Atlanta tri-weekly journal. (Atlanta, GA.) 1920-19??, June 29, 1920, Page 6, Image 6

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C SMMrI IV 1 j | COTTON NEW YORK, June 26. —There iyere rallies in the cotton market today which brokers attributed largely to covering for over the week-end after recent more or general selling. * October contracts sold up to 33.31, or 15 points above the closing price of yesterday and 43 points above the low level of yesterday afternoon. / That delivery closed at 33.03 with thte general list ofj closing net un cluißged to 17 points higher. July was relatively firm on covering and buving by trade interests. The market opened steady at a de cline of 6 to 17 points owing to favor ■ able weather reports and continued unfavorable trade advices. The lat ter included Manchester cables re porting that stagnation of t'.ade was even more pronounced during the past week, with more buyers wanting lb cancel orders and with manufac turers’ engagements running down rather rapidly. The small business renort in domestic goods markets also was a factor, but the firmer - technical position of the market as serted itself, and after showing de clines of about 10 to 20 points the market turned steadier. July was relatively firm. a. face which had a sympathetic influence on the later months, but there was still A good deal of bearish talk around the ring and the rally to 32.0-. for December, or about 20 points above last night's closing quotation, met scattered offerings. The advance m July was well maintained, but latei months showed closing reactions of some 10 to 17 points. A Or leans authority places the condition of the crop at 70, compared with 66.5 last year, the figure being nearly enough in line with reports published earlier in the week to create no fresh sentiment. The amount of cot ton on shipboard awaiting clearance was 112,676 bales against 194,10- last year. NEW YORK COTTON The following were the ruling prices ts Ihf exchn<z? today* . Tone, steady; middling. 38.25 c, quiet. Last Pre’ Open. High. low Sale Close Ci.-s* Jan. .. 31 12 31.42 31.12 31.28 31.25 31.22 Meh . 30.62 30.05 30.62 30.80 30.80 30.75 May .. 30 =5 July .. 35.88 36.21 35.85 36.21 36.20 36.Q3 Oct. .. 32.90 33.13 32.85 33.05 33.03 32.98 Dec. .. 31.70 32.02 31-68 31.90 31.85 31.82 NEW ORLEANS COTTON NEW ORLEANS, June 26.—The cotton market today was during the greater part of the session a regulation week-end af fair with traders more inclined to even np than to take on new business. There was much covering of the short interest, especially in July and at one time this demand was good enough to put prices 11 .to 45 points over the close of yesterday. July was sustained at al Itimes hy the outcome of the first notices of yesterday and at no stage of the trading was lower than the close of yesterday. At its lowest it was still fifteen points ever yesterday’s final price. Around the opening* and around the close the new crop months were moderately depressed by good weather and at their lowest they were 9 to 15 points down net. The market closed •1 points higher to 15 points lower than the cfcse of yesterday, July showing the gain and January the widest loss. The weather map was considered very favorable, being warm and dry in all sec tions of the belt, while the forecast called for little change. The forecast caused more selling than did the weather map and the heaviest selling forced January down to 31.04. * The receipt here of the first bale of the new crop, a week earlier than last year s first bale, attracted some little comment. It came from Edinburg, Texas, and was sold at auction at the cotton exchange, bringing a thousand dollars. NEW ORLEANS COTTON The following were the ruling pri e» In th» ixcliange today: Tone, steady; middling, 39.75 c, steady. ' Last tie* Open. High. Low Sale. Close Close. N Jan. .. 31.18 31.30 31.04 31.04 31.04 31.19 Meh. . 30.64 30.78 30.50 30.50 30.50 30.64 May 29.90 ..... July .. 36.00 36.30 36.00 36.06 36.06 35.85 Oct. .. 32.70 32.91 32.66 32.73 32.71 32.72 Dec. .. 31.68 31.87 31.57 31.65 31.63 31.67 NEW ORLEANS SPOT COTTON NEW ORLEANS, June 26.—Spot cotton, quiet; sales on the spot, 175; to arrive, 331. Low middling. 30.25 c; middling, 39.75 c; good middling, 43.75 c. ATLANTA SPOT COTTON Atlanta spot cotton 42.20 c Receipts Shipments ‘*9-; Stocks ~.16,382 COTTONSEED OIL NEW YORK, June 26.—1 n sympathy with a sharp advance in lard products, the cottonseed oil market was firmer today on covering and closed 11 to 23 points net higher. Sales. 4,000 barrels. Prime crude, $13.50 bid; prime summer yellow, sjot, *15.00; July. 815.30; September, $16.43; December, $16.35, all bid. Prime winter yellow, summer white, nominal. Open. Close. Spots 15.00 bid January 16.21@16.50 16.40@16.60 June 14.75@15.30 15.00 bid July 15.10@15.35 15.30@15.45 •August 15.70@16.00 15.85@16.00 September .. .. 