Newspapers / The Daily Advance (Elizabeth … / July 18, 1923, edition 1 / Page 7
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French Reconstruction Is Financed By Bond Issue Ami t!??? lact Thai the Bond* Fan Never lie Redeemed Un le? Germany I* Made to I'av for Devastated France F\plain* Inanimity Back of Poineare Policy lly I>\VI1> Li?REX( K CuOr'lyM |?2J trr T?? Oadf Ativans* .* II ? ? d ? ?rflrlic* fmm Kun'l* dnlm< ?I'll I.1, 1. .. lie lind> ?l.?t tl.e Kmmt I II.. ? nxtmn that ???** tbia-tatetf in the war I ? ? |...,||m IH?S Tkl' U W' ? he .tittrtl bl* Ml I I a IK . Wl.tlr be ???> e?.|? ?IU?1?Q' l< KpH.Ii Pi'.ris, July 17.?The task of physical reconstruction in France is h::ll? done. Fully three billions of dollars "have been spent i:i rebuilding homes, factories, highways and railroads. And the French government estimates that approximately three to fon i.iilion dollars more are needed to finish the job. I Wluiv docs all this money conic from? It is indeed a per tinent question and when you grasp its true significance you know why the French are in the Ruhr and why all the vest of the world call the French policy one of stubbornness, yet, why the people here are practically unanimous in upholding Pre mier Poincare's foreign policies.! Tin* French are thrifty i>eoplc and always save something from their t earnings. This grew up generations ago for the French have always been money lenders and investors. Before the war the Russian government floated its loans here as did the Turks, and the railroads of Italy and southeastern lluropo were built largely with French capital. So when the French government need*-d money to advance to people who wanted to rebuild their homes In the devastated regions what was a more natural thing than to float a bond issue? The total amount of reparations bonds, issued since the war, approximates six billion dollars of which half ha* been used for war pensions and half to compensate those whose homes and factories were destroyed, and to rebuild the railways. Fancy a liberty loan of six billion dollars in America and tell all those who purchased the loan trom iieople of jntan*' down to shop girl peasants! that there's no chance of repaying to them the original value of the bonds. What would happen to any adminis tration which permitted such a thing ; to happen? It would be turned out in the I'nited States almost as quick-] ly as it would be* overturned here The French who hold reconstruc tion bonds know their government' can't ultimately redeem these bonds! unless Germany pays. Yet they are' not worried because it may be a long tedious process nor are they inclined ? to rush into a cancellation of debts nor reduction ^f reparations ac-| counts Just because the present out look Is bad. The Frenchman does-! n't understand the art of writing off j debts as uncollectible. He may have | to wait a century for payment, but he waits Just the same and a debt' once on his books, does not come off. His unit of thought Is not a year but a generation. So the French Investor, feeling the utmost confidence in the government expects it to pay interest regularly and to refund the present bonds with others when they mature and thus t keep the thing going, untiMlermany | pays. The beet evidence .of the j Frenchman's confidence in the gov- ; ernment's ability to collect from Germany or to finance Its own in debtedness is the fact that since the bond issues were floated the market ' price thereof remains virtually the same as when they were first sold to the public. The French are not yet through. They must raise another three bll- ; lion dollars to finish work in the devastated regions and still other billions for pensions. They will keej on floating bond issues. Anyone who supposes there is chaos In | France's Internal credit situation is much mistaken. The people are as i sure that their government Is sol-1 vent and will redeem the bonds as j Americans are that the llbertys will be redeemed when something like! 23 billions of war debt still hangs over the treasury at Washington. And while foreigners may be skeptical of Germany's paying power, the Frenchman entertains no such 'Joubts but Is confident that Germany can pay and will ultimately be com pelled to do so. Map Out Program - Teacher Meetings RaU-lch, July 1# ? The executive committee of the North Carolina Ed ucation Association will meet some time the latter part of this month or the first of Auguat for the purpone of mapping out the program for th?