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W fk.-.' , ^ f/t T5he C her aw Chronicle - . ' . i.. || ! I .1.. i ' "" " "" ' ' " ?. * Volume 1* CHERAW, CHESTERFIELD COUNTY, S. C.. SEPTEMBER 1, 1915 Number 4S * ' ALLIES MUST M FUNDS P9T B. C. forbes, the Oreat Finan- " cial Expert, Says They May Accomplish This By Tax- c ing Amerioan Secnn- * ties Held in Those h * Countries b .New York, Sei>t 2.-?Europe has c ' he^uu to totter financially. t The United States Is to l>e called u]K)u to do some buttressing. b But the credit of even the strong- t /\ut Pittmnaon nnfl<\tio hno luum G< I iiuiujicau uaiiuun uac ^ over strained that no issue of foreign government bonds, I understand' will now be accepted here. I learn from the highest sources that (Jreat Britain will not be able to borrow here except ou the pledge of American Securities "as collateral, I am told however that hundreds of millions of dollar?, can be had from the leading financVal interests here as soon as arauge meuts can be completed for ydepos'iting the necessary American bonds and stocks. England and 1 "ranee still own probably upward of: $2,000,000,000 of American securiU es. But the ho? ders, knowing that these investments ' are today the best in the world, are not willing to sell. The prot ,iem which the British and also perlr aps the French government must ?oJ re is: 8 How #can the .owners of these Amer- C lean purities be induced either to t' Jem outright or lend them to ' the' j: government r Money Will Be Mobilized. This subject Is excerslng study? " ^ 11 Ad should have done so long before a ) low. 0 ; The heavyweight financiers who are P "eming from England and France to * Is'ew York In a week or two will con- n slder the whole international flnan- c cial situntion. The best opinion here Is that the b allies will find themselves compell- * ed to niobollze their financial re-j^ sources just as they have mohlized A their munition manufacturing resources. e Monitions have l>een mobolized. b "Money will be mobolired, first, prob- J ably, by a tax on American securities Jield In these countries. It looks, after all, as If gold, not a ' steel, will, decide the duration and b the result of the war. * Paul M. Warburg, discussing Euro- 11 pean finances with me several months ago. said: It is the last $500,000,000 that will 1 tell." 1 Every belligerent is approaching the stage of forced loans, but whetn- *' er such desperate action will be taken 2 depends upon the length of the strug- ' gle. As a preliminary and i*?rhaps as a d substitute, it is expected by interest- 1 ed financiers here that England and ' France will seek to corral hundreds 3 of millions of American bonds and 8 stocks by imposing a prohibitive tax on all holders who do not either lend them to the government or market them. 1 I'rgent Action Needed. 11 It would not astonish insiders if gigantic amounts were raised here by 13 the allies on American securities '' The need for action daily becomes more urgent. 0 John Bull, however, moves slowly, 0 fie is floundering as badly over ttnati- ; rial problems as he did over munition problems. But when he does act he is existed to act drastically. Sterling exchange again fell to a new low price yesterday. A i>ound in London could be bought in this conn try yesterday for $4.f>0 The normal worth of a |K)und sterling is fully $4.*6.1-2. English currency, in other weeks has depreciated, as compared with American money, 5 percent. thus gravely injuring it as the standard money for carrying on international commerce. Today the American dollar is standard. Everybody prefers American securities and American dollars, as these are today the most valuable and the most dependable. America has become general provider for the world at large. Two Billion Export Fear. Therefore, the world wants dollars to meet the bills run up here. IOBILIZE TO PAY U. S. Since January 1 we have sent to 'ther countries over 11,000 000,000 forth of merchandise more than we ave bought from them?the export alance on July 31 was $960,000,000 nd the August shipments will easily arry the current year's total above he billion dollar mark. For the full year 1915 export proQise to outvalue imports by nearel wo billions than one billion. English currency, in other words. ias depreciated, 