anaheim-gazette 1923-07-26

TRADE FOR THE FISCAL YEAR 1923 Regaining the favorable trade balance in June, the United States closed the fiscal year 1923 with $177,000,000 more exports than imports. The tremendous reversal in trade recorded in June has left the opponents of the Fordney-McCumber tariff law speechless with amazement, and goes far toward justifying the prediction of the federal reserve board some time ago that when domestic consumption had been somewhat assuaged we would again buck up our foreign sales. The board made this assertion after a careful analysis of the trade situation and in the face of the large adverse balances of March, April and May. For the fiscal year ended with June exports from the United States totaled $3,966,000,000, compared with $3,771,000,000 for the previous fiscal year. Imports totaled $3,789,000,000, compared with $2,608,000,000 for 1922, a gain of $1,181,000,000 with a protective tariff in operation during nine months of the year. For the month of June exports amounted to $329,000,000, or $13,000,000 more than in May. Exports in June totaled $328,000,000—$44,000,000 less than in May—while imports for June totaled $260,000,000. The entire foreign trade situation seems to have centered on our imports of raw and semi-crude materials which have been exceedingly heavy since the passage of the Republican tariff law, although there has been a marked increase as well in the importation of manufactured goods, showing conclusively that the tariff was not prohibitive, as has repeatedly been alleged by its opponents. So soon as the law was passed there was a decided spurt in industry, and a rapidly developing purchasing power of domestic consumers who, rebounding from the last lean years of Democratic control, hastened to avail themselves newspapers without catering to sensationalism on the one hand or to ultra-conservatism on the other. He made a paying enterprise out of a paper that is fit to be read by every member of every family. Along with that he aidd in the development of many industrial enterprises. Turning to a consideration of members of Harding's cabinet we find in the department of state a former justice of the supreme court—a lawyer in a position where knowledge of international law is highly important. In the treasury department, which has supervision of finances, we find a banker who has had large practical experience in industrial enterprises. In the department of war we find a business man who was trained in the naval academy, who served in the Spanish-American war, and who was also distinguished by service in both the house and senate. In the department of justice, which deals entirely with legal problems, we find a lawyer, of course. In the postoffice department we find a publisher who earned his way to success by beginning at the bottom as a reporter and working his way up to the editorial chair and part owner of one of the well-known newspapers of the country. At the head of the navy department we find a man who began his active career in the customs service, but distinguished himself chiefly by his service in the navy during the war with Spain and during the war in Europe. Although a member of the bar, and a successful one, he was peculiarly fitted for his position at the head of the navy. At the head of the department of the Interior we find a physician who not only attained eminent success in the practice of his profession, but established and conducted the business affairs of a large hospital, participated in the administration of the business of state boards, and had charge of administration of medical features of the draft its flexibility. Upon tem when the ten budget is made net for final appraisal before the house budget is subjected minority, but if it is made without administration that resignation of the forming of a new successful in out of the budget. Fore, the British actment of the law submitted. Unde debate a large budget is adopted or considered illiam. The American exercise of judgment by concern for last budget on noncongress near pratiions recommend harbor improvement equally large reds of expense. The sumes that the may be better tiers of the budget members of the judgment was o commend the fleet system. In English strong movement right of parliament budget estimates es being consider confidence in tha TEN MONTHS Imports for the ended April 30. Of this period so far dererthe Fordney against which they ly inveighed, deci since the passage of the Republican tariff law, although there has been a marked increase as well in the importation of manufactured goods, showing conclusively that the tariff was not prohibitive, as has repeatedly been alleged by its opponents. So soon as the law was passed there was a decided spurt in industry, and a rapidly developing purchasing power of domestic consumers who, rebounding from the last lean years of Democratic control, hastened to avail themselves of renewed prosperity and to administer to wants long held in abeyance by hardship. Henceforth it is confidently predicted, we will glide along at an even rate of progress on the plane of normalcy. The first nine months operation of the Fordney-McCumber tariff law have fully vindicated the measure and completely dispelled the gloomy forebodings of its enemies. As a revenue producer it has exceeded the fondest hopes even of its supporters. No less than $562,000,000 tinkled into the till of the United States treasury during 1923, contributed by customs, and of this sum nearly $450,000,000 was produced by the new tariff. The law has been endorsed by all sections of the country, and, marvelous to relate, by no section more sincerely than the south, where a number of powerful organizations are already hard at work to insure long life to the law. The law's operations have utterly befuddled the Democratic party. Unable to understand why it has failed so signally to support their pet theories, they are now resorting to imaginary statistics to take the