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Page Two
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COST PORTLAND
FAIR IS GAMBLE
It looks very much as though the
1925 fair idea was going through,
simply because of the popularity of
the idea and the enthusiasm for a big
event in prospect. The idea has
gathered momentum like a small
snowball started from the top of a
mountain, until it has accumulated'
i
such volume that nothing can stop it
Whether as an avelanche it will settle
into something that will be a founda
tion for future growth and prosperity,
or whether it will present a magnifi
cent spectacle of wreck and ruin is
the question that is puzzling many
thoughtful Oregonians.
That it will furnish abundant ex
citement until after 1925 has become
history rto one questions. That all
will love excitement regardless of
the future want the fair to be held
is evident. The idea has made the
big popular hit, and although hardly
the event will be held. The average
hospitable citizen has already written
his folks in the east or the women
of hia family have done it telling
that we will have a World's Fair m
1925 and to plan to come. As an
illustration of how an idea
can spread from the small be
ginning of its original inception by an
enthusiast until by a sort of hypno
tism it possesses an entire community
avid state, the 1925 fair is a notable
example.
But has the taxpayer of Oregon
who must pay the bills, given any
careful consideration of whether
jean afford it? Has he been given
any consideration by those who are
promoting the fair? Has the business
man figured whether there will be
any real help to business or industry,
beyond two or three years of ex
citement and stimulation that are
sight ? Have the heads of our In Jus
tries figured what the result will be
on our ports, our development pro
grams and other heavy undertakings
that must be financed by taxation, and
which may "have to be set aside if we
tax ourselves too heavily for the fair?
It is difficult to find anyone who
has given much serious thought to
the question or its merits. Yet
nearly everyone takes it for granted
that the fair will be held.
Of course, if the taxpayer furnishes
the automobile, the bottle and the girl,
the average fun hunting citizen will
be glad to take the joyride. But what
of the morning after, where the Joy-
ride is over? Has the effect been
figured?
Estimates of cost as prepared run
up into millions. At first there
was wild talk of a 520,000,000 or
$30,000,000 fair. This gradually tap
ered down to $6,000,000, of which
$3,000,000 was to be raised by tax
ation from the city of Portland,
$2,000,000 from a state tax (of which
Portland would pay $700,000 as its
proportion) and $1,000,000 from pub
lic subscription. All this involves
raising $4,700,000 in Portland and
$1,300,000 in the state outside of
Portland.
But even with this main financial
program, the story of cost is not com
pleted. Every county in the state
will have to exhibit, of course, which
means another tax, aggregating con
siderable. Then scores, probably
will
.... ..., tiu imcourag
w to b ready for the 1920 of P"! . f.
fair.' '"Get ready for 1925" w.llb. IJ Ijj af suece. hea
th slogan. Immense additional tax- quoted a . n 0(
ation will be Involved in undertaking
and completing all these projects.
anyone has put up any real money
to promote it and no vote of the people hundreds, of municipal projects
has committed either state or city to be launched, or rushed through to
it, everyone takes it for granted that quick completion if already author-
fe-a
D
FORCED TO VACATE
CLOSING OUT AT
PgilbISc MinctSoim
Saturday, Sept. 17th and
September 24th
Woodry's Entire Stock and Fixtures
10:30 A. M. and 1 P. M. Each Day
Private Sales Daily Until Everything is Sold
New and Used Furniture, Etc., 270 North Commer
cial Street, SALEM, Consisting of
Large safe, cash register, roll top desk, electric wiring, awnirg,
shelving, furniture of all kinds, ranges, heaters, pianos, linoleum,
electric floor lamps, beds, springs mattresses, gardeni tools,
plumbing supplies, harness, and everything else inside the four
walls. This is a genuine closing out sale and every article will be
sold to the highest bidder for cash.
As my lease expires October 1 and the building has been sold, I
am forced to vacate.. I will devote my entire time to the auction
business in the future. Tell your neighbors and friends about
this sale. Space will not permit the naming of everything that
is for sale. !
