Decatur Daily Democrat, Volume 21, Number 159, Decatur, Adams County, 6 July 1923 — Page 8

T - EDISON-FORD PLAN UNFAIR TO FARMER Third Article Shows How Credit Test Would Fail Him in His Need. The unfairness to the farmer of the Edison Ford ‘'commodity money ' si heme, although ostensibly aimed to improve his economic position, Is discussed in the present article, which is tt»e third In a series prepared by the American Bankers Association, reviewing the exposure of the weaknesses of the plan as presented by William T. Foster, Director of the Follack Foundation for Economic Research. Briefly, the plan, sponsored by Thomas Edison and Henry Ford, would provide for Government warehousing of baste commodities, against which cur rency would be loaned, during storage, to the producer without interest, up to half the average value of the products for the previous twenty-five years. On the other half of the value the producer would receive certificates which he could sell or use for bank loans. Restricted Credit In that provision allowing for Government loans only up to half the average value for twenty-five years Mr. Foster finds particular weakness in the scheme. He points out that prices have risen so high sins* 1896 that the farmer could borrow on most products much less than half the present value of the products —much less, in fact, than he could borrow directly from the banks. Loans on the other half the value, which would *6 on virtually a second mortgage basis, he Bays, would not be desirable for the banks. "The plan is not fair even to farmers; it Involves unjust discrimination,” Mr. Foster says. "The Edison plan fixes the loan values of all products absolutely, uniformly and arbitrarily. It Ignores the relative prospects of different commodity markets. Only by the merest chance would such a method give a fair loan valuation. Fifty per cent of the average price for the previous twenty-five years would be too high for some commodities and too low for most of them. With such details the Edison plan is not concerned. Banks Fairer to Farmers “The general practice of the banks Is not only fairer to farmers, but it is sounder business. There is no justification for basing the loan value of anything upon average prices in past years. Sound banking practice looks to the future. A baAk—for the protection of its depositors, if for no other reason must consider abu*e everything the prospects of getting its money back. And a farmer's prospects of repaying a loan from the sale of his product depend entirely on fu- ’ turn prices, not at all on past prices. | Last year's runs do not count in this ' year's game.” As to the claim that the Edison plan would curb speculation in farm , products, Mr. Foster says: “There is nothing in the Edison plan that would tend to abolish speculation. Even after the farmer had stored his products and obtained a loan from the Government, he would still be free to sell his products outright to speculators. The farmer would have all the Inducements to sell that he has today, and speculators would have all the inducements to buy. "Clearly, then, the Edison plan would not provide a money that is Bounder than gold money; it would not provide a money less subject to fluctuation in value; it would not enatle farmers to obtain larger loans than they can now obtain; it would not divorce agriculture from the banking system; and it would not eliminate speculation in farm products.” PAPER MONEY PIPE DREAMS By JOHN OAKWOOD Hitting the pipe seems like the greatest way in the world to get something for nothing,—a whole paradise full of joy for a few whiffs of opium smoke. But — • • • By the way, the big lure about flat money is that it seems to promise about as much for nothing as a whiff on the pipe. They are just coming out of such a dream now in Germany. • • • Here is the way that German soft money dream goes. Say in 1913 a man put a ten year mortgage for 20,000 marks on his farm. Marks were then worth, in gold, about four to the dollar. The debt, therefore, was equivalent to about $5,000. • • • In the ten years since that debt was contracted, the German Government has published, so to speak, trillions of paper marks. What happened? What would happen to the price of eggs if they had a hen at Washington laying a billion eggs a day,—even if they put a government stamp on them saying eggs were worth a quarter a piece? German marks have gone down from four to the dollar to 120,000 to the dollar. * • • Hera is whare the pipe dream gets

