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EVENING tUBEfo LEDGER-PHIIADteli'PHIA; WEDNESDAY, TANUABY 7, 1920
Vi
PAISH SEEKS USE
P" 4v -
OF TEN BILLIONS
'British Economist Tolls Bankers
League of Nation Bonds Would
Save All Europe
CREDIT IS BREAKING
Europ? docs not need $10,000,000,
000 In cash from America, but wants to
be in a position to buy American prod
ucts to that amount, if such great pur
chases arc needed during tbo period of
reconstruction, following the war.
It was in this way that Sir George
Palsh, British economist, explained to
day his reference to the need by Lurope.
wade in his address at the banquet of
tha Pennsylvania Bankers' Association
last night at tho Belleviia-Stratford.
His views, as outlined today, agreed
in a meaure with those of Herbert
Hoover, who spoke in disapproval of
"hysteria" over loans to Europe and
raid 'hut America would do its share
by helping starving cities and giving
business credits,
"As matters stand today," said Sir
George, "it looks as though tho greater
part of what Europe will need for some
tlmo must come from the United States.
It is necessary to find some way for
Europe to go on buying food, raw ma
terials and manufactured products from
America without interruption.
"Existing credits are growing weaker
nnder the; strain put upon them. They
must be strengthened.
"One way to do this is to issue league
of nation bonds to the amount of about
$10,000,000,000. These bonds could be
taken by bankers, not only in America
but elsewhere, whenever the use of the
bonds is made necessary.
Must Buy Hero
"Arrangements for these bonds, sup
ported by the credit of all nations in
if the league, could be made by the finance
committee of the league of nations.
America would assume only its share
of this responsibility, although most of
the 510,000.000,000 issue of bonds
would probably come to this country
because the nations must buy here.
"If America has bad crops next ear
and some of the other nations have good
crops there would be a shifting in the
source of food supplies, but as it looks
jtoday tho nations of Europe must con
. tinue for a considerable time to make
great purchases of food, raw materials
and manufactured products here.
"The proposed financing is for re
construction, but in its broadest us
pict. It is for the re-establishing and
restoring of Europe.
"Thi does not mean the immediate
lending bv America of SI 0.000,000.000
It means that when it is necessary to
keep trado llowiug freely America will
sell Its products, takiug tho league ut
nations' bonds us cash until Europe is
in a position to bupply cash in place
of the bonds.
"All members of the league of na
tions would nupport the bonds and ac
cept themt as far as possible.
Would Accept Bonds
"Of course, it would take some time
to arrange for these league of nation
bonds. But assuming that the princi
ple is agreed to temporary securities
could be issued to meet immediate
needs.
"Bankers would accept these securi
ties readily if they knew that a short
credit would be converted Into a longer
credit.
"We need something to support ex
changes, which nro fulling from day to
d"'- . . ,. ,
"I have received no assurance that
the idea of issuing league of nation
bonds will receive the support of Amer
ican bankers, but I am convinced that
American financiers and bankers will
do all in their power to give the help
that Europe needs.
"It is beyond tho power of the Amer
ican bankers, however, to supply all the
help that will be needed. The assistance
of the American investor must bo ob
tained. "In disposing of the league of na
tions bonds, an organization would be
needed In this country similar to that
which was formed to place the boud is
sues during the war.
"The world's trade will go on for a
time, for the bankers are supplying the
credit needed from day to day, but this
condition cannot continue. Credit is
ucarlv reaching its limit.
"Wo must find a way to avoid u
smash."
ROOSEVELT IN LEGISLATURE
Theodore, Jr., Begins Political Ca
reer In N. Y. Assembly
Albany. N. Y., Jan. ".(By A. IM
Theodore Roosevelt, Jr., began his
political career in the Assembly when
the Legislature convened today. His
father entered public office us un ns
scmb'yman thirty-eight years ago.
