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a |" means let us have ratepayers' meetings, on a a a er a SE AGE FOUR The Oshawa Daily Times Succeeding THE OSHAWA DAILY REFORMER (Establisted 1871) bist.ed vy Ob ent floes '] Chas. M. Mundy, P! Managing Director. Times is UI member of The Cana NE ul and the Oshawa car- ee ory 500" \oaisidy, Ook States $4.00 3 year for CE Bond Bui 6 Temperance Street, Telephone 48 Bond Belh iL D. Tresidder. representative. \ MONDAY, DECEMBER 21st, 1981. The Ratepayers' Meetings The Ratepayers' Associations of the city "have it in their hands to make a direct con- - tribution to better municipal government in Oshawa, Since they were organized, they have provided many opportunities for the discussion of public affairs, and while there have been occasions on which their J eriticisms have lacked in constructive effect, they have done well in bringing information of an important character before the rate- ers. pay the next two weeks, Oshawa will be in the throes of its annual municipal elec- tion campaign. There are matters of much importance to the city to be discussed. Not only will the personnel of next years city - council be involved, but the electors will be ~ voting on two bylaws which will have far. reaching effects on the future civic govern- ment of Oshawa. The associations of * ratepayers, through their meetings, can do ' * much to enlighten the at stake. public on the issues This was evident at the meeting of the Central Ratepayers' Association last Friday, when the bylaws were discussed sides. . om bots suggest that the Ratepayers Associations in all wards ought to sponsor meetings in the next two weeks for the discussion of the issues now facing the electors, and that all electors ought to be invited to these meetings. It is only in this way that there can be an intelligent and enlightened electorate ready to go to the polls on January 4. Conditions today are too serious to justify any haphazard selec- tion of candidates for office. The greatest care must be taken in the making of nom- tions, and in voting for those who are x Qualified to serve the city. By all "where all angles of municipal affairs can "be studied and discussed, so that, when 4 voting takes place on January 4, those who will be well posted on the issues at 3 Hoh and the policies of the candidates. Going the Whole Way dings of the government as to the in- ie which need protection. It has been realized, after generations of political squabbles over tariffs, that Great Britain, as an industrial nation, must safeguard its own industries from unfair competition from other countries, and that is exactly what is being done today. Britain's policy, however, does more than simply protect its industries from competi- tion in the home market. It helps to de- 'velop, for them, wider markets in the vari- 'ous countries within the Empire, by giving these countries a great preference over foreign nations. The principle of Empire preference is one of the strongest factors the plan for ding up British trade. e British government has realized that future success of industry in Britain s in widening markets within the Empire r British products, and that this can only done by a preference which confers atual benefits, "The mutual benefits which will arise m the exemption of Empire goods from ior dumping duties will not be fully felt til after the Imperial conference. But e home government, after having fagged r behind in the granting of preferences the overseas Dominions, is today not atisfied with 'going halfway. It is going whole way, in the certain assurance t when the Imperial Economic Confer- se is held, the other Dominions will fol- low the new lead which has been' set, and ill create a far-reaching system of Em- preference that will do more than any- to build up trade within the Four Good Signs - Newspapers, and particularly the finan. cial pages, are these days devoting much lention to the po of a great im- ment of business throughout the "autom "industry. Heads of le concerns are giving definite s for the belief that their industry threshold of a better season of business than has been enjoyed for the last two or three years. The general manager of the Studebaker Corporation, for in- stance, seems to be on solid ground when he cites the following four reasons for his belief that better business lies ahead: The Canadian market has now been restricted to Canadian producers, "There is an accumulative demand for cars. "There are good prospects for a general improvement in business in all other lines, leading to an Increasing circulation