Newspaper Page Text
i7T ! ii ' Til tlimmi&mm iumi W In mwil THE SUN AND NEW YORK HERALD, MONDAY, MAY 31, 1920. rn Cummins (fowa), din. Georne W. Clot i. .i. initio Ki. U'ntKoii (Inn,) Kenator Trank U. Kllof(f (Minn.). ThU jirr nonts an Imjioklnf list and til uMftt many Instances tlio powwlblo cithdldtoy r"tn lurcely III tliclr cwn minds. It la alio renllxed Mat tho convention may neveiop romo man who lias not yet iwn conmucreu fact that suggests innniio powi mm.. I Li. ... 1.11. I IHIIIiea 01 IIIU RUI'SMIK toiiivbi. mini. telns tlaiteil at Chicago., la PLATFORM CHIEFS FIX If. C. L. BLAME Credit Inflation Cause, Say Republicans. The Wit Ktp In endlnuvthe high cost of llvlnir la t6'"top cnJIt Inflation on the part of tho Treasury through lt t er tlflcate borrowing poilcy, in the opinion of members ot tho advisory committee on policies ami" platform of tho lUpub Ilrnn National Committee Tho snb-commltteo wni named by Will Jf. Hays, chairman of the National Com mlttec to frame HugtreRilon for conaid tratlon of tho National Convention.- Or don h. Mllla la chairman of tho executive committee. Tha reports submitted yes terday dealt with the high com of living mid Immlcrallon. Itovlewlng the causes which led up to 0nflatd prices, the committee points out that tho man 6n salary Is tho onn who Is euC'irlnc most ilamace. The prlmo rca son ror tli hlRlt rort of living has bfn b to per oenl. depreciation In the pur chaslntr power of tha dollar, the repoit states. "In lieu of certificate borrowing, tho existence ot tho flontlng debt xhould be recosnlr.cd, Its volumo determined and rciponslblllty for It fixed," tho report states. "If elrcumslnneoa permit a funrtlnff operation or discharge by taxa Hon, this ahould bo done. If short term renewal In Inevitable, this hhould be if compllshed through obligations ndjust! as to Interest ratco so iih to Insure bona fide Investment absorption from out of existent credits Instead of lodging with the bunks under n form Of ndmlniurh tlvo compulsion and payment by tddl. tlonal credit creation." Showing that the country M now car rying on Its business with twice ns much money and bank deposits as be fore tho war, the report deals with 'ho three stages of the Inflation movement. Too (treat reliance hns been placed upon certificates, of indebtedness In connection with wa" borrowing, the committee finds. The report continues: "The bitter penalty of price Inflation Is tha' Us oVlU are, In large .part, beyond remedy, We cannot hope soon to return from the economic d!.turbnncen Ot the credit expans'on, public and private, of tho past five years, nor to return to the conditions from which It ban dislodged us. 1'rlco Inflation Is an unwelcome process In which tho genci.it Interest Is likely to find ItSf If opposed by particular kroups. Speculative elements In the bualnost world will bp dlnpleased at the prospect of lower markets; the debtor body wll. resent, as to unwisely as turned obligation!!, tho burden ot heavier Interest charge; tho publlu treasury will be called upon to bear the weight of a heavier debt pressure. "llut If speedy nnd complete return to before war prlcoa be a counsel of per fection, thero are certain wholesome things that can bo dpne. and It M upon these that present effort should be cen tred. In the first place, theic hhould be no placid acnulescence In the existing stato of affairs and no tolerant uncon cern m to tho courses which havo brought Us there. Ilesnonslbllltv for In. flatlon should be definitely and spo- j clflCally ae.Ucned. Only a full recogni tion of the part which tho fiscal methods of the part five years have played In j it,K ug iu uur present liana W ill ai- ford sure vrotectlon for the future. "in the second place there should bo no further recourise, under any wanant or pretext, to those fiscal methods and banking practices which have up to this time encouraged- or permitted inflation. To tolerate an ill Is one thing, to aggra vate Is another. The doctrine of Drao- tlcal necessity may do yeoman service In defence of unsound wartlmo policies ; it may not be as securely Invoked In tho caimer years that follow. Finally, though we may not fully retrace our steps nor undo tho