AMERICAN ITEMS.

Hokitika Guardian, 17 November 1924, Page 2

AMERICAN ITEMS.

[Reuters Telegrams.] t’OOLTDGE ON EDUCATION. NKW YORK. November LA. Proclaiming from November Lth. t 21th. •‘Ame:icaii Education Week’ President Uoolidge described oducalio as America’s noblest contribution I civilisation. He* said that broad lihert culture was necessary to enable me to think and know how to live. A educated 100 l was a sorry spectacle hut not nearly so dangerous a.s a in* foci. “Wei want neither in Ibis com try,” In* said. “We want the educate In know how to work, and the vie* lu know how to think.’’

CHEAP MONEY. NEW' A'OBK, November 11. Air Elder litis informed the Australian Press Association that shortly after his arrival here, the representatives of several prominent banks, trust companies and bond bouses, visited bint and enquired as to the prospects of making Australian loans. He said that American financial interests tire extremely anxious to enter the Australian market, declaring their willingness to advance large sums to the Federal and Slate Oovcruments and to municipalities and also to private concerns. especially lor the so-called public utilities like gas, electricity, power and trams.

Extreme confidence in Australian

prosperity in the future is and the old feats that the tendency t< wards (iovernment ownership in Am tralitt might endanger the prolitabli ness of investments in Australian pirate undertakings lias completely vat i sited.

The bankers of America declare thal their rates ol interest would Inimitably compare with those of the Londoi market, and this is taken to mean that an Australian loan could be limited it the United States at six per cent ot less.

The National City Bank and the Blair company, the noted bond imdeiwriters, have already despatched representatives to Australia.

NAVAL AF FA IBS. WASHINGTON*. Nov. LL l'he Secretary of the Navy. Air Wilbur. lias tiled bis answer to tbe Shearer suit against tint destruction ol one of America’s super-dread nnughl(cabled Nov. 10th). lie says the British Empire is permitted a larger capital ship tonnage than the United States. The Naval Treaty, be says, allowed tbe latter 327.0:>0 tons, and the British over 340.0!):). The British tonnage was reducible to 11S.1!)!) but not to tbe United States level. Air Wilbur said that the scrapping programme of America is not completed yet. and the U.S.A. warship in question, the superdreadnought “Washington was only 7(1 per cent, completed when work on her wits stopped. She hits cost fifteen ami a quarter million dollars, which latter is reducible by the sale ol material. Mr Wilbur refused to answer so of Shearer's questions, which lie i-liar-ncteriseil its “impertinent" and immaterial.” and he asked lor the dismissal of the suit.

The .Judge in dismissing Shearer’s suit, ruled that Shearer had no legal right as a taxpayer to bring the suit, and the Court had no jurisdiction to prevent a Cabinet official from using discretion under the law.

The Navy Department continues to plait to siitk the Washington by bombs and gunfire.

Aft- Shearer is ap[>en!ing.