Historical Newspapers of South Carolina

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I AUU JL- WW? Established 1844. 1 THE PRESS AND BANNER ABBEVILLE, S. C. I The Press and Banner Company Published Tri-Weekly Monday, Wednesday and Friday. Telephone No. 10. Entered as secontf-liass matter at post office iv Aoheville, S. C. Terms of SubccripUon: One Year $2.00 * Six months $1.00 Three months .50 L_ . ^ / MONDAY, NOVEMBER 15, 1920 I . 7 / ? WHERE TO TRADE. In these hard times it is to the interest of every man to make his dollar go as far as possible. In order to do so he must keep up with the prices at which goods are being offered. Tfie advertisers in the Press and ? Banner fye in every issue offering the people more and more values for their money. l5ach issue carries of* * ?~ one TVlO iers ux guuus m, icuuvcu auv merchants who keep up with the markets know at what prices goods m'^y now' be bought and each week they revise ^their prices and offer discounts which enable you to buy from the home merchant today just as if he were buying ih the wholesale markets today. The Press and Banner is glad to recommend to the favorable consideration of the buvine Dublic the mer chants who regularly advertise in our columns. We know that they are the leading merchants in their several lines in Abbeville. "jiVe know that they have the right kind of goods, and that " they will treat thei* customers fairly, giving full value received .for every dollar which the customer has to spend, and that after trading with ' them the customer will go home, satisfied. When you come to Abbeville, or are planning a trip, if y^u want to ^ . use economy and go about your tracing as a business man goes about his business '.you should Jook over the advertising columns of this paper. Then when you get to town you can ; x straight to the merchants who adr vertise with us and know that you are making no mistake. There is a certain amount of goods which every household must have for the fall season even in hard times. \ On behalf of our advertisers, we in' vite you to inspect what they have to , offer and to do your trading with them. We stand behind what they say. / * THE CAUSE OF BUSINESS DEPRESSION Governor George J. Seay of the Federal Reserve Bank of "Richmond is sending to member banks in pamphlet form a copy of his letter of October 8 to the Manufacturers Record, in , the course of-^rhich he S&id: "The facts expressed in these fig' ares are a complete repudiation of" wose charges that tnere has been | , 'credit curtailment' or 'domination over' either Federal Reserve Banks | /or member banks 'which forced banks j to curtail credit.' '* That amazing statement should have been withdrawn by Governor Seay before this. It is incomprehensible to intelligent men that he should have issued it. In circular-letter Np. 94, issued on 1 December 20, 1919, to all member 'banks, the Federal Reserve Bank of Richmond said: "Our present task, therefore^ is to j proceed with the deflation of credits! as rapidly and-as systematically as; possible/' v On April 26 circular-letter No. 95 ; to member banks said: "ItUs a recognized function of the j the Federal Reserve System to exercise control over the volume of credit and currency. "It is recognized to be^unsafe to go further with commodity prices at; such a dangerous height. "If all the banks in this district will earnestly and conscientiously endeavor to limit credits to necessary activities for production purposes, insist that that the'burden of carrying loans on Government securities' shall be gradually assumed by xsubscribers, etc." The circular-letter of June 21 said : "Immediately upon the passage of j the amendment we issued our ircular No. 95, in which we expressed the belief that if all banks in this district \ would earnestly and conscientiousl endeavor to limit credits. _ _ _ | "We have sent out-information ir tended to enable all jnember bank! and particularly those borrowin I rather heavily from us, to co-operat j with us intelligently for the consei vation of credit." On August 24 the circular-lette said: "We had been conducting a can paign for the conservation of cred j for more than a year. ! "If we can ill pull together, hov 1 ever, for a