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^ ^ IS8UBD SEMI WEEKLY. 1 _ ^ ZriiiromsTsliONsrpijbiuh^i^^ 5^ " TERM,H^^rifii ^*?S!,T* \ - ... 4 1 ^ ? i i i i , i i M _ ' - , . i ,' ^ .1. "' ESTABLISHED 1855 YORK. 8. C., TPlfeDAY, SEPTEMBER 9, 1919. - NO. Vfe' WAR TAX SYSTEM WRONG Financial Exoert Points Out Serious, '* Defects. , Tllf BURDEN ON THE POOR MAN Pisa for tht Small Investor?'High i Prices Caused by Unscientific I Method*?Taxed Capital Collects Toll from the Public. i New York Tlmca. ; Id a memorandum to "a public n an ' in Washington," given out by its ! author, Otto H? Kahn .of the firm ' of Kahn, Loeb & Co., suggests the cp- 1 pointraent by the government of n n< n- ' political body of experts to study the 1 effect* of the various kinds of taxation ( which have been in force during rind ' sinbe the tremination of the war, and ' to make recommendations to congress ] based upon such study. Mr. Kahn, ' ...u? ??Kmino,i tho mflmnrandurn in rc sponse to a, request from tho unnamed : official for his views on the high cost of living, makes plain that he bclicvee c it to be demonstrable that 'the unscientific system of taxation adop.ed ^ in this country since 1917" has played a considerable part in boosting prices. Denying that it is his wish to object 1 to the obvious purpose underlying our war taxation, to impor.e the greatest burden upon those best able to bear it. [ and agreeing that taxation must be laid in accordance with the dictates of " social Justice, the banker conclude: , \ 'that the very extreme of tho burden r laid upon business and income has partially defeated the purpose which tin 1 farmers of our taxation legislation ap parently had in view, and at the same ; time%has given rise to certain unforeseen and troublous developments?a: ? invariably happens in ^he case of ex ireme measures, especially wnerc evuuomlci are involved. Now that the emergency of the war is over, I bclifcvf that the entire matter, should be subjected to unprejudiced and compete n' , critical review/ Tax on Industrial Investor*. After conceding that the farmer, th< wage worker and the salaried man ant' ^ woman are entitled because of th< diminished purchasing power of the - dollar tb a proportionate increase Ir income, the rpemorandum Insists tha' the owner of industrially invested ca;) ^ itai hai suffered similarly, while in addition thereto he is subject to a heav.< ejuuma profits tax and, it- his income i* v larpr?t.to -an income tax of unporalleltM severity. Leaving out! of account, hbv/ over, the relatively mi*ll nnmber -vi those (A possession of large incdme and defining owners of industrially In vested Capital as, primarily, the store keeper, the average fnerchant. and th( millions who derive their incomes, til or In parti from investments in cor poratlon Securities, Mr. Kahn urge ' that SUchj "by the same token as the the ti-Ae-o worker, and thp snl. arted mail, feel the need of a larger re- ? turu thalt formerly." To emphasise his argument tha' spectacular earnings of certain indi ] vidualB kt\d corporations afford m ^ Just criterion as to the earnings o business as a vtfiole and to show that there are humerous cases where earn- ) ings hftVfe shrunk since the war, the writer qpotes from a recent investign tion irl England, where, lie says, con ditions appear to be similar. This in vestlgdtor concluded that the increase in cost Of Certain articles du! ins: tie past twb years as compared with tin two years before the war had been di vided so that 57 per cent, went t( labor, 40 per cent, to the stall through taxation, and 3 per cent. t< capital. ' i ThUB it 1b set forth that the returi on industrially invested capital m ' doubt has been diminished on tin whole, Mr. Kahn arguing: that if it la taken into consideration that the pur- , chasing power of the dollar has shrtuil nearly opehalf, it will be seen that tin actual yield is much less than it waf prior to the war and that there har . taken place in fact a drastic readjustment in the distribution of the na tional Incomp. Noting thai the excess profits tax for this year while reduce* "is still very severe," Mr. Kahn as sumea the case of a corporation whosi excess profits tax amounted under tin rates prevailing until this year to 4( per cent, on profits over and above "nr aibitrarlly fixed and, everything considered, low return on money actuallj invested in business." It was impos sible, he points out, for such a busines* to make one dollar profit over ant