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The Expansion of Credit. Frorm the Annual Report of the Federal Reserve Board for the year 1919: "The expansion of credit set in motion by the war must be checked. Credit must be brougt under effective control and its flow be once more regulated and governed with careful regard to the economic welfare of the country ami the needs of its producing industries. TVo-flafinn linuwer. nierelv for the sake of deflation and a speedy return to 'normal'?deflation merely for the sake of re>toring security values and commodity prices to their prewar levels without regard to other consequence*. would be an insensate proceeding in the existing posture of national and world affairs. "It must never be forgotten that productive industry is profoundly affected by credit conditions. Modern business is done on credit. One of its life-giving principles is credit. The mood and temper of the business comninnity are deeply affected by the state of credit and may easily be distuned by ill-considered or precipitate fu A system of credit control always be judged by what it to maintain a healthy condition oi^jRiind on the part of all sections and classes of the producing commuThe ultimate test of the functioning of a credit system must be found in what it does to promote and iwAooce thp nroduction of goods. True IreneraJ, the truth of this observadeserves to be particularly emsized in the present deranged, e of world industry and world le when production is the crying 1 of the hour everywhere. Too rarpid or too drastic deflation Id defeat the very purpose of a regulated credit system by the Jess unsetlement of mind it would uce and the disastrous reaction such unsettlement would have t productive industry. Ladical and drastic deflation is therefore, in contemplation, nor i policy flP further expansion. 5r hi the end lead to^Wbr aI^must not be perxii?rcfe*elop. The credit situain tnl^Wiited StTOs is at bottom stathd and safe. Our economic and financial position is essentially strong, 'ftere need be no occasion for appre- , hjeasionas to our ^ffect the ! tjj^isition f^otn' S\"ar-tWe i6 peace- i time conditions i if reasonable safe- j guards against the a&use of credit j are rarspected. Thehe is, however, j no need for precipitate action or ex- I treme ' measures. 1 J^tremesr. tnuet he J avoided, the* process of* adjdstfng' fhfe J v^fume, of Ojedifc tp a normal^ basis j nar, aro ces as they develop, ^Juch U ftt 9&^eii^ ?n the- co oywition .of'Aha* htwaafla* . general community. Indeed with- ' eM such co-operation progress can be i nwther rapid nor substantial. Much depend also upon the rapidity tjgfth which the unabsorbed portion of the outstanding issues of war securipasses into the hands of permar holders. As the national debt is tfos absorbed and as it is reduced jdfccrete things, which credit helps lift*'produce and which are the nornial hfc?is of credit, is reatprad. This eqfcit^hrium, it can not ^fftol inkiuegtly Stoo emphaticallyfis^dj tqpfht fered only by speeding up the Jfro$Qse& of production, by the orderly 3itribution of goods, by the avoidance j ' wasteful consumption, and by the I increased accumulation of savings, j 5ftese ale the fundamental ecanojnip j processes upon which the proper func- ' Jtyning of the Federal Reserve Banks Wrtist dependi Tlie-' federal 'Reserve $jstem can do much to assist these ' .'jjojocesses but it cannot of itself and ^ 'aftrae compel them. Efficacious ac- i *50n along these lines involves the in- j / i iejligent and earnest co-operation 01 : We business and goneraT 'ajblbit?n3tyj rftfhile the Federal Reserve Board will j ?tyvays be mindful of the interdepend- j "i$ce of (jredit and industry and of the j jrffluence exerted <m prices b.V the general volume of credit, the Board \ j^vertheness cannot assume to be an. I '^fbiter of industry or prices. Its pri- j **ary duty, as the guardian of the ( ^tioTi'S Ultimate banking heserve, d3 ;'lb see that the bank:: under its super- ! feiod ftp^tion jtffefttfvely. and prqpeiv j.iy as reserve banks." NOTICE OF APPLICATION FOR FINAL DISCHARGE Vf1 VjNotice is hereby given that on the vtth day of July, 1920, I will apply to P. M. Brockinton, Probate Judge of Williamsburg County, for Letters Dis(-inissory as Administratrix of the Estate of