largest mischief that has been done, our faces should be set In the trie direction. "The great evil of Inflation has been social Injustice. To alone In part for thla by a giadual but courageous con traction of bank credit, with Its rea sonable certain consequence of an ap preciating money unit as speculation Is checked and production catches up is a wise and Just policy. If we neglect this, under tho Influence of flnanclul con venience and business advantage, we shall fall to correct the situation. "Designed originally to anticipate the proceeds of war loans and taxed without monetary strain, tho Treasury certifleato of Indebtedness has degenerated since the armistice into a device for masking the existence and for staving off tho maturity of tho huge floating debt. Tho procedure of credit Issues to balance current budgets, which Secretary Glass fo violently reprobated In the case of European ttates, has In essence been our practice during the post eighteen months. Whereas, our late Allies have used inconvertible note Issues we hao employed the more Insidious form of bank credits. Tho Inflating effect of the EPICUREAN TREAT Because man must cat to live, says Savarin, he is invited by appetite and recompensed by pleasure. Yet, no matter how urgent the appetite, only the gentle art of cooking can make the pleasure complete. Cornmeal, for example, un cooked would hardly please even a starving man. But, made into delicious grid' die cakes at CHILDS.it is an epicurean treat. R.l Vlulnla commit! cikeiwllh dillghtlul buttir and roipla lUrored $jnxp. two methods upon the prlco level has differed only In degree. "The prlco level Is tho resultant of two factors the volume of money and the mass of commodities. Over nnd above measures of donation, the Increased rel ative production ot goods and services Is therclorc cerlilrp to bring about some correction of high living costs In ho far as thexo aro duo to an abnormal in crease in tho circulating medium. Tho possibilities of Increased production, llrcugh more effective lalior and more full v niulnned nlants. aro great, and ove-v effort hhould bo expended tu that Such a snecdliiB un of Industry Is deli able, not only no a thing good In I ItKolf In providing greater supply of goods a,: ill cervices, cue i is impunam In operating to supplement a poilcy or deflation In reducing pvlccs. Increased production la sometimes urged as a suf ficient corrective, of high prices. I'm till. tends to neglect the Immediate cause and tho direct remedy. Kfforts In tho direction of Increased production rbould iclnforce, not replace n policy of credit and currency deflation. (Julto apart from Its fiscal Import ance, iv policy of drastic economy is now Imperative from the standpoint ot lower living costs. Only In this way can ex isting burdens of taxation b reduced and Industrial tncrglea bo diverted to tha Increased production of ordinary goods and sci vices. "Tho complement ot public economy Is private thrift. If further credit ex-pam-lon mid prlco Increase nre to be ii voided, not only must the savings of the nation supply the funds for the liquidation of a formidable floating debt hut they must also provide for the rapid enlargement of the country's Industrial capital, upon which Increased production very largely depends." Missing; Jin ii Pound Dead, The body of John I'. Oardell, who had been missing from hl home at "07 West Eighty-eighth street elnco May 1, was found yesterday In the water at the foot of Seventeenth street. Graves end llay. Identification was made by his brother. Johnson Now nas 1 10 and Wood 1 1U of Delegates Actually Instructed fHE taster of delegates who will sit in the Republican National Convention is now complete. Of the 984 Senator Hiram W. John son of California holds itS under binding instructions from a Con gress district convention, a State convention or a preferential primary, while Major-Gen, Leonard Wood has only no legally obligated to vote for him. The Wood claim ot more than too is bated on delegates, who, whilo uninstructed, have expressed a preference for the General, and on the assumption that Wood men will be seated wherevej there are contests. The serious contests number roa, The actilal status of the delegates in each State follows: State. 