Indianapolis Times, Volume 38, Number 168, Indianapolis, Marion County, 20 October 1926 — Page 9
OCT. 20, 1926
G. 0. P. IS FACING INTER PARTY ROW • OVERIFREETRADE 3ankers Sponsor International Drive Against Tariff to Save Europe. Bu United Preen WASHINGTON, Oct. 20.—The Republican party served notice today it will cling to the protective tariff despite the international drive against tariff and trade barriers sgynsored by leading bankers and economists of many countries, including J. P. Morgan of New York. The Democrats, on the other hand, were expected to utilize the Manifesto of the international group as support for their traditional policy of free trade. President Coolidge, through his spokesman, let it pe known he saw in the preliminary reports the new tariff drive only a move of international bankers and importers who naturally favor liberality % in tariff matters. Manufacturers and labor, the spokesman held, want protection. It was not clear to officials here today just how far the manifesto involved a drive against American tariffs, but the fact of Morgan's
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participation Indicated that America, too, was destined for the trade assault. | ~~ Fight Within Party
The pronunciament was expected to sharpen the fight within the Republican party on tariff. One group of big bankers, who profit by free exchange of international trade; department store and 5 and 10-cent store people and the like, within the Republican ranks, want lower tariff or no tariff. have agitated before, the Coolidge group, however, is aided by the present prosperity era and will advocate continuance of the present tariff system. Tariff, for instance, plays a strong role in the Massachusetts campaign, where Senator William Butler is seeking reelection against the popular Democratic campaigner, former Senator David Walsh. In the Bay State the Democrats recently have swung over to a partial tariff protection platform—at least as far as Massachusetts industries are concerned.
ECONOMIC CHANGES SEEN Europe Needs Freedom of Trade to Recover, View. Bu United Press BERLIN, Oct. 20. President Schacht of the Reichsbank has intimated that he expects vast economic changes in Europe to result from the publication of a marfifesto against trade barriers which was signed by American and European business men, including J. P. Morgan. Discussing the manifesto, the contents of which first were revealed Tuesday, Schacht said the signatures of American business men did not signify undue American Influence in European affairs, but merely emphasized the impetus the United States would be able to lend to the economic revival. ‘‘Governments were not identified with the manifesto,” said Schacht, “but it must be recalled that the few outstanding economists who prepared the Dawes plan paved the way for governments to act.” Trade Is Not War Europe cannot recuperate, according to the manifesto, until the politicians perceive that trade is not war but a process of interchange. Limited Imports must mebn decreased exports and therefore freedom of trade is best adapted to'the reconstruction of commerce and credit. Observers were agreed that the manifesto was for the purpose of exerting pressure on the politicians who have raised and who maintain the barriers to which the business men have taken exception. Whether or not Schacht expected the manifesto to result in the creation of something of the nature of a Dawes' committee of experts to consider means of alleviating the. situation was not revealed, but Schacht’s reference to the process whereby the present Dawes plan was made operative caused speculation along that line. Natural trade, according to the manifesto. Is being impeded by restrictions, prohibitions and the like and this situation has been aggravated by the disappearance from Europe of some of the larger political units and the creation of new States. Austria Cited In place of Austria-Hungary, for instance, there now Is a group of smaller States each with Its own tariff regulations against the other. Factories In one area of the former Dual Empire which before 1918 drew upon the raw materials of another area and were able to sell a considerable portion of their manufactures within the confines of one political unit, now find themselves separated by tariff barriers sometimes from their source of material, sometimes from their markets and frequently from both. Uneconomically high pricts have resulted, according to the protesting business men. What the manifesto sought to suggest, it was believed today by at least some authorities, was of the nature on an economic union of such dependent areas in order that some of these disabilities might be removed. STATE GRANGE MEETS Bu United Press LAFAYETTE, Ind., Oct. 20.—Delegates to the annual convention of the Indiana State Grange, now In sesteion at Perdue University, today will make a tour of inspection of the Purdue experimental farms and neighboring Herford farms. GOSHEN. —An automobile which had been stolen more than a year and a half before was returned to its owner when John Unftnel. riding along the road, recognized a passing car as one he had had stolen in 1925. He Identified the car, had the driver arrested and was again the owner of an automobile.
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S. H. S. Students to Attend Press Meeting
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Members of the staffs of the Short ridge Echo and annual, who will attend the press association convention: Left to right, front row: John Kitchen, Martha Hrawford and Robert Whitham; center row, Ehner Blati, Caroline Hofft, Charles Rouselog, Iris Hollins, Russell Townsend and Myra Triller; back row, Thelma Porter, Miss Mary Pratt, John Waltz Lillian Pierson, Morris Houghton, Ruth King and Thomas Woodard.
