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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Jan. 30, 1921)
i 1 1 J- j mmm 10F SETTLEMENT WINS AT PARIS Agreement on German Rdpara f tioni 1$ Victory for .Yankee . J Idea: of Fixing' Definite Sunt. '.---" ' '( ' 5 '-' 1 4 - " .. r - -j iBy David ltwrrncei-1 ' (Coyrict. mibyTbft Journal) . SWashinstow, ; Jrt, '3 2 'Victories ae sometime belated but J history rordij them om "'.the 'V less. "A11 "Vashirtgtort is pleased over'.the fri ts giph at Paris of the American Idea or fixing .-definite sum tha.t.Ger- many should Fay,. repartition, for . lf dima'f."' ?;"" ; v'r" ;v '.: f. i'ot month; the American 'financial commissioners at Paris foughtfor the filing of a . definite ram, -but both rme Minister Lioyd George and Pre mier Clemenceau were afraid any sum that might be fixed will be disappoint infc to their peoples and they them selves be swept out of political power. president Wilson admitted before' the - sejiate fore.ign relations committee at the WW tie House that the failure to fix inBemntty to.be paid by Oermany was n international secret," and Senator B$rah aid not -press him for areply. ppourcEas feci peiaT American eetlon-growers and wheats-rowers land manunaeturere who have b$n clamoring? for foreign markets hate rot been able to sell their roods be CiCise European money has been de preciated fit value. ' German markets hve been Of doubtful value because the worth of German money has fluctu ated so miK-h. - With -the fixing- of the Indemnity the Germans will have a dHrrtte goat They will know exactly what amount they are mortgaged, and wtjth their opportunities will be enabled to rise) above their Indebtedness. Indeed.! Sis ixroaTAST the far-reaching Importance efj the agreement at Paris of the allies not exaeffcrmira nere. woer motn. everybody .believe the fixing- of the in demnity lis th biggest event that ban happened since the peace treaty itself wis signed. I - JThe world-wide business " depression has been traced' 'by economists directly tqf the financial uncertainty - that hov ered over Central. Europe. Not know ing hoW. big a load they were obliged to. carry, ihe Germans could' hardly rnkke future plana Internal political disorders always thrive when, there is ViCtueness and- Indecision in the central goS-ernment. - jThe' American financial commissioners at Tarts. Norman Davis, who is at pres-' r under secretary of slate ; Thomas W. . Iatnont j of J. P. Morgan & Co., and 7 Vines sfcCormlck and Bernard Baruch, Insisted Ithat the allies fix a term of 30 years, f he reports from Paris indicate that thel allies' are Willing to Stretch It . to. 41 years. The American advisers dlln't suggest a specific sum. Though it Was commonly reported that they fa vdred ItO.OOO.OOO.OOO, Paris reports say ti indemnity will be fixed at $55,000, OljB.OOO. j. PROBLEM NOT SETTLED ftut like vital fact is that the allies at last have accepted the principle of the '-.Aftierlcan commission, namely, the fix ing of a maximum and minimum of some kQtid. with a definite term of years. Of course eur officials have only read the newspaper reports thus far, but a per sonal ranvaas of the various, men who . ktow the reparation question both 'from aShanklnjr standpoint as well as our own KvernmenVconnection with It, lcada to the canctoslon that the problem -Is by no means settled. , A start has been ; made. The allies have agreed among themselves, but when they approach the Germans it is certain the latter win show the futility of imposing each a large rum aa $55.00, 000.000. And the Germans wUI find con siderable support in the United States for . their view. Tbe allies will natur ally : have a good deal of respect for American- opinion, - for it is no secret that as soon as the Germane -give., the allies bonds to the amount of the in demnity the allies Will endeavor to use those reparation bonds ate collateral for foreign loans they may. wish to place In the United States or as part payment of existing war debt. 3TO EPAATIOjr BONDS i But at this Juncture it Is opportune to reveal to ail concerned what is in the mind of the Wilson administration and What will be in the mind of the Hard ing administration for there in no sub stantial difference, of Opinion between Republicans and Democrats Oh this point namely, 1 that i America will not accept any reparation bonds .in exchange for government loans, , nor will Ameri cans generally buy reparation bonds as an investment until -the United 'States is satisfied, that the j Germans can pay the amount imposed. In any event, con servative opinion here is that; Americans will wait anyhow at least a couple of years- before, buying German reparation bonds as ah investment. ' HOW FAR vflliL PKASCE GO! . Back of the hesitancy which is re flected in official as well as banking circles. Is a doubt as to how far the French mean to go in regulating Ger man affairs.