Cheraw chronicle. (Cheraw, S.C.) 1896-2005, September 09, 1915, Image 1
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T5he C her aw Chronicle
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Volume 1* CHERAW, CHESTERFIELD COUNTY, S. C.. SEPTEMBER 1, 1915 Number 4S
* '
ALLIES MUST M
FUNDS
P9T
B. C. forbes, the Oreat Finan- "
cial Expert, Says They May
Accomplish This By Tax- c
ing Amerioan Secnn- *
ties Held in Those h
* Countries b
.New York, Sei>t 2.-?Europe has c
' he^uu to totter financially. t
The United States Is to l>e called
u]K)u to do some buttressing. b
But the credit of even the strong- t
/\ut Pittmnaon nnfl<\tio hno luum G< I
iiuiujicau uaiiuun uac ^
over strained that no issue of foreign
government bonds, I understand'
will now be accepted here.
I learn from the highest sources
that (Jreat Britain will not be able to
borrow here except ou the pledge of
American Securities "as collateral,
I am told however that hundreds
of millions of dollar?, can be had from
the leading financVal interests here
as soon as arauge meuts can be completed
for ydepos'iting the necessary
American bonds and stocks.
England and 1 "ranee still own probably
upward of: $2,000,000,000 of American
securiU es.
But the ho? ders, knowing that these
investments ' are today the best in the
world, are not willing to sell.
The prot ,iem which the British and
also perlr aps the French government
must ?oJ re is: 8
How #can the .owners of these Amer- C
lean purities be induced either to
t' Jem outright or lend them to '
the' j: government r
Money Will Be Mobilized.
This subject Is excerslng study? "
^ 11 Ad should have done so long before a
) low. 0
; The heavyweight financiers who are P
"eming from England and France to *
Is'ew York In a week or two will con- n
slder the whole international flnan- c
cial situntion.
The best opinion here Is that the b
allies will find themselves compell- *
ed to niobollze their financial re-j^
sources just as they have mohlized A
their munition manufacturing resources.
e
Monitions have l>een mobolized. b
"Money will be mobolired, first, prob- J
ably, by a tax on American securities
Jield In these countries.
It looks, after all, as If gold, not a
' steel, will, decide the duration and b
the result of the war. *
Paul M. Warburg, discussing Euro- 11
pean finances with me several months
ago. said:
It is the last $500,000,000 that will 1
tell." 1
Every belligerent is approaching
the stage of forced loans, but whetn- *'
er such desperate action will be taken 2
depends upon the length of the strug- '
gle.
As a preliminary and i*?rhaps as a d
substitute, it is expected by interest- 1
ed financiers here that England and '
France will seek to corral hundreds 3
of millions of American bonds and 8
stocks by imposing a prohibitive tax
on all holders who do not either lend
them to the government or market
them. 1
I'rgent Action Needed. 11
It would not astonish insiders if
gigantic amounts were raised here by 13
the allies on American securities ''
The need for action daily becomes
more urgent. 0
John Bull, however, moves slowly, 0
fie is floundering as badly over ttnati- ;
rial problems as he did over munition
problems. But when he does act he
is existed to act drastically.
Sterling exchange again fell to a
new low price yesterday. A i>ound in
London could be bought in this conn
try yesterday for $4.f>0 The normal
worth of a |K)und sterling is fully
$4.*6.1-2.
English currency, in other weeks
has depreciated, as compared with
American money, 5 percent. thus
gravely injuring it as the standard
money for carrying on international
commerce.
Today the American dollar is standard.
Everybody prefers American securities
and American dollars, as these
are today the most valuable and the
most dependable.
America has become general provider
for the world at large.
Two Billion Export Fear.
Therefore, the world wants dollars
to meet the bills run up here.
IOBILIZE
TO PAY U. S.
Since January 1 we have sent to
'ther countries over 11,000 000,000
forth of merchandise more than we
ave bought from them?the export
alance on July 31 was $960,000,000
nd the August shipments will easily
arry the current year's total above
he billion dollar mark.
For the full year 1915 export proQise
to outvalue imports by nearel
wo billions than one billion.
English currency, in other words.
ias depreciated, 'an compared with
American money, 5 per cent. Thus
rravelj Injuring it as the standard
r.oney foe. carrying on internattoujl
;oramerce. [
England's spectacular shipments of
?old to this country,' although breakng
all records, are only a drop In the
racket
You will be supprised to learn that,
leepite the gold-ladcm battleships
vhich have mysteriously crossed the
Atlantic bringing some $40,000,000 of
he metal, America has received comjaratively
little more gold than she
>grted with last year?not over $35 00,000.
