The Bamberg herald. (Bamberg, S.C.) 1891-1972, July 03, 1919, Page 6, Image 6
INCOMPREHENSIBLE
EFFECTS OF WAR.
(Continued from'page 2, column 2.)
Inflation based on world: Currency,
$6 to $1; bonds, $5.50 to $1; deposits,
, $3 to $1.
We are on the eve of the greatest
prosperity 'that has ever come to any
country. There will be an enormous
^demand for all jmmoditles. The result
of this demand, added to the
enormous inflation, will bring prices
for commodities undreamt of. This
inflation will last until the present
generation will have long passed. It
is a law of economics which is as unchangeable
as the law of gravitation.
The increase in circulation decreases
the purchasing power of the 'dollar, in
like proportion, and in like manner,
the- decrease in circulation increases
the purchasing power of the dollar.
On the basis of this law, the increase
in circulation is six to one ($4S,000,000.000
aga'nst $S,000,000,000): ap1
plying this to cotton, which was bringing
13.cents prior to the war today, if
there were the same supply and the
same demand, it would be six times
as much, which would be 7S cents.
However, the bonds of the world have
increased from ?40,000.000.000 to
$220,000,000,000, which increases
the bonds from five and a h^lf to one.
Deposits have been increased from
$25,000,000,000 to $75,000,000,000,
which increases deposits three to one.
Today the bonds and the deposits
have a marked effect upon inflation,
greatly increasing some so that inflation
is above that shown by the currency.
Price Advances Were World Wide.
One of the best authorities has
stated:
"Raw silk, for example, for which
the war made no special demand and
which was produced on the side of
the globe opposite that in which the
hostilities were occurring, advanced
from $3 per pound in the country of
production "n 1913 to $4.50 per pound
in 1917, and over $6 per pound in the
closing months of . the war. Manila
horn alcA rm thp nnnnsifp
side of the globe and not a war requirement,
advanced in the country
of production from $180 per ton in
1913 to $437 per ton in 1918. Mechanically
ground wood pulp, not a
war requirement, advanced as our
publishers are aware, from $14 per
ton in the opening months of the war
to $33 per ton in the opening months
of 1918, and the grade known as
"chemical bleached" advanced from
$50 per ton at the beginning of the
> war to 81 60 per ton in January, 1919.
Goat skins, from China, led-'a. Mexico
and South America advanced from 25
cents per pound in 1914 to 50 cents
per pound in 1918, and yet goat skins
were in no sense a special requirement
of the war. Pig tin, produced by
Chinest labor in the Malayan Peninsula
and the Dutch East Indies and not
to a very great extent a war requirement,
sold in the country of
production in 1914 at 30 cents per
pound and in the same markets 75
cents per pound in the clpsing weeks
of the war. Sisal grass produced in
Yucatan advanced from $100 per ton
in 1914 at the place of production to
nearly $400 per ton in 1918, and
Egyptian cotton, a high priced product
and thus not used for war purposes,
jumped from 14 cents per
pound in Egypt in 1914 to 35 cents
per pound in 1918. Even the product
of the diamond mines of South Africa
advanced from 60x to 100 per cent in
price per karat when compared with
nrices existing in the opening months
of the war. The prices which have
been quoted are in all cases those in
the markets of the country in which
the articles were produced and in
most cases at points on the globe far
distant from that in which the war
was being waged. They are the product
of countries having a plentiful
supply of cheap labor and upon which
there was no demand for men for
service in the war. The advance in
the prices quoted is in no sense diu
to the high cost of ocean transportation
since they are the prices demanded
and obtained in the market:
of the country of production/'
? The following table gives a wid<
list of representative commoditiei
and the percentage of their advance
over the 1913 level as reported b:
Bradstreet:
Com- Advance P. C
modity. Over 1913.
Wheat 141
'Corn 125
Hogs 152
Beef cattle 106
Wool 243
Brick 116
Leather 108
Hemp 162
ViKI 1 1 Q
r ui a, uui?. ---- - - v
Beef, bbl 121
One of the leading students on thi
question states:
"After the signing of the peac
treaty, when the world turns its at
tention to commerce, and every gov
ernment in the world is planning t
use every means possible to induce th
people to become as intensely busy a
possible, for the purpose of furnish
ing them with means for earning
SENDS SHIP'S RECOIll).
