Richmond Palladium (Daily), Volume 39, Number 6, 17 November 1913 — Page 4

PAGE FOUR

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, MONDAY, NOV. 17, 1913

The Richmond Palladium

AND 8UN-TELBORAM.

Published Every Evening Except Sunday, by Palladium Printing Co. Masonic Building. Ninth and North A StreetB. R. G. Leeds, Editor. E. H. Harris, Mgr.

In Richmond, 10 cents a week. By Mall, In advanceone year, $5.00; six months, $2.60; one month, 45 cents. Rural Routes, In advance one year, $2.00; six months, $1.26; one month 25 cents.

Entered at the Pont Office at Richmond, Indiana, as Second Class Mall Matter.

The Glass-Owen Currency Bill. In the memorable year 1907 the average bank was solid and secure but had its assets loaned out on interest; when an abnormal demand was made for cash it was unable to call in its loans, convert them into currency and meet the demands. A panic resulted that sent many well organized business to Davy Jones' locker. At each harvest time when the farmers of ihmAamd over are short of cash and need money t pay for help and other unavoidable bills, currency grows scarce and stringency results. Because of this a demand has been made these many years for a more elastic currency. The Glass-Owens currency bill was introduced into the house as a plan for meeting these conditions. According to the provisions of this now famous piece of legislation a reserve bank organisation committee, composed of the secretary f the treasury, secretary of agriculture and comptroller of the treasury, will designate a city hi each of certain selected regions as a reserve city. Each national bank in the region would have to subscribe for stock in the federal reserve bank. At present, country banks keep on hand a reserve of at least 12 per cent of deposits, and each city bank 20 per cent. Under tle proposed new bill at least one-half of this reserve would be placed in keeping of the federal reserve bank. It is also planned to have the reserve bank place one-half of its own earnings in reserve until the amount totals 20 per cent of deposits. Of the remaining half, a part will be paid to the government and a part to the national banks. The chief effect of this bill would be to break the back of Wall street speculation. At present surplus credit is shipped on from one bank to another until finally it reaches Wall street. Those banks pay a return on it of about 2 per cent. Where do they get the money? By making short-time loans to speculators. These loans are always well secured but they could not be made if the banks had not on hand a large amount of surplus credit. This "pyramiding of credit" would be impossible under the new law as proposed, and thus Wall street plunging would become a lost sport. Short-time loans could not be made, because the banks Would have nothing to make them with. A federal reserve bank will have the power to discount any commercial paper, providing same is endorsed by a national bank in the region, but the federal reserve board has the authority to specify what classes of commercial paper shall be so discountable. Further, the bill provides that a bank in a reserve district shall be permitted to loan money on unincumbered farm lands, providing the amount does not exceed 50 per cent of its value and the time does not exceed nine or twelve months. j

At the recent national convention of bankers of the country objections were made to the political control of our banking system, which would be made inevitable if it were to be managed by presidential appointees, and they deprecated the sectional control of currency which the plan would make possible. They argued that we need home rule in the banking business. And they also strenuously objected to the number of reserve banks, claiming one-half would be sufficient. But speaking of objections, it won't be hard to guess where the most strenuous hails from. Any measure that strikes at those estimable persons who indulge in the great sport of speculation of the Street is certain of attack. And they have been attacking. According to a reliable source, the opposition to the bill of which so much was made at the bankers' convention, was inspired by the Wall street institutions. They coaxed the "country bankers" to serve as a stalking horse in order that the country might not catch on to their trick of knifing the GlassOwen bill. And because of their close ties and obligations the country bankers willingly became the cat's paw with which a desperate effort is being made to haul Wall street chestnuts from the fire. But the bill is a good one essentially and will almost certainly pass, though in a modified form. And if any person is somewhat impatient of the slow process of getting it passed let him try his own teeth on the currency problem. If he is interested in before breakfast athletics, we guarantee the Glass-Owen bill to keep him going until Christmas, at least.

