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The Wingham Advance Times, 1932-03-17, Page 2til t .SAE TWO TH WINGHA.M ADVANCE -'!IME$ 2.m4sugwMM1N kwugaxnsy.i�,H^•WWF ?� Thursday° March l'lth, 19$2 seefievieeeeeese The Wingharn Advance -Tunes Published at i WINGHAM - ONTARIO Every n Thursday Y Morni8 by 1 The .Advance -Times Publishing Co. Subscription Rate .— One Year $2,00 Six months, $1.00 in advance To U. S. A,., $2.50 per year. Foreign rate, $3.00 per year. 1 Advertising rates on application. 'HYDRO Hon. Mr. Justice Middleton, Royal! Commission, is ill, necessitating a de- I lay in the investigation of certain'. Hydro matters. Of late there has been considerable activity, on the part of certain politicians, to give the impression that all is not right as far as Hydro is concerned; while oth- ers paint a picture showing Hydro as free from all wrong. Be that as it may, one thing is cer 'rain,' that the growth of Hydro, in. the last number of years, has been a wonderful development and has sav- ed the people of this province vast sums of money that otherwise would have gone to the power barons. In the last ten years the peak load carried has increased to the startling figure of 1,520,989 horse power, an. increase of 915,989. The number of consumers has in- creased until Hydro is now serving 615,000 homes and 'factories. The growth of rural service has not been neglected and in future will show even a larger increase, At pre- sent about 56,000 rural customers are served.The capital investment has natur- ally increased with this great expan- sien and stands today at $265,000,000. Hydro development has been . 'one -of the bright lights in Ontario's his tory, and with the St. Lawrence de- velopment completed ,another 1,000, 000 horsepower will be available for use in Ontario. When : the smoke of the Royal Commission has cleared away and the game of football with Hydro is over, it is hoped that the people's faith in this vast 'enterprise will in no way be diminished, and Hydro will continue to serve efficiently and economically as it has in the past. m: * * HELP KEEP TAX RATE DOWN Great effort is being made by those in 'charge 'of affairs, in all the mun- icipalities of this country, to strike a tax rate that will not be a burden to their people. However in a great many instances the rate has gone higher in place of being held or low- ered. With regard to general situations in this town, the finances are in good stable conditions. So far this year requests for im- provements and additions to public services are exceedingly numerous. If these demands are granted by the Council no 'doubt a higher tax rate would result, By proceeding care- fully, however, and maintaining pre- sent sei-vices, with required repairs from time to time, the council should be able to hold at least the present rate and possibly make a .slight de- crease. The fact that but twelve families are receiving direct relief here is an important item: In a great many towns and villages this relief work is ,costing their people a great amount of money, while here the cost to the town is 'comparatively small. It is quite certain that no rate- payer- wonld want an odd -streetlight out off or hydrant removed or any similar service curtailed in order to decrease the tax rate. Iai;;urts available` indicate that the debenture debt will take a material drop about 1935 which will be imme- diately evident by a lower tax rate. * * OUR PUBLIC LIBRARY Thefact that our Public Library, is a great asset to the town maybe verlookcd by some of us, However, there are a great many who take ad- vantage of the services rendered, Last year there was a• total of 15674. books read, which is an increase of 2077 books out over the figures of 1930, The peak of daily circulation is reached on Saturdays and as many as. 200. books are exchanged on this day. This is efficiently handled by Miss E. Holloway. The total num- ber of books available is 6903 for adults and 2732 for children. Conditions in the Reading Room are constantly improved by the "board and considering the moderate ex- ernse put on the library, the service to, the public is of high order. * * * * No reason Was given for the earth tremors at Ottawa last week, but the general public have their suspicions. * * * * March was lamb -like the first week but has again preserved its reputation as the contrary month. * *' * * Gangsters behind, prison bars in united States offer, if released, to locate the Lindbergh baby. They feel it takes a thief to catch a thief. * * * * Aird papers wanted at the Hydro probe, were thrown out as garbage. Buffalo man states he can produce them for $5000. Rather expensive garbage, * . *, * * A $15,000 contract returned by •a baseball player demanding $18,000. 