anaheim-gazette 1929-12-05

THE ANAHEIM GAZETTE ESTABLISHED 1870 HENRY KUCHEL, Editor and Proprietor. ISSUED EVERY THURSDAY SUBSCRIPTION PER YEAR.....$1.50 SIX MONTHS.....1.00 Entered at the Anaheim, California, Postoffice as second-class matter. AMERICAN STABILITY The action of President Hoover in arranging a series of conferences of the heads of business, agriculture and labor interests, to prepare and discuss plans for a constructive business revival following the debacle in the stock market has properly been received with universal commendation by newspapers and statesmen of both great political parties. If the meeting can do no more than "dispel foolish pessimism" and stabilize the public itself, it will have done a great deal, for after all the term panic represents more or less of a state of mind, feeding as it does on terrors which are usually for the greater part imaginary. But it is likely that the conference will do even more than this and that constructive measures will be planned looking for an accelerated business pace in 1930. The steadiness of American industry in the face of the recent debacle in the stock market is the most remarkable evidence it would be possible to adduce of the soundness of the American commercial structure. With a twenty billion dollar shrinkage in securities values, and all the fear that went with it, there have been no important failures of banks or other business houses. While panic prevailed in the stock markets, American business enterprises were reporting increased sales, expanding operations. This was true even of institutions whose stocks were being disposed of at prices representing less than inventories and cash on hand. There never before has been a stock market panic so great as the recent one. And there has never been a stock market panic which so little affected the usual course of business. It is true that billions of dollars have passed from the hands With a twenty billion dollar shrinkage in securities values, and all the fear that went with it, there have been no important failures of banks or other business houses. While panic prevailed in the stock markets, American business enterprises were reporting increased sales, expanding operations. This was true even of institutions whose stocks were being disposed of at prices representing less than inventories and cash on hand. There never before has been a stock market panic so great as the recent one. And there has never been a stock market panic which so little affected the usual course of business. It is true that billions of dollars have passed from the hands of others. Put the money has not flown the country. It is still here and will continue to be at work. When a cyclone or earthquake has occurred, the inclination is to believe that the region affected will never prosper again. And the history of such calamities shows that in an incredibly short time the effect has passed away. In the absence of any serious industrial repercussions the recent stock market stampede will soon be forgotten, except by those who have been injured in it. And many of these will have learned a lesson upon which they can in the future earn larger dividends than were promised by the stocks they held and lost. The lesson of the recent disaster is that we have a com­ mercial fabric which defies disaster. It proves that if there was panic in some quarters, there was courage in others. It proves that while American prosperity can be made to lag or hestitate, it cannot be made to stop. Today we have as many factories running, as many banks open, as many merchandising establishments doing business, as many fertile acres awaiting cultivation, as ever before in the hist­ ory of our country. And we have the same industrious, inven­ tive, enterprising people, to whom nothing is impossible. The European croakers who are predicting that because of this dis­ aster the United States has started the downward way have been preaching that doctrine for a century, and have seen the repudi­ ation of their prophecies by events. American business conditions are sound. Better than this they rest on a solid foundation which disasters can shake, but not destroy. Confidence in the future is the life blood of prosperity; the American people still have confidence in their country, their government and in their fellow Americans. Such confidence is invincible. RESPECT BETWEEN NATIONS When an American newspaper or statesman insists that in the question of naval limitation, the defensive requirements of the United States must be carefully looked after in the forth­ coming conference, we occasionally get an outburst from some of our more rabid internationalists that such statements are apt to work harm to the friendly interests between the United States and Great Britian and to defeat the purposes of the conferences. Of course nothing could be further from the truth. It is the duty of Americans to look after the interests of their own country and those in authority, from the President down, will be found doing this very thing. Nor is such action apt to break up any friendly relations between Uncle Sam and John Bull. All sensible Englishmen realize that they must look after the requirements of their own country first, and they realize that we must do the same thing. If we did not do so, they would be much less inclined to respect us than they are at present. As between individuals, respect between nations must be mutual in it is to accept anything. And if the American and Of course nothing could be further from the truth. It is the duty of Americans to look after the interests of their own country and those in authority, from the President down, will be found doing this very thing. Nor is such action apt to break up any friendly relations between Uncle Sam and John Bull. All sensible Englishmen realize that they must look after the requirements of their own country first, and they realize that we must do the same thing. If we did not do so, they would be much less inclined to respect us than they are at present. As between individuals, respect between nations must be mutual in it is to accomplish anything. And if the American and