16.35@16.38 16.43@16.49 October . • •• .. 16.30@16.35 16.40@16.u0 November .. .. 16.00@16.30 16.35@16.50 December 16.20@16.50 16.85@16.50 Tone, strong; sales 4,000. AMERICAN! COTTON AND GRAIN EXCHANGE COTTON QUOTATIONS \ . The following were the opening, highest. lowest, close and previous close quota tlons on the American Cotton and Graia txebange of New York: Prev. Open. High. Low. Close. Close. Jan 31.30 31.42 31.12 31.25 Mar 30.60 30.85 30.60 30.8 K July .... 35.80 36.25 35.80 36.19 Oct 32.90 33.10 32.90 33.02 Dec 31.73 31.93 31.90 31.86 ATLANTA COTTONSEED PRODUCTS MARKETS (Corrected by Atlanta Commercial Exchange.) Crude oil, basis prime, tank lots $13.25 C. S. meal, 7 per cent ammonia, 100- ton lets 64.50 O. S. meal, Ga. common rate point, 100-ton lots 62.50 Cottonseed hulls, sacked, carlots Cottonseed hulls, loose, carlots 17.50 No. 1 linters, 9; No 2 linters, 4; No. 3 Mnters, 2. Money and Exchange NEW YORK, June 26.—Mercantile paper. 7%c; exchange, easy; sterling 60-day bills. 392: commercial 60-day bills on banks, 392; commercial 60-day bills, 391%; -demand. 396%; cables, 397%. Francs, demand, 8.24; cables, 8.26. Belgian francs, demand. 8.67: cables, 8.69. Guilders, demand. 35.65; ca bles, 35.67. Lire, demand. 6.17; cables, 6.17. Marks, demand, 269; cables. 270. New York exchange on Montreal, 12% per cent discount. Government bonds, easy; railroad bonds, irregular. Bar silver, domestic, 99%; foreign, 90. Mexican dollars, 68%. THE ATLANTA TRI-WEEKLY JOURNAL. GRAIN CHICAGO, June better transportation easbd the corn market today but the effect was more than counter-balanced later by weak ness evening up and by fear of hot wave damage to oats. Corn cl,osed firm, 1 to 2 3-4 not higher. In provisions the outcome ranged from 7 cents decline to 20 cents ad vance. At first the bulls in corn were at an evident disadvantage owing to an nouncement by the railway labor board that a retroactive wage award would be given out on or before July 20. Thi > announcement was general ly taken to mean improved efficiency in traffic operations. The declines ■ which resulted, however, opened the way for shorts to eliminate risk on contracts open over Sunday. Mean while, forecast of a hot wave led to increased anxiety regarding the oats crop, which is now at a critical stage. Bulges in the oats market ensued, and a good deal of the late strength of corn was plainly due to the action of oats. Provisions averaged higher with grain and hogs. , CHICAGO QUOTATIONS The following were the ruling prices is the exchange today: Prev. Open. High. Low. Close. Close. CORN— July .... 1.74% 1.76% 1.74 1.76% 1.74% Sept 1.67% 1.70 1.66% 1.69% 1.67% OATS— July .... 1.93% 1.94% 1.03% 1.04% 1.03 Sept 84% 87 84% 86% 84% PORK— July .... 33.50 33.82 33.50 33.77 33.55 Sept 35.60 35.77 35.20 35.77 35.85 LARD— July .... 20.25 20.42 20.25 20.42 20.25 Sept 21.30 21.50 21.30 21.47 21.27. -RIBS— July .... 17.90 18.00 17.90 18.00 17.90 Sept 19.10 19.12 19.02 19.12 19.00 CHICAGO CASIf~QUOTATIONS CHICAGO, June 26.—Cash: Wheat, No. 1 red, $2.82; No. 3 hard. $2.73. Corn, No. 2 mixed, $1.78@%; No. 2 yel low, $1.79@%. Oats, No. 2 white, $1.15%@17; No. 3 white, $1.12%@13%. Rye, No. 2, $2.20. Barley. $1.41@1.48. Timothy seed. slo.oo@ 12.00. Clover seed, $25.00@ 35.00. Pork, nominal; lard, $20.22. Ribs, $17.00@18.12. __ ST. LOUIS QUOTATIONS ST. LOUIS, June 26.—Poultry: Spring ducks. 33c; others unchanged. Butter and eggs, unchanged. Cash: Wheat—No. 3 red winter. $2.76. Corn—No. 2 white, $1.89; July, $1.76%; September, $1.71%@1.71%. Oats—No. 3 white, $1.20; July, $1.04%; September, 87%c. RECEIPTS IN CHICAGO Today. Wheat _ 75 cars Corn ." 176 cars Oats • 73 cars Hogs 6,000 head GRAIN MARKET "OPINIONS Bartlett, Frazier & Co.: Continued good receipts might keep the market easy for a time. Clement Curtis: Go slow on selling and take advantage of a rally. Wagner & Co.: We expect some sharp swings in the grains. Harris, Winthrop & Co.: Advise sales on all bulges brought about by short covering. Press & Co.: The key to the market will continue to be the receipts. NEW YORK PRODUCE MARKET NEW YORK, June 26.—Flour unsettled and weak. Pork—Dull; mess, $39.50@40.50. Lard —Quiet; middle west spot, s2(h3s@ 20.45. Sugar—Raw, quiet; centrifugal, 96-test, 18.56; refined quiet; granulated,. 22.00@ 24.00. Coffee—Rio No. 7, on spot, 14c; No. 4 Santos, 22%@23%c. Tallow —Steady; specials, 10%c; city. 9%c. Hay—Steady; No. 1, $2.65; No. 3, $2.25@ 2.40; clover, $2.00@2.55. Dressed Poultry—Quiet; turkeys, 50@56c; chickens, 38@43c; fowls, 23@44c; ducks. 28@35c. Live Poultry—Quiet; geese, 18@20c; ducks, 25c; fowls. 35@37c; turkeys, 35c; roosters, 25c; broilers, 50@68c. Cheese—Firm; state milk, common to spe cials. 