*| district meetlnga of teachers which will be held during the fall months. Jule B. Warren, Secretary, announ ced today. President Elisabeth Kelly la still working In the summer nchooln of the mountain countlew of the State. Mr. Warren Mated, But she expects to return to Raleigh the litter pari of the month and at that time will call a meeting of the committee. Indicatlonn are that then* district meeting* wl|l be largely attended be cau<"' at least one of these will be easily acce-slble to every teacher In the *tate. Mr. Warren stated. The meeting for the western district will b?> held early In the fall, some time between September 15 and 30. Many of the mountain counties begla their school in July iiihI August, ho thcr*' will !??? plenty of tim?a for thi->e counties to orgallifcelh*' i branch*-* of tla<* and make plan."* for attending jh?* w? * t?-rn district meeting. Mr. Warn-n saltl the teachers of the north w?*s- j tern part of the State will m?-t t about two weeks alter lli?- other meeting. Winston Salem was sug- , gested as the meeting place for this district, but since tin- twin city gets tin* State meeting of the teachers in the Spring tile probabilities are that}1 Greensboro will he nek?'d to enter-i tain the group of teachers some time , in early October: The ? counties around Charlotte |' will probably come in for the third ? meeting, th?? counties whose teachers can get to Raleigh most easily will hold the fourth of these meetings, while the two other meetings will be ht?M Immediately after the ses? ion of the Raleigh district. One 01 these meetings wl'l he held in the southeastern section of the State and another In the northeastern sec tion. Although the programs have not I been worked out Miss Kelly wants them to be as practical and helpful1 to the teachers as possible, Mr. War ren asserted. The meetings will begin on Friday afternoon with a short general meeting, and then; tlier will be group meetings for the' various -divisions of the association, where the problems peculiar to each teaching group will be dis cussed. FIND ritKCIOl'S STONKS Melbourne, July 18?A remarka-' ble find of precious stones haH been reported near Wyangala. about 2f? miles from Cowra. New South Wales, and not far from the once] famous Mount McDonald gold and1 copper mines. The stones, which j comprise diamonds, rubies. sap phires and turquoise, have been sub-j mitted to experts who declare them | genuine. The diamonds were found in blue I pug clay similar to the pug clay in which South African diamonds are, embedded. The sapphires are of a | brilliant hue, and the rubies aJ deep red. Mrs. W. J. Grant and children, I Frances and Raymond, are visiting friends at Washington and Tarboro. I HAMBURG KM 1GRATION TRKBIJJS' t Hamburg. July 18.?German emi gration from this port during May was more than threefold that of 'May last year. The emigrants numbered 6.391 including 4.811 Germans. In May, 1922. there were 2.864. cf whom 1.156 were Germans. Miss Irene C. DifTedal and Mr. Stanley l.eroy Lynch, both of Haiti more. Md.. were married Tuesday : morning at 11:45 o'clock by Uev. K. F. Sawyer at his home on lVarl. street. *???? y?r vsrstisn ?n Ift# hXftMt t tfts ?!?? Hid## Jut at ih? N'nh Csrollfts III*#. #l#*sMn<i looo f?#l K it?t <t)?a A'h??ill# Wonderfully rool Hints!#, ir mm'r*l..? *r#n?rt. . h?rat?iBda?r# of frolu ln#?i ? h?sr> h<"'l Ml#-, !#l?*toOn? SIMt frl#crs|>!