3 a ft) Alabama 11 Arizona , 0 Arkansas 10 .California.' 80 Colorado 14- Conncctlout , 14 ,, ., Delaware I) ,, ,. Florida 8 ,. ,, Georgia , 17 .. Idaho 8 Illinois fl8 .. ., Indlahn :I0 10 4 Iowa .-.,.. 20 .. ,. Kansas,', 1 . 20 ,. ,. Kentucky 20 Louisiana ..,., 12 ,, .. Maine 12 Maryland 10 Massachusetts 95 Michigan 30 Minnesota 21 tfi 1 S ? Si liiA I 1 1 I 1 S 3 5'l J? .1 A .9 12 it 0 8 17 58 10 20 20 10 0 30 10 Mississippi 12 Missouri 80 Montana , 8 ., Nebraska f 10. 7 Nevada 0 New Hampshire , 8 New Jersey 28 New Mexico 0 New York 83 North Carolina 22 North Dakota 10 Ohio 48 Oklahoma 20 Oregon 10 rcnnsylvania 70 Illiodc Island 10 12 20 12 8 10 32 12 8 10 ' (i 12 88 . 22 10 V 0 .1!) 10 18 70 10 10 10 23. South Carolina 11 ,. u south Dakota io Tennessee , i . . ; . . . . . 20 Texas 23 Ulah ; 8 Vermont H Virginia 13 Washington 11 Yest Virginia 10 Wisconsin.'. 20 Wyoming 0 Maska 2 1 S (I 11 10 20 0 2 District of Columbia 2 j Hawaii 2 ' ' Philippines 2 i i l'orto Itico 2 , , . i Totals 981 110 110 1)0 30 2i 10 11 473 102 Instructions for Wood defeated in convention at same time passing resolutions fnvoring him. t Unopposed, Wood carried Vermont primary. Legally only advisory, but will probably be held morally binding in first ballot. LABOR PARTY PUTS 2 WOMEN ON TICKET Stnto Convention Fulls to ' Noniiiiuto Governor, Engi neer nnd Other Officers. F011 LIQUOR REFERENDUM Platform Wants Housing to Ho Public Utility Insurance Afrninst Old Age. HcilKNficTAUr, May 30. Helcctlon of bIx cnndldatea for Stato oflloera to bo voted upon nt tho noxt general olectlon and a fight over a plank In tho pint form touching on prohibition occupied tlio greater part of to-day' closing sessions of the convention of tlio Ameri can Labor Party bf New York Htat. Two women get placca tin tho ticket Mlsa Itoso Schneldennan of Now York wrts nominated for United Stales Sena tor, and Mm. William .1. Fink of CiiIh kill wuh the convention'!! cholco for Stato Comptroller. Other candidates cboKen nre: For I.leut.-Gov., It. K. Haffoy. Uoch. rutori for Secretary of Slate, William H. Auyer, Wntertnwn : for Attornej Ocnornl, P. n. Herri, llrookyn; for Stato Treasurer, Joseph Cronk, Ti'oj'. Tho nominating committee, In reporting Its His to to 'he convention, failed to recom mend candidates for tho ofllces of Clov ernor, Stato KnRlneer nnd Surveyor and Assoclnto Judges of tho Court ot Appeals, mmgeutlriK that their selection bo left to the Stato committee. Tho platform committee recommended a plank provldltfir for lotal option on light wines nnd beers. , Thla provoked a storm of protest, women delegates leading tho opposition, Finally n plank won adopted for a referendum. Other planks nCopfed dealt with the lilKh coot of living ulul tho housing situa tion. I'IiiiiUh Incorporated In tho plat- Conn seek to provide : ' "Itnmcdlato restoration of free speech. free press, freedom of assembly nnd nil the civil rlght.i granted under tho Consti tution, lteductlon of the cost of living by bringing tho farmer Into direct con tact with the cunMimer thiough coopera tion, publicly owned terminal markets, Mliy(1rutton plants nnd m!Ic distributing aiauona aim by .ompowcrinB municipali ty to. sell hccoasltlca ot life, audi aa coal, bread, Ico and milk. "Tho bulldlnir of adequate homes by regarding bousing aa n public utility and by providing public credit for tho con struction of houscH on a non-profltlns basis, stnto Insurance against tho haz ard of Industry, mich as unemployment. Illness, old ago and protection of mother hood, fatherhood, .widowhood and child hood, Tho elimination of boss rulo In legislation nnd tlio Introduction of econ omy Into administration by tho adoption of the Kxccutlvo budget." A resolution dcmandlm? that the "American Government tako no side In tho Internal strugglas In Ilusala and refine support to l'oland or any other country which la attacking I!isl. and resume frco trudo relations with Huusla Immediately" wan adopted, Another resolution ndopted dcmandH recognition of the "Hejiubllo of Ireland." Itesolutlpns nlao wore approved calling for dho removal from offlio of Postmas ter General llurlesou and for tho Im peachment by CongrcBH of Attorney General Palmer, KEW GARDENS, LONG ISLAND IS minutes from Pennsylvania Station: 35 trains each way'. A residential hotel of the high est type nfiiid beautiful sur toundings. Kicrptlm'.nllr (lflrnhlr 2 Itooin SMtet nltli mel for two ut S83 und $90 ntekl Hill mailable. 