Richmond Palladium (Daily), Volume 39, Number 41, 29 December 1913 — Page 4

; PAGE FOUR

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, MONDAY, DEC. 29, 1913

The Richmond Palladium

AND SUN-TELEGRAM.

Published Every Evening Except Sunday, by Palladium Printing Co. Masonic Building. Ninth and North A Streets. R. G. Leeds, Editor. E. H. Harris, Mgr. la Richmond. 10 cnta a -week. By Mall, In advanceon year, $6.00; six months, $2.60; one month. 45 cent' Rural Rentes, In advance oae year, $2.00; six month; fl.25j one month 25 cents.

Entered at the Post Office at Richmond. Indiana, as : end Claaa Mail Matter.

The Currency Reform Bill.

The administration currency reform bill, proposing a revision of the financial system of the United States, and the creation of regional reserve banks to act as strengthening elements in the banking and financial world, passed the senate on the night of December 18, by a vote of 54 to 34. The essential features of the currency bill are: The secretary of the treasury and two members of the federal reserve board are to constitute the organization committee. This committee is to designate not less than eight nor more than twelve reserve districts in each of which a federal reserve bank is to be established. Each reserve bank must establish branches within its federal reserve district at such places as are approved by the federal reserve board. Capital stock of the reserve bank is not transferable and can not be hypothecated. When a member bank increases its capital stock its subscription to the reserve bank must be increased correspondingly. Among the powers vested in the federal reserve board are: To require reserve banks to discount the discounted paper of other federal reserve banks at rates of interest to be fixed each week or of tener : to suspend for a period not exceeding fifteen days, any reserve requirement specified in the act; to authorize members to use reserves, federal reserve notes based on United States bond? to the extent that the board may find necessary ; to grant national banks applying therefor the right to act as trustee, executor, administrator or registrar of stocks and bonds. A federal advisory council is created to consist of as many members as there are reserve districts. This council is to meet in Washington at least four times a year and may hold sessions elsewhere. Federal reserve banks are empowered to receive from member banks and from the United States deposits, currency notes of various kinds, checks and drafts, etc. They shall have the power to discount notes, drafts and bills of exchange arising out of actual commercial transactions, but such paper does not include notes drafts or bills of exchange covering merely investments issued or drawn for the purpose of carrying or trading in stocks, bonds or other investment securities, except bonds and notes of the government. Provision also is made "that notes, drafts and bills drawn or issued for agricultural purposes or based on live stock and having a maturity not exceeding six months may be discounted in an amount to be limited to a percentage of the capital of the federal reserve bank, to be ascertained and fixed by the federal reserve board." Any federal reserve bank may discount acceptances based on the importation of exportation or domestic shipments of goods, and which have a maturity at time of discount of not more than three months and indorsed by at least one member bank. The amount of acceptance so discounted shall at no time exceed one-half the paid-up capital and surplus of the bank for which the rediscounts are made. The aggregate of such notes and bills bearing the signature or indorsement of any one person, company, etc., rediscounted for any one bank, shall at no time exceed ten per cent of the unimpaired capital and surplus of the bank; but this restriction does not apply to the discount of bills of exchange against actually existing values. Reserve banks are authorized to engage in and make loans thereon ; to buy and sell at home and abroad, either for domestic or foreign banks, corporations, etc.; handle transfers and bankers' acceptances and bills of exchange of the kind and maturities made eligible by the act for rediscount with or without the indorsement of a member bank; to deal in gold coin and bullion an dmake loans thereon ; to buy and sell at home or abroad bonds and notes of the United States, bills, notes, revenue bonds and warrants issued in anticipation of the collection of taxes by any state, county, district, political subdivision, etc., in the continental United States; to establish rates of discount subject to review by the federal board; to open and maintain banking accounts in foreign countries and generally to deal in bills of exchange. Every federal reserve bank shall maintain reserves in gold of lawful money of not less than thirty-five per cent against its deposits and its iederal reserve notes in actual circulation, but the amount of gold in the federal reserve bank, together with the amount deposited by it with the treasury, shall be at least equal to forty per cent of the federal reserve notes issued to the bank and in actual circulation and not offset by gold or lawful money deposited with the federal reserve agent.