place of argument turned against them. In the congressional campaign of last year they asserted the law was costing the American people at least $3,000,000,000 annually. Shortly before the passage of the measure they put the sum at $4,000,000,000. Along in January they dropped to $1,250,000,000. And now they are back again to $4,000,000,000,000 as the cost, without a scintilla of evidence to support their statements. But even at that they are finding the tariff to be an embarrassing subject to catch votes, and are turning to other issues. Labor is everywhere employed at high wages. Factories are humming. The farmer's condition, while not yet the best, is gradually improving. The foreigner still finds a big market in this country. The customs revenues are yielding more than one sixth of the money needed to run the government and pay off Democratic commitments. The Republican tariff law was passed there was a decided spurt in industry, and a rapidly developing purchasing power of domestic consumers who, rebounding from the last lean years of Democratic control, hastened to avail themselves of renewed prosperity and to administer to wants long held in abeyance by hardship. Henceforth it is confidently predicted, we will glide along at an even rate of progress on the plane of normalcy. The first nine months operation of the Fordney-McCumber tariff law have fully vindicated the measure and completely dispelled the gloomy forebodings of its enemies. As a revenue producer it has exceeded the fondest hopes even of its supporters. No less than $562,000,000 tinkled into the till of the United States treasury during 1923, contributed by customs, and of this sum nearly $450,000,000 was produced by the new tariff. The law has been endorsed by all sections of the country, and marvelous to relate, by no section more sincerely than the south, where a number of powerful organizations are already hard at work to insure long life to the law. The law's operations have utterly befuddled the Democratic party. Unable to understand why it has failed so signally to support their pet theories, they are now resorting to imaginary statistics to take the place of argument turned against them. In the congressional campaign of last year they asserted the law was costing the American people at least $3,000,000,000 annually. Shortly before the passage of the measure they put the sum at $4,000,000,000. Along in January they dropped to $1,250,000,000. And now they are back again to $4,000,000,000,000 as the cost, without a scintilla of evidence to support their statements. But even at that they are finding the tariff to be an embarrassing subject to catch votes, and are turning to other issues. Labor is everywhere employed at high wages. Factories are humming. The farmer's condition, while not yet the best, is gradually improving. The foreigner still finds a big market in this country. The customs revenues are yielding more than one sixth of the money needed to run the government and pay off Democratic commitments. The Republican tariff law was passed there was a decided spurt in industry, and a rapidly developing purchasing power of domestic consumers who, rebounding from the last lean years of Democratic control, hastened to avail themselves of renewed prosperity and to administer to wants long held in abeyance by hardship. Henceforth it is confidently predicted, we will glide along at an even rate of progress on the plane of normalcy. The first nine months operation of the Fordney-McCumber tariff law have fully vindicated the measure and completely dispelled the gloomy forebodings of its enemies. As a revenue producer it has exceeded the fondest hopes even of its supporters. No less than $562,000,000 tinkled into the till of the United States treasury during 1923, contributed by customs, and of this sum nearly $450,000,000 was produced by the new tariff. The law has been endorsed by all sections of the country, and marvelous to relate, by no section more sincerely than the south, where a number of powerful organizations are already hard at work to insure long life to the law. The law's operations have utterly befuddled the Democratic party. Unable to understand why it has failed so signally to support their pet theories, they are now resorting to imaginary statistics to take the place of argument turned against them. In the congressional campaign of last year they asserted the law was costing the American people at least $3,000,000,000 annually. Shortly before the passage of the measure they put the sum at $4,000,000,000. Along in January they dropped to $1,250, A BUSINESS ADMINISTRATION A recent editorial in the Dearborn Independent urging the importance of having business men rather than lawyers in control of the administrative departments of the government, serves to emphasize one of the strong features of the Harding administration. As Henry Ford says, lawyers are often poor business managers. They are experts in handling legal problems and where legal problems are chiefly to be met they ought to be entrusted with management. Lawyers are not always poor business managers, for there have been some notable exceptions. The Harding administration is a business administration. Harding himself was trained in the school of practical experience in the business world. He worked first on a farm and learned nearly all phases of agricultural industry. While he was yet but a boy he began business for himself by taking contracts at painting. He began his life business while still a youth by the purchase of a few pounds of type and an old printing press and built up a decadent newspaper into a prosperous publishing business. He made a great success of editing and publishing a That the American system is highly effective has been demonstrated by results. Not only have our finances been balanced by making expenditures come within the income, but the executive departments have been so accurate in their estimates, and the cooperation between the