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Limitation of Arms Likely be
First Subject.
Washington, Nov. 3.-Important
developments were forthcoming : here
today which may intimately affect
the results of the conference on lim
itation of armaments.
The first of these were the strong
official indications that the primary
object of the conference, limitation
of armaments, will be taken up ahead
of consideration of far eastern ques
tions.
The much discussed point as to
publicity of the proceedings of the
conference, once the preliminary
formalities are all over, also was
brought to the front. In this connec
tion it was stated by a high state de
partment authority that a "surpris
ing" amount of publicity will be forth
coming from several cources. The
most important of these sources, and
the one in which the public- has the
deepest personal interest, is that of
open sessions as frequently as pos
sible.
Open Sessions When Possible.
Previous indications have been
that the conference got fairly under
way nearly all the sessions would be
held behind closed doors, and the in
formation concerning such sessions
was to be carefully .sifted before it ?
reached the press. A modification of
this plan is involved in the decision
to allow direct reports of the confer
ence whenever it is feasible.
Officials of the main American del
egation are said to feel the necessity
of insuring to the world a reliable ac
count of each day's sessions and the
progress made therein, and that there '
could be no more direct way of guar
anteeing this than by opening certain
sessions to the press. This, it is felt,
will have the important effect of in
suring against unnecessary secrecy
and winning the confidence of the
public of all the nations represented.
Will Issue Statements.
In addition, it was officially stated
today, that whenever the sessions are
closed, authoritative statements will
he issued containing as much infor
mation as it is possible to give. Fur
thermore, Secretary Hughes in all
probability will outline personally to
the press the progress of the confer
ence each day.
These decisions are regarded of ut
most importance as indicating a gen
uine intention on the part of the
American officials to avoid the se
crecy and distrust that so nearly'
made the Versailles conference dis
astrous to this country.
"We do not intend that this con
ference shall be shrouded in secrecy
and conjecture," it was stated. '"The
people are entitled to and shall have
as much publicity regarding the ac
tual progress of the conferences we
can get out without actually imped
ing the result we all hope for."
Limitation May Come First.
These encouraging indications of
the day were supplemented by infor
mation from official sources that the
conference at the outset may get
right down to business and "take the
bull by the horns" by discussing arms
limitation first.
The general impression, however, is
that this primary object of the con
ference cannot be settled until its as
sociated problem, that of far eastern
questions, has been adjusted. As one
official expressed it. "There prob
ably will not be any agreement on re
duction of armament while the clouds
hang over the Pacific."
Since the arrival here of the main
Japanese delegation yesterday there
is every evidence of a possible re
versal of the agenda, and the ques
tion of arms limitation may come
first. This does not mean an actual
settlement of this most important
subject before taking the maze of far
eastern questions, but only that it
will be discussed first.
Peace Foundation Calculates
Costs of War.
Boston, Nov. 6.-The World Peace
foundation in a statement tonight
gave figures compiled from reports
of the secretary of the treasury which
it said showed that the United States
government in 131 years of its ex
istence under the constitution had
spent nearly four-fifths of its total
ordinary disbursements on war or
things relating to war. Tables pre
pared by the foundation showed total
ordinary disbursements from 1789
to 1920 of $66,728,209,409 of which
the war items amounted to $52,607,
489,927, or 78.5 per cent.
Official figures were given to show
that the cost of the Confederate war,
including interest on the public debt
from 1861 to 1863 and pensions to
date, had run to $12,322,168,601 or
more than the government has spent
in all its previous existence. The cost
to the United States of the world war
was given as more than $33,000,000,
000.
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Because of Us tonic and laxative effect, LAXA
TIVE BROMO QUININE is better than ordinar>
Quinine and doc J not cause nervousness nor
ringing in head. Remember the full name and
took, for the ?ism ature of E. W. GROVE 35c.
Proof of Soundness of Ch:
icle's Position on Feder:
Reserve Bank.
Ever since the summer of
when the heavy guns of the all
erful Federal Reserve Banking
tem were aimed with deadly ace
cy upon the business of the coui
The Chronicle has never cease<
call attention to that crime ag?
business and prosperity; forced
flation. It has caused nine-tenth
the trouble in this country, with
lions out of employment and 1
prices shattered to the point wi
the producer became thoroughly
heartened and the merchant n
sick because of the decline in
ues in his store. The price of cot
for instance, was forced down f
43 to 10 cents per pound, and, tho
other commodities did not su
quite so much in proportion, t
suffered quite enough. The Fedi
Reserve Bank's ruinous policy sin
played havoc with business and
are right now slowly recoveri
The announcemnt is made wit
great deal of gusto that the disco
rate has again been lowered and t
this is done to help agriculture i
other forms of business. Indeed, i
like sending for the doctor after
patient has already passed the cri
The discount rate should never hi
been raised to such an extent thal
was and now, after we have pas:
through the worst, we hear the m
nanimous gentlemen of the Fede
Reserve Board making the grave ?
?nouncement that it was going to lc
[er the discount rate to help bri
business back to what it should 1
?Of course lowering the discount rs
again will help, but why should
ever have been raised to the po:
where money could not be obtain
even by responsible men of busines
As for The Chronicle's position ]
garding the Federal Reserve Bani
conspiracy against business, tl
newspaper alone of all the dailies
the country, and aided only by t
powerful pen of the editor of t]
Manufacturers' Record and the voi
of John Skelton Williams, form
member of that board and ex-com
troller of the currency, fought f<
15'months against it. Now, we si
notable men over the country takir
the position that it was a mistake
policy of the Federal Reserve Boai
to force deflation which would ha\
come gradually anyway, but werai
not have blasted homes, and wrecke
lives and fortunes and thrown mi
lions out of employment.