A bank not in a reserve or central reserve

city must maintain a reserve of twelve Der cent

of demand liable and deposits. A bank in tain reserves equal to gregate of its demand of its time deposits, cities must maintain

cent of their demand of time deposits.

five per cent of its time

a reserve city must mainfifteen per cent of the agliabilities and five per cent Banks in central reserve a reserve of eighteen per liabilities and five per cent

THE CANAL TOLL QUESTION

Heart to Heart Talks By CHARLES N. LURZC

Representative Adamson has Introduced in the house of representatives a resolution which he declares will prepare the way for an honorable adjudication of the Panama canal tolls dispute. This, however, is not the impression all get on reading the provisions of the resolution. During the latter part of Mr. Taft's administration congress included in the general legislation applying to the canal zone a provision exempting American coastwise shipping from the payment of tolls. Much indignation was expressed throughout the country at the time. This was for two reasons: One was that the exemption was in contravention of the Hay-Paunceforte treaty between the United States and Great Britain, and the other was that it was the old graft of a ship subsidy in a new form. Despite this indignation, and the diplomatic protests lodged by Great Britain, congress approved the exemption, and Mr. Taft signed the measure. Mr. Adamson's motives in introducing the new resolution are probably commendable, as he has already gone on record against the efforts of American shipping interests to procure preferential rates. He would have the toll exemption provision of the Panama law suspended for two years, believing that during this period it could be demonstrated whether or not tolls could safely be remitted to coastwise shipping. This would depend, of course, on whether the foreign traffic produced sufficient revenue to meet all expenses connected with the canal. He believes that during the two years the American state department probably could come to some amicable agreement wiht those foreign nations that have objected to the exemption. He says: "If it is demonstrated that the (foreign) tolls are sufficient to spare the tolls to the coastwise trade, the state department will be allowed time to adjust questions growing out of the treaty stipulations, and if the advocates of exemption are found to have been correct in their contention as a sufficientcy of revenue and the diplomatic questions are settled in their favor, an executive order will then put the exemption into force." Mr. Adamson, we believe, loses sight of the actual point at issue. He assumes that "all" opposition to the exemption as far as this country Is concerned has been because of the fear that revenue would be deficient. This formed a part, a very considerable part, but not all. First among the reasons advanced against this exemption is that it is in defiance of the Anglo-American treaty, which provides that the canal shall be operated on terms of "absolute equality" to all nations "observing these rules." Mr. Adamson is aware surely of the widespread objection the American public has to a ship subsidy and exemption is subsidy in veiled form. In our opinion, his resolution only clouds the issue. Even were the tolls imposed on foreign ships found to be sufficint to pay the interest on the vast sum involved, bear the expense of upkeep and provide for a sinking fund, the dtain on the country's honor caused by disregard for a treaty would remain. The Panama canal toll exemption is wrong. It can never be made right by parleying and "proving things" with figures. Indianapolis News.

SEA CHANGES

Gonies an' gullies an all o' the birds of the sea, They ain't no birds, not really," said Billy the Dane. "Not mollies, nor gullies, nor gonies at all," said he, But simply the sperrits of mariners livin' again. ' Then birds goin fishin is nothin' but souls o' the drowned, Souls o' the drowned an the kicked as are never no more; An' that there haughty old albatross cruisin' around, Belike he's Admiral Nelson or Admiral Noah. "An" merry's the life they are living. They settle and dip, They fishes, they never stand watches, they waggle their wings; When a ship comes by, they fly to look at the ship To see how the nowaday mariners manage things. ' When reezin' aloft in a snorted, I tell you I wish (tho maybe it ain't like a Christian) I wish I could be A haughty old copperlbound albatross dipping for fish And coming the proud over all o' the birds of the sea." John Mansfield.

"ONE DAY AT A TIME. Four hundred rears ago lived Stephen Hawes, an English poet known only to students of literature. He left little for future generations to read, bat be penned two lines which, in the opinion of competent critics, are enough to save his name from oblivion. They are: For, though the day b nertr so Ions. At last the bell ringeth to evensong. Of eoursf the thought itelf was not original with Hawes. It must have come to him from antiquity, for ever time the world began men have been preaching and listening to the philosophy of One day at a time. Strictly true It is not since a day is only one link In a lengthening chain of days. We cannot take the chain apart, no matter how hard we may try nor how certain that we may be that the world knew us not before our earthly birth and will know us not after the breath of life has left our bodies. The remotest day In the annate of time Is Joined with its successor and with all its successors to make today, and today already stretches out its hand to tomorrow and to all the coming tomorrows. But "one day at a time" has Its truth nevertheless. It tells us to let the cares of the day fade Into the dissolving hues of the sunset. If they are business cares lock them up wheu you snap shut your desk. If the field you plow is stony do not pick the stones from the furrow to exhibit them as parlor ornaments. Throw them aside as you go through the furrows. When evensong rings out its call to rest and peace let not its melody and harmony be disturbed by thoughts of the sorrows and cares, the worries and troubles of the day. It is very easy to offer such advice and difficult to put it into practice. Into every life come the insistent cares, the troubles that will not be waved aside, that will not melt away with the coming of the evening. If they are real cares and not figments of the imagination they must be fought bravely. No amount of optimistic philosophy, no cheerful advice of "Forget It!" will make them less real. But, after all, In one sense It is true that we live only one day at a time. If we live that one day rightly as It comes to us, tomorrow will be a better day.