| mnic* Tout (tally M.I trsln*. Writ# for lllustrst#* MAN MOUNTAIN INN. ROAN MOUNTAIN. TCNN. T. I. TftAWICM. rNOPNIfTOR. (iKOCKKIKS Th*l will |de**e you. Cantaloupes. Berries. Cu cumbers. Squash. Crape Fruit, Oranues, Cabbage. Sweet Corn. Tomatoes. Peaches. A lot of nlc?' Country llatn. Shoulders and Sid" Meat. l'iiu?*iito Cheese I'kvs, Siiari?e Ch?ese I'ltus. ? \i.i. <; \iii;k.rr rjioiMN (W7 or i?DS and order con b?> filled com plete, "with service" all ov? r town. A&l* v FLOCK A?l? FAMILY or SE1.F-KIS1NC 12 ll> Ban 19c 2 I Hi. Bag 9.ic I'l'KE LAKI), II). TTT FINEST NEW YOKK STATE CHEESE, II.. 30c CHOICEST CREAMF.KY BCTTEK. Il> 13c LEMONS, Doz. ? 33c "IONA" Vegetable* Corn, No. 2 can 10c Tonialoc* No. 2 can 10c Tomatoes No. 3 can 16c Pens, No. 2 can 1 Ic COFFEE Three Supreme I allies It O'clock Ited Circle BOKAK 28c ll>. 33c ll>. 38c ll>. pkg. The Great Atlantic & Pacific Tea Company 8 N. Wpter St. Owens Shoe Co. FOOTWEAR OF MERIT Main St., Hinton Building VELIE L U E Completely Equipped Sport Model, $1565, at factory There 1a no denying the mounting popularity of the *port model ?and this Velie Sport anticipates your every possible requirement, in beauty, power, speed, depend ability, modest price, low operating cost, and complete equipment. It come* in special colors, with nickeled drum?type headlamps cow*, lights and two spotlights to match; two extra cord tires with covert, mounted one on either side; a roomy trunk at the rear contains two full-size suit vase*. This choice body is mounted on the Model-58 chassis and powered with the justly famous vibratlonless and automatically lubricated Velie-built motor. Auto Supply & Vulcanizing Company |>!*trlbutor? for Ki?*fer?? North <?rolin* ?vrry Uaw tveteiiacmr u>r make m friend SPORT ' ficlt/anlk fcffcicj Evtra special on Mason Fruit Jars. Quart Jars, per doz 83c | Half Gallon Jars, per doz. .. .SI.00 | All kinds of pickling spice.-. Regular 10c pk<>-. Spine n>? Sc ^ Regular 5c pk<r. Spice for !c 5 Fine Granulated Sugar, per lb. 9 l-'lr g We save vou 1 ()c on even dollar spent I JHLLO iVK (RE \M POWDERS, i per pkj* 10c | 1 FOR REAL SERVICE i i Semi Is Your Palm Reach, C.ool-C.loth and I llopsacls Suits. | Also don't make llir mi>lakr of putting your ! winter garments away without having them rlruiird. ! We eaM anil deliver to all parts of lite city. Cooper Cleaning Works j PHONE 2H0. 2 Matthews Street. Q Closing Out Our Entire Stock Of | STRAWS $1.1)0 Straw. Iluts $3.50 SI.(Ml Straw llats 83.00 83.30 Straw Hats 82.50 83.00 Straw Hals 82.25 82.50 Straw Hats .. 81.75 TOWNSEND AND GltACE LINES See II in<loic Display McCabe & Grice | What's In A Name Tiipcs Iiiivp changed since the ltur<l of Avon pul his famous query, liWliiil'? in a name?" In Shakespeare's day the most micciniifiil merchant wa? the liiggcsl skinflint. Hi- name meant notli intr. Yon i-nleml hit shop willi your eyes open ami your fingers crossed. Yon haggled and yon bargained. Anil if yon were especially astute, per haps yon retained your eye teetli. Modern business ideal- and modern advertising have wrought the change. Today, the Indent us ?il l of any successful business is a good name hnilt up through fair dealing, fair policies and u good product. Advertising creates reputation. Makers of ad vertised products and the merehuiilH who Hell these product* frequently value the names at mil lions of dollars. 'I hcy cannot afford to jeopardize the worth of these names liy selling anything hut good merchandise of full measure and fair price. A merchant or manufacturer does not dare to advertise wares that will not give service, lie lias his good name to protect. Hank on thin. idirrtim il goodn must be an ad rerlitrtf. That's why it pays you to deal with ad vertisers and to huy advertised goods. M |Oti Pi V m
The Daily Advance (Elizabeth City, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 18, 1923, edition 1
7
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