Richmond Palladium (Daily), Volume 92, Number 124, 25 May 1922 — Page 9
THE RICHMOND PALLADIUM AND S UN-TELEGRAM, RICHMOND, IND., THURSDAY, MAY 25, 1922.
PAGE NiN
ENGAGE SPEAKERS FOR U, B, SESSION ; IN DUBLIN MAY 29
The Coining of Money By FREDERIC J. HASKIN
DUBLIN. Ind., May 25. Sermons by D. R. Ellabarger, president of the
Huntington college, by Rev. B. R. Holloway, and Rev. W. R. Howard, -will characterize the evenings of the fortieth annual convention of the White River United Brethren association, to be held in Dublin from May 29 to June Rev. Holloway -will preach Monday evening, May 29; Rev. Howard at 8 o'clock Tuesday evening, and President Ellabarger on Thursday evening at 8 o'clock. The morning of the first day, Tuesday, will be occupied with miscellaneous business. All sessions will begin in the forenoon at 7:30 and in the aft
ernoons at 1:20. Subjects to be discussed, with the speakers, are: "Our Position on Water Baptjsm," Rev. I. M. Thorp, 2:40 Tuesday afternoon, "What Is Consecration and When Made?" C. W. Rector, 3:20 o'clock Tuesday, and "What Constitutes a Call to the Ministry?" by Rev. W. A. Strickler, 3:20 Wednesday afternoon. "Wednesday forenoon will be taken up with studies' of theology iomilectics and Biblical Hermenetics with talks, on the use of Robert's Rules of Order, and on leadership, in the afternoon. ' . .Friday's session will end at 1:20 o'clock in the afternoon.
WASHINGTON, p. OTMay.25. The gold holdings of the Federal Reserve banks have just passed the three' billion mark, a record for any
bank of issue or for any nation. Sust treasuries. All silver coinage is in
which coins pass Into circulation Is that constituted by the Federal Reserve banks. These have taken over
the duties and functions of the Sub
cessive importations of gold from foreign countries, arising from the heavj balances due people in this country, have piled up this great store of gold. While most of it remains in bullion form, large quantities are coined. Of the gold coin, the chief quantity remains in banks and in Government custody, but some of it passes into
circulation along with the. great quan-, tities of silver and minor coinage. The process is direct and simple. The United States mints will receive and mint Into coin, entirely free of charge, gold brought to them from any source, excepting only Russian
gold. Russian gold will not be received because of the Soviet's policy of wholesale confiscation. Some one might later come along and prove that the mints had received what In reality was stolen gold. In which case the Government probably would have to restore the gold to its rightful owner.' But when EOld Is dug out of the
mines, when treasure chests are dug up, when gold ornaments are desired to be reduced to coinage or bullion, when gold scraps from Jewelers shops are to be salvaged, the precious metal can be taken to any mint and turned Into gold coin or bullion, free ot any charge to the owner. It is a curious fact that periodically dentists doing a large gold-tooth business will burn the rugs under their dentist chair3 and take the Bmall residue of gold fillings and chippings and have them reduced to coin or bullion at a mint. No Need to Wait nv ... t,rA rT- firns TYl PT1 1 4 are
CENTERVILLE Ind May 25-The "to t ssay office, theost carload of stock to be shipped Uin , muiH wait and re
ceive the actual gold in the form of
coins. But this is nt a speeay process so the usual course is, after an assay to ascertain fineness, to glv3
USE CENTERVILLE'S NEW STOCK YARDS
first carload of stock to be shipped from the new pens went out from the
Centerville co-operative shipping association Wednesday evening. Eight
shippers consigned stock one bringing his in from as far as the Green's Fork pike. Shippers of hogs were Horatio King, C. H. Rohe, Charles Savage and Ross Stevens, while C. H. Rohe, Bert Rogers, Charles Spraker, Howard and David Harris sent calves also. Much interest is shown by members in the operation of the new yards, just erected by popular subscription of the members. Wednesday's shipment was the first to be sent by the new method, but it 1s stated by the manager, Ben Gaiser, that another car may be shipped next week. More regular shipments at shorter intervals, with stock on the road a shorter time, are advantages claimed for the use of the new yards
the official custody of the Treasurer of the United States. Any bank or
any individual who desires a supply of silver may apply to the Treasurer.
