The Lancaster news. (Lancaster, S.C.) 1905-current, August 01, 1913, Page 8, Image 8
CIT1ZI
BEGS TO
CING ON .
WE WILL
With the i
are now relievec
In addition
holders which v
The Books
some day you w
of to build a ho
The payme
Thp
a a *
CHAS. D. JONES, Pr?
TO HELP SOUTH AND WEST S
k
TO AID MOVEMENT OF CROPS.
To Deposit Near $50,000,000 of P
? * of Government Funds in
National Banks. j,
Washington, July 31.?Twenty- ^'
five to fifty million dollars of govern- c'
xnent funds will be deposited in the J"1
national banks of the South and J1.
West at once by Secretary McAdoo
to facilitate the movement of crops. I
Federal, state and munlelnnl hnmio'e
and prime commercial pa>er will be "
accepted a* security for the money,
upoi. which the banks will pay two ^
per cent interest.
The motive of Secretary McAdoo J"
in establishing this new policy Is to
anticipate the money stringency in 1
the late summer and fall, which in- ci
variably accompanies the marketing r<
and movement of crops, especially Pj
when the crops are unusually large, o1
as the harvest now beginning fore- C(
casts. He intends to take time by
the forelock and prevent or minimize e<
the usual tightness of money. i
In a statement today the secretary ?!
made the significant answer that
government bonds would be accept- y(
ed at par as security for the new de- m
posits and that the additional money 10
would be placed only with banks
which have taken out at least 4 0
per cent of their authorized circula- 9f
i tion. Icr
HELP RESTORE PARITY.
TTnlf pfl Q n t r.H tmn 1
? v?VVU VTTV/ iClll UUUUb, I
serving as security for most of the
* national bank circulation, have been ta
depressed recently to new low mar- ^
ket records, dropping to 95% dur- j(j
> ing the past few days. The secre- ti|
tary's willingness to accept these i
bonds at par as security for the 25 ed
to 50 millions of promised deposits (lr
and the inducement to the national wj
( banks to increase their circulation up q^
\ to the 40 per cent limit is expected ,
to help in restoring the parity of the no
depressed 2s, by creating a new mar- _f
ket for them. gt
, . , , j?0r the .first time in history the
government Trill acct pt prime com
merclal paper as Security for depos- .
its. This privilege \?'fll be granted,'J
announced the secretary, In order to ,
make these special deposits avail- ah
able to the banks on securities read- Cr<
ily within their reach. |
"The commercial paper submit- i
ted," added Mr. McAdoo, "shall first,
be passed upon and approved by the |
( tearing hous committees of the pll
(ities in which the banks offering sci
such ?oaper may be located. All com- j lm
inercwl paper and bonds must final- | Ch
ly be passed upon and accepted by j "II
the secretary." ' th<
Approved commercial paper will ft
ry accepted as security for the de- j foi
posits at 66 per cent of Its face value, Pb
and hiffb class state, municipal and Coi
* j ^ 4Ji^
J
ENSBU
ANNOUNCE'
A TTnTTijrr l ?
tiu U U O L 1SI,
BEGIN PAY
naturity of this Ser
i of the great strug
i to the happy hoir
v\W be put in circul
; of Subscription tc
/ill thank us for in\
j ^1 j
me, anu 10 uiose a
:nts are monthly ar
Citizens
rsidcnt
ther bonds, exclusive of governmen
onds, at 75 per cent of their mar
:et value.
ADDITIONAL DEPOSITS.
The additional deposts will b
laced with the national banks in th
wo or three principal cities in eacl
f the states where harvestng nov
5 in progress and where the demam
sr money for moving the crops mos
onveniently can be met. The sec
ptary said it would not be practlca
le to scatter the deposits in view o
(le character of securities necessary
The banks will be required to re
irn the money to the public treas
ry when the crops have been moved
he present suggestion Mr. McAdo<
lid. is that 15 per cent be repaid lr
ecember, 30 per cent in July, 3(
er cent in February and 25 per ceni
i March next.
"Steps are now being taken tc
irry out the plan," added the see
?tary, "so that the funds may h<
romptly available for the movement
f crops." Names of banks to re?lve
the deposits and other details
f the arrangement will be announc1
later.