19@28c; skims, common to specials, s@l9c. ' Butter—Firm; creamery, extra, 58%c; 1 do. special market, 59@59%c; state dairy, tubs; imitation creamery, firsts, 42@58c, nominal. CHICAGO PRODUCE MARKET CHICAGO, June 26.—Butter: Creamery extras, 56c; creamery standards, 55%c; firsts, 49@54%c; seconds, 43@48c. Eggs—Ordinaries, 34@3Ge; firsts, 38%@ 39%c. Cheese—Twins, 24 %c; Young Americas, 25 %c. Live Poultry—Fowls, 31c; ducks, 30c; geese, 20c; springs, 40c; turkeys, 35c. Potatoes—Sixty cars; Wisconsin and Min nesota (per 100 lbs.), $G.00@7.00. Liberty Bond Market NEW YORK, June 26.—Final prices on Liberty bonds today were: 3%’s $ 91.50 First 4’s 85.50 Second 4’s 85.10 First 4%’s '. 86.10 Second 4%’s 85.26 Third 4%’s 88.80 Fourth 4%’s 85.52 Victory 3%’s 95.58 Victory 4%’s 95.64 DRY GOODS - MARKET NEW YORK. June 26.—Cotton goods were very quiet, with prices on gray cloth softening. Yarns were easier. Burlaps were inactive and a little lower. Raw silk declined at Yotoliama twenty cents a pound. Wood goods market was dull. g eobgiTregulars - TO OFFER DIVISION OF VOTES OF STATE (Continued from Page 1) lutions, W. T. Anderson; rules, Og den Persons; notification of the presi dential nominee, Colonel H. H. Dean: notification of the vice presidential nominee, Jake R. Tweedy; honorary vice chairman of the convention, Hol lins N. Randolph; honorary secretary of the convention, Lee Langley. Both sets of delegates from Geor gia spent a very busy and pleasant Sunday. Messrs. Arthur Lucas ahd Albert Foster were the guests of a prominent moving picture magnate, who motored them out to his coun try home. They returned quite late. Thomas W. Hardwick and a party went to the Cliff House for dinner. Pleasant A. Stovall, chairman of the Palmer delegation, was in and around the St. Frances lobby most of the day. Clark Howell was re ceiving with appropriate modesty the congratulations of his friends upon l the action of the national committee ! in precipitating his adversaries into I the street. | Numerous sightseeing trips were I taken through the city and into the » wonderful country across the bay. M’ADOO BOOM GETS FRESH IMPETUS AS CONVENTION MEETS (Continued from Page One.) when the differences of the wets and drys could be threshed out. Westerners Show Flglit It seemed a foregone conclusion that the question would be settled only after a stubborn fight on the floor, bringing into play the best oratorical and strategical fireworks of a typical Democratic convehtion. The League of Nations and the Irish question also threatened to get out of control of the resolutions com mittee and shower the convention flooi- with pyrotechnics. There were many of hope, however, that both might be threshed out to a satisfactory conclusion behind the committee doors. In the organization of the resolu tions committee itself a fight was brewing, though it was not apparent ho\v serious it had become. Sena tor’ Glass, of Virginia, chosen by the administration as its candidate for committee chairman, was de clared by his friends to be certain of election, though a movement against him had been started by western delegates. The candidate of the anti-Glass element was Senator Walsh, of Mon tana, who supported the peace treaty with the Republican reservations. Those favoring him declared their fight was not an anti-administration movement, and was based primarily on the belief that the northwest had not been accorded proper recognition in the convention. No one from that section, they declared, was on the slate of convention officials or was prominently mentioned for either the presidency or the vice presidency. Election of the resolutions commit tee chairman was expected late in the day, and at the same time the newly-formed credentials committee was to take up the Georgia and Mis souri contests while the rules com mittee was determining on a list of permanent officers for the conven tion. Senator Robinson, of Arkan sas, had been selected by the admin istration group for the permanent I chairmanship, and his indorsement by the committee seemed assured. Bryan Saying Bittle - Contrary to the expectations of many delegates, Wjlliam Jenpings Bryan was having little to say about the permanent organization of the convention and its committees. Busy with his fight to put a dry plank into the platform, he apparently was in terposing no active opposition to the administration organization program, i though he was credited with lending encouragement to the candidacy of ■Senator Walsh for (he resolutions chairmanship. 