WALL ST. AGIN 1? HAW, HAW ATWASHINGTON 4 Why, Watson Helped Bankers Out by Debt Vote, It’s Said at Capital. By Roscoe B. Fleming, Times Staff Correspondent WASHINGTON, Oct. 20.—“ He says Wall Street and the international bankers are lined up against Jim Watson because of the World Court issue. Haw, haw!” This was the general note of surprise and with which Washington received the recent news that State Republican Chairman Walb had charged that the “international bankers” were spending money in every Indiana precinct to defeat the Republican Senators. The surprise was accentuated, because, whil'j Watson and Robinson voted against the World Court, after a long period of apparent inter-' nal doubt, their votes were not needed to approve tjie court, and, it has since been hinted) Watson, at least, may have voted with his fingers crossed. — „ Voted With Bankers On another foreign issue which was as bitterly fought and on which the vote was far closer—that of the foreign debt settlements, and particularly the Italian debt settlement—the Indiana Senators voted, according to opponents in debate, exactly the way the international bankers would have them vote—for the settlements. SeAator Howell of Nebraska, for instance, and Senator Johnson of California charged that Morgan & Cos. Were floating w $100,000,000 loan to Italy on whiclv the bankers would collect 7 per cent, while the American people as a whole were collecting 1 per cent on the debt. The bankers were in favor of - the debt settlement, they said, because It would make safer the bank loans. They figured that the Administrations sixty-two-year settlement of thy $2,150,000,000 debt "tltoant that the United States Is really accepting about $600,000,000, or less than onethird of the debt, If the United States settlement Is figured at its present value. Ten Billion Loss Howell, Indeed presented a carefully worked-out table showning what he claimed citizens of each State would lose by the administration’s settlement, as against full collection of the two billion dollars with full Interest. The United States loss as a whole, he said, would be $10,000,000,000. If only the actual money involved Is counted, he said, Indiana would lose $129,000,000 during the sixty-two years of the agreement. If, however, the settlement is compared with the sum which would be realized by the United States if the full Italian debt, with interest, were collected and put to work, Indiana would lose $277,000,000. Senator Johnson said: “The trouble with this settlement is that It is the settlement of the international bankers. Morgan & Cos. says every one Is in favor of his settlement, which virtually collects one and a fraction per cent interest for sixty-two years, and then forgives the entire debt.” Senator Reed of Missouri estimated the United States loss In the settlement at moro- than six billion dollars. After this debate, In which Watson and Robinson took no part, the vote was 54 to 33 to approve the settlement, both Watson and Robinson voting aye.
CAR ‘THEFT CHARGED Son Takes Auto Out, Though * Father Had Ordered Otherwise. Following orders of the young man’s father, J. L. Blanford of the Central Buick Company, 2917 Central Ave., had Max Lorey, 24, of 3702 Central Ave., arrested on vehicle taking charges Tuesday night, when young Lorey drove the family auto from the garage. The father, In the hospita, had asked that no one be allowed to use the car. When Blanford would not give him the keys, Lorey hooked wires around the switch of the" car and drove it away. EMERGENCY EXTENDED Bu Times Special LONDON, Oct. 20. —King George today proclaimed the continuance of the emergency which began with the general strike of last May. He summoned Parliament to meet Oct. 25 po extend the operation of the emergency regulations for another fnontfe.
THE INDIANAPOLIS TIMES
i Fifteen Shortridge High School students, members of the Daily Echo and anflual staffs, will be In attendance at the annual High School Press Association convention In Franklin, Friday and Saturday of this week. Miss Mary Pratt, a censor of The Echo and iliss Carolyn Ashbrook of the Shortridge art department, will accompany the group. William N. Otto, head of the School’s English department, also will attend the convention and will make an address.
SEEKS PARK CONVENTION City Official Armed With letters Inviting 1927 Session. In an effort to bring the national convention of the American Institute of park executives to Indianapolis in 1927, R. Walter Jarvis, city park superintendent, will present letters of invitation from Governor Jackson, Mayor John L. Duvall, Richard Lleber, director of the State conservation department, and from the convention bureau of the Chamber of Commerce and the Indiana Park Association at the convention next week at Houston, Texas. Indianapolis stands an excellent chance of landing the convention, because of Its nationally-known parks and public goif courses, Jarvis pointed out. The convention, which includes the American Park Society, nas an attendance of 500 park officials from all parts *ot the country. PREDICTS VARE WILL WIN * Will Be Seated—No Corruption, Says Senator David Reed. dm. Bu United Press WASHINGTON, Oct. 20.—Pennsylvania will elect William S. Vare Senator and the United States Senate will seat him, Senator David A. Reed, Republican Pennsylvania, declared here today absolving Vare from blame in the J 53.000,000 Republican hlch designated him a senatorial candidate. The fault of large expenditures by Vare and his opponents lies In the primary system which may be repealed by the next Pennsylvania Legislature. Reed, a close friend of Secretary of the Treasury Mellon, declared. In the disclosures of large sums spent In the Republican primary there was no evidence whatever of fraud or corruption, Reed contended. ‘GHOST CAR’ ON ROUNDS Radio Show Booster Puzzles Downtown Crowds—Continues Trip." The radio-controled “ghost car” made several demonstrations to largo crowds of spectators in the downtown districts today. The car has been brought to Indianapolis for the entire week by officials of the radio show, which opens at the State fairground next Monday night. At 7:15 tonight the car will be shown in West Indianapolis, in the 1200 block, Oliver Ave., and at 8:15 In the 2100 block on W. Michigan St. The schedule for Thursady: 10 a. m., radio show headquarters, 36 W. Ohio St.; 11 a. m., Monument Circle, south side; noon, Vermont St., between Meridian and Pennsylvania Sts; 2:30 p. m., city hall, Alabama St. side; 3:30 p. m.. Chamber of Commerce, N. Meridian St.; 5 p. m., Kahn Tailoring Company factory, N. Capitol Ave.; 7:16 p. m., Central Ave. and Thirtieth St.; 8:15 p. m.. College Ave. and Fairfield Ave.
