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About Daily capital journal. (Salem, Or.) 1903-1919 | View Entire Issue (Feb. 2, 1918)
TWO THE DAILY CAPITAL JOURNAL, SALEM, OREGON. SATURDAY, FEB. 2, 1918. iill: i!li;U!i;niii Hi lulu hilh ill n iliillliiilllilliiiiiMilliiiiilMi, a it. 1 I. i f I Hi h - 'hi r 1 u lUllilllillll1 IS 'ji if n... (Al If "5. I ' - , .lll.., i.fiHI 1 x - i'lTThilH i i 1 I1 ,H ,11 illU'il J ,V 'll' llllll llll'W Hi Www "4Ji II Billfi I ill PI '1 41 i 'MM isr Mjiifu : riff f. J r 1 1 foiflftaitohlrPt-i , H'llljj I QUPPORT of Home Industries $ is One Form ?f Patriotism. ssaessssess in 1 1 ! ? I liLll : id Is III. 4 -'Li ! 1 k I .i S V . I J f - t ; e , s s: e i i .a .v- ?. --if- a r is imh 31 -i n y I" hi i mil lil' j il l 'it- 'I'J r I'llillllfniill'lil III' i fl I'fil i In ItS'i, -1 J lAfOMEN Are Purchasing Agents in Host DAY-ROLL Money Stays at home " homes. Their cooperation is necessary p Jiebs wake Oregon prosperous rll''ll.'W'l)-'''''.Ml'IVW-WV.''"ir"'VJlyl',;"f';' 1 i ! I'm':1 1 FRUITS VEGETABLES TEAS,SPICES,EnMCT5,ETC J l Heals I fi between I for youPkllh's sake! 1 V V-T1T.T5 S Promote Life and Vigor GOLDEN ROD V '"'Ml i OOlWMKiilUl'UI. feiSv ;5t i ROLLED OATS WHEAT FLAKES PANCAKE FLOUR T. WHEAT NUTS RALSTON ERAN On "Wheat-less" days use Golden Rod Oats, Cam Meal, Rye Flour I and Buck Wheat Flour. The Best the Market Affords. CROWN FLOUR is made to meet the demands of the most exacting house wife. It is as near n'trht as the best wheat, modern machin ery and expert milling knowledge can make it. , The quality of Crown Flour will never be lowered, jra will make it better if possible. m NOT BLEACHED. '' ' Pearl Shortening A Product of HOME INDUSTRY A Shortening oi REAL MERIT. Made by one oi the Largest Home Industries. For RESULTS it will compare favorably with any High-Price shortening on the market. It is ECONOMICAL and gives Excellent results in any kind of Cooking. Union Meat Co. . NORTH PORTLAND, ORE. I REDUCE YOUR COST OF LIVING The Healthful BAKING POWDER A FULL POUND FOR 25 You may pay more but you can not buy a better or more efficient Baking Powder at any price. Ask Your Grocer for DIAMOND "W" PURE FOOD PRODUCTS Wadhams & Company Manufacturers and Wholesale Grocers. ;pi,j s m my i wi mmmmm iff "Is I rB(a,A ? mm I. , i-j Hi ii 'j i . - j - j. una Mil Ijl iffi III! 1 - - ' 1 Purola Toilet Preparations and Medicinal Remedies are Guaranteed to Please. Every drggist in Salem sells them fHi! Ml 1 ail 1 1: .!: m 5?: III n ; inn IWA'-VAi llllfl It Pays to Buy the Best Ask for Olympic Flour Makes Whitest, Sweetest, Healthiest Bread sum pic Makes Health Happiness and Success Made from carefully selected Northwestern Wheat, thoroughly cleaned and scoured by the most modern meth ods known. All the nutritious qualities of the Wheat are retained and it reaches you clean, pure and wholesome. The Portland Flouring Mills Co. Former Governor West Before Senate Committee Washington, Feb. 1. Selling lumber to tlie government "is like taking candy from a baby" these days, Formor Gov ernor West, of Oregon, told the sonata military committee today. Some one with fuii authority should be placed iu the field to handle lumber purchases, he advised, and should have with him "practical sawmill and log ging men who are not interested in gov ernment contracts. Those fellows know the lumber game and you here in Wash ington do not." The government today is getting only 20 per cent of the spruce needed to ear ry out its aircraft production program, West declared. He added that whil. 11,&00,000 feet of selected spruce wa needed tuontiTTy, only 13,500 feot had been secured altogether in the last air months. "Who has that business m charge nowf" asked Senator Hitchcock. "Onlv God knows,- and he won't tell," West replied. "I've spent a. month trying to find out. I 've ece Secretarv" Baker. General Spuier, Col onel I5eeds, Colonel Montgomery and, i fact, everyone down to the elevator man. ' ' r PLEASES SOUTH AMERICA. Rio Ve Janiero, Feb. 2. The newspa per Imparcial, discussing the recent let" 7 - ti . - J i. ilrli l T" TXT ter rrom iTesiuciii ?yhbuh iu iwy Howard, president of the United Press, repledging America's utter unselfish ness, i ntho wor, today said editoriallyi "The Wilson-Howard correspondence i an opportune statement of the elevated j movements or tno unii'ju niaieii in xu.o r. It is a defense of principles con stituting the foundation of the political existence of the countries on the Ameri can continents. President Wilson's id are bound not only to attract the unani mous adhesiou of the American peoples, but also universal opinion."