The Assembly has one woman Ile
pub'ican, one woman Democrat and has
five Socialists. Both Assembly and Sen
ate have large Ronub'iean majorities
HOOVER OPPOSES
BIG LOANS BY U
1
Takes Emphatic Exception to
Opinions as to Huge Needs
of Europe
ORDINARY CREDITS AMPLE
New 'York, Jan. 7. Herbert C.
Hoover, on his way East in connection
with relief work in Europe, tele
graphed to his headquarters in this
city a statement in which he took em
phatic exception to opinions of "Euro
pean propagandists, both oonceruiug
the volume of Europe's flnuticlal needs
from the United States and the con
tention that the great bulk of those
litoils cannot be met by ordinary com
tnercinl credits.
Assorting thut, "with our taxes 000
per cent, over previous rates," there
is no need for drawing on th United
States treasury for further loans, Mr.
Hoover says "aside from some secon
dary measures by our government, the
problem is one of ratification of peace
and ordluar.v business processes." He
addH that "by secondary measures I
mean that some dozen cities in central
and southern Europe need breadstuffs
on credit from the grain corporation
to prevent actual starvation, ami that
the Allies are asking for temporary
delay iu paying interest on our govern
ment loans tn them."
Outside of temporarily deferring in
terest, Mr. Hoover continues, Ameri
ca's tusk is reduced to helping out tho
bread Mipplj of less thuu o per cent
Tf SV"" ' Twm SMALLEST SHOE
iti EASE ud COMFORT hH. oiln.
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and when you want it.
BEST COAL
Esr Coal $11.50Nut Coal $11.95
Stove Coal 11. 85 Pea Coal 9.55
Buy your coal now, don't
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Owen Letter's Sons
Largest Coal Yard in i'ftlladrlpMo
Trenton Ave. & Westmoreland
Krjstane, East 233,
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of tho population of Europe, that no
vich situation exists as that which
confronted America last year at this
lino and that there is no ground for
hysteria on cither side of tho Atlan
tic. Speaking of Europe as n whole and
asserting that "the 70.000,000 peoplo of
nrosperous nations who have not nut
fercd In the war should also old In
European relief." Mr. Hoover adds that
"If we contribute bread supply on gov
ernment credit to those starving cities,
plus business credits, we will be doing
our share of the world responsibility.''
Taking up the countries of Europe
individually, Mr. Hoovr fays that "the
neutral countries have, made money from
the war and have asked no favors and
have given none." Outside of Interest
to the Allies. (.rent Britain admits she
needs nothing but commercial credits,
adds Mr. Hoover, who says she has
amnle unpledged foreign assets to cover
her nrcK as has France.
Mr. Hoover concedes the position of
Italy is difficult, uud that some of her
larger cities may need breadstuff as
sisfiincc beyond the ability of commer
cial credits. Germany, he says, could
obtniu commercial credits if the repara
tion commission would allow her to use
her domestic resources.
After asserting that the East Baltic
states have enough food, except milk
for their children, Mr. Hoover says Bui.
carlu. Greater Serbia, Uumania. South
Itussia and Turkey, except Armenia,
have a surplus of food this year, while
Hungary cou'd feed herself if Rumania
would return cattle and grain. abstracted
last summer.
"We arc, therefore, left with Kin
land, Belgium. Poland. Czerho-Slovakia
and Austria to consider," says Mr.
Hoover. "Austria is the sorest point
in Europe.
"In the food matter, the five last
countries mentioned will take care of
their agricultural and small-town popu
lations out of their crops of last year,
leaving the crowded centers to be pro
vided for. Tbcso dozen or so large
cities, including Italy's deficiency, af
fect populations aggregating, say, 15,
000,000 or L'0,000,000 people."
FIGHT ON SUFFRAGE IN MD.
Legislature Faces Issue of Ratifica
tion aa Biennial Session Opens
Annapolis, Mil., Jau. 7. (By A. P.)
The federal woman suftrngo amend
ment, concurrent prohibition enforce
ment and rnce track betting arc among
the measures that will come before the
Legislature which opened its bicnnla"
session today,
Tho organizations favoring equal suf-
Rheumatism ?
