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Golden Hours for Children

NIVE them a healthy, vig

GIV

orous incentive to absorb the foundation ideas in science, literature, history and sport, now, while they are young. Develop their initiative and originality. Increase their possibilities for the years that are to come. Do this with St. Nicholas.

St. Nicholas has been a most important factor in children's lives for years. Its clean, healthy stories, its vivid articles on history, its interesting accounts of science, hold and train youthful minds. Contests in writing, photography and other subjects supply a stimulus for the development of resource and originality.

There is no other children's publication that exerts such a dominating influence on their development as St. Nicholas. It is a guide, a companion, a tutor a specialist in child culture. Do not deny it to your children.

One year's subscription is only $4-half what you pay for your morning paper. Send check or money order to St. Nicholas Subscription Department, N-22, 353 Fourth Avenue, New York.

ST NICHOLAS for Boys and Girls

Benefits
Traced

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Who'll Win the

Money Awards

Let us follow up the become of the money.

L

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IFE INSURANCE has become an Institution. It is performing a great service. But how many of us have really noted the benefits conferred by it in our own communities? We accept life insurance quite as we accept the public school and the church. Yes, such institutions are benefiting the public to a wonderful degree; but who can say as to A, B, C, how he has been benefited? The influence of the church and the school are rather intangible. Life insurance speaks with the dollar-mark, and its trail can be traced.

proceeds of an insurance policy and see what has

There is Dora Briggs, for instance, who was the recipient of $5,000 from her father. How has she used the money? How has she been benefited? There is Albert Southwick. He was left $10,000 by his uncle. What use has he made of the money? Has he been benefited? By its result you can tell. The Postal Life Insurance Company has asked to have made known to it instances of specific benefits performed by life-insurance money. We want our policyholders to locate the instances and write statements about them.

The ten instances judged (a) to be the best and (b) told best in 800 words, or less, will entitle the writers to money awards, graded for the points of excellence from $5.00 to $50.00. These awards are open only to the class of 1922 (those holding policies dated in the present year), including those who will take out policies between now and January 1, 1923.

How such money saved the family from distress, due to the loss of the breadwinner, should be shown. How the child was educated, and what happened to him in later life, should be most interesting. How a widow in her later years was saved from penury and was enabled to help others ought to make a fine story. How debts have been paid, and valuable property, and perhaps a business, saved from bankruptcy proceedings, would contrast with the unprotected business and the foreclosure that might have followed. Important details should be given.

The judges will be selected from among our own official staff.
All manuscripts must be in hand by January 1, 1923.

Applicants for new insurance should furnish the
Company (a) full name, (b) age and (c) occupation.

POSTAL LIFE INSURANCE COMPANY

WM. R. MALONE, President

Educational Department

511 Fifth Avenue (cor. 43d St.), New York.

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Teaching without words

LOVELY CHILDREN! What a struggle it seems, sometimes, to keep them so!

Yet mothers can give them a momentous start toward cleanliness and beauty-merely by suggestion and example.

•We know one understanding. mother who teaches cleanliness by this simple plan:

She talks about how good it makes her feel to be clean. She leaves her own cake of Ivory Soap where the children can easily reach it. And she leaves other cakes wherever they wash.

This mother knows how quick

youngsters are to imitate, and she finds that these cakes of Ivory do their gentle, but thorough, cleansing with hardly a word from her to the children.

Ivory is the nicest soap you can imagine for your children and for you. It cleans safely-that is what all soaps should do. And while it is cleaning, you experience with Ivory all the delightfulness of the seven most desirable qualities of fine soap-purity, mildness, whiteness, fragrance, rich lather, rinsing promptness, and "It Floats."

With all seven of these desirable qualities, Ivory is naturally the favorite soap of most mothers.

Ivory Soap comes in a convenient size and form for every purpose

IVORY SOAP

99% PURE IT FLOATS

1831

Copyright 1922, by The Procter & Gamble Co., Cincinnati

VORY

IVORY

2017

FLAKES

Medium Cake

For toilet, bath, nursery. shampoo, fine laundry. Can be divided in two for individual toilet use.

Large Cake

Especially for laundry use. Also preferred by many for the bath.

Ivory Soap Flakes Especially for the washbowl washing of delicate garments. Sample package free on request to Division 24 J, Dept. of Home Economics, The Procter & Gamble Co., Cincinnati, Ohio.