particularly good. The 1913 mortgage Is now due. —20 000 marks are to be paid. Marks are quoted 120.00(1 ) to the dollar. Twenty-thousand I marks, one-sixth of that, therefore equal one-sixth of a dollar,—l® 3 3 cents. On the theory that "a mark tls a mark," the debtor could wipe off his $5,0u0 mortgage for 10 2 3 cents,— less than the value of a dozen eggs. • • • That is, he can unless the pipe dream comes to a sudden end. For f one thing the German courts are rul- ■ iug that the theory "a murk is a mark” t ! doesn't go,—that a debtor has to give I back a fair equivalent for what he reI celved and that present paper marks 1 worth 120,000 to the dollar are not 1 the fair equivalent of former gold ' marks at four to the dollar. • • • ' Furthermore all pipe dreams are > | too good to be true. They are not what they seem. The smoke is wear- . Ing off in Germany and they are coming down to earth with a dull thud. It Is beginning to be realized that the j net result of a paper money nighti mare is that producers are robbed | and speculators enriched. Farmers ■ are unable to raise prices for their > ; products fast enough to keep up with the falling purchasing power of un- ■ sound money. The value of such money slips away from them like a | handful of dry sand. It brings back , to them less in' purchases than they gave of their products to get it. The farmer as a result can't make ends meet and when he gets into difficulties the unsound money speculator steps in and buys up mortgaged i farm lands cheap—and thus it is mostly the specclator who profits by paying off the mortgages with cur- , rency worth less than a dozen <gs, — unless the courts stop him. « » * More than that, if farm mortgage debt can be paid off with almost worthless currency, so can corpora tions pay off their bonded debt. —the bonds in which many a farmer's savings, and many a widow’s and orphan’s inheritance, are invested. • * • Before the war, with marks worth I 24 cents gold, the deposits of the I thrifty in German savings banks were j worth over five billion dollars. Today, although these deposits have multiI plied many fofll in terms of marks, their real value is only about half a million dollars gold. That is what a . “loose money” plan does for common ' folks. Pipe drcams are wonderful while ' they last —but shattered health, misery and despair are the final penalty The ones who profit are the dope sellers. Unsound money is a pipa dream—and the penalty is economic ruin, misery and despair for the majority. The ones who profit are the speculators. “JUST LIKE DADDY," AN ECONOMIC FORCE By J. H. PUELICHER President the American Bankers Association. — “Like Daddy” X' . —t h e s e two A words, that ex press the imltar Jp* tlve nalu r e ol children, occur to T* nie a8 1 thin ' t our parental responsibilities 1 n respect to both J. H. Puelicher the thriftiness and the thriftless- : ness of our boys and girls. The I accent belongs on both aspects of the case, for we have yet to find a person who is the perfect example of thr ft. Even Ben Franklin admitted his lack of attainment after his years of self-admonishment and self-criticism —and his temptations were not so great as those of today. Every reader 1 will admit his deficiency in thrift. So will 1. And what of our children? Will they copy us? Will their attitude toward thrift be “like Daddy's?” Will it be thrifty or thriftless? It will at least be largely influenced by it. The thrift of the next genera- I tion is in the hands of the present. If our children are “out of band” on their habits, whom have we to blame but ourselves? Remember this: The next genera tion will be subject to the same laws of economics, the same rules of sue cess, the same principles of happi. ness, as prevail today. A habit ol thrift is one of the best possible char acteristics we can mould into out children's natures during their habit forming years. Its value will be ap parent throughout maturity, whatever their lot, whether at the helm of large enterprise or steering the more hum ble affairs of a home. Thrift will be the basic principle In the economic life of our nation ami lt» system of producing and exchang ing commodities. Thrift is always both of social and of individual advan trfge. Each day finds us expanding both in breadth and in depth of our resources of enjoyment and our opportunities for service as we practice thrift. But how shall we bring ahout habits of thrift? Is there any other way than by teaching, whether by direct precept or by the unconscious exampl. of our own habits, continually impressing themselves on the receptive minds of the young? “Like Daddy" expresses one of the most powerful social and economic farces there Is.

DECATUR DAILY DEMOCRAT. FRIDAY, JULY 6, 1923

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"I HEAR YO' CALLIN' ME” It it Estimated that 100,000 Nearoes Have Left the Farm Districts of the South for Industrial Plants in the North —Journal of the American Bankers Aswlatt-n.

