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? r_ ;OUP SIX BANI W CONVENTION ' i (Continued from page 3) r System. The resources and machinery of these banks will be heavily drawn upon when the trial comes. We believe, however, their resources ( will be adequate, and, should it be ' necessary, increased facilities and power will be granted. One satisfaction is at the end of the war we shall owe very much less abroad than at the beginning, and, as an offset to the remaining debt, will hold a large amount of foreign obligations. If this position is maintained, less of our earnings will be sent abroad as Interest and dividends, and we will have more for investments on our account. In some lines of manufactures we have been thrown upon our own resources.?new industries have been established.?will we be able to maintain the against foreign competition? Considerable amount of trade has been diverted to this country, our manufacturers are having: an opportunity to introduce their goods In new markets. Are we doing: it? The present control of the cotton goods market of China by Japan is an index that we have not been diligent in looking after our trade. The theory has been expressed that sudden changes effected by temporary I causes are not permanent, and will j react. The final outcome determines 1 whether the center of gravity has been moved. The center of gravity in industrv and finance, summed up, is the net result of the various Influences which make for economic production and distribution. The United States is not the center! The steady flow of raw material to Great Britain and the continent for manufacture and distribution around the world is one of the strongest spokes in their wheel. The super-abundance of capital and labor has forced Great nniHin iu me sea. ami 10 omer countries to find employment, while we hare been busily engaged at borne with our own resources. Now. to what extent has the center of gravity been shifted,?to what extent have we acquired a cosmopolitan attitude. ?how soon will American capital supplied In the form of equipment, machinery and poods, he sent, out to the world, and with It the skilled mechanic to Instill and educate the world to call on \is for. and to us?, American poods. South America Is only a few thousand miles south, vet millions of dollars of merchandise cross the Atlantic and are then reshlppcd to Brazil. Arpentlna, etc. Our need Is vessels to convey (his merchandise, so we can he independent of the combines of foreign ship owners. A lar?c number of vessels have been added to the American merchant marine, our ship yards are constructlnp, yet the total Is Inadequate. Europe is fighting their miphtiest war. and we absolutely dependent upon foreipn bottoms to transport our merchandise. Cannot the solons of this preat government suggest a remedy, whereby we may compete in some degree of equation with the foreign countries? If this country expects to acquire anything like material leadership among the civilized countries there must be a readjustment of the theories and habits to meet the present conditions, they must discipline themselves with moral and economic efficiency, the lesson of self, control must he lenmeH nnil nroMI?o/( T? i? Just as essential for preparedness In the bureau of the secretary of agrlctilture and commerce and labor as for the war and navy offices. Th? predominant Idea exists that being a free country, we are free from all restraint, but with success depends largely the cohesion or amalgamation of Interests, a higher regard for the welfare of the people at large, a higher respect for our local and national governments. ? which, of course, means putting Individualism second in the scheme of things. Boasting of our freedom In government of church and state.?can we boast of our knowledge of life? We have to learn the first principles of co-operatloTlT organization and appli- i cation. Not that we are Ignorant of conditions, hut we lack the ability, i or should 1 say, the stamina? ?to i apply it. The economic condition in 1 Germany must have been near per- ! feet. If such was not the case, the < struggle would have ended months i ago. The newspapers printing thrif*. j the American people practising thrift- < lessness,?waste and extravagance < dominate. Who started the tipping i feature? I suppose some of the "get- r rich-quick" of this country, who had J7 more wealth than they could spend, jt began casting their coin where it Is \ t 2 (ERS GREAT SUCCESS least appreciated, and does the least good. If the amount of money that j is thrown