'an compared with American money, 5 per cent. Thus rravelj Injuring it as the standard r.oney foe. carrying on internattoujl ;oramerce. [ England's spectacular shipments of ?old to this country,' although breakng all records, are only a drop In the racket You will be supprised to learn that, leepite the gold-ladcm battleships vhich have mysteriously crossed the Atlantic bringing some $40,000,000 of he metal, America has received comjaratively little more gold than she >grted with last year?not over $35 00,000. Our gold Imports since the present rear opened have totalled $200,000,000 rat our exports of gold outran lm>orts in 1914 by fully $165,000 000,000 ind this year we have exported $10, 00,000, This gold balance of $35,000,000,000 vould not pay for our excess shlpnents of merchandise for 10 days. Danger of Too Much Gold. Our July exports were $125 000,000 ,bove our imports, and we are only ntering the season of heaviest exorts. This year the normally large sport balance will, of course, be enormously swelled by shipments of ostly war materials. All the gold in the Bank of Engind ($335,000,000) and the Bank of 'ranee ($850,000 000) would not pay imerica'8 total export balance for the rst nine months of this year! Leading American bankers are not nthuslastlc over the receipt of trainDads of gold from Europe. One said Vsterday. "Gold is sorely needed in Europe a basis for the mass of credits float. It is not needed here, for our anks are already clogged with reerves. Too much gold may prove langerous." True. But between too much Euro ean indebtedness and too much gold, he layman, at least, would choose he gold. Yet, if America wishes to continue o sell. Bhe must stand ready to failitate payment. The plan here outined?Loans based on sound Amerian securities deposited with the leners?embodies a minimum of risk nd a maximum of effectiveness. Unecured European governmental loans re no longer regarded as strictly ilt-edged. Press. During the hearing of a lawsuit, he judge reproved a man for making mnecessary noise. "Your Honor,'1 was the reply, I ave lost my overcoat, and l am lookng about to find it." "Well, sir," said the Judge "people ilCll IUOc WUOIC DU11S Ut*X t' ? HUUUl laking bo much disturbance as that." YOUR C Have your cotton an and reliable companies loss. ' ' " We insure property o with us anc} investigate o MAYNARDPhone 84 A. -? TW TO ENFORCE LAW WHATEVER IT IS - if ,< . Chief Executive Approved Aet Providing for Referendum Election on September 14. ~v, +') Gov. Mailing will not take a hand in the contest that is now going a between the prohibitionist* and tfcq "Local Option I/eagne of Month Carolina." "Will you supi>ort either factiopT^' was the question put to GoveriioW Manning. ' xjm "I huve no statement to mak^ * came the reply. I.ast year Gov. Mailing was elected on a law enforcement (platform - ? ..tnto/l that 4m H1H1 HP lias rejiPaieuij owku wov ?rwould do his utmost to enforce ev?i law put upon the statue booka. 'i'*" The act providing for tb?( pmhiHk tion election to t>e held Sep^BliJ^g 14 was passed at the last seHbion if the legislature and approved by dm governor. ^ u If the prohibitionists win, the* Got. Manning will use his every effita to enforce prohibition. If the isrtql! Deposit The Baiij Cher# STRONGER THAN ALL Of A / 0 irTsavMV ' * 1 -4? fails, then he will continue his campaign for law enforcement Gov. Manning has always favored the lo<al option form of government. Some South Carolinas known as local opttonixts declare that the "South Carolina Local Option league" does not represent the principles or the ikjMc.v of local option In this State. ?Columbia Record. HOW GEESE ARE BOOTEB TO WALK TO MARKETS I'etrograd, Sept 3.?Vilna, the Russian city whWi has figured extensively in the operations of the retreating armies from the Warsaw district, is probably the only place in the world where geese are shod. The Vilna district is celebrated for producing geese, which are sold by thousands m distant markets. In normal -times great flocks are driven by the goose-herds to the famous goose fuir or market at Warsaw, 200 miles distant. To prevent the birds getting footsore on the long journey, they are ide during the late autumn lb walk through tar, and then through tin sand. The geese are thus provided