- TR Y OREGON PR OD UC TS FIRS T Men now grown will have been dead and probably long forgotten before ex periences and conditions now prevailing will again take place. It is surely hoped that war, such as now prevails, will never again be visited upon mankind. Yet it is the war that brought abuot the present circumstances. We have passed from the ordinary to the extraordinary condition of most ev erything. Conservation and cooperation is the general order of things. We are asked and we give freely to the requirements of the government, but we owe also a duty to the immediate community wo call our home city and state. Among the big demands being made, is that of saving in car equipment; cars must be released wherever possible for war use. There has been, and continues to be, a duplication of effort that will event ually be prohibited why not voluntari ly fal in linet Why ship lumber to a distant point, make finished products and ship back to Oregout hy raiso grain and ship away while other states forward the finished cereal to usl And so it goes in endless variety, ship and reship, and why Some one pays all this needless cost. It is. the ultimate onsumer who car ries the load. The dealer claims that it is the con sumer's demand that causes him to stock the goods made elsewhere, but which are also produced here in like quality and at similar price. Docs Mr. Retailer really do his part in exerting extra effort to encourage the sale of Oregon products or does he sim ply pass along by the easiest route any goods that may be asked for. Without thought or consideration of the commnuity welfare t Out of the dollar spent for goods that are made elsewhere possibly twenty cents remains in Oregon. While the principal find profit both stay here if Oregon articles be sold. With millions gojng out of the state in support of the many worthy demands made upon us, most of it never to come back. Does it ever strike the average con serve for the welfare of Oregon. The saip inductry is one big leson of the benefit of payrolls. How can any merchant adopt meth ods that operate against Oregon pay rolls, with such evidence before himt Not one bue seeks with avidity the benefit to be derived from payrolls some one else builds np. But how many try to increase those already here, by encouraging the sale U A 11.I nntn.it ;n nil K...J This businec3 of patronizing home in dustries is not an idea invented in Ore gon we have no patent on it. The eruth is, we are miles behind our sister st'.tes in the loyalty with which they stand by the factories that do so much to maka prosperity. It is not a question of sobs, subsidies or svmpathies. , It is one of duty and OBDERS. The government advi-.es the nation "Buy Lccal Products." It is patriotic to do so and the per son who fails is in the slacker cless. He is keening stey with the man who boasfc that this is hi3 own, his native ; lanr, but refuses to buy a Liberty .Bend. j Don't be a r'acker don'tt wait to be drafted be a volunteer for Oregon products. FINANCIER'S VIEW OF WAR CONDITIONS AT THIS TIME 1 New York, Jan. 31. The war outlook continues perplexing, and military oper ations are deadlocked by unfavorable weather conditions. There is, however, a growing belief that peace is not far Cistant. This belief is seemingly based upon the signs of breakdown iu Austria and growing discoutent in Germany. At this writing it is kiipossiblo to form ar.y reliable conclusions; and the var jLnis rumors should lie net-opted with ro ' servo owing to the difficulty of secur- ,ii'g reliable, information. The Germau ! Chancellor 'a peace message revealed a i desire for peace, but was so evasive and ; impossible in its terms as to be disap pointing. Some concessions, however, were mad and in duo season others mar f How. The president is now coming in for some criticism iu connection with pro gress of the war. With the political and personal aspects of such criticism, these financial advices have not the slightest concern. History warns ns that all gov ernments pass through such crises; espee jially in the early stages of war, and it 'was only a patriotic desire not to em , barrass the administration that prevent jed an earlier outbreak. Both Washington land Lincoln had to endure bitter hos tility during the great crises which they I weathered successfully. Mr. Wilson will probably have to do likewise. The great leaders in France and Britain have pass ed through such attacks with advantage, and so probably shall we; though it is unfortunate tT.at party polities or per sonal issues should have been allowed to ! intrude. The Chamberlain episode will ; undoubtedly have the effect of speeding !up and increasing the efficiency of ail war activities. Whatever criticisms : may have been made concerning the president 's appointments and his poli- ,cies in domestic affairs and they are not infrequent his foreign policies have jbeen singularly sane, just and highmind ed. No man has more clearly spoken the mind of the American people and their .attitude toward Germany than Mr. Wil ' son. j We are approaching the perrbd for a new government