davidaulloa/AmericanStories huggingface dataset:
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1908-01-23

such form and denominations and under such
rules and regulations as the comptroller Of
the currency shall fix. The amount Of paid
notes so taken out by any national banking
association may equal to 40 percentum of the
amount of its national bank notes at any
time outstanding, which are secured by the
deposit of government bonds, but shall not
exceed in amount Is percentum of its capital,
provided, however, that if at any time In the
future, the present proportion of the total
outstanding unmatured United States bonds
Of the total capitalization of all national bank
ing associations in active operation shall d.
minish, then the authorized issue of national
bank guaranteed credit notes shall be increas-
ed to correspondingly greater percentage Of
the bond received notes.
"Sec. 2. That every national banking as
ISOLATION taking out national bank guaranteed
credit notes In accordance with the foregoing
section, shall pay to the treasurer of the
United States in the months of January and
July, tax of IA percentum upon the aver
age amount of such notes In circulation dur
ing the preceding half year.
''Sec B. That any national banking asso-
citation which has taken out national bank
the provisions of section /, of this act may
take out a further amount of national bank
guaranteed credit notes equal to Il 1-2 per-
centum Of its capital, but it shall pay to the
treasurer Of the United States in the months
Of January and July tax of 2 1-2 percentum
upon the average amount of such notes in cir
culation during the preceding half year.
Total Amount of Notes.
Sec. 4. That the total amount of bank
notes issued by any national banking asso-
citation, including bank guaranteed credit notes
taken out in accordance with the provisions
of this act, shall not exceed the amount of it's
paid-up capital.
Sec. 5. That any national banking asso-
citation situated and doing business in any
central reserve city, or a reserve city, shall
at all times have on hand in lawful money
of the United States an amount equal to at
least 25 percentum of its national bank guar
anteed credit notes in circulation and every
other national banking association shall at all
times have on hand in lawful money of the
United States an amount equal to at least Is
percentum of its guaranteed credit notes In
circulation; provided, however, that any ma
tional banking association situated and doing
business In reserve city may keep one-half
of it's lawful money reserve on deposit in a
national bank In a central reserve city, or In
(Continund IN PaUn Fivn "
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1908-01-23

UsZ
a esnoH sus3ra . on ,owed bonds.
E0SnreI .Ie11sL our ierts that the cost of
taking out the noIes would be paid ultimately
by the needy borrower who would be bur
dened by increased interest charges at time
of year, usually in the autumn, when he can
i'll afford them.
Situation Summed Up.
After some general criticism of the Fowler
bill, the commission sums up the situation as
follows:
'Let us not be nnmindful of the fact that
in response to the demands of the people, un-
sound and radical legislation has had it's
precedents in our monetary history After
the panic Of 1873, congress passed a bill in
creasing greenbacks by $44,0O0,000, project
which was wisely vetoed by President Grant.
After the panic Of 1893, congress approved
a measure providing for the coinage of $685.
100000 in silver, which was vetoed by Presi-
dent Cleveland Tn these two instances we
have had examples of hasty measures follow
ing financial panics, and in the two bills here
in discussed we have what appears to US to
be similarly unwise measures following the
recent crisis -
The solution proposed by the COMMISSION
differs from the first Fowler bill, which was
based upon principles approved by the con-
vention of the American Bankers Association
at Atlantic City, September %, 1907, in that
the holder of credit note, ''instead of be-
ing general credit, shall be prior lien on
the assets of the issuing bank " The Sc
curity provided by pledging the whole. of the
assets of bank instead of only portion of
them would afford more protection to the note
holder It is also said that the addition
of the plan would insure IAN ample supply
Of currency to the public; relief from the dis
turbed commercial conditions, such~-as those
through which we recently passed; and finally
the certain retirement of the notes when they
have fulfilled their purpose.
Bill PROPOSED by Commission.
The bill proposed by the commission is as
follows:
''Be it enacted by the Senate and House of
Representatives of the United States of
America, in congress assembled, that from
and after the passage of this act, any national
banking association which has been in bust
ness for one year, and has surplus fund
equal to 20 percentum of its capital, may take
out for issue and circulation national bank
notes without deposit of United States
bonds as now provided by law Said notes
shall be known as national bank guaranteed
credit notes.. Said notes shall be issued in
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1908-01-23
Bankers frame Currency Bill For Congress

