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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - September 14, 1918, Lethbridge, Alberta SATURDAY, SEPTEMBER 14, IVHR PAGJi JVhVE WEALTH THAT COUNTS (Monetary Times). It WHS:, Mr. Frank Vanflerllp, - president of the National City Hank of New York, and poriiapH tho. ablest financier at present ElvJng ills services to tiio Amorican goverunient, wlio remarked,ft little over a year ago that the United States was "a nation oC economic illiterates." So far as the statement is true, It must also be applied to Oanadn. This continent is tar behlnrl the United Kingdom, Fcance and Oermiiny in its nnderstandtng and discussion of econonilc problems. As elsewhere, liowover, the war has provoked a revolution in this direction, as the vastly increased Jnterost In husiness and flnanc6 lndiuate.e tiirning of lliis wasted effort to the actual production of wealth. It is as easy to create solid and permanent prosperity by pyramiding speculative Value.? as it is to rise from purgatory to paradise by tugging at one's bootstrap.s. Paper wealth is not real wealth. Unfortunately, .yi^re . is a tendency In the pralHfe vljtAvlnces today to carry on this process in farm lands. The price of land has advanced rapidly, and present owners who sell stand to gain. It must not be forgotten, hoivever, that high-priced, land raises tiie cost of production; and that for years to come the burden of interest on speculative values must function as a cost in placing the products of the land upon the market. Those who secure land on this speculative basis will lose in two ways; First, by the enhanced cost of production; and second, by the decline in prices that is expected to come in tine course afier the war. From the national point of view, speculation in farm lands carries with it a double menace to the country: It diverts attett' tion from productive effort and con centrates it upon the speculative interest; and it tends to break up community life. There Is nothing worse for a farming community, either from the point of,view ot its social or ot economic development, Uian to have a successoln of occupiers of the same land. Canada's Progress During the Past Fewf Years. The Increase in Canada's national wealth, therefore, may' have come from one or other of the following sources: An actual increase in the output of goods; a saving of capital; a better utilization and organization Of wealth; an increase In the output of gold or of paper money; changed capitalization based upon higher interest rates; or from legal or natural monopolies. It is clear, from what has been said, that not all of these factors have brought about a real or permanent increase of wealth. Insofar as the nation has perfected its Industrial organization, has turned out materia) goods, has eliminated labor waste, has more efficiently cot ordlnated labor and capital, material and valuable progress has been made. And it must he said that great strides have been taken in that direction. The war has inflicted untold misery and suffering, and has Unposeti inconceivable sacrifices upon the Canadian people. But the war has also taught us much, and brought us much, that otherwise would not have been secured. It has taught us the great lesson of thrift, for notwithstanding certain Instances of conspicuous expenditure aqd extravagance, the people as a whole have learned something of the benefits of saving. It has made us intolerant of idle labor and waste, and has thrown new light upon tho problem ot unemployment. And, in spite of superficial disagreeemnts between labor and capital, it is probable that both thes^ great and essential forces in oiji' life are being brought into a harmony never before known. Labor Is. learning the lesson of efficiency, and the meaning of loyalty to the business whence It derives Its income; and employers are making real oftortH'to muke labor worth 'hmre, uot only to tlienjselves, but to the worker as well. And above all, Canada ha^ learned tlie hard but extremely valuable' 4o3SOu that true prosperity is to be found only in productive effort, and .not in the more manipulation ofispefcuiative values. A FAREWELL TO fFrom Our Own C(,iT03T)onc3.^nt) Coahurst, Sept. 12.-A tarowel) reception to Mr. Van Katou wiiii held in the Union church last week. A purse of gold subscribed for by the ladles aid and members of thi; church' was presented to the gentlen'.an, and he was the recipient of the best wishec of all willi wbom he had come In contact. Mr. Van ICaton will rinifli his graduating course in thcnlogy at Princeton, and It is hoped that we may be favored by his prcHcncc at some future date. Diamond City Lodge I.O.O.F. were visitors to the Coalhurst OddtoUows on Tuesday last, ajid put on tlio Initiatory degree. Barons I.O.O.F. arc to be visitors next Tue.sday and will put on the First degree. .-Ml visiting brothers, are assured of a welcome from the' local lodge. Considerable difficulty was experienced by .visitors to Lethbridge on Saturday evening. The sudden fall of rain made the roads almost imj)a.s-Hlble. One unfortunate auto owner was .stranded between hero and Loth-bridge and spent the night and part of tho next way walling tor the relief party to tow him in. There ba.s bt.nm !|uitc a flutter In real estate wliich speaks well for the prosperity of tlie place. .Mrs. Volncy has puroha.sed the ])roperty of .Mr. Singotta, and other IransterH have been made. CoiiRiderablo Improvement in tlie appearance of tho company houses is being caused by the application of a coat of paint, and iu'additlon conslder-;tblo fencing is being put up, ensuring privacy for the tenants, and improving tho surroundings. Some very fair crops ot potatoes are being gathered, and aro heiuK used to combnt the high cost ot living. Mrs. J. If. Turner is in Calgary visiting friends, Mr.. Mrs. and Miss Mclnnis have ro-t;urned from Calgary where tliey spent the holiday. Tbe trip was made by auto, and 'the roads were reported in excellent shape. Mrs. I). .MacNeil is in the Bast with friends, and hopes to return next week. A very successful dance v/as given in tlie Box theatre Wednesday evening. The Lethbridge dance orchestra supplied the music which was voted to be of an excellent quality. Quite a few visitors from Lethbridge and the surrounding coutitry were enter- tained, and a very pleasant evening was spent. The ba.seball club have I'inishcd their out of town ii'iatchcs, and have I had ((uitii a successful season scoring vit^turiea over Rarons, NoblBtord and I Ijothbrlds''.. A movement Is on foot ; !i) liini tlil.'ou do not need, you interfere with Canada's war -vvork. Every dollar you spend on go6ds not strictly necessary, is a dollar-not merely wasted -but used to employ labor on things that have nothing to do with our efforts to win the fight for freedom. Too many of us, in Canada, are flying the "luxury kite." Too much of the time of Canadian workmen is being purchased by us to make the things that are for show and pleasure. Too great a qUarlr tity of material that our soldiers could effectively use against the foe, goes into the making of'superfluous things for us, whom they are so valiantly defending. Stop the reckless spending. Stop acting like children. This war we are fighting calls for men and the brains of men. If you cannot fight-at least do not interrupt the war-work by buying the things you, merely want and do not need. The money you have been spending wastefully-with no result but to divert labor from w^ar-e.ssentiaLs-will rnqke a Avorth-while sum. Use that money to build up a fund, that you can lend your Country, when your Country calls. Publinbed tinder the authority H the Minister of Finance of Canada. EMPLOY OUR QUICK RELIABLE SERVICE OUR BIG FURNITURE VAN AND AUTO VAN INSURES CAREFUL HANPLIIMQ WITH NO JARRING OB SCRATCHING YOUR PIANO OR FURNITURE, CHARGES FtEASON^BLE. THE McLEAN TRANSFER "%To.\�r ^ ) .:| ;