Fort Mill times. (Fort Mill, S.C.) 1892-current, May 11, 1922, Image 3
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
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- 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
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'
| 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
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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
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\ \ TU E_U N IVE R S A LLC A R> ! I
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: 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
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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.