The Birmingham age-herald. [volume], August 25, 1914, Page 3, Image 3

About The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950

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CONGRESS HOPING
TO OBVIATE NEED
OF THEM TAX
Underwood Prepares the
Emergency Bill Against
Unhappy Development
JJQUOR AND TOBACCO
I BEAR HEAVY BURDEN
Country Endeavoring to Bluff Mer
chant Princes Into Re-establish -
nient of Marine—Morgan’s La
ment Gives Satisfaction
By C. E. STEWART
Washington, August 24,—(Special.)—Both
the hope and determination of the ad
ministration to avoid an emergency war
tax, with which to counterbalance the
^shrinkage in customs receipts, were de
clared to be stronger than ever today.
The purchase of a fleet of merchant ships
was designed by the President as the
most practicable preventive, and now' that
Congress has enacted his suggestion into
law he believes that no war tax will be
necessitated.
Primarily of course the President is anx
ious to keep the wheels of business in
this country moving, but beyond this he j
wishes to continue the nation's imports,
aft that the revenues from duties may
be maintained at a figure whicli will pre
clude a w’ar tax. To friends he expresses
hope that in providing ample means of
transportation across the ocean foreign
trade may be kept up. even though the
war in Europe should last a long time.
Should this plan prove ineffectual, he
believes there will be ample time to talk
about stamp taxes and similar annoying
burdens.
Moreover, it is apparent now' that in
instigating the government purchase of
merchant vessels the President had hoped
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“CITY BEAUTIFUL"
IDEAipCKSON
Movement to Beautify Mis
sississippi Capital Will Be
Made First of Year
Jackson. Miss.. August 24.—(Special.)—A
city beautiful movement is to be inaug
urated in Jackson the first of next year
just like as lias been dune at Birmingham,
Shreveport and other important towns
during the past year or two, adding
greatly to the appearance arfd attrutive
ness of their streets. The fact is, tills
lias already been done to some extent,
several streets In the residence portions
of town tiaving lieen highly ornamented
by the planting and cultivation of ever
greens and flowers. These are placed on
tile edges of tlte grass plats in front of
residences, and several of them have been
made very attractive.
But flowers are not the only things (o
he planted and cultivated. Ail vacant lots
that are now given over to grass and
weeds are to be spaded and planted to
vegetables, provided the owners will
agree to the improvement. A gentleman
who is recognized as good a gardener as
there is in Jackson has agreed to take
charge of the work and to show the girls
and»boys of the town how to raise vege
tables or flowers. He prefers the vege
tables, believing them more attractive
because of the returns of sales.
Ill most every city In the state there are
vacant lots that could be utilized for '.Ills
purpose, and once the school children are
Interested In the work, and after the lots
are gotten in good garden shape, there is
hound to be sufficient profit to make the
work attractive to the small boy. At the
same time he Is learning something that
may he to his advantage In years to come
when he has a family and a garden of his
own to look after.
that this step would bluff private capi
tal In this country into the business. He
Is known to have been greatly pleased
when J. P. Morgan called on Secretary
McAdoo of tlie treasury and protested
against (he government going Into the
transportation business.
As the President sees it, if the Mor
gan interests and other great financial
combinations can he moved to rehabili
tate the United States merchant marine
the government will be glad to step
aside and leave the undertaking to pri
vate concerns.
At the same time it is known that Rep
resentative Underwood and his associates
on the ways and means committee are
working steadily on the foundations of
a bill for an emergency war tax, if nec
essary. No formal meetings have been
held to consider the subject, but infor
mal Interchanges of views take place
daily and the Initiators of the nation's
business operations are getting close tu
getlier In their opinions.
No intimation of the articles on which
such a tax lXght he levied has yet been
allowed to escape from any tongue, but
for some reason belief prevails that liq
uors and tobacco will be tlte first arti
cles selected for the stamp Impost. Pro
tests against the designation of \artous
articles of commerce pour in daily on
Mr. Underwood and his confreres, and
manufacturers and dealers in every com
modity. front liquor to licorice, from dia
monds to delicatessen and from cloth of
gold to golf balls express irrefutable ar
guments why their articles should not
appear in the tax.