loan, preparations I for which are already well advanced, j Secretary McAdoo has intimated that ithe huge sum of 10,000,000,000 will be : needed for war and domestic expenses I between now aod June 30. This is a 'staggering amount; but whatever por ; tioa is issued as a loan, it will doubt jless be liberally taken, necessity plus i patriotism insuring its success. Not less ithan 3,000,000,0ti0 of this sum will be j raised l y taxes so that the exact amount i to be issued in bonds is not yet def initely known. Of course, this means that the c untry will have practically no surplus savings for now enterprise for some time to coine; and the govern ment is already considering steps to wards discouraging investments in other directions; this being m line with the policy of tho British government adopt ed early in the war. What the rate will bo is not yet divulged. Sound banking would dictate either a liberal rate or a slight discount in view of the pticcs at which the two previous loans are now selling. Such a policy would encourage a wider public distribution than special privileges, which would appeal chiefly to big investors who would turn over a large proportion as collateral to the banks which already hold large sums of these bonds'. Ur if sueh terms are not practicable, then I would renew my pre vious suggestion of a 8.65 per cent three year treasury note bearing interest at the rate of 1 cent a day, such notes being convertible into 4 per cent at ma- turity. I Popular public opinion is, of conrso, ; adverse to high interest rates; but, if I guided by disinterested advisers, the Ti l t 1 1 1 i TJ'n n 1 il nr nli (i 111 it mnrlnrotii ii a nfi. .lection. The loan would certainly bo-i more popular if the direct returns wore sufficiently liberal; and there arc many sound reasons, political and economic, for securing as wide and as permanent a subscription as possible. It is certain ly good policy to have these bonds wide ly scattered and in the hands of the general public, ratner than concentrated in the hands of large investors and big financial institutions; although in any event the latter can be depended upon for doing their full share in sup porting the loan. Aside from war influences, the busi ness situation is considerably confused by the coal crisis ,tlie erious conges tion of freight and the great expansion of government control over industry; an ! expedient that is not always working las successfully as desired. The price fix- -ii:g programme, for example, has not .been a suceess, excel l. that it has some iwhat restrained profiteering; tho old kftablished law of srpply and demand still being the dominant factor. Scarcity 'is tho rule in nearly all products and instrumentalities, and high prices are inevitable while the war lasts. Readjust ment to such conditions is unavoidable, and is already developing in the form of economy among nonessential products. Our government is also urging economy iu food, fuel, clothing, wool, and many other articles. Great Britain is in the meantime economizing on meats, fats and bread, and urgently appealing te us for more wheat. These Calls are imper ative, and they unsettle business. Oa the ether hand the high prices which, jsuch articles command, and the activity oi nie steel ana munition industries, are bringing to the interior a high degree of I rosperity, which promises to last for l sonic lime to come, because a long per-i-.d .uuLt elapse before production 'catches up with consumption, even when peace comes. Both the agricultural and the industrial outlooks, so far as es Isimtialfi are concerned, are eneeuragiiig; and cur farmerb end industrial workers I are feemingly assured of another pros j tennis season. The chief drawMu ts will be the almost complete postponement of I new enterprise, the stoppage cf bnild- iug. and the lessened demand for many I luxjiies. The spirit of extravagance has beei. ctnsibly moderated by a keoner realivbtion of the war and its eonse- quences. Upon the whole, therefore, the I business outlook is encouraging, al though facing .certain adjustments that ; cannot be evaded, and eertain pitfalls .L... :il , i V -l.Mij' n J mat, win wave to oe SKiiixuny paHBeu over. So far as the stock market is con cerned, much the same must be said. Many securities are selling at very at tractive prices; but all purchases, whe ther for investment or speculation, should be made with particular scrutiny and confined to the better class of eon icerns. There is a considerable short in terest n this market, though good bny 'ing usually develops on all sharp de jclines, and the result is frequent fluc tuations within comparatively narrow .limits. The exigencies of war leave the market exposed to sudden movements at any time. HENRY CLEWS. Have the Journal Job Dept. . estimate on your printing ' needs you get the benefit of eaah buying. Phene 81. 4c