The Chronicle yesterday printe
the views of former Governor San
uel W. McCall, of Massachusetts, o
this question, and we reprint Go\
ernor' McCall's statement this morr
ing and leave to our readers to com
pare what the distinguished gentle
man from Massachusetts says no\
with what The Chronicle and Manu
facturers' Record have been sayinj
for more than a year. Thc artic!
from yesterday's Chronicle is as fol
lows:
"That the present business depres
sion with its resulting unemploymen
is mainly the result of a mistakei
policy on the part of the federal re
serve bank, is the opinion of ex-Gov
Samuel W. McCall of Massachusetts
"In estimating the weight of th?
different causes of unemploymen
and business depression very little
has been said about the effect of th<
drastic contraction of currency anc
credits through which we have pass^
ed.
"The federal reserve system was
designed to furnish a circulating me
dium which should expand and con
tract in response to the demands of
trade. We were apt to think of it as
something self-operating and furnish
ing a natural expansion and contrac
tion according to the beautiful law
of its being. This natural process
however, is one of its beneficent pos
sibilities. It is in effest a government
machine deity and its real benefi
cience depends largely upon the wis
dom of those who direct its workings.
"We saw the system responding to
the needs of government and private
industry during the war. There was
the necessary expansion and defla
tion and it was all natural enough.
And then there came a time for the
reserve process, and for us to get
back again to the solid earth. That
was a process no less important than
the other and perhaps attended with
greater danger. When our balloon is
on t:he high upper levels it would not
be to the credit of our financial aero
nauts that they should puncture the
gas bag and cause it to come down in
a v/ay to bring destruction upon its
occupants.
"Something more than a year ago
it was decided that we should have
deflation and instead of waiting for
deflation to come along natui-ally,
chiefly as a result of a shrinkage in
demand, it was decided that it should
be hastened, that loans to business
men should be liquidated." Thus,
there came about a forced contrac
tion of currency and, what comes to
che same thing of credits, and we saw
lo an extent a substitution of the ar
bitrary action of men for the play of
natural forces.
"The contraction of currency and
the arbitrary enforcement of high in
terest rates which have been wit
nessed have accelerated the fall in
commodity values and, as a result,
(business men were squeezed under
[this government press and the coun
try was filled with thousands of lame
I business ducks from Eastport to Los
Angeles. The distress by no means ex
tended to concerns that might ordi
narily be called weak, but great cor
porations and firms which had long
been prosperous were made to suffer
I severely.
"We saw Mr. Ford barely making
his escape and only as a result of his
remarkable business capacity. No
class has been hit harder than the
farmers, with the value of some of
their products, like wool, cotton and
hides, disappearing almost entirely.
No one surely can deny that there
has been very much liquidation of la
bor with the throwing of some five
millions of men out of employment.
"It is difficult to believe that all
this is the result of that natural elas
ticity that was supposed to be install
ed by the federal reserve system."
Augusta Chronicle.
The Old Home Town.'
For a number of years fall home
comings have been popular in many
counties and smaller cities over the
country. They are for the most part
family reunions, given a wider in
terest because they attract to the
home town or county many friends
of yore who might otherwise never
meet again. Social occasions are ar
ranged, there are public addresses,
special church services, historical
reminiscences and various forms of
entertainment for the guests from
other localities, who left their old
home, farms and towns, to meet, let
us hope, a larger and more enduring
success abroad than they could have
done at the old home.
The old town looks small, no doubt,
to those who went to the city for
their life work; the old farm cramp
ed, to those who now inhabit the wide
reaches of the West. But to all the ?
home-comers there are dear places, I
hallowed by tender memories, to vis
it-the brook, the ancient sycamore,
the beloved hills in the country pl?c
es; and in the small towns the old
home with its multitude of reminis
cences.
Homes pass away-into other
hands. There is no continuance on
earth. Change never ceases its work.
Trees die, familiar prospects are mar
ried. Only the skies are unchange
able. So there is a touch of melan
choly for all home comers except, the
young, because of the ravages of
death among the relatives and
friends. Yet where the old homes are
peopled by strangers and their con
tents distributed among the children,
there is one great consolation. It is
not the place or the house that is
sacred. That is the mere shell set up
to protect the family from the weath
er. The things that were in the house
are the objects that the heart is real- '5
ly interested in-the chair that gave j
comfort to mother; the desk that was
father'; the books the gentle and lost!
sister loved; the intimate possessions j
of the brother called West; these j
things touched by vanished hands are j
the true treasures of the old home, |
not the building which sheltered j
them.-Chicago Journal of Com
merce.
Juggling Names Disturbs Dial.
Washington, Nov. 3.-Juggling
with names of applicants for ap
pointment for postmasters, indicative
of the return by the Republican ad
ministration to the spoils system in
filing vacancies, constantly disturbs
Senator Dial of South Carolina, who
has referred to the situation in a let
ter addressed to the civil service com
mission. In course of his remarks,
the following occurs:
"I make no charge at present, how
ever, it has been brought to my at
tention that there must be leaks in,
your office as postmasters in South
Carolina.
"For instance , I have heard that
after examinations, other names are
added to the list. I have heard, fur
thermore, that reports as to the re
sult of examinations have been held
up until interested parties could in
spect them. I merely request that the
law be adhered to rigidly.
"I have been given to understand
that under the system of appointing
one of the three highest that there is
much juggling, and that some en
titled to appointment under no con
sideration are receiving undue fa
vors. I do not know that your hands
are bound. But it occurs to me that
the applicant receiving the highest
mark should receive the designation
in the absence of anything against his
character."-The State.
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