'k As in more than one previous na tional convention, Mr. Bryan was looked upon as an unknown quantity which might turn out to be the de ciding factor in almost' any of the political equations now confronting the party leaders. No one professed to know what new and unexpected element he might bring into play at the critical time. J. Bruce Kremer, of Montansf, vice chairman of the national committee, had- been selected to call today’s ses sion to order and to present Chair man Cummings. At the conclusion of the keynote address of Mr. Cum mings, all that remained to complete the day’s program was to approve the elections for the various com mittee members already made by the state delegations. ISSUES AND PLANKS WORRY LEADERS AT FRISCO CONVENTION (Continued from Page 1) else. The McAdoo and. Palmei - men are very friendly, so far as their feeling for President Wilson is con cerned. It is about the only point in common which they have, but enough to keep Brother Bryan and others from throwing the convention into the hands of anti-administration elements. The Wilson forces solidified their ranks when they’ agreed to eliminate Bainbridge Colby as permanent chair man and accepted Senator Joseph Robinson, of Arkansas. The latter, by the way, did not vote for the Lodge reservations but stood by the president throughout the treaty fight. Colby was too new a Democrat to get the important job of permanent chairman, though the Wilson leaders , who suggested it thought it was a good way to catch the eye of such Progressives as may have been dis appointed at the Republican national convention at Chicago. There is, however, a noticeable un dercurrent here to go back to the ‘good, old-fashionea Democracy,” which is analogous to the conspicu ous tendency in Chicago tp return to “good old Republicanism.” This prob ably will yield a liberal platform, but only after a hard fight, because the conservatives are significantly nu merous. Chances for Cox Good Whether it was the war, or reac tion against experiments in ment measures and proposals, there are reactioniaries here as there were in Chicago, and they will make their fight against anything approaching government ownership or similar doctrine of the so called redicals.” The candidates of the “old-fash joned democrats,” are Vice Presi dent Marshall or Champ Clark, with ,a distinct leaning toward Cox, be cause while he has a progressive record in Ohio he might be able to acknowledge mistakes of the- Wilson administration since he was not a part of it. On the other.hand there are plen of Wilson men in the camp of Gov. Cox. He is being urged as a compromise between the old and the new democracy. Behind him are many organization Democrats from Indiana, Illinois, New York and . Palmer delegates are friendly to him as a second choice, if their own man appears to have no chance. In a nut shell, unless the fight on the platform draws the Palmer and McAdoo forces together in a coali tion, the chances of the Ohio gover nor would seem to to be excellent to win the nomination. It is between McAdoo and Cox. The big question is whether the Palmer men will go to the former secretary of the treas ury or the Ohio governor after the first few ballots. 'lf the Palmer men, are embittered in the platform fight, they will throw their strengtii to McAdoo and insure nomination the moment it is apparent that the at torney general cannot win. CUMMINGS ASSAILS REPUBLICAN RECORD IN KEY NOTE ADDRESS (Continued from Page 3) peace made secure by the organized major force of mankind.’ “Acting upon these proposals, both the French and the British govern ments appointed committees to study the problem while the war was still in progress. “On April 2, 1917, the president de livered his famous war message to congress, and thrilled the heart of the country anew by his announced purpose to make the contest ‘a war against war.’ Hieffi above all of our other aims, he placed “ ‘a universal dominion of right by such a concert of free peoples as shall bring peace and safety to all nations and make the world itself at last free.’ “Following this message, the con gress by resolution, passed April 6, 1917, recognized the state of war. "On January 8, 1918, the president went before congress and set forth his famous fourteen points. The four teenth point, iphich is practically identical in language with the pro visions of Article X of the covenant, provided that “ ’a general association of nations must be formed under specific cove nants for the purpose of affording mutual guarantees of political inde pendence anti territorial integrity to great and small states alike.’ “Senator Lodge himself, before the exigencies of politics fotced him to take the other side, said that an attempt to make a separate peace would ‘brand us with everlasting dis honor’ and that ‘the intent of the congress and the intent of the presi dent, was that there could be no peace until we could create a situa tion where no such war as this could recur.’ “Former President Roosevelt, on July 18. 