THE SECRET OF BUY SOME MEN OBTAIN CREDIT, BUT OTHERS CWT

Various Meanings of Credit—The Way Character Begets Confidence and Opens the Way to Trust—Thrift and Honesty the Basis of Banking.

The secret of why some men can readily obtain credit, while others are unable to borrow a cent, is disclosed in the present article prepared by the Committee on Public Education of the American Bankers Association. It tells an interesting itory of how a man of forty, of good reputation and fair success, was nonplussed by his inability to borrow and had to pass up a good opportunity.

Hanks are said to deal in credit. [ The word “credit" has various mean- | ings. When you deposit money, your ! account receives "credit” for that amount. When a man borrows money on his note at the bank, he is granted “credit.” When a railroad, a manufacturing wavtfii, a town, or a gov- ' eminent. Issues bonds, it uses its I “credit." When anyone buys goods I without paying cash, at the time of 1 purchase, “credit” is granted. With out credit, our* present day busyness i system could not exist. Credit is possible only where people have confidence in each other, i and confidence can exist only .where ; good character exists. Every success tul business man looks upon his credit standing as a most valuable asset, and he maintains it by square dealing. To get credit a man must pay his debts, or it soon becomes known he is not of good character and not worthy of confidence. Those from whom he would buy refuse to trust him and the banks decline to grant him credit. Then come business failure and a long uphill fight to get on his feet again ] and live down the past. More Than Honesty Needed Honesty is not the only factor involved In credit. For instance, Mr. Jones, a man of forty, of excellent morals, who has enjoyed a fair income for many years, sees an opportunity to purchase a business. Ho | requires financial assistance. He calls on a banker and asks for the necessary credit. The banker asks the nature of the business, what it will cost, and what Mr. Jones can command in ready money, or other resources, but learns that he has no money or propI erty of his own. It is clear that Mr. Jones lacks ability to manage his affairs wisely. He has not had enough strength of character to save money by adapting expenses to income, and therefore has not proved that he could make financial progress. Moreover, if men do not invest some of their own money in the business they usually lack Incentive and become easily discouraged. It would be unwise for anyone to assume such a financial risk, and Mr. Jones probably would fail to get credit from the bank. He must give up his opportunity to some one else who has saved money. Banks are public servants, but that does not obligate them to serve those who are unfair in business or lacking in the great principles underlying success. To be known as a careful and thrifty person is the best assurance that the bank will extend financial help when needed. Many people think that one should shun debt like the measles. They fall to distinguish between wise and 1 unwise debt. It is wise to use credit, that is. go into debt, to buy a home. Such debt encourages thrift. A student may wisely borrow money, needed to complete bis education. It is an investment that should pay dividends in greater success. Another wise use of credit Is borrowing to buy good bonds, such as Liberty Bonds, paying S2O down, borrowint '

I SSO from the bank, and paying it ofi o"t of savings. When to Shun Debt There are circumstances, however under which one should never borrow money. Never incur a debt in a spec ulative venture. OF THE PEOPLB WHO SPECULATE, NINETY Fl Vi! PER CENT LOSE. Neither shonlc' debts he incurred to purchase plea sure-giving possessions. Such debts are millstones around the necks of countless families. Progressive banks adhere to the same standards they exact of theii patrons. Their business methods must be beyond reproach. They ex , elude business of doubtful reputation and have no part in the feverish struggle tor sudden wealth. Well managed banks are regarded with great respect, and hold a place of ever increasing importance. Some thoughtless persons criticize banks for not making loans more freely but it must be remembered that a bank's business is to receive deposits as well as to grant loans and it is therefore the trustee of money belonging to others. It must safeguard its depositors' funds ami so control them as to be always ready to return them intact upon demand That requires great care in granting i credits. THE MORTALITY OF SAVINGS ACCOUNTS The Savings Banks Association ol Massachusetts has issued a tabulation made by a mutual savings bank in an average New England town showing that, of the accounts opened during a six months period, 85 to 90 per cent were open at the end of the period. At the end of the next six months .about 70 per cent were open. At the i end of one year about 60 per cem | were open; at the end of 18 months about 55 per cent; at the end of three years about 50 per cent; and then the figure rather steadily declined by 2 to 3 per cent of the original number each year. At the end of ten years about 25 per cent of the accounts were still open. After that the changes were very small, mostly on account of death Federal Reserve Copied Peru is the first country in Latin America to reorganize its banking system according to Federal Reserve principles by the enactment of the Federal Reserve Act of Peru to develop the country’s resources along modern lines of financing. Peru’s new banking system is modeled after the United States Federal Reserve, with modifications such as the banking conditions and general financial sit uation there require. It provides for the creation of a Federal Reserve Bank in Peru. The directorate of this bank is to be composed of nine mem bers, three of whom are to be desk: nated by the Government and the ■ i othef six are to be elected by th._ t ' member banks.