away In tips every year could be tabulated, I think you would ( find it sufficient to support at least ! one half the charitable institutions, of the country. The national wealth j of the United States is three times that of France, and nearly double that of Great Britain or Germany, our income larger in proportion than that of any other nation; yet our per vvuhibo ui 1IU1--IIJ ia i - i>ui seyeiuy to eighty per cent,?1s this thrift or preparedness,?is it the lack or proper education. The bone and sinew of the nation are those who depend on the weekly wage for subsistence. The government should aid and as- ( sist .those upon whom its dependence \ exists, by instilling frugality and pro- . Kress Thrift Increases strength, efflciencv and character. Let us take ^ a lesson from the war, and so discipline ourselves as not to be com-1 placent and satisfied, but to bend our! j, energies towards the enlightenment. j of the masses, to the test of any cri- j sis that may materialize. When tho J *^ war ends, and Europe goes back to industry, the influences which work to restore the equilibrium of trade: and credit will be released and com" into full operation. Can the United j' States hold the trade it has acquired A { J when our cost of production exceeds ^ that of our competitors? Can we w reduce wages and prices to meet eom' w petition? Unless we do. our exports, will shrink, the gold that came to us ^ will he sent back to make our bal-1 ances good, credits will he contract- ! ed, and readjustment will he in ori C( der. g< There is a certain balance or a, equilibrium in all affairs which, when j C( disturbed, is bound to reestablish it- ' jj self. In trade, gold flows from one ()) country to another, which increases the reserves of one.?decreases in another. The increase stimulates _ enterprise, encourages expansion of u credits, creates demand for labor an d|ti goods. The other means contrac- rj tion of credits, checking of enter-! ^ prise, lowering of prices on account S( nf oprnn an In With prices. Interest rates, and se- j curitles rising in one country and i falling in the other, free movement between the two countries will react | u-pon each other, and influences In | both will work towards the restoration of the equilibrim. Through the j automatic operation of these influ- , ences, the world's output of gold is j distributed over the earth.?it does not stay with the countries where it 1 is produced. They keep only so much ( of their share as the .vorld's business jj entitles them to hold.?the test finds; its way where it is needed. Just as, as water seeks its level. At present, the level between this country and Europe is suspended. Hold has poured j into this country in unprecedented amount; is still coming; rates at money centres abnormally low; every j inducement to expansion of credit; industry under full headway; labor employed: production in full swing, new supply of gold to be applied. Shal wages be increased, prices rals ed. so a large amount of money can be used to handle the same volume of business? Such an increase does not signify real prosperity.?it is an inflation which suggests the spending of money. Obligations are increased,?by expansion of credit, the business situation really weakened by this delusion. Uuless some economic proposition is devised to check this upward rise of prices and wages, the cost of production will far exceed that of the rest of the; world. Can we hold the gold in abeyance until the equilibrium Is restored, thereby reducing the chances of inflation? Or better use in pur- j chasing our own securities abroad? | Or investments in government loans to those countries from which we are likely to have demands for gold after the war is over? We must keep the level of costs at the point where we can not only successfully compete for trade after the war, but enable us to hold what we have. Just one word more about preparedness. No stone should be left unturned that will impress that feature, it should be nreached on the Rtreet corners, ?on the house tops,?