For the second week of their return engagement at The Murray, the Francis Sayles Players will offer for the first time in Richmond at popular prices. Miss Blanch Walsh's sensational success, "The Woman in the Case." The play is from the pen of the late Clyde Fitch, which alone is an assurance that it will be wif of the very best of the entire theatrical season, and Mr. Sayles promises us a production that will equal any he has ever given in this city. Mr. Sayles will be seen at his bst in the leading part while both Mi's Worth and Miss LeRoy a ill be seen to advantage, in fact the entire Company will be seen in good parts, ami the ladies of the Company will have a chance to wear some handsome gowns. On New Years afternoon there will be a special matinee when all seats will be reserved and the regular night 1 prices charged. The box office will ' be open every morning this week from

ten a. m. and seats can be secured for any performance during the week. Starting next Monday night an old fashioned country store will be given each Monday night when many handsome and useful presents will be given away.

NOTICE. I will not be responsible for any bills that H. M. Little will contract. O. H. Little. 26-3t.

MRS. DEEM, 84, DIES AT DAUGHTER'S HOME EATON', O., Dec. 29. The result of the effects of liver trouble and other complications, Sarah Deem, 84, widow of William T. Deem, died Sunday evening at the home of a daughter. Mrs. George F. Hickman, South Barron street. Mrs. Deem was born in Preble county and her entire life had been passed within its confines. Funeral services will be held Tuesday afternoon in St. Paul Methodist Episcopal church over the remains of James Kelly, 87, who died suddenly Saturday evening at his home, corner Cherry and Mechanic streets, the result of a heart attack. The deceased was in the army during the Civil war.

ROB

RHEUMATIC

PAIN

To Cure a Cold in One Day. Take LAXATIVE BROMO QUININE Tablets. Druggists refund money if it fails to cure. E. W. GROVE'S sign ture is on each box. 25c. (Advertisement!

I MASONIC CALENDAR ! Monday, December 29. Richmond Commandery, No. 8, K. T. Special conclave. Work in Knight Templar degree. Tuesday, December 30. Richmond Lodge, No. 196, F. and A. M. Called meeting. Past Masters' night. Work in Master Mason degree and banquet.

SORENESS, STIFFNESS

Instant Relief With a Small Trial Bottle of Old "St. Jacobs Oil." What's Rheumatism? Pain only. Stop drugging! Not one case in fifty requires internal treatment. Rub soothing, penetrating "St. Jacobs OH" directly upon the "tender spot" and relief comes instantly. "St. Jacobs Oil" is a harmless rheumatism cure which cannot burn the skin. Limber up! Quit complaining! Get a small trial bottle from your druggist, and in just a moment you'll be free from rheumatic pain, soreness, stiffness and swelling. Don't suffer! Relief and a cure awaits you. "St.

Jacobs Oil" has cured millions of . rheumatism sufferers in the last half , century, and is just as good for scij atlca, neuralgia, lumbago, backache and sprains.

FACTS AND FANCIES

The Krupp gun works in German is making a quickfiring gun designed especially to provide sub-marines with the means of destroying aeroplanes and dirigibles.

"Are you nearsighted, sir?" asked the waiter as the diner was leaving. "No, 'replied the man. "Well, you've left a dime on the table, sir." "That's for you." "Wtll, if you think I'd take a tip like that, you must be nearsighted, sir." Yonkers Statesman.

Thousands of cattle are being exported to the United States from Canada, mostly a grade called "stockers." They are young and thin, the majority being valued at $14 to $20 each. Farmers in New York, Pennsylvania, Ohio and Indiana buy and feed them until they are fit for beef.

"What caused the coolness between you and the voung doctor? I thought you were engaged. "His writing is rather illegible. He sent me a note for one thousand kisses." "Well?" "I thought it was a prescription and took it to be filled." Indiana Normal Advance.

Greeting: In sincere gratitude we respectfully express our appreciation for the courtesies extended in Nineteen Hundred Thirteen, by our patrons. We hope Nineteen Hundred Fourteen will permit us to even greater fulfill your expectations of this Company. Richmond Coal Co. Yards West 2nd and Penn. Ry. Phone 3165.