CHICAGO MARKET CLOSE I Wheat: July $1.03% 1. Sept. $1.04% Dec $1.06%. Corn: July 30c; Sept 74%c; Dee 62%c. Oats: July ss%c S« pt. 35c; Dec. 36%c, TO REOPEN BARBER SHOP I will reopen my barber shop at the Murray Hotel next Monday and will appreciate the patronage of old and new customers. 169t2x NICK MILLER. o aooocjooooocnjaoooeooooooooo HOW TO SAVE MONEY WHEN SHOPPING By MRS. HARLAND H. ALLEN oqoooooooooooooooooooooooo <4). »»«. Hallamt H. Alltn ) CHILDREN’S CLOTHES "I wonder what bus the mutter with Mary's last dress? It simply didn't ; wear at all." How often we heur moth' . era making statements like that. Clothes for children, when you con- | aider the hard wear to which they urs ’ subjected, and the frequency with j which they must be replaced, are Just | as significant an Item of expense ui j our own, and a few suggestions about I their choice and care may help you to ! buy’wisely. Material for children's dresses should J be chosen for endurance and fast color. A child’s dress needs frequent washing, and for that reason most mother-t , prefer cotton to many other materials. As a general rule, materials that are yarn-dyed, such as gingham, chain- ' bray, and some cotton crepes, will bo less likely to fade than "print" goods, unless they are especially well woven and printed in very fast colors. ■ Little children are apt to get spots on their clothing, and so a fabric that can be easily and quickly sponged oft with soup and water is much better than one where the whole garment has , to go Into the laundry each time. In making or buying a child's dress you should always consider the amount of time ft will require in the tub. Lightweight goods are easier to wash than heavy ones, and loosely-woven materials than those solid and tightly , woverf; fancy trimmings and cheap lace 1 take time and soon wear out. In general. wool does not wash so easily us • cotton, but all-wool serges ot' firm weave wash well. To cut down the laundry, mothers are using to an hicreasing extent the attractively simple And crinkly seersuckers and crepes, which do not require Ironing after washing. A child’s clothing should never be too goes! to play in. hut this does not ‘ mean that the frocks should be ugly. Children are very sensitive to gay 1 colors nnd pretty clothes, and if dressed '■ in ugly, drub garments are sure to grow timid and sullen In company with their bright, prettily dressed playmates. As little folks outgrow their garments 1 quickly, only a few at a time, to be worn frequently. Is the (test plan. ■ Dresses for little girls should have ■ bloomers of matching material to allow her the same freedom as her brother. Until n few years ago, any ready-made 1 clothing for children was too elaborate and flimsy for every-day wear, but now 1 you can find on the market garments of 1 the best material, that are both simply and well made, and you can even rely on ready-made clothes if you are other- , wise employed and haven't time to sew. Provincetown and Nantucket. Massu, , have clung to the Pilgrim fathers' plan of having a town crier. Aid In Public Speaking. In large auditoriums the speaker of the future will have to depend little on sheer lung power. An amplifier such as wfts recently placed in Trinity church, New York, makes the j speaker's voice plainly audible in every part of the building, even though he speaks in a low tone. The I amplifier Mill enable a speaker to give more of hie attention to emphasis and expression. —Youth's Companion. ————— — MICKIE SAYS—3. A » HE t OF A / I, ' 0 REAL - — nd I 1 OuApxep's •v&w>oe