F. ft?. WOODRY
The Auctioneer and Owner, SALEM, OREGON
mm
Other taxation will be involved to
get irrigation projects in shape to
be sold, or so the land can be soM.
Counties will have to tax themselves
to match state and federal funds for
completion of the whole road pro
gram, for it "would be unthinkable
that a fair could be held without tne
roads being finished. This would in
volve still more taxation.
With the intoxication of the night
before the fair, the public will vote
for anything that means Spending
money. An orgy of public expendi
ture would take place. While people
of conservatism would cry out that
we must keep our feet on the
ground," their cry would be unheeded.
Such is the history of such times m
the past, and the situation wouW be
intensified by the temper of the pres
ent times. For the people have not
awakened yet to the fact that Hie
war has to be paid for and that
all the wild prosperity we had (Tur
ing and following the war was
on borrowed money and that debts
must be paid. It Seems so easy
to issfuo (bonds and spend money
that we all have the habit, a habit
which was just about to be brought
under some control when this 191.3
fair idea got possession of the people,
Certain it is, that unless people with
some financial sense continue fighting
hard against reckless expenditure
during the fair preparation period,
public expenditure will assume stag
gering proportions in Oregon.
Accompanying this public expendi
ture at taxpayers' expense will be an
immense burden visited upon business
and industry, especially industry.
Aside from subscriptions asked for
scores of public undertakings, which
the nature of the times would in
volve (increased budgets for Cham
bers of Commerce, convention enter
tainment funds, festival funds, pa
rades, special exhibits, and many
other necessaries there would be the
exhibits that would have to be put
on by the industries. Each big in
dustry would be expected to exhibit,
and pressure would be put on it to
exhibit. Some would prepare ex
hibits that were very costly, but all
exhibits cost money. All this would
have to be financed.
Then there would be the huge in
vestments for hotels, restaurants and
garages to accommodate the expected
millions. Very little outside capital,
in the light of previous experience at
fairs, could be enticed into this fi
nancing, which would run into mil
lions. The enterprises would have
to be promoted, floated and financed
locally. The garage end of it alone
will involve heavy investment. For
Packards, Biricks, Mitchells and
flivvers will be here by the thousands
per day, if the expectations of the
fair promoters are fulfilled. There
will have to be some place to house
them and provide for their needs.
It is not too extravagant an esti
mate to state that of the corporate
expenditures for the exposition itself
aggregate only $6,000,000, at least
another $6,000,000 will have to be fi
nanced locally for accommodations,
entertainments, conventions and ex
hibitsand it may be that more than
$10,000,000 must be raised locally
for such purposes.
As to the tax part of it. to raise
the $5,000,000 proposed to be raised
by taxation, a $5,000 home in Port
land would be required to nav S47
of state and local fair tax, distributed
over three years, or $15 a year. A
$5,000 farm on, the lufcside would
pay $15 in all, or $5 a vear. TTi
fair tax itself would not be so big
a burden on the outside, and somehow
the home-owner in Portland would
muddle along. But how about the
effect on large unproductive nroner-
ties and industries in general? Could
mey pay an additional tax of 3 mill, vi.nr rv,. u ....
- vuwukii uti w Keen in
a year in Portland or 1 mill outside business a few years Th
Tho 1005 fair of nn..sn, v..
tekhoMers lvsgHi
their Investment, U usually tm.
tioned as having brought an era or
prosperity in its trail. T only
tn.ul.le with that theory that
Seattle, which had no fair in 1J0-.
prospered ami grew even more than
,11,1 Portland, and kept en prospering
and growing more than ha Portland
until Just recently, when the tax ami
,n,l bills of Seattle becrtin so un
i..r.l,lv heavv that serious setback
. .L..K .tUaf to flit
set in. In fact, uw
the wh le nation prospered Immensely
frt.ni 1905 on, and Oregon and Port-
1-n.l h,rl this prosperity--but uui
not grow no rapidly as the, fctatra am!
cities of Washington, Mnno. i a.uor-
if a and other far western mate
which had no fair.
Tho 1915 fair i also quoted aa
having a great effect on the pn
.v,u .n.l erowth of California.
