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About The gazette-times. (Heppner, Or.) 1912-1925 | View Entire Issue (Sept. 14, 1922)
j-.v;r. loin THE GAZETTE-TIMES. HEPPXER. OREGON, THURSDAY. SEPTEMBER 14. 192. h 1 Uncle Sam's Neptune Ace On Longest Flight L. MONTERESTELLI Marble and Granite Works PENDLETON, OREGON Fine Monument and Cemetery Work All parties interested in getting work in my line should get my prices and estimates before placing their orders All Work Guaranteed siiiiiiiiiiitiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiie r - - v - I L .rTI iKv h 'v I r - c w v'jv K I iy T 1 H if - 1 Jfc-v ': .-h I H U rOs u , ft V I A. M. EDWARDS I WELL DRILLER Lexington, Ore. 5 Box 14 S Uses up-to-date traction drilling outfit, equipped for s all sizes of hole and depths. WRITE TOR CONTRACT AND TERMS IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIUIIIIIIIIIIIIIIIIIIUIIIIIIIIIIIliT When Lieut. Walter Hinton, V S. Navy, flew the first seaplane : across the Atlantic in 1919, he wrote ! his name in history. He is now on : another assignment, in a Navy I plane flight from New York to Rio de Janeiro, which if completed j will be a record trip of 8.400 miles.l Lieut. Hinton with a pilot, a me chanic, one newspaper man and a Brazilian passenger, left New York August 17th and is expected to reach Rio September 7th, in time for the opening of the Brazilian Centennial Exposition. All down the Atlantic coast Hin ton s craft, the Sampaio Correia. en countered heavy head winds am' was often turned back This is om of the biggest seaplanes yet buili by Uncle Sam. , The pictures show Hinton m dicatcd by arrow), and crew lnsir shows seaplane at start of the tl'i::: iust before raisinz from the a;i Pioneer Employment Co. With Two Big Offices PENDLETON AND PORTLAND Is prepared to handle the business of Eastern Oregon better than ever before Our Specialties Farms, Mills, Camps, Hotels, Garages, Etc. W1KK HISH ORDERS AT Ol'R EXPENSE Fortlaaa OBW 14 N. Imil It Peadtletn Osse 111 U. Weak it. Only Employment Office in Eastern Oregon with Connections in Portland B1 Financial Expert Points Out High Lights in Pre sent Conditions MONEY BURDEN BIG The Byers Chop Mill (Formerly SCHEMPP'S MILL) STEAM ROLLED BARLEY AND WHEAT We handle Gasoline, Coal Oil and Lubricating Oil You Find Prompt and Satisfactory Service Here iSjOU have been walking In the nrncnpnfv ?-t sppms secure. Youth and strength are careless and forgetful. You have spent money as you have earned it. Suddenly a flood of hard luck fk comes rolling toward you. r Will you be overwhelmed by it A BANK ACCOUNT IS A SAFETY ISLE. START ONE TODAY! Dollars deposited in this bank draw interest at 4 per cent They are safe dollar?- busy dollars. A small bunk account serves as an Incentive to save, tare. Save If you have only small sum put aside, deposit it with us today. All large fortunes had small begin nings. The biographies of all rich men start with their first bank account. YOUR BANK CAN HELP YOU FARMERS & STOCKGROWERS NATIONAL BANK Heppner Oregon Reforms Hold Off Until Sure Way to Relief Is Offered World By FRANCIS H. SISSON, Vice-President Guaranty Trust Com pany of New York. Editor's Note Francis H. Sisson is vice-president of the Guaranty Trust Company of New York eity. The com 1 pany is keenly interested in phases of foreign banking, as are all the great financial organizations of this coun try. Mr. Sisson has made the foreign field one of his specialties and is an acknowledged authority on the econo mic and banking situations that are now resting on the world's shoulders. What that situation is and the poss ible relief make up the bulk of the ! following article. Ever since the conclusion of the ' Treaty of Versailles, one of the Euro ' pean situation has been the potential burdens of the inter-governmental debts. The purposes for which these obligations were incurred, the approx imate totals, and the means immedi ateiy available for their repayment are all well known. It is well enough understood, also, that in respect to these debts the United States and Japan are the only important count-1 Government to let its currency be- nes in the position of being creditors i come debased and its hnances dlsor solely, that Great Britain and France ganiied almost to the point of insol- are both creditors and debtors, and vency. that the remaining nations, especially j The economic difficulty in obtain Russia and Germany, are in varying ing