s&&~ &GwWW@0@ - 49, G@A4G
Chicago, January 19.-The resolution COM
mlttee OF the currency commission of the
American Bankers Association tonight issued
a full report of yesterdays meeting of the
commission, at which the various asset cur
rency plans now before congress were dis
cussed and rejected. The report, which is a
lengthy document, summarizes the commits
sion,s objections to the Aldrich bill and the
present Fowler bill, and then presents bill
In thirteen sections which the commission,
with the backing Of the association, will rec
ommend to, congress The Aldrich bill is de-
clared to be "impracticable, unwise and f.
nancially unsound." The Fowler BILL accord
ing to the report, Introduces schemes SO far
reaching in their scope and touching so many
collateral interests not germane to the real
solution of our currency difficulties, that we
believe its passage would unsette rather than
improve financial conditions. -
Objections to Aldrich Bill
Six principal objections are urged against
the Aldrich bill The first asserts that the
measure would overthrow "a safe system of
note issues which has been enjoyed since the
foundation Of the United States monetary
system and the proposed law is called a
"step backwards to the conditions which gave
rise to the wildcat currency before the
Civil War;
"It may be the entering wedge to the ac-
ceptance of undesirable bonds as security for
note issues,' says the commission. "There
are recent examples in the laws Of New York
state legalizing such bonds for savings banks. -
In the second place, it is urged that the
bill would cripple the lending power of banks
by largely decreasing the banks reserves in
lawful money in order that notes might be
issued.
If the bonds behind these notes were bor-
rowed instead of purchased, it would have the
effect of increasing the liabilities of the
banks, " adds the report, (which is wrong in
principle"
In the third place, it is said that the bill
would tend to create fictitious bond market
and thus lead municipalities to enlarge their
obligations.
The fourth objection is that the technical
requirements which the bill provides must be
observed before notes can be issued would
entail ftsuch delays as to make the notes
available only after the emergency had
passed =
The fifth objection has to do with the tax
ing provisions of the Aldrich bill. These Sec
tons, it is declared, would result in the banks
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1908-01-23
Situation Summed Up.

After some general criticism of the Fowler
bill, the commission sums up the situation as
follows:
"Let us not be nnmindful of the fact that
Smyrna times., 1908-04-01
WELLINGTON.
Gilbert B. Taylor Of Smyrna Resigns Princi
palship of Schools

Millington, March 31-Prof. G. B.
Taylor, formerly of Smyrna, has
resigned his position of Principal of
the Millington Academy. Resigna-
tion to take effect in two weeks.
Personals-Miss Evelyn Cochran is
visiting frenids in Sudlersville. Miss
Mollie Comegys has returned from
a visit to friends in Chestertown. -
Miss Alice Emory, of near Centreville
is the guest of Miss Rose Comegys. -
Miss Addie Vansant has returned from
six weeks visit to friends in German
town. Rev. C. w. Moore, has been
returned to Asbury M. E. Chucrh for
another year. Mr.. Millard Wilson
and daughter, Madelon, where the
guests of Mr.. and Mrs. John Gillespie
the first of the week. Mr.. and Mr..
Sudler Weist, attended last week, the
25th Anniversary of Mr.. and Mrs.
Statsey johnson in Philadelphia.
Smyrna times., 1908-04-01
TOWNSEND
Glove Factory to be Operated at Townsend
Home Talen! Drama.

Townsend, Mrch 31-Mr and Mrs.
Henry Mullin, who for the last 20
years have resided near Odessa, were
given a farewell surprise party on
Thursday evening of their departure
for Smyrna, where they will reside in
the future. About one hundred of
their friends were present and the
evening was spent very pleasantly.
A O'Clock collation. was served.
The drama, entitled "The Flowing
Bowl" will be produced by local
talent here in a short time. The
play will be composed of three female
characters. Proceeds to go to the
M E. Church fund.
Henry Gill has decided to resume
storekeeping and he is now making
arrangements to erect large store
room on the vacant lot directly
opposite the railroad station, where
he intends to conduct a first-class
grocery and restaurant business. The
new building will be of one story anC
will be 30x60 feet.
Edward Graves will start glove
factory here. The enterprise is t.
be located in the store room of tn
Graves building where Mr.. Grave
formerly kept grocery store. Mr.
Graves will go to Toledo, Ohio fo
his machinery in a few days.
Smyrna times., 1908-04-01
THOROUGHFARE NECK.
W. c. T. U. PrOspering And a Loyal lem
perance League Organized.

