Show PARADE EDITORIAL FARE-R- THE SALT LAKE TRIBUNE SUNDAY MORNING ESTATE— EAL JANUARY NEWS MAIN JtLj 93L Part SECTION— Third Pica I t U S EMBARGO AGAINST EUROPE SEEN AS EMPTY THREAT War Debt Collection Plan Held Expensive isev reprisal The figures in this respect are illuIn 1931 France Britain minating Belgium and Italy bought American goods to the extent of $925000000 four whereas we imported frorfr-th-e together but $386000000 On balance therefore they took $539000000 from us in excess of what we took from Last year the figures were them $580000000 and $287000000 respectively or an excess of $293000000 of purchases on their side France and Belgium Good U S Customers To take the example of France and Belgium which have defaulted outright on the last three due dates and gainst whom popular opinion is now being chiefly directed In 1931 France' bought from us to the amount ‘of $18600000 and we bought from her to the tune of $92000000 Last year the figures were respectively and $64000000 Thus in the first case the French bought $94000-00more from us than we did from them and in the second $40000000 In the Belgian case our favorable balance was $30000000 m 1931 and in 1932 then that It must be if congress sets out to punish France or Belgium or both for debt default by raising obstacles to French and Belgian imports both will retaliate la each case we shall stand to lose vastly more than these two nations To assume the extreme case we shall ldse- - $104000000 in-- French trade ’to cut off $64000000 of French goods from our pwhets on the basis of the figures Of 1932 On the maseof 1931 statistics our net loss would be $94- 0 0 000000 f This is the fallacy of the Whole reprisal proposal as it ic also the absurdity of the “buy American” campaign Today governments have generally taken the matter of foreign trade In their own hands Under the quota system they are so managing that their imports from any other nation shall be balanced by the purchases of this nation from them And that means that if we are to keep our present level of sales to our debtor nations vffe must be prepared to take almost $300000000 more 'of their goods this year than last ’ us' to Unhap-NatiOl- Favorable American Trade Balance Would Suffer if Nations Launched Reprisal Move By FRANK H SIMONDS WASHINGTON Jan 13- -If dent from the comment which folto lowed the president's reference "war debts in his annual message that certain members of congress at least are planning to press for coercion or reprisal against defaulting debtors The principal method advocated is an embargo upon exports to us from nations which have declined to pay suggestions are not lacking that the same measure be directed against those who have made only “token” payments And of course the popular method for action is that of excluding the wiiies and liquors of the defaulting nations The trouble with all this sort of thing— and the difficulty at the root of the whole debt question— is that those debtor nations which have either completely or for all practical purposes actually repudiated debt payments are our best customers in In the aggregate they buy Europe from us annually from two to three times as much as we buy from them Thus they have In their hands a weapon to use against us of fatal character if we go in for coercion or refuse to ors but the inexorable operation of take enough wines to make up the present difference be- Britain and the United States The cencel the war debts which are quite 1e'°"omie laws tween their sales to us and our pur- effect of this boycott is of course to l to collect Can Sell reduce the sale of German goods beyond its power chases trom them however this touise will not pily the thus German ecoabroad and surplus drive toward the It present disturb the nations which have actu Amount It DU) 8 of exports over Imports nomic nationalism and France and But as this process goes on the Ger- liy defaulted namely is carried to its logical concluand to a A nation can in the long run only re- Belgium hut only Britain man namoment government when is the deliberately sion coming of these sell abroad to the amount it buys Both tions will get down to the basis of duces the payments abroad of- - Ger- minor degree Italy continued to make save as it is willing to make good a have nations London borrowed have who mans in Purchases and barter pure simple