- The more or less Offi cial view here is that the French have already gone too far for their own srood in holding a military club over the Germans and Interfering with their op portunities to get raw materials that are. requisite to manufacturing. There Is genuine sympathy here ror the French, but a considerable differ ence Of opinion as to what is best for France herself, economically speaking. Bo while the fixing of the indemnity is expected to relieve the European situa tion somewhat and. start a revival of business. America as an impartial ob server will not be reassured as to the value of the agreement until she knows absolutely that the Germans can 'pay the Indemnity demanded. There is no disposition here to favor the reduction of the indemnity out of any particular consideration for the feelings of Ger ms ny, but It Is a cold economic propo sition of capacity to pay ana our; ex perts have thought and still think that 136,000,000,000 is too; much and that, the Germans- will never be able to pay ft. GERMANS AHGERED STi BY FIGURE ASKED , .. ... . (Continued Fhm Pure One.) so remarkable an exception, then let them come and run the cquntry and show ; us how they can do something in Germany, which, they frankly admit they cannot do In their: own country,' -. PREMIER'S FLOP SURPRISES The most bitter disappointment of the Germans la the reported flop of Premier Lloyd George to the French side. Tester- day the German press reatured Uoyd George's opposition to France's "rapaci ous demands,' and; in so-called pro-Brit ish circles of the Wllhelmstrasse govern ment hitberto disposed to feel justified in their leanings toward Great Britain, with which atitude the conservative press has disagreed. iand often turned re proaches Upon fthe government, today there Is blank-flJnasemenfc 'Those quar ters are by the ears over the report that Premier Lloyd George agreed to the re ported figures. $115,000,000 EXPORT TAX , WOULD BE YEARLY ADDITION By joha Be Gandt United Prom Staff Correspondent Paris. Jan. 29. Germany must pay 226. 000, 000,000 gold marks, normally about ISs.tftO.ftOO.OOe, in war reparations, the allied suprenw council decided late today. " '.; Payment of " the indemnity will ; ex tend over a period of At years, on the following graduated scale s - ? First two years. l.oeo.eoO.OOO marks annually. ' . ' 4- . Next three years, J.ooo.000.000- marks annually. : ; Next three year, 4,000,000,0 marks annually." : -"';-" '"-J-.- Next three years, 6,OO0.OOO,eo fnafas annually. Next Jl years, 6,0O0,000,00e marks annually. In addition the Germans must pay a tax of 12 per eent on their exports. The total value of their exports in their best year before the war was about ,3. 500,000,000. Their decreased industrial capacity, added to the lose of territory, probably would cut this down to at least 11,000.000,000, perhaps much less. On a yearly export of $1,000.000, 000 they would have to pay a tax of $125,000,000. ? ; The financial conference at Brussels will reopen February 7, but the repara tions terms trill not be officially com municated to the Germans until Febfti ary 28. wherf they will be invited to a special Conference In London. . - .The agrement, which was signed at 5:30 pi m.. Included a protocol providing for German disarmament In successive degrees, in portions extending to March 15, April 16 and July 1.T Penalties for non-fulfilment of the disarmament clauses will include disbarment of Ger many from the League of Nations, oc cupation of the Huhr industrial district and continued Occupation of the Rhine land. Prernier Lloyd George will leave for London tomorrow. Premier Briand, after the conference at whlct the agree ment was reached, told ' the correspon dents that the supreme council waa in complete agreement. ; . -" Despite Lloyd George's statement, it was known the; council narrowly escaped adjournment-without a decis ion. ..." Premier Briand. fearful that lighten ing of French demands on Germany would resujt. in overthrow, of his new cabinet, persisted from the opening of the session on a program which would compel Germany' to pay her limit over a period of JO years. Finally yielding to '- British demands that the ' indemnity be - fixed, Briand named a figure regarded by the British as absurd. . Lloyd George then threat ened to return to London. Private con ferences then were . arranged and an agreement reached on the principal finally ' adopted. The council discussed numerous subjects, leaving several Of them to be considered at, another meet ing to be held next month in London. ROAD ROCKY, BUT WE'LL WALK IT, SAYS MINISTER . Berlin. Jin. 19. (U. P. Germany will not 'default' On payments demanded by the allies. Minister of Finance Wirth de clared tonight. j , "Bankruptcy Is politically and finan cially impossible for ils," he declared. T- ttrmiM Bti1t In nf il rhAflfl. and OO ifc .x-.... ... " ' - German government would pursue 00 suicia&i a course. rrkA Minlaiap Kail KfnrA lSfm nrAllml. nary reports of the allied commission on reparations provHiingr ior neavy- an Mial nttwrnAntea Trs AX VMrfl. "Germany has a rocky path to trav el," he said. "Deficits In government branches, in the railways ann tnese enormous demands the llies Will try us to the limit. But we are seeking ways of paying, -not defaulting." GERMANY CAN NEVER PAY SUM, DECLARES VANDERLIP By Harold T. Jacobs United Piths : SUtft t3orniH.itft New York, Jan. 29. "Germany , will neVer be able to pay the war indemnity .fixed hy the allies," Frank A, Vaiiderlin, international authority on economics, de clared in an interview tonight. In an interview with the United