executive branch and the legislative branch has been so harmonious that the appropriations come within less than two percent of the estimates of the budget bureau. This is a remarkably close approach to the estimates when it is remembered that the total was more than three billion dollars and there is no limitation whatever upon the right of congress to make any changes it may deem best. The appropriations were slightly under the estimates submitted by the director of the budget. There are two important respects in which the American system is superior to that of the British. One of these is the power which the president has by virtue of his constitutional authority and authority given him by act of convess, over the co-ordination of the work of the several departments of the government. One official of the budget bureau is known as the chief co-ordinator. Under the leadership of this officer representatives of the forty-three bureaus and boards and commissions conducting government business in which they have a common interest. At such conferences plans are made for elimination of duplication, removal of competitive bidding for supplies, interchange of unused supplies, etc., with the result of saving millions of dollars and at same time increasing efficiency. Another important feature of superfor merit in the American system is ANAHEIM GAZETTE its flexibility. Under the British system when the tentative draft of the budget is made up it goes to the cabinet for final approval and is then laid before the house of commons. The budget is subject to discussion by the minority, but if any material change is made without the consent of the administration that change results in a resignation of the cabinet and the forming of a new cabinet by the group successful in outvoting the supporters of the budget. In its operation, therefore, the British system means the enactment of the budget practically as submitted. Under the limitation of debate a large portion of the British budget is adopted without any discussion or consideration whatever in parliament. The American system provides for the exercise of a large measure of judgment by congress. In fact when the last budget was under consideration Congress nearly doubled the appropriations recommended for river and harbor improvements, but made equally large reductions in other items of expense. The American system assumes that the judgment of congress may be better than that of the members of the budget bureau. Even the members of the budget bureau whose judgment was overruled by congress commend the flexibility feature of our system. In England there has been a strong movement towards recognizing the right of parliament to change the budget estimates without such changes being considered a vote of lack of confidence in the administration. TEN MONTHS' IMPORTS Imports for the ten months period ended April 30, totaled $3,089,000,000. Of this period seven months were under the Fordney-McCumber tariff law against which the Democrats so loudly inveighed, declaring it to be a pro- THE MOON PATH There's a glowing silver path across the water to the moon — Stretching far beyond the combers that are breaking on the beach. There is music past believing in the wavelet's lapipng croon. And our ecstasy, who listen, is beyond the realm of speech. We can merely sit and wonder at the glory of it all— Sit and rapturously dream upon the dune; For our souls have gone a-gypsying, gone straying past recall. On that path across the water to the moon. There is darkness soft, diaphanous as silken laces are. On each selvage of that path across the water to the moon. And the further side of Nevermore is less remote by far Than the bourne our souls go seeking on that glittering lagoon. So we sit and doubly marvel at the Splendor of it all! Though our earthly selves lie prone upon the dune, Yet our spirits go a-rosting, go-a-straying past recall. On that path across the water to the moon. TITLE A HANDICAP A great ambition was laid low when King George sent for Sir Stanley Baldwin instead of Earl Curron to become the new prime minister to succeed Andrew Bonar Law. For Curzon for years has had his eye fixed on achieving this greatest goal of English politicians. And what made the disappointment most bitter was that the prize was snatched from his hands just as they seemed to be closing upon it. STATE'S INDEBTEDNESS California has failed to escape the wave of huge municipal borrowing, which, during the past year, has swept over the nation. According to State Comptroller Riley, the bonded debt of the state, county, and municipal governments has increased more than 30 per cent in the past fiscal year. The total bonded debt of the state now is $414,403,251, as follows: Municipalities, $191,096,236; counties $147,343,515; state, $75,964,500. In the United States there are now $8,500,000,000 municipal bonds outstanding. During the past year the amount of municipal borrowings was $1,200,000,000. This immense sum bids fair to be increased during the coming year. A veritable orgy of spending appears to have overtaken American cities. Many projects, held in abeyance for years, together with others originated by persons interested in the expenditure of city funds, have been endorsed by the people with a magnificent disregard of costs. What appears to have been overlooked by the voters is the fact that the money borrowed now must be repaid at a later date. It makes no difference how low the rate of interest may be, if the project upon which it is expended is unnecessary, the cost is high. The great debts now being piled up by American municipalities because money is easy to get, must be paid at some later date. In the meantime the interest must be kept up and serial payments made. It is only a short time until the people will begin to realize that cheap money when it is not needed, is dear, and with rising taxes, sanity will return. In the meantime, the stream of municipal borrowings continues