of money. , "There is a possibility of increased export through new trade agreements, although this will not show its real effects until 1933." This authority on the automobile indus- try seems to have sound reasoning behind his prediction of better times. Coming closely on top of other statements of a somewhat similar character, his summation of the situation is convincing, and gives real hope for increased activities in the automobile factories of Canada. Editorial Notes Australia now has a union government, elected in a national crisis. There must be some merit in coalitions when Great Britain, New Zealand and Australia have all voted for them. Remember that tomorrow is the last day for sending in applications for the Christ- mas Cheer distribution by the Associated Welfare Societies. Individual citizens and organizations are doing their best to make this Christmas a happy one for all citizens. This is the proper spirit of the season. Toronto papers are again showing their friendly (?) attitude to Oshawa by announc- ing in flaring headlines that the city is about bankrupt. This will hardly help either the city or individual citizens in their financing. The warning of Sir George Paish that concerted action by the nations of the world is needed to bring back great prosperity, is too serious to go unheeded. Although. Mayor Marks is the only Rotarian on the city council, it is well to note that E. A. Lovell, Ross Mackinnon, Albert V. Swail, and Allin F. Annis, members of the Board of Education, also are members of the Rotary Club, | Other Editor's Comments MUNICIPAL SALARIES (Kingston Whig-Standard) . The Chatham News has been tackling the prob. fem of municipal salaries and announces that sev. eral Chatham ratepayers have openly advocated drastic reductions in the monthly pay envelopes of city officials and elected representatives, We do not know how the salaries of the City Hall officials in Chatham compare with those in Kingston, but the Kent County Capital seems to be loaded down with some municipal expenditures of which the city of Kingston is entirely free. For instance, they have some water commissioners there who are elected by the people and who receive a salary of $200 a year, The hydro commissioners are also elected but throwing in a switch calls evie dently for more experience than turning on a tap, 80 the hydro commissioners get $300 a year. That is bad enough, but just imagine paying the aldermen $5.00 a meeting, which approximates about $120 a year apiece, We know something of Kent County, It is a pros- perous county and they are free spenders down there. Nevertheless, we think it is about time that there was a little more public spirit shown and the aldermen and utilities commissioners gave a little public service for nothing. We agree with The Chatham News that if they are going to cut the salaries of the civic officials, a good example could be set by some of the higher- ups. BITS OF HUMOR : WHY WASTE BLOOD? A Scotsman presented himself at the out-patient department of a London hospital and showed his cut cheek to the surgeon, "Dong while shdving, I suppose," said "You'll want me to stop that for you? "Not necessarily," replied the Scot. "I was just wonderin' how much ye paid for blood transfusion," in MAKING IT WORSE "I've called my latest picture 'The Fight' War is a terrible thing, isn't it?" . "Yes, but t's never quite so bad as it's painted!" NOT BEPTIME YET Dorothy, attending church for the first time, was surprised to .see the people about her kneel sud- denly, Turning to her mother, she asked what they were going to do, "Hush, darling," whispered mother, "they are going to say their prayers." "What!" with all their clothes on?" said Dorothy, THE FEEL VS. THE LOOK Mr, Crabber: You look like a fool in that Eue genie hat." Mrs. Crabber: "Yes, and I'd feel like one in my old one!" \ BITS OF VERSE ; THE NURSE The lights in you Ligh windows through the night Keep company with the stars, while all around The homes of Health arc wrapt in sleep profound And undisturbed. In sacramental white, wards of Pain with listening step and light, All sorrow-softened, now I see you go. Watching the tides of life at ebb and flows Your sphere the scene of many a hard-fought fight. "Tween life and death a mediator, you \ Plead much that motherhood be left a while; That tender buds be not untimely. slain. Down many a t-encom| d valley, too, You go with travellers their last, lone mile, Or bring them back to golden days Le ~ =~ALEXANDER LOUIS "FRAS BR, the doctor, Eye Care and Eye Strain by €. H. Tuck, Opt. D (Copyright, 