THhis new policy is the antithesif
mm auupieu ny lorraor secretary
' the Treasury MacVeagh, who a
>ar ago declined to make goveraent
deposits to relieve teh tight
on^y market on the ground that the
oderate surplus of federal funds at
iat time should be held as a re>rve
to be utilized at some possible
Itical stage.
BALANCE OF FUND.
With the net balance in the gc&al
fund today amounting to nearly
132.000,000, Secretary McAdoo has
ken the stand that the government
lould anticipate the situation by
acing deposits wheTe and at the
one they are needed.
If the full $60,000,000 is depositI
a
i inip ni.c|j win temporarily almost
>uble the government's deposits
1th the banks which now hold $58,10,000
of federal funds.
Just as Secretary McAdoo was an'uncing
his plan Senator Tillman
South Carolina was issuing a
itement declaring that unless Coness
acted quickly to provide an
lergency currency, the cotton
enters of the South would lose a
indred million dollars through lntlity
to get money to move their
aps.
The Best Pain Killer.
Bucklen's Arnica Salve vhen aped
to a cut, bruise, sprain, burn or
lid, or other Injury of thp skin will
mediately remove all pain. E. E.
amberlain of Clinton, Me., says:
t tods cuts and other Injuries of
?lr terrors. As a healing remedy
equal don't exist." Will do good
you. Only 26e at Lancaster
armacy and the Standard Drug
mpany.
THE LANCASTER,
ILDINGj
n i 4 rn * i *
111AL ?fiKlKS
1913, AFTER
ING TO SHAR
$60,2
ies many individuals
[gle to become owne?
le getters there will 1
ation right here in 01
NEW
) Series No. 4 are no
siting you to subscrit
lesiring to save mone
id at the rate of $1 0(
> Buildin
<
R. E. WYLIE,
1 CONFERENCE FOR
THE COMMON GOOD
A Permanent Movement to Co-Ordle
i
e | nate the Constructive Forces
i I in South Carolina.
v
j I The following has been sent ua
t ror publication. We heartily, endorse
every word of it. The conference
takes place in Columbia August
f 6 and 7, 1913:
Many a man has at some time in
r his life marveled that- in Congress
~ a Republican ever vote6 for a Democratic
measure or a Democrat for a
j Republican measure. Yet party
lines are not greater than patriots
j ism. When the United States det
clared war against Spain, Congress
unanimously passed the Cannon bill
> putting into the hands of the President
fifty million dollars for nation[
al defense. On this all were agreed.
. It was for the common good.
The nation is called a common.
wealth; and wealth in common is
. not aimed at as the national purpose,
still the national wealth, or weal, is
L the common concern of all and ln,
directly commonly to all, for all own
or possess the nation's wealth. Fun'
damental, then, is the fact of commuallty
and also that this force
; latent in groups of men needs expression.
Civilization thus is the
expressing of what is common to all
1 nthis land of the livng. It is the
living way or the way of the living.
In motthro a#
. u u> v i in tuutn u, inurefore,
even noisiest political antagonists
may agree. Upon matters
worth while all may agree. What
these are for South Carolina, the
Conference for the Common Good,
meeting in Columbia, August 6-7,
will attempt to decide, not by edicts,
but by the results of what is a sort
of a clearing house of opinion in
which all views will have their Just
weight.
This way of getting together to
find out a course to follow finds
many analogies in nature. Drops of
water stand separate on the pane of
glass until by and by an adventUTVtiifl
rtrnn IftAoanu ! ? -
...U|/ iv/uuviin up uiuunug, mm
joining with other drops, forms n
tiny rivulet, draining the glass. It
* has organized the drops. The flash
of lightning gathers up the potential
of the tiny globules of water in the
sky into one blinding discharge. The
! verse, "Little Drops of Water," is
worn with repetition; and it is not
! new at all to say that the brooks
form streams; streams, rivers; and
rivers bear upon their mighty bosoms
the commerce of a nation; but
the wonder is that men do not see
the new thing in these old ideas
when applied to themselves.