Thoroughfare Neck, March 31-Miss
Efie Lambert, the National w. c. I.
u. organizer of Senaca Castle, New
York, gave a temperance address at
Friendship NJ. E. Church Sunday
morning, which was enjoyed by all
present. On account of bad weather
there was not a very large attendance.
Victory Union, under whose auspices
the address was given recently
organized Loyal Temperance
League with 26 members. Rev.
Albert Chandler also made his fare
we'll visit. He will be followed next
Sunday by the new pastor Rev. w.
E. Matthews. There is deep regret
in loosing Mr.. and Mrs. Chandler
from Friendship, but they will take
the good wishes of their many friends
with them.
The regular monthly meeting Of
Victory w. C. 7. U. was held at
Walkers School on Saturday after
noon. The meeting was opened with
the hymn, "Blest be the Tie, - fol-
lowed by prayer, reading of the SO
Psalm by the president. The bus
mess meeting was then attended to,
after which all the new members
present were invited to the Society by
very pretty and impressive "White
Ribbon Welcome Service. " Singing,
"Some Glad Day." Reading, Mrs.
Clapsaddles Experience with Saltec
Whiskey, was given by Miss Lena
Cannon. The meeting was ther
brought to a close by singing, "GoC
Be with You Till We Meet Again. "
Personals-Miss Florence Coming
who is attending Friends School il
Wilmington, Del, is spending a weel
with her parents Mr.. and Mrs
: William Coming. Miss Jessie Staat
has returned home after severa
= weeks visit in Camden and Philadel
t pha,. She was accompanied by he
: aunt Miss Martha Stats of Phila
e delphia. Miss Florence FARRELL VIII
d has been working in Philadelphia hs
I returned home. Mr.. and Mrs. Waite
: CHM of near St. Georges spent Satul
n day with her parents Mr.. and Mr.
Ii P. G. Warner. Miss Gertrude Vol
returned to her home Sunday, after
weeks visit with Mrs. ThOmi
!, Wrench. Mr.. William PleasantC
- - and Mr.. John Hartup were Sunds
- visitors at Mr.. William Deakyne
= near Townsend. Mr.. Alex. Pleasa
T. ton and son Alex, of Raymonds spe
Sunday at Mr.. William PleasantOn'
Smyrna times., 1908-04-01
He Got What he Need d.

"Nine years ago it looked as if my
time had come, says Mr.. c. Earth
ing, of Mill Creek, Ind, Ter. q was
so run down that life hung on a very
slender thread 1t was then my
druggist recommended Electric Bit
ters. l bought a botte and l got
what l needed strength. l had one
foot in the grave, but Electric Bit
ters put it on the turf again, and I've
been we'll ever since. Sod under
guarantee at Benton N. WedOn's drug
store. SOC.
Smyrna times., 1908-04-01

Do you use an atomizer in treating
Nasal Catarrh? If so you will ap
preciate Ely's Liquid Cream Balm,
the quickest and surest remedy for
this diseaes. In all curative proper
ties it is identical with the solid cream
Balm, which is so famous and so sue
cessful in overcoming Catarrh, Hay
Fever and Cold in the head. There is
relief in the first dash of spray
Opon the heated sensitive air-pas-
sages. All druggists rs cents, includ-
ing spraying tube, or mailed by Ely
Bros, Sc Warren Street, New York.
Smyrna times., 1908-04-01

Members of Ewell's M. P. Church
are interested in the session of the
Maryland Annual Conference of the
Methodist Protestant Church which
convented at Snow Hill, Nd. this
morning. The most important bus
mess on the opening day will be the
election OF a president of the body
and it is expected that the incu-
bent, Rev. DIR. J. M. Sheridan, will
be reelected. Governor Glenn of
North Carolina, is expected to address
the conference one evening during its
session. One of the main features
of the conference will be the election
of delegates to the General Con-
ference of the denomination, which
meets in Pittsburg, Pa, in May.
These delegates will probably be
instructed as to how they shall vote
on the church union question, which
will be discussed and likely decided
upon at Pittsburg.
Smyrna times., 1908-04-01