payment of reparations and other degrees debtors. i inter-governmental debts lies in the Interest is being paid on some of' fact that transfer of funds trom one the lesser miscellaneous obligations ; country to another can now be made such as resulted from the sale of sur- only through the medium of transfers nlus materials to France and of silver 1 uf goods and services. So far, how- of doubtful ertu'Si-y; while estab lishing nure lenient terms, as re gards a further moratorium before bi'cinning interest payments, would only leave the question where it is continuing the potential burden and its uncertainties. Remove I'ncertainty. It is desirable, therefore, from a purely business point of view, that this uncertainty about what may be the ultimate actual demand on Euro pean national treasuries should be re moved at the earliest possible mo ment. It has been suggested that this can be done under present circum stances only by cancellation of cer tain inter-governmental debts by all the creditor governments, leaving a comparatively small part of the re parations debt and a few of the less er obligations covering transactions indirectly connected with the war. Such a course would, under any conditions, have its drawbacks, and it would be quite useless, if it were pursued without obtaining sufficient guarantees and substantial evidence that the debtor governments of Eur ope would stop further inflation of their currencies and floating debts re sulting from expenditures in excess of revenues and would undertake either to deflate their finances or, better, to inaugurate a program of public improvements destined to bu ild up their industry and trade. This latter policy would involve less hard ships than deflation, and would place the debtor countries in a far better position to carry the burden of their internal obligations, the floating parts of which could be funded from time to time and so gradually accom plish the stabilization of financial and economic conditions. There would really be little use in the remission of the debts due to us unless we would have some assurance The complete reorganization of the U. S. Grain Growers, Inc, has been nude, . H. Cunningham of Crcsco, la, secretary of the Iowa Farm Ba : ream, was elected president of the Board of Directors and chairman of ! the Executive Committee, J. F. I Reed of St. Pant, president of Min nesota Farm Borertu andR. A. , Cowles of Blooraington, 111, are the other members oi the executive com- ever, the foreign trade of most of the European countries is only a small fraction of their pre-war trade, and the trade balances most of them be ing very unfavorable to the debtors, Men Who Will Run Grain Growers, Inc. fr 3 "4 4 " t r4 I i i 4,;; til COWLES J$L POLITICAL CHAOS. to England for the account of India, and is also being1 paid on part of the reparations debt, although the am ount is scarcely enough to cover the cost of the armies of occupation. As yet only Great Britain has taken are still fluctuating widely. steps to pay any part of the interest j We can hardly expect, then, that on the large loans, due this fall when ! any very serious effort will be made the present moratorium expires. j except by Great Britain, to meet pay- n . iv i ments due this fall on the debts owed Reforms Distant. tQ the Unjted gtates Government 0n While the debts exist on paper, the other hand, efforts to devise a they are not now an actual burden on ! funding scheme on the basis of the the debtors, the reparations debt ex- ; tt-rms laid down by Congress will be cepted. iSevertheless, these debts re-; present a heavy potential burden to European nations; and, until the un- j certainty which this occasions is re moved, there is small encouragement j or prospect for governmental finan- ; cial reforms on a far-reaching scale. There have been frequent efforts j in Europe to reach agreements re- j garding some of the inter-government debts, and the reparations debt act ually has been funded into long-term bonds. These negotiations however, have not sufficiently recognized twd essentials; namely, the extent to which the debtors can pay or the cre ditors are willing to receive payments in goods and services which is the only way payments can be transferr ed from one country to another, since gold is not available in sufficient quantity to be of material usefulness for this purpose. As a consequence, the agreements made have not been fruitful of concrete or beneficial