W. W. Kennedy, deceased. *ur*a Malaria, fje"ver, Billious Fever, Colds and Lam causes the fever. It u a splendfa laxative and general tonic.?Adv. Bank Vice Tells How Ziron Iron Toi After Operation J AFTER any serious illness, the first thing you notice when you begin to get around is your lack of strength and energy?a tired, weak feeling. The sooner you get your strength back the better. The thing to do is ' to eat plenty of good, nourishing food, get all the fresh air you can, exercise ] conservatively, and take Ziron Iron Tonic three times a day. J Your doctor will tell you this is , sound advice, and urge you to follow it < To Keep Am on the For the first time since the merchant marine. It cost us $ The farmer, manufacturer, interested in holding our posit As a first step In this direct! those articles of existing comi operated to thwart the upbulldli By giving the notice of terml: treaties provide. This action is directed in th< now before Congress; Which declares it t? be the "te' do whatever may be nec courage" a merchant marine. This policy deserves the sup Lacking this support the pre merchant marine may suffer t attempts of tho past 8ond for a copy of "For an A Committee of Amei 30 CHURCH STREET, MIE LI.? M ii I... jna | SUNDAY EXCURSION | Affording an Excellent I the Sea; 1 Effective June 6, to Se | Round Trip If* I Fare From MllgS I Proportionate Fares E * Poinl | Baggage will not be che a and they will not be 1 | or parloi Schedule Lv. Kingstree, 8:22 ? Ar. Charleston, 10? Schedules I Lv. Charleston, 8:2( Jw wwularsresar< Excursion Fares, apply 1 et Agent, Kingstree, S. jWl jf Craig, fi l^afes. Traf. Mgr. Wilmingtc ATLANTIC C The Standard Eaili 1 i * MMMia^ m m bsi lUNDE R1 | i anc I UNDERTAER'S SjlPPL Coffins an 1 Wtth or Without: Can. iurjiish and deli county. Prices range fro T^vmrmf ?pvvipps T'PTl t done on sho numbers f)l and 17. I represent two flora Inish cut flowers an(JjEtui notice. _ M^TALTC CASKETS. 1 COP ; -President nic Helped His Daughter (or Appendicitis. Read this letter from Mr. J. B. Kelly, rice-president of the First National Bank, Graceville, Fla.: "My daughter had been in bad health since last AprlL She was operated on for appendicitis. She has been taking Zlron for two weeks. Her appetite is better than It has been. Her nerres are better, and Bhe says she feels better ... I know that Ziron is good for weak and feeble people." Ziron is a scientific, reconstructive tonic, prepared from valuable strengthbuilding ingredients, for weak people with thin blood. Druggists sell Zlron >n a money-back guarantee. Try it erican Ships Seas Civil War we have a real 3,000,060,000 to get it laborer?every American la ion on the seas. on It is necessary to modify nercial treaties which have ng of our merchant marine? nation for which the several i constructive Shipping Bill policy of the/United States essary to develop and eniport of every American. (sent effort to maintain our he fate of many Ineffective kmariean Merchant Marine." rican Shipbuilders NEW YORK CITY 4 TO CHARLESTON I Opportunity to Visit | shore. pt. 5, 1920, inclusive. ? Limited to ? Cr6C Date of Sale. 1 I iv/i II JLU wm mvmwvv ts. scked on these tickets lonored in sleeping : cars. ' s Going a. m.?10:47 a. in. *5 a m.?1:05 p. m. Returning 1 ) p. m.?3:50 p. m. p m.?5:58 p. m. ling regular Summer :o J. M. Harden, TickC. T. C. White, Genl. Pass. Agent, m, N C. OAST LINE oad of the South 6-3-3t. t . in. Be. MnNBUMHaHnHMnnni akin;GJ [ % * J A ALL KINDS! f d Spaskets ? Be^emce. vo^ianywhere in the | m $4* 00 to 3.50. I ,!<! : dered d&y^oj5. night. rt notice. Telephone |? 1 houses and can fiir-r ieral desi^v^shprt-; PER and METAL VAULTS 3'Oil1** fitfra.i*;} sJtRtFJtfSilfi-Iii: i?- vn i .... ; McCormick Mowers and Rakes?the old reliable kind We have them. Call j on us. Williamsburg Live Stock | Co.?Adv. 2t. i EC2EN1S) NONET BACK without queetiooifHunt'*Sale*, fiili io the treatment of Itwn, f. iffflH Tetter. Ringworm, Itch, etx.