1 Larger arrangements If deiirod. Under kNOTT managerne'nL OHO. II. WAltTMAN, Muuger. VILLAFRANCA, who "practised physic" in Rome was the first to make public the fact that by the aid of salt, water could be quickly frozen. He immersed a bottle of water in a pail of snow, into which' he ' threw unrefined salt, turning the bottle con stantly until the water was frozen. At Knickerbocker Ice plants, galvan ised containers are sunk in the floor and tidhily covered. They are sur rounded by brine to hasten tho freez ing, but the tcatcr inside is as carefully protected as that in Villajranca's bottle. Knickerbocker ' . Tiffany & Co. ,4 Fifth Avenue &37-Street Paris,25 Rue de laPaix London.221 regent Street' Pearls Diamonds Jewelry . Silverware Stationery There's something c E Company ipmii u j in m inn i "'"I iim 111'WMi.iiiih.winwBmi I Thcres i3 something m"" b about ihem L I youlUik- m V) J I &a I - Correct Mourning Apparel for Stout Women 20 Off In our endeavor to provide for stout women the same ser vice that other stores provide for slender women, we carry a complete line of black ap parel ready for immediate wear. Suitable for mourning wear and for the woman who wears only black. Sizes 39 i-j to 56 bust. Dresses, Suits, Blouses, Underwear, etc. 21-23 West 38th St. " 'Tha Trousseau House of A merica" GRANDEMAISONdeBLANC,. Fifth Avenue, 44th and 45th Sts. The Season's Most Important SALE i The quautity is limited an early visit is suggested. SILK SWEATERS formerly up to $65100 25.00 TUB DRESSES form'lyupto$iSo.oo 45.00 65.00 75.00 COATS & WRAPS formerly up to $200.00 75.00 & 95.00 SPORT SUITS formerly up to $195.00 55.00 & 75.00 SKIRTS formerly $35.00 25.00 BLOUSES formerly up to $65.00 15.00 to 25.00 AFTERNOON, DINNER and EVENING GOWNS formerly up to $350.00 50,00 up TRIMMED HATS formerly up to $65.00 From 5.00 MOURNING HATS formerly up to $50.00 From 0.00 FRENCH BAGS AND NOVELTIES CLOSING OUT AT LESS THAN COST PRICE No sale article will be sent on ap proval, exchanged or credited. Oil WANAMAKER Broadway at Ninth, New York, Store Hours: 9 to 5 The Store is closed all day today Memorial Day Once more it is the privilege of the, living to get a blessing today by remembering in their thoughts and deeds the brave men who loved their country better than their lives. ' tS v i " Tis the Sabbath of the Nation" as some one said. We keep Memorial Day giving up the whole day to be free to keep step at the bugle call to honor our comrades and friends who sleep iu silence along the riverside or in the country churchyard under the smile of roses, carnations and lilacs that they loved a heavenly light shines upon every soldier's grave. , Signed May 31, 1920. Tuesday we step into June . And as we are going right along with our present plans We continue the offering of Our Entire Retail Stocks (with the exception of a few price-restricted articles and our separate catalog stocks) At Twenty per cent, off (to be made at time of purchase) Broadway at Ninth, New York Valine, Qmia0tys add Service are ootsfaniding- features of the Store policy. -This is more than, ever eeipliasized in the ourciiasinsr oooor s offered to the public at the present time TMsty-foimrfe Street . v Thirty-fifth Street The Important Yearly; Sale of Women's Cotton- Frocks will take place tomorrow (Tiuiesdlay) More than- 2,000 pretty 'Summer Frocks will ibe offered in this Sale, every one of them new and made especially for the occasion ; At the prices quoted tUne valines are MirasiLiirpassedl 7 v COTTON VOILE ' FROCKS , r T at J5, 10,50, .HBO, 113. $114.50, 115.5 J6.75, 118.00 & 20. GINGHAM FROCK! $8.75 & 14 JO Sale on the Third Floor (Madison Avenue Other Special Offerings for tomorrow (Tunesday) Woman's SMk Sport Skfimts, on the TUnM Flloor; Women's Suinnimmer Underwear, onn the Second Floor; and Fine Drapery Slflks, - on the Fourth Flloor . ,. r