John D. Rockefeller wants to give away another university, he adds a cent a gallon to the poor man's fuel. The advantage of using the poor for such purposes lies in the fact that they are unable to defend themselves. Being so near the bottom of the dinner basket they are always at the end of their resources and are unable to fight back. The poor pay the highest prices for everything, for rent, for clothing, for groceries, for fuel and for medicine. Tenement dwellers in New York buy coal at two cents a bucket, which is about twenty-four dollars a ton. Families living in two rooms pay more rent than denizens of forty-dollar flats. And the paper-soled shoes, cotton clothes and patent medicines which they buy cost more than the best goods on the market. The Housewives' League, which has been so active in the egg famine now on in New England, sent agents among the poor East Siders of New York who discovered impecunious wives and mothers paying five cents apiece for eggs everywhere else selling for thirty-five and forty cents a dozen. "This," said Mrs. Julian Heath, "is merely because the poor people buy a few at a time instead of by the dozen." The poverty problem is the greatest problem in the world. The Twenty-second Annual Conference of Charities, which met at Gary last Saturday emphasized that. Also, like every other conference on charities which has been held in the last ten years, it emphasized the need of the new philanthropy. The old charity pauperized and so crippled the very souls it sought to help. Poor people don't want things done for them, but a chance to do things for themselves. The new philanthropy tries to open the doors for them and furnish opportunities for the down-and-outers. The old charity stood at the foot of the cliff picking up the fragments after men and women had tumbled over. It was palliative and remedial. The new philanthropy stands at the top and builds fences to prevent folks tumbling over. It is preventive. The old charity was haphazard, hop-scotch and disorganized. Anybody could dole out alms, anybody could lend a hand, anybody could visit the sick and do boosting. And how they did it was of little consequence. But the new philanthropy demands method. It has made charity a science. The untrained layman attempting to relieve suffering may, in our complex, tangled, modern society, do more harm than good.

FORUM OF THE PEOPLE Articles Contributed for This Column Must Not Be in Excess of 400 Words. The Identity of All Contributors Must Be Known to the Editor. Articles Will Be Printed Li th Order Received.

The Prejudice Against Great Books. Every public teacher encounters the popular prejudice against great books. He finds people reading by the hour, but he seldom finds them reading things that really count. And when he asks them why they don't read books that are worth while, he meets a score of objections, not one of which, any more, has the least ground in fact. They tell him the classics are not interesting. But they are. That's one of the things that makes a classic. It is more interesting than any other type of book. Homer's "Iliah" is more fascinating than Sherlock Holmes if one will devote a little time to getting on to it. "Ivanhoe" is more interesting than "Graustark," and "Vanity Fair" makes a modern bromide sound like the rattling of dry husks.. And great books are cheap. One can lay in

the hundred best books now for fifty dollars. He can purchase "Leaves of Grass" for thirty-five cents, and in cloth binding; he can buy "Walden"

for twenty cents, and well put up, too. He can I get Gibbon's "Decline and Fall" in six volumes, ' for two dollars and ten cents. And he can get a J first-class book like the Bible for nothing. j Or, if these prices are prohibitive, he can use ' the public library, an institution which will; honor his call on sight and loan him the best that j has been thought and said in the world for three j weeks gratis or four weeks for five cents. i If a majority of the persons who feel that ! they can't go anything stronger than a news-; paper were only to give the best books a! trial, they would soon discover the groundless- i

ness of their old prejudice. And they would also discover the measureless treasures they have always been missing. To see a human mind, grounded in the infinite and made for endlessness, feeding itself on the puerilities of popular literature and ephemeral pages, is like watching a starving man gnaw a bone while a laden table nearby groans with invitations. And it is because they gnaw at literary bare bones that so many are suffering from malnutrition of the soul.

