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THE 0iiMiLOTi`E|'0Wl| Glihiiillhi

'President-W Chester S. aicl.ure_ al. P. Vice-President-J. R. Burnett

Secretary-Lieul.-L‘pi. D. A. llaclfiunon. D. S 0. l-Iiilior and Managing Director-J. ll. Burnett

Associate Editors-Frank Walker and D. K. Currie .

Morning Daily (founded 1881) $5.00 per year (ia advance) delivered. $1.50 per year (ln advance) mailed in Canada and United States. Al)\'El|.'l‘lSlN0 REl'KESEN’l‘A'l‘I\'lS

UN1'i`ED S'l`A'l‘ES-Tho Beckwith special Agency Inc. New York Central

ug, Kansas City, Willoughby Tower Building Chicago: Syndicate Trust uililing, Sl, Louis; Glenn l!uiirlIng.Atlnntn; Monadnock Building San ranenen; mr. N.»_ cms sneer f»ni|ou.»|piua '

Fullding, New York City General timers Bull\llng_ Detroit interstate Build

Morning Maxim ` `

The advantage about having a lot of children is that some of them

may be different from the others. e

`.' SATURDAY. DECEMBER I. 193

yr _

WAR DEBTS 1 the

f A masterly summing up of the

,Var debts situation is given in the ptatcment issued on Thursday from _Que British Embassy at washing- ton, The statement. is in reply to

moratorium adopted as the re-

sult of Mr. Hcover's initiative last year, apprehensions created by 31° situation in that country GSUBGG large withdrawals of credits which in turn involved London as a lead- ing international centre. Conse-

.the insistence of the United States i quent movements of capital forced

_am the war debts payment due on

Dec. 15, and advances cogent rea- ` the

#lent at the present time. :A The system of war debts, notes Qhc statement, was called into be- lngby the war requirements of the belligerent nations. The re-

bources in manpower and produc- tion of the allied countries had

itrom 1914 been wholly employed in

the prosecution of the war; their

normal trading activities were to a

large extent suspended and they had therefore less than their nor-

mal resources available for pur-

-chases abroad. But the vast re-

_luirements for war purposes in any lass far, exceeded any normal

means to pay and could only be financed by means of loans from pmducing countries.

The loans raised, whether they

were market loans or govemment loans, were taken not in the form

of money but in the form of goods lnd enormously augmented the .Volume of the exports of the lend- lng countries. For example, before li915 the United States export sur-

plus normally varied from $200,- 000,000 to $600,000,000. In 1914 it ex-

'oeeded $3,000,00D,000 and in 1919 it

.Was $4,000,000,000. The United States made loans t0 the allies (in-

cluding the United Kingdom) to- talling approximately $10.000,000,000

f(£2,055,000,000 at par); the United

United Kingdom to abandon Gold Standard and while ster-

the

Ions for a suspension of pay-'1ing'has remained more stable in

terms of goods than gold curren-

cies, the events of September, 1931. gave a. profound shock to confl- dence in the monetary system throughout the world. Thus the baneful effects of these unnatural transfers in respect of reparations and war debts have gravely ac- centuated the difficulties of all five

continents including many coun- tries which were neither debtors

nor crediwrs in "the tragic book- keeping” which resulted from the war.

Attention is called to the unpre-

cedented effort which the British Government has made to meet its war debts. The total British war expenditure in the United States

amounted to approximately |12,- 000,000,000. Of this total only about one-third was financed by borrow- ing from the United Statm Gov- ernment. The remainder was ob- tained by the sale of gold and of securities representing available capital assets and by commercial loans raised in the United States

market before the entry of the United states lutotne war. 'rue

total of these debt payments which the British Government has made to the United States since the war

amount to $3,0B3,000,000.

Meanwhile the United Kingdom

Kingdom made loans to its Europ- had claims on its allies in respect

'ean allies amounting to £1,600,000,- of

D00 equivalent (at par) to $7,800,- D00,000; the French Govemment had made similar loans equivalent Kat par) to $2,237,000,000. In the lggregrfte these loans reach the

colossal total of approximately $20,- 000_000,000 (equivalent at par to Dvor £4,000,000,000. .

If the course of. commerce were

'liciloctcd to the extent required to pay these wnr-time debts it would entail a radical alteration in the economy both of debtor and of

creditor countries. The debtors have inode flcspernte efforts to meet their liabilities, but the conditions

'nf payment, especially since 1931, liar: become more and more hope- lc~.s.