above such arbitrary return without charging to the purchaser something . over two dollars, it being pointed out that earnings were subjected in addition to an income tax of 12 per cent. , The government, the memorandum remarks, takes the difference. Effsot of Excess Profits Tax. Most articles before reaching th'. ultimate consumer, the banker continues, pass through several intermediaries, each of whom is subject tc much these same conditions. He concludes his discussion of this particula: tax with these observations: "The excess profits tax has tende<" furthermore tov increase actual cost oi production, inasmuch as costs natural- , ly are deducted before taxable profits are arrived at, and, therefore, undo the operation of the excess profits tax. there is not the same inducement asunder normal circumstances to keep costs down as much as possible, but in fact rather the reverse. Nor is the:< any longer any inducement to emplc> accumulated profits 1n the business without capitalizing them, which, oi 9 course, makes for lower cost of production." On the contrary there is every inducement to capitalize every justifiable. item?and this makes for higher cost. "The excess profits tax in peace time must not be confounded with the wffr profits tax in time of actual warfare. A war profits tax, however heavy, Is wholly sound, morally, socially, and economically, and its effect on prices is, largely mitigated through circumstances and agencies which are operltive when a country Is at war. 1 "The objection to a very heavy excess profits tax in peace time rests not io much (m? equitable grounds as on :he ground that on the one hand it does lot, atxi cannot, accomplish the social purpose aimed at, and on the other ( land it tends to hurt trade, discourage mterpriscs, and burden the pubiic. Dur excess profits tax certainly has lot stopped, but rather has intensified vhat is commonly termed "profiteer- , ng." "If ever the American people should each the conclusion, almost lncalculibly far-reaching in the ramifications >f its effects, that profits are to be imited to a definite maximum, they vHl have to accomplish that purpose )y direct statutory enactment. It canlot be accomplished by excess profits axes.' , Incentive to Extravagance^ Expostulating the income tax, Mr. \ahn in his memorandum observes hat one of the most valuable by-proiucts of wise taxation is the promotion >f thrift, biit says the present tax, by eason of the kind and manner of its rradatjOn is a breeder of extravagance ind thus of higher prices, there being l general sentiment against saving so ong as "the government takes it away, n chunks." Moreover, the investor, to ( ecoup his income tax, demands higher j eturn from securities^ tjius enhancing j he cost of capital and'once more raisng prices, or else buys tax-exempt j nunicipal, state, or government bonds, j hus reducing the quantity of funds t iv^xiiaoie ror private enterprise, a coiateral turning to "get irich quick" chemes is noted. V. Space is devoted in the memorandum . o the effect of the tendency to buy t :on-taxable securities, or at J^ast ( hose yielding higher rates, upon our T xport trade, the banker arguing that , hus tve do not buy as we should, the , ecurities of foreign nations to which , ire wish to sell goods, while this atti- , ude militates further against our ca- j iaclty to come to equal England as an ( ntcrnational money center. "FurtjKJrnjpre," he # continued, "a c ery ^nfprtunato imprensiofi is created L broad by* the fact that at a time when t re alcne are capable of supplying the r ations with urgently needed funds, we t ail to do so .adequately, and when we c 0 accord loans to foreign countries, r xoct. very onerous conditions. The . ault is attributed to the American _ / H haracter, when, as a matter of fact, c he cause?apaVt from natural condi- ? ions?Is primarily due to our taxation j leasirres. "The housing famine and the result- ^ lg hardships and high rentals are due, j 1 considerable part, to the fact that r he private investor, generally speak- e ig, has withdrawn from the field of c eal estate mortgages, because they do ot yield him a sufficiently attracti\Je e eturn after taking into account the f lcome tax. c "My criticism is not of the magni- c ude, but of the method of our tax |, icasuifs. My pouu is mai we nave (, mmittcd to impose certain easily j orne, easily collected, greatly produc- ( ive and/ well tested taxes, such as? c 0 quote only one minor, but