University of South Carolina Libraries
I I ^WANIC REMEDY. Pp year of the Crucifixion, pD., during the consulship H^Galba and Sulla, the Roman P^^commercial world was shaken from center to circumferenoe by the greatest panic known to its history, says a writer in the Dearborn independent. A vivid account of tHe panic is found in the pages of Tacitus and Seutonius. About a year before the panic, trade reverses and *l. _ u?. _ m 4.1 i.. j iuc iubo ui lurce ricniy iuucii spice ships on the Red sea had jeopardized the position of the linn of Seuthes & 8011 of Alexandria. A little later the firm of Malehus & Co., at Tyre, with factories at Antioch and Ephesus, went bankrupt owing to a strike among their Phoenician workmen and embezzlement of the manager. When it became known that the great Roman banking house of Quintus Muximus and Lucius Vivo had loaned largely to both Seuthes and Malehus, depositors started a run on these banks. The still larger house of the brothers Pettius was inolved and in one day all three banks closed their doors. This great Roman panic had all the characteristics of u modern panic. Banks in Corinth. Carthage, Lyons and Byzantium went down before the cyclone and after this nothing seemed able to check the flood of insolvencies. One bank after unother closed. rne \z per cent legal rate was set at naught by any man lucky enough to possess ready money. The jJraetor's court was crowded with creditors ~ demanding the auctioning of debtors' houses, slaves, warehouse stock or furniture. The auctions were thinly attended, for who could buy? Valuable villas and racing studs were knocked down for trifles. Caught in the disaster many men of excellent credit aud seemingly 1 ample fortune were reduced to J beggary. , The calamity sceiued spreading' r-* - over the empire aud < threatened a stoppage of all commerce aud industry when Grucchus, the praetor, unable to decide between the hosts of desperate debtors aud equally desperate creditors, invoked the aid and adVice of the senate. After a hurried debate the Conscript Fathers dispatched a .fast messenger, with a full statement of the danger, to the Emperor Tiberius, in his retreat at Caprir Four days later a vast throng, slaves and millioimirpR ?-lhn\vimr . V.^w ?. ...p together, filled the forum while the emperor's reply was read, first to the senate and then from the open rostrum, to the waiting people outside. Tiberius' accus-^ tomed good sense was apparent in his solution of the problem. He ordered 100 millions sesterces (4 million dollars) to be taken . from the imperial treasury and distributed among bankers to be loaned to the neediest debtors; 110 interest wus to be collected for three years. Gradually, the Via Sacra Wall street of Home) resumed its wonted uspect. We are told by the historian Stearns that a few banking houses and individuals never recovered their losses, but that the majority escaped permanent suspension. Undoubtedly, the crux of this imperial remedy is found iu the canceling of all interest obligations for three years. If such a remedy could be applied to the pqjiic that is threatening, not one but all empires and nations, beyond all question it would prove more effective "than any other conceivable remedy. In the United States alone, it would liberate approximately five billion dollars annually and appropriate it to productive purposes rather than to mere payment on dividends. We have the high authority of Governor Strong of the Federal Resere batiks of New York city that money cannot be used to pay . . ^ interest on debts and at the same time to purchase goods. Undoubtedly if the remedy by which one of the wisest of Romau emperors saved the empire from utter destruction could be applied to the present situation the effect would be to reanimute the dead corpse of public and private credit as by a miracle. Is there enough statesmanship at Wash* ington to apply this remedy! The question answers itself. Hilaire Belloc, one of the most acute critics of contemporary politics, says: "In all parliamentary countries fttW intriamoM at** thfl nnurAP. Iky depositories of power, and by v their service of finance permit the money dealers to govern as ^ ; ?W toiKf:" inotfwr wordi, Wall jb -Tv"- *" .*' ^*s' >>- .vr-" ' " * r? * --C " . " --If . < - - effjgL. | -r??. street is identical with the ** erament. *"* The visible government has long" been the obsequious servant of the invisible government. Verily the battle is with principalities and powers in the highest places. It affords food for serious reflection that while in 33 A. D., Tiberius defied the money-lenders, in 1907 during a similar panic, our executive called in the chief of the money-lenders and asked him how to stay the panic. His answer is welL known?it involved the condition that he must be permitted to absorb his chief competitor, the Tennessee Coal aud Iron company. In such crises today, the government knows but one solution, the creation of inore interest-bearing bonds. Verily these bonds do not belie their name. Gold Coast Driver-Ant. A curiosity of insect life of the Gold Coast country of West Africa is the driver-ant, which also constitutes its worst pest. The driver-ants constitute the standing army of the insect world. They have a system of caste and rank and the naturalist gravely says that the workers are a quartei of an inch long, the soldiers about half an inch, while the stately oftiers are seven-eighths of an inch. A "crack