Valdez Daily Prospector
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THURSDAY, JUNE 4, 1914.
_____ j
EMBARRASSING FOR THE BRIT
ISHERS.
According to the latest reports,
Germany is to have, after all, an ex
hibit at the San Francisco fair—one
which will be more or less adequate
ly representative, even if not official.
Should this turn out to be true, our
English cousins will have against their
government a new reason for com
plaint as to its course in the matter,
for its one defense has been that its
agreement with Germany not to ex
hibit had to be kept.
If the contract concerned only for
mal action as a nation, it was hardly
worth making, and its observance will
be poor consolation to the British
merchants and manufacturers who,
while their enthusiasm for the expen
sive participation in far-away fairs
has much declined in recent years,
still have all along doubted the wis
dom of displeasing good customers
merely because somebody else was
willing to do the same thing.
That European refusals to exhibit
in California have had any effect on
the tolls dispute except possibly to
strengthen in their obstinacy the foes
of exemption repeal can be believed
only by those strangely ill-informed
in regard to American temper and
politics. If Germany has realized this
sooner sooner than England did, she
has stolen a march—one is tempted
to say another march—on her great
competitor for trade in the world mar
ket.
' ===== !
Rallying Around the Flag.
(From Leslie’s). *
. One item probably did more than
anything else to reassure President
Wilson that the nation’s life and hon
or were safe in the hands of all her
sons. When Gen. Carranza threaten
ed because Vera Cruz had been tak
en, there was an immediate demand
from the president’s naval and mil
itary advisers that the embargo on
shipments of arms to the constitu
tionalists which had been raised,
should be immediately restored. They
warned the president that every bul
let shipped across the Rio Grande i
might have to be carried back in the
body of an American soldier. Secre
tary Bryan opposed the restoration of 1
the embargo because it might so in
flame the constitutionalists by mak
ing them again officially a public en
emy!, while he still had hopes of
using them as our allies. President!
Wilson yielded. And then came the
word that saved the whole situation.
The powder manufacturers and mak
ers of arms and ammunition, with
whom the profits of war are assumed
to outweigh all nobler motives of pa
triotism, notified President Wilson
that they would permit no further
shipments to be sent to the consti
tutionalists and that they would not
object to holding at the border such
consignments as were then on the
• way. The result was that a War De
partment order ended the difficulty.
But in a thousand other ways the
nohl.hr sentiments of all the United
States made themselves manifest in
those critical days when the death of
our sailors and marines at Vera Cruz
brought the war clouds down upon the
capital. In, the front rank of those
who pleaded for an opportunity of
sacrificing upon the altar of the nation
were thousands of women who offer
ed to go to the front as nurses. Hun
dreds of womens’ organizations sent
resolutions of aid and of promise.
There had been no call for volun
teers, no summons to the flag. But
veterans of the civil and even of the
first Mexican war, soldiers who
fought in the Indian wars and in the
Spanish war, camp after camp of
Confederate veterans, chaplains of all
denominations, physicians, aviators—
all flooded the White House with of
fers to go to the front, and usually
their offers were eloquent pleas to
be allowed to be among the first to
go. Nor was this by any means con
fined to men of American birth. From
all over the country organizations of
foreign-born citizens, many of whom
had fought in European wars, sent in
resolutions declaring loyalty to the
flag and offering their service in ahy
capacity the president could accept.
How the Wilson
Hopes to Curb
First Definite Information
Contained In Report of
Secretary Redfield.
SALIENT FEATURES OF THE
PROPOSED TRUST INQUIRY.
A law declaring all restraints of
trade to be unreasonable.
A law against the "watering" of
industrial securities.
A law against interlocking corpo
rations.
A law against interlocking offi
cers and directors.
The dftermination of whether or
not trusts are socially and econom
ically efficient in production.
An Investigation by the bureau of
corporations Into this question and
an appropriation of $431,700 for the
purpose.
An inquiry Into the question of
fixing retail prices.
An inquiry into the cost of pro
duction of clothing.
THE annual report of Secretary
Ked field of the department of
commerce throws the first defl
\ nlte light on the present views
of the administration in regard to the
regulation of industrial corporations.
It contains suggestions which, it is
believed, indicate clearly the charac
ter of the program the Wilson admin
istration will recommend in its efforts
to have anti-trust legislation enacted
at this session. ,
Joseph A. Davies, commissioner of
corporations, is one of the men with
whom the president has conferred in
regard to the anti trust program about
to be introduced in congress.
Mr. Davies also has conferred with
the leaders of congress. His recom
mendations incorporated in the report
of the secretary of commerce are there
fore regarded with significance.
The Indicated Program.