Press, Bernard M. Baruch predicted that if an amount were fixed "within Germany's capacity to pay," American 'industries would respond Instantly as a result Of the reopening- of the world markets and unemployment 'would be Quickly wiped out. - gjiiii8iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiitiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiinmimi f WhyG o to the Jones-es? When you want to her the music 'of the world's greatest artists and composers, or dance to the new popular airs, why not do so in your own home? Through1 the years to come a phonograph will prove a powerful magnet in holding the family together. THERE'S A COLUMBIA GRAFONOLA HERE FOR YOU AND YOU'LL NEVER REGRET HAV ING BOUGHT IT This very popular style we can' recommend highly. Finished in red mahogany, English brown mahogany, American walnut, golden oak, early English oak, fumed oak; has compartment for 75 records, and equipped with the wonderful non-set au tomatic stop. A combination at $127.25 in cludes 14 selections (seven 10 inch double-faced records of your own choice), 500 needles, record cleaner, etc. : ALL FOR $127.25 This Grafonola is very lafge for the price and is of a design that is very pleasing to the eye and one that will perfectly harmonize with aJmost any design of furniture. '.-. i- x " " ' ' 'Hmi f j " ; l fj ' :; ' ..' O O - " : I: COLUMBIA GRAFONOLA TYPE E-2 Bush & Lane Bldg. "The House of Harmony SISTER OF SLAIN . W TO TESTIFY .PEE MS Woman Accused of Murderin V Millionaire Denton Hold$ Con ,i . ference With . the Witnes.es. ' Los Ahgeles, Jan. 29. (I. K. S.) Twenty morp witneaeee, including e. lter and the daughter of the slain man, Wilt be Called by the proseca tiotr het week before the : evidence against Mrs.' Louise Peete, 6n trial for the murder 6f Jacob C. enton, i completed, it was officially an notifieed at the district attorney' of fice late today. -.;; '-.',' ' There was .no session of the trifl to day and Mrs., Peete passed; roost of her time sewing and checking evidence given by the state this week. WOMEJf TO tesflFT A secret conference between Mrs. Ida Oregory. . her daughter. ,Mjs. Maude Gregory and Publio defender Aggeler. representing .Mrs. Peete, was held to day. Preparatory to the calling of -the two, women, brought here from tonver as prosecution witnesses, to testify in Mfs. Peete's behalf. . - , s Aggeler :- met Mrs. Oregory , and - her daughter at the place where they were kept in seclusion by the district attor ney's office from the time of their ar rival until their appearance as prose' cuttow -wltnessea. In conferring with the Denver women Aggeler acted on the order of Superior ; Judge Willis, who instructed them to remain In Los Angeles after they bad testified for the prosecution, and to testify for Mrs. Peete if the - defense needed them. . CLAIM DAHAGIX6 ETIDEXCE : - Damaging Admissions said - to have been made by Mra peete in a battle of wits With Chief Deputy tHstrlct At' torney Xoran and TJeteetive Charles Jones, the officer who brought her here front Denver, will be told front the witness-stand Monday. Jones- wilt disclose the third chapter of -, the "Spanish Atn" . story. In which Mrs. peete is said to have told him that ff lends of toe woman killed Denton after Denton - had shot - and wounded the woman at . the Catalina street "murder mansion.' . , Dorari wiir introduce t the - much -die-cussed statement made by Mrs. Peete soon after her arrival . here from Den ver; Aggeler if - expected to fight the introduction of this statement on the ground that Mrs. Peete Wae deprived of her legal rights when It was made. LEGISLATORS RARiN' TO GO ON NEXT LAP CoOiStil From Pace .) one house Of the Other and either have been i eent to the eommittees w will be on Monday when that order" of business is reached. From now on the grinding toil Of the session commences' the long stretch when harassed committees labor by night and laboring orators fill up the day, whe trades are made and feelings are hurt, when' words get abort and tempers grow, brittle. . V. Reapportionment, without much doubt, stands at the head of the list of trouble makers. The mere mention of it started a scrap In the senate and filled the house with , heated', words, y , The appointment of. the joint commit tee has not Quenched the embers of sec tional bitterness by any means. NO matter what the action of that commit tee may be it will breed a battle that win rock the session, for the very simple reason that new members may not be given to- one district without taking old member from another a situation that Will. make the committee damned if it doe and equally damned if It don't. The' roads and highways situation1 is also brooding above a breach between the executive office on the on hand and the highway commission and roads and highways committees on the other. The governor has set his heart npon the repeat of the quarter mill road levy act and -the appropriation of the money it has heretofore given ; to the road fund for the reconstruction of the state train ing school, and for other Institutional tise, v. -y--. HOC ABB fCABEl; - The highway commission insists that this would put the road financing pre gftm close to the rocks, unless other and equivalent revenue is provided, and the