IVORY

ROCTER

The Outlook

MASTERS OF THE AIR

I

N American aeronautical circles the year 1922 will always be known as the renascent year of aviation. For, with the winning of the world's speed records at Detroit, Saturday, October 14, America's leadership in the science of aeronautics and the art of flying is unquestioned. We now hold the endurance, altitude, and speed records for heavier-than-air machines, and these records were made by American pilots in American-built machines designed throughout by Americans.

It had been expected in Army and Navy aviation circles that the Pulitzer speed race at the National airplane meet at Detroit would bring home to the United States the international speed bacon. Lieutenant R. L. Maughan, of the Army Air Service, in his Curtiss army racer lived up to those expectations when he flew over a closed course of 155.34 miles at the rate of nearly three and one-half miles a minute! Maughan's average speed for the entire distance was 206 miles an hour. As a close second to this performance came Lieutenant L. J. Maitland, also of the Army, who drove his Curtiss racer over the same course at an average speed of 203 miles an hour. During some of the laps of his flight Maitland made better time than Maughan; for 50 kilometers he flew at a rate of 216.1 miles an hour and for 100 kilometers at 207.3 miles an hour.

Both of these fliers beat the 100kilometer record of Le Cointe, famous French pilot, whose average speed last September was 202 miles an hour. They also beat the record of Kirsch, another Frenchman, who flew 200 kilometers in October, 1921, at an average speed of 174.8 miles an hour. Five other contestants at Detroit also beat this last record. Thus three world's records fell before American brains, skill, and endurance. And of the eleven pilots who finished in this race, none made less than 149.3 miles an hour average speed. Watching this race were two middleaged men: one, Orville Wright, the father of heavier-than-air flight, who on December 17, 1903, with his brother Wilbur gave aviation to the world; the other, Glenn H. Curtiss, foremost aeronautical engineer in the world to-day, who designed and built the successful

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event took place which is of tremendous import to the growth of commercial aviation in this country. An American Aeronautical Association was formed, which is Nation-wide in its scope, and which begins its life of usefulness with a tremendous membership. Men and women from all walks of life are enrolled in this great movement for the establishment of commercial aviation on a grand scale in America. For, after all, the real mission of aviation in this world is commercial. Were it for military and naval purposes only, it would have been ten thousand times ten thousand times

better for the world had flying remained an unknown art.

This year's results in aeronautical effort, then, reaching a climax at Detroit, may be said to be the dawn of a new era in American aviation. We have reached the highest development in planes, engines, and equipment; we have produced the world's most skillful pilots; we have laid the foundation for public support of commercial aviation through the medium of a Nation-wide union of enthusiasts and practical, experienced airmen.

One thing remains to be done to place commercial aviation before the Nation as a useful adjunct to present methods of transportation; we must have Congressional laws for regulating and fostering its establishment-laws which will safeguard the public, which will do away with recklessness, which will prohibit dangerous equipment, which will provide air navigational facilities similar to shipping facilities, and which will permit the most complete co-operation between private and public aeronautical enterprises. The enactment of the Wadsworth-Hicks Bill for a Bureau of Aeronautics in the Department of Commerce, a bill now before Congress, will bring about this desirable condition of affairs in American commercial aviation.

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SECRETARY HOOVER'S
OPPOSITION TO THE
CANCELLATION OF DEBTS

ANKERS, who are supposed to know a great deal about finance and ought to know a good deal about economics, have been represented lately as being disposed toward canceling all, or at least a large part, of the debts which European countries owe us. So we may judge from their chief spokesmen. The impression, for example, given by the recent Convention of the American Bankers' Association as reported by Stephen Bell in last week's Outlook is that the most influential bankers regard the payment of these debts as practically impossible.

Flatly opposed to any such conclusion is, however, the American who has earned the reputation of knowing more about international economic relations than any other American and much as any other man in t1 Herbert Hoover, Secretary of

has explicitly stated that those debts (except for a negligible five per cent) can and should be paid.

He

As may well be imagined, Mr. Hoover rests the duty of payment, not upon a merely selfish consideration of American interests, but on a consideration of world stability and confidence. points out that the economic problems of the world should "not be obscured by fluctuation in exchange or by calculation of trade balances in terms of war and depression." Many commentators on these economic conditions cannot see the woods for the trees; Mr. Hoover certainly has better vision than they have.

He points out, too, that these debts are not so much debts to our Government as debts to our taxpayers, and that the repudiation of them "would undermine the whole fabric of international good faith." He declares that the annual payments would vary in their burden upon the various debtor countries "from. two to twelve per cent of their governmental incomes." Naturally, the American taxpayer regards other things as of more importance for stability than the repudiation of that amount of debtand among them the reduction of armaments, the balancing of budgets, and the cessation of inflation. In comparison with the waste and destruction of armaments, extravagance, and inflation, the burden of the loans due to us is, says Mr. Hoover, trivial.