payment and Britain already deficit in purchases by loans It can as between nations will be arranged or New York The ultimate eftect of token” nflld upward of $2000000000 In has is the that therefore the a basis debts whether govern- on strict boycott by governments and this would be to only '“ mental or private as It buys more of parity And so far as our tjrade American and British holders of Ger- effect therefore — — our best payer —— relations with the debtor nations are man loans pay for the boycott by los- punish matter we have come concerned that means we shall have Ing their interest payments on their As a practical of the future the And obviously to the point where to sell about half as much or buy securities or paper clear For a certain twice as much taking the averages the thing would work the same way debt question is continue to pav uw will Britain time underAmerican the if government recent of years semiannual In It follows therefore that far from took to boycott France or Belgium steadily diminishing not exceed a our being in a position to bring pres- although It would be the American atalments which will gold Italy will sure upon France and Belgium or exporters not the American security value of $5000000on inher payment of keep Britain and Italy for that matter they holders who would bear the burden similarly Some of the Of Again one hears from time to time $1 000000 semiannually will follow the Can always have the last word course if the United States without of the famous fashion in which An other debtor nations British example— more will imitate regard to cost wishes to enter into a drew Jackson forced the French to the French That represents at most trade wfcr with debtor nations and to pay up by threatening to seize their peyment of some a prospective But times this in country tariff a an tb wall holdings amounting puttfp on a debt of aiound annually and American the to without costs have the changed regard embargo 000 000 $12000 Riviholders-ion n Paris the is of But the the plan possible property price In addition the private investors era and elsewhere in France collecthat performance is obvious the United States are seeing the of investment times an have many tively collapse of their holdings rapid here French than German Boycott holdings any larger the aggregate which in So if Roosevelt undertook to emulate abroad amount to a similar sum This is no American be would Cited tt Jackson prop Example of American holders in France who “held the tably true in the case The world is too having an inter- erty in Germany which ex investments baby” ceed $2 000 000 ooo Yet If IS impos esting Illustration of the meaning of sible to make the average congress such tactics in the case of Germany Only One Weapon man recognize that what is taking Because of the treatment of the Jews Left Congress plate is not the result of some wicked by the Hitler regime an unofficial debt boycott of German goods is going on In reality congress has exactly one conspiracy of dishonest foreign require Roosevelt Drives Shrewd Bargain' Recent criticism of the Roosevelt course in bargaining to sell more apples to Franfce in return for taking more French wines is therefore just In fact the presiso much nonsense dent drove a shrewd bargain because he persuaded France to take more of our goods in return for selling us wines whereas French policy would goods abroad than it sells Thus nation which exports more than it imports can only collect debts abroad as it lend the amoujit due on those debts As long as we did lend the money we collected the debts but when we stopped lending the debt payments ceased automatically When the gieat depression came we were the most vulnerable of all nations because on the one hand oui exports vastly exceeded our ifnports knd on the other the world owed us prea-ent-da- y Pae (Continued on Sou th East Furniture Co ’s DAFdilADUiY for We Sell the Famous Monarch “ Ranges They Are Sales Specials January For Monday and This Week Only ' Headed South East These Days Variety Style Quality and lowest prices make this truly greater January Sale than usual Sehsational Offering of ? furniture and that is especially true tbia year at the South East Drive Out ti Sate the big Wise Shoppers Huy New Model 30 BREAKFAST SET ELECTRIC - upward of $20000000000 in publia and private debts But so far