Our gold Imports since the present
rear opened have totalled $200,000,000
rat our exports of gold outran lm>orts
in 1914 by fully $165,000 000,000
ind this year we have exported $10, 00,000,
This gold balance of $35,000,000,000
vould not pay for our excess shlpnents
of merchandise for 10 days.
Danger of Too Much Gold.
Our July exports were $125 000,000
,bove our imports, and we are only
ntering the season of heaviest exorts.
This year the normally large
sport balance will, of course, be enormously
swelled by shipments of
ostly war materials.
All the gold in the Bank of Engind
($335,000,000) and the Bank of
'ranee ($850,000 000) would not pay
imerica'8 total export balance for the
rst nine months of this year!
Leading American bankers are not
nthuslastlc over the receipt of trainDads
of gold from Europe. One said
Vsterday.
"Gold is sorely needed in Europe
a basis for the mass of credits
float. It is not needed here, for our
anks are already clogged with reerves.
Too much gold may prove
langerous."
True. But between too much Euro
ean indebtedness and too much gold,
he layman, at least, would choose
he gold.
Yet, if America wishes to continue
o sell. Bhe must stand ready to failitate
payment. The plan here outined?Loans
based on sound Amerian
securities deposited with the leners?embodies
a minimum of risk
nd a maximum of effectiveness. Unecured
European governmental loans
re no longer regarded as strictly
ilt-edged.
Press.
During the hearing of a lawsuit,
he judge reproved a man for making
mnecessary noise.
"Your Honor,'1 was the reply, I
ave lost my overcoat, and l am lookng
about to find it."
"Well, sir," said the Judge "people
ilCll IUOc WUOIC DU11S Ut*X t' ? HUUUl
laking bo much disturbance as that."
YOUR C
Have your cotton an
and reliable companies
loss. ' ' "
We insure property o
with us anc} investigate o
MAYNARDPhone
84
A.
-? TW
TO ENFORCE LAW WHATEVER
IT IS
- if
,< .
Chief Executive Approved Aet Providing
for Referendum Election on
September 14.
~v, +')
Gov. Mailing will not take a hand
in the contest that is now going
a
between the prohibitionist* and tfcq
"Local Option I/eagne of Month Carolina."
"Will you supi>ort either factiopT^'
was the question put to GoveriioW
Manning. ' xjm
"I huve no statement to mak^ *
came the reply.
I.ast year Gov. Mailing was elected
on a law enforcement (platform
- ? ..tnto/l that 4m
H1H1 HP lias rejiPaieuij owku wov ?rwould
do his utmost to enforce ev?i
law put upon the statue booka. 'i'*"
The act providing for tb?( pmhiHk
tion election to t>e held Sep^BliJ^g
14 was passed at the last seHbion if
the legislature and approved by dm
governor. ^ u
If the prohibitionists win, the*
Got. Manning will use his every effita
to enforce prohibition. If the isrtql!
Deposit
The Baiij
Cher#
STRONGER THAN ALL Of A
/ 0 irTsavMV
' * 1
-4?
fails, then he will continue his campaign
for law enforcement
Gov. Manning has always favored
the lo<al option form of government.
Some South Carolinas known as
local opttonixts declare that the
"South Carolina Local Option league"
does not represent the principles or
the ikjMc.v of local option In this State.
?Columbia Record.
HOW GEESE ARE BOOTEB TO
WALK TO MARKETS
I'etrograd, Sept 3.?Vilna, the Russian
city whWi has figured extensively
in the operations of the retreating
armies from the Warsaw district, is
probably the only place in the world
where geese are shod.
The Vilna district is celebrated for
producing geese, which are sold by
thousands m distant markets. In normal
-times great flocks are driven by
the goose-herds to the famous goose
fuir or market at Warsaw, 200 miles
distant. To prevent the birds getting
footsore on the long journey, they are
ide during the late autumn lb walk
through tar, and then through tin
sand. The geese are thus provided
ith a perfect fitting pair of boots, In
which they can comfortably muke the
long tramp to market.
;OTTON INSUR.
d other property insure
; You get fair and promp
. .... i
f every description and a
ur companies before pla
IVH APPRECIATE VOI R BUSINESS
RALEY REALTY & Tf
. . , i .
GERMANY OFFERING PLEAS IN
DEFENSE
t
The German government In a note
to the: Tatted States has acknowledged
tJuit the White Star line steamer
AharaMe w&?? sunk by a Gorman subt
'tk
marine. \Tbe note, however, declares
that sblf-dqfeiise was the motive of
the comaoder of the underwater boat
Regret is expressed that American
lives were lost in the disaster and the
offer 1s nrade to submit questions of
reparation and comj>eiwation to The
Hague.