In detail he meets the argument that the payment of these balances means shipments of either goods or gold, that these shipments would have to be direct to us, that they would embarrass our industries, that they would depend upon the ability of a country to produce a surplus for export, and that present trade balances are an indication of future paying power. All these assumptions he examines and finds faulty. For instance, sources of money supply from which European countries can draw for paying their debts are to be found in the amounts spent by American tourists abroad, the remittances of emigrants, the investments abroad, etc., amounting in all to three times the interest on the debts. Moreover, even in payment of goods, shipments need not be direct: they may consist in shipments of manufactured goods to tropical countries and then shipments to us of tropical products which we need. Before the war the rest of the world owed Europe over thirty billion dollars, and that debt was borne without a ripple. The creditor situation has been shifted, but only partly.

Mr. Hoover rightly concludes that we should have more experience with economic forces before we jump to the idea

that there is any necessity for putting irretrievable burdens upon the American taxpayer by canceling the debts.

THE PRESIDENT'S COMMENDATION OF CONGRESS reference to the ap

Wproaching election, and without

even a hint of partisan appeal, but evidently in recognition of the fact that as the election approaches the people of the country have a right to expect an account of stewardship from the party in power, the President has reviewed the work of Congress for the past two years and has called it good. Though he has addressed himself to the majority leader in the House of Representatives, he obviously intends his informal report for the whole people.

No one can expect, much less require, the President to emphasize the faults and shortcomings of a Congress in which his party has control. There is no reference, for example, in the President's letter to the passage of the Bonus Bill, which the President vetoed. Nor is there any suggestion of the tendency, discernible even in his own party, to the formation of such a group as the farm bloc, which the President has openly deplored. Naturally, too, the schedules of the Tariff Act which have been under attack are not mentioned even for the purpose of defense, as it is too soon to forget the effect of President Taft's approval of Schedule K.

On the other hand, President Harding's commendation is not emotional or excessive. The contrast which he draws between the record of reconstruction after the Civil War and that after the World War is striking and true. Certainly the convulsions of the early period of which President Harding reminds his readers-"the impeachment of one President, an embittered National election contest, and a prevalent conflict between legislative and executive branches"-have been conspicuously absent during these recent months. Similarly, his comparison of our own experience with other nations after the World War is fair and reasonable, and should lead to confidence in our own Government apart from party considerations.

Though it may be said that the reductions which we made in our expenditures, particularly for military purposes, which the President cites were made much more safely than they could have been if we had such close neighbors as France or Britain has, nevertheless the record is commendable. A reduction of annual public expenditures of over three billions in two years is one for which Congress should have credit-and all

the more credit because it is in part the result of a budget system created by Congressional enactment.

The feature of the tariff which the President selects for special praise is its provision for administrative adjustment that makes the tariff flexible and adapted to changing conditions.

Many people who are concerned with our apparent isolation from our former Allies will welcome the President's statement that

The last thing in our thoughts is aloofness from the rest of the world. We wish to be helpful, neighborly. useful. To protect ourselves first and then to use the strength accruing through that policy for the general welfare of mankind is our sincere purpose.

There will be by no means unanimous assent to the approval which the President gives for the extent of the provision which has been made for disabled veterans; and there are signs that people in certain regions of our country are by no means satisfied with the agricultural advancement which the President cites; but on the whole the President is not without justification in expressing gratification at the progress made toward normal conditions. Certainly as a measure of economic health it would be hard to find anything better than the advancing value of Liberty Bonds. After all, that tells pretty well of the confidence which the people of the country have in the soundness of their Government.

T Harding's

THE FEDERAL COAL COMMISSION HE country will welcome President appointment of the United States Coal Commission. The Commission proposed has been pretty generally called a Fact-Finding Commission; it will be also, we hope, a factselecting commission. There has been a vast amount of statistics, averages, and the like put forth by the leaders of both sides of the recent coal war. What most of us would like to see would be an intelligent and wise selection and presentation of those things that are of vital importance-the things that will aid the consumer to get fair treatment from the industry, the operator to carry on his business with some security, and the working miner to have steady employment for reasonable hours at a fair wage.

There has been nothing but approval, so far as we have observed, at the list of seven names in the President's Commission. Its chairman is John Hays Hammond, who has no superior as a mining engineer and is thoroughly acquainted with the practical as well as the financial aspects of mining; the

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