character- j. stic instate?a stamp tax on checks, a nd have grossly maladjudged others, /ilh the result that our revenue legisition has largely contributed to throw ur economic equalibrium out of gear -to the detriment of everybody, and articularly to the great cost and lamage Qf the masses of the people. realize, of course, that even If strict ;overnmental economy is practiced, we re faced with the necessity of raising 1 vast sum of money annually bv tax- . ition. But I am convinced that the leveled amount can and should be vais(1 with far less complexity, vexation ind economic dislocation and disadvantage than have resulted and were >ound to result from the revenue neasures now in l'orcc." Federal'Bureau of Salvage Urged. Another suggestion in the memoranlum is for the creation of a Federal iureau of Salvage, Air. Kahn stating . hat he learned in England in 1918 ; hat a similar body there had saved . he nation in three years $500,000,000. < rhc thrift lessons of the war, the fl- , lancier adds, are being unlearned \ apidly and the teaching of thrift , neretore is suggested as a further . "unction of the proposed bureau. , A ( general staff on economics during the | eadjustment period is the final sugrestion, Mr. Kahn writing: "it would seem to me that the ap- . >ointment by the government of one or nore non-political commissions, con- , listing of business men. workingmen, aimers and economists, lor the purpose of making studies and recommenlations of a non-partisan basis, would it ill be of great advantage to the ountry at a time when grave economic, social and financial problems arc pressing for solution and both the "xecutive department and congress ire greatly overworked." Furman University at Greenville, i proposes to erect a new dormitory j within the next twelve months .at a j ost of $200,000. Many students now! have to rent rooms in the city. I EQUALIZATION PROBLEM York County Merchants Have Conference With Tax Commission. / * PURPOSE IN VIEW MUCH CURIFe No Desire to Get More Money out of . Any Except those who are now Paying -Less Than'the Others?Commission Proposes \io Check 4Jp All Dodgers and Make them Sweat. Between forty and fifty York county merchants fairly representative of all parts of the county met Hon. W. G. Querry, of tho state tax commission In the courthouse, last Friday pursuant to the published invitation of Auditor Love. ' The meeting had its origin in mis -1?nnrl nr\-n f nainn trrnwinff u[iuuraiuiiuiii? uuu wuiu?iv?i D w ...q aut of the efforts' of the state tax commission to secure an equitable reidjustment of property values throughout the state, as assessed for taxation. The first general shake-up in connection with this ' matter occurred jeveral months ago when the tax commission sent out questionnaires that sought to get at the true value of ^all mercantile property, with a view to lrnivlng at something like equalize-, tion on a basis of 42 per cent, of such rue value,/ The returns made out in accordance with the questionnaire of the commission naturally- showed results in ilarmjng excess over those previously iled with the county auditor, and one )f the most immediate outcomes of the whole development was more intelligent and deeply concerned considera:ion than the tax assessment subject lad received for more than a generaion. ? Why is the state tax commission >icking on the merchants? Does it ex>ect the merchants to pay all the ;axes? Why should the commission vant to make merchants pay on mortrages, bills receivable and the like and lot require other people to pay on the lame class of property;' Tnese were ;ome of the questions that arose in :onnection with the whole matter and vhen lists became available showing vhat the different merchants of a riven locality were giving in as true 'alucs thorc was naturally a considerible amount of comparison that still art her added Wo the general stock if dissatisfaction. # At various local meetings throughiut the state, including different parts tethe-^ouMy, it developed that many if the returns to the state tax comniselon appeared to be far short of rue values. It appeared also that *a certain number of merchants had made io returns at all. As the outcome of hcqe developments a conference was irranged between York county merchants and the state tax commission, ind that explains the meeting that was ield in the courthouse Friday. J. S. Brice, Esq., acting for the audlor, explained the object of #the meetng. He told how the state tax