re sults. The Congress of the United States, now about to enter into similar nego tiations with our debtors, has ap pointed a Debt Funding Commission, but has limited the scope of action of the Commission by laying down terms of settlement in advance of both investigation of the facts and negotiation of a funding scheme "The Bond Burden. The reparations problem has reach ed its present troublesome position, largely because of the vast overhang ing burden of the inactive Series C bonds, amounting to approximately $20,000,000,000, which are held by the Reparations Commission awaiting a time when Germany can pay interest on them. The burden of the Series A and B bonds, totaling approximately $12,000,000,000, already issued and subject to interest and amortization charges, is quite within reasonable estimates of Germany's ability to pay although, owing to the present finan cial demoralization of Germany, a moratorium on cash payments has been found necessary. It is the potential burden of the Series C bonds, similar to that of the other great inter-governmental debts which has encouraged the German OOH'T AAKE FW OF THE NEW I PEA OF THE YOUNG FELLER -fOPAY-UE M16HT GEO UP AND Show wu it's a eooo one I Poem by h Mm POOR OLD U. S. Acconlin' to palaver, which we sel dom fail to hear, we're totterin' on tha brink of certain doom. . . . We're hoverin' o'er the stage of dissolution, mighty near, We're flounderin' in the shadder of our tombl We're due to have a panic, an' a universal strike, we'll never see the taxes any lower. . . . The eattle market's bust ed O, you never seen the like, and every bloomin' bank will close its doorl There won't be any money, an' there won't be any coal. . . . They tell us in their every-day palaver, we can't escape calamity, to save our little soul, or add another woe to our cadaver. . . . . . . It's true the crops is splendid, and the medder grass is tall; the country1! full of everything to eat. . . . Old Dobbin seems to fatten in his sanitary stall the souper-sixes crowd him off the street! The golf link an' the movie show is peopled to their gates, The billion-dollar prise fight draws the crowd. . . .-The big gest diamond market is in these Uni ted States, where jewelry that's phony ain't allowed! . But we mustn't let delusions shet out the awful truth that poverty has got us by the pants. . , . The crack of doom pursues us, like a never-faliin' sleuth we have n't even got a fightin' chancel that their remission would be accom panied by lasting financial reforms in Europe. Europe has been waiting for some sign of our willingness to deal leniently in the matter, and we have been waiting for evidence of Europ ean accord upon a reasonable and possible solution of the reparations questions and European financial sta bility. Power to act in this matter and to initiate and ratify a policy on our behalf, however, is vested in Con gress, and at the present there is no disposition on the part of Congress to consider the remission of these ob ligations. Probably time and economic necessity will accomplish more than the statesmen can do. In the mean while, the uncertainty will be fully discounted as we come to understand it better. HOMEY PHILOSOPHY FOR 1922. There was a man out in Long Is land a week or so ago who took a horse around to a chap that runs a riding academy and he offered to sell the animal at a bargain. "What's wrong with it?" asked the riding master. "Why, nothing," said the man with the horse. "It's really a fine animal for riding or driving. It's gentle, has lots of spirit and good staying power." The riding master asked the man why he wanted to sell it. "Well," he said, "my wife now has a baby and since she has a baby she has no time to take care of the horse." There were folk who criti cized that man forcettine that it's a nice thing to be kind to animals and see they fall into good hands. lllickJohlis MtMttS by TvMA. MATTHEWS D.D. LL-D. Who doubts for a moment that there is at this time more or less political chaos in this country? The political chaos of this country is approaching the political confus ion in other parts of the world. We haven't political parties today as they were understood at one time in the history of this country. We have what might be called political organizations carrying the names of ancient political parties. In other words, the political par ties have a name to live but they are dead. The reason they are in this con dition