The committee, however, will regard the
question solely from a business viewpoint,
with the intention of raising the great
est amount of revenue with the least
burden to the people in general, and by
spreading the load as lightly as possible
on the shoulders selected to bear it.
f -V . ■
" A Tailoring
Announcement of
Interest to Birmingham Men
IE announce the readiness
of our complete line of
patterns for Fall suits.
The latest exclusive, fine imported fabrics have
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28th St. and 5th Ave.
NEW YORK
. •
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HARDING’S SERVICES DEEMED I
OF GREATEST IMPORTANCE 1
- .. 1 ...
Holland Expresses Views
Held By Birmingham Man
Regarding the Cotton Sit
uation In the South.
it? 1101,1, an i>
New York, August 24.—(Special. »—It is
spoken of here as highly fortunate that
the federal reserve board should at this
time and at the moment of its organiza
tion contain a man of the peculiar and
especially valuable experience which
characterizes Mr. Harding. As president
of one of the largest banks of the south
and having shared in many of the influ
ences which are reflected in the great
growth of Birmingham and, furthermore,
being thoroughly familiar wit^ the cotton
industry in all its phases, Mr. Harding's
experience will he of the greatest value
at. this time. He spent some days in New
York city recently, coining here within
a fewr Hours after the announcement that
war had begun on the continent «>f Eu
rope. Mr. Harding was already known
personally to some of the leading finan
cial authorities of New York and moat
favorably known to all of them. There
fore what he said both for publication
and in private conversation about the cot
ton situation in the south at the time was
regarded as very important. As a mem
ber of the federal reserve board, he will
be in condition to give good counsel when
questions come before the board w hich re
late to banking facilities of the south and
the part the banks of the south have
borne in financing the needs of the cotton
growers.
Mr. Harding is persuaded—and he per
suaded men of tho financial districts
wThom he met—that it is of the utmost im
portance that the cotton growers of the
south he protected. He went so far as to
recommend that as much of the addi
tional currency for circulation which may
be issued and may be needed for the pro
tection of the cotton industry of the aouth
be applied for that purpose by the banks.
Mr. Harding intimated to his friends in
ihis eit ythat some features of the situa
tion are properly in control of the banks
of the south. For the most part, the cot
ton growers, if his information were cor
rect, have received abundant advances
from the banks. They were able to make
loans at the time of planting. They are
not likely therefore to be in any immedi
ate distress unless the banks should in
sist upon speedy and full payment of the
loans.
Mr. Harding’s View
Mr. Harding's view' is that the banks,
which are abundantly .protected by the
cotton itself, should not undertake to
force a market with intent thereby to se
cure payment for their loans. They
should instead deal out, so to speak, cot
ton as it is needed from time to time,
having in view the maintenance of a rea
sonable pride for it. They can in that
way gradually liquidate their loans.
In Mr. Harding’s view, something of
this kind will have to be done for the
protection of the farmers who have
raised grain this summer. He has no
doubt that with the facilities which would
be provided as soon as the federal reserve
system is in operation, probably not later
than six weeks hence, it will be compara
tively easy to protect the farmers and the
banks as well which have, made advances
on the grain.
A few days ago at luncheon hour Secre
tary McAdoo had a private and wholly In
formal conversation with two or three
friends in this city. They were impressed
by the earnestness and by the evidences
of a desire on the part of the Secretary
to utilize the resources of the federal
treasury as far as may reasonably be
done for the protection of American busi
ness and commercial interests, and the
American money market. At the lime of
this conversation, it was not know that
the Bank of England contemplated the
establishment of a fiscal agency, so to
speak, at Ottawa, wrhere American gold
could be received and utilized by the
Bank of England. But from some things
which the Secretary said informally the
inference was strong that had he known
at that time that the Bank of England
W. I*. G. HARDING <
••••••••••a
purposed the establishment of an agency ]
in Canada, he would have counseled ut- (
most caution and moderation so far as the
utilization of American gold is concerned.
He would have felt that if in this way
anything like an open market for Amer
ican gold could be secured there might
be danger of a great depletion of our gold
reserves. Therefore It was presumed in
this oily that while it may be deemed ex
pedient by the bankers to prepare for
payment of American securities which
were sold just before the war began,
nevertheless It will he the better part to
provide against any excessive withdraw
als of gold from the United States.