I ii is mis. only T>y Joining together
do wo serve. Channels are
formed thus. There Is no man, possibly,
who does not desire to work
for the good of all, who does not
I want his town to grow, b?trr| crops
< 1
1
NEWS, AUGUST 1,1913.
HE I
St LOAN
NO. 1 HAS M
THE MEETIN
EHOLDERS T]
500.00
will be made happy i
s of their homes and
:>e many thousand 6
ur midst.
SERIE;
w open at The Firs
>e to stock in this S
y no better and safer
) for each share subs
g & Loa
Vice-President
to be made in his district, fewer evidences
of poverty to be about him,
i to be cheerful, well liked, and not
a gloom over others. But these man
stand apart in effort like the drops
on the glass or the mist in the
I heavens or the brooks in the field,
j "Little strokes fell great dfcks," for
i centuries everybody has said; now
: is the time to do. What to do is
1 clear. Join hands with your nelgh,
bor for something better. That
j the common good. A first good step
, Is to come to the conference in Columbia
and to the one in your com1
munity and stand shoulder to shoul,
der to shoulder with those who nre
not ashamed to be found trying to
do good. "Gather up the fragments
j that nothing be lost"?of this effect
! which all feel, which all can express
but are not expressing, and which
men singly cannot perform but can
do easily and well in conjunction
. with other men.
| Neighbor, do not hold back from
the discussion because you feel a
hesitation in making yourself heard.
I A very slight pull on the trigger will
fire a large gun. And when a glass
of alum water is about to crystalize
lout, the smallest bit of alum dust
j will hurry it up by giving the molejCules
something to line up around;
even a grain of foreign matter like
Ritnrt will oomo ? "
? ..... vuc |juipune. 11 you
have the speck of duat or the grain
of aand. bring it along. The value
of the conference will depend upon
you.
I
TO WITHDRAW NEGRO'S NAME.
May Substitute Name of Indiai^For
Register of C. 8. Treasury.
j Washington, July SO.?So much
opposition has developed In the last
few days to the confirmation of A. E.
Patterson, the Oklahoma negro, to be
register of the treasury, that In the
opinion of Senator Gore the withdrawal
of Patterson's name probably
will take place soon,
i Senator Gore and Patterson appeared
at the White House today,
but neither got to see the President
because of the crowded condition of
his engagament list. Senator Gore
did, however, talk the appointment
over with Secretary Tumulty, but
Patterson had to content himself
with an Interview with a minor
official.
Senator Gore said he still was In
favor of the appointment of an Oklahoma
full blood Indian to the place
and felt sure such an appointment
would be confirmed by the senate.
Domeetic Explanation.
| Young Hopeful?"Ma, what's a
carpet knight?"
| Ma (glaring .at pa)?"One who
will put down the carpets for his
wife without growling and before
he'll see her attempt to do It herself."
f
\ ft. > fc ii*
' /
ASSOCL
ATURED, AND
\Q AUTHORIZI
HE SUM OF .
in that their homes ar
I r-* /-* -?
i pi upci ty.
lollars paid to non-b<
S r=
t National Bank of
eries. It's the easies
investment can be fo
cribed.
in Associ
E. M. CRC
FITZGERALD WINS I
FIGHT FOR ECONOMY1,
Democratic Caucus Marked by Strong J
Political Discussion, Demanding
Republicans Replaced. j (
Washington, July 31.?Leading 1
1 an economy fight against more appro- i
priations for public buildings, Chair- '
, man Fitzgerald of the house appro- ' <
priations commttee omcnw-i - 1
Democratc caucus today with a half- '
victory'over Chairman Frank Clark 1
of the public buildings committee. | '
The latter's resolution to direct 1
the appropriations committee to re- ;'
port a public buildings bill was defeated
68 to 64 but a tentative agree- 1
ment was reached later that public
buildings appropriations will be 1
given immediate consderaton by the 1
j appropratlons committee with the 1
view of recommending further expen-,'
dtures.