commission, although established for sev cral years, is now pnly fairly getting in its feet. The commission has dis-. xetionary powers as- to assessing propxty, and is in no way bound by the Indlngs or recommendations of the county board of assessors. The object if the commission and the only object fi to secure equalization, and because if the extent of the undertaking that s a slow and tcdJoiis job. There is no dea of discrimination against the mcr:hants or any other class; but it has icen held by the courts that in accordirtcc with the constitution equalization ;f all property in a class?like mercantile piopcrty, for instance, is all iglit. The commission is seeking to iccure the assessment of mercantile jropcrty at 42 per cent of its true nlue, and after it finishes with mer:nntilc property it will be ready to ake up the property of other classes. -Ic went on to explain that while the intire tax commission had been exacted, it was found that the other nembers could not come, and Mr. iuerry was here with the full power to ict for the commission. He pointed >ut alsf that no doubt some of the nerchants had made improper returns jnder misapprehension. Mr. Querry lad these returns with hira and would gladly permit such corrections as night be proper. Mr. Querry made a few remarks llong the lines previously followed by Mr. Brice. He stressed the ridiculous situation South Carolina has been in for so many years in the matter of tax ?quallzalion, and explained some of the steps that are being taken in the [lirectlon of correction. He said that so far the tax commission had added to the list of taxable property several millions of dollars* worth of stuff that had been escaping taxation altogether. Without mentioning names he gave several specific instances of firms"thai were worth hundreds of thousands of itollars that were paying on less than one-twentieth of what they were worth. Many of these had been required to go on the books on a basis of 42 per cent of the true value of their property. He said that the commission has the name, address and worth of every merchant in South Carolina, and all of them arc going on the tax hooks on a basis of equality with all other merchants. If anybody who knows of anybody who has escaped and will get the information to the commission, the commission will see that they go on the books as they should. In his talk he took occasion to say on his own account that he was not working J / in ihis matter for salary; but in the hope of being abfe to do good for the state. His salary was $5 a day and expenses and any merchant who had a business that was worth anything at all, could easily make many times that amount. Mr. Querry announced his willingness to answer all questions that might be asked of him to the. best of his ability, and many questions were askedThose merchants Dresent who desir ed to do so were permitted to revise returns they had previously made to the tax commission. 500,000 KILLED BY INFLUENZA. Ten Times as Many Americans Killed by Plagues as Met Death in War. x The rate of mortality which Amrelcan life insurance companies had to meet in 1918 was about 32 'per cent, higher than theroverage death rate for a score of years. > This is the Statement in a summar/( made public recently by the Insurance Press, reviewing the life insurance distributions last year by insurance organizations operating in the United Stated and Canada, , including ' the transactions of tho Bureau ' of War Risk Insurance of the United States government. Ton persons died from Jnfluenza for each American soldier killed in battle, the report said, placing the number?of influenza deaths at a half million. Asserting thai influenza was mainly responsible for the increase in the number of deaths, the report con tinues: j "Thirty-eight life insurance companies paid $93,000,000 more than in 1917 for death claims and endowments. The increase in dcatjti losses paid by legal reserve companies was approximately $123,0004000 in the United States and Canada on lives undor .'the age of 50." The Insurance Press conflrmo a report of the Connecticut Insurance Company thnt ywar cldims, meaning all deaths suffered by men in the pervice, not including influenza, were equivalent to about a 6 per cent, increase over normal mortality. On that basis the war losses by life insurance companies of the United States in 191S amounted to $23,000,000. War mortality, it is said, will continue in a decreasing proportion for frotn 5 to 10 