OCR Interpretation


The Bozeman courier. (Bozeman, Mont.) 1919-1954, November 02, 1921, Image 9

Image and text provided by Montana Historical Society; Helena, MT

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn86075113/1921-11-02/ed-1/seq-9/

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Hitting Uhe Nail on 2T/>c Head
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BEATING THE WORLD.
As a result, the United States
ha-= traveled further on the road back
I normalcy than any other nation
which participated * in the war, and
the manner of its journeying has
b. on in strict observance of the rules
t ound economics.
• i mpart'd with any European na
li . the United States ?s infinitely
b-. r,tT off in every respect; living
costs are lower; wages are higher;
iiuU'.slries are more active, and busi
n. is more prosperous and on a
mler basis. Take for example,
Developments in various parts of
the world are conspiring to prove
the wisdom of the policies of the Re
publican administration.
From the very outset the admin
istration turned a deaf ear to all
propositions which smacked of state
socialism or had for their end the
invasion by the goernment of the
field of private enterprise and initia
tive.
to
SU.
K land, where, although conditions
are admittedly better than in the
-Evropoan countries, the situation,
nevertheless, is critical. The depres
sion of her markets abroad and the
invasion of her markets at home have
almost brought about the collapse of
British industry. Her unemployed
are now officially estimated at over
1.(■•*0.000, which is proportionately
much greater than the estimates of
unemployed in the United States.
She has attempted to cure the prob
leur of unemployment by the payment
o government subsidies to the idle,
O:Tidal figures just made public re
veal the amazing fact that during the
pastî yeai 46 per cent of the English
population has received some form of
government hand-outs, costing the
-
national treasury nearly $2,000,000,
000 in cold cash, which is equivalent
to $100 taxation for every English
family. But instead of curing, or.
even relieving, the situation, it has
only aggravated it. Few want to
work so long as they can draw un
employment pensions or "doles" from
the public treasury.
One evil breeds another, and in an
attempt to assist busmess sustain the
burden of taxation incident to all
ffKiiiitMmiaiitiiiiiaiiiiiiniiiiiKiiaiiiMiiiwiiiiiiiaiiaiiiiiaiiaiiaiiiiiiiiiiKMrifiiiMiiiiiiiiKimHiiiaiixianiiiiiiniiiianaiiaiiiiiiiiiRti.
Your Business Partner
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—Whether they be the problems of a
merchant or a farmer. Both are business
men.
In fulfilling this moral obligation, we like
to consider our organization as your busi
ness partner—interested in your success.
\
CONFIDENTIAL COUNSEL
If you wish sound advice in seeking credit,
making investments, or even the more
personal problems of your business you
will be welcomed here. You will find a
talk with our officers helpful.
SECURITY BANK & TRUST CO.
30 West Main Street
Vice President: A. G. BERTHOT
Assist. Cashier; J. L. KETTERER
President: H. S. BUELL
Cashier: W. N. PURDY
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handle your money safely.
A checking account here is more than a simple con
ience. It is a guarantee of security to you in the trans
mission of funds.
CHECKS PROTECT YOU
N
The cancelled checks, returned to you each month, are
legal receipts for your payments. These and many other
benefits are yours if you establish a checking account here.
We will be glad to discuss it further with you.
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COMMERCIAL NATIONAL BANK
this, and to hold its own in foreign
markets, the British government
s contemplating subsidizing
mere© and industry. The wiser ones
now
com
are protesting against the continua
tion of this futile attempt to lift the
counry by tugging at the boot-straps.
What is happening in England is
happening in continental Europe, as
for example, in Switzerland, the home
of the League of Nations, employ
ment is seven times worse than it
was a year ago. The Swiss govern
ment is paying 10,000,000 francs a
month in unemployment pensions,
with the certainty that this must be
increased. Here, too, commerce and
industry are asking that they be
subsidized in order to assist them to
carry the burden of subsidizing the
unemployed. The government has al
ready given state aid in the amount
of 20,000,000 francs to the watch in
dustry, and other industries are on
the list for subsidization.
Only in the United States has the
central government pursued the pol
icy of getting out of business and let
ting individual resourcefulness, indus
try and independent self-respect have
full swing. The result has been a
vindication of the policy of individ
practiced se^frreliance. It has
phasized the doctrine of nationality,
Instead of looking to a League of
Nations, or other outside influences,
to solve its problems, and becoming
thereby dependent upon such influ
ences, the United States has put its
hand to the plow and it is turning its
own furrow. Communism among na
t : ons has the same deadening effect
as communism among individuals,
The United States, by keeping out of
ualism as against the policy of pa
ternalism. The United States has
em
any international communistic asso
ciation, has presered not only its na
tionality but its economic' virility
and stability.
This has not prevented the United
States from doing its full share in
the process of reconstructing a war
devastated world. As President Hard
ing said in h's recent address at York
town, Virginia, there must be co
operation among nations, but, as he
so ably phrased it, this must be ac
complished by "each of them in its
own peculiar way" contributing to
the common good, progress and ad
vance of mankind. It is not neces
sary for this country to belong to any
international communism in order
that it may fulfill its duty to civiliz
ation.
It is well on the eve of the con
ference to discuss limitation of arm
aments to keep these facts in mind.
There is abundant evidence that a
tremendous drive will be made dur
ing that conference to committ the
United States in some way to the
League of Nations- Nothing but a
vigilant, militant public sentiment,
vigorously expressed, will successful
ly combat and counteract this effort.
The task and responsibility of doing
this rests, wholly with the Repub
lican publishers and editors.
OUR VALUATION.
If Professor Walter F. Wilcox, of
Cornell University, speaking with
others against the American valua
tion plan of the proposed new tariff
act, was quoted correctly in the news
dispatches, he said:
The American valuation plan of
the pending tariff bill is likely to
seriously diminish the foreign „trade
of the United States and thus to
diminish the chance
that foreign