South American Trade
Mr. Harding was understood by his
friends in this city to be greatly inter
ested in the prospects we now' have of se
curing a considerable part of the South
American trade w hich until recently Eng
land and Germany commanded. He does
not believe that anything will be gained
by passing resolutions or speaking in a
sentimental way about the opportunities
which arc awaiting in South America. It
is a condition, not a theory. W'hich ex- «
ists there. South American opportunities
have recently been brought to the atten
tion of Mr. Harding in a somewhat im
pressive manner by reason of the bank
ing influence of the south and his knowl
edge that the opening of the Panama
canal will greatly Increase commerce be
tween the south and South America, es
pecially the west coast. It was learned
sometime ago that one of the best meth
ods adopted by American export ts to
South America would he found in the es
tablishment of greater credit, at least
longer time credit, than has heen the
custom of the United States recently. In
South America, long-time credits have
been the established custom. One of the
reasons why Great Britain and Germany
have heen able to gain such large trade
as they had till a few days ago possessed
in South America W'as that they gave px
tended credit, frequently as much as 1*J
months, with the understanding that the
credit might be extended for another 12
months.
The National City bank, which is now
undertaking to facilitate an increase of
South American trade, is in the position
to permit liberal credit facilities. In addi
tion. the men of capital of the United
States must he prepared as soon as nor
mal conditions are restored to make large
investments of their capital in South
America. An example has already been
set by Charles Schwab as representative
of the .Bethlehem Steel company and by
the Guggenheims. Mr. Schwab and the
Guggenheims together are preparing to
make an ultimate investment of consider
ably over $100,000,000 in Chile. Part of
this represents tlie* development of large
copper resources in Chile and part of it
the utilization of rich iron ore deposits
in that country. One of the reasons why
Great Britain and Germany have been
able to command so much of the South
American trade as they have done has
been found in the enormous investments
of their capital in South America. For
merly it used to he said that trade fol
lows the flag, but the experience of Great
Britain and of Germany in South Amer
ica indicates that trade more surely fol
lows the loans.
’•"••••••••■••••••••••••••••••••••••••••■•••••••••••a
PLANS PROGRESSING
Administration Appropria
tion Bill of $10,000,000 Is
Urged by Alexander
Washington, August 24—Plans for build
ing up a permanent American merchant
marine by the purchase of foreign ships
to be operated by the government went
forward today In Congress and at the
White House.
In the House Representative Alexander
Introduced the administration hill Incor
poration of a $10,000,000 company to own
and operate ocean steamers under su
pervision of a shipping board composed
of the President, the Secretary of the
Treasury, the Postmaster General, and
the Secretary of Commerce. The gov
ernment would subscribe for not less
than 61 per cent of the capital stock by
an appropriation. Ships would be bought
by the sale of $30,000,000 Panama canal
bonds.
President Wilson reiterated his deter
mination to urge the ship purchase plan
mid he said ho wanted It In operation
in two or three weeks. Reports that he
had considered the advisability of aban
doning the project, he said, were without
foundation. The fact that private capital
hod shown on indication of a desire to act
unless the government guaranteed se
curities. made it necessary for the gov
ernment to give the initiative.
Other plans for fostering American
shipping made little progress. The war
risk bllll, which already has passed the
Senate, was halted ill the House by the
failure of the ruleB committee to get a
quorum. Representative Alexander later
Introduced, a bill to authorize a special
rule for immediate consideration of the
measure with debate limited to one hour.
The new law opening American regis
try to foreign built craft on modified
terms, the f#st of the emergency meas
ures passed since the outbreak of the
war, awaited the President’s decision as
to suspension of certain sections of the
navigation laws. Advices, however, came
to officials today that fleets of the (Stan
dard Oil company, the United Fruit com
pany. and the United States Steel cor
poration would come under American
registry.
The administration bill for organize-'
tion of a federal steamship company
provides that the shares shall be $100
each, the corporation may begin business
as soon as 6i per cent of the stock has
been subscribed; and all not subscribed
by tbe public may be taken by the
government. Government ship* would be
excluded from the ooaatwiae trade.
yv, \eC-V.’.