atatesmanshlp has not under taken to make clear to the American people that It was the failure of prevl ous statesmanship to recognize that a creditor nation could not have an export surplus which was responsible for our disaster Oh the contrary It has so far confined Itself to the consideration of two impossibilities— WASHER With Dishes faced high-pil- TABLE and 4 Windsor Chairs beautifully decorated and a complete Set of Breakfast DROP-LEA- F All Dishes —Washes Better RUG All-wo- ol atto for only Down— $1 a Month Dishes separately 813$ 9x12 e Willi Sweeper and Rug Pad seamless Axminster Latest patterns A Rugv rug pad to protect it and a aweeper to keep It clean All complete for only Month TERMS— $288 Down $2 $288 Rug Pad sepaartely And Carpet Sweepers priced at $2 difference'NOW There’ Left— 125 SOTES LUVIING R©(0M $79 SUITES for Only $98 SUITES To Sell at !67 $48 $119 SUITES On Sale at $139 SUITES $75 87! To $148 SUITES'" To Sell at do at 99° Actual Differences Between Our Sale Prices and the Present Market Price —Washes Faster —Washes More Thoroughly — Easier on the Clothes —Costs Less to Operate Now Only Every home can now have the advanPhone Mr Haim-wor- th tage of a Maytago at Hyland 1915 for further details The World s demonstration and a home befinest Washer Is no longer expensive New offers the cause now South East Model 30 Maytag for only 50 $ before the 25 (This Offer Is Limited— Come In at Once) NEW MODEL 10 MAYTAG Every one has always wanted a Maytag but some thought they could not afford one But now South East makes a most sensational ofMAYfering for a few days only A GENUINE TAG FOR ONLY S950 DOWN— $500 These great difference in prices ' ore positively true Every one of them! This Sale only includes merchandise purchased by ns 69 50 A MONTH With Chair And Lamp DESK SPINET DESK similar as shown In rich Walnut finish Also similar Chair to match and Desk Lamp as shown All for $095 Month $1 Lamp 86c Down 81 Chair priced separately Reading S276 A $1 Lamp Lamp separately Down Table S3 and the priced advance We pre- Big Savings on These— HR 7 82 a Month 40 in furniture prices pared months ahead for this event Buy Now and Save! With Footstool End Table and Comfortable Large Velvet LOUNGE or Tapestry CHAIR of quality with and to match Footstool Table and Lamp as shown All Complete for to Bedroom $69 $2 op SaBe Sonnies $119 SUITES For Only SUITES On Sale at $75 $45 Above Are Our Sale Prioea —Compared to Present Retail Price Regular $2975 LANE CEDAR CHEST Poster Bed Outfit Fine Combination WALNUT BED Felton Mattress —Coll Springs and a Pair of Emmerich Pillows $288 Down— $2 2485 a Month Springs sepaartely 8878 Mattress 8678each And PUlowi 800 EASY WASHER VOSS WASHER - - With Tubs 59” very popular Washer Band washiinr action rod tub cormrated And a safety wrlnrer oMlne Drain Tubs jiair A With Tub 6650 A well-kno- Washer merit and of real many fine features May we show you? Only 4 of these left 7(Q $£95 it a numW of 9(93 Combination Walnut Tables Closing out jKMbXfcUMK - 92 With Tubs and Pump IDDNONC Jfi (ROMPM DINETTE SETS for $48 7450 Only alx of these A pair of Tubs included The famous Easy And Pump Model Drain Tabs Included Two and living Room Suites includes SOTES $149 MASSIVE SUITES for 29 s99! Note the Big Savings from Present Market Prices Quoted Above Baby’s Crib Wood Clbs- - HxM-lno- h xizf Ivory Orwi tr Maple finish Regular $4 95 values Sale e and some with footstools also includes Bedroom Suites comprising Vanity or Dresser Chest Bed and Bench The Dining Room Suites quoted are all suites except the Dinettes which Sets are 5 and Occasional Tables There Are— ce Set DISHES $289 m A g Three-Piec- EASY w “Memorize dhc Name—Remember the Place EAST 2W4 SUGARHOUSEf With Tray Combine- - h Large M tlon Walnut and Cedar f exclusive Chest Many Lane features Including ray handy a Month pow(li This is only one of the many famoni our Sale in Included Chesta Lane This 095 Complete service for stx Brand new Limoges patSlmllaf as shown tern EH1LCO RADIO ' $45 "Beautiful low boy cabinet Radlopcr nd famou Thl$ la onlv formatter one of the many wonder'buys” now ful Phileo belnc offered here Closeout Patterns LINOLEUM Inlaids SI Print 75t Felt Base 49t sq yd yd sq yd q- - f9 SMSE 2i44 m SUGAR HOUSEJ 1 HY1Q15 f 1 Cuitomers are especially invited to attend this Sale Drive In or Write In for FurtheDetail r- ‘ |