Richmond Palladium (Daily), Volume 44, Number 255, 8 August 1919 — Page 3

PAGE THREE

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, FRIDAY, AUGUST 8, 1919.

EDITH CAVELL'S SLAYER MAY BE TRIED BY LEVAL

Belgia

n Who Attempted to

Prevent Murder May Ac

cuse Baron De Lancken.

Bloated Credit System is to Blame for Cost of Living, is Claim of New York Economist

BRUSSELS. July 12, (Correspondence of the Associated Press). If

raron von der Lancken-Walkenltr

civil governor and regarded by many

ae the real ruler of Belgium during the German occupation, is brought to

trail at the Old Bailey in London, there will be present an accuser whom

Lancken tried to send to the firing

squad at the Tir National. That man la Gaston de Leval, a Bel

gian attorney, legal counsellor of the American Legation and special of the American legation, during those days of the German occupation in Belgium.

There is bitter hatred between Baron Lancken and the Belgian attorney.

who risked his life in his attempt to save Miss Edith Cavell, the British

nurse, from execution. Had it not

been for the intervention of Ambas

sador Whitlock and Mr. Gibson a firing squad might have entertained de

Leval on the morning of October 21

1915. Predicts Prosecution. De Leval accompanied Mr. Gibson when, on October 11, the American Secretary went to protest to von der Lancken against execution of the death sentence upon Miss Cavell. While the Spanish Minister, the Marquis of Vllladobar, was arguing with von der Lancken who refused to intervene, the German caught sight of de Leval and exclaimed. "There is an enemy subject, what is he doing here?" Marquis Vlllalobar and Mr. Gibson immediately recognized that Lancken was attempting to create a diversion and requested de Leval to withdraw. The latter refused, saying. "I shall live to prosecute you at your trial," Lancken asked GlbBon to dismiss de Leval from the service of the American Legation Gibson refused.

A few days latter Lancken came raging to the American legation, bear

ing a copy of an English paper with the story of the execution of Miss Ca

vell, including Mr. Whitlock's report

to the State department, Gibson's nar

rative of the events and de Leval's

legal conclusions.

"This man de Leval will have to be removed from the American Legation," said Lancken, "Under military law he should be tried by a courtmartial, I would recommend that the most severe penalty be visited upon him." On Octber 21, 1915, Lancken returned to the Legation and demanded that de Leval be given up. Mr. Whitlock refused. De Leval went to London where he remained throughout the war. Lancken's parting sally to de Leval was: "We shall meet again." De Leval retorted: "I am sure the pleasure will be all mine. "And now they may meet at the Old Bailey.

NEW YORK. Aug. 7. Why has the

dollar declined in value, so that it is

worth only about half aa much as it was before the outbreak of the European war? The answer is that it has been diluted, and America's bloated credit system is held to blame. If the United States had Issued greenbacks instead of bonds to finance the war there would be a clearer understanding of the inflation which has cut in half the purchasing power of the dollar. It would be apparent that the production of useful commodities having been curtailed, and the turnout of dollars having been grea,tly expanded, It would take more dollars to buy a given commodity, under the law of supply and demand. But the step from greenbacks to bonds was a step out of the realm of currency into the realm of credit, and it confused the issue. Factor In High Prices. The man who had a savings account of a thousand dollars before the war has only half as much now. The man who works for $50 a week, say, is actually getting only $25. Those things are true, whether you blame high prices or inflation. But if you are prone to consider high prices a kind of Inescapable jugernaut, you are wrong, because, according to George E. Roberts, former director of the mint, and

, i now vice president of the National

City bank, nigh prices are cnieny a reflex of the credit inflation from which

this country is suffering, and the inflation is remediable. "Twenty years ago the people of this country rallied against the fiftycent dollar," Mr. Roberts said, the other day, "and free Bilver was voted down. But we have got the fifty-cent dollar today, and it is a question whether we are going to make it permanent. "Everybody knows that the purchasing power of money has declined, that prices are twice as high, but most people think it Is due to the fact that something has happened to commodities. Few think of it as due to changes on the 6ide of money. There la something delusive about a riBe in prices due to depreciation in currency. "It sets up a situation which looks like prosperity, and which for a time has some of the features of real pros

perity. Rising prices stimulate buying and stimulate production while they last. They make business good and bring profitable employment. We have had a great increase in bank de

posits, and some people. Including some bankers, regard that as prosperity. They think it is proof of an accumulation of wealth. Credit Inflation Important Factor.