* everywhere that topic ought to be discussed, so that It will be prominent in the minds of our people.? for our national welfare depends on how well we are prepared to meet ?very issue that confronts us,?we need to have the facts, the perils, ?nd tho opportunities of this complicated situation understood, from the aptalns of Industry to the humblest vorker. T.nbor and capital must rf)jperate to bring about an equation, nakir.g thesP United States the cener of gravity around which the vorld will revolve, and permanently ? fHK LANCASTER XKT PEOPLE 0 The people of Milan filling the b and Injured bp vera 1 people. They a the outskirts of the city. stablishing our position for a Imes. Following Mr. Grice, W. E. Cac .allader, Auditor, Federal Reserv lak, Richmond, Va., discussed th 'ederal Reserve system to considei ble length for the information c [lose present. Many features of th 'ederal Reserve system were thorc ghly explained and the benefits t e derived to banks by joining thl rstem were thoroughly expounded t the conclusion of his interestim tlk. the conference resolved itsel ito a round table discussion, durin: hioh time many important question ere asked by various members, nl f which he promptly answered t le entire satisfaction of all. At the conclusion of the address le chair appointed a nominatini immiltee for the purpose of sug ?sting a list of officials to serve th' ssociation for the ensuing year. Th immittee was composed of G. \V uvall of Cheraw, John T. Steven r Kershaw and R. B. Caldwell o hester. The nominating committee sub litted the following list, who wer naimously elected by the conven on: Charles D. Jones, Lancastei lairman; T. H. White, Chester, vice latrman; John L. Lindsey, Camden ?cretary-treasurer. Executive com .t Csaarff^gBBI j| 4^P^|PPP^JPPP^P|PP|| Empir< Sets N ei Transcontinental trip of 3 59 minutes, giving them the cl tance and time, beating the wo Eight by 25 hours. From Oraa in 17 hours. Gasoline consun to the gallon. The engine wai Empire Automobile Conip: automobile magazines everywh of a stock car over all other i Rgency we had to sign contract / only three left and can offer ai these. First come first served. ' * ' J. F. Ma F MILAN ROUSED BY AN imm I itii ii 1 i ^ treets after a late AuatroHungarian air ra re watching the aoldlars handling the antlII mlttee: H. M. Duvall, Chesterfield i county; G. W. Williams, Lancaster | I- county; 11. G. Garrison. Jr.. Kershaw. e county; J. R. Dye, Chester county; i e C. L. Cobb, York county; T. H. Ket-: - chin, Fairfield county and Mayuard < if Smith, Cherokee county. No other , e business, the convention adjourned i- to meet at the Royal Hotel for the | 0 annual banquet. s Tho Banquet I I. The banquet given at the Hotel g Royal to the bankers was complete! f in every respect and was greatly eng Joyed bv all. Mrs. Williams, who s had charge of the arrangements, eer1 thinly proved herself equal to the o occasion. At the conclusion of the banquet, the toastmaster, Hon. C. i, I). Jones, called upon the following g well known bankers for short talk - which were greatly enjoyed. J no. e W. Simpson, Spartanburg. S. C , e president South Carolina Bankers Association; Leake S. Covington, s Rockingham, N. C., president North f Carolina Bankers Association; J no. B. Cannon, Spartanburg, S. C., cashi ier. Bank of Spartanburg; Chas. J. e Shannon, Jr., Camden, S. ('., presii dent. First National Bank; Col. Le , roy Springs, Lancaster. S. C.; Judge i- Ira B. Jones. Lancaster. S. C.; C. H. l, Yates, Camden, S. C., cashier. Bank i- of Camden. 1 < t e Four iv Record I 4 85 miles in 6 days 10 hours and hampionship of the world in disnderful record of the Cadillac j i ha to Elkhart 700 miles was made j ! iption was an average of 14 miles j s not touched from start to finish. ' any is being congratulated by the ere on the wonderful performance cars at any price. To secure the : for a number of these cars. Have ii attractive agents discount on t. i ! I I | ckeyCo. lil !?, ' AIR RAID id which caused considerable damage aircraft gum that are situated around LANCASTER ENJOYED 1 COMMENCEMENT WEEK [ ___ I (Continues from Page 1) t 3 b standing room was scarcely to be liad anywhere. The diplomas were presented to the members of the graduating class by Col. Lerov r Springs, chairman of the board of trustees of the Lancaster schools. ' ^rof. Leonard T. Raker, dean of the _ University of South Carolina, was jresent by invitation for the pur- c, jose of addressing the graduating 0 lass. His address, a rare lyerary t' rem. was closely listened to through- ' nit. and it is said was one of the nost eloquent and scholarly educaional addresses ever heard in Lan aster. Always a good speaker and in entertaining talker. Prof. Raker f( lad Friday night, besides the In- n ipiration of a grtat crowd of appre iative listene <h< additional stim- " llus of bein, ^eiong many warm varm friends and admirers in Lanaster made by him during his sue- a essful administration here 12 or 15 s! ears ago of superintendent of the 'J Lancaster schools, and it whs said by hose who have had the pleasure