1918. said: “ ‘Unless we stand by all our al lies who have stood by us, we shall have failed in making the liberty of well-behaved civilized peoples secure and we shall have shown that our announcement about making the world safe for democracy was an empty boast.’ “On November 4, 1918, the armis tice was agreed to and it, was con cluded upon the basis of the four teen points sbt forth in the address of President Wilson delivered to con gress on January 8. 1918, and the principles subsequently enunciated by him. At no point, at no time, during no period while ths history was lb the making, was one respon sible American voice raised in pro test. , x , “Thus, before we entered the war. we made the pledge; during the war we restated the pledge; and when the armistice was signed, all of the na tions, ourselves included, renewed the pledge, and it was upon the faith of the promises that Germany laid down her arms. Practically all of thft civilized nations of the earth have now united in a covenant which constitutes the redemption of that pledge. We alone have thus far failed to keep our word. Others may break faith; the senate of the United States may break faith; the Repub lican party may break faith; but neither President Wilson nor the Democratic party will break faitn. The Fundamental Purpose “In this hemisphere, the mere dec laration of our young republic that the attempt of any foreign power to set fcot on American soil would be considered an unfriendly act, has served to preserve the territorial in tegrity and the political independ ence of the nations of Central.and South America. The treaty pledges all of the signatories to make this doctrine effective ecery where. It is the Monroe doctrine of the world. “The purpose of the league is to give notice that if any nation raises its bloody hand and seeks to cross the line into any other country, the forces of civilization will be aroused to suppress the common enemy of peace. Therein lies the security of small nations and the safety of the world. x . x “Every war between nations that has ever been fought began in an at tempt to seize foreign territory or to invade political independen/ce. If, in 1914, Germany Sad known that in the event of hostliities, Great Britain would have entered the war; that France v/ould go in; that Italy would go in; that Japan would go in; and that the United States would go- in—- there would have been no war. / Objections to the Treaty “The opponents of the treaty cry out ‘Shall we send our boys abroad to settle a political quarrel in the Balkans?’ Immediately, the un thinking applaud and the orator re cords a momentary triumph. Have we forgotten that that is precisely what America has done? Have we forgotten that we sent more than two million men to France, spent more than twenty billions of dollars and sacrificed nearly a hundred thou sand lives to settle a Balkan dispute? "There was a controversy between Serbia and Austria. Territorial questions, political rights and boun dary lines were involved. The crown prince of the House of Austria was assassinated. A little flame of war licked up into the powder house of Europe, and in a moment, the conti nent was in flames. It took all the power of civilization to put out the conflagration. How idle to inquire whether we wish to send our boys to ■’fettle political disputes in the Balkans! “It is extraordinary that men should waste our time and vex our patience by suggesting the fear that we may be forced into future-wars while forgetting entirely that Amer ica was forced into this greatest of all wars. No League of Nations ex isted when we entered the war; and it was only when we formed in haste, in the midst of battle, a league of friendship, under unified command, that we were able Sfo win this war. This association of nations, held to gether by a common purpose, fought the war to a victorious conclusion, dictated the terms of the armistice and formulated the terms of peace. If such a result could be achieved by an informal and temporary agree ment, why should not the association i be continued in a more definite and binding form? What plausible rea son can be suggested for wasting the one great asset which has come out of the war? How else shall we provide for international arbitration? How else shall we provide safety from external aggression? How else shall we provide for progressive dis armament? How else shall we check the spread of Bolshevism? How else shall industry be made safe and the basis of reconstruction established? ’ How else shall society be steadied so that the processes of healing may serve their beneficent purpose? Un til the critics of the league offer a better ipethod of preserving the peace of the world, they are not en titled to one moment’s consideration in the forum of the conscience of mankind. * “Not only does the covenant guar antee justice for the future