oasis lor trying to ootain otner the war. . So now the plan is to "ap portion Russia's great natural re sources among the allies and to make her a second India. Britain will get the oil wells, France probably the mines, Germany will be given a share to keep her in the plot, and Lenine will get the loans in exchange for these concessions which will keep the bolshevikl in power." Eighty per. cent of the Russian people, he added, were "bitter against the allies and especially against Great Britain," and this, he warned, "spells great danger for the future." PREMIER POINCARE RAPPED British Prime Minister Regrets Frenchman's Speech. LONDON, April 25. Prime Minister Lloyd George, addressing a number of press representatives at Genoa authorized them to transmit an ap peal from him to the British public asking it not to accept etatements appearing in some of the English papers regarding the Genoa confer ence until he had had an opportunity of dealing with them in parliament, says a Central News dispatch from Genoa today. The dispatch quotes him as continuing: "Premier Poincare's speech was a very serious declaration, made with out any consultation with the allies, and is not calculated to improve co operation among the allies. " It has nothing to do with Genoa, but French opinion is undoubtedly being inflamed by misstatements alleging that the British are pursuing a policy of sec ret talks. "It is untrue that I saw Leonid Krassin on Friday, as has been stated. Our policy is tfcat we have no quarrel with the Russian people and do not fear a German-Russian menace, but we are determined to prevent Europe again becoming a shambles. "We want to adopt an open, hu mane policy but the attitude of some delegates towards a settlement makes our work difficult. We cannot con tinue to bargain." Governor Hart Is Guest. VANCOUVER, Wash., April 25. (Special.) Governor Hart, accompan ied by Mrs. Hart and his secretary, Hollis B. Fultz, arrived here late to day. The governor and his party were the honor guests at a reception at the Elks temple tonight. He addressed the members of the lodge and then partook of a. 52-pound salmon caught a few days ago in Lewis river by Ben de Varmon. he ma St 21 Second Are, Seattle. WOOD FUEL IS CLEANEST Costs Less Than Other Fuel. HOLM AN jm FUEL CO. S.' & II. Green spSSl Broadway 6353 Stamps ajjyjji Automatic 560-21 3X envoys originally asserted that Russia the war and later by the Kerensky concrasruiio. juvehtists - to cm YVESTERX OREGOX MEETING TO BE JUNE 13 TO 2 5. Speakers From All Over World Are Expected to Take Part In Sessions. The annual camp meeting of the Seventh Day Adventists of the western Oregon conference will be held in Portland June 13- to 25, In clusive, ' according to announcement made yesterday at the conference offices, 508 East Everett street. From 2500 to 3000 persons are expected to attend. , . During this period the annual conference sessions will be held. The western Oregon conference includes all of western Oregon, several coun ties east of the Cascades and the south - southwestern counties of Washington. Within Its confines are 50 organized churches and several schools and mission points. The world conference of this de nomination will meet in San Fran cisco in May, and this will bring to the Pacific coast leaders from all parts of the world. One of the re sults will be that some of the most noted speakers of the Seventh Day Adventist church will come to Port land after the close of the world con ference, to participate in the camp meeting here. Usually there are about 300 tents on the camp grounds and last year the attendance was 2500 persons, but this year the record is expected to be broken. Pre-Graduatlon Dinner Held., PACIFIC UNIVERSITY, Forest Grove, Or., April 25. (Special.) The first of a round of traditional events preceding the graduation of the senior class occurred Saturday when the junior class tendered to the graduates the annual dinner. The unique parts of the affair were the absence of toasts, and a song contest in which a girls' quartet from each class partici pated. Prizes were won by the senior girls with an original song. Presi dent and Mrs. Clark, class advisors f nd members of the senior and junior classes, were the only ones present. Orr-heum matinee trday, 1'5-25-50-Ad. Canard Spirit The Cunard-Canadian liners have in appointments and equipment every thing to make your ocean voyage one of uninterrupted pleasure. And there is, too, the Cunard spirit that is carefully fostered and guarded by the Company's officials a continu ous effort to make life on the Cunard steamers enjoyable and congenial. On the Cunard boats you will meet- the best of people and make many new friends. Your entertainment and hap piness is part of the Ctmard-Canadian Service. th-Ctanrd Agemt im yowr towm, or write to CANADIAN SERVICE Phone Elliott 1632. NEW AND BEVERIDGE; CnOTtOIDBYPM Loss of Indiana Is Feared by Republicans. LID PUT ON FAMILY ROW Anxiety