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Automobiles reported stolen to police belong to: Merchants Heat and Light Company, Pine and Daly Sts., Ford, 11-554, from Georgia and Illinois Sts. D. F. Wheeler, Sanders St. and Barth Ave., Chevrolet, 687-282, from 3525 N. Pennsylvania St. Central Buick Company, 2917 Central Ave., Buick, 14-058, from that address. Clarence Deck, 2503 Broadway, Ford, 650-674, from garage in rear of that address. IT’LL COME OUT When grease has been spilled on marble, remove it this way—make a strong solution of sal-soda and add enough fullers’ earth to make a thin paste. Cover the spat with this and let it remain for twenty-four hours. If ta the end of this time the! Stain has not been entirely removed, repeat the operation.
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TWO KILLED AND SEVERALTNJURED BY AUTOMOBILES Span of Mules Run Away. Driver Dies —Man Hit by Machine Succumbs. Two men were killed and a number of persons injured in a series of automobile accidents Tuesday afternoon. Newton Watson, 63, Ben Davis, was killbd when a span of mules he was driving became frightened after being hit by a machine driven by j John Sandsberry, 865 Indiana Ave. j Watson lost control of the mules and | fell from the wagon, crushing his skull. He died a few minutes later 1 at th 6 Indiana Christian Hospital Sandsberry is charged with involuntary manslaughter. Frank Forsythe, 69, of 121 S., Oriental St., died at the city hospital after he had been struck by a ma ! chine at Southeastern Ave. and Washington St. Witnesses said j Forsythe dodged across the street In front of one machine but was | struck by another, driven by W. H. I Erwin. 590 East Dr., Woodruff Place. 1 Slippery streets caused John Tate, 4450 Manlove Ave., and his daughter. Miss Elsie Tate, to receive severe j injuries, when their machine crashed into a gravel truck parked along the road on N. Keystone Ave. Tate said the gravel truck had tlo tail I light. He was injured about the head. His daughter suffered a deep gash in her right temple and injuries to her right shoulder and right leg. Lillian Freeman, 15, of 1727 N. New Jersey St., was Injured when she was struck by a machine while attempting to cross the street at Eighteenth St. and Central Ave. Har ry Kafader, 1804 Spann Ave., driver of the car was not held. Mrs. Viola Harblson, 1524 ton Ave., sustained minor cuts and j bruises when her machine skidded into a machine driven on Fletcher Ave. at Shelby St. by Joe Murello. 541 E. Merrill St. Both machines were wrecked. Police were searching for the driv-
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er of an automobile who fled from his car after he had driven off a ten-foot embankment at Indiana and Sugar Grove Aves. Frank Dugan, 825 E. New York St., told police that the machine swerved against hi? car, parked at the curb, and then ran down the embankment. Surviving Forsythe are the widow, six sons. Rex and Clarence of Bloom -ington, and Cuy, King, Charles and Max of Indianapolis; a sister. Miss Ida Forsyth}, and a brother, Thomas E. Forsythe, both of Indianapolis. Services will be held at 9 a. m. Thursday at the home, with the funeral and burial in Bloomington Friday. ELEVENTH WARD VOTERS TO RALLY William D. Headrick, candidate for Congress from the Seventh dis trict, will speak tonight at a rally in the Eleventh ward, Merrill and S. East Sts. Appearing with him
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will be Mrs. Edna Christian, candidate for the Legislature; Thomas McGee, candidate for judge of Superior Court Five, and Charles Sumner, candidate for sheriff. Through an error in dating this meeting was announced for Tuesday night. Democrats of the* Thirteenth ward will hold a rally Thursday night at Kansas and Meridian Sts., at which Mr. Headrick will speak. Henry Winkler, candidate for the Legislature, and Richard Coleman, candidate for county clerk, will also speak. Siipilar rallies will be held on the sarfie night in the Tenth ward at McClain’s Hall, State and Hoyt Aves., and in Wayne Township at the high school auditorium at Ben Davis. Headrick and county eandi dates will speak. Through an error, these meetings were announced for Wednesday night instead of Thursday. Friday night a mass meeting will be held at Sixteenth and Olney Sts., First ward, at which Headrick and Clarence Weir, candidate for Judge of Criminal Court, will speak. The Democrat Progressive Leagne will give a card party and dance at the Indiana Democratic Club Friday night to which the public is invited.
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AN APPOINTMENT Hu United Press WASHINGTON, Oct. 20.—Appointment of Maj, Clarence M. Young, Des Moines, lowa, as chief of air regulation and inspections of the Commerce Department, was an nounced today.
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