He will direct the nearest Subtreasury
to meet the demand and the coin will be furnished in exchange for Buch lawful money in-other forms as tho customer presents. Banks and large
commercial establishments get this
silver coinage from the Federal Re serve banks in this way.
once in circulation the coinatre
turns over and over, bIng added to
ror tne most part, but subject to comparatively slight occasional contraction. Theoretically every man. worn-
I an and child in the United States ha3
ra nis possession slightly mors than $50 in currency and coin. From month to month this amount fluctuates, it is less now than in the years of business boom 1919 and 1920 but greater than before the war and very much greater than 20 or 30 years ago. t . The Government payrolls themselves -put much coin into circulation. In the aggregate hundreds of thousands of silver coins are paid in monthly Government salaries. As coins become abraded banks return them to the Treasury. In the
case of gold coin, a worn piece .is redeemed only in the amount ot actual weight, but a silver coin can be worn so badly that the inscription is scarcely decipherable, and still be redeemed for its full denominational value. During the war there was a great demand for pennies. This was due largely to the war" taxes. Excise taxes of various Borts. such as the soda
tax. made thing3 which always had, sold for even amounts such as 5 cents or 20 cents, sell for 6 or 7 cents or 23 cents, or such odd amounts, because of the addition of the fractional tax. Pennies by the Million This created a vast overnight demand for pennies to take care of this increased penny circulation. The mints worked night and day -turning out coppers by the millions. Nickels and pennies get into circulation through the Subtreasuries and banks In th same manner as the silver coinage. The United States mints are modern plants of the finest sort An In
teresting fact not generally known to the public is that they do job work
Our Haskin IsNotinthe Oil Business
LARGE GYMNASIUM WILL FEATURE NEW CAMBRIDGE SCHOOL
Frederic J. Haskin, Director of the Washington Inrormation Bureau of this newspaper, the author of the Haskin Letter and the Haskin Books, is not "engaged in any other business. Someone . with an almost identical name, calling himself "editor" and "publisher" and using literature bearing the words "Haskin's Information Bureau" is seeking money from the public to invest In oil stocks of his own choosing.
Note carefully that the name of the
kin, and remember that he has nothing to do with the oil business or any othfcr investments. ' The Richmond
Palladium pays for his services and the work he does for our readers is entirely free.
and turn in a revenue to the govern-! man in ur employ is Frederic J. Has-
ment. Many small foreign nations, do
not have their own mints, but do have their own coinage. An arrangement is made by some of them whereby they award a contract o the United
States mint to manufacture coin for them. "V ' A charge Is made for this service by the American Government, and this charge' shows sufficient profit to turn a revenue into the Federal Treasury. Coin are being made for, many governments, particularly Latin American republics. The mints also strike Congressional medals and such special work of an official nature. In 1921. 462,000,000 domestic coins were produced, and 91,448,000 coins were made for foreign governments. The Director of the Mint has his office at Washington, in the Treasury Building, but the actual mints are at Philadelphia, Denver and San Francisco. Formerly there were mints at New Orleans and Carson City, but these are now merely assay offices. Other assay offices are at New York,
Seattle, Boise, Helena, Salt Lake City
and Deadwood. and there are refineries at New York and San Francisco.
Senator Willis to Give
Commencement Address (By Associated PressT) ADA, Ohio, May 25.--United States Senator Frank B. Willis was to deliver the commencement address at graduation exercises at Ohio Northern university here today, when degrees will be conferred upon 142 men and women. The greatest number of graduates will go from the college of engineering 47. Nine will be given degrees in the college of liberal arts; 33 in the' college of education: 19 in the college of law; 25 in the college of pharmacy; three in the school of music; two in the school of commerce, and four In the school of expression. Senator Willis is scheduled to speak at 1:30 p. m. Graduation exercises started last Friday, with the president's reception to the senior class.
CAMBRIDGE CITY. Ind., May 25. A gymnasium 90 feet square with seating capacity for SOO.and assembly rooms for both junior and senior high schools, will be provided in the new Cambridge City high school building,
according to plans announced by buperintendent A. H. Hines. Work on the building, which is to be located in the northeast part of the city, is beginning at once, the contract having been awarded to the Good company of Indianapolis. The plans of the building are patterned after the building which has been erected at Fort Wayne, and embody the most advanced pricinples for this type of construction. Assembly and class rooms are arranged In the form of a square, 161 feet on a side, around the central gym
nasium. The building is two stories
lake, interfering with the spawning beds. - A force of : game protectors, undef the direction of Tiffin Gilmore, has been at the. lake for some time, at work taking the carp out., : Specially constructed trammel nets are used, which are etretched across the mouths of the various sloughs where carp are found. The fish are driven into the nets; removed alive, -and sold to commercial fishermen. " The nets are so constructed that no other kind of fish are harmed. A. C. Baxter, head of the state fish
and game commission, said the move has met with universal satisfaction ot Ohio sporjsmen, and that the opera-' tions will continue through July.
