The sun. [volume], October 31, 1916, Page 6, Image 6

About The sun. [volume] (New York [N.Y.]) 1916-1920

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THE SUN, TUESDAY, OCTOBER 31, 1916.
am not unmindful of the cost of this
war, and thai that cost must be met
and can only he met through taxation.
"It Is on this very question of after
war taxation that wo must nolo the
great difference between external nnd
Internal obligation of tho warring coun
tries. When I asked one of the highest
authorities, In (Ireat Hrltaln how he.
would express the difference between an
external and nn Internal obligation he
replied that an external obligation of
the Government Is ft debt owed by ths
(loveninient to Its own people: an ex
ternal obligation of tho Government Is
u debt of all of tho people through the
Government to holders wKhoUt tho coun
try.' "If we nie to make, assured our prei
ent prosperity and Increase It. as we
propel I v can, It scenii to me Important
that our pcoplo should realize theso
facta and meet this opportunity, the
of which let ua fervently hope n ill n,t,
again be presented. If this prrj'pr'rltv
Is to ho shared by the country m .1rl!
our Investors, our hankers and the pUhi
Ho generally must take a bread, lutein,
gejit view of tho opportunities befnri
us and assure the peoples of thrc fr.
elgn Governments that we dr the r
trade and liavo confidence, j 0 (Hjr
financial soundness."
UNSECURED LOAN TO
BRITAIN HIHJED AT
M. I!. Davison, Unck From
i London, Argues for Fair
Trent nii'iit for Kntcntc.
Ort llrltnln and Frnsirr a ds!rahlo
ciintomeMi and wIMi to irmtlnue to cell
tin-in our products, wo must treat thorn
n 11 tirnilitrer imiiAlU' trtatM a. rirlrAhle
denly found ottreelven plunged Into war,
and llndltur ournelvm wholly unprepared
fought ut once $fiOn,(0(M00 worth of
material and munition. Hay wn plarcil
our older wllli tircut Itrltaln and
France, and wcru then tolit hy thr-nt
that they would reqiilrn In payment
IO0,0nn,O0n In Bicl, th.it they would ac
cept MOO.onn.Quu In I'nlled Htate !ov
ernmcnt honilM, nnd Unit the icumliiiler
must he I Mid In United States Ouvein
ment bonds secured by bonds of certain
Fauth American Government. I believe
that Ihl Is 11 fair parallel to our pre
cut attitude, Htv I rIpo hellevo thet If
our creditor took that position we would
meet their requirements us to payment
and ot once net about to place oursehes
In a position of Independence as far iih
posxlhli! to do .
"It naluralty would be Inconceivable to
111 that the peopto of (treat Drltaln or
France could question the obligation of
the United Htates Oovernment In pac
or In war. tn this connection It Is my
unqualified opinion that the unsecured
government liond of lrct Drltaln or of
France, free from home Income tax and
payable. In dollars In the United KtateH,
Is just an sure to he paid lie the tin
secured bond of tho United Htates Oov
ernment, no matter how the war ter
minates. In making this statement I
cutnm!r, In which event Iiim i-onfldont
we will continue to supply them largely,
not onljr during the war, hut for the
reconstruction period which will follow.
"11 have Been wondering how we in tnts
country would feel If tho tahten were
reverted. Hurpone, for Instance, we suit
FOLITICAI..
rOMTUA!..
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XXX0 H
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HX H
KKS l'HOFIT IN FUTUHE
4.
Himv Issue, He Snys, Would
Aid (iit'Htlv in Extending
' Forelirn 'I'nide of V. S.
I Henry P. n.ulson of .1 P. Morgan
tj Co., who returned on Sunday from
Cm ope, where he and J. P, Morgan,
who Is Mill In tendon, arranged terms
for the new $300,000,000 United King
dom loan. Issued a statement yesterdsy
which the financial district thought
might foreshadow another 'unsecured
Juan, similar to the Anglo-French loan
which was floated a year ago.