The reason for this is given con-

vincingly, War and reparation riobis are radically different from

the cmnnicrcirzl loans raised by for- eign aww'-1-iznicnts on the market T01 llf"fil1Cfi\'i’ Purposes, Such com-

mcr'1'l.‘.l l~.i:‘..°. are normally sclt'-li- lluidntiizfr. 'Flin market loans thus

zai.=.r~fl zlf1rir;1_f 'hc lac; liundrcd

5’Ci1l‘S i1'i'1'i,‘ c~:1'.'» rfvil wholc territ- orics from <l»,..li‘.~ sn-:unps or un-

inlmliilncl plain.: fo flourishing provinces tccrniug vsiiii human life

and prozlucizifz f1i'<a‘.'udtliti0n_; gg

the \vc:1li`ii ni' the ‘.':nrlrl_ Such pro- ductive loans directly afford means

whereby the borrower can rf.;-my them with inici'c.°.t; :mil at the

Iame time become more prospiir-

D115.

But reparations and war loans

represent expenditure on destruc-

tion. Fertile ficlds were rendered barren and populous cities a shat-

tered ruin. Such expenditure in- stead of producing a slow and

steady accumulation of wealth de- stroys in a few hours stored-up riches of the past. Like the shells

on which _they were largely spent these loans were blown to pieces. They have produced nothing to re- pay thcm and they have left be- hind nothing but fresh complica-

tions nnd pcrplexities.

The difficulties of maintaining

payments fixed under existing am-cvnicnis first became acute in the case at Fumany and despite

the war loans it had made. The

advances made amounted to £1,- 600,000,000 (S'i,800,000,000) and had increased subsequently by the ad- dition of unpaid interest to the capital. Shortly after the war the British Government offered to _loin in any equitable arrangement for the reduction or cancellation, of inter-allied debts provided it was of an nll~a.round character. That

proposal was not accepted and the British Gcvemment were called upon to fund their debt to the United States of America. They then announced that they would limit their demands on their own

debtors to the amount that they were themselves required to pay to their creditor. The fact that His

Majesty‘s Government were the first to fund their debt to the Unit-

ed States of America., and that some time elapsed before their debtors

completed funding agreements with them, has resulted in their receipts from their debtors being less than half their payments to their cred-

itor.

The relative position is that the

United States of America made

loans amounting to $10,000,000,000 (£2,055,000,000) and thc United Kingdom made similar loans

amounting to $7,B00,000,000 (£1,800,- 000,000); the United States have received for the benefit of their

taxpayers $2,112,000,000 (£434,000,- 000> and the United Kingdom have received for the benefit of their iB.XD\1vcrs nothing, have passed on all their receipts to the United States and have paid out of the pockets of their taxpayers to the United States $651,000,000 (£134,- 000,000>. In fact when interest has been taken into account, some £200,000,000 ($973,000,000 at par) has

been found by the British taxpayer.

If payment of the sums due in

respect of the British war debt to tho United States Govemment were to be resumed, His, Ma_1esty's Govemment would be obliged to re. open the question of payments from

their own debtors-France, Italy, Portugal, Yugoslavia, Roumania, Greece, and also the British Do-

minions. Th( debtor count;-ii;

would in turn have to demand pay-

ment by Germuiy of her obliga- tions under the YounB Piilll 0-Hd the United Kingdom would have to do likewise. Under those conditions

the Lausanne agreement could not be ratified; the question of repara- tions would remain unsettled: the improvement in confidence Whivh followed the Lausanne l8'l’°¢m¢“"'

' would be undone and fatal results

might well be found to have ac-

crued to the solution of ma-ny grave political as well as financial problems. `

Moreover, says the note, "lf WHY

debt payments had to be resumed. it is apparent that the exchange position of t-his country W°i1id “Wd to be strengthened by a r€d\10ti0¥\ of the very heavy adverse bB»1B!1¢° of the visible trade of the United Kingdom and the United Static! which amounted to £’18,000,000 in

1931, In me present circumstances this could only be done by adopt- ing measures which would furthcr

restrict British purchases of Am- erican goods. 'rue United Kingdom has up to the.present generally been the best customer of the United States and the d-result of

such restrictions would inevitably be to reduce specially the market in the United Kingdom for Ameri- can fami products. To the extent therefore that payments were re- sumed to the United States Treas- ury a definite and unfavorable re- action must follow to the United States producer."

The note, which gives illuminat-

ing details in support oi' every ar- gument aclvanced, concludes with the assurance that His Majesty’s Govemment "are convinced that the prospects of success would be

materially improved by the post- ponement of the December install- ment and they are prepared to consider with the Government of the United States any manner ,in

which that postponement might be

most conveniently arranged."