The Arabic met her doom south-,
east of Hastnet, August 1, with the
loss of lives, among them two
Americans.
The eontmander of the German underwater
boat responsible for the disaster
hii^madef a bbeiaved return to his base
Apt?repot-ted. lit extenuation of his
riRfetthe ormmander declares that while
the submarine was sinking a freighter,
.the. Arabic swung nround and headed
toward Che scene as If to attack the
ijrtthmarioe and that be fired In self-de\
; \
tzr money .in
f m
or v^neraw
{
> /
N, s. c.
BANKS IN COUJTY COMBINED
MM**
i'H- , '
I , ? (
ruded quarterly
gs department.^.
The Joke an Mr. Chappell
The joke Is on John Henry ChapI?ell
of Newlierry county. He is a
proniiHonisc; nut m order <0 Keep
from votlnjtlfor ^prohibition, which,
he soys he will <1?, he hires two
lawj^ora to enjoin himself from so
doing; but the lawyers fall down
an the job, and mow he must vote
according to his preference and the
chltates of his cosicience. This Is
0 precariouse condition for a man
from Newt>erry.?Abbeville Preas and
Banner.
The action of that Atlanta mob in
threatening the life of Governor 81a-.
ton l>ecause he saw fit to commute
the death sentence of Leo Frank, will
Ih? convincing evidence in the minds
of many jxjople that the jury that
tried Frank was Intimidated. There
Is doubt as to the man's guilt, and
until that doubt is removed the State
of Georgia had no right to execute
him. The negro Conley's utory
convicted Frank and yet this story
does not coincide with the known
facts in the case.
??.. . ?.
* DR. 0. H. rURVIS
* Physician and Surgeon
* Hotel Covington Building *
Phones Office 243 Residenre 244 .*
A "V T
d in one of our strong
t adjustments in case of
u i / /
t any location; Figure
cing your insurance. >
, i / /;. ,? - '*
(LIST CO. '
} f " T-f
|J; *8 ' i Cheraw, S. C.
jCocal and $
Mr. and Mr*. F. M. Brlckman and
little son, Fred, and air. Harry Vickman
of Georgetown, si>ent Sunday uml
Monday iu the eity.
Just folf \Vholesome Goodness sake
Try Stone's "Sunbeam" Cake?Beatthose
Mother used to make.
10 cents at E. J. Waddlll's. Adv.
Mr. Andrew Barefoot, of Charloite.
X. C., siKiiit last Sunday in the <-it.%
with friends.
Ml
Mr. J. S. Bishop, who has lieen li
Xewburn, N. C., for several months,
has returned.
mwm
W. J. Bethea, of McColl, spent Sunday
in the city with his family.
Mrs. M. W. Wright and son, Edward,
who have lieen visiting relatives
In Columbia, have returned.
Messrs. Wilson Coward, Frank Wilson^
and Clyde Coward, spent Sunday
In Wadeslioro, N. C.
Ml
Mr. Frank Moore, spent last Friday
In Wadesboro, N. C.,
*?
Mr. Roan Low, and Brown Huntley
spent Sunday in the city.
Stone's Wrapped Cakes are surely
i.loe (? {"Golden Sunbeam'?"Silver
Sliced" Can't lie beat at any price.
10 cents at E. J. WaddlU's. Adv
CI6I
The Merchants and Fanners' banl
has applied to the secretary of stati
for a decrease in capital from $12o.00(
to $100,000. \
I
. ..- .-? _ i
Miss Sarah Lilly Iioekery. <<f Tt.'ck
'iigham, X. ('. is the guest of her sis
ter, Mrs. ('. K. Waddlll.
I)r. and Mrs. A. A. McManus ami
hlldren, of McBee. are the guests ol
Mrs. J. W. Maynard.
**
Mr. It. L. Walker, formerly proprictoi
>f the Ranard Hotel baiber shop, ha.'
motfed to Charleston.
Splvey, sanitary Inspector, says 'hcj
never In nil his days, saw such clean
lug up about the premises occupied
by negroes. One of the requirements
for license "Is that quarters
ocupied by servants be In sanitary
condition, and that has made every
day since then a clean up day with
those who want to take in washing,n
cook, or nurse. Another Instance of
how much this ordinance will be
worth to the town. The other day a
colored woman died of tuberculosis
and she had nursed for a family here
up to a few day before her death.
Awo Instances like that have been
noticed lately. Tinder the present
\rsonai Tfews.
Messrs. Hunter rage, Claude Sherrlll
i uid Chan Page left yesterday to enter
>)ak Ridge Institute.