unabated. MINING IN CALIFORNIA TEN MONTHS' IMPORTS Imports for the ten months period ended April 30, totaled $3,089,000,000. Of this period seven months were under the Fordney-McCumber tariff law against which the Democrats so loudly inveighed, declaring it to be a prohibitive tariff. But imports for the ten months ended April 30, 1922, under the Democratic tariff law totaled $2,095,000,000, or nearly one billion less than under the protective tariff which protects but does not prohibit. Of this nearly one billion increase no less than $709,000,000 was recorded during the first seven months operation of the now tariff law, or $2,261,000,000 compared with $1,542,000,000 for the same similar period, October 1, 1921; to April 30, 1922, under the Democratic law. It is interesting to note the increases by grand divisions and countries which enter into this import trade. We were told that Europe would be shut out of our market by the new law, but imports from that division increased from $680,000,000 to $970,000,000; from North America, $557,000,000 to $794,000,000; from South America, $227,000,000 to $385,000,000; from Asia, $562,000,000 to $805,000,000; from Oceania, $23,000,000 to $68,000,000; and from Africa, $46,000,000 to $77,000,000. Specifically mentioning some of the countries, imports from Belgium increased 60 per cent, or from 33 to 52 millions; from France 118 to 129; from Germany 77 to 118; from Italy 51 to 70; from Netherlands 42 to 64; from Sweden 20 to 34; and from Great Britain 218 to 361 millions. From the North American division Canadian imports increased from 249 to 340 millions; from Central America 24 to 30; from Mexico 10 to 112; and from Cuba 160 to 288 millions. Evidently the increased sugar duty did not close out Cuba. The South American countries increased their sales in every instance save Colombia, the largest increases being from Argentina, 47 to 102; Brazil 80 to 120; Chile 27 to 72; and Uruguay 7 to 23 millions. Large purchases of hides and wool in Argentina and Uruguay account for much of the increase in imports from those countries. In the Asian group China figures with an increase in our imports from because money is easy to get, must be paid at some later date. In the meantime the interest must be kept up and serial payments made. It is only a short time until the people will begin to realize that cheap money when it is not needed, is dear, and with rising taxes, sanity will return. In the meantime, the stream of municipal borrowings continues unabated. MINING IN CALIFORNIA The interior department announces that according to information reaching the San Francisco office of the geological survey, mining in California during the first half of 1923 has been greatly handicapped by lack of efficient labor and by very large labor turnover. Considerable development and prospecting work have been done during the first six months of the year in different parts of the state, particularly in the gold districts. Most of the larger gold mines are operating about as they were in 1922, and a few new gold producers have started production. The silver mines have been worked to their full capacity thus far. FOOD FOR ALASKA INDIANS No sooner had President Harding set foot ashore in Alaska than he met up with a problem. Indian natives presented him with a protest against the taking of all the salmon by the canneries. This is a problem. On the southwestern coast the salmon was the whole livelihood of the Indians. The white man's fisheries have sadly diminished that food supply, and, of course, has made the native no return for that resource thus taken away from him. President Harding replied properly that the remedy is not a return to primitive conditions. The salmon because money is easy to get, must be paid at some later date. In the meantime the interest must be kept up and serial payments made. It is only a short time until the people will begin to realize that cheap money when it is not needed, is dear, and with rising taxes, sanity will return. In the meantime, the stream of municipal borrowings continues unabated. The South American countries increased their sales in every instance save Colombia, the largest increases being from Argentina, 47 to 102; Brazil 80 to 120; Chile 27 to 72; and Uruguay 7 to 23 millions. Large purchases of hides and wool in Argentina and Uruguay account for much of the increase in imports from those countries. In the Asian group China figures with an increase in our imports from her of from 92 to 141 millions; British India from 61 to 96; Straits Settlements from 58 to 101; Dutch East Indies from 22 to 38; and Japan from 242 to 315 millions of dollars. Australian and New Zealand imports from 21 to 56 millions; British South Africa from 4.5 to 11 and Egypyt from 3 to 42 millions. Egyptian imports again reflect American prosperity. Our domestic purchases of automobiles are increasing because of the higher buying power. Automobiles call for tires; tires call for long staple cotton in their manufacture, and the long staple cotton comes from Egypt. Imports for March and April of this year exceeded exports by nearly $100,000,000. But we are not worried yet. The federal reserve board, after a careful and impartial study of the foreign trade is of the opinion that our exports, which have a little better than held their own for the past year, will begin to record increases in the near future. The new tariff law is giving general satisfaction and the Democratic party is already endeavoring to shunt it as an issue in the 1924 campaign. Big minds often are in small bodies. An ant has more sense than a rabbit. This is a problem. On the southwestern coast the salmon was the whole livelihood of the Indians. The white man's fisheries have sadly diminished that food supply, and, of course, has made the native no return for that resource thus taken away from him. President Harding replied properly that the remedy is not a return to primitive conditions. The salmon fisheries