THE OREGON DAILY JOURNAL. PORTLAND. WEDNESDAY, MAY 19. 1820.
LESS CONSUMPT 0
N,
MOR
PR0DUC1N
URGED BY HARDING
Bjr John Gleissner
Uoitad New Staff Correspondent -
Washington, May 19. Production
must be stimulated, "further credit
expansion checked and healthy
liquidation effected If the country
Is to avoid difficulties, William P. O.
Harding:, governor of the federal re
serve board, told leading: banker
conferring here. Tuesday on the
credit situation.
The bankers, comprising members of
the federar advisory council and the
"class A", directors of the 12 federal
rtserve banks, adopted a resolution In
dorsing Harding's views and agreed to
carry into effect measures he recom
mended. MUST COOPERATE
Harding said that credit expansion
which has taken plice Is neither exces
sive nor alarming, when viewed from
the standpoint of war necessity.
."The continued expansion. however,
which has occurred since the floata
tion of the Victory loan last May. in
the face of decreased , production of es
sentials. Is one of the disquieting fea
tures of the present situation," he added.
Harding said the public and banks
must cooperate to produce more, save
more and consume less.
"Whatever personal sacrifice may be
necessary for the general economic good
shoufd be made," he said.
HE PLY 18 PROMISED
"The banks should iean less heavily
; cm the federal reserve banks and rely
more on their own resources ; unneces
sary and habitual borrowings - should
be discouraged, and the liquidation of
long standing non-essential loans should
proceed. Drastic steps should be avoid
ed.. Too rapid deflation would be in
jurious." v
The bankers gave consideration as
' well to 4he subject of speculation. Adop
tion of a resolution decrying the present
tendency toward "wild catting" in all
lines was considered. It was determined,
however, that instead of this a response
should be made within a few days to a
senate resolution Inquiring 'What plans
.the reserve board, had for deflating cur
rency and checking speculation.- This
response will outline policies in con
crete form. '
OUTPUT DECREASED
A committee named by tne conference
will call during the day on the interstate
commerce commission to present recom
mendations dealing . with - railroad . fi
nances. They will tell their views on
the difficulties roads are having In ob
taining money to mate new extensions
nd purchase equipment. . . , .
Harding cited figures, which he said
showed a falling off of at least 10 per
cent In the actual output of goods In at
least 10 Important lines.
"It IS this tendency of production to
decline, particularly in some essential
lines, which constitutes a very unsatis
factory element in the present outlook,"
said Harding. "It is evident that the
country cannot continue to advance
prices and wages, to curtail production.
to expand credits and to attempt to en
rich itself by non-productive operations
and transactions without fostering dis
content and radicalism; and that such a
course, if persisted in. will eventually
bring on a real crisis, j .
"If It shouia - prove j Impracticable In
the existing circumstances to Increase
essential production, J tnen we must,
through economy In consumption and
through moderation in the use of credit,
attempt to obviate it. j -
"Our problem, therefore. Is to check
further expansion and to bring about m
normal and healthy liquidation without
curtailing essential production and with
out shock to industry; as far as pos
sible, without disturbance of legitimate
commerce and business, f .
"While the problem jof credit regula
tion and control Is national and even in
ternational In Its scope, yet in the last
nalaysls it is merely an aggregation of
Individual problems, land, the proper
working out of the situation must de
pend upon the public and upon the banks
which' deal with the public
"The public must be made to realise
the necessity of economy in expenditures
and in consequent demands for banking
credit. The banks themselves are best
able to impress the importance of this
policy upon the public.
"The federal reserve banks may., be
depended upon to do their duty to the
member banks and the public, but to ac
complish results the banks and the pub
lic must do-their part in accelerating the
process of production and distribution
and in restricting waste and extrava
gance." ' I . ' ' j : ; - - '
VILSONASKEDTO
LEAGUE
CONVENE
! (By Cnitad News.)
London, 'May -(The League of
Nations council, in session at Rome,
has asked President Wilson to call a
meeting of the league In general as
sembly In some European city next
November J " '. J i . ,.
MBy United Jfewn.)
Washington, May 19j President Wil
son will accede . to the request of the
council of theLeague of Nations that! he
call a meeting of : the league for next
November, officials predicted.
. While It -was said participation of the
United States would not be possible be
cause of the senate's repudiation .of the
peace treaty, it was pointed out the
president as an Individual and not as, .an
offlflal is designated by the league cov
nant to call the session.! This, it was be
lieved, would remove any objection aris
ing out of the confused position of the
United States in International delibera
tion, i : I - " ;
This country would probably be. repre
sented at a league meeting by an ob
server, it was said in the same way it
was at the San Remo conference of the
entente premiers.