1Vlany men would like a contract for the difference in these amounts. WAR DEBTS AND REPARATIONS • \Ir. M. Grattan O'Leary in a radio talk over the Canadian National Broadcasting Chain on the history of reparations and war debts, received i letters from all over Canada request- ing further information, so he set aside one complete broadcast ,in or- der that these questions would be answered. His answers to these questions were most interesting and -instructive so we are publishing same, as we feel that our readers will appreciate it. The first question asked—and it is asked by very many—is this: "Where, end when, and under what circurn- etances and conditions did Great Bri- tain offer to cancel all international ivar debts?" The answer is this: "In 1922 the Congress of the United States creat- ed the World War Foreign Debt Commission and invited the debtor nations to fund their war debts. On August lst of the same year, 1922, Britain, through her then For- eign Secretary, Lord Balfour; sent a note to the United States Govern- /tient, the heart of the note being this "The poliey favored by His Majesty's government is that of sitrrenderieg } heir share of , G.eeinan reparations and writing 'off through one great irutsaction the whole body of ]ut'er- ;tilled indebtedness. l;ut, if this be found ililpoes,ble of acconiplishinent, w. wish it to be understood that we do not in any event desire to anike a ,profit yet of any less satisfactory agreement, In no circumstances do we propose to ask there Froin our debtors than is necessary to pay our creditors." This was the British offer; an of- fer Tilade despite the fact that by its acceptance Britain stood to loce, counting her share of German repar- ations, soave 13 billion dollars. As -events have shaped themselves, Britain today i$ not receiving from. her debtors anything like the equiv- alent of what she is compelled to pay to the United States. Tre reason is that Britain's debt to the United States is fixed in gold dollars, so that. at the present price of sterling, it .will take nearly half as many, pounds again as had been originally antici- pated to make her payments. At the •present rate of exchange, indeed, Bri- titin will; have to find 48 million Pounds sterling to pay the $160,000,- 000 site Will have to hand over to the United States when the existing Mor- atorium expires. Ordinarily it would have taken but 37 million pounds." The next question asked, is this: "It it be held that Germany cannot pay reparations, and if, in this event, the Allied nations decline to pay, or are unable to pay the United States, will not the position be that the Unit- ed .States will be made to pay' the greater part of the cost of; the war?" The answer to this, I am bound to say, is decidedly in the negative. The total cost ,of the war, according to figures prepared by the League of. Nations, was 186 billion dollars. The cost to Great Britain was 44 billions; the cost to the whole British Empire, including the colonies and dependenc- ies, was over 50 billions. France, for her share, spent 24 billions; Russia, up to the time of the revolution, 22 billions; Italy 12 billions—or a grand total for these countries—and not in- cluding Belguirn—of 108 billions. The expenditure of the United States was but 22 billions. Clearly, therefore, the ten billions of dollars which are owing to the t nited States represent but a fraction of the money that the Allies threw into the War. Put those 10 billions on top of the United States war ex- ,penditure of 22 billions, and the total is still more than 8 billions short of what Great Britain spent alone. It is but 60 per cent. of what the Bri- tish Empire spent; is only 32 per cent, of what the Allies spent. In the light of these facts, the argument that cancellation of war debts would mean that the United States would be paying for the War is not, to say: the least, a valid argument. The third question asked is as fol- lows: "When: in the course of the war, the United States