years, Inasmuch tu> wounds, disf&sos contracted, effects of poison gh3, Bhell shock, etc., will impair many livc3. Tuberculoma, Jit |s said, was thq. basis df nfflBet 30 per cent, of all claims Dy one company under tne total disability provision of Jts poll- ^ dies, while only 4 per cent, resulted ? from accidents. ? It is pointed out that despite the persistent war against it *50,000 persons died in the United States each a year from tuberculosis. Life insurance distributions in this country and Canada in 1918 totalled ' $1,115,810,000. The largest payment on a single e life in 1918 was in the case of Robert , 'A. Rowan qf Los Angeles, al., the r amount being $575,000. The rank of the first ten cities, based on the amount of claims paid u by insurance companies, follows: New a York, $37,412,000; Chicago, $17,500,000; * Philadelphia, $16,900,000; Boston. $6.800,000; 'St. Louis, $5,850,000; Balti- c more, 54,750,uuu; i'lttsburg, 54,489,000; r Cincinnati, $4,309,000; Los Angeles, " $4,092,000; Cleveland, $3,820,000. FEAR AERIAL RUM RUNNERS. 1 j P Submarines Also May be Used, Com- 0 missioner Roper Believes. n Smuggling the rum running on a 0 largo scale by airplane and subma- ^ rine is looked for in the very near fu- 11 ture by Daniel C. Roper, commissioner a of internal revenue, and by other gov- v crment officials unless preparations ' are made in advance to defeat the 1 i wenuein ? eniury smuEgiers.-v There is reason to believe that some venturesome pioneers of this new c mode of smuggling through the air r have already landed several thoua- * ands of dollars' worth of aemi-prccious * stones from the topaz mines in Mexico somewhere in the interior of the 5 United States. ^At any rate, the menace to the national revenue has be como so immediate that Secretary ? Glass has decided that he will ask con- r gross for transfer of six hundred air- 1 planes and hydroairplaneS fro^i the 1 army and navy to his department, and funds enough to create an effective air patrol. ' * Later on he will ask also for the e transfer from the navy of a large fleet s of Ford eagle boats, which were spe- c cially designed for chasing subma- 1 rmes, in order to protect the seacoasts 1 and estuaries from the danger of 8 smuggling by submarines. Equipped * with those two modern craft for navi- 1 gating the sea and air the secretary ' of. the treasury believes that he will be able to interrupt any illicit commerce 1 intended to defeat the national pro- ' hibition laws, or to bilk the govern- f ment out of customs revenues. With the high development which ' has been accomplished in the building 1 of giant air and sea planes, treasury y officials say that there is almost no 1 limit to the amount of smuggling that can be carried on. It will not be long ? it is said, before airplanes will be used 1 capable of carrying a good sized car- ; load of freight. 1 The Great Cotton Mill of Augusta, t Ga., was destroyed by flre last ween \ entailing a property loss of $150,000. / LEADER IN FINANCE ... I- jj,.i > Congressman Sterenson Wins Re, , markable Distinction. PILOTS GREAT BILL THROUGH ROUSE * V Important Measure Intended to Bolater Up and Taka Cara of International Credit in Such a way as to Stfmulata Business in tha United States. Hon. W. F. Stevenson representative In congress from the.Flftl) distriot of South Carolina seems to be dropping Into the dominating legislative stride on the floor of the national house of representatives that he achieved in the state legislature and held as long is he continued a member of that oody. Previous to the' world war, preat Britain and Germany were the only two nations which had international mnjjjng systems anything like adequate to the requirements of,'international trade, Great Britain, of to'ursfe, coming/ first and N Germany recond, with such nations as the Jiftted States relyfng upon one or the >tt >emed to best suit the particua!* transaction involved. It is conceded all over the world that he Regional Reserve banking system >f the United States whifch first began ;o get into operation in the fall of 1914 taVed the situation for America in the vorld war, and not only for America; jut for the Allies. Except for this mnking system Germany would have von the war. i But whlle'the Regional Reserve bonk* ng system was quite / adequate for lomestic purposes And while under lormal conditions it would have rventually proved adequate for jnterlational purposes it was far from tdequate to the unthinkable interlational financial situation in which he world finds itself at the beginning ?f the great reconstruction period now lpon us. Both Great Britain and GeriKany lave fallen to the rear in matters flj. lancial and America) is now further o the front than'she has ever been; >ut still America is without the flnA/iAnaorll /% molfd idiitmi iiiawuuict j j ww *??? ??