CiASIIW ADVERTISEMENTS, I X NOTICES, BUSINESS CARDS I

: +++++ *++++++++ ++++++++++ * 4 ♦♦♦♦♦♦♦♦♦♦♦♦*! , ♦ t LASSIFIBh *•»* 1 FOR SALE - list'd ol) The Gs. Co. 105 , Nortb Third st i.-or SALE Babv Chick*: Rhode ’ Island Reds. P'vmouth Rock. White Wvandottes ami Brown Legh .■ ( ami up. O. V. Dilling, Decatur R. .. I Craigville phone. CHICKS - FOR SALE—Brown Leg-, > horns. Barred RockA Drpmgtons. White Wyandottes. Anconas; S centi and up. Phone 615. or U.O U Moni roe st. ‘ FOR SALE Ford speedster, 16 valve ’ in head, in good condition. r ’ h “ , ’ e • 549. 16tt3x ' FOR SALE —Coxcomb plants, 10c per dozen or 3 dozen for 25c. Leltuce, I ' fresh from garden every day. Just re- ’ reived an order of felt rugs, rose bead • shopping bags and Bliss Native Herb t tablets. America's foremost laxative, t 200 doses for SI.OO. Why pay more, t Sarah Avres, 121 S. 9th St., Decatur. • 157-3tx i FOR SALE Vain side delivery hay 1 rack. Ray Smith. R. R. 10. Phone 1796-L. __ . _l5B' 3tx • SPECIAL SALE SATURDAY, July 7, 1 Ladies and Misses Trimmed Hats $2 to $3.50. Childrens Hats $1 to s2.| , A bargain while they last. Maud A. J Merryman. 222 S. 4th st. J69t2 FOR RENT • FOR RENT—B room house, opposite court house. Modern, except heat. 1 A. D. Suttles. 148tf I FOR RENT—Three ' front sleeping rooms or could fix them for light r. house keeping. Sarah Ayres, 121 S. II 9th st. J57-3tx ’ Fl)I! RENT—Room and board. Good i home cooking. Mrs. S. L Rice, L corner of Seventh and, Jefterson -streets. 159-2 t i ~ • WANTED i help'female I EARN S2O weekly spare time, at ' 'home, addressing, mailing, music, • circulars. Send 10c for music, intor- > mation. American Music Co., 1658 ) Broadway. Dept. Sl<-W. X Y 56t6 • buy Jersey or Guern- • sey cow. Also a used bicycle. , Phone 754 or call at 405 Winchester r street. 157t3x MEN WANTED—Ung job and ’j good wages. See W. S. O’, | Brien at the Gas office. 158t6 J CAN GIVE board and room to a group' • J of men; t or more. Cail al 209 S. , Third street. 158-3tx | —— LOST AND FOUND • LOST—Large purse July 4 on Nutti man Ave., between Ninth street • and Catholic cemetery. Contains pair II of shell rimmed glasses, one key on ■ chain, pearl pocket knife and several ■ other articles. Reward of $4 will be I paid if returned to this office. 158-3tx i: LOST—French Bull dog. female; , | answers to name of Babe. Finder ,| please notify James F. Stonerook or; , call phone 615. 169t2 ; , A SALE OF RELICS The G. A. R. will hold a sale of ' furniture, relics, pictures, chairs, etc. formerly used in their post hall for years, near and dear to them but of no further use, since they are moving In with the Legion. The sale will be in the Old Adams Countv Bank building in Niblick block. Saturday afternoon, July 7th at 1 o'clock. Terms—Cash. 156t5 G. A. R. o Keystone Ouiet After Flight Os Minister Bluffton, July 6.—After the mad episode Monday night in which Rev. J. R. Weaver, Methodist Protestant minister, was driven from the town by the threats of a mob, the village ot Keystone has evidently again settled down to peaceful obscurity. Rev. Weaver, according to reports, is at his former home in Shelbyville, and his wife and daughter are expected to follow him there. It Is said that the rumors charging the minister witli having made tin proper advances towards several minor girls may have been hugely distorted There are many persons 1n the village who believe that these reports had but the slightest founda tion of truth. There has been like trouble in the town of Keystone before, and it iu probably to the residents, those who made up the mob Tuesday evening, that the chief blame for these regretable happenings are due. The departure of Rev. Weaver is believed to have ended the present trouble. It is not likely that court action will be taken either against the minister, for his alleged offences, or against the men who led in the movement for mob violence against him. Accounting for Tide. A tide is a wave of the whole ocean which If elevated to a certain heb-ht by the attraction of tiie moon uYd then sinks.