Remember that
BAUME
analge'sique
BENGUE
will bring quick
relief. Directions
with every tube
TU.i. LMmlni A C N. T.
Wrist Watches For Men
The War has greatly in
creased the popularity of
men's wrist watches. Today
they are almost a necessity. .
We recommend a silver
Waltham Watch, radium nu
merals and hands, non-breakable
crystal $35.
S. Kind & Sons, mo chestnut st.
DIAMOND MERCHANTS JEWELERS SILVERSMITHS
(fill
frage have united to secure ratification
of the amendment at this session. The
party platform of tho Democrats, who
control both houses, declared against
the amendment nnd opposition to it
also Is voiced by the Maryland Associ
ation Opposing Woman- Suffrage.
Leaders in tho prohibltiou movement
express confidence that tho enforce
ment codo prepared by the Anti-Saloon
League will pass. It is utmost identi
cal with tho Volstead act.
Farmers to Have Candidate
Detroit, Jan. 7. Three farmers' or
ganizations, through their representa
tives meeting hero yesterday, joined
forces to support a practical farmsr i 1
the gubernatorial nomination thlj , I
The eandldncv irm n(r...i ....'"'"I
the National Association of K '
ducers, who, it Is understood', iV !?'
their candidate In the Itcnublfan mE?
Founded in 1865
The Bouse f
C. J. Heppe & Son Downtown 1117-1119 Chestnut Street Uptown Cth and Thompson Street
1
Mason & Hnmlln, Weber, Heppe PJnnos Aeolian PInycr-Pinnos, Pianolas, Duo-Art Pianolas Victrolas
Buy a
Heppe Piano NOW
Start the year off with music. Invest
in a new piano and have music and happi
ness throughout the entire year. NOW is
the time to buy your new piano and
Heppe's is the place to buy it.
Heppe Pianos have unusual tone quality
m 1 1 1 1 vmawm 1 1 1 1 1 wAsvyffls m
mwMmmmmttw j m
sW t-'T' .lyvPtHXI CTJK.MK. W-tgrwM 1 MrlBf '''"" I g
Nctturefs finest dessert- - Iflfl
iiyss' x 5
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r r f r r p jj- A C P
r r r r' r rfTT ' -32-1 m
Si "
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purer , riener9
resner in riavor
Behind this perfect, modern ice cream establishment are both the
equipment and the facilities that assure you every day in the year the best ice
cream that you can possibly have in your home. For behind this plant are the
wide resources of the Supplee-Wills-Jones Milk Co. a supply of pure, rich,
wholesome cream that is dependable and unfailing every day in the year.
Needless to say that you can depend
upon Supplee Ice Cream. You can depend
on its quality, on its wholesomeness, on its
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there every day because of the uniform,
standard, sanitary methods of preparation.
You have real goodness, real healthfulness,
real wholesomeness and safety in this best
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Just as the Supplee-Wills-Jones organi
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to give you the ultimate in ice cream. Its
whole facilities, its whole vast system that
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And it is so very reasonable in price.
Compare its cost with a pudding or a pie,
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Yes, this perfect ice cream-making es
tablishment is ready to serve you through
one of its hundreds upon hundreds of deal
ers with this perfect product every day in
the year a product that has behind it a
long-established prestige for quality and
character.
-2
'I I rvnir z i
QUICK-SERVICE DELIVERY
fcj Jf
MilTijirji rriwni.n. i.i ,wAfr -
V '', ' -"'
"There's a Dealer 'just around the corner." If you
want to know the dealer nearest you, call Baring 140.
"Has a better flavor "
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r v ', s ' y -j. .. j- -. r an
H Si i d1 8 llll J fcJJl I 4 S ' tr
Jjl IS ONE OF THE SHOPS J j
Li? RIGHT AROUND THE CORNER" )"' IW
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Iv 'yKMMKKX:iHlv - K e
0mL fim: Wfnr & Mm I P
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I ICE CREAM F
(dm.-'SSksSSi m t.