George E. Roberts.

"The inflated state of bank credit is a factor in these high prices. The whole situation is artificial. Bank deposits are all up to 60 to 100 per cent., and a large part of the Increase is pure inflation, due to the increase of loans. The way people are befuddled into thinking this state of things is prosperity has been the despair of economists in all times. These deposits have the same effect as so much paper money. "Liberty bond loans in the banks ought to be paid off, and the loans of the federal reserve banks ought to be liquidated. Tho federal reserve banks were never intended to be a resort for continuous borrowing.

They were Intended, as the name Implies, to be banks holding reserves of credit for emergency and reasonable requirements. Prices and Unrest. "Nobody is responsible for the rising cost of the common necessaries of life, but when great numbers of people are disappointed and

discontented somebody is always held to be responsible. The most thoughtful students' of history have held that all the great crises and upheavals of society have been due to economic causes, to direct economic pressure upon the people, rather than to logical reasoning or intellectual leadership. "Twice in my own time I have seen the monetary system and standard value nearly upset in this country, be-

I cause times were hard; once by the J

greenback party and once by the free

silver party. In both of these instances the farmers were the chief complainants, and the grievance was that prices were too low; now it is the wage-earning class and the grievance is that prices are too high.

The arguments for greenbacks and

free silver were all washed away In the periods of prosperity which fol

lowed, but the same type of agitator

is always on hand just as ready to

argue from high prices as low prices.

and always finding the most effective appeal in the play of class suspicion and class prejudice. The solution of our problem lies in reducing our credit Inflation out of savings and getting back to a rational economic basis." Bank Deposits Not Wealth. "But bank deposits are not wealth. If you borrow $10,000 from your banker, and it is credited to your checking account, the deposits of that bank rise $10,000. And when you

check it out, your checks will be deposited in other banks, and will in

crease their deposits. Bank deposits

constitute purchasing power, and the $10,000 we have taken as an example remains in circulation until somebody

pays off the $10,000 out of savings.

"So long as that $10,000 remains In circulation it Is not an increase In wealth. But that is the kind of purchasing power we have in this country. It is pure inflation, a kind of

bloat or dropsy.

"If the present level of prices is per

manent the value of money and of all

obligations to pay fixed sums of money will be depreciated approximately onehalf. It means that all the savings of

the people which are in the form of bank deposits, promissory notes, or life Insurance, are in large part, possibly one-half, wiped out as with a

sponge. "The farmer or business man who, in the declining years of life, has converted hi 3 property into bonds or

mortgages will find the interest as he receives it, and the principal when It is paid, of only about one-half the purchasing power that he bargained for, A great many salaried people and wage earners are unable to get a prompt adjustment of their pay. The railroads and public utilities have been reduced to a state of almost financial ruin. Nobody gains anything by the higher scale except at the expense of some one else. The distribution of higher pay is not based upon any principles of equity, but upon the power of

SOLUTION WILL

BE FOUND, SAYS SENATOR WATSON

Time, patience and the use of di- j

plomacy between several opposing fac-1

tions will be needed to solve the pres

ent problems connected with the railroad strike and the high cost of liv

ing problem, according to a letter re-, ceived from Senator James E. Watson.

of Indiana, by Harry Gilbert, of Richmond, Friday.

The Indiana senator says, according

to Gilbert, that he is not sure Just where the solution of our present eco

nomic difficulties lies, but that he is

sure of a final and satisfactory solution of these difficulties, sooner or later.

WILLI LAM HARBEN DIES.

(By Associated Press) NEW YORK, Aug. 8. William Nathaniel Harben, author and associate

editor of Youths' Companion, is dead at his home here after a brief illness. Mr. Harben was bora at Dalton, Ga., on 1858 and is survived by his widow and two children.

New Stylish Models

Mexico City To Retain Independent Status MEXICO CITY, Aug. 8. The Chamber of Deputies Thursday by a rote of 136 to 20, rejected a proposal submitted by the executive branch of the government depriving Mexico City of its status as an independent municipality and placing it under the federal government. An attempt originating in the cham

ber to end the present extraordinary ! session of congress on August 15, and j

giving the legislators a recess until the regular sessions start Sept. 1, is apparently doomed to failure because of opposition in the senate. While the lower house has passed the new labor law, the senate still has much to consider. This is taken to indicate that important legislation will not be

enacted until the regular term. President Carranza is understood to have postponed his proposed visit a month in the northern states of the republic in order to present his message at the opening session in September.

