Richmond Palladium (Daily), Volume 44, Number 264, 20 August 1919 — Page 12
PAGE TWELVE
1HE RICHMOND PALLADIUM AND SUN-TELEGRAM, WEDNESDAY, AUG. 20, 1919.
BANKERS DIFFER ON CAUSE OF HIGH COSTS OF LIVING
Federal Reserve System Both Blamed and Credited Exports Are Big Factor. Richmond bankers are somewhat divided In their opinion as to the effect of the Federal Reserve system of finances on the present cost of living, according to statements made In Interviews with prominent bankers of the city. Some of the bankers believe that the federal reserve system -with Its accompanying extension of credits throughout the country, has contributed to some extent to the present Increase In costs of food products, and other necessities. Others, however, maintain that the federal reserve system has been one of the chief factors In the holding of living expenses within reach of all. They claim that had it not been for the present currency system, the country would probably have been in the throes of a financial panic, with the result that not only would living ex
penses be abnormally high, but wages would be either cut off entirely, through forced Idleness of factories,
or reduced to a scale much lower tnan they are at present.
"Although there Is no doubt but that credit expansion had something
to do with Increase in prices, one
banker said, "the Influence in that di
ireotlon has been entirely outdone by the general good accomplished by the federal reserve system In stabilizing
the financial resources of our country
during the recent waf, and also In
these trying times since the war." "It Is the opinion of several emin
ent economists that the adoption of the federal reserve system, and its ac
companying expansion of credit, has In a measure affected the present costs of living," another banker declared. Exports Are Cause. The great Increase In exports from the United States Is one of the chief causes of the present increased costs of living necessities, according to several bankers. The law of supply and demand is always paramount and the fact that this country Is exporting over $900,000,000 worth of goods every month Is bound to have Its affect on the cost of products In this country; "Living expenses are not being reduced, and the cost of necessities seems to be on the Increase every day," one banker said, "but at the same time, the federal reserve bank is reducing the amount of Its paper Issues and credit is not expanding as rapidly as heretofore. "This alone would stand to prove that the financial system now used in this country is not in the least responsible for the high cost of living."
Nurses are Needed Badly; Local Girls Urged to Take Training Courses Scarcity of nurBes all over the coutry Is a serious problem. There are
few applicants for the September class at Reld Memorial hospital. The class Is late this year and any persons wish
ing to make application may do so
until the 20th of September.
Girls are doing other classes of work
by which they can make money sooner
than If they spent three years in training, although the salaries paid nurses when they nave finished training are
far greater than that of the girl who
feels she does not want to spend three years in training, and enters other work.
Fields of work are opening up now
where the girl with the nurse's training does not have to do actual nurs
ing If she does not care for the work. There are social service work, community nursing, school nurse work, all fields which are opening up and affording splendid opportunities for women.
having among her musical elect, a
musician of the type of Miss Kutn Peltz. Sincerely,
CLARENCE ADLER.
The harbor of Rio de Janeiro has fifty miles of anchorage.
Theonly animal that Is really dumb Is the giraffe
11
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MISS PELTZ GIVEN PRAISE BY ADLER
Following Is a letter from a music
ian of national reputation, who speaks , of the work of Miss Ruth Peltz of Richmond. New York, N. Y. Editor, the Richmond Palladium, Dear Sir: This summer I have the pleasure of becoming acquainted with a very talented musician of your city. I understand she is one of your best known piano instructors. Most of the metropolitan teachers, not being able to see any farther than New York are surprised beyond expression when they meet musicians from the smaller cities with the correspondingly limited opportunities for hearing good music they are surprised even amazed at with what sincer
ity of purpose, lofty idealism, devotion and self-sacrifice, they approach
their work.
They toll, and give of their life's
best, knowing that great financial award will never come to them, and they rarely even dream of fame ever crowning their efforts.
A number of years ago, (I believe
it was In 1914) I attended a dinner
given in honor of Fgnace Paderewskl by the Bohemian club, of New York. I was then an officer of that club. At that time Mr. Paderewskl spoke so feelingly of the music teacher of the smaller cities in this country, who
have helped to make him famous. It
was because of their devotion that thousands of people have been educated to understand good music, and therefore have made his success possible. "God bless them and award them with the happiness they deserve," he said. It was a glowing tribute he paid them and a deserved one. I feel that the metropolitan teacher owes a debt of gratitude to the many teachers throughout the coun
try, who after preparing the pupil for
an artistic career, sends him to some
teacher of reputation for a few finishing touches, and is satisfied to have
the artist teacher take the credit for
the pupils success. This is self de
nial almost akin to motherhood.
Richmond is to be congratulated in
REID HOSPITAL IS HANDICAPPED; NEEDS MUCH EQUIPMENT
A contagion hospital In Richmond Is perhaps the most urgent health need right now, according to the superintendent of Reld Memorial hospital, who felt a great deal of anxiety during the recent diptherla epidemic. The need of the hospital was felt last winter when Influenza was prevalent, and there were no nurses available for private homes, she says. Reid Memorial hospital needs a number of big things, nevertheless. It is believed that if the citizens of Richmond were really to feel what has already been done f6r them, and the important things the hospital needs, it would be greatly aided financially. A new pbwer house, a separate maternity ward, and new kitchens are among the things most badly needed. Every room in the hospital is filled, as is the condition most all of the time. Great anxiety was felt at the hospital by the authorities during the recent scare, for fear one of the nurses of attaches of the institution should contract diptherla, and there would be no place to care for them. The hospit
al now is far from being adequate to meet the demands made upon it.
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