Vote 86 X Whitoombj Walter D.' ' "If I
am nominated and elected, I will during
my term or on ice appiy my business
training and experience to the state's
business. Believing that all questionst
nave a ngni, square ana jum Bias, x win
conscientiously endeavor to determine
that side of each question, and, when
satisfied that I have determined it, I
will, without fear, or favor, give It my
unqualified support." i Quotation from
statement of Waiter Q. Whitcomb, Re
publican candidate . for state senator
from Multnomah county May 21, 1920.
Member Whitfield, , Whitcomb ft Co.,
certified public accountants. Paid Adv.
by H. C. Fixott.
Tha last word In modes I from "The Faihlon-
it" in June 8UX3ET. Ad.
WITNESSES LIED,
SAYS PASTOR; IN
E
DAMAG
ACTON
By Cstted News.)
Fond du Lac, Wis., May U.
The Bev. G. C. Gerlach, pastor Of a
church at Rosendale, a nearby vil
lage, branded as lies a score of sen
satlonal charges made by. witnesses
heard Tuesday in the 110.000; slander
suit he has brought against Frank
Gruett, president of the. Rosendale
Telephone-: company. The minister
charges Gruett with writing letters
about him which have damaged his
reputation. -i- : - J
Witnesses, fpr the defense charged
that:.,; : . ; . , j? ' ;.i ? ,-
Rev. Mr. Gerlach bad "acted up-be
fore three old maids in the Rosendale
postoffice." . - ; t - . i "'.''
Ha had taken Laura Gransee, the vil
lage telephone operator, riding in his
new Ford, during which time she sat on
his knee.
When the minister and' the girl' had
alighted trom a train after a trip and
he was asked If she was then his wife,
he had ' said : J t'
: "Sh-h-h!" :' " : .., ;
The Gransee girl was seen coming out
of the front door of the church and, Rev.
Mr. Gerlach out of the back door when
there was no service. ' : ; i '.
Miss Gransee gave the witness an. ex
hibition of how the minister held her on
his knee, it was testified.. He is mar
ried. : - ' . - i: ' ! T
He advised Mrs. Herman Stlndt when
IU to "take a drink" of brandy."
He came to Fona ou Lac. for the single
purpose of having his fortune told.,
VOTE fX 1158
CHAS. N. RYAN
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BEPCBLICAX FOR
CONSTABLE
, (Paid Adv.)
Republican Women -
..Vote Hunters Hoot
Hays Off Platform
Washington, May 19. 13. P.) Telia
of "what are yon going to do about Pel
aware?" greeted Will H. Hays, chair
man of the Republican national com
mittee, when he started to address a
mass meeting of Republican women at
the Willard hotel Tuesday afternoon.
Hays attempted to tell what the Re
jublicans were doing to bring about rati
fication 'of "the suffrage amendment 1n
that state, but the heckling continued
throughout bis speech and his closing re
marks were lost in a din of. shrilly cried
questions - and feminine shouts of "sit
down, mingled with applause and calls
for silence.
Taft Says Johnson
Defeated Already
Helena, Mont, "May 19-(1. N. S.)
William Howard Taft. here last night
from Great Falls to give an address on
the League : of Nations. . said that
Hiram - Johnson hasn't a chanoe at
the Republican national convention. New
England, Missouri, Pennsylvania, Ohio
and other states will give him no del'
gates .Taft would not venture an opinion
as to the final outcome of the presi
dential fight. The ex-president was a
guest of the Unitarian league, of which
he is national president He leaves to
morrow for' Spokane.
Salt Lake IMakes
27.3 Per Cent Gain
"v In Its Population
- Washington, May L N. S.) Pre
liminary population figures were an
nounced today by the census bureau as
fOllOWS: -: I "V-.-"v. 1 '
Salt Lata. Utah. H20 popoUtioii. 118.110:
iaerMM mace 1B1 2S.S03. or 27.8 per cent.
BesBok. Vs.. 1920 popolstioo 60.S42; la.
crwua sine 15.968 or 4S.8 per cent, i
BbiMlsadsr. Wis., 120 popnltion 54: in-
ers. since ItiP, 101T or 18 per cent.
- LmmtHw. Teus.S 1920 popalstma T18: tn-
ertsae since 1910. 5BS er 10.8 per sent.
- West Plains, Mo., 1820 population 3178: in
eiwsas -sines 191ft 24. or 9.1 per cent.