» business cards • INVESTIGATE FOR BETTER HEALTH, SEE DR. FROHNAPFEL, D. C. Chiropractic and Osteopathia Treatment* given to suit your need at 144 So. 2nd St. Phone 314 Office Hour* 10-12 a. m.—l-5 68 p. S. E. BLACK UNDERTAKING AND EMBALMING Calls answered promptly day or night Private Ambulance Service. Office Phone: 90 Home Phone: 727 DR. H. E. KELLER Decatur, Indiana ftEsF.ll VI. I’KUTICR OFFICE SPECIALTIES: Diseases O s women and children; X-ray examinations Glourscopy examinations of the internal organs; X-ray and electrl ,ii treatments for high blood pressure un i hardening of the arteries; X-ray treatments for GOITRE, TUBERCtJLOSIS AND CANCER. Office Hours: S to 11 a. m.—l to 5 p. m.—7 to 9 p. m. Sunday* by appointment. Phones: Residence 110; Office 409. N. A. BIXLER OPTOMETRIST Eves Examined, Glasses Fitted . ■ HOURS: 8 to 11:30—12:30 to 5:00 Saturday 8:00 p. m. Telephone 135 Closed Wednesday afternoons. DR. C. C. RAYL SURGEON X-Ray and Clinical Laboratories Office Hours: 1 to 4 and 6 to 8 p. m. Sundays, 9tolo a. m. , Phone 581. FEDERAL FARM LOANS Abstracts of Title. Real Estate. Plenty of Money to loan on Government Plan. Interest rate now See French Quinn. Office —Take first stairway south Decatur Democrat O- " ' 0 DR. FRANK LOSE Physician and Surgeon "North Third street | Phones: Office 422; Home 422 iifilee Honrs—■» to 11 a. m. 1 to 5—6 to S p. m. Sunday 8 to 9 a. m. O- — — 6 an—re— Pß*--- ~ 18 MADE! By Getting JOHNSON to Cry Your Sale. Book your Fall sales early. Write or phone. Roy 8. Johnson, Auctioneer Decatur, Ind. I Phone 606 or 849 Red. S—»—»—WANT ADS EARN—s—s-$ . $—«—$—WANT ADS EARN—s—s-$ s—s—s—WANT ADS EARN—s—s $ FOR QUICK CASH SALES > If you are interested in the purchase or sale of farm lands, business locations, residences or city property—write or call for one of our recent descriptive lists. For those persons who won’t wait, and are bound to realize some cash ' soon, we would say call and see what we can refer you to as a cash price I tor your property. Description ot our No. 47 is as fol- . lows:—ls an acre of ground, an 81 , feet frontage on Mercer Avenue, with . a modern eight room story and a half residence. Open stairway, natural wood finish, cellar, garage, stable, ! etc. |s offered for" $2,800.00. I r I FT. WAYNE & DECnl’Uh TRACTION LINE I J 1 - , Leaves Decatur Leaves Ft. Waym 6:45 a. tn. 7:00 a. tn 8:00 a. tn. 9;00 a. m. 10:00 a. tn. 11:00 a. tn 12:00 p. m. j.;00 p. m. s 2:00 p. m. 3:00 p. m. t 4:00 p. m. 5;30 p . m . 5:30 p. m. 7:00 p. m. I 7:00 p. m. g : oo p. m. * 10:00 p. m. H:OS p. m. i, ' Freight car leaves Decatur 1 7:00 a. m. i Arrives at Ft. Wayne..B:3o a. 18. i Leaves Ft Waynel2:oo noon Arrives at Decatur 1:30 p. m. J P- J. RATMOND, A*ant. , Office Hours: 6:30 a. m.-7:00 p. m. —