1938) THE VALUE OF GOOD LENSES The majority of people have been educated to the value of vision and as a result of this, those entrusted with its care should be prepared to render an accounting of their ac- tions. The best of science and skill coupled with experience in the pro- fession goes out to the patient in- corporated in the correction or pre- scription. The refractionist is as only as successful as his equipment prepares him. He is only as strong as the weakest point in this equip- ment, be it in knowledge, experi- ence, mechanical equipment or lens quality in prescriptions. Every minute of the day means busy Work for the eyes, work that must be done quickly, easily and without strain, If your eyes tire they need attention. An examina- tion will tell you whether or not you need glasses, If you do our modern methods, lenses and incon- spicu. s frames will surprise you in eye cc fort. Your ev .s are worthy of the best. to WAITR THAT you should boost your city morning, noon and night, The growth of the home city is the personal respoasibility of every citizen in it. A city full of quitters always loses in the race of progress. You should tell the world abgut the home city not once in a while but all the while. Every citizen should be a go.getter and get everything they go after, Most communities need increased co-operation to make them better. Too many cities have obstinate men, the fellows who do not hold opin- ions--opinions hold them, BE AN OPTIMIST! AN OPTI- MIST IS THE FELLOW WHO SEES THE GOOD IN THE HOME CITY AND RESPECTS THE OPINIONS OF HIS NEIGHBORS HE BELIEVES THAT EVERY CLOUD HAS A SILVER LINING AND IS ALWAYS READY TO HELP HIS NEIGHBORS AND HIS CITY. HEAVY YULETIDE TRAVEL EXPECTED Railroads Preparing To Handle Huge Crowds During Week Montreal, Dec. 21.--~Home and the Yuletide season. The two words are synonymous to Canadians the world over, In so-called hard times as in good times the business and professional men and those in more humble. callings lay aside their wor ries as the Christmas scason ap- roaches and formulate plans as to Pros they will spend this joyous eriod of the year with their fami- ies, either in the city or in the rural communities. This year will be no exception to the rule, according to passenger traffic officials of the different rail- roads in Montreal who . predict a very heavy travel during the com- ing week. Reservations for tickets arc pouring into the railway offices in great numbers which, as the days pass, are growing larger and larger, Special equipment is being prepared, schedules are being are ranged and every precaution is be- ing taken to assure the holidayers of efficient service. Heavy ent Travel The student travel is always large. This year it will in all prob- ability be larger than ever. The Canadian National Railways alow have issued over 62,000 certificates to students eligible for special rates and by the end of the week this number will probably reach 75,000 as demands for additional certifi- cates are being reccived daily, Travel to Lucerne and the Lau- rentians will be a feature of the com- ing holiday season, according to word given out by the passenger de- Jattment of 'the Canadian Pacific ailway. These travellers, the ma- Jority of whom come from the Unit- ed States, are made up in groups of friends and relatives who intend spending several days at Canada's well-known winter resorts. Christmas week will 'also sce a large number of tourists from Unit- ed States visiting Montreal at spe- cial rates. Rich Gold Strike Made in Rhodesia Bylawayo, Soul hodesi DE vit yer Rhodesia, zingly rich gold strike has been a! Sauerdale in the Bula- District. pecimens of rock taken from a prospecting shaft were said to yield an average of 100 ounces of gold to the ton. Already prospectors have staked out many claima TN Capa ap When Considerable Mend the Situation? 1t is time to review the silver situation, Proponents of the idea of setting a price on silver which will have a direct and fixed rela- tion to the price of gold have been having quite an innings. In spite of the fact that they have not yet been able to reach first base their battling away in the ef- fort to do so has attracted the at- tention of many on-lookers. It has heen the contention of The Northern Miner that there has been no necessity to estab- lish silver at a price level whic) would have a direct relationship to the price of gold. It has been strongly suggested that silver was and is a commodity, subject to the laws of all commodities. To this suggestion there has been violent objection. It is a fact that the silver