ith a perfect fitting pair of boots, In which they can comfortably muke the long tramp to market. ;OTTON INSUR. d other property insure ; You get fair and promp . .... i f every description and a ur companies before pla IVH APPRECIATE VOI R BUSINESS RALEY REALTY & Tf . . , i . GERMANY OFFERING PLEAS IN DEFENSE t The German government In a note to the: Tatted States has acknowledged tJuit the White Star line steamer AharaMe w&?? sunk by a Gorman subt 'tk marine. \Tbe note, however, declares that sblf-dqfeiise was the motive of the comaoder of the underwater boat Regret is expressed that American lives were lost in the disaster and the offer 1s nrade to submit questions of reparation and comj>eiwation to The Hague. The Arabic met her doom south-, east of Hastnet, August 1, with the loss of lives, among them two Americans. The eontmander of the German underwater boat responsible for the disaster hii^madef a bbeiaved return to his base Apt?repot-ted. lit extenuation of his riRfetthe ormmander declares that while the submarine was sinking a freighter, .the. Arabic swung nround and headed toward Che scene as If to attack the ijrtthmarioe and that be fired In self-de\ ; \ tzr money .in f m or v^neraw { > / N, s. c. BANKS IN COUJTY COMBINED MM** i'H- , ' I , ? ( ruded quarterly gs department.^. The Joke an Mr. Chappell The joke Is on John Henry ChapI?ell of Newlierry county. He is a proniiHonisc; nut m order <0 Keep from votlnjtlfor ^prohibition, which, he soys he will <1?, he hires two lawj^ora to enjoin himself from so doing; but the lawyers fall down an the job, and mow he must vote according to his preference and the chltates of his cosicience. This Is 0 precariouse condition for a man from Newt>erry.?Abbeville Preas and Banner. The action of that Atlanta mob in threatening the life of Governor 81a-. ton l>ecause he saw fit to commute the death sentence of Leo Frank, will Ih? convincing evidence in the minds of many jxjople that the jury that tried Frank was Intimidated. There Is doubt as to the man's guilt, and until that doubt is removed the State of Georgia had no right to execute him. The negro Conley's utory convicted Frank and yet this story does not coincide with the known facts in the case. ??.. . ?. * DR. 0. H. rURVIS * Physician and Surgeon * Hotel Covington Building * Phones Office 243 Residenre 244 .* A "V T d in one of our strong t adjustments in case of u i / / t any location; Figure cing your insurance. > , i / /;. ,? - '* (LIST CO. ' } f " T-f |J; *8 ' i Cheraw, S. C. jCocal and $ Mr. and Mr*. F. M. Brlckman and little son, Fred, and air. Harry Vickman of Georgetown, si>ent Sunday uml Monday iu the eity. Just folf \Vholesome Goodness sake Try Stone's "Sunbeam" Cake?Beatthose Mother used to make. 10 cents at E. J. Waddlll's. Adv. Mr. Andrew Barefoot, of Charloite. X. C., siKiiit last Sunday in the <-it.% with friends. Ml Mr. J. S. Bishop, who has lieen li Xewburn, N. C., for several months, has returned. mwm W. J. Bethea, of McColl, spent Sunday in the city with his family. Mrs. M. W. Wright and son, Edward, who have lieen visiting relatives In Columbia, have returned. Messrs. Wilson Coward, Frank Wilson^ and Clyde Coward, spent Sunday In Wadeslioro, N. C. Ml Mr. Frank Moore, spent last Friday In Wadesboro, N. C., *? Mr. Roan Low, and Brown Huntley spent Sunday in the city. Stone's Wrapped Cakes are surely i.loe (? {"Golden Sunbeam'?"Silver Sliced" Can't lie beat at any price. 10 cents at E. J. WaddlU's. Adv CI6I The Merchants and Fanners' banl has applied to the secretary of stati for a decrease in capital from $12o.00( to $100,000. \ I . ..- .-? _ i Miss Sarah Lilly Iioekery. <<f Tt.'ck 'iigham, X. ('. is the guest of her sis ter, Mrs. ('. K. Waddlll. I)r. and Mrs. A. A. McManus ami hlldren, of McBee. are the guests ol Mrs. J. W. Maynard. ** Mr. It. L. Walker, formerly proprictoi >f the Ranard Hotel baiber shop, ha.' motfed to Charleston. Splvey, sanitary Inspector, says 'hcj never In nil his days, saw such clean lug up about the premises occupied by negroes. One of the requirements for license "Is that quarters ocupied by servants be In sanitary condition, and that has made every day since then a clean up day with those who want to take in washing,n cook, or nurse. Another Instance of how much this ordinance will be worth to the town. The other day a colored woman died of tuberculosis and she had nursed for a family here up to a few day before her death. Awo Instances like that have been noticed lately. Tinder the present \rsonai Tfews. Messrs. Hunter rage, Claude Sherrlll i uid Chan Page left yesterday to enter >)ak Ridge Institute. / Mr. II. J. Sellers of Ruby, Is a vlslof in the city to day. The People's Trust company of Che n\v has been cbartedfl with a capital of 1/5,000. The officers arc: H. M. Dutll, president; J. C. Tec ?