countries will be able to pay their
American debts, governmental and
priate.
Let us see about that. Great Brit
ain owes us a war debt of billions of
dollars; Germany owes us none at
all. With the German mark worth
virtually nothing and with German
goods generally produced at a very
much lower cost than similar British
goods are produced, consider a tariff
of 30 per cent based as now on the
German and British valuations of
>•
export goods. If the British value
of an export intended for our mar
ket, as expressed in our^money, is
$100, say, the 30 per cent duty under
the present system adds $30 to it in
this country. If the German value is
$50 the 30 per cent duty adds $15 to
it ,or only one-half the duty in dol
lars which the British article must
pay to get into this market.
But if the value of a similar Amer
ican article were $110 in our own
market and the 30 per cent duty were
applied on that basis, both the Brit
ish article and the German article
would pay the same amount of
American dollars as duty. The Brit
ish article might pay $3 more duty
than it now pays; but the German
article would $18 than
it now pays. This would not be a
disadvantage but a distinct advant
age to our British debtor as against
that debtor's highly competitive rial
who is not our debtor.
Japan's currency is not greatly de
based, but of all the great powers
Japan's labor is on about the lowest
wage basis. Japan, like Germany,
owes the United States no great war
debt. France
does. Japan's low
wage cost now gives her exporters a
strong competitde advantage in our
markets over the exporters of France
with her higher wage cost. But also
the present valuation system exact
ing less duty in dollars from Japan
than from France, because th© home
value of the French article is higher
than the home value of the Japanese
article, magnifies
advantage of the Japanese as against
the French exporters. The American
valuation pla-n, on the contrary, tak
ing exactly the same duty from each,
would tend to minimize Japan's low
wage competitive advantage against
the higher wage and higher duty
paying of France.
There is much to be said for the
American valuation plan, as the New
York Herald sees it, and no doubt
something to be said against it. But
certainly the one thing not to be said
against it seriously is that high wage
countries that owes us money will
be present by it from selling in our
markets as against low wage coun
tries that do not owe us; or that un
debased exchange countries that
us will suffer from it in our mar
kets, as they now do under the pres
ent system's penalty aigainst them
of heavier duties than are paid by
the debased currency countries that
do not owe us.
the competitive
owe
In view of the fact that there is no
legal and practical way to have a
differential tariff system that will
equalize all the varying debased
change and pauper wage costs of ex
ports to this country,, what better
solution is there than the proposed
American
York Herald.
ex
valuation ' plan?—New
WHY CONGRESS
MOVES SLOWLY.
There appears to be a great deal
of unnecessary and unjustified *per
turbat on over the difficulties attend
ant upon the passage through
gress of what is characterized as the
administration program 6f Construct
ive legislation. There are alarmists
who would have us believe that not
only is the Republican party head* d
straight toward certain shipwreck,
con
but tht the country itself is danger
ously near the.rocks because of the
failure of the congressional majori
ties speedily to agree upon and put
through the revenue, the tariff and
other pending measures.
It is very much to be doubted if
President Harding and those asso
ciated with him in responsibility en
tertain in measurable degree any of
these doleful apprehensions. They
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HAT great part of non-city America which we call the country is
au ,. Sometimes the people of the farms have felt that the peo
Die ux did not understand their problems any more than did those o*
the bie cities. But there has been a common meeting ground for all m the
home town paper. It has chronicled the activitiesof the yiUa«e and of Üie farms
and of the cross
family
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town and country
pie of towns did i
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BSJSL roads. It has told of the visits of the village banker and hir
tamuy and of the farmer and his family, of the new pavement in the village am
the improved highway in the country. No publication ever was moreentitied to
be called "a slice of life" of the people than the home town paper. Week after
week year after year, it has ministered to the natural craving for the homely, in
timate news of the countryside, the kind of news which no big city Pf P* r c *"
furnish. Now the country newspaper is to have a "week" all its own.
sands of country papers the nation over have got together to observe s H^ c . r ^
for your home town paper week" November 7-12. It is a week for al
country and vUlage life and "just folks." If you have let your subscription lap^e.
renew it If you are a newcomer to the community, subscribe. It
you are far from the old home town, make sure that at
least once a week you can live again the joys of othci
days through the visits of the home town paper. i
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Subscribe for IJour Rome Town Paper tDeek, Ilovember 7**12
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JOB
L
PRINTING
.
PARTICULAR PRINTERS FOR PARTICULAR
PEOPLE
Those who have job printing to do and want
it "right" will find this is the place to order it.
A thoroughly modern plant with every nec
essary equipment and employing only the best
workmen, assures you perfect satisfaction.
No job is too large nor too small for this
plant to give it the best efforts required to de
liver the work "right.
PHONE 80 AND OUR REPRESENTATIVE
WILL CALL ON YOU *
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THE BOZEMAN
COURIER
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know, as do the leaders in congress,
that once legislation is written into
the statutes it is not judged by the
length of time necessary for its en
actment, but by its effects for good
or ill upon the welfare of the nation.
Many men and many interests are
impatient that this measure or' that
should become a law, but when the
final vote is taken and the presâden
tial signature attached, they will for
get their impatience of today in
eagerness to know how their per
sonal fortunes are to be affected
Fret and fume as we may, we all
know in our hearts that a good law
evolved out of long and painstaking
consideration is much to be preferred
ecutive or
to a poor law hastily thrown together
and put through under pressure, ex
otherwise.—Washington

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