' Lieut. C. F. Martin, I'. S. X., BlackviUe,
Edits Booklet.^
.,
i
Blackville, June 27.?Mr. and Mrs.
C. J. Martin have received a booklet
' from their son. C. F. Martin, lieutenant,
U. S. X., U. S. S. Wyoming,
describing and illustrating what the
Wyoming did from the time she left
Lynnhaven Roads, under sealed orders
on November 2k, 1917. in company
with her sister ships to become
the sixth battle squadron of the Grand
Fleet. The idea of the booklet was
to have a certain record of the 12
months in the war zone. The ship's
j booklet is the first one of its kind
1 ever put out. Lieut. Martin was ap|
pointed by special request as editor
I in chief and with his able staff of I
I !
| editors worked out a creditable and
valuable ship's book.
Lieut. Martin has been recommend-!
ed by Admiral Wiley for the navy
cross for skillful performance of duty, j
ability, devotion to duty and marked I
coolness under fire. His friends will
be pleased to learn of this honor
which has come to Lieut. Martin. He
attended the Blackville Graded
school. College of Charleston and
United States Naval Academy.
livelihood, stopping their unrest, for
furnishing them with revenue to pay
the government's taxes, which will
furnish the government with resources
for; paying their enormous war
debts, it is then that tlie price of
commodities will commence to soar.
It will be impossible for America not
to become intensely wealthy. One of
the great dangers will be excess
wealth. Many commodities are be-1
low a fair price based on inflation and |
demand. Cotton will in all probabili fi
el-inn- a crraator rico in nrirp n<; n I
result of inflation and actual demand
in excess of supply, than almost any
other commodity.
Never again will you see cheap labor.
Never again will the present
generation see cheap commodities.
This is the time to buy, build .and
boost. As a result of an investigation
by experts on European condiV
tions it is found that the European
demand for cotton will be so great
that provided financial arrangements
and transportation facilities can be
arranged, Europe will use every bale
of cotton now in America, plus every
bale that will be made from the crop
of 1919. Europe today is paying from
42 cents to 45 cents per pound, basis
middling, for cotton, and in a recent
statement from the mills it is shown
that the earnings of the mills of
Europe for the first five months of
1919 exceed the fabulous earnings of
any similar period during the war.
Reports ar^ now making all detailed
arrangements in Europe for
financial credits for the purchase of
cotton as well as other commodities.
Cotton failed to bring anything like
a fair value during the war. One of
the leading officials of the National
Spinners' Association in a public address
stated that the manufacturers
could have paid 30 cents per pound,
basis middling, for every pound of
cotton since 1914 and still made a
j fair profit. A leading official of the
:Manufacturers' Association, one of the
most reliable and high toned gentlemen
in America, stated that the mills
the country, requesting that they
| could have paid 75 ecnts p6r pound,
|basis middling, for cotton during the
early fall of 191S. Inquiries sent recently
to a number of the leading
manufacturers in various sections of
the country, r equesting that they
state at what price cotton could be
jused. basis middling, and still show a
| fair profit, resulted in replies showing
' | that mills can use cotton at a figure
jas high as 65 cents per pound, based
' on the present price offered for the
j manufactured product, and still make
1 a fair profit.
' J The stock for the American Cotton
'.Export Finance Corporation is now
'jbeing rapidly placed: the officials of
'.the corporation have been elected, it
"jbeing headed by one of the leading
5imen of the South. W. P. G. Harding
] of the federal reserve board. This
- j corporation will be in active opera5;tion
long before the new crop comes
- -j in. Demand for manufactured goods
7 i as well as for raw cotton will go un
satisfied, regardless of price. Before
this time next year the present supply
of cotton plus cotton from the
growing crop will have been exhausted.
We are facing the smallest
cotton crop produced in a decade, and
with the greatest demand ever recorded.
With the organization of the American
Cotton Association, and with the
improved methods which have been
put into operation for the handling
of cotton, including representation in
s all cotton purchasing countries of the
I world, the cotton producer of the
e I South is in an entirely different nosijtion.