-
FINANCES ARE
EIITEECHANGEO
Paralysis in Foreign Mar
kets Continues Greatest
Obstacle
N.*w York. August 24.—The beginning
°f tlie fourth week of Involuntary fi
nancial starvation finds little change
on the domestic situation. Paralysis
of the foreign exchange market con
tinues to be the greatest obstacle.
Discussion in high financial quar
ters centers in the extent of the coun
try's indebtedness in Europe. This sit
uation has been greatly complicated by
the enormous sums of money held in
France and Germany to the credit of
American bankers and which must re
main a state of rigidity for an indefi
nite period.
Because the London stock exchange is
considering the advisability of reopen
ing under very restricted conditions,
rumors were again current today that
the resumption of operations here is
not far off.
All such reports were deprecated by
officials as false and misleading. Un
officially It is believed that, even un
der tlie most auspicious circumstances,
business on the local exchange will not
be resumed for another month at least.
Sentiment in the west is inoro cheer
ful. The feature of the money market
was an increased demand in exchange
on Paris, cables to that center being
sought at 4.90 against 5.10 last week.
Exchange on London also was active,
at rates unchanged from last Saturday.
RESERVE BANKS TO
OPEN AT SAME TIME
Washington. August 244—After many
days' consideration the federal reserve
hoard has decided that It will open all
12 federal reserve hanks at the same
time and launch the new banking sys
tem simultaneously all over the coun
try.
The board is expected Yo take up to
morrow the selection of "Glass C" di
lectors of the 12 banks. This may take
several days, but enough probably will
be chojeti In each district before the
end of the week to make organization
of the Winks possible.
OSCARUNDERWOOD
IS WELL AGAIN
Washington, August 114.—(Special.)
Representative Underwood today had
recovered sufficiently from his Illness
tci resume work at the capitol. He
si 111 Is suffering from a cold and has
not yet regained his normal strength
after the fever, which kept him at his
bum*.
Gv
JALL CONFERENCE
AT LINCOLN SEPT. 1
Karmers to Adopt Plan to
Meet Cotton Situation
SANK ROBBERS FOILED
Unsuccessful Altcmpl Made l« Rob
First Nat tonal At Lincoln—Farm
ers* (»in Non Ready for
Business
Lincoln, August C4. (Special.) The
First National bunks nl Pell City and
Uncolii lmvc united in a call for a
neeting- of farmers and business men
if their sections lo be held st Lincoln
it 9 o'clock Tuesday morning. Sen
ember 1. in (lie high school audito
rium. The meeting is to consider and
idopt a pjaii of uniform action to heal
meet the cotton situation. l*ocal busi
ness men realize that by co-operation
losses due to decline in cotton can be
minimized and equalled A large at
tendance* is promised for the meeting
with excellent results to follow.
The series of recent robberies of
pcFtoffices at Pell City, Seddon and
Lincoln culminated last Saturday night
in an unsuccessful attack on the Lin
coln bank Entrance to the building
was gained but the steel lined vaults
resisted all efforts of the burglars. A
small properly damage was the only
harm done, and this is covered by the
burglary policy.
Burns detectives were rushed by au
tomobile to the Krone and are now
woiking on a strong clue. The fact
that the First National bank has the
latest and strongest equipment in
vaults and safes indicates that local
amateurs did the job.
Steam was gotten up a( the new
farmers’ gin plant here Saturday and
the machinery gh en a thorough try
nut. Everything worked as hoped for.
This gin is now ready for business
and cotton is expected to arrive this
week. The Farmers’ company also has
a large warehouse here of modern con
struction just being completed, which
will give ample facilities for storing lo
ral cotton. Its MeFall gin 1m also about
finished except for minor details that
will not delay immediate operation by
tho time cotton begins to move.
Only a Few More Days
of Women's Shoe Sale
Weed We Urge Promptness?
£>9 jjP
Choice of any cut steel
For the $4 styles or rhinestone buckle or
Amt ornament — HALF
!M.o5 PRICE
For the $5 and $6 styles Misses’ and children’s
m Am fine footwear at DEEP
VL/I PRICE CUTS.
For the $7 and $7.50 styles
1922 1924 First Ave. “In the Heart of Birmingham”
S. S. CONVENTION
AT MOUNDVILLE
Seventeen of Twenty-seven Sunday
Schools of All Denominations Rep
resented at Hale Convention
Moundville, August 21 (Special.)