inade these loans to the allied countries, was it understood that they were loans to be repaid, or Was it generally believ- ed that they fcirmed a part of Am- erica's contribution toward twinning. the war?" On this point, naturally, there is considerable ' controversy. Perhaps the best and fairest answer that can be given, is to sttnimon,two great fig - !tree of the Republic, men who were leaders in United States war effort . and let them tell what they believed. Our first witness is Senator Reed Smoot,. who has been a member of the United States Senate for 29 years and who is at present chairman of the Senate Finance Conimittee, and who was a distinguished member of the War Foreign Debt Cotnniission. In speaking from the floor of the 'United States Senate, Senator Snirint used these words: Our first contribution to the cause could oniy. be money, Those of us I t,'lio were herein 1917 and 1918 know how we felt then. There was no thought of commercial loans or in- vestment of our resources 'in the ht nds of 'our allies. We were bound tegether in a common cause. Money. was'all we had to give, and we gave it freely" My second Witness is one who ranks among the greatest Americans of his generation, perhaps among the greatest of all ,time. These are his swords: "We are'fighting for what we be- lieve to 'be the rights of, mankind and for the ft.tttire peace and security of the world. To cio this great' thing w'rrthily sand successfully,' we must devote ourselves tri ,the .service With- out Regard to •Profit or Material Ad- vantage , . We must supply abund- ant_'food for ourselves and for- our armies .utd our seanwn, Aitcl Also. for a Lam 4n Part of the Nat�hens With Whom Wt. Haw Now, Made i. o n, mon c Luse, ii: I:,'i'(, t S4tiptrirt t And By Whose Sides. We :1%411 Be 3. i;xht- 1 its.t', WI: must `snntrly ,sl,T;,.t by the Inn. nails ow; of 610 0A,, anti ;ilrttn- d.tnt nun'riabt Ont or ,itis ix.lcls and our mines and our factories with Which not only to clothe and equip our ti§en forces on lands andisea, but also to elothe and support the armies with which we are • co-operating in Europe, and to keep the loons and inanufactbries there in raw material; coal to keep the fires going in ships at sea and' in;,the furnaces of hun- dreds of factories across the sea; steel out of whirl to make e,rnis' and ammunition both here and there; rails for worn out railways back of the fighting fronts; locomotives and rolling stock ta, take the place of those every day going to pieces; ev- erything with which The People of England and ;France and Italy and Russia Have Usually Supplied Them- selves selves Iiut Cannot Now Afford." I have been quoting, ladies and gentlemen, from America's great war President, 7iVoodrow Wilson. These` words were -used by hint in an appeal which he 'issued to the American na- tion, and they are to be found arnong the "Public Papers of Woodrow Wit son,"edi'ted by Professor Albert Bushnell Hare. The next question—and this has been asked by the greatest number is: "What; is the point of view of those in the United States who sin cerely believe •that. these war debts should be 'paid?" Several arguments are advanced against debt cancellation, the most forceful of which is this: "That if the debtor nations of Europe can af- ford to maintain great armies and navies, 'and consistently refuse to dis- arm, then they should be made to pay their expenditures in the last war; To thisargument—admittedly a powerful one and supported by a powerful British newspaper like the Manchester. Guardian—France makes this rejoinder. She points out that when the Treaty of Versailles was being drawn up, Clemenceau and Foch saw hope 'for world peace only in the creation of an independent Rhineland. It was President Wilson, backed by Lloyd George, who fought against this,. and what they offered as the, equivalent in security for France was .a promised guarantee of a Franco -British -American alliance, plus the League of Nations, with its famed, Article Ten. Clemenceau ac- cepted this compromise. But the Un- ited States; later an, irejected the al- liance, and repudiated the League, this leaving France without that sec- urity upon which she had staked ev- erything. In the circumstances—to continue the French argument—the only thing left to France is the sec- urity of her own army. Finally, France points ty America's own ex- penditures for armaments, contend- ieg that if such defensive measures are necessary on thus' continent, then they cannot be denied to a people who have learned in the anguish of defeat and thehumiliations of inva- sion to keep their frontier:; guarded. Our next question --and, a most in- teresting one—is this: "lit you talk of last Sunday you mentioned that Certain States of the Union -were in default to Europe. Is it not true that these loans were made to Confeder-i ate States at the time of the Rebel' - ion? 