European diplomats go into the conference with a mutual regard for the other fellow's rights, they are much more apt to get some place than would be the case if America's representatives were inclined to be subservient. The Chicago Tribune recently well summed up the situation when it said: "The real enemies of Anglo-American amity are not the Americans who insist upon candor and strict protection of the interests of the American nation, but the apologetic Americans the sentimentalists and advocates of short-sighted and fallacious economies who have all along urged the surrender of the wise American policy against permanent entanglement in European politics and the persistent sacrifice of American independence and power. "This is not the voice of America, as has been proved repeatedly, and to accept it as much, though it may seem to promise advantage to the British, will prove to be a costly mistake. To exploit American subserviency, ignorance or complaisancy is not to prepare peace but to make certain disillusionment and conflict. It would be to back the wrong horse or win a Pyrrhic victory. "If vigorous resistance to proposals inconsistent with American interests is evidence of bitter enmity to England, then there is something fatally incompatible in the interests of the two nations, and the sooner that fact is frankly faced the better for us both. We are glad to believe an accord is practicable as well as desirable for both countries and for the world, but no durable accord can result if British policy and opinion are guided by voices in America disowned whenever opportunity offered by the overwhelming majority of the American people." A Columbia professor says that our safety depends on international feeling rather than on armament. But the trouble is that international feeling is apt to change over night. We're All Counting On You, Uncle Sam—By Albert T. Reid ANOTHER DIG JAX REDUCTION HO BOY! DON'T MISS HIM. Albert T. Reid Speeding Up Public Work State Makes Response To Appeal By the President How California is responding to President Hoover's plea to the various states to speed up public works, reducing employment and counteracting the recent stock slump in Wall Street, was explained here this week by B. B. Meek, director of public works. "California will spend approximately $83,030,000 on its state and county highways during 1930," said Meek. "This includes state highway expenditures estimated at $38,670,000 and county roads expenditures estimated at $50,000,000. During the first six months of 1929 a total of $10,000,000 in highway contracta will be offered to bidders." But the greatest development program of all is California proposed water program. The present statewide investigation of water resources is the most complete and far-reaching in the United States. Meek said. "During 1930 one hundred irrigation districts will spend approximately $10,000,000." Meek continued. "Flood control, to which the government will contribute, will cost $1,385,000 during the period. And expenditures for water investigation, the most inclusive over attempted, will total $400,000." California's prospective public works program will reach the staggering sum of nearly $850,000, according to a United Press checkup. The various projects include the following: State and county highways for 1930 ... $ 88,030,000 Ten-year State building program to 1937 ... 31,000,000 Golden Gate bridge ... 30,000,000 San Francisco-Oakland bridge ... 100,030,000 Boulder dam and All-American canal ... 150,000,000 Los Angeles aqueduct ... 250,000,000 Kenneth dam on upper Sacramento river ... 70,000,000 San Joaquin valley pumping project ... 24,000,000 Carquines salt water barrier ... 50,000,000 109 irrigation district projects ... 10,000,000 Santa Ana flood control project ... 45,000,000 Rapid Increase Of Patients Hospitals Overflowing With Persons Affected With Mental Disorders With mental hospital's filled to overflowing, California is faced with an acute situation in caring for its insane population. Two decisive steps have been taken by the state—to provide more quarters and to attempt a solution of the causes leading to the startling increase in mental disturbances. State director of institutions Earl B. Jensen has submitted a report of Governor Young, setting forth the seriousness of the rage legislators of inmates into state hospitals. On November 1, Jensen said there were 14,298 cases in state hospitals and excess population of 1,164. October showed a net increase of 48 for the month. "All institutions report an increase in number of commitments," Jensen declared. "Approaching winter and lack of work are two important factors affecting the mentally unstable, and result in commitments to state hospitals. Work is very scarce during this period, particularly in the south. "We are faced with an especially difficult problem at the Patten State Hospital. The institution received 98 new commitments during October, and from November 1 to 20 had received 64 newly committed patients. "The situation is acute. Two basements, heretofore altered and fitted for housing of patients, have again been occupied to take care of the problem." While the Department of Public Works is going ahead with plans for additional construction of quarries at Agnews Hospital, and other mental institutions, a commission to study mental hygiene in California is organizing. Trained psychiatrists will probe into every phase of the cause of mental instability and a complete report is to be submitted to the governor within a year. Governor Young has consistently urged this more positive course of prevention. Belief that the problem begins in the adolescent stages has inspired the commission to start research among school children. This phase of the subject will constitute a large part of the JEWELRY THE GIFT OF GIFTS Let us assist in selecting that very important gift for your boy or girl, that particular relative, or that very dear friend for whom you are choosing a lasting remembrance. For as experienced jewelers, we can advise you well, and from our stock, supply just the precious gift you desire. 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