The latter, for $500,000,000. although
wholly surceful, was not taken so
readily as In tho cases of ths recent
loam, which were backed by collateral.
Agahi't the $350,000,000 British loan.
tuoughl out last August, '$300,000,000
In securities was deposited In New Tork,
while the List Kiench Government loan
had the bucking of an American com
pany formed to Issue its own debentures
ngallirt collateral In the form of no
entitles ilrpurtlrd by the Kiench Gov
ernment in a New York trust company.
Mr. Davison's statement follows;
"My trip to Kuropc, from which I re
turned In my olllic thli morning, was
made for the purpose f illeculng mu
nitions anil llu.incc with the authorities
In LonilJii .mil rails. I also hoped that
1 might form smoothing of an opinion
of the military situation from personal
observation, and this I xvim given ample
opputunlly to do.
"After rending three dae In Paris t
was Informed that arrangements . had
been made for mo to visit tie front, so
1 rtartcd at once, going tlrst to Verdun
and then atom; the line to the French
ami Hrlllsh stlntr of the Sonimc. He.
log under the direction of the military
authorities I hail the privilege not only
of thoroughly viewing the operations
ain studying the organliatlon of botn
Smile hut a No if meeting the Generals,
their staffs mid the other otlk'crs and
ten down thioiia i the lltn
"It is fiitlln to attempt to describe the
ipioHun gained front such an ex-
ferience. No one can have the slightest
, nneeptlnii of the magnitude of the or
ganization arid undertaking without per
sonally being on the ground, and one
cannot but lie piiifiiuiidly Impressed
with the personnel of both armies and
ticrefjre better understand and appre
ciate the reasons for the marked change
sven niiil fiit thtoughout both Kagland
ml France.
"When I visited these countries about
a c.il- ago t'lere was tr question In the
mlmls of Hie people as to their ultimate
success; now their attitude la not alone
one of confidence, but also one of deep
f.itlsfMctloit in having at last found
liemsrlvcs aa to munitions, organisa
tion and men. all sinning the llnet
spirit imaginable throughout the rntlr
line. The best proofs of this are their
achievements since the first of July.
Fig
"It Is Interesting to note that however
perfectly rqulppeii they may be, and
noweor sucecM-ful their offensive has
been, there is every evidence that the
Allies, i-joperatlng and harmonised as
one nation, apparently have no Idea of
abating In the slightest degree their
purpose of providing for all possible fu
ture needs.
"When In France I also availed of the
opportunity afforded to acquaint myself
Willi the tlnanelal and lndu-tr si s tun
tlou anil visit sune of the munition
plints, the development of which In so
01 Iff a period seems little short of mar
vellous. While I have for many years
appreciated the financial strength of
! ranee, perliaps notblngon my trip im
pressed me more than the evidences, un
der these circumstances, of that coun
try s great capacity Rnd wealth.
"Even considering her wealth, her
Army, the wjnderful adaptability of her
people and her national spirit, one must
marvel at what she ha accomplished
.Unco August, 1914, and bow to her mi
most In reverence. Oreat Hrltaln. with
her "contemptible little army" of about
loo.ooo men, as it was styled two and
a quarter years ago, but with a forta
now numbering between four and five
million men, equipped and trained, also
has spared no effort In developing her
manufacturing resources. Certainly his
tory records no parallel to the achieve
mcntfi of Great Britain and France In
this regard.
"ISvents have moved o rapidly In the
last two years that we aie ant to for
get that Great Hritaln and France hae
for a long time been the two principal
Investing countries of the world. An
analysis of their wealth shows the most
amazing results.
"Take Great Hrltaln. for Instance. It
I estimated that Just prior to the war
tne investment of her neonlo In secur
ties representing property outside of
England whs $:o.noo,otiii,ooo, Thh for
elgn lnestment Is, of course, natural by
reason of tno limited area of England
tnus compelling her people to seek out
Mo Investments. I doubf If prior to the
war the aggregate of the investments
held In the United Htates In securities
representing property outside of the
ountry would cireed $2DO,0(IO,000.