His cotton will he handled on a
-j strictly business basis, and if he holds
0 his cotton, he will receive the highest
e price ever paid for cotton since it was
s first introduced in America: certainly
t-1 the highest price since the War Bea
jtween the States.
KELLOGG'S RICE
FLAKE BISCUIT
AN IDEAL BREAKFAST FOOD
I
Kellogg's Rice Flakes
Kellogg's Beans
I |
I
PHONE 15
TOM DUCKER
BAMBERG, S. C.
UUZ# JlWIi
DOX'T SWELTER OX "THE r
FOURTH."
COME IX XOW. AXD SUPPLY
YOURSELF WITH COOL OUTIXG
TOGS AXD THIXGS.
WE HAVE COOL THIXGS FOR
WARM DAYS, FOR BOTH MEX, WOMEX
AXD CHILDREX, AXD WE
SELL THEM AT SUCH FAIR AXD
i A CUSTOMER FOR ALL TIME
x SQUARE PRICES THAT WE MAKE
WHEX WE MAKE OUR VERY
FIRST SALE.
WE WAXT TO SEE "YOU" IX
OUR STORE.
H. C. Folk Co.
BAMBERG, S. C.
i ^78
Horses and Mules
We have a full stock on hand of Horses
and Mules. Our stock is selected personally
bv a member of our firm, and
each animal sold lia^ tl:? Jones Bros.'
guarantee?and you know what, that
means. When you need a horse or mule,
don't*fail to come to our stable. We
will take pleasure in showing you. Our
stock is always in good condition?they
I are bought sound and sold sound.
BUGGIES, WAGONS, HARNESS, WHIPS, ETC.
We have a splendid line of Buggies,
Wagons, Harness, Lap Robes, Whips,
Etc. We have a number of styles in
Buggies and Harness, and we can suit
you. We handle only the best vehicles
to be had, and our prices are always
right. Come to see us; you are always
welcome.
Jones Bros.
RAILROAD AVENUE BAMBERG, S. C.
'
HORSE RACING, JULY 4,1919, ORANGEBURG, S. C.
Twenty-five of the best horses in the State will race at Orangeburg
Fair Grounds July Fourth at 3 p. m. Trotting, pacing and free-for-all.
Open to any horse of the State. Purse of $150 for each race. Money divided
three ways.
Track in Excellent Condition
Orangeburg will show all visitors a royal good time and urgently, request
them to be present and witness some extra fine feats of thp horse
flesh. For particulars write \V. R. SYMMES, Secretary, St. Matthews, S. C.
Entries close 12 m., July 3, 1919.
Tri-County Racing Association
A A A A A A A A A A A A A A A A A A A A A A A A A A
X Wanted, A Farm Y
y ' *
From one hundred to 1,00acres in Bamberg county.. Please
4^> state number acres cleared, public roads running through place
^ and all about the buildings, quality of soil, etc. Want to buy now ^
4 and take possession after crops have been gathered. Name the ^
Y best price. Y
Y Y
Y Box 226* Norway, S. C. Y
Y Y
ly ^ <+> "^7
:! Your Battery I
A !
A A
A May need charging or maybe the generator is not t
A keeping up the battery. Your battery, like tires, jf ,
A maybe worn out and you need a new one. I can fix ?
A ^ie generator, recharge the battery, or if you need A
A a new battery, I have it. Prompt service, right A
prices. Columbia storage battery to fit any car. ^
| WILLIAM H. PATRICK GARAGE |
WE ARE HERE TO SERVE THE PUBLIC
" And Invite Yon to Become One of Oar Regular Customers
Why not make this bank your
bank? Make use of our Bank Account
Plan; take advantage of our
facilities and equipment for the bet
ter protection Oi your income aiiu
creating a reserve fund for future \
use. ,
I
Enterprise Bank
BAMBERO, S. C.
H. M. GRAHAM, DR. ROBT. BLACK, W. D. COLEMAN,
President Vice President Cashier
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1*3 The Greatest Name in Goody-Land ||*|jf
II You know the 1M
I realm of child- |]
?j| - , . flood dreams |i
|| / ^ 3 'and 1
Make some ?* ?
*hose dreams 1
j a delightful B ' ,
ifev reality by |<
taking home j;
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frequenttv' 8
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