* he best use of her unlimited resources nd the conutruption of thjs machinery b the problem with which congress Is iow wrestling;. All of' the European countries .dro onfronted with - the need fpr credithe same need which confronted the dnth* i/t tfie <?T<S*c of the. CiYll Wbr. They all have the potehtfVf fftbources ust us the south had In her ability to ipoduce cotton; but no monfcy avallble for making use of those resource?, 'he need is for credit and cHdit from tmerica, the only country potentially ble to supply that predtt. Credit nachlnery involves more or less risk, n this case risk far to heavy tp be ncurred by private individuals or even >y such financial corporations as now xist. The committee on banklnf^&nd cur ency of which Mr. Stwratiion is a tiember; but which is dominated by tepublicans, had worked out a plan tnder which it is proposed to allow uch National banks^ membfers of the tcgional Reserve system, as desire to lo so, to subscribe as ml}fch as 6 per ent. of their capital stock tb Wg corlorations that will undertake the fllanclng of foreign- industrlfes of various ;inds. The plan worked out is satisactory to the committee; but from he nature of the problem, too comilicated for the comprehension even f.the average congressman, it was iccessary to have the mattor explained n the flooY'by some one/who would ie able to answer any question that night be asked and this duty, by greement of the whole Committee, ^08 delegated to Mr. Stevenson. How treU he did it is attested by the fact hat the bill passed almost without tuestion. The main part of the explanation la onraprehended In Mr. Stevenson's eplies to ^questions of ReprcsentaIve Reavls, a Republican lender from Nebraska, ar. follows: Mr. Reavls: "Will the gentleman ield?" Mr. Stevenson: "Yes." Mr. Reavls: 'The position of the rentleman, I take It, is that with Euopc in its present condition it would >e impossible for them to buy and iay for our products." Gives an Illustration. Mr. Stevenson: 'That is the sltuaion. I will give the gentleman an example. Take a cotton mill in Bel;ium just rehabilitated. That great lorporation was eminently successful >efore the war devastated the counry. It took all of their resources, abiolutcly to the limit, to get ready to >egin and erect a splendid plant, vhich has a potential future, but It las been unable to buy the cotton. ?Vhat will It do? It can issue bonds o the bank in Savansah that handles he bills of exchange for cotton, but or the men handling these bonds it s too big a proposition. But if you lave bills of ^exchange, corporations hat can give credit for that purpose, vith an agency over there to finance md carry it on, they can investigate t and find out whether the bonds arc ill right. They can finance it and )ay for the cotton, and immediately he returns will begin to come to thts :ountry, and there will be very little oss, if any, and an immense amount >f trade which is exceedingly valuable vill come to this country.' Mr. Reavis: "The quetion was asked \ ? 1 i rm .vj ?\ _ . whether this was for the general welfare' and benefit of the banks. The great agricultural sections in this , country .produce an enormous surplus, v and If. they cannot dispose of It over seas, will not that affect the banks?" Mr. Stevenson: "I say it Is for the general welfare?for the good of the livestock of the west, the cotton of 1 the south, the manufacturers of the north and northeast." C Mr. Reavis; "And Incidentally to the banks?" Mr. Stevenson: "It will relieve the banks that have to carry these people. It a?ill not b^ likely to be a losing venture, for the gentlemen who t manage these things, whq have the 0 finances to back them up, are usually a flhle to take enre of themselves in i any financial deal, and the corpora-/ p tlon will not -be likely to lose any- s thing. If the bank has a surplus andf j, capital of '$100,000 it could not lose n over $5,000 under thh( bill I think t] it, means, in place of the. haphazard b method of handling the foreign ex- gl changes of this country, the getting f, together of the financial interests of the whole country and the pooling