! STREET STORIES At about 2 o'clock or earlier, in the morning the people who hare business at the depot are, as a rule, a sleepy lot. Conductors, train callers, engineers I acgage men. porters, cab drivers, and who are on duty there, are not over energetic and eome of them are often seen taking advantage of the time between trains to get a little sleep. The travelers, who generally do not sleep for fear of missing their train, are seen lounging, "cabbies" curl up on the vahs until the next train ' due. pomrs are seen shurTlins around, livkir.g as if they had not seen a bed for a week, expressmen lie sleep. nj; on trucks a: i. ir. fac. everyone presents a sleepy appearance exeep: pelieemen. Hut wtun the whistle of the approaching train is heard, still ouls'tie the city limits, the sit no is quickly i handed to action Kxpressmon arrange their trucks alongside the traek o: tho expee'ed tram, conductors run lure and there, cabbies arouse thorns' Ives from their nap in anticipation of a "'fare." porters tot on the job. policemen place themselves in iKsttion to w atch tor all disorderly conduct and everyone is busy. At this season of the year when so many people are coming and leaving the city and so many packages are being exchanged the attaches of the de

pots do not have much time for relaxaUon from their Jobs but are busily engaged In their respective dutiee. but after the holiday rush Is again over they take the chance offered them to rest between the trains.

CASTOR I A For Infants and Children. Ttss Rind Ycu Hais Always Bought

Bears the SiUAtUT Of

) 4 TRY COOPER'S j BLEM) COFFEE j For Salt at

Cooper's Grocery

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YOU HAD A NECK AS LONO A3 THIS FELLOW AND HAD SORE THROAT

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WOULO QUICKLY RELIEVE IT.

A quick. Mfe, toothing. tiMltng. Mittpte raltal for Sure TTiro.1 briefly dMcribM TO .(. A mall bottl of TonnUna longer thin most any ,-.. of Sot Thru. TOWSH.MS reltovM 6 or. Mouth and HoarenMS and pr.nta Qulnay. 25c He tlMpHil Sin II H. All DratfWs. TNB TOWIL OOMflllt, . - CwM. OMm.

THE BEST WAY To Begin The New Year Sit down and sum up your bills, putting those of the butcher, grocer, rent man. Insurance HKent, etc., all lu one amount, then come and see us and fcive an opportunity to explain our plan for relieving jour "financial pains." Loans on furniture, pianos, teams, etc.. in amounts from $3.00 to $100. At 2 per cent per Month $!5.00 costs you $4.10 for three months. That's all. We have other plans If this does not suit you. WRITE OR PHONE US. Richmond Loan Co. PHONE 1545 Colonial Bldg., Room S Richmond, Ind.

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NEW YORK DENTAL PARLORS, 904y2 Main Street

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ViST :? K fl Bridge Work at $3.00 per tooth.

jh a No more. Fully guaranteed.

.hi Gold Crowns $3.00

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''7?9Sl A I Bridae Work 13.00

U W Full Sets $5.00

yflp'DTLLiH tu'jmipfTx Gold Fining ijjo up

Silver Finings ouc up

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On Thursday mornings skates will be furnished free to beginners. Mr. Fry and Mr. Shute will instruct the ladies. Skating Tuesday, Thursday and Saturday, Morning Afternoon and Evening. XSSSSSSISSBBSBBBBKBSSSSSSSSSSSESSSS

Consumption causes one-seventh of all the deaths in the world.

"I had to let that new maid go. I discovered that she was neglecting the children when I was attending my club meetings." "That so?"

"Yes. Positively, she couldn't think less of them they were her own. Detroit Free Press.

if

Lions auu tigers are too weaK in lung power to run

more tnan naif a mile.

others, Butter - Krust

And

Golden

Cream

Mrs. Neighbor They tell me your son is in the col- j lege football eleven. ; Mrs. Malaprop Yes, indeed. j Mrs. Neighbor Do you know what position he plays?1 Mrs. Malaprop Ain't sure, but I think he's one of the drawbacks. London Tid-Bits. j

Yale University" in the last fiscal year received 51.41S,935 in bequests and cash donations. ' '

Have no superior, and if an equal, we have them yet to find ; and the best part of it is, they don t cost any more than any other kind of bread. Next time ask your Grocer for one of these good kinds. Richmond Baking Go;

Commissioner's Sale of Farms in Western Wayne County, County just northwest of Cambridge City, Indiana. Part of Moses Myers' Estate. ON JANUARY 6, 1914 One Farm of 100 Acres One Farm of 78 Acres ON JANUARY 7, 1914 One Farm of 40 Acres One Farm of 21 Acres All these Farms are in Jackson Township and Well Located. JOHN C. DODSOM Commissioner

HISTORY OF THE CIVIL WAR Including the BRADY WAR PICTURES Clip this coupon and two others (which will be found en thi3 page each day for the next thirty days) and bring to this office accompanied with 98 cents. This book is the mo3t valuable history ever published- It contains over 1,500 actual reproduced photographs of the Civil War. This collection of Brady's pictures was purchased from the United States government. Don't fail to clip this coupon and two others. DECEMBER 29