This is what the report says on that
subject:
‘•That there are immediate and well
known conditions that should and can
be remedied by law is apparent. Some
of these remedies are, for instance, a
law providing that there shall be a
presumption that all restraints of
trade are unreasonable and placing
the burden of establishing the reason
ableness of such restrain upon the par
ty alleging It; legislation looking to
fundamental charter provisions for ev
ery corporation doing interstate busi
ness;, that stocks and bonds shall not
b<t issued except for money or prop
erty at its true money value, prevent
ing the watering of stocks; that cor
porations shall not hold stock in other
competing companies, and that neither
a person nor a corporation shall at the
same time own a controlling Interest
in two or more competing corporations,
and that the officers of corporations
shall not be affiliated directly or indi
rectly by holding office in other cor
porations.”
That the above reflects the adminis
tration's program seems to be further
indicated by Hie following from Sec
retary Itedfield's report:
"Congress will undoubtedly address
itself to some of these aspects of the
situation with curative provisions.”
Government’s Ultimate Attitude.
The report goes on:
“Regardless of such legislation, how
ever, there still remains a fundamental
economic fact to be determined—to
wit: Whether the trust or monopolist
ic form is socially and economically
efficient in production, as is alfeged.
and upon the solution of this problem
must depend the ultimate attitude of
the government toward combinations
and consolidations in business.
“It is contended by some that with
the Increase in the size of industrial
enterprises there goes a reduction in
the cost of extraction, manufacture
and distribution, and that such reduc
tion in cost is accompanied by lower
prices to the consumer and does not
involve a reduction in wages or an im
pairment of the conditions of labor.
"Even if these conditions were true
the question would still remain, of
course, whether the evil resulting from
large combinations would not be great
er than the alleged advantages of
cheaper production.
“It Is QOUtenuefl, on uie onier uuhu.
that the source and origin of monopoly
Is found chiefly Jn the desire to exploit
the general public .by stock jobbing
schemes for the Immediate profit of
the promoters or In the purpose to at
tain control of the market and exact
uuduly high prices from the consumer.
“Many large combinations have dem
onstrated their economic efficiency.
Combinations which have attained
control of the market. It is admitted,
have prospered, but this may be due
to monopolistic position rather than
to superior efficiency.
“According to this view there Is a
polut beyond which Increase in else
does not result In Increase In efficien
cy, but rather in i loss and waste, so
that the maximum efficiency Is not at
tained by large combinations, but by
concerns of moderate sice.
“If this latter contention be true,
then, as has been said, tbe monopolis
tic system contains In Itself tbe seeds
of Its own decay, and tbe preper Sftl
tnde of government must be regula
tion of competitive conditions and not
icgnlntton of monopolistic factors." -
Tbe report orgee n^ JtaveSdgndon
%y Ibe’ MNonn of BBHwaffi— to
Administration
Big Combinations
Inquiry Into Economic Value
of Trusts and Retail
Price Fixlnq.
throw light on this big question. Sec
retary lied field advocates an appropri
ation of $-131,700 for tills inquiry intc
the efficiency of industrial combina
tions. He says:
"It is deemed desirable that the bu
reau of corporations shall undertake
a study of certain fundamental eco
nomic laws on which all our indus
tries are based. There is a growing
position in the minds of experienced
and thoughtful men as to whether the
‘trust’ form of organization is indus
trially efficient and whether bigness
and bulk are always necessary to pro
duetion at the lowest cost.
“it may be conceded that massing
of capital and the grouping of great
quantities of labor have certain ele
nients of efficiency. They permit re
search on it large scale. They dt
away with excessive expense in the
maintaining of separate offices and
numerous sales organizations. They
provide means for the purchase and
use of apparatus that can only be em
ployed where production is large.
“All these things and others like
them nre unquestionably true and ac
count for much that has been done in
promoting the great Industrial combi
nations that are so largely discussed
among us. But it is doubtful at best
whether these favorable elements are
all the factors that exist and whethet
there does not come a point of maxi
mum efficiency at minimum cost be
yond which an increase of product
means an increase of cost per unit of
that product.
“Significant Events.”
“It is significant that some of the
groat trusts have ceased to exist, that
others pay.but moderate dividends, if
any, on their securities niid that side
by side with tile most mighty and sup
posedly the most efficient of them have
grown up independent organizations,
quite as successful and perhaps earn
ing more upon their capital than tlieii
powerful competitors.
“Furthermore, it is undoubtedly true
tlnrt many of tlie most profitable busi
nesses in the country are those of
moderate size aud that this is so eveu
in lines where large concerns exist of
apparently less earning capacity.