ACUTE INDIGESTION ATTACKS SALESMAN No Doctor to Be Had. Fellow Trav-:
vwmve &v v 9 v u v David T. Brown, of 7 Main 6treet, North Plymouth, Mass.. salesman rep-1 rQn(nff ttiA niMAltA CaAfn !.,.'
company, was suddenly stricked with
acute indigestion'. But for the quick assistance of a brother traveler his-
in heighth. with a balcony on thik, attack might have had serious conse-
second story level In the gymnasium
A 6tage. 43 by 18 feet, is provided also. The construction twill employ varigated brick for the extericn. and halls and toilets will be done in terraza. The contractors have promised to have the building ready to occupy by December of this year. t . Remove Carp From Lake Because of Mad Digging NEWARK, O., May 25. The "mud hogs" are being taken cut of Buckeye Lake. Removing carp, referred to by fishermen as "mud hogs," from the inland lake, is preceding on a larger scale this year than ever before. Carp, it Is said, are a menace to fishing in inland Ohio waterways, because they stir up the mud at the bottom of the
quences. Mr. Brown wTites: "No
aouot you nave neara many gooa reports from your wonderful remedy, Jaques Little .Wonder Capsules. Being a traveling man, eating very irregularly and in all kinds of places, I was taken with a severe attack of acute Indigestion. Not able to get a doctor, a brother traveler who learned of my attack from the hotel proprietor, came up to the room and gave me some of your capsules, and after a short time I was on my feet and resumed my travels." When you travel carry a package of Jaques Little Wonder Capsules for indigestion and dyspepsia. On sale at Thistlethwaite's Drug Stores, Richmond, Ind., or 60 cents by mail postpaid for large package from Jaques Capsule Co., Plattsburg, N. Y. Advertisement.
PICK WAYNE PIGS FOR FAYETTE CLUBS
Selection of Wayne county pigs for I he use of Fayette pig club members was made by Charles Robinson, Fayette county agent, who made a special visit to Wayne county, Thursday Duroc Jersey pigs have been requested by the Fayette county federation, which is furnishing the pigs, and Mr.
Robinson, with a Wayne county reeder as a guide, visited the breeders' farms in search of pigs. ' Poland Chinas are to be used to complete the Fayette county quota In case not enough red hogs can be found.
Club work in Fayette was given an impetus by the action of the farm bureau in sending club members to the Purdue round-up. A delegation of 31, including 19 club members sent by the county, four sent by townships, and five who paid their own way, besides three adults,- were sent from Connersville to Lafayette for the activities during the first week in May.
the owner gold coin already made, or bullion, or a check on the nearest government depository. This can be paid In gold or any other form . of coin or currency the owner elects. Thus the value of the gold submitted passes very directly into circulation. The Treasury owns a vast store of gold, keeping It In part at the. Treasury In Washington, In part at mints and assav offices, and in part in Fed
eral Reserve bank vaults. Gold coins!
are manufactured only as the needs of the Government and commerce demand.
Under the law the mints must buy i all the silver mined and reduce In J theUhited States, which is offered.
A fixed price of $1 per ounce is paid. ; No foreign silver will be bought. The j
open mansei price oi lureigu buyci is between 60 and 70 cents an ounce, and the exclusion of this from tho
mints is a discrimination to maintain!
the American price and stimulate the
Industry. NAt present considerable silver is being minted. Just now there;
Is not much new silver being offered
but the mints have an ample supply.!
Before the price of silver was fixed the mints bought for coinage needs in the open market. Just before the war an ounce of silver could be bought for 50 cents. With the war it
speedily rose to 51.30 an ounce. The Government bought in the open market until the price of silver as a commodity passed its value as money and then the $1 price was set. Since the
war the price has gone down but tno $1 price still stands. Silver producers lost a good customer when the price went above a dollar but the decline has given them a good guarantee. The principal channel through
THREE MILTON HERDS -
IN SWINE CONTEST
Three swine herds, nominated by
Harry Caldwell, of Milton, will com
pete in the Hoosier Ton Litter contest which is being conducted by Pur
due university. James R. Riley assistant in the animal husbandry department of the college, visited the Cald
well farm Wednesday forenoon m company with the Wayne county agricultural agent, to inspect the herds. They will be put on feed within three weeks. The Hoosier Ton Litter club 6ets a ton as the desired weight for a litter to be attained within six months. Gold medals are to be awarded for all litters which comply with the conditions of the contest, with silver and bronze medals for litters reaching certain smaller weights within the 'specified time.