*' , vice presdent, and J. H. Wannamaker, secreary and treasurer. M % Messrs. Theodore and Hunter McArn, Roliert Thrower and Louis Page have returned to Clemson. Vy a Stop 's "Pj-e Butter Cake," Beats those Mother used to make, Costs less than the ones you bake. 10 cents at E. J. Waddlll's. Adv. i Mrs. P. A. Murray, Jr., gave a linen ^uunci x uriMjaj anti nwii 111 uvuy? v? the bride to be, Mix* Nan Evans. Miss Katie Harrell entertained last Friday in honor or the bride to be, Miss Nan Evans. Mr. and Mrs. Harper Mcintosh and little daughter Margaret, of Durham, N. . C., are visiting relatives in the city* Ml Miss Bessie McLean, of Sumter, 8. r C., visiting relatives in the city. Miss Dorrls Hartzell leaves tomorrow . to resume her studies at Winthrop Miss Dorris graduates this session. ' ; i Hon. and Mrs. W. P. Pollock and ) Misses Laurie Harrall and Hattle Godfrey spent Sunday last in Wadesboro, ^ ^M Rev. .T. K. Goode is s]iending somefinie in Virginia. I Mrs. Albert James and little daugh \ f ter. of Darlington, are the guests of ' Mrs. F. B. Pegues. 0 Mrs. Bailey and little daughter, of i Georgetown, S. C., are the guests of Mrs. Bailey's aunt, Mrs. W. R. Godfrey. ?* n Tlmmaa a# XT Hli^? ^-icui xiiuuia^t *?i ^amviut C., is visiting relatives in town. 000 ?? Little Miss Margaret McGregor, of Columbia. S. C., is visiting her grandmother, Mrs. Margaret Wells. Ml Mrs. Hodges, of Jacksonville, Fla, Is visiting her mother, Mrs. W. D. Evans. Mrs. Maggie Mcintosh has returned from Wrightsville, N. C., where she spent several days. 000 Mr. Walter Mcintosh, who was employed at Big Springs during the summer season, has returned and Is now with the Chesterfield Grocery Co. Ml Rev. A. S. Thomav and family, who "summered" at Saluda, N. C., have returned. IS HAVING GOOD EFFECT. Lumberton's Ordinance Requiring License for Cooks and Nurses. The Lumbertcin Tribune says: Lumberton's ordinance tequiring cooks, nurses and washerwomen fto secure license has already had trenimwi.niciv "nnil pffwf ivfr_ Arch lnw that would nor Happen. Ann lr tin* ordinance did nothing more than save one child fnno being unrsed by an unfortunate victim of tubereulo sis it would ue mure mau wurui while. ? ? Mrs. Terrell Covington, of Wades l)oro. N. (7.. Is visiting her sister, Mrs. Margaret Wells. ?** Miss Mary Fannie I/we, of Wadeshoro, N. C., is the guest of Miss Nora Stubhfl. Ml Master Reid Powe, who lias Ikhmi spending sometime in Morven, N. C., has returned. , Mrs. Eugene Wilson and little son are visiting relatives in Lancaster, S. C. ** Messrs. R. N. Strtoklin and Walter Mcintosh spent Sunday near Rockingham, X. C. ?* Mrs. H. M. Duvall and little son have returned from Saluda, where they spent several weeks. Cheraw's future depends more largely on a good produce market now than almost any other one tiling, except possibly manufacturing entrprhes The town is situated in and dependent ujton an agricultural section and yel affords an adequate market for only one agricultural product, namely, "otton. Kven when cotton is selling at a fancy price, a cotton market | amounts to little except for a few months in the year. Local dealers pay enough for what produce the frown consumes, but there is no market for the surplus raised in the county, and this surplus is growing larger every Inyr Thousands of dollars worth of chickens, eggs. hams. beef, vegetables are turned away and are sold in other (daces and ship]ied to foreign murkets. This should not be so and a live Hoard of Trade should offer some encouragement to a dealer who would build tip a shipping business in this line. The town is losing a great amount of trade because of this deficiency and some thing should be done to remedy it. Subscribe to the Chronicle only .fl a year.