have a value to the world greater than their value as a native food supply. But the equity of the case demands that the Indian be given something in return for the natural property of which he has been deprived. A similar problem with the natives of northern Alaska, threatened with starvation through the depletion of game by yhite hunters and whalers, has been solved brilliantly by the government. The northern natives have been equipped with reindeer herds that have made them rich. On the heavily forested southwestern coast reindeer are probably out of the question. So are herds of tame salmon. But something must be done. The opportunity is here for some genius to devise a substitute food supply for the southwestern native as notable as the one developed in the north. "A BURNT CHILD"—ETC. The allies are trying to cook up a scheme to get Uncle Sam into the Paris conference, but Uncle Sam considers himself already well done. The business success is one who has money to burn and then doesn't burn DEBTEDNESS called to escape the municipal borrowing, last year, has swept, According to State the bonded debt of and municipal government increased more than 30 percent fiscal year. The debt of the state, as follows: Mu 1096,236; counties $75,964,500. States there are now municipal bonds outlawed the past year the local borrowings was immense sum bids during the coming of spending appears American cities. Sold in abeyance for both others originated in the expenditure have been endorsed with a magnificent so have been overdrawn is the fact that need now must be re-used. It makes no difference the rate of interest direct upon which it is necessary, the cost is debts now being american municipal easy to get, must be dated. In the mean-must be kept up and made. It is only a people will begin cap money when it is scarce, and with rising return. the stream of mu continues unabat- CALIFORNIA WHALES The whale fishery has ever since its inception more than a century ago, constituted one of the greatest and most romantic industries of the world. There has always been a strong and impelling fascination about whaling, and vessels have gone into the remotest seas in quest of these largest and strangest animals in the world. So persistently they have been hunted, and for so many years, that it is scarcely less than marvelous that there should be left today a single whale of any species anywhere in any ocean. Cruz since 1918, and another at Trinidad since 1920, and they have taken only five California Gray whales in all these years. The California Gray is commercially extinct on the California coast. In the same period they secured one bottlenose, one sei, four sperm, five sulphur-bottom, nineteen finbacks and nearly a thousand humpbacks. It is, therefore, evident that the humpback is the only species of whale that is not already commercially extinct on the coast of California. That it, too, will soon be extinct is equally evident. AN IMMIGRANT POLICY Senator Copeland, of New York, who has seen for himself at first hand more of our national immigration problems than the majority of law-makers, proposes an immigration policy with these three provisions: 1. That no foreigner should be permitted who did not have the intention after he had been examined physically mentally and morally by the United States. 2. That immigrants should be allocated to different parts of the country upon admission, as their experience abroad might be utilized in their employment here. 3. That no foreigner should be admitted who did not have the intention of permanently becoming an American citizen; and to that end each foreigner should be obliged to make a report to the United States postal authorities four times each year and at the end of the fifth year become naturalized upon penalty of being sent back to his own land. There is nothing novel in these recommendations. Nearly everyone who studies the subject comes to substantially the same conclusions. Probably nine out of every ten people will read- IT BAKES EVENLY constituted one of the greatest and most romantic industries of the world. There has always been a strong and impelling fascination about whaling, and vessels have gone into the remotest seas in quest of these largest and strangest animals in the world. So persistently have they been hunted, and for so many years, that it is scarcely less than marvelous that there should be left today a single whale of any species anywhere in any ocean. But we are now beginning to see the end of the twenty-five or thirty species of whales and other cetaceans known in the north Pacific. Several species that were once very abundant are now commercially extinct. The California Gray is one of the six or seven species of whales that still occur on the California coast. In Scammon's time, fifty to seventy years ago, this whale was found on the coast of California in great abundance; in 1853 he estimated that fully 30,000 whales of this species visited California waters every year. The California Sea Products company has been operating a whaling station at Moss Landing, near Santa of permanently becoming an American citizen; and to that end each foreigner should be obliged to make a report to the United States postal authorities four times each year and at the end of the fifth year become naturalized upon penalty of being sent back to his own land. There is nothing novel in these recommendations. Nearly everyone who studies the subject comes to substantially the same conclusions. Probably nine out of every ten people will readily agree that the matter should be adjusted along these lines. Yet will anything be done about it? Nothing about the whole immigration problem is so hard to understand as the delay of congress in substituting a permanent policy for the present temporary and confessedly inadequate one. EXPERT TESTIMONY William J. Bryan is telling the Democrats how to win in 1924. Bill knows how to win. 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