regiment" of driverants, solemnly says The Oxford Survey of- the British Empire, marches "in close forinatiou, perhaps 12 abreast, forming a line some two inches wide, the soldie'rs being distributed along the flunks and at regular intervals among the workers, on much the same plan as that laid down for a British column in thick country. The force travels at the double, generally at night, taking as struight a line as possible iinil Kplontinor lilt nvoilulilp cover, an advance party having already prepared the way. These insects construct tunnels in exposed spots, perhaps 30 feet in length,-with a height and breadth which . may be as much as one inch, and tpade with airshafts. Every animal makes way for them, for they will attack anything in their path, even fire, their system 01 communication enabling them to send reinforcements to any threateAed point." Hitting the Bullseye. We used to brag that we won the war; now we confess it. It has always been easy for those who know nothing about it to settle a problem. One way to make yourself popular is to tell your*friends they work too hard. An English author says "American girls \Vill marry anybody." Some of them have married Englishmen. Henry Ford has placed an order for 10,000 nuts. Which may:mean that we-will be missing some of our friends soon. TAX EXTENSION. Notice is hereby given that the time lor the payment ot State ana county taxes has been extended to Juliet 1, 1922, with a penalty of 3 per cent for March, 5 per cent for April, ? per cent for May and 8 per cent plus costs of treasurer from June 1, when executions will go into the hands of the sheriff. H. E. NEIL, Treasurer of York County. Te&chegC Examination. 4 The regular spring examination will be held in York on Friday Mav 12th, and Saturday, May l3tn, beginning promptly at nine o'clock each morning. This .examination will cover only primary and elementary licenses. The high school examination will be held later. The temporary permit has served its purpose and teachers will be expected to produce a valid certificate before ac cepting work for another year. JOHN E. CARROLL, 3t Supt. % Education. LISTEN! Baker'8 is the Barber Shop that baked the prices, but it didn't do it at the expense of service. Hair Cut 2Se Shampooing, plain 25c Singeing .. 26e Tonic 25s Shave \6c Massage, plain 25e Come gnd see us. We will savo you money and send yon away smiling r ,;\v sfm'g ntsawft awftP j . ' | We Show; hSI y The three following articles?items 0 ft - without which no home is complete: ft I Tour Refrigerator is one not the moot, (j ? important articles in your hone b. So when you 1 . 0 buy get the best. We selL them , A < I How about your iron? Maybe you have never A ! owned one or perhaps you need j i new one. V < iNo home can be made attractive without the V ; proper lawn and flower beds. Nothing is more ft \ valuable for the maintenance of such than Lawn v < Hose. a ] ^ Young & Wolfe j - * > . V -A.. O. JOITE2S GOOD THINGS T0 EATl w ^ . *? ? * Groceries, Market, Country Produce. Phono Fourteen. " * '/ f'~ c : _ . . .1, . w New Voile Shirt Waists Oome in aid im the pretty new TOILS UUSTWAXSTS we have. Pretty assortment to select from. V 1 THE CASH STORE PHONE 8 S. A. LEE and T. F. LYTLE, Mgrs. 1 JOB PRINTING AT THE TIMES OFFiCEl - - PHONE112 J V* '' -*? - v v-n .. +*_ ?* .r^ ~v * ** # ? * *. . % . vsj * .. ' ' * " , ?."*. "V K k ? ,'; ?"** V^*i^ ,r;? V '. ? ' " ' '". " W """ ss?ssss?asessssssEa ^?? ' Pure Crystal Ice - At Reduced Prices We beg to call attention to the NEW PRICES we are offering on PURE CRYSTAL ICE, effective May 1: 800 Lb. Block $1.60 200 Lb. Block ... 1.00 100 Lbs 60 76 Lbs 45 60 Lbs __ 36 60 Lbs ? SO 40 Lbs * 28 25 Lbs 20 20 Lbs. .. 16 16 Lbs. 15 10 Lbs. 10 B. C. FERGUSON PHONE 29 < <Jfor*c?> . \ \ TU E_U N IVE R S A LLC A R> ! I I > < * ; ? < : Let us drain your crank case and :: : replace your old oil with <; | Autoline F Oil !! | it takes the "chatter" out of the | ; brake bands. It is a special oil for i : Ford cars only. N jj | Heath Motor Comp'y || The Ford Service Station. < > > * ; Genuine Ford Farts. Sales and Service < i ? i > <} ? ??- ? - - ? =? +?+ ?+ &# * * *> *?> ? > ?*<*> | "SUPERIOR GARAGE I We beg to announce to the public that we have opened x the Superior Oarage on Upper Main Street, Fort Mill, and ? are prepared to do first class work on all makes of cars or 5 i trucks at reasonable prices. We guarantee all our work and i i it will be our aim at all times to satisfy those who give us $ >< their patronage. % SUPERIOR GARAGE I fi. L. CASE, Proprietor. <> . ieeeteeeietneoetete:et#;s: ' * 4 Always The Best % You will always find in stock at this .Store the freshest and best of everything in GROCERIES. We are in business not expecting to get rich in a day, a week or a month and ^are satisfied with a modest profit. / BRADFORD & CO. HALL STREET PHONE 113 EAGLE#<MKADO">^^^P^<Peiica No. 174 For Sola at jamr DoaUr #Mad? is fhro graiaa ASK FOt THT. YELLOW rtNOL WTfH THE KED SAM) EAGLE MIKADO EAGLE PENCIL COMPANY, NEW YORK MELEPtBBxaBfaaiarotaaNMBflHIMHBnHBMKaBHHaMnana^B -*> 11 11 i , i i it Kri. Omy Tells Her Poultry. SNAP. Next morning found two / Bailing Experience. dead rata in hennery. Kept find* "Three years ago bought an ing them. Suddenly they disapineubstor, this year I've made P^arcd altogether. It's the only ?-' *? T ?,T" thick*. Didn't know until 65c, #1.25. Sold by Lytic Drtg friend gave ma a cake ot RAT- Co. and Moore's Drug Store.