highway committees seem more In clined to listen to the commission than to th governor. It Is history that It requires bat a small excuse to put the legislative and the executive branches of the government at loggerheads, and there are those in the present session who have been waiting for the governor to do something1 to jostle the chip upon their legislative should era ftoad legislation, generally speaking, is making proftfesa The leglsaittve eorri- mittees and the highway commission have been and are working in har monious con junction, with the commit tees shewing an evident desire to follow tBe suggestion of the commission as to legislation needed. Out of the aonfer eneea will probably come a radical revi sion in automobile licenses, and very likety an added tax on gasoline. jtat potnttm ASTE It may be, too; that the one mill mar ket road et will have Its ante doubled. Two or three btng are pending' to repeal the gasoline gravity test law and substi tute the government boiling test plan in its ateed. Senator Haifa bin to com mand the fmmedtate eonstrsctiow ef the Rooeevelt highway Insofar as the 3,$00. 000 of bonds carried In the contingent act of 1919 would complete it doe not seem to be getting ahead, t and may be amended td- provide for resubmission to the peoplf st the next election The ways and means committees are grinding along night after night with the members contending that the per eent tax limitation will hv no (errors for them by the time they are through with theif carving; . v i--;- . ; Gordon's promised income tax bill has mad It appearance irt the house, while tt fs expected that before many days the suggestions of the governor's committee that a commission be appointed to estab lish an income tax basis and report not later than January 1932, will be put Into legislative form and sent to the senate. The eolation ef the income tax problem will be one ef the hard knots for the session's untangling. BOSCS BILL PEKDISO . The bonus- bill, tod. Is in the house waiting for the committee to begin its consrlderatlonv . The measure providing for the reor 'gsnlsation of (he state engineer's depart ment, and the elimination of Ptey cup per as state engineer. Is a fight breeder, and is ready to be taken up in commit tee. '';-":' -- I Representative Miles logged off land bill is also on the way. as are the measares providing for tne regulation of municipal bond sales, for the abso lute separation of the fish and game de partments, fer the fish code, the game code, the Korblad bin regulating purse seines, the Bennett bill declaring state ownership in the beds ef meandered lakes, the free textbook btlts. the pro hibition .measures, and .a whole raft of others hot so full of dynamite or of general public interest, FOBT BILL LOOMS The Port of Portland bills are sched uled to start the week's 7 fireworks, while the Staples teachere" -tenure bill bids fair to trot close behind It with a public hearing and debate Monday eve ning at . S o'clock in the hall of repre sentatlves, at which 10 selected speak ers. win present arguments to the Mult nomah delegation, and the members gen erally, five speaking for and five against the measure. Oordon's tax supervising and con servation cemmisston bill may also be the center of a storm before the week Is over, for it has passed through the trial of a publttf hearing and Is nearlng tK. tiftwa kM it wilt ivnrM from com mittee and onto the floor of the house for final passage. Salary bills are getlng Jhlcker than fleas on a dog, and house and senate leaders are beginning to try to form ulate some plan by which they may be disposed of as easily and quietly as pos sible. ' Altogether things are looking up from the spectators' point of yiew. Additional Stay Urantcd John Basich, ' convicted moonshiner, was given an additional stay of execu tion until March 1 by Federal Judge Bean on Friday, in order that he might perfect his appeal. Counsel for Basich assured the court that no additional time would bo7 requested. Basich was sen tenced to one year tn Jail for operat ing the famous Newberg still. 380 Washington Street 308 Washington Street 270 Washington Street 270 Morrison Street Reductions are final prices are low stocks are plentiful and wide ly assorted. So do not wait. NOW ' is the ' time to take advantage of this great sale. 150 different styles to choose from. 270 Washington St. Store TO BE CLOSED March 1st Every Shoe in This Stock a Bargain. Take Advantage, of This Opportunity to Sat isfy Your Shoe Needs at Prices Far Below 1921 Spring Prices. K1210 Dixie Tie in black or brown kid, turn sole and wood covered French heel. Former price $13.5 Jl10 Black kid ionjue pump with per forated leather buckle, turn sole and kid cov ered wodd'LXV- heel. Former-price 12.50. 1207: New" tongue pump in either black kid, suede or satin with black suede or kid inlay. Made with turn sole and covered LXV heel. Former price 112.50. ! 1217 Gray suede strap pump with imitation perforated tip, turn sole and suede covered French heeL Former price lio.oo. i - lsT.ssk 3M Washington Street SOS Washington Street 270 Washington Street 270 Morrison Street Broadway at Alder Portland Los Angeles San Francisco """"" """""""""'"'""'"niiiiiiiiiiiiimmmiiniiniiinnnmmm.,. .-.s - --p