For Early Fall Field Mouse or Light Grey Boot, with Covered Louis Heel

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WHAT SHE FOUND

MILWAUKEE, Wis., Aug. 8. Edward Scheribel asked his wife to clean his clothes. She cleaned his coat of a powder puff, a hair net and a vanity bag looking glass, neither of which she recognized. Divorce applied for.

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"DISASTER," SAYS GILBERT, OF R. R. STRIKE MOVES

"The worst economic disaster that ever threatened this country," is the way in which Harry Gilbert, formerly food administrator of Wayne county, characterizes the threatened local and general railroad strike. Richmond, being smaller in size and closer to the source of supply, will get off comparatively light, and there is no danger of real deprivation and want here, but larger centers will be absolutely paralyzed, says Gilbert. He .foresees higher prices, and the lack of some foodstuffs, here, especially if a selfish element of the community attempts to hoard, but bread riots, paralysis of agricultural production movements, and of all industrial business ventures, may result in the country.

Crow der Sails For New York On Cuban Cruiser

(Ry Associated Press) HAVANA, Thursday, Aug. 7. Major General E. H. Crowder. Judge Advocate General of the United States army who has spent many weeks here in the work of revising the Cuban electoral laws, sailed for New York

at 11 o'clock tonight, aboard the Cuban cruiser Cuba. On the return trip from New York the Cuba will have on board the body of Gonzalo de Guesada, who for two years was Cuban minister at Washington and later at Berlin where he died a short time before Cuba entered the war.

Van Camp's Milk brings lower milk bills. It saves the waste of guessing on your milk wants in advance. Here the cow is in the pantry. Small cans and large cans are at your call. Open what you need. No need to guess the day's wants in advance. There is never a shortage, never a waste. Double-Rich Milk Van Camp's is whole milk from high-bred cows, with over half of the water evaporated. It is twice as rich in butter fat and solids as the milk when it comes from the cow. Nothing is subtracted save the water. It is as thick as thick cream. You can even dilute it for coffee or ice cream. Dilute it one-half and you have a very rich milk. Dilute it still further for cooking.

HEADS U.S. SHIPPING BOARD.

WASHINGTON. August 8 Judge John Barton Payne of Chicago, was elected chairman of the United States shipping board Thursday at a full meeting of the board. The three new commissioners whose nominations were recently confirmed by the Senate Judge Payne, Henry M. Robinson

of California, and Commissioner

Thomas A Scott of Connecticut, assumed office Thursday and attended the regular board meeting.

JLiqioicIl IFaro A llauid fire to the bed bugs, ants

roaches and fleas is what the new rhemical discovery really Is. although

there Is no danger or no damage to be Ann bv uinr it to your sprlngrs. fur

niture or clothing. This new chemical la known as Pebky Devils' Quietus, or P. D. Q. A couple of ounces costs but a few cents, but this few cents will have the power of ridding- your house of bed bu-s, ants, roaches and fleas if you purchase P. D. Q. P. D. Q. Is used and recommended by the leading: hospital and railroad companies as the safest and quickest way of ridding" the pesky bed bugs, roaches, fleas or ants. Adv.

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Nothing Changed We take this rich milk, fresh from the cow, and place it in a vacuum. There, by low heat, we evaporate most of the water, and that's all. After sealing the milk in tin cans it is sterilized. That is the only change from fresh milk, and that is essential. Safety requires a germfree milk a pasteurized milk whether you get it in bottles or cans. For coffee or cereals Van Camp's is a cream. For cooking, when greatly diluted, it is still rich in butter fat. A Guarded Milk Van Camp's Milk comes from sanitary dairies, from inspected cows. We have seven model condenseries, in the heart of great dairying districts. The milk is evaporated right after milking. The Van Camp experts have spent twenty years to produce the finest milk in America. You will know that it is when you taste it. Whatever milk you are using bottled or evaporated compare Van Camp's Milk with it. Here is the very utmost in rich, hygienic milk.

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