The trouble with that theory In that
I )s Angeles, which had no fair in
1915, grew masiryrfy from that date
on. while San Francisco grew very
little.
No one has alleged that the 130?
fair did Seattla or Alaaka any good.
Alaska has stood atill ever since
due to the blighting Influence of j
Pinchotism. 'tis true, ami Seattle's
main growth was prior to 1909, the
exposition coming in while the city's
boom was at Its height and going
out as the boom began to decline.
No one ever hours that Chicago,
St Ixmis or Buffalo are hungry for
more expositions for the sake of any
possible good having been accom
plished in a financial way for those
cities, while it will be many yearn
before the mermoiea of what happened
to Norfolk and Charleston will be ob
literated from the recollections of
those communities. The law of ave
rages is against any exposition being
of great firnrial benefit to the city
or state in which it i held. It gives
a busy time of feverish preparation.
season or feverish entertaining,
pride and enjoyment, and then the
aftermath good or bad accordng
to the nature of the timer; on which it
falls. With everything jumping as it
was in Portlar d, the Pacific cont and
the whole country after 190r, the
aftermath is a matter of pride and
satisfaction. With the exposition
closing at a period of general hard
times the aftermath has always 1
srH-IIed ruin to many
It looks as though times oujrht to
mend begirning about 1925. If they
do mend, it may be that the 1!25
fair will usher in an era of great
prosperity and growth for Orejron
A I ' 1 A I . . .1 B
nnu simultaneously lor me wnoie
Pacific coast and the whole country,
a 1925 fair rs held. Hut if tho fair
is held, as it appears will be the case,
it will be fortut ate if timi-s do show
a big improvement about 1925, for
we will need the good times in order
to recover from the cost of the fair.
At best, a huge exposition is a
gamble. Are we in shape to gamble
to the tune of $(5,000,000 to $15,-
000,000? Or arc we in pretty poor
fimncial shape here our farm.-.
our lumbermj'n ard our business
interests, the same as elsewhere
throughout this country but ready
like the gambler who has used up all
his money and now pawns his homr
and his clothes in one jrrarrl lnt of.
fort to win enough to keep going?
Some are bound to profit from the
1925 fair, and the rest of us will pet
part of it. The newspapers' will
profit from the great volume of ad
vertising which always accompanies
such a period. The irrigation pecu
lators will profit, for the fair may
make it possible for them to unload,
it. i i
.ail ianu-owner who want to unload
may get their chance in 11125. The
farmer who wantH to sell out his farm
at a high price may fir.l his chance in
1925. The real estate men may
manage to live till 1925 and in that
REPORT OF THE CONDITION Op TIU
Independence Nationals
AT INDEPENDENCE, IN THE STATE OF OREGON
a
TliJ
lUvHOUKCEa
U.n and diacountu. Including rvdinrounU
Total lonna
Ovenlarfta. "mired, none; unsecured ....$ l,f,r,a.r.7
U S. (iovernment securities owned:
Deposited to aecurw circulation (U. S. bonda par
value) ...,..,
All other United States Government Securltlea, , , ,
Total
Other borula, atocka, neeurUlea, etc.
Hanking House, $15fiO0; Furniture and
fixturVa $4ooo
Real estate owned other than banking houae..,,,,
Uwful reserve with Federal Reserve Rank
Cash in vault and amount due from National Ranks
Amount due from state banka, bankers, and (nillt
companies In th United Btate (other than in
cluded In Items 8 or 10)
Check on other bank In the aama city or town aa
repurterv bank (other than Item 12) ....
Total of Item 10, 11 and IS '
Checks on banks located outsida of ritv of
of reporting bank and other cash Items...
Redemption fund with U .S. Treasurer and din
from U. S. Treasurer
12,500.00
86,1 M.00
Vri
11.
It
6,
Total
paid
LIAIULITIES
In
Capital stock
Surplua fund
Undivided profit
Less current expense. Intere.t am taxes paid!...