/
Mr. II. J. Sellers of Ruby, Is a vlslof
in the city to day.
The People's Trust company of Che
n\v has been cbartedfl with a capital of
1/5,000. The officers arc: H. M. Dutll,
president; J. C. Tec ?*' , vice presdent,
and J. H. Wannamaker, secreary
and treasurer.
M %
Messrs. Theodore and Hunter McArn,
Roliert Thrower and Louis Page have
returned to Clemson.
Vy a Stop 's "Pj-e Butter Cake,"
Beats those Mother used to make,
Costs less than the ones you bake.
10 cents at E. J. Waddlll's. Adv.
i Mrs. P. A. Murray, Jr., gave a linen
^uunci x uriMjaj anti nwii 111 uvuy? v?
the bride to be, Mix* Nan Evans.
Miss Katie Harrell entertained last
Friday in honor or the bride to be, Miss
Nan Evans.
Mr. and Mrs. Harper Mcintosh and
little daughter Margaret, of Durham, N.
. C., are visiting relatives in the city*
Ml
Miss Bessie McLean, of Sumter, 8.
r C., visiting relatives in the city.
Miss Dorrls Hartzell leaves tomorrow
. to resume her studies at Winthrop
Miss Dorris graduates this session. '
;
i Hon. and Mrs. W. P. Pollock and
) Misses Laurie Harrall and Hattle Godfrey
spent Sunday last in Wadesboro, ^ ^M
Rev. .T. K. Goode is s]iending somefinie
in Virginia.
I Mrs. Albert James and little daugh \
f ter. of Darlington, are the guests of '
Mrs. F. B. Pegues.
0
Mrs. Bailey and little daughter, of
i Georgetown, S. C., are the guests of
Mrs. Bailey's aunt, Mrs. W. R. Godfrey.
?*
n Tlmmaa a# XT
Hli^? ^-icui xiiuuia^t *?i ^amviut
C., is visiting relatives in town.
000
??
Little Miss Margaret McGregor, of
Columbia. S. C., is visiting her grandmother,
Mrs. Margaret Wells.
Ml
Mrs. Hodges, of Jacksonville, Fla, Is
visiting her mother, Mrs. W. D. Evans.
Mrs. Maggie Mcintosh has returned
from Wrightsville, N. C., where she
spent several days.
000
Mr. Walter Mcintosh, who was
employed at Big Springs during the
summer season, has returned and Is now
with the Chesterfield Grocery Co.
Ml
Rev. A. S. Thomav and family, who
"summered" at Saluda, N. C., have
returned.
IS HAVING GOOD EFFECT.
Lumberton's Ordinance Requiring License
for Cooks and Nurses.
The Lumbertcin Tribune says:
Lumberton's ordinance tequiring
cooks, nurses and washerwomen fto
secure license has already had trenimwi.niciv
"nnil pffwf ivfr_ Arch
lnw that would nor Happen. Ann lr
tin* ordinance did nothing more than
save one child fnno being unrsed by
an unfortunate victim of tubereulo
sis it would ue mure mau wurui
while.
? ?
Mrs. Terrell Covington, of Wades
l)oro. N. (7.. Is visiting her sister, Mrs.
Margaret Wells.
?**
Miss Mary Fannie I/we, of Wadeshoro,
N. C., is the guest of Miss Nora
Stubhfl.
Ml
Master Reid Powe, who lias Ikhmi
spending sometime in Morven, N. C.,
has returned. ,
Mrs. Eugene Wilson and little son are
visiting relatives in Lancaster, S. C.
**
Messrs. R. N. Strtoklin and Walter
Mcintosh spent Sunday near Rockingham,
X. C.
?*
Mrs. H. M. Duvall and little son have
returned from Saluda, where they
spent several weeks.
Cheraw's future depends more largely
on a good produce market now than
almost any other one tiling, except
possibly manufacturing entrprhes
The town is situated in and dependent
ujton an agricultural section and yel
affords an adequate market for only
one agricultural product, namely,
"otton. Kven when cotton is selling at
a fancy price, a cotton market
| amounts to little except for a few
months in the year. Local dealers pay
enough for what produce the frown
consumes, but there is no market for
the surplus raised in the county, and
this surplus is growing larger every
Inyr Thousands of dollars worth of
chickens, eggs. hams. beef, vegetables
are turned away and are sold in other
(daces and ship]ied to foreign murkets.
This should not be so and a live Hoard
of Trade should offer some encouragement
to a dealer who would build tip a
shipping business in this line. The
town is losing a great amount of trade
because of this deficiency and some
thing should be done to remedy it.
Subscribe to the Chronicle only .fl a
year.