in 4 a few .great corporations of their a enormous assets, a little from each u one, building a powerful organization 0 which will always be able to handle j, our foreign exchange in such a way u that the ''fluctuations will jsut very 0 little ice when it comes to the final re- p suit, and we will be protected and our w crops and manufacturers will continue ;( to move, into world commerce as they/- n should do in the reconstruction period f, which is about to come." w ? fl SENATE WILL RATIFY. m President Urges Peoplo .H6 Utt Their (c< * J Inifluenoe. ^ | In the first speeph' of his trang-con- n tir.ental tour, President Wilson at Cpl- lc una bus, Ohio fast Thursday tarfed the oj American people to exert their influ- j] anno /ah oooontonon Kir thn T'nitoH |#*v VMMVW y, States senate of the peace treaty sign b( ed with Germany, and predicted thrt C( tJKc senate would ratify the treaty. w "When this treaty ia accepted," he c< said, "the-men fn khaki will never o) have to cross the seas again, and I H say when it is accepted, because it will tf be accepted.", , > , ^ Speaking, to a. capacity audience tc which filled every nook in Memorial j4 Hall, the president said it was not hja- D purpose during the frip to "debate" the treaty, but to expound it to the tf peopic. He declared there. was a con'- M fcert of feelingamong the AJlfod rep- j, Ka 223**^ f "We were under Instructions and we ? did not dare, come home without fuf* ^ filling thbse instructions. If I could'not ln have brought back tho klnd of a trea- ^ ty I did bring back, I n'evfr would have tc come back."1 " *' y t cl President- Wilson " appealed* to his C( hearers If they would not read the t? treaty themselves,- to at least accept ta account of its contents as given by those who made it He declared th? ^ only Dersons he owned a report to "ar^ ,w you and the other citizens of the United States." 0, He said such a report was necessary U] because he had read many epeccnes fj about the treaty and was unable t6 E gather from them much of what >fie treaty contained. C( President Wilson said the treaty un- b, dettook to punfsh Germany but that ei there was no thought to overwhelm- q ingly crush any great people. The rep- w aration demanded of Germany, he said, ja was no greater than Germany couln tl] pay. a< The president said he was "aston- ? ished" by many of the statements p made about the treaty, and said he at was convinced they had been made by tj, njen who had not read it or who had p failed to comprehend Its meaning. t( The league of nations, he declared, Cj was formed in fulfillment of tho prom- jE ise that the United States was fighting this war to "end business of that sort," foreyer. Xof to establish the league, ' he said, would have been unfaithful to those who naa aiea. t{ Besides, the president said, the trea- C( ty "tears away" the chains of oppression and gives small nationalities the right to live their own lives. "That," he said, "was the American position V( and I was glad to fight for it." The president praised the treaty proV" vision providing for an international t labor organization, which will hold its b( first meetng in Washington next month. He declared the meeting would be held fl] whether the treaty had been ratified by the senate by" that time or not. b ' ' tl Empty Gasoline Tanks Dangerous.? C( Empty gasoline-tanks are always more ^ dangerous than full ones. In most ^ cases residue remains in the tank or w can. The remaining gasoline vaporizes a| and is explosive. As the tank is being filled this mixture is forced out and tj will explode if ignited by a spark held ^ near the opening. ' a To guard against accidents, all open- in ings should be blown out with com- q{ pressed air. If this method cannot be in used the cover should be removed and the vapors fanned out. Unless a cur- ^ rent of air is circulating, gasoline a should never be used for cleaning engincs or other machinery; and if air b< is passing, lights should be kept at a safe distance on the intake side of the engine.?Popular Science Monthly. t. ? a Paul R. Earle of Anderson, captured at first honors at the Virginia Trap- la shooters' association in Richmond, Va., in last Tuesday, when he- broke 292 fe targets out bf a possible 300. . m PRICE OF COTTON SEER; tepresentitltt Comalttee ArfSn Upon Fair Casts. ^ IE F1GU1ES tmiiei ilTB MANET >p?ning Sohadula of |70 a Ton in tittjf load Lots, and W * Ton pff Wa#W Ragular Committda Will Nava Charts of Prieaa, and Will Ko?p