but it holds the one remedy for the evils of the past. As it stands today, war is the one way in which America can express its sympathy for the op pressed world. The League of Na tions removes the conventional shackles of diplomacy. Under the covenant, it is our friendly right to protest against tyranny and to act as counsel for the weak nations now without an effective champion. The Existing League “The Republican platform contains a vague promise to -establish another or a different form of association amongst nations of a tenuous and shadowy character. Our proposed co partners in such a project are un named and unnamable. It is not stated whether it is proposed to in vite the natiqns that have establish ed the present league to dissolve it and to begin anew, or whether the purpose is to establish a new asso ciation of a competitive character, composed <ff the nations that repudi ated the existing league. The de vitalizing character of such an ex pedient requires no comment. Fatu ous futility could be carried no far ther. There is no mental dishonesty more transparent than that which ex presses fealty to a League of Na tions while opposing the only League of Nations that exist or is ever apt to exist Why close our eyes to actual world conditions? A League of Nations already exists. It is not a project, it is a fact. We must eith er enter it or remain out of it. “What nations have actually signed and ratified the treaty? “Brazil, Bolivia, Great Britain, Canada, Australia, South Africa, New Zealand, India, Czecho-Slovakia, Gua temala, Liberia, Panama, Peru, Uru guay, Siam, Greece, Poland, Japan, Italy, France and Belgium. “What neutral states, invited to join the league, have actually done so? “Norway, Venezuela, the Nether lands, Denmark, Colombia, Chile, Ar gentina, Paraguary, Persia, Salvador, Spain, Sweden and Switzerland. “Even China will become a member when she ratifies the Austrian treaty. “Germany has signed and is pre paring to take the place which awaits her in the League of Nations. “What nations stand outside? Rev olutionary Mexico, Bolshevist Russia, Unspeakable Turkey and—the Unit ed States of America. “It is not yet too late. Let us stand the forces of civilization. The choice is plain. It is between the Democratic party’s support of the League of Nations, with., its pro gram of peace, disarmament and world fraternity, and the Republican party s platform of repudiation, pro vincialism, militarism and world chaos. m Equality of Voting "There is great pretense of alarm because the United States has but one vote m the. international assem bly against the six votes of Great Britain, Canada, Australia, New Zea land, South Africa and India. This Popular argument against the League ot Nations is as insincere as it is superficial. It ignores the fact that the executive council, and not the assembly, is the governing body of the league, and that our country is one of the five countries having pen manent membership in the council. assembly ol3l V ° teS eX ’ St Only in the ha« N hMf S^° Uld Y e f ° rget that France vote; Italy has but one vote, and Japan has but one vote. If there were any injustice in the ar rangement,. surely these nations wou!d have sensed it and objected to it. No affirmative action can be taken in any essential matter with out a unanimous vote of all members of the council of the league. No decision of the league, if America joined it, could be made effective or even promulgated without our con sent. Hike every other nation, we nave a veto power upon every resolu tion or act of the league. We can be involved in no enterprise except of our own choosing; and if we are not satisfied with the league, we can sever our connection with it upon two years’ notice. The risk exists only in the imagination, the service is incalculable. “Moreover, the United States in sisted that Cuba, Haiti, Liberia, Pan ama, Nicaragua, Honduras' and Guatemala should each be given a vote, as well as the nations of South America, great and small. Including the nations which are bound by vital interests to the United States, or in deed, directly under our tutelage, we have more votes in the League of Nations than any other nation. How could we, in good faith, urge that these nations be given a voice and deny a voice to such self-governing nations as Canada, New Zealand and the rest, which relatively speaking, made far more sacrifices in the war than our own country? It is desir able that all countries should have an opportunity to be heard in the league; and the safety of each na tion resides in the fact that no ac tion can be taken without the con sent of all. Defeat of the Treaty “It was the design of Senator Lodge, from the outset, to mutilate the treaty and to frustrate the pur poses of the administration. And yet Senator Lodge, with