In your issue of November 11, under the heading "Bitter Words Passed and Warfare Waged Over Court Location." There were antaoniem and bitter feelings that possibly a generation has not yet eliminated entirely, but that a mob from Richmond went to Oenterville when the order to move the offices over was made by the commissioners is an error which probably grew out of a subsequent event entirely. When Richmond had peeured the site for the court house and erected the temporary structure at the corner of Fourth Street and Main, the commissioners made the order very quietly one morning for the removal. The citizens soon heard of the proceedings and Peelle and Fox, then a firm of lawyers in Centerville. immediately filed an application with Judge Geo. Johnson, of the circuit court for an injunction, which was granted and a future date for hearing was fixed by the court. While Centerville was thus engaged in an effort to stay removal proceedings, a train of drays, express wagons came leisurely and orderly into Centerville from Richmond for the purpose of executing the edict of the commissioners. The people of Centerville, with some dfgree of excitement, it is true, fastened the gates of the iron fence surrounding the court house so that the teams could not drive in to load the cdurt records and informed the men who came over by arrangement of the commissioners, that they could not have the county seat that day, at least, not until they should have a hearing in court. So the teamsters returned to Richmond. A few days later. Judge Johnson, in hearing, wherein both sides were ably represented by attorneys, refused to make the Injunction permanent and Richmond was permitted to come again with her aggregation of vehicles to move the much coveted county seat. The idea that there was fighting, a number of shots fired, as I have stated, grew out of a subsequent effort to move the interior of the jail the iron cells to the new jail then being erected in Richmond. This occurred after the county offices were all established in the new structure here In Richmond, and the deputy sheriff who was with the workmen at the time is still living here in the city, could no doubt tell you something about that somewhat exciting event. I was recorder of Wayne county from the 18th of March 1872 until March 18, 1880 and remember somethings which happened forty years ago. JESSE E. JONES.

ENGLISH STUDY That the teaching of English in the high school needs thorough reorganization to bring it Into touch with modern social and industrial demands is frankly stated by Professor James F. Hosic. of Chicago Teachers' College, in a report just published by the United States Bureau of Education. The report contains preliminary suggestions for a course in English that will meet present-day requirements. In this course English composition will be limited to subjects for speaking and writing which can be made to appeal to young people, according to Dr. Hosic. "In both coitip"-'.! urn and literature there will be a shift of emphasis towards those subjects and activities that are of greatest value in actual life for example, oral expressionand towards modern books and periodicals. It is not to be inferred, however that the supreme values inherent in the world's literary masterpieces will lie overlooked." A fairly heavy task in charactertraining as well as in the mechanics of English is put upon the teacher by the makers of the new course. "Broadly speaking." says the report, "it should be the purpose of every Entlish teacher first to quicken the spirit and kindle the mind and imagination of his pupils, and to develop habits of weighing and judging human conduct with the hope of leading them to higher living; sniond. to supply the pupils with an effective tool for use in their future private and public life, i. e., the best command of languaue which, under the circumstances, can be given them." The report then gives an outline of the proposed English instruction from the seventh grade throuh the high school. This revision of the high school course in English is part of a complete reorganization of secondary education planned by a committee of the National Education Association. Preliminary statements for the different subjects have just been issued by the United States Bureau of Education.

the road for seTeral seasons and has ; always proven a popular stock play i and Mr. Sayles will make a very eU- ! borate production.

At the Murray. Week of Nov. IT ' For Her Sake. At the Gennett. Nov. it and IS Edison Pictures.

Chlsa proper has less than 0.4 mile I of open railway to every one hundred ) square miles of territory, and. esti- ; mating the population at ,t;?.O0rt.C0 .. there is O lS mile of line to every tea ! thousand inhabitants.

Gennett The Edison talking motion pictures an extraordinary production will be pret-fined at the Genr.ett today and tomorrow Edison, who is bailed as the uizurd that has caught nature, has gien to the world one of the t: o.-t extraordinary inventions of the age.

M urrette. The first picture ever mafle for the exclusive service department of the Gen, ral Film company by Japanese actors will be shown at the M urrette today and tomorrow. The subject is "The Japanese Swordmaser " It has u pathetic love story of more than ordinary intrest Two additional pictures will be shown. 'For Her Sake. Tonight The Francis Sayles" Players will enter into their twenty ninth week at the Murray theatre when they will ofter for the first time here the great Russian melodrama "For Her Sake" with the entire strength of the company, which will include Mr. Kasl and .Mr. Sayles who have been out of the cast tor the past week "For Her Sake" was a success on

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MASONIC CALENDAR

Monday. November 17 Richmond Commandery, No. 8, K. T. Drill. Tuesday, November IS Richmond Lodge, No. ISfi, F. and A. M. Called meetiug. Work in Fellowcraft degree. Wednesday. November 19 Webb Lodge, No. 24, F. and A. M. Stated Meeting.