JAPAN’S WAR BILL

Perhaps the financial and econ-

omic consequences of war may make a. profcunder impression on Japanese minds than any criticism of the aggressive militarism of its

leaders by outsiders. Japan may flout the League of Nations, but it cannot ignore the facts presented in a. recent press despatch from

Tokio. These facts show the Japan- Use Govemment budgeting for $447,800,000, the largest sum in its

history. “The 1933~34 outlay," says the despatch, "swollen by demands of the army and the navy, chiefly in connection with Manchuria, in- volves a deficit for the year be.. running April 1, 1933, of $179,400,000, for which bonds must be issued."

Under conditions of modem war-

fare it is no longer true that "to the victor belong the spoils.” To the victor, even more than to the vanquished, belongs the obligation 0f Paying the bills.

KALUED SERVICE

Mews John McKenna and J. .1.

MacKinnon. whose connection with the City Appeal court terminated on December lst, have to their cred-

it long and honourable records in civic affairs. Mr. McKenna's record Of service is equalled in few muni- cipalities in canada. A member of the City Council for six years, he

also served two years as Mayor, six years as Water Commissioner, four .Year as chairman of the Board of Writer Commissioners and four years as member of the Appeal com.;

Many changes have taken place Sil1°° Mr. McKenna entered the Council in 1910, at which time elec- tions were by open ballot. He has

token active part in many improve. ments which have been made in

civic affairs since that time.

Mr. MacKinnon 5,150 hm pe,-form.

ed valuable service to the city. Notabiv to his Credit is the fact that 110 was chairman of the street com- mittee of the City Council when i-11° improved system of paved streets was lnuagurated, and it was his initative and persistence in advocating street improvement that

‘result/ed in the present excellent

System of streets and storm sewers

which has been so favorably com- mented on by visitors.

I I

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' I

ll0TES BY THE WAY,

- I

The New York 'l`im¢l UW! 5i““'|

mu-Lses the general effect of the’ agreements reached by the receni- Imperial Conferenc. “lu markets which reach around the world. from Glasgow to Vancouver and Welling- wn w cape Town, nations outside

nrgnef duties on a ifms list 01 swds

are ee;-tain to be affected. The De-,

that in the United Kingdom the new preferential treaties will be

ad; similar treaties will affect ex-

ned at $69,000,000. Our stake in the British experiment is thus $150,000.- ooo or between one fifth and one six o o

abroad How much of this we shell 105° depends chiefly upon the abil- ity of British manufacturers to take advantage of the special favors ,gfantsd them in Canadian markets."

is that of the western farmer Wh0

ego md paid more attention to

that any serious consideration will

Th, wud 1, .ll right, says the

Iondon Daily 3¢DT&5l» it is tihe soundest unit of currency in the world today. Behind it are the char- acter and resources of the British people. Nothing can destroy its va1ue.`But the foolish say»D§S Of our public men and the i!'1'€SD0¥l' sible actions of isolated mobs can tmnpomrily depress it..

Interchange between the Canad-

ian and United Kingdom 80V¢m‘ ments make it clear that the latter will guforca its wheat preferences in a manner calculated to P11511 "dmc through Canadian channels." _The despatch goes on to say: “The in- tention of the British authorities. according to word now rece.ved by the Ottawa Govemment. is i~° N' quirs the strictest documentation. This will apply particularly to ship- ments of wheat, and while it will not prevent export through Ameri- mn ports entirely. it Will llmlt. ii' 1,0 the minimum. The ,only export which will be possible through an American port will be on a. through bill of lading, which interpreted with the strictness which the British authorities are now understood to intend wifi virtually 'be possible only 'n the case of a bona fide transac- tion between a Canadian exporter and a British importer.

Foreign language films are to be

used in the high schools in New York as an aid to the teaching of modern languages. The customs, art and hl.story`of life in other count- ries, with foreign diamrue, will be utilized on the screen in a new vis- ual-aural method. This sounds like an intelligent use of the movies, and gives an indication that t-he screen can be properly used for a great many things besides the fat- uous love scenes _that Hollywood produces.-.Boston Post.

All crimes of theft committed by

adults have increased materially dur- ing the present economic depression, Dr. Vernon Jones, of Clark Univ- ersity, Worcester, Mass., has report- ed to the Journal of Social Psychol- ogy. A year to year comparison of economic conditions with records of arrests showed that in nine cases out of eleven, when unemployment increased, theft also increased. When unemployment decreased, thefts also decreased. There was. however, evidence of a lag between the onset of unemployment and the increase in crime. Violations of the motor vehicle laws have, on the other hand, decreased with unem- ployment, with Qne exception-the depression year of 1930. Arrests for violations of the liquor laws have decreased very materially in the present depression, Dr. Jones report- ed, while juvenlc delinquency has actually' decreased.