the help of ,the irreconcilables, having torn the treaty to tatters and thrown its fragments In the face of the world, has the effrontery to suggest, in his address at Chicago, that the presi dent blocked ratification and post poned peace. “The trouble with the treaty of peace is that it was negotiated by a Democratic president. It is difficult to assess the responsibility for its defeat. The responsibility rests, not upon its friends, but upon its ene mies. “The foreign relations committee, immediately following the last elec tion, was recognized with a personnel consisting of the open foes of the treaty. Amongst the number was Senator Borah, who declared that he would not be for a League of Na tions were the Savior of mankind to advocate it. Senator Johnson, Sen ator Knox and Senator Moses, whose hatred of the president amounts to an obsession, were also members; and Senator Lodge was chairman. “The treaty was referred to the committee thus studiously prepared for its hostile reception. The mem bers of this committee adopted every subterfuge to misrepresent the docu ment which they were supposed to be considering as statesmen. Deputa-r tions of foreign-born citizens were brought to Washington in an effort to color and exaggerate the impres sion of popular opposition. “The senate had eveji begun the discussion of the treaty months be- fore its negotiation was concluded, and did not terminate its debate un til nine months after the submission of the treaty. It took the senate nearly .three times as long to kill the treaty by protracted debate and by confusing and nullifying amendments and reservations as it took the rep resentatives of the allied govern ments to droft it. “It was not the business of the, president, when he brought this treaty back from France, to join with Mr. Lodge and other Republican leaders in their deliberate purpose to destroy it. Had he initiated, sug gested or assented to changes which would have substantially altered it.s nature, it would have been a dis tinct breach of faith with his asso ciates of the peace council and a vio lation of American pledges. Every one acquainted with diplomatic usages, or with the »plain require ments of honesty, understands this. The foolish invention that the presi dent refused to permit the dotting of an ‘i’ or the crossing of a ‘t’ has be#n so often repeated that many honest .people believe in its truth. , “In every speech made during his tour, the president stated entire will ingness to accept any and all reser vations not incompatible with Ameri ca’s honor and true interests-. It is .the plain intent of the covenant that the Monroe doctrine is excluded, that domestic questions are exempted, that not one American can be sent out of the country without formal action by congress and that the right of withdrawal is absolute. If there are words which can make these meanings clearer, they wil be wel comed. It is not reservations that the president stands against, but nul lifiaction. First Draft “When the president came back from Paris in February, 1919, he brought the first tentative draft of the covenant of fliie League of Na tions. He gave publicity to it. It was published throughout the land. He invited the friends of such a league to submit, criticisms. For mer President Taft offered four amendments; former Senator Root of fered six amendments; and Mr. Hughes suggested seven. At a meet ing of the committee on foreign re lations at the White House in March, 1919, other changes were suggested. These amendments were taken back by the president to Paris and their substance was actually incorporated in the revised draft of the league. Dr. Lowell, president of Harvard uni versity, in his joint debate with Sen ator Lodge, invited the latter to suggest constructive amendments which the president might incorpor ate in the draft; but he refused so to do. At, no time has he offered con structive amendments. At no time has he failed to offer destructive criticism. So intolerant was his at titude and he would not even con sider a compromise proposed by for mer President Taft of his own party and which was assured of the sup port of forty Democratic senators. Senator Lodge knew that he control led the senate and that in his own time and way, he could destroy the treaty. “This is the sordid story of its de feat. No blacker crime against civ*- ilization has ever soiled the pages of our history. The last chapter was written at Chicago. •'The Republican platform not only repudiates the League of Nations, but praises, without discrimination, all of the Republican senators Who participated in its defeat. Its words of benediction fall alike upon the irreconcilables, the Lodge reserva tionists. the mild reservationists and those who proposed a separate peace with Germany. It is consistent