proponents are parti- cularly resentful of the idea that gold should enjoy monetary ade vantages not granted to silver. The silver men claim that history proves the production of the two metals has shown, over a long period, a ratio of comparison of about 14 to 1 and that the value ratio should be established oa or about this basis, or a lower basis, but in any event, some basis None of them are so retiring as to suggest a lower price than 50c an ounce and most of them are far more ambitious. The various proposals are in- teresting, even if not sound, The most reasonable of them all fi» that which F. H. Brownell, of American Smelting and Refining Company--world's largest silver refiners and sellers--has advanc- ed. He proposes that the leading industrial countries of the world should retrace steps taken in sil- ver matters gince the war; that further demonetization of .gllver cease; that nations announce a poliey of stopping further sale of silver, Lost Confidence Hamilton M, Brush of the same company says silver merits sup- port. He goes about proving this by repeating the things that should not be done about it. He says we should nat try to control production, should not overem- phasize the commodity outlet, should nt urge bimetallism, should not try to peg the price. Mr. Brush is disarmingly sensible about the whole thing. He says the whole cause of depressed price of silver is lack of confi- dence, He, blames a large part of the fall in the past two years on existing industrial conditions, a fall which was accelerated by de- basement of coinage and by In- dian action, notifying the world that that country would be a sell- er of silver for a long time inte the future. He says that this In- dfan policy invited, almost beg- ged, the short seller to climb a board and ride down hill. There {s something in these arguments, | without a doubt, Ignoring the Facts Hon. H. H. Stevens, Canadian Minister of Trade and Commerce, is an out-and-cut proponent of bimetallism, bringing in all the arguments in favor of it, telling us about the curtailment of pur- chasing power in the East and all | thaty He quite patently envies | gold its solitary state as mon- arch in a world of shifting values and would establish silver as its consort, He points again to that old fact that the British Empire produces 70% of the world's gold and still Is beggared of it, ignor- ing the fact that production of a 7iven commodity does not entitle its producer to permanent owner- ship, does not constitute anyhing bu a medium of exchange. He brings up the matter of a gold shortage which he would bglster up with silver. All the stock ar- guments are passed in review and some new ones are introduced in- to the parade, It seems to The Northern Miney that all these people, disinterest- ed or, are at great pains to ignore the existing situation and are too prone to lean one elbow on history and the other on the- ory, After all, why rhould silver sell at more than 30¢ when cop. per is selling at 6c, wheat at 60c a bushel, sugar at 1ljc a pound? 8ilver has been----there is uo getting away from the fact--a commodity for many centuries. It has had a fluctuating price which is the final test of its status, When commodity prices are high it is high; when commodity prices are low, it is low, It is, in fact, the most sensitive of all barometers to the trend of prices. It is the barometer of barometers. It is so good that long before the stock markets of the world began to show declines, long before wheat and copper and sugar went down, it started to sell off, So it can be expected to behave in the. tradi- tional manner and first point the way to a return of more normal price levels. There have been oc- casfons when the priee of silver was abnormal--such as war time --when conditions were unusual, But on the average it has acted in its real capacity as pointer and this virtue its adherents have ne. glected to enumerate, Considerable Shortage Suppose the present situation is analyzed. The world produc. tion of silver in 1030 was 248,- 000,000 ogs., or slightly less than the demand. Silver productjon for the five years 1935 to 1929 saw at the average rate of 262,880, 000 ozs., or less than the demand, which 'was made up by remelted silver. Silver,production for 1981 will be considerably below re- quirements. British Metals Cor- poration, Ltd. one of the largest metal dealers in the world and an authority on the metal, says that 1931 production will be only 150,000,000 ozs, This points to a considerable shortage and there Silver, With Output Off 40 p.c. Looks Due For a Natural Rise While