Mr. Winston Churchill, the bril-

liant but erratic son of a brilliant but erratic father, probably had suf- ficient time during his recent very serious illness to wonder what the modern lconoclastlc biographers would say about him when he is gone, and to anticipate them has colnpiled a book of his outstandng mistakes. 'I‘his is rather tak'ng the wind from their sails, and they will have no other course left but to stres h's achievements, which were

»n“‘,¢.£1 ‘

,method of creating more cell tissue

Qnurs

Baton. HD

And

the Empire will be lorced t0 My THREE TYPES OF GOITBE

in foreign trade. Our own GXDONS It is but natural, should any The

member of your family 113V° im °“'

part-ment of Commerce estimatedglargement of the thy1'°id Klum- W”

goitre as it is called, that ¥°\l" would be somewhat anxious about

, Those

applied against American goods val- it. _ 1 th 0,.. lied in 193! HU $31-°°0~0°°~ In Cm” . F°"L“"ate1y the majority ° ° And then, if still imwise, we mope.

cases of enlarged thyroid 815110 U0

port, from the United States val- _of the simple tyl>¢ Ind li\°“1¢`i~ Th.

cause no alarm.

Investigators tell us that them

are three types. and it was noted

gh 1 ur entire export t,-me 135; that ln regions where goitre is com- ugh

n the average weight of the

yiiar. with our two best customers 111° . 'Ib

thyroid gland was more than three times as much as in resions where the disease was rare.

The first type or group include!

those with just simple enlarsement of the thyroid gland. The structure

____ 01' the gland is Perfectly normal in I

1| there was ever, says an ex- every way; simply an increase in , change, an example 01 B- mlm Clit' the Size 0-f the Bland- *md ”““”'“1“ that honorable and muscle-deve- ting on ms nm to spite his face it ly it is able to do more work. I hp

The second group showed a no-

. lm! . 1

wang; 311 whemt farmers to sow no dular - lump like - enlargement 8 school, we” then, for 5 (ew seed next year. Ii’ they had reduc- which appears to develop from the wee

, ks

ed meh- wheat acreage three yearsinormal cells present in the thy- meme' and wealthy .rupp;.,.' my

roid gland.

mixed inning their mndmon wguid In the third group, in addition to to

be better t°day_ The Wm-ld Wm get an increase in the normal cells or

its when whatever they may do, the thyroid gland, there are distinct mme' but than was one ,mm me

md they .Wm have nothing to gum changes in the tissue. This third wma d°’_ahe could md did mach

and much to lose. It is inconceivable' group is what is called exopthalmic us

goltre which is the serious type of goitre In this type we find the

be given to the DYOIJOSBI- ` school taught by a man, and 'grad-

bulging eyes, the rapid heart beat. extreme nervousness, and loss cf weight.

The iii-st group-simple enlarge-

ment of the gland-is N'ature‘s

to supply the demands for iodine in the body. It is not considered a. disease at all. `

The second group, with the lumps

in addition to an increase in cell tissue, may never give any trouble.

It is the third group, and this

third group may develop from eith- er ofthe other two groups that calls for medical, surgical, or X my treatment. '

so if there is any sign of an en-

larged thyroid gland ,consult your family doctor, and he, by various tests will be able to tell you the group to which it belongs. Even in the serious type, rest, simply lying down a number of hours daily in addition to the usual night's rest has cured many cases.

A Micmac Missionary

(Exchange)

Compiling a record of place

names in Nova Scotia, the Journal of Education found if; necessary many times to refer to Dr. Silas R.and's "Micmac Place Names" for authentlc infomation.

Dr. Rand lived and worked

among the Indians for more than 40 years learning their languages and their legends, translating from Micmac to English andr that the Indians themselves might benefit from English to Micmac. He tum- cd almost the entire Bible into Mic- mac, prepared dictionaries of the principal Indian dialects, and sav- ed froni oblivion the rich material of Indian folk-lore and legend.

He was s linguist of unusual

ability and, at one time, could speak and write a dozen different languages. He knew Latin, Greek and Hebrew in addition to many modern languages, but his favorite language was Micmac. Dr. Rand ,died in Hantsport, Nova Scotia, in

he was bam at Cornwallis, six miles from Kentvlile, N. S., on May 18, iiill0. His road to education was a tough one, and his early life is best described in the introduction of his “Legends of the Micmacs."