Tjiam Equittbie. / /., Mr. H. E. Nell of the Yorkvllle CM* on OH Mill and Mr. J.E. BeamgflPpl f the Clover Cotton Oil Mill were mong the York , county oil mill men /ho attended a meeting of cottoprapd iroducers and oil mill men from ections of South Carolina held in jmbia. last Thursday. The oil 2iJ\ len agreed at the meeting to cstabWj^ he opening cotton seed market on^g asls of |70 pet ton as a fair prlce ^sr eed In carload lota - and ,$$ per IB?.' rom the wagon. This price was fixed after two hotfjgM lac ass ion and after the meeting had greed that seed should sell accord' ig to the value of the by-prodi&y. ii, meal, hiflls and Haters. In swato ig at tlft price yr^loh was agty?l pon the committee based Its figures n the prevailing figures for thi '.ragf \ roducts yesterday and the seed prfop 111 fluctuate up and down as th^pe >ur products rise and fall. The oMsf'j littee calculated that the gross wUSp:pm a ton of cottonseed ^yestardjuf oujd have been lltlf and from -tjjj* gure deducted v 6 per. cent, for Abe 'ill s profit. $16,60 for manufactu^#* sets. $2 for freight costs j>d G nn snt. off for the preyent green coidfr. on of the seed/ From these flgufim was unanimously a|npw urni mr till* would p*y $70 per ton for cpfrads cf ceod and $67 for those Dougjtt T wagons while dealers' allooff# I con.mission a top, the tame as l&pt ear. This price Is"$0 above Fh*t cing paid Wednesday morning. T$? jmmittee arriving at t^tese prices as elected from the house and tv&j imposed of .two ?eod dealers, ttKf II men. turo . farmers and Arris. Following^ loathe personnel pf ie body: B, Harris, Columbia; % toel oCSalnda, C. C. McAttly of Chef. t, E. W. Dabbs. pf? HayesvlUe, Uifrinnings of Sumter,; Russell Acres of ailing ton. J. J. JLawtop of Harts vl^ After the adoption of th? WjWR#r: res^t awptfer * prlot*< dustries, as chairman; L. IX Jon ings, Sumter; Husseit Aoree, uanrag?n; G. C. McAlily.Chester,' The aUffi lemist is to ?err*-'as secretary of the ranaktee without'aVote. The HfP*' > be paid will be in eVcn or half'a&ird. tbuS eliminating the oddoentg^, Those attendi/lf the convention i: pll mill men, if farmers and four r >ed buyers. A thoroughly co-opelTtve spirit was manifested. from. itset and many tlllhfs formerly arte* nderstood by b6th mill #ian irmer were oletirM up yeatesdMir very speaker oh the floor yeaterffcT nphoaized that tO bring about begJW >nditions timong the farm era and*t?ifct jild up the crushera' industry cof|d|? atlon must be the Watchword, eLit. assets of Alabama,' formerly of tJW, Jttonseed division of the food admjbBj^ tratlon, made the main addresaflW* tG day and start*! the movement to ljust the pried. 'During the committee deliberation rof. A. P. Conrtdj,. secretary, of (tfyA ate crop pest commission, tofd'm^ ie boll weevil conditions lp the state.. fe said the weevil going to be sriplnated soon gnd with the proper ire exercised by'farmers, will be tatcd to the leval of the potato fcug image each yeoi\ , ' ' iQfri . ' Relation of PSSt|l#Moe to War.?Srif* ' cient time has not yet elapsed to oe rmlne the indirect effects of the h^1' ;nt eruption of ikodnt Kloet in JaVtr,'', hich wiped out over a score of iges and killed tboue^nds ot the ves, but recollections of KrekatdbW' . .. . _w._w Dicanic ouiuum in 1000 woivu wn^nv x weeks sprinkled its fine lava dlUt ver the whole wortd, has given an'ljfer treating suggestion to certain men** era of the medical profession. Durr ig the closing year of the war an &? uenza epidemic lifted In many pa$f r the world. . Thi, manner of lta ajltreak in different counties iQdicei^|r tat the germs of the disease had beftu >nveyed by the currents in the .sJfcj' he theory, therefore, has roached that the poison gases hlch?many sectors of the flghttM' rea were drenched were carried;?' le wind in every direction, cauatyjfg. ic influenza outbreak In Spain; <3erlany, England,' France, South Amj|i? t, Australia, Africa, 'Asia, as wsltffiji i the united stares ana some or ?m entral American countries. That ifluenza is . corollary of the warijjt^ ndoubted. Any similar gigantic coftct, is argued, would bo attended w^' similar widespread pestilence? her reason why every effort should i made to avert wars In the future^* cslie's. ' England is said to be suffering frdpi shortage of clergymen. The reason isigned are that many served in t$f te war as chaplains and will remajg ?hi> uapvI/.a uhlla an >h? nthar httdJk' w persons wofe ordained as clerg|y en daring the siv*r. ' " 'V-Y .