Bimetallism Advocates Away, (From the Northern Miner) is little prospect of enlargement, silver being in the main a by-pro- duct metal, coming from copper, lead and zinc operations which are now and will be further cur- tailed. These are facts which The Northern Miner quotes as evid- ence that the price of silver can and will improve without any ar- tificial stimulation. The adherents of silver's cause ark for its pro- motion to the status of a fixed price. In the same breath they tell us there is now nd will be in future a shortage of gold. If so, and the point of gold shortage is open to doubt, and if silver were promoted in status, the evil ef- fects of a shortage would he dou- bly felt, with silver production falling. ' It is argued that if the Indian government stopped gelling silver and if the governments of the world restored their coinage to full or near full value the price of the metal would increase, Quite so, and with a speed that would quickly remove the argu- ments of the pro-stabilizers. There would be a shortage which would put silver to a premium. Then the precious arguments of the stabilizers would be knocked into a cocked hat, They gay now that the farmer, the long term borrower, the mortgage giver have to pay in depreclated com- modities for debts contracted on a gold basis. What about the struggle to secure scarce silver and fits effect upon silver using countries if the metal were sta- bilized? One more evil would be added to the present evils Silyer As a Commodity Reducing the problems to its implest dimensions, suppoge a silver producer had dealings with a copper producer, At 30c¢ sil- ver the former would have as much buying power with copper at six cents as he would with 90c silver and 18c copper. His 30c¢ sil- ver will buy as much wheat to- day as it would three years ago. There is no hardship, no injus- tice in rating silver as a commo- dity. The Indian or Chinaman who hoarded dollar silver when wheat was $1.50 a bushel has not been cheated. He can dig up his hoard, go into the markét and buy his requirements on an equal basis. In fact today he can take his depreciated silver and buy more in many lines than he could before the fall of silver and other commodities, It is absurd to ar- guo that because the British Em- pire products 70% of the world's gold it should be able to retain anything like that percentage. Trade balances are made up in many ways and when all inter- change has taken place, of com- modities, services, etc., gold steps in and balances off the books. Lack of gold in a country simply spells an unbalanced trade posi- tion, Fallacy Disposed Of Too much capital has been made of the fact that half the world's population uses silver. Sir Arthur Salter, British econo- mist, says that twenty per cent of the world's people only take 24% of the world's exports and he refers to the East, The Chinese have one-fifth of the world's pop- ulation but that does not mean they do one-fifth of the world's business, points out the Nutional City Bank of New York. Silver is not in ag bad case as such commodities as copper, lead, zine, rubber, coffee and sugar. In fact its outlook is considerably better than any of those basic necessities named. Production has been definitely established at levels considerably below present consumption requirements, some- thing that none of the other sta- ples have been able to do. Noth- ing has arisen to supplant it in the affections of the people of the world, as rayon has supplanted cotton and silk. It will be restor- ed, when world trade is restored, and in the view of The Northern Miner it will forecast by a con- siderable period the upturn in commodity prices. In conclusion it might be asked, what would become of the arguments of stabil- {zation proponents should silver go naturally to a dollar an ounce? Tov Much Price-fixing The world bas had enough of the evils of artificial control of stabilization schemes. They don't work. After the spanking which this country took on wheat-fixing Canadians ought to be the last to talk of silver control. Let's admit it. The only control that does operate fairly satisfactorily is the price-fixing of gold at $20.67 an ounce. But the price doesn't rise in good times to $30 an ounce, or $60. It doesn't skyrocket like wheat, and copper, and other commodities. The gold miner still has to struggle along at a fixed price, The stabilizers of silver would not be content with their fixed price. Anyway, as we have contended, by the time the artificiallsta are getting somewhere, silver in a na- tural manner should have reached the desired higher