Over Independent Vote in Close State Makes Friends of Candidates Cautious. BT MARK SULLIVAN. (Copyright by the New York Bvenins Post, Inc. Published by Arrangement.) INDIANAPOLIS, April 25. (Spe cial.) To a person who occasionally can detach himself and look upon politics as a human comedy of men Beeking taeir ambitions and purposes, there is one amusing- aspect of the contest for the Indiana republican senatorial- nomination between New and Beveridgre. Indiana is a doubtful state as between the republicans and the democrats; and it is going to be rather more doubtful than usual next November. I have not heard republic ans claim that they can carry Indiana this year by more than 50,000 votes, and that 1 a pretty narrow margin of hope for 30 large a state as Indiana. Further-than this the republicans ad mit frankly that at best tney are go ing to lose 'several congressional dis tricts whioh they now hold. These things being true, it is plain that the present senatorial contest within the republican party must be carried on with much care and must not be too rough; republicans must not get Involved in a controversy so heated that the wounds might remain on until the November elections. Anser Is Feared. . The friends of New argue: ' "We want to beat Beveridge, but it isn't any use to- beat him in the primaries if we make so many of his friends angry that they'll take' It out on us by voting the demo cratic ticket in November." Beveridge's friends argue exactly the same way. It is the independent vote that will determine' the final result in November and friends of the candidates must not make any charges that may get the independ ent sore, either against the repub lican party as a whole or against Per Hour Bricklayers $1.10 Plasterers 1.10 Stonecutters 1.02 'z Stoneplanemen . . , .82 Vz Must Be Union Men Plenty of work for good mechanics only. Write or Apply Empire Construction Co. 218 North Clark St. Chicago, 111. Wante Per Hoar Carpenters $1.00 Lathers 1.00 Painters 95 Plumbers .'. . 1.02 Vi Slate and Tile Roofers ....... 1.00 Tar and Gravel Roofers .92 Open Shop Only experienced mechanics wanted. Apply by letter. Empire Construction Co. 218 N. Clark St., Chicago, 111. Depression From Flu Overcome Milk Wonder -Worker in Treating Nervous Wrecks Health four weeks away. Thousands are suf fering from the bad after-effects of this dread disease. The great majority of - these patients can be restored to won derful health by : spending a few weeks on the Milk Diet Treatment in our Sanitarium. The Moore Sanitarium S2S Hawthorne at 27th. I Wanted I High-Grade Family Automobile Only $725 Hudson super six, like new, has been rebuilt and repainted. We sell these rebuilt Hudsons with s warranty same as a factory war rant on new car. We also give 90 days free service. C.L-Boss Automobile Co. BOTH STORES: 40-46 North Broadway 615-617 Washington St. 1 " whichever one of the two senatorial candidates may win the primaries and be the republican standard-bearer. This inhibition on the ordinary freedom of action in a thoroughgoing political row turns up again and again. Every once in a while when the fight seems about to get good and Interesting at the precise moment when some one reaches out for a particularly heavy brick with good sharp corners, some cautious killjoy says: "Careful, there, boys, go slow. Keep off the poison stuff. Remem ber this is just a family row." Party Workers Worried. The same argument puts the men who compose the organization throughout the state, the party work ers and precinct captains, in a most unhappy and irresolute frame of mind. The party workers want to nominate the best man. What the party workers mean by "the best man" Is the man who is most likely to attract the largest number of votes in November, especially Independent votes and democratic votes. That it what the workers want in November, a final outcome that will keep the state republican and keep them in their local political jobs. Trying to come to a decision about this worries the party workers a lot. It worries the candidates, also espe cially New. New and New's friends know that under the circumstances the great bulk of the regular party workers would be for him. But the party worker, especially one whose bread and butter are dependent on the state staying in the republican column, is a cold-blooded person with an eye that never departs from the main chance for No. 1. Fight Not So Savage. A good many of the party workers argue that Beveridge, just because of the record of Independence that makes him odious to them, is for that very reason especially acceptable to the Independent voters. They argue that maybe by giving the senatorial nomination to Beveridge they could Your dollar buys more coal in the Spring .tL fl6" IJjHg 1 19 2Q 21 lET IT I ' fsUh -viSi?. I- it fc'ii r-in" TiiViAMiTiaiMs-1 -nysg-iai inii-iii rtiy.liim ir k' mitn-M I OUT ' COUl DUIS will Year in and year out coal has always cost less in