^mgfWW I Doo't become discouraged be- a f / cause other treatment* failed. I ^x.f / Hunt'* Salva has relieved bua- Wf 0 # dredt of such ca?e*. Youcaa't %tTf # lose on our Monty Back ? Guarantee. Try it at our risk ? TODAY Price 75c at W. V. Broc king ton, M. D. J I Old Folk's Best Friend j That's what many call it, j for it puts vim and vigor into 1 old stomachs; rich, red blood into I old veins; sound flesh on old bones. Drink a glass of this delicious digestant with each meat Shivar Ale PURE DIGESTIVE AROMATICS WITH SHIVAR MINERAL WATER AND GINGER Your grocer or druggist will refund your money on first dozen if you are not pleased with results. If your regular dealer cannot supply you telephone NESMITH-FLOWERS COMPANK, Distributors, Kingstree, S. C. HANDS. ARMS, UW ASLEEP Aad Was Rim-Down, Weak and Nervous, Says Florida Lady. Five Bottles of Cardu Hade Her Well Kathleen. Fla.?Mrs. Dallas Prine, of this place. Bays: "After the birth of my last child...I got very much run-down and weakened, so much that I could hardly do anything at alL I was so awfully nervous that I could scarcely endure the leasi noise. My condition was getting worse all the time... I knew I must hare some relief or I would soon be in the bed and in a serious condition for I felt so badly and was so nervous and weak I could hardly live. My husband asked Dr. about my taking Card::l. lie said, 'It's a good medicine, and good for that trouble', so he got me 5 bottles... After about the second bottle I icit gr^iiy Jiuyruveu,..ueiore laKJiis; It my limbs and hands and arms would go to sleep. After taking it, however, this poor circulation disappeared. My strength came back to me. and I was soon on the road to health. After the use of about 5 bottles, I could do all my house-work and attend to my six children be sides." Ton can feel safe in giving Cardul a thorough trial for your troubles. It contains no harmful or habit-forming drugs, but Is composed of mild, vegetable, medicinal Ingredients with no tf d aftereffects. Thousands of women ' ave voluntarily written, telling of the mod Cardul has done them. It ?bnda help yon. too. Try it : E 74 r? 1 (Dealer Wanted In \ ^hcrard Brothers Motor Compa 1920 to sell Davis Cars in Abbt had never been engaged in the aut Six had never been represented th'ers have a record 6f Fifteen*!)^ have established a highly respect ?| What thiese two progressive yii g beville, you can, do m your couh g large capital are not necessary f^i . Get in touch with us at once, i* ?8 prosperous business of your own, I DAVIS M jf 1903 Main Street. ,?i.I MMBMflMBI&iflliflttflHQMflMMHMBttfllHBI {Carolina B; I I No. 2291/a Main St., " Upstairs Over the " All makes of Auton " T)1 n it rl Wl 1 OCC I JL iClHLk> ClllU ITilUCOO J. V " built,'repaired and char | utors for the Electrolvt | battery 011 the market w a carrying an unconditioi I Manufacturers .for 18 | water and inspection fr The Old Reliable Count1 Why do Fret at Night Grown-ups, with their mat how slight disturbances break child shows a tendency to tc if there isn't a slight squeak, ratrle o * Thousands of children have be< and health by substituting a sturdy Si < noisy sort of crib. a Simmons Crib is noiseless. I tie or sway to disturb the little sleep The Simmons Steel Crib illusc how the Simmons principle of Bui Its parts are fitted as ' /far n t ' snugly and noiselessly as : - - ; those of a Simmons Bed. Finished in smooth, satiny white, harmoniz- I ,, ing nicely with modern , *- ^ nursery decorations. ' | ^ Come in and see these new Cribs. You will surely find what you want and the prices will surprise and please you. SI KINGSTREE PUI Kingstree, SIMMON Built for Viiliamsburg County. ,ny was organized on January 17th iville County. These two brothesr omobile business before. The Davis in Abbeville before. Sherard Broris Cars handled since that date and ed and prosperous business, mg business men have done in Abr Qe?fcr{#cje4i wfiMfre rW^S^] cuiV-4irD?lisW^i<^r^n^rWre V. ' ? ) .3 rMRTW/HX QTSB COMPA JBWl? *? attery Co. * , Kingstree, S. C. Express Office. f lobile, Farm Lighting degraph batteries re ged. We are distrib;e Battery. The only ithout separators and rial guarantee by the Months. Distilled ee. 6-3-8tp y Record?1.50 the Year C^HLaw^MjUilBfi Jw Tired ontn, often fail to realise ; a child's re*. When a healthy m or whimper in its sleep, see r unsteadiness in its crib. i en benefited in temper, nerves fl mmons Crib for the antiquated, j t sands solid and firm?no rater. rated is a splendid example of It for Sleep is applied\> cribs. EEL CRIB-No. 246 ' ! LNITURE CO., s. c. . S BEDS Sleep *L I ' :rM M Davis I Six S )lflr )*//. noN|il?r:!'( 1? >NY,. inc., 1 COLUMBIA, S.C if