The Hale county Sunday school con
vention whi* h has been in session Au
gust 22 and 23, at the Moundville
Methodist church waa considered by
many to have been the best conven
tion In the history of the Hale County
Sunday School association. Seventeen
of the 27 Sunday schools of all dc
nominations in tin* county were rep
resented. the deleoratcs coming from all
parts of the county.
Reports showed that every Sunday
school in the county had been repre
sented in at least one of the nine
district conventions held in the county
during the past >oar. and that every
ir" ..—
Sunday school hnil st*nt in a statistical
report and made a contribution to the
state ami comity work of the Alabama
Sunday School association.
The following officers of the Hale
County Sunday School association were
elected for the coming year: President,
.1 A. Baxley, secretary, W. E. W.
Y»-rhy: treasurer, E. M. Elliot.
Department superintendents as fol
lows: Elementary, Mrs. Julia Scar
brough. secondary. Mrs. John S. Pow
ers. adult. Prof. F E. Chapman; house,
Mrs Frank L*avender. teacher training.
Uev. l>. W. Ogletroc; missions. Miss
Alma AlcGraw; temperance. R. J. Hols
ton.
Discuss Drug Situation
Detroit. August 24.-—The difficulty
of obtaining drugs from Europe at the
present time and the possibility of pro
fit. t lug them in the United States dur
ing the war period at least, were mat
ters under discussion a* the annual
j convent Ion of the American Pharma
comical association, which began her**
tpduy.
NO NOTED CHANGE
IN COnON OUTLOOK
Trade Awaiting Develop
ments Pending Arrival
of Delegation
New York. August 24. There was noi
material change in the cotton situation
today, so far as could he learned in local
trade circles. Little further progress Is
expected to be made in the evening up of
old contracts until after the arrival here
of the Liverpool delegates toward the eni.
of the month, and the trade meanwhile
appears to be awaiting developments
The local spot market was nominal with
no quotations and no transactions.
CHILTON BAPTISTS
AT SHILOH CHURCH
Two Days’ Session August 29-30 Will
Be Addressed By Prominent
Workers of County
Clanton, August 24. -(Special.) Tin
baptists of Chilton county are to hold u
two days' session si Shiloh church on Au
gust 2H, 20.
On the first day during the morning
hours the Kev. John llutdt will conduct
the exercises. Addresses will be delivered
by the Kev. T. J. Deason. W. J. Kuddlck,
\V. S. Cox. W. J. Hone, and R. R.
Brasher.
The Rev. John A. Pool, president of
the Baptist high school, will speak on
"The Demand for Special Training" until
the hour for adjourning for dinner.
In the afternoon and evening there will
be addresses by the Kev. J. M. Parrish,
W. H. Cook, F. W. C. Bice and Prof. A.
E. Davis. The Kev. J. E. Moore will con*
duct these exercises.
Oh Sunday, the second day, W. IT. Con
nell will conduct the exercises, and dur
ing the morning the Rev. H. G. Williams,
Judge E. B. Deason and W. J. Blllingsly
will each deliver short addresses on "Our
Obligation to Young People."
The "Grandeur of a Christian" is to be
the subject of addresses by the Rev. 8.
M. Adams and W. J. Deason.
The Rev. W. B. Crumpton. D. D., J. J.
Stanley, Prof. J. A. Johnson, the Rev.
M. C. Crumpton and Prof. Howard Pope
will each speak during the afternoon and
evening.
Baptist Young People's work Is to be In
the charge of Prof. T. E. Wllams and
the Rev. W. W. Carton.
I ..
Important Notice
J. Blach & Sons
To Remain Open
All Day Thursday,
August 27
WINU to the gathering of nearly !
1200 merchants from all over the
state of Alabama, at their second an
nual convention in this city on f
Wednesday and Thursday, and the
fact that many of these merchants do
a great deal of trading in Birming
ham, we believe that it is just to keep
our store OPEN ALL DAY THURS
DAY instead of the usual half holiday
advertised for this month.
BECAUSE of tup above we slm 11 dose our
store during tin* afternoon of TROPHY !
DAY at (tick wood Park, on Wednesday,
September second.
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■■■■«' HU I ' Ml I III ■■ I 1 . ■■■
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