in one thing only the recognition of the fact that the open foes of the treaty, the secret foes of the treaty, and the apparent friends of the treaty who conspired with its enemies, are equal ly responsible for the destruction of the instrument itself. It would be idle to inquire by what political leg erdemain this meaningless and yet ominous declaration was prepared. It is enough to know that the ‘old guard’ sold the honor of America for the privilege of nominating a reactionary for president. The Cause of Peace “The war had set a great task for statesmanship. The best thought of the world demanded that a serious attempt be made by the leaders of the allied governments to formulate a treaty of peace which should pre vent the recurrence of war. Every rightful impulse of the human heart was in accord with that purpose. From time immemorial, men have dreamed of peace; poets have sung of it; philosophers have written about it; statesmen have discussed it; men everywhere have hoped and prayed that the day might come when wars would no longer be-necessary in the settlement of international differences. “For the first time in the turbu lent annals of the human race, such a project had become feasible. The destruction of militarism, the crum bling of thrones, the .dissolution of dynasties, the world-wide apprecia tion of the inner meaning of war and the final triumph of democracy had at last made it pos sible to realize the dearest dream that ever crossed The night of man’s dark mind. The opportunity for service was as great as the need of the world and the failure to render it must stand as a reproach for all time. “It is said that if the dead who died in the great war were placed head to feet, they would stretch from New York to San Francisco, and from San Francisco back again to New York; and if those who perished from starvation and from other causes collatereal v to the'“ war were placed head to feet, they would reach around the great globe itself. At this very hour, millions of men and women and little children are the victims of our hesitancy. How can the heart of America be closed to these things? “I have been many miles in this country and it has been my fortune to visit most of the states of the Union. It has so happened that I have been in many of these states when the boys were coming from the front. I have seen the great avenues of our splendid American cities lined with the populace, cheering and cheering again as these brave lads marched by, happy that they had come triumphantly home. But I have never witnessed these inspiring sights without thinking of the boys who did not come home. They do not rest as strangers in a strange land—- these soldiers of liberty. The gen erous heart of Francp enfolds them. The women and we children of France cover their graves with flow ers and water them with tears. Des tiny seized these lads and led them far from home to die for an ideal. And yet they live and speak to us here in the homeland /not of trivial things hut of immortal things. Rev erence and pity and high resolve — surely these re'main to us. In that TUESDAY, JUNE 2», 1920 heart of hearts where the great works of man are wrought, there can be no forgetting. Oh, God, release the imprisoned soul of America, touch once more the hidden springs of the spiirt and reveal us to our selves! “Let the true purpose of our party be clearly understood. We stand squarely for the same ideals of peace as those for which the war was fought. We support without flinch ing the only feasible plan for peace and justice. We will not submit to the repudiation of the peace treaty or to any process by which Jit is whitted down to vanishing point. We decline to compromise our prin ciples or pawn our immortal souls for selfish purposes. We do not turn our backs upon the history of the last three years. We seek no ave nue of retreat. We insist that the for ward course is the only righteous course. “We seek to re-establish the fruits of victory, to reinstate the good faith of our country, and to restore it to its rightful place among the na tions of the earth. Our cause con stitutes a summons to duty. The heart of America stirs again. . The ancient faith revives. The immortal part of man speaks for us. The serv ices of the past, the sacrifices of the war, the hopes of the future, con stitute a spiritual force gathering aboiit our banners. We shall release again the checked forces of civiliza tion and America shall take up once more the leadership of the world. CASTORIA For Infants and Children n Use for over 30 years Signature of 666 quickly relieves Colds and LaGrippe, Constipation, Biliousness, Loss of Appetite and Headaches.—(Advt.) ITCH-ECZEMA & (Also caiiod Tottor. Salt Rheum. Pruritus. Milk-Crust. 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