the spring. Your coal dealer knows it; your coal bills show it Arcola, too, costs less now, this month, than ever before in its history much less than last falL To take advantage of that low price Telephone your Steamfitter today Arcola means an American Radiator in each room no more cold rooms; no more spotty heat It means better health for the children, for it gives the same healthful radiator warmth that florists insist upon for their delicate flowers. And it pays for itself in the fuel it saves. Arcola Saved these Coal Dealers One-Third 'About a year ago we installed Arcola. Formerly we used two large stove which required constant attention and gave us poor service. Today we have uniform heat and the saving of fuel was a revelation to us. We are not using as much coal by one-third." Murphy C$ McMullen, Coal Dealers, Dayton, Ohio AMERICAN RADIATOR COMPANY Ideal Boilers and A2dEBJ(iA7Bdiatorsforevery heating need 1219 Fourth Avenue Seattle, Wash. ItlM 00100 lillill "li attract the largest number of Inde pendent voters in the November elec tion to the republican ticket. It's a worrisome situation, and th3 hesitation between what they would like to, do and what they think they'd better do is causing an aggregate loss of sleep great enough to give a good night's rest to a whole men agerie of Alaska bears. It is for this, among other reasons, that the fight up to the last few day at least, hasn't been ae savage as the real feelings of the partisans of the two contestants might make It if they felt free to express themselves fully New has followed the policy of stay ing at his work in the senate until these last two weeks of the fight. That was first-class strategy for him. Some of New's friends kept urginr him to "come out and put some pep into the fight." But New was wiser. New is, in fact, one of the shrewdest politicians of his time. He knew tha' he had everything to gain by keeplnr quiet. Beveridge could only win by "starting something." Opposition from New and New's presence in the stati would only help Beveridge get started New with Administration. Moreover, staying in Washington helped to Identify New with the Harding administration, and identifi cation with the president is New's best card. If New wins, it will be chiefly for that reason. The republican voters of Indiana are not thinking about !ew'i personal record in the senate. It happens to be a good straight republican record; but all that the republican voters know or care about is that they have got the impression that New prac ticed teamwork with the president and stood with him on the four power treaty and on other matters. That is New's best asset. Many of New's workers are frankly basing his campaign on the plea that he has "stood by Harding." Beveridge's campaign has been something novel in politic!". He hasn't done mucH of what would be called A P FLIX jLL im i,i mi.t,j im i.ii iii you-insf all ARCOLA art 16 V V o One-third of your coal bill is worth saving; get an estimate on Arcola today FREE Telephone your Plumber or Steamfitter for an estimate; it costs nothing. And drop a card to the address above for an Arcola Book. It is also free. straight political campaigning. He has merely gone up and down the state making speeches for the nvt part on non-polttiral subjectn. He comes into a town and makes a speech to the local bar asuociatlon on John Marshall. Then he gues around to the local high school and talks on "The Art of Public Speaking" finally, on Sunday afternoon he talks at the church on the "Bible as Literature." Bevrrltfjge's Cama-alaa NeveL To the regular politicians who com pose the bulk of New's strength there is something disturbingly novel about this method of Beveridge. It is some thing unprecedented in campaigning It isn't quite regular. It may contain possibilities of vote-making that they can't figure out. They aren't sure but what there Is something subtly Machiavellian, something a little out side the rules, something almost Im pious about It For Beveridge. Of course. It Is the best sort of campaigning. It gets his message to the kind of people he must depend on he Is to win. The ordinary political methods would not serve him at alL Beveridge's great asset is his capacity to do juat the thing he is doing and moat well, lie will win, if he is to win. on his per sonal distinction, hs past career as a distinguished figure in public life, and his present career as a literary man. Indiana is a state that admires that sort of distinction. Clatsop Voters Total 6909, ASTORIA. Or, April 25. (Special.) A compilation of the registration In Clatsop county for the primary elec tion next month was completed at the county clerk's office today. It shows that 6909 voters registered, 4.r21 being males and 2388 females. The regis tration in the principal parties was: Republicans, 5272; democrats, 1319. Orpheum matinee today, 15-25-KO-Ad. Ornheum matinee today. 1i-2f-Ml-Af1. ft ttrvyjJM Jtdaiti ft I ill 1 1 HI .Si V