FEDERAL BOARD TO SETTLE ROAD STRIKE

WASHINGTON, Nov. 17. The new federal board of mediation and conciliation today took steps to settle the strike on the Southern Pacific railroad. Direct telegraph communication was established with the officers of the road and representatives of the strikers.

Pale Girlo zanti ' Frail Women suffer discomfort are languid, fretful and nervous, because their blood is thin or insufficient, but if those so afflicted could fully realize the wonderful blood-making properties of SCOTTS EMULSION they would not deprive themaelrea of its benefits. Nourishment alone not drags or alcohol makes blood and Scott Emulsion Is the essence of medical nourishment free from wines.

alcohols or opiates. SCOTT'S EMULSION after meals fills hollow cheeks, oMrcom

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POINTED PARAGRAPHS

i

SHREWD LITTLE SERVIA. St. Louis Post-Dispatch. Servia's order of 9i,000 war medals is, of course, only a ruse to make Bulgaria believe it has that many survivors.

Knifing the Poor. Putting the hooks into the poor is one of the oldest pastimes in the world. The depressed

classes constitute the most intelligent, most do-j cile and most useful of all species of animals.' When some nabob wishes to erect a pyramid to' have his bones buried in, he sets the poor to building it; when some world grabber lusts f or !

another continent or two, he herds the poor to

gether and forces them to fight for him; when

ONE OF THE MIGHTIEST FORCES. Pittsburg Gazette-Times. In the hands of one truly great the snow shovel at this season is mightier even than the pen, which puts it all over the sword, as everyone knows.

REAL EDUCATIONAL INSTITUTION. Baltimore Sub. The best purity training school is a grood home, with Professor Father and Professor Mother as the faculty.

INTERESTING NEW INDUSTRY. Philadelphia North American. Aliens who are repositories for bookworms are to be denied admission to the United States. Persons who want the job of turning aliens inside out will please get their applications in early.

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SPECIAL Cream to whip. Try our Coffee roasted today. H. G. HA I) LEY Phono 2292

Boston Pencil Sharpener The only perfect sharpener made. Lot us send you one on trial. BARTEL & ROHE 921 Main Street

TRY COOPER'S BLEND COFFEE For Sale at

Cooper's Grocery

Put Yourself To Sleep ! Put yourself to sleep nights repeating my Phone number, 2441. Then if your grocer will not supply you with my "quality potatoes," toll

is.

I D. HAWLEY

J

MURRAY ALL THI8 WEEK The Francis Sayles Players in the Great Russian Melodrama FOR HER SAKE PRICES Matinees Tues, Thurs. and Sat, 10c and 20c Nights, 10c, 20c and 30c Next Week (Farewell Week) Human Hearts.

MURRETTE

The

Today

Sword

Japanese

Maker 2 Reel Meleis Feature "Dreamy" Hie Code of Honor Lubin Drama . ''Dreamy 'f Comedy n COMING Society Drama The Trap

DO YOU NEED MONEY? BORROW IT OF THE NEW COMPANY New Plans, New Rates Organized for the purpose of loaning money to these whom banks will net accommodate, at rates much lower than the legal rate, cn Household Goods, Pianos, Horses, Wagons, Farm Implements, etc, without removal. S25.00 for 3 Months for S4.4C Other amounts In proportion. We pa) off loans with other companies are advance you more money. ALL BUSINESS STRICTLY PRIVATE. Absolutely no publicity. No delays or red tape. You get the money whe you ask for it. Kind and courtecut treatment to all. If not convenient to call, write or phone us and our agent will call on you. Home Loan Co. 220 Celenial Building. Phene 1&09. Richmond. Ind