“There is no criticism here of big
business as such, hut merely the ques
tion as to whether big business has not
its very marked limitations and wheth
er there are not cases where bigness
is rather less desirable than efficiency.”
Fixing of Retail Prices.
Secretary Keilfield declares that it is
important that we should know the
truth about the fixing of retail prices
and as to whether giving the privilege
of so fixing the prices to a manufac
turer tends toward monopoly or does
not so tend. On this point he says:
“Men who are sincere and well in
formed do not think alike on this
problem, but whatever their views it
will be agreed tliAt no thorough study
has ever been made of the subject In
this country. Nations abroad are said
to favor by law that which we forbid.
“The law with ns is for the time
fixed by the decision of the supreme
court—that the fixing of retail prices
on the part of manufacturers is un
lawful. If, however, new legislation
should in the future be required it is
important that the truth be known
lest injustice he done, not so much to
the manufacturer ns to the consumer.
“Some men. well Informed, argue
that the fixing of retail prices under
conditions where competition In manu
facture exists tends to promote com
petition. Others suy that the refusal
to permit the fixing of retail prices
tends to monopoly, because, in the cut
throat competition certain to follow,
obviously the stronger competitor will
survive and may eventually have the
business in Ids own hands, for the law
forbids the making of Agreements to
maintain prices, and under these cir
cumstances the weakest must go to
the wall.
“Such being the views expressed by
thoughtful men on a matter in which
every consumer is interested, because
lie must needs buy such articles, it is
important that the subject should re
ceive thoughtful study, and this the
bureau of corporations proposes to give
to it”
An inquiry into the cost of produc
tion of clothlug also is advocated by
Secretary Redfleld.
NOVEL THEORY OF SUN SPOTS.
Farmed by Fregmente Which Meteere
8trike From Saturn'a Rings.
Herbert Hall Turner, Savillan pro
fessor of astronomy at Oxford. Eng
land. baa promulgated a novel theory
that sun spots are formed by frag
ments. struck from Saturn’s rings by
meteors - known* aa- leonida. These
fragments falling on, the -sun cause
disturbances on fta surface
Professor Turner, ip an article in tbs
Ixmdon Time*, anyplt to Improbable
that the idea has occurred - previously
to any on*. mnrf'he Aspects that It
will be received‘with incredulity, bat
be -contends that tbe evidenee la its
favor to strong and easily preaeotabl*.
He clabne that Oblneae records of
nearly 3.800 years age peeve We theory.
Don’t Forget
when ready for your Spring house cleaning
to call on us. We carry
Rugs, Linoleums
Beds, Springs and
Mattresses.
Just received a large variety of white and fancy
PROFESSIONAL
Dr. H. COCKERILLE
Graduate of National University
Washington, D. Cl
DENTIST
Phone 110 Fourteen years in
Office Rooms over VALDEZ
Valdez Drug Co.
DR. GERMAN
phone is* THE DENTIST
Office rooms over Owl Drug store. Office hours
9 a. m.. to 6 p. m.. 7 |i. in., to 9 p. in. Sundays
by appointment All work guaranteed
DR. C. H. VANCE
the OSTEOPATH
Graduate American School of
Osteopathy, Klkrsville. Mo.
OFFICE HOURS-* Is 12a., 1 tsS,. a., srb,
TREATMENT 1*2.50
Office and Rasidence Court St. PHONE 213
E. E. RITCHIE
LAWYER
ppONEim Valdez, Alaska
G E. BUNNELL
ATTORNEY-AT-LAW
Offices Wall Street.
Phone 3i VALDES
F; BUTTERWORTH
!Civi! Engineer and
U. S. Deputy Land and
Mineral Surveyor
*
Blue Printing Latouche, Alaska.
Geo. f. white
The Assayer
Assaying and Ore Testing
CORRECT RESULTS
No1 More, No Less
VALDEZ. ALASKA
H. O. SMITH
Expert Painter and Paperhanger
First] Class Work Guaranteed
♦
' RUDOLPH’S PAINT STORE.
! City Express
Meets all boats.
WE buy, rent, and tell house*, cab
ins fumiturejand everything else
Phone 82
Steam Heat Electric Light*
THE COPPER BLOCK
Finely Furnished Rooms All Modern Conveniences
Good T«|r n|irrrT Good
Goods I lit DUlltl Goods
Copper River Lumber Co., Inc.
ALL KINDS OF
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CONSTANTLY ON HAND
Price. Right W. M. FINICAL, Mgr. Phone Ifc
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HOME OFFICE, WHITE BUILDING, ISEATTLE, U. S. A.
A. E. RANSOM. E. A. PALMER. Resident Agent.
DWuiM Sipt. far Alaika. Offict witfc C. G. Caity-P. 0. B«« 200.
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