'If this is wrong, will you state when these: loans were ,made, and to what States; and when repudiation took place, and under what circum- stances?" Eight Staves are in default. They are Georgia, South Carolina, North Carolina, Alabama, Lousiana, Arkan- sas, Mississippi and Florida. The to- tal Of the principle sumo is about 60 million dollars, and the accumulated ittterest is 300 million Some of these defaulted loans go back is far as 18.31 but rnost of them were made in the reconstruction period followiirg the Civil War. in 1868-69 Smith Carolina issued bon tis for T'ailway construt:tron. Solve six million dollars worth were sold its Great Britain and subsequently re- pudiated. In 1879, Nortlr Carolina' repudiated 12 million dollars worth of bonds is- sued by the State prior to the Civil War and immediately atter the Civil War. The bonds were issated for rail- way construction. Alabama, after the Civil War, is- sued $15,000,000 of bonds: to assist, in r<eilivay construction, In 1874 these bonds were repudiated, most of the bond holders being in Britain, , Arkansas, in 1873, and later, issued bonds for railway construction and fro- levees, In 1884 these bonds were repudiated 'by an atnendinentof the State constitution, $8,700,00 being lest to British investors,` : Florida, in 1833, sold bonds for the purpose of starting a iiienl:; sold more bunds , in 1855 to aeeist in railway ,,instructiton. Banks' and railways failed wheretahon the State rcptuli at - ed tit.: bends, and $7,000,000 of these 13,01ds are still held in Britein. Georgia, it 1866-69, jested' bonde to assist its railway constr'ttctiott, rew_ pudiatt:d them in 1.871; British. hives - top., t. n this e ccasion losing $1'3,000,- 000, 'tVi<le,ttit,ad nliseottCt'litions exist it regard 't'i these repudiations, :It is commonly believed, for example, that the money was loaned during the Civil War to the Confederate States, and that no payment. has been made because such debts were declared 11011 and void by the : Federal Government of the United States. The historic truth is that not a dollar of this ition- ey was loaned to a Confederate State, not a dollar loaned' during, the period of the Civil War. Nobody is .claim- ing, or, has ever claimed,' that Con- federate debts should be paid, The truth is that the injustice clone to British and European bond -hold- ers is well-recognized in the United States, where they have never lacked for powerful friends. Thus, Nicholais Roosevelt. in his book "America and, England," published in 1930, says: "Contrary to general belief these bonds were not loans, of foreigners to help the South (luring the Civil Wee In behalf of Americans the tntut that can besaid is that the conditions under which the bonds were issued made it plain that risks were great. •But whatever the pre- text advanced in defense of repudia- tion, these State debts are a blot on the good' name of the United ,States, and the failure to make a settlement is as unwise politically as it is mor- ally indefensible." And Raymond Turner, . Professor of History at John Hopkins Univer- sity, writing in Current History of January, 1926, discussed this question in relationship to war debt settle- ments, said this: "Many a one in the United States will ponder over this situation at a tittle when his government is insist- ing that foreign debtors shall pay what they owe, all excuses aside, al- though they are staggering under terrible taxation, hard tines, and have a greatly lowered standard of living; and when American statesmen are deploring non-payment or delay as striking at the sanctity of contract and' the foundations of that honesty upon which the relations of men should be founded." The 'final question before me is this: "What reason is there for be- lieving that Germany cannot pay re- parations, cannot be compelled to Pay?" . in answer to this, there is testi- mony, first