is because they have abandon ed great fundamental principles of government, and doctrines til the Constitution. They abandoned them hoping that they might surrender principles for policies. You cant build a great party on a policy; it must be builded on a principle. If the parties of this country are to be revived and invigorated you must inject into their backbone the virus of inviolable principles, fundamental doctrines, constitutional programs. Men tell you that the reason for the chaotic political situation of to day is the primary election law. They say that the direct primary has de stroyed party organization and re sponsibility. They want the primary law repealed. The primary law will not be repealed. It ought to be amended and in the following par ticular: First: Amend the law by creating the right to hold a PRE-primary par ty convention. If the party would meet in a pre-primary convention and nominate a ticket this would not pre vent any individual or any number of individuals using the provision of the direct primary law and filing their declaration of candidacy for of fice. It would have the effect, however, of making the individual stand alone, on his merits, and independent of party support. The pre-primary convention would file its slate under the same provi sion. When that slate was filed, the candidate under that tiling would have the Buppurt, indorsement, and influence of the purty. In that way you would crystalize the party, restore its organization, responsibility, and accountability, and at the same time you would pre serve to the individual the right to hie indehnttcyJ under ttie primary law. Second: You ought to amend the primary law and raise the qualifica tions for office. Men who are not qual ified for the position have no right to be elected. If you want to save representative government raine the .standard of office holders. DfiniE HI WUERE'S -THAT BOTTLE Or ) FKANKIE MAP IT OUT N ) II U III L 'I NEW HAIR TONIC? J V THE HALL PLAVN0 SWEET f ,P ot- AUTOCASTER Zjj - ' " f tf::::::ff j ( the' GROCERY SOY LEFTU UoMt FCNl I l I weRE'S YOUR MAiR- r" U Don't Put It in the Attic It's Fun to Refinish It Yourself We'll Tell You How MANY lovely home things are put in the attic when the are old only on the outside. They would look as good as new li refinished. You can refinish them yourself with little paint, varnish, or enamel, and a bit of work "that is really fun." We organized a special department just to tell you how to refinish things successfully. Write our "Home Ser vice Department," telling them what you want to refiniih and how you want It to look. Our experts will tell you just how to do the work, what materials brushes, etc., you need. We mske special paints, vsrnishes, enamels, wall finishes and stsins for you to use. They are the results of 73 years in the paint-making business. Ther are the beat materials of their kind that we know. Ask for Fuller's Free Advice and use Fuller's Products to make your home even more attractive than it is now. The work Is easy and fascina ting. The results are a wonderful reward. Decoret Varnish Stain DMortt V.nlA Stalos lor niahfeJal firaltet. aaS woodwork. Taor la wd moiok 1. om op.riii.a. M.t. ta. telor of uy M tarol wood. M.do Is I ol oro. Wo ilao buU RobbtfCo oat floor Pilot. All Par- oooo VsntUooi. sltk'awilto I Eaaaol. Wuooblo Wall Ho loo. Flflo.0 (ot floor. V.r I olok, rtill.twoor Vorolos. floor Wii, Auto Eo.m.l. Polloi. Hot W.tor Will Plalto lk.l,ml.l. Porto oad Stn PtlM, Ud P10NM.H UITl LEAD. Fuller's "Homt Strvice" Points tame Manufactured by W. P. Fuller A Co., Dept. 42, San Francisco Branch., la II Cltloo In the Woit Fuller's "Home Service" Point, are sold by the lollowio. la your city W. F. BARNETT, Lexington C. W. SWANSO.N CHOI' MILL lone PEOPLES HARDWARE CO. JlllllllllllllllllllllllllllllllllllllllllllllllllllllltllllllllllllllllllllllllllllllllllllllllU I Reduced Cash Prices I After August I st, our prices will be: I Cleaning Pressing 1 $1.50 Men's Suits $ .75 1.50 Overcoats 75 1.00 : Coats 50 1 .75 Pants 25 i 1.50 Ladies Suits, plain 75 1.50 Coats 75 1.00 Skirts, plain 50 i 1.50 Dresses, plain 75 1 1.25 up Pleated Skirts 75 up 1 Hats cleaned and blocked $2.00 Fancy Dresses, 25 percent lower than city prices 1 See our line of Fall and Winter Woolens at I $30.00 $35.00 and $40.00 I LLOYD HUTCHINSON I I Where jLEAN I Lir iilllilllliiiiiiiiiiillillllliiiiiiiliiiiiiiiiiiilillliiiiiiiiilliiiiiiiiiliiiiiiiiiiniliiiiiH