H10THER!
Clean Baby's Bowels with "California Fig Syrup"
Systematic exploration of Africa began in 17S8.
CHILDREN' IX SPHIVO TIME Mrs. C. Osborn, "812 Hillside Rd., Cleveland, O.. writes: "My granddaughter was troubled with a cough for nearv two years. She took Foley's Honey and Tar and her cough is now sone. It loosened the phelfcm so she could raise it easilv." Foley's Honey and Tar la just what children should have for feverish colds. eouKhs, "snuffles" and tight, wheezy breathlnR. He sure to f;et Foley's. It checks croup and whoop. nR cough, too. A. G. Luken Drug Co., 626-623 Main St. Advertisement.
Hurry Mother! A half-teaspoontul of genuine California Fig Syrup will make your cross, fretful baby comfortable. It cleanses the little bowels of all the wind and gases, the bile, souring food and stomach poison which is causing baby's distress. Millions of mothers depend upon this gentle laxative' to keep baby's stomach and bowels clean, and thus correct diarrhoea, colic, biliousness,
coated tongue, sour stomach, feverish j
breatn, ana constipation, u never cramps or overacts. Contains no narcotics or soothing drugs. Babies love the taste of genuine "California Fig Syrup" which has full directions for infants in arms and children of all ages plainly printed on bottle. Say "California" to the druggist and accept no imitation fig syrup. Advertisement.
GIVE HER A-
CEDAR CHEST
For Graduation
A Cedar Chest is one gift that would prove to be most useful to the Sweet Girl Graduate, as it cannot only be put to good use now, but can also be used in "her" home in
years tocome. Our assortment of Cedar Chests offers wide selection. Prices . ranging from ' $12.50, $15, $75 and up WEISS Furniture Store 50W13 Main St.
I - I f Sf .rj; T"I J': Q 1
UITABLE APPAREL
for Decoration Day Outings at Special Prices
SUITS
Our entire stock of Ladies' and Misses' finer Suits has been radically reduced for quick clearance. Many clever styles to choose from. Below are some of the extraordinary prices offered - -
-3
COATS
$197S
$
2500
to
$
4500
Wonderful values are offered in our Coat section, Including Polo Coats, Wraps and wrappy Coats of the better kind for those who have waited until now to purchase a Coat. They will find unusual savings. -
$
2500
to
$.
4500
Tub Blouses A large selection of becoming tailored Blouses in smart styles and color combinations, suitable for all sport occasions. Very special
$
98
Silk Sport Skirts You will require a charming Silk Sport Skirt to wear on Decoration Day. We are offering an unusual selection in the most fashionable fabrics at 712 75 2950 Sport Hose Special offering of Lisle Sport Hose in colors of beige, white, grey and black, very suitable for golf or street wear. Specially priced at
75c
Fibre Sweaters An attractive Fibre Sweater in slipon or tuxedo styles will add greatly to your sport outfit. Many attractive colors and combinations to select from. $4.98 and up
Silk Dresses Charming styles for street, sports or afternoon wear in a diversity of styles, including bouffant, straightline, "panel and other models, fashioned of Taffeta, Crepes, Georgette and others. y2500 W5 y3975
" Silk Sweaters A becoming Silk Sweater in tuxedo style, suitable for golf, motoring or at the races, in the newest shades, will complete your sport attire. Moderately priced , J ' sips t0 3500
Silk Hosiery A wide selection of Silk Hosiery in the season's latest and most fashionable colors, including many fancy Hose, a3 well as the new Hosettes. Prices start at
l00 a fid up
COOL FROCKS With vacations in view and what to wear, comes the thought of something new that will b appropriate. Of course, you will want a cool tub frock for all occasions. We have a wide selection at 'ffs W
TUB SKIRTS With Decoration Day and picnic time at hand. ther are calls for a smart Gabardine White Tub Skirt. Wo are showing an unusual selection, with pockets, belU and large pearl buttons, at attractive prices. $W to 5'98
A
RICHMOND'S DAYLIGHT STORE