I The Democrats agreed to let down |
the bars for the passage of several I
I Important bills at this season. These Include
the so-called Hetch-Hetchy,
bill, authorizing San Francisco to use
| part of the Hetch-Hetchy Valley for
a watf*r reservoir, the bill to elevate
A 1?~
vuv nmci n ail iBKailon ai spam to'
the rank of an embassy and the bill j
to provide for an American minister *
to Paraguay. *
The caucus was marked by strong 1
political discussion, Including a de- c
mand upon the administration to replace
offlceholdng Republcans with
competent Democrats. Represents- .
tlve Cullop of Indiana, referring to t
the fact that a Republican now holds t
the position of supervising architect |
of the treasury department. In "charge I c
of all public buildings work, declar- t
ed It "was time Democrats were put e
on guard" over all public expend!- n
tores. t
The result of today's caucus Is ex- t
pected to be an agreement on the t
part of the appropriations commit- c
i tee after further consideration to In- c
J elude many of the proposed appropriations
in the deficiency bjll. _
Ty. Cobb Calls on President.
Washington, July 31.?Ty. Cobb *
was a White House caller today. He ^
came with Representative Trlbble ot r
OeorRla and President Wilson greet- 8
ed him warmly. Cobb Invited the President
to see one of the Detroit- I
Washington games, especially that I
on Saturday when a cup will be pre- c
sented to Walter Johnson. The 0
President said he would try to at- j
tend. R
A Little Trickster.
"Well, Freddie, dear, did you give
the man at the postofflce the money
and then mall the letter?" tl
i "No, mamma, I still have the, f<
money; I put the letter In when he a
(wasn't looking." g
I
/
1 -\
?? ' -V
6-.
\TION
rAM H/f X^TVT
ill IM> NG
SUCH,' }
.
.
1
e n^irl fr*r onrl
- f M*v? ivri f ail VI
arrowing stock%
?
Lancaster, and
t way we know
und.
ation
iXTON, Sec. & Treas.
I
EVERYBODY HONORED BUT DAD
Senator LewU Proposes July 29 aa
"Father'* Day."
Washington, July 31.?Senator
J. Hamilton Lewis has come to the
soncluBion that the "old man" of the ? i
family has not received proper recognition
from a grateful country, although
the nation has honored the
>ther members of the American
household. As a reseult, he announced
yesterday his Intention to
Introduce a bill setting aside July y* J
Q no *1 - ?
?o ruiuers uay." Already
.here la a "Mother's Day," and a
'Chlldren5a day." )
"Why should not we do something
'or the old man," asked the senator.
'He pays the bills and on cold wln:er
mornings Is forced to light Are.
n summer they make him do the
work of a horse In mowing the lawn
>eneath the blazing sun."
Subscribe for The News. J
ANNOUNCEMENTS.
For Cotton Weigher.
I hereby announce that I am a canlldate
for re-election to the office of
Cotton Weigher at Lancaster, sub*
ect tothe laws of the state and the \
ules and regulations of the Demoratlc
party. . J. BAILET.
For potion Weigher.
I am a candidate for Cotton , j
Velgher at Lancaster. I recognize
he rules of the Democratic party, \
ind those governlnr tho oi^oHo
_ M ? v?WMVU VI
otton weighers In Lancaster couny,
and will abide by tbe same. If
lected, my motto will be tbe same
.8 heretofore?to know no man in
he discharge of my duties; and 1
>ellere a change should be made In
he cotton weighing business In Lanaster
for the upbuilding of Lanaster
and her cotton market
J. F. NISBET.
For Cotton Weigher. |
We are authorised to announce
he name of Ellison Small for Cotton
Veigher at Lancaster, subject to tbe
ules and regulations governing
ame. ^.
For Cotton Weigher.
I hereby announce myself as n
andldate for re-election to the office
f Cotton Weigher ror the town of
leath Springs, subject to the rules
n<3 regulations governing the same.g^
y Z. F. MACKEY. JT' *
For Cotton Weigher. | p
Yir^ - ? ?A*- - *
?o ?i? autnorized to annouiSv^
tie nace of W. T. VanLandingh^L^
ir Cotton Weigher at Heath SprlrflBBV
abject to the rule* and regulatl^^^^
overnlng same. V \