while longer afid continv to exercise the greatest possible cai in the granting of further credit etc.'; On September 23 the circular-lett< to member banks said: "It is in our opinion more impor ^ant tnai^ ever that great conservatic should be used in granting of credit etc." . . We regret that space forbids usir these statements in full, but they wi all be found in our issue of Octob( 21. ' The inevitable result has come. ! was foreseen from the beginning b every intelligent man who cared 1 study the situation. Every plant thi is forced to close, even temporarily every laborer no^ locking for a jo because of a' shutdown; every d< crease in wages; every dollar of tfc $7,000,000,000 to $8,000,000,00 wiped out in the value of farm pro< ucts is a testimony to the unwise e: foVt of the Federal Reserve Board t break down prices. And all of this bi cause tut: rcuciai avcocjlv^ with narrow vision and financial ii competence, struck at the credit si uation and wrecked the country prosperity. In this connection it is not in a] ppropriate to quote - the statemei made on September 27 in Bulleti No. 2, issued by the Frist Fe< eral Foreign Banking Association c I New York, which said: "Under authority of the League ( Nations a propaganda ol internatloi al deflation has been -launched." Manufacturers Record. 1 j The foregoing wei think will fu: I nish the readers of this paper wit \ the reason "Why cotton has fallen te or twelve cents per pound in,price i the last ninety days, why the goo< of our merchants are on their shelve why men^loaf" in their own st'or< where they might otherwise be bus; whyythe farmers, after performir their labor, are denied the just con pensation which others ^laborers ri ceived in the beginning of the yea why people ever this section of tl country are in reality in want, an why the conditions which surrour us are more hard to bear than th conditions in 1907, 1914, or at ar other time. No wonder the American people i the recent election revolted, an kicked out the powers which mal< these conditions possible. If the r< publicans-when they come into pov er next March cannot make cond tions better, they certainly will nt mnto fhom wnrsp unless all the land' property and other possessions of th people are bodily confiscated. Th federal Reserve'Board actively tacl "ed by the treasury department a Washington has gone as far in thi direction as it is humanly possible t ! go. Let us hope that at least some re lief will come to the suffering pec pie of the South from the party whic it has so long despised, and that som of the incompetence which is cursin; the country may be gotten rid oi Let us hope that we shall get rid o those agencies which first rob us, an then try to cover their ill deeds b; / denying, that they commit them. THE WEEK'S WEATHER ? Washington, Nov. 15.?Weathe predictions for the we(& 1 beginnini today are: Middle Atlantic States: Generall; fair and. cold weather, but with som probability of snow or rain Wednes day or Thursday. South Atlantic and East Gulf Stat es: Generally unsettled weather; be low' normal temperature and occa sional rains. HARDING WILL CALL EXTRA SESSION MARCH 1Washington, Nov. 13.?President elect Harding will call the extra ses sion cf Congress for March 14, it wa reported in Republican circles heri today. The new Congress is exp^ctei to remain in session continuously fo two years. It will first take up a reso lution declaring peace, then revisioi of taxation and a new tariff bill. ytGASOLINE COMES i ONE CENT LOWER t-^ 3, Tank Wagon Price Cuf Effective on g Sunday?No Announcement by e I y company as 10 juncci uu r- Retail Charges. ) :r New York, Nov. 14?Tank wagon prices of gasoline will be reduced i- one cent a gallon tomorrow in states it in which the Standard Oil Company of New Jersey and the Standard Oil v- Company of Louisiana operate, it ie was announced here tonight by Walre ter C. Teagle, president of the New s, Jersey company. States in which the reduction will Jr be effective include New Jersey, Maryland, Virginia, North. Carolina, t- South Qarolina and the District f>i >n Columbia, in which the Standard Oil s, Company of New Jersey operates and in Louisiana, Tennessee and Arkanig sas, in which the Loujsiana company .11 operates. " ;r The reduction in ?rice is not the result of lower costs either of Crude It oil or labor, Mr. Teagle said, but is ?y a movement on the part of the com;o pany to aid in lowering of priees as it part of the general commercial adjustment. >b Prices of tank wagon gasoline un6 i der the reduction will vary in the le j different states, it was e\;'.aine<ll >01 owing to differences in freight costs. 