levels, and without the weakness of a manu- factured situation. Its production has declined markedly this year, through the lessened activity of base metal mining, and, in recent months, the almost complete ell- mination of Mexico, the world's largest silver producer. Output in 40 Years The antjeipated output of 150, 000,000 ozs. this year will be the world's smallest turnout since 1891. And if the high authority responsible for this estimate is correct, then 1933 will see a con- tinued decline. Few straight sil ver mines can operate today; we have hardly any left in Canada. The high grade silver mines of jhe oid Cobalt style are few-and far between, Mixed-metal intnes, CE Established 1884 afety Deposit Boxes For the sum of $300 and up per annum, you can rent a box in our modern Safety Deposit Vault and place therein your Bonds . Stocks, Mortgages Deeds Insurance Policies, Jewellery and other valuables where they will be protected against fire, theft and misplacement. We invite you to call and personally inspect our sate-keeping facilities: CANADA JFAN avn SAVINGS COMPANY 23 Simcoe Street North OSHAWA , Head Office TORONTO ASSETS OVER TWELVE MILLIONS ordinarily 80% of the source, are closing and curtailing on every side. Last year, when output was normal, it is reliably stated that the consumption was 101% of production. There has been no falling off of consumption com- parable with that of output this | year. The film industry, for in- stance, is using {ts usual 30,000,~ 000 ozs. a year. Speculators, such as the rich men of India, the Orient, are being encouraged to buy silver at these cheap prices, just as long-headed and long- sighted speculators, or investors, in the Occident accumulated stocks at the bottom of a market depression. The good old-fashioned law of supply and demand will work {ts effect on the silver market. Ob- serving the tremendous drop in output one cannot but feel that in due course tha nrice of silver will rise prououncedly~--without the well-intentioned but unnec- essary help of the price-fixers, Young Mrs. Nuwedd (holding up a simple thing would cost so much money, would you?" Pre-occupied husband: "I'm not so sure I'd call you such a simple thing, my dear." A youthful offender has been dis- charged because his father had al- ready thrashed him, - A switch in time saves fine, new hat): "You wouldn't think such | RECORD SAVINGS FOR HUMAN RACE London.--Sales of National Sav ings Certificates during the yead ended March 31 last were the high est for any year since 1921-22. Th year's total, with an average of 1, 213,303 per week, amounted to 63, 091,772, This was an increase of 10,467,822 over the previous year, and the casl value of £50,473,418 represented a increase of £8374258, . There was a remarkable decreas in the value of certificates present ed for repayment. The amount re paid, exclusive of interest, was £36, 911,967, which was £8 334,698 les than during the previous year. The estimated total amount due t holders of certificates at March 3 last, including accrued interest, was £493,000,000. Scotland bought 5,362, 824, the cash value being $4.290.2 As in previous years, the schoo associations showed. the larges measure of growth, Satisfactor: progress was also made in th Army, the Central Army Associa: tion now having 227 branches, "So many men marry for money,' she said. "You wouldn't marry md for money, would you, Harry?" *No," said Harry, absently, wouldn't marry you for all money in the world." And he's wondering why he gol his engagement ring back. thd Christma FARES] CANADIAN PACIFIC this Christma: One-way Fare and One Third for Round Trip Leaving December 22nd, 23rd and 24th. Return limit January 4th, 1932. One-way Fare and a Quarter for Round Trip Leaving December 23rd, 24th and 25th, Return limit December 28th. NEW YEAR'S TRIPS Ont way Fare and a Quarter for Round Trip Leaving December 30th, 31st and January Ist. Return limit January 4th, 1932. Reduced Fares to many United States destin- Ask Ticket Agents for f dar hy sale and limits, yeh CANADIAN NATIONAL Reduced Fare LEAVE OSHAWA AM, P.M, 1 4.30 TRAVEL THE KING'S HIGHWAY CHRISTMAS EXCURSIONS "TORONTO $1.30 Round Trip TICKETS GOOD GOING Decomber 24th, 25th, 81st : AND ON DATE OF ISSUE ONLY. (Return Limit 30 Days). Eastern Standard Time and January ist COACHES STOP AT ANY POINT TO PICK UP PASSENGERS. SIGNAL PLAINLY BY HAND TO THE DRIVER. falo, Niagara Falls, London, St. Thomas, son's Peint and in Coach connections at Toronto for Buf Hamilton, Detroit, Sch orl) Tickets ind Information at GRAY COACH LINES Genosha Hotel = OSHAWA Phone 2825 4 f,