Circulating note outstanding "
Cashier's checks on own Unit outstanding". , ,,
Total of Item 25
Demand drpoalta (other than bank dVpoaVuj iub.
Kt to Reserve (depoaita payable within 30 day)
Individual deposits subject to check.,
Certificate of deposit due in 1
" - - V WW J IB
(other than for money borrowed)
State, county, or other municipal dVpoalta secured
by pledge of aasrta of this bank
Total of demand deposit (other than bank
deposit) subject to Reserve. Item 21. 28. SO
Ti me Deposits subject to Reserve fnavahla fi..
30 days, or aubject to 90 day or mora notice,
and postal savings:
Certificates of deposit (other than for money
borrowed) . .
Postal savings deposits ,
Total of time deposit subject to Reserve,
Item 82 and 35
ir,
257,287X2
Total
STATE OF ORECON
COUNTY OF POLK
I, I. D. Mix, Cashier of th above named Lank, dn
the above statement la tru to the best of my knowledge and txM j
I. D. MIX. Cii
Subscribed and sworn to before
me this 12th day of Sept., 1921.
B. F. SWOPE.
NoUrj Public
Correct Attest:
it birsceb:
c a kun
OTIS D. ELTJ
feeling "fit Rome"
One of our ambitions is to have folks feel at hort
i in this bank ; to cultivate geniality and pood will; j
J promote that feeling that the Independence Naticf
X
al Rank is n hnmn incfifnf?rn rnnrlv tn RnrVfi 02
home peonle. at all times. You will always find !
tiwiwc yuu are enuueu iu uur wiiicwt
icnuon, wnether you bank here or eisewncre.
Che Independence national Dank
Independence, Oregon.
I .w."lm,,. T : . .
wibuuui, Having meir IUianceS Rnrinna-
ly affected?
wnat effect would these heavy touched and tapped for pretty much
wuua wi iiecessary port improve
ments? The channel situation br.lnw
hotels of course will manage to kcer
some money, although they will bo
MODERN
CRANKCASE
CLEANING
SERVICE
f CA10L FLUSHING OIL
ZEROIINE -
The
oa.Service
At First-class Garage
azid. other Dealers
Portland is 'so critical as to be causing
grave anxiety. Certain it is, that
should adequate funds be withheld
from the port authorities, big ships
connot continue coming up to Port
land. Property must be able to pay
taxes for channel improvement and
the people must bo willincr to vote
these taxes or bonds as the funds
are required. If property is loaded
up too heavily for fair taxes, will the
far more necessary port taxes be
voted?
So much for the tax side of the
1925 fair.
What is -of even greater importance
than the tax question is whether the
fair will be of great benefit to Oregon
and Portland. If the benefits are
anything like what are expected, the
increase of population, industry and
wealth will make it easy to pay the
tax and other big bills.
It must be admitted frankly that
the record of great fairs as builderai
orv
that they are natural ti,.
railroads and public utilities will
have a big tax bill to pay, but prob.
ably will do an immense business and
make this money back. Some timber
owners may be able to unload. Con
tractors and union workmen oupht
to do splendidly for a time. Thm
are many other interests to whom
the fair should bring prosperity.
But how about the main industries
of Oregon, upon whom we must rely
year by year, after 1925 as well ao
during the fair period? Will the fair
enable the farmer to grow more wheat
w-fT? fr the Wheat he SrW8?
Will it help him market his wool
mutton and beef? Will it help the
price -of feed? Will ft enable him to
get more credit on easier terms?
Will it make it any easier for him to
pay his taxes if ho isn't among those
who manage to unload? Will the
theafair7bCr hlped by
These things are well worth ponder
mg. Oregon Voter.
-'-"L """ ""'"" " "' ,,:jBSSgSBSj
v,,.
UK 5
tore of Service
There is no other mercantile establishment
wuciu ociHviuu counts more man m v-
it in the
fullest sense of the word.
We do not throw out leaders and then ad
larger margin of profit to other articles. We
selling dependable merchandise at just as fltfj
row a margin of profit as is consistent
service.
iZalbreatb lones
... 1
i
The Enterprise is still Per
i
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