"I was educated in the greatest

university of all time, ancient or modem,-a building as large 9,5 gli ,o1.tdoors, that had the broad cano- py of heaven for a roof. My father taught me to read-and he taught mo more thoroughly to work on the farm-when I was a small boy. My father and my grandfather before me had been bricklayers; and when

Tm-mi,

, nanvesr

all suppose, when youth is Ours ,every branch is thrpnged with flowers, '

That, as the fruit begins to drop,

world will wondeii at our crop.

it the frost, the drought, the soil? ` baskets hold s meagre spoil

at the best, but half our hope;

wise man, having housed his fruit.

Turns in, unfolds a thicker suit: 1

ts the nrst nre-and gives a toast

those who'll work when he’s a

ghost. `

I -Oliiford Bax.

was 18 years of agmicommenced seven years' apprenticeship to

ing profession. When I was a ll boy I went to school, such

to Sarah Beckwith Sarah

pectlvely. None of them amounted

much as teachers, and Wealthy

Tapper could 'not write her own

the way to heaven. During the

evenings of three winters I went t0

usted' when 11 years of age. Seven years later I determined to study and master the science of arithme- tic. This I did with the aid of a book. '

“I gook my first lesson in English grammar when 23 years of use from an old stagernamedl-Bennett. I paid him $3 for the lesson, and after learning it, started and taught a couple ‘ of classes of my own at $2 pea' pupil. Next, I studied Latin grammar four weeks at Hor- ton Academy. Then in the 51111118 of1s3s.rret\u-ue¢ltotl1ew°=rk<>¢° stonemsson and the study °f LB' tin. There was then no ‘ten-hour. sntem' in existence. lt was manual labor from sunrise to sundown. But. Ii,ookalessoninI.atinbefore8'0' ing to work, studied it while at work, took another lesson at dinner and another at night. In 1834 I was ordained sr Baptist minister, by Fa- ther Manning, and took charge of the church at Parrsboro. where I preached and continued the study of Iatin, aa well as of Greek and Hebrew. In 1836 I went back to Horton Academy for 0. few months; and from that time the study of languages became a passion. "Aft/er leaving Parrsboro I was

pastori the Baptist churches at Horton, Liverpool, Windsor and Charlottetown, respectively, until 1846, when I dedicated my life to missionary work among the semi- ssvage Indians of Nova "cotta--I resigned the pastorate of my church,-that comparatively easy way of earning a livelihood-gave up all comforts, conveniences, prospects and social happiness of s past/or, and devoted a large por- tion of my life go asociation with savages, having such comforts as were to be derived from association with them, and spending portions of a lifetime in wlgwams and in the woods."

Max Factor’s.

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Created by Max Factor,

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Max Factor preparations

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Some of our lines include

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149 Great George St.

Attention. \

‘Y

51°-'J

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at | 3 .fs 1 0 ' : . atv cdzigov/u__4._, . , , [_ /SS

, , 1 f'%@i..‘:Il °,

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No one can make on

ass of a man unless I the ass helps.

lege' if-'il/~

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sol. van

- . THE GUARDIAN °

First delivery will be made Deceniber 1',

1 I

.~/‘ 24th together with your Greeting Card. "-

PHONE132

/ -~ -' M,

%€ m , .-13 .3

A Pure Tea

Brahmin Orange Pekoe

sofa only in ins Airdsht houses. `

1 1 `

Another shipment just received I of the new ` .SQUARE GREEN ALARM CLOCKS

| at $1.49

Made by Westciox and fully guaranteed

i G. H. TAYLOR

J eweller and Engraver

i'ss"5'2.12-3-si A

THE 2 MAGS 3

Mail Orders Given Prompt -

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wtf- ‘

@"' s§"“~

'r Pisa.-< Ji/&\ it

_ Your Ghristmas Problem is \

4 ge. ¥§\ ~\“`~`&

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IN THESE HARD TIMES-a loss by » In would be disastrous,, unless you are reasonably protected by Fire Insurance.

| If your home is not protected, write or call

on this Office, or our nearest representative. ,

HYNDMMI & 00., LTD.

`i The Oldest Insurance Agency in P. E. I. `

Lower Queen Street - Charlottetown

Representatives in Queen’s County :

W. A. M. McRae, C. E. McKenzie Pownal Milton

1 W. D. Ross, Kinross

31889. 7

Eighth of a family of 22 children . " ‘ _` __ "' " ' ' " ' Q

3.'

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F The Charlottetown Guardian