War Changed Conditions Here.
"In July. 1M4. the United Htates was
lr the midst of an Industrial depression
winch was liecinnlug to be seriously felt
iiiroimiiMiu me country, nut suddenly
almost over night, the monstrous trag-
en in j;utopc developed, and as a re
suit we are to-day perforce experiencing
uiipnciiieiiieii prosperity throughout the
length .in. I hreailth of the land.
"Immediately after the outbreak of the
wnr Great Itnlnln and France, as well
as some of tin other Allies, flndlnz
themselves wholly unprepared In tho
way or munition for sin li :m einerirercx
lushed to (lie I'nlled States for equip
incut f eory loud, seeking early de
1 Vel les and Invito.' Iltlfll liril'i'M. 'I'll..
Milu.ne f.f maleilal purchased ,y them
war far beyond their expectations or
our own i nese purchases were made
because at that time they had to-luve
ine go'st
"Now the situation Is materially dlf
fenin Inning the more than two years
wiiuli have passed Great Hrltaln and
Frame have not only carried on the
w.ii on the western front hut as stated
have at the same time developed their
iiianur.iclurltig lesources In a way
wiueli Hiirpa-w IHIef, so that to day
tiii tl ! themsees mil equipped and
i a po'oiioii to . nniii pot miy for
"icm ir nut in n large degree to
s Miei, allies. In Klatllig tills I do no
on in to Imply that there are not many
things thej lequlie from us as they
n a oer ire the war and will after.
do not mean there are ery many
' rime iMiieji iney would rnhrr pur
i a e ri.iin ii-,111,111 produce u home,
" nlng Mi, iisouiies required fnrs-iiil
ii,..jii.ii"ii I Hi- ouier pill pose to tliel
Letltir inlMiniiice The point Is ilia
io.o nieir position m one of Hide.
Wilson's Opinion of Labor
Before He Entered Politics
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mm Tone citrv 9mm w, not.
Mam, Jkfatm imoi,
Vraitirat mnoetoa Uilf sTtlty,
frlaMtOB sTa
0irilr: '
- la th Sew York XltMt of Im 14, wMori porporti to glv v
trtota of your baooaloureata addreaa to the atudenta of Prlneatosi tfel
'aralty you ere quoted aa follows:
"Tou 'Knew Mhet the usual standard of the eaploy
la la our da. It 10 to gle as little aa he may for his
wates. tabcer la standardized by the trade unions, and thlt
la the stariCard to uhloh It lo'tnade to oonfora. . Ko one la
suffered to do more than the uverage frorkaea oan do In
sobs tradea and handlorafts no one la suffered to do store
than the least skilful of Ma fellows oan do within ths hows
slloted to 4 day's labor and no one nay fork out of hours
St sll or volunteer anything beyond the BlnlBua"
Mow, your reported remarks ctrlko re as being so eitraordl
nary so different from what I, ns a member of organised labor, hare
found to be the faotn that I feci ltnpolled to ask you If the foregolas;
paragraph la a oorroot roport of "hot you sold.
If you aro oorrootly quoted, I should llko to have you give
as your authority for your statsnent that in labor unions "no one Is
suffered to do nora than the avoroco worknon oan 3o Also give ae ths
names of s few tradea or handlorafts where "no one. la suffered to e
ore than the least ekllful of his fellows oan do within ths hours
slloted to ,a Cayo lobor, and no omo nay work out of hours at sll or
volunteer anything beyond the nlnlenau
Aa a aatter of oourse, a president of a university of , ths.
reputed standing of Princeton would not make statements in his baoos
laureate addreaa unless he knows, or et least fully believes that Ms
ststsaenta ere true. Therefore It ought not be a difficult natter for
yen to oblige as with the names of those labor unions whoae laws, sr
svsa pollsles, bring about ths results you speolfy.