of all, of the German Chancellor Battening, wins anle- yes- terday informed Britain that when the Lausanne Reparations Conferen- ce: convenes, Germany will tell the world that her ability to pay repara- tions is at an end. There is the tes- timony .of the finance experts of the, Young Plan Advisory' Committee, who, after a complete investigation of Germany's capacity to pay, issued. a report less than two weeks ago in eitich they said: "Germany would be justified ,in de- claraing that she will not be able to make her postponable Young Plan payment of 268 million dollars due next July." And, again: "Germany will also be unable to make the whole of per non -postpon- able Young flan payment of 157 'mil- lion dollar=s next July." This concludes both questions and answers. I can only hope.tliat I have answered fairly,. without prejudice or malice, and that no phrase or word of mine has dimmed what John Mor- ley once called the lamp of loyalty to Reason. tt C01111 e "Idreamed last .night that—er—ah —1 proposed to you. I wonder what that is a sign of?" "It's : a sign that yoti!ve more sense when you are asleep that .when you are awake." ' x: * Wife: "What a time you are, 1.")o he quick. I simply' must go out. and show off` any new fru- coat." Husband: "Wait a minute. I simp- ly Tnttst cut the fringe off niy coat Cuff." "Do you believe in dreams?" :"I ,used to, but I don't: now." "And:why not?" "I married one. five years ago." "Last :night George said he'd :kiss urc or die in the attempt." ' "Did he' kiss 'you?" "Well, he was alive this morning," * >t: * * •'An angler inquired froth his Billie if there we're many fish in a Certain r vt;r, "11 you were to boil the water' you take out of it," said the 'gillie,, "you'd he getting the taste of salmon in yrrAir tea." * 1, "T suppose you visited the great art galleries While you were abroad?" ." ti, we "didn't need to. Yon '':ieci rant dattgliter Paints," Now you can positively identify your favorite D. L. & W. Scranton Anthracite (hard coal) before you burn it. It's trade -marked (tinted blue) for your protection. Order from your ealer NOW— and know what 'blue coal' comfort mewls For Sale in Wingharn by , MacLean Lumber and Coal Co. "Ever been locked up?" demanded counsel, "I have been," admitted the wit- ness. "And .what had you been doing to get yourself locked up?" "I was on a prolonged jury case!" • * * * • "Oh, my!" ,exclaimed the excited woman who had mislaid her husband. "I'm looking for a. small man with one eye." "Well, madam," replied the polite shopwalker, "if he's a very small man Perhaps you'd better use both eyes." * * * * "I have been on this train 10 years" said the conductor of a train that had, just passed through Osh- awa. "Where did you get on," asked the tired passenger. * a: * e At a recent political meeting et was quite obvious that some hecklers were present. The candidate com- menced his speech with: "I ani Isere "So am I! shouted a voice. "Quite so,"retorted the candidate, "but, you are not all there." .1 * * e At a police court the habitual drunkard was summoned for the us- ual cause. "Ten shillings or fourteen days," remarked the magistrate, "But I've only two shillings in the world," replied the prisoner.. "Well, you must go to prison then. If you hadn't spent the money get- ting drunk you would have been able to pay the fine!" Indian Tribesmen, to Help Gandhi London—Forty thousand tribes- men, rnobolized under arms in the northwest frontier province, plan to march upon Peshawar, the capital, and demand the release of Mahatma Gandhi, dispatches to the Daily Her- ald from Bombay, said today. The dispatches said aeroplanes of the Bri- tish Royal Air Force Flying over the district were fired upon by the tribe followers of the aged Nationalist leader. The best thing you can buy for SI1.IOUSl1ESS and SICK HEADACHES Sold everywhere in 25c and 75c red pkgs. mks ks 7lVen PULS ,xt.i( tt'*d0adi85,N.A c Y i o4 t a ta.5+ k.,,-Fir41,hi'N"dlrACt s'* 51* 0', EG s ®0 s dine e, I cos{ ce C Limited Wingham, - Phone 166 U `. SAV 1 N G EY People who save system- atically make fewer needless expenditures and derive satis- faction and comfort in watch- ing bank balances grow. Money is available when they want it and interest coax. pounded half yearly accrues M tl k,.: There is a branch of this ban near you. 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