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i
The Heppe Piano i the greatest dollar-for-dollnr
value in Philadelphia. In tone
quality, Heppe Pianos are unsurpassed
because they have three sounding-boards.
In design they are rich and artistic. As
for durability, the Heppe name guarantees
you entire satisfaction.
If it is not convenient for you to pay
the entire amount at the time of purchase,
you may make settlement through our
Rental-Payment Plan, which applies all
rent toward the purchase price.
Price, $395 and upwards
Call, phone or write for catalogues.
Downtown
1117-1119 Chestnut Street
C. J. HEPPE & SON
Founded In ISw
One PtIco fivstem adopted In 1SS1
Uptown
6th and Thompson Streets
ICharge Accounts
niiiniiiiii
lillillliinnill
Orders Accepted!!!
1115 CMESTMPT ST.
iiiiiiiiiii
(OPPOSITE KEITH'S)
Farmers and Trappers Are Invited to Bring Us Their
Raw Skins. We Pay Cash for Them!
We'll Reserve Your Purchase on Payment of a Small Deposit
( "RBB 77) C .Qhnme R Ivwi IU
i-iunarpns nr hiyip
Australian Seal Cats T Be
Cleared at Less Tlai
Cost, Tomorrow
The Annual January Sale of Furs brings hundreds of
hxtraorclinary Values to the front for absolute disposal and at
prices that show the most remarkable of savings. This is well
Ulustrated m the example of this Great Australian Seal Coat
ouper-bale.
These lovely coats have large shawl collars and cuffs of
beaver, skunk, natural squirrel, Australian opossum and nutria,
while others are plain trimmed. Lengths are 30, 36 and 40
inches.
Reduced from $135.00 to $295.00
mi
' ifc
mm.
JSaf
w-fijf;i
V V I
f
A I
AuHlrulian
Seal
Coul
Natural
Souirrrl
Collar
and
fyj CltffS
K $175.00
89 ?HO00 $14500
CM
Rich Fur Coats
moM
Marmot Coals
Spuria inoacl ; self bonier
Krdurril frum 155.0(1
Natural Muslerat Coals 81 f .00
Sports model; lino dark sklnn. -LrttJ
lleilurci from f I85.UU
Hudson Seal Coats
30-inch model : lluo lustrous
UK1JI8.
ICcilucrd from fi'iS.W
165
M
'175
,00
Trimmed Natural ,?
Muskrat Coals
.Au..lnilimi Sejil collar, cuffs ttml ljordtr.
Itrilurnl from ysso.uo
Natural Squirrel Coals SQjJTMO
.SKrts model; lino dark fKlna. irkij
Kriluted from J35,00
275
,00
Trimmed Hudson Seal $
Coats
30.ln.-h model; Beaer, Bkunk. Natural Squlr
li'l collar and cuffn. ' "r
llrdured from fS78,0O
Taupe Nutria Coats $0 rr pr, qq
36-lncli model, finest quality & 4 O'
sklnR.
IlrdueeU from 5373.00
To Close Out-
Mole Coats and Wraps
Some Trimmed With Contrasting- Furs
Smart IlO-inch Mwlcls i?9K )
lleriuccd from $395.00 &4VO.UU
W-incli Loose Model C9T3 flf)
Itcduccd from $150.00 pOOU.VU
3fi.iiirli Model, Natural Squirrel ilK ()l)
Collar and Cuffs po(O.VV
ucduerd from $m.00
To Close Our-
Elaborate Fur Wraps
Many Copies of Imported Models
1
Trimmed Hudson Seal K if)
deduced from $650.00 Q4J0.VU
" KoifikT.1: .T.r.i,.'!m.!d .r.1!!' $025.00
Kcduced from $775.00
Eastern Mink
Reduced from $1350.00
$975.00
Wq Accept Liberty Bonds, and 'Purchasing Aunts' OVdogs
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