of ~ leaving him several times before hat in his address Friday night he eached the acme of his well known j* ibility as a public Bpeaker. At the t( oncluslon of the regular program e or the night. Superintendent Weslinger gave from the platform a most interesting nnd unusually fine re- ( \nrf f\ f t Vin onn/1 ! Inn r\ 9 V* #-? o /\?l? I ind of the highly gratifying prog-id ess and prosperity that has been Q hoirs during the past session. The *! enrollment and average attendance )f the schools this year has been the ?est in the history of the graded" ichool system; the school work Ip lrnctically every line of pndeavor has d naile remarkable advancement and mprovement all along, and it is eon- '' blently predicted now that with the lame good support and co-operation in the part of the patrons of the schools for another session next year j Vill see even better things and greater accomplishments than ever. p rhe Quinine That Does Not Afreet The HeM u ltc?n?e ol itn tdwic *nd laxative effect. I.AXA- 1 riVK BROMO QiA^s'/nH it better than ordinary C Juininc and dv.esAfot cause nervousness r~x a iugiiiK in head. xAuember the full name ai?i . ook fcr the siL-uayire if K. W. GROVK. 25c. tl Gl^fci / offers yon arV easy \v; will hold its lustre ur We recommend D porch and lawn furniti too. It will not era durable finish which < know, it can he washei Stop in and get a c colors. Ask us for inl Devoe products. Rem< Lancaster Me .ANCASTER ANNOUNCEMENTS *( ! ?iim| I'OR TREASURER I am a candidate for re-election to he office of County Treasurer, subect to the rules of the Democratic >rimary. T. L. HILTON. FOR REPRESENTATIVE I am a candidate for re-election to he House of Representatives, aubect to the rules and regulations of he Democratic primary. I wish to ake this opportunity to thank the 'oters of Lancaster county for the tandsome vote given me two years .go. S. E. BAILES. FOR SHERIFF We hereby announce the namp of 'ohn P. Hunter as a candidate for e-election to the office of Sheriff or Lancaster county, subject to the ules and regulations of the demo??!/. 4- ?- U.U ? ioviw iiuuim J clctllUU IU OB IlttiU lU August next. FRIENDS. . V. , FOR CORONER I hereby announce myself a canlidate for re-election as coroner of Lancaster county, subject to the ules of the democratic primary. I lave endeavored at all times in the ?ast to fulfil the duties of the office o the best of my ability, and your upport In the coming primary will >e greatly appreciated. M. N. JOHNSON. FOR CORONER I hereby announce my candidacy Di- Coroner of Lancaster county and ledge myself to abide by the rules f the Democratic primary. W. Q. CASKEY. FOR CLERK OF COURT I hereby announce myself as a nndidate for re-election to the nice of Clerk of Court for Lancaser county, subject to the rules of lie Democratic primary election. PAUL MOORE. FOR AUDITOR I hereby announce myself for relection to the position of County udltor of Lancaster county, subject o the rules of the Democratic prilary. JOS. W. KNIGHT. FOR MAGISTRATE I take pleasure in announcing H. V. Mobley a candidate for reelection s Magistrate for Pleasant Hill Towntiip, Bubject to the rules of the lemocratic primary. "FRIEND." FOR MAGISTRATE I hereby announce myself a candidate for the office of Magistrate ir Pleasant Hill Township, subject v > the rules and regulations of the X (emocratlc primary. J. F. MAO ILL. FOR MAGISTRATE I hereby announce myself a candlate for the office of Magistrate for 111 Creek Township, and pledge myelf to abide by the result of the lemocratic primary. JOHN L. CASKEY. FOR MAGISTRATE Jbrn-eby announce myself a canIdtu^for the office of Magistrate or CJU Creek Township. I also ledg?myself to abide by the result 1 iV'mocratic primary. * | DAVID R. WILLIAMS. r * 'he Strong Withstand the Heat of Summer DetCer Than the Weak Old people wko are feeble, and younger eople who arjpweuk.will be strengthened nd enabled to go through the depressag heat ofjfeuminer by taking regularly Irove'sTaiteless Chill Tonic. It purifies nd enriches the blood and builds up tie whokfc system. 50c. )on't overlook your torch furniture Get out the rockers and the sete and see if they don't need eshening up a hit. It won't cost uch ana a change in color might ; agreeable. \ ay of getting a high gloss that ider weather exposure, evoe Gloss Carriage Paint for ire?yes, and for baby carriages, ck or chip. It gives a hard Iocs not mar easily. Then, you 1 with soap and water.j ard showing the many pleasing formation about this and other ;mbcr, we guarantee satisfaction. rcantile Co. SOUTH CAROLINA