1- j The effect upon the retail price genf-! ex;ally was not predicted by company ;o officials. In New Orleans the price 2- will be reducted to 28 1-2 cents to1, morfow. The present New Jersey i- price is from 31 to 34 cents. t s BOY SCOUT MEETING - 'j ?" The Boy Scouts wilL meet Tue^^ day night at 7:45 oclock in the in Council Chamber. Thirty-eight Scout j books have been ordere3.' All mem'^.bers are requested to bring twentyI five cents for a registration ticket. >f I ? , , Mr. and Mrs. Otis McMillan of < [Greenwood spent yesterday /fn the'j j'ciyt with Mr. and Mrs. J. M. Gam-N r-? i * , ' brell. ! :hl n!BLUE STOCKINGS ,n DOWN* ERSKINE is! ? I . | jDue West, Nov. 13?In one of the j best games of the season Presbyter-) jian collegc defeated Erskine here toig / ' day by a score of 14 to 0. During flthe first quarter it seemed that 0Erskine had the edge on the PresJ* -byterians as Erskine was making ^ j consistent gains over Presbyterian ^ j college's line and Presbyterian col! lege failed to register a first down. ! Erskinle carried the ball to the iyishadow of the goal posts where a I I fumble gave the ball to Presbyterian ' college and in the next quarter the 1 visitors took it on a pass, the only pass Presbyterian completed during a. i _ . the game. Presbyterian scored again in (the last quarter on a,-run ^ by McMillan which put the ball near \ithe goal and then took it over by ' successful line plunges. Wilson ana McMillan were the Presbyterian col6 lege stars, scoring the touchdowns. Phillips played his usual game, making two runs of 30 yaVds each and IS " ' numerous short ones. Young for 0 V.oll LU L dftlllC aidu piojfcu 5W/U wum ANSEL NOW ON BENCH x h g s Greenville, N*v. 14.?Martin F.CT * Ansel, governor of South - Carolina ^ I for two terms, and a prominent fig^ | ure in Democratic national campaigns today assumed the bench as y? j judge of -the Greenville county court established by. election November 2, i Mr. Ansel, elected legislator, solicij tor, governor, judge on 14 occa; sions, has never suffered defeat by r | the vote of the people since he berr i iqqc; 1 5 ! gttJi ilia puuwcoi igti ui x v. ,1 WANTED!] .! 1 I White Farmers 1 ' ,} \ \ TO SETTLE IN BURKE COUN- j TY, GEORGIA. SPECIAL IN, DUCEMENTS OFFERED. FOR a . , e FURTHER INFORMATION j ) HiDTTr TUC Dl !Dl^r rOIIMTV 1 r CHAMBEk _0F COMMERCE, 1 WAYNESBORO, GA. ] iV fS= I You Ha Lov Here x< ?>>> 7 R:f< > I Qinfo in/J r^TTOVP/ IiJUiio auu v Tuw formerly $40 at Suits and Overcc formerly $57.50 Suits and Overcc formerly $62.50 Suits and Overcc formerly $74.00 OVERCOAT VAL You'll find nothing with our values in best domestic and . warm ulsters, spori 'smart double-brea collared Overcoats. AMEI ?? tve Deman i Prifi r t i iv They Ai f Our entire stock \ wear, * the season C w merchandise, is no^ I to you at reduction I 2ft tn '< p, Per Cer M \New and all-wool, ored suits in the m models. They show it on first sight; bir i you don't see?the | are as gojo das the I pearance; They're men who value dig smartness combine' 1 oring is done- in th class manner. The |\ measuremnts are h v meet the fit-require H ; every type of figure |i rics are as flne,'a^t produces; new <$lo: 1 ' terns of great beau fc , Tailored to |yL Individual M b \ " $27^0 ? :'5371# f, ; S40?o to r*57J0 I j === ^A. UES EXTREME else to compare ml \\ Overcoats; the H|l foreign fabrics; . v.. ty belt models, ifsted styles, fur J; iicAN St. J. W. Ladd Abbeville, S. C. _/ / . / ded 111 * , . . ii . \ . I es ' ? a A' " * ell if v ;t . . ' . 'I of Men's " s newest . > v offered is of 40 l it. hand tailost stylish their mer: " C the parts insides? J, oute'r ap- ,N styled for and { x d ; the taile highest . ? sizes and varied, to sments of ;> ?. The fab-^ h? world rs and pat- ' , ty. i f * Your cadui c if IOLEN [IP Llj , Mgr. . * mm ?. ityjk