Griffin. G., 19SO popnUtion 8240; ia
ensae since 1910. 72'or 10.2 per cent.
Corinth. Miss.. 19 population 4948; de
crease since 1910 74' or "1.8 per cent.
- - ,
Message Taken to v
- Mean Miners and
Operatqrs Agreed
Mount Carmel, Pk, Mar-19. U. P.)
The following telegram was received here
from the secretaries -of the - three an
thracite districts ;of the United Mine
Workers of America:
Tri -district convention will , be recon
vened at Wilkesbarre, Pal, Monday. May
24. 1920. Official palls will be sent out
later. Local unions will proceed to elect
delegates." : . ..
- This was Interpreted here as meaning
miners representatives i n conference
with , the operator? in Washington had
reached a new agreement on a new wage
scale which would be submitted at the
district convention! , ;t :
j. Minor-Causes Man's Arrest
Astoria, Or.,. May 19. Charles ";A.
Heath, aged 80,' was arrested Tuesday
and is being held by Chief of Police Carl
son Awaiting the arrival of the sheriff of
Grays Harbor county, Washington, who
will take him back to Montesano "to an
swer to , charges preferred , by a minor
girt .- '. '
Congress Fixes June
4 as Date for Recess
Washington, May 19. U, r.) June
4 , has been ; decided on as the date
for congressional recess or adjournment.
Although yet undecided there Is a strong
sentiment for a sine die adjournment
ft'hich would mean that congress would
uot come baek until December.
fiet a shock. Read "Kins Kilowatt" in June
SUNSET. ad.
I i '
J iv J?w? !
Experience Is a Costly Teacher
All Others Are Underpaid
Vote MiUage Bill 314 X
Yes Friday
The dissipation of Oregon's school lands has surely been a dear experience, but it does
no good to cry over spilt milk and it is now. up to us td see that our teachers are paid a
living wage. ' " x ? L
We hae a great many customers among the teachers and we have seen how closely they
have to shop in order to make both ends meet, while customers in other vocations are
able to buy what the need and want. It is a moral duty to yourselves and to all children
to votejyes on this measure. -. . ' i t
VOTE XI 130
RICHARD DEICH
BE PUBLIC A Jf, FOB
District Judge, Dept. No. 2
OVERSEAS TETEBAN
Paid Adv.)
- . . . ; . , .. . j . - - ... 1 - : .,. . .., T
You gain an advantage in the re
sources, experience,' knowledge and
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The consistent high-quality of Zero
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v users in the ranks of big business who
continue to use Zerolene years and
years after comparative tests b their
engineers.
Use Zerolene for Correct Lubrication.
STANDARD OIL COMPANY
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A. grade Jbr
each type
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The Best in Rubber Goods for Le
We carry the Davol and the Weareer lines of rubber goods,-for we find
them the two most dependable products. We make it a point to give our
customers the best, and for that rekson-we only carry the very best.
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Hot Water Bottles $1.25 to $4.50
i
Crian4-AM t Crrnr-AO 1 tif ? C ff
Combination Syringes $2.50 - $7.50
One and two years guaranteed on I
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KnucKlefit Rubber Gloves, pair 75ci
Whirling Spray Syringes are priced
at . . . . . , . $1.50 - $2.00 - $2.50
Invalid Cushionsall sizespriced
at .......... ... $2.00 to $3.50
Infant's Ear, Ulcer and Nasal Syr
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KNICKERBOCKER BATH SPRAYS
j $2 to $7
Extra bath tub connections and hose.
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RUBBER SHEETING
For the nursery and sick room" in 36-inch, 45-inch and :
54-inch widths. Single faced o'r double, faced, this sheet-
ing is priced from $1.50 to $3.50 per yad. v
ELASTIC HOSIERY .
C. W. White's heavy silk anklets $4.50; leggings i
$4.50; three-quarter hose $5.50.
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WOMEN'S pbesity and Maternity, regular size.. $4.50
Extra size ; ...$5.0O
MEN'S Narrow size .............. V .... 1 .... : f?J rift
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IRVINGTON PHARMACY,
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PERKINS PHARMACY,
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SUMMER EXCURSION
FARES
to
BEACH and MOUNTAIN
RESORTS
, COMMENCING
, Saturday " "
May 29th
Season and Week-End
Tickets
GO VHERE THE OCEAN
ROARS
or
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FARES ON APPLICATION
Far ' particulars inquire of Ticket Agent.
SOUTHERN PACIFIC LfflES
John M. Scott, General Passenger Agent.