Awaiting yot.r reply with lively Interest, l aa.
Tours very truly
Svsalng Telegraa.
Rev York city.
fa
s -
ttaa waffsaam
sswawait, s 4
im lath, 109.
My liar girt
Your ltttar of Jtavt 16th eentalna a vary prepr
ehallang. X quite agraa that X 0Uht net to wait the ataU
aanta X did sake abeut the traMe unions, unlasa X were
aMa is alta aaaaa In vtrif Iratlen of wy ttatsMnlt.
X, of course, had n ladlvldual tradts unlrna Is
mind which X tan nana by wkr, but X had In mind aavoral
casta of buildings In Ntv York City, for xrep, tv.a brick
layers working on which saant about on third of tKa working
day sitting areund, sseklag tholr -Ipsa and chatting, bo
casse they had laid tho vaasbor of bricks to which thoy war
lladtod for the day by ths union to which thoy belonged.
X had in Pdxd auaarvvs esperloncos of ay own in dealing with
working awn la fr lr.ee tes, where X ones found It Impossible,
for asaasla, ea s very aeld evasiag to get a broken window
fas sjrnisd at the hsuee of as lavalid friend, because tho
prescribed labor houro of tho day vera over and the
glasler could not venture, without ri eking a strike ta
do the work himself and could not order any of hie workmen
to do It. I had in rdnd eeoree ef instances, in short,
lying within ery own experience and raeting upon tho tootl
riony of' friends in whoso veracity X havo ovjry reeicn to
have the rreatsst confidence.
I of ecurse could not, in tho case of more than
one or tee of these instances, give legal proof of my
assertions, but the evldsncoa X havo are entirely sufficient
to convince me of the general truth of tho etattasnt X made.
Very truly 'yours,
Ur. Tat.tr R. Lavarty
Labor's Opinion of Hughes
After He Retired From Politics
"HE WAS A GREAT GOVERNOR"
"Now that Governor Hughes has retired
from politics and ascended to a place on
the highest judicial tribunal in the world,
the fact can be acknowledged without
hurting anybody's political corns, that he
Was the greatest friend of labor laws that
ever occupied the governor's chair at Albany.
During his two terms he has signed 56 la
bor laws, including among them the best
labor laws ever enacted in this or any other
state. He also urged the enactment of la
bor laws in his messages to the legislature,
even going so far as to place the demand
for a labor law in one of his messages to an
extra session of the legislature.
"Only 162 labor laws have been enacted
in this state since its erection in 1777 in
133 years. One-third of these, exceeding
in quality all of the others, have been en
acted and signed during Governor
Hughes's term of three years and nine
months.
"With such a record of approval and
suggestion of progressive legislation in the
, interest of humanity to his credit, it is easy
to believe that human rights will have a
steadfast and sympathetic upholder in the
new Justice of the Supreme Court of the
United States."
From the October, 1910, Issue of Legislative News.
Published by New York State Federation of Labor.
Labor's Opinion of Hughes is Based on WHAT HE HAS DONE
These Are Some of the Laws He Advocated and Signed While Governor of New York:
Wainwright Commission of Inquiry.
Automatic mutual agreement compensa
tion law.
Automatic compulsory compensation.
(The first law of this kind enacted in the
United States.)
Limiting the hours of labor for street car
men.
Limiting the hours of labor for men in train
service.
Limiting the hours of labor for signal
men and railroad telegraphers.
Placing young women from 18 to 21
years of age in the protected class.
ELEVEN CHILD LABOR LAWS ex
tending over a period from 1907 to 1910.
(These laws secured the first definite
standard for the protection of children
in New York.)
Reconstructed the State Department of
Labor. '
Changed the penalties to make enforce
ment of labor laws easier.
Requiring semi-monthly payment of
wages.
THIRTEEN LAWS relating to welfare,
safety and sanitation in workshops.
Republican National Publicity Committee
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pendente mup.iivd with that of two
;tain null.
. .... amy tiear that If ieaiJ
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