John Parsons, of Wilmington the
engineer, who one day asked per
mission to run his locomotive with a
strange device attached to the smoke
stack and later patented the Parsons
smoke consumer and fuel saver,
which made him head of million
dollar corporation, is one of the
incorporators of the Parsons Loco
motive Engineering Company. 1t
will engage, generally, in the appli-
cation of patents and devices for the
use and consumption of carbon and
gases for fuel in the generation OF
light, heat and power. The incor'
porators are principally Wilmington
incorporating agents, and the capita
is S4, 900, OOO
Smyrna times., 1908-04-01
CHESWOLD.
Pastor McCann Greeted BaCk-LOcal Items
and Personal Mention

and Personal Mention.
Special Correspondence to the TIMES
Cheswold, March 31-Our w. C. T. |
u. has made arrangements with Mrs.
Cora Seberry, to give public address
in Cheswold Church Tuesday evening
of next week, April 7th.
Rev. Milton McCann filled his pull
pits at Bethel and Cheswold last Sun
day thus beginning the second year of
his ministry at this charge. The con-
gregations were, however, reduced
some by showery weather conditions.
Former Pastor Rev. A. w. Good
hand, stopped in Cheswold only few
hours returning from Conference when
his many fiends were glad to congratu-
late him on being assigned to Frank
| ford, a more desirable place and also
nearer us. -
Resolved, that Women Should
Have the right of suffrage" is the
subject of tho debate of the Ushers
Union of Cheswold at their monthly
meeting to be held at the home of Mr..
and Mrs. Harry Ross Tuesday even
ing of this week. The affirmative
will be supported by Misses Mary
Anderson, Elsie Cantwell, and Will
liam Bunker. The negative by Miss
Jeanette Heinz and Messrs. George
Anderson and Howard Hardcastle.
The Kent County W. c. T. U.
Convention at Frederick this week
! will be attended by Mrs. M. A
A Catterson who is on the program
] Mrs. Lizzie T. Smith, delegate, ant
/ by Mrs. J. Herman Anderson
President of the Cheswold w. c. 7
2 u, and probably others.
n Mr.. and Mrs. Martin Vaugha
k leave this week to occupy a farr
j. purchased near Lewes. They hav
S the best wishes of their friends fC
Il happiness and success.
l. Mrs. Elijah Perry, formerly Mis-
r May Ford, we'll known along tt
l. northern border of Kent County,
10 critically i'll with consumption at h'
Is home in this town. Mr.. Jeff
9r Thompson is also in very critic
r condition. w. B. Dyer, one of o'
5. young men, son of ]. w. Dyer, can
fe home last week from a six year
a absence for Unce Sam in the Nav
as He has seen much of world and h
on much experience in travelling.
Smyrna times., 1908-04-01
The New Pure Food and Drug Inv

We are pleased to announce that
Foley's Honey and Tar for coughs,
colds, and lung troubles is not affec-
ted by the National Pure Food and
Drug law as it contains no opiates or
other harmful drugs, and we RECON-
mend it as a safe remedy for children
and adults. Sold by all druggists.
Smyrna times., 1908-04-01
This May Interest You

No one is immune from Kidney
trouble, so just remember that Fo-
ey's Kidney Cure will stop the irreg-
ularities and cure any case of kidney
and bladder trouble that is not beyond
the reach of medicine. Sold by all
druggists.
Smyrna times., 1908-04-01

A farmer of Middletown who sent
a dollar for "potato bug killer"
received two blocks of wood with the
following directions: "Take the block
which is No. l in the right hand,
place the bug on No. 2 and press
them together. Remove the un-
fortunate and proceed as before.
Smyrna times., 1908-04-01

The ladies Aid and Kings Daugh-
ter's of Salem M. P. Church will
meet Wednesday evening April the
8th at the residence of Mrs Ross
Numbesrs near Blackstone
Smyrna times., 1908-04-01
PLENTY OF TROUBLE.

is caused by stagnation of the liver
and bowels. To get rid Of it and
headache and biliousness and the poi
son that brings jaundice, take DIR.
Kings New Life Pills, the reliable
purifiers that do the work without
grinding or gripping. 25c at Benton N.
Weldon's drug store.
Smyrna times., 1908-04-01

Personals-Mrs. Marion McCOal of
Baltimore, visited Clayton friends
last week. Miss Rebecca Colgain of
Baltimore, and Mrs. F. Pinder of
Sudlersville, were guests of Mrs.
Samuel Pinder, last week. e.
Taylor of Wilmington has moved to
Clayton and occupied ]. D. Wright s
house. Mr.. VIM. Foster of Whining
ton, has moved into the A. Vandever
property.
Smyrna times., 1908-04-01

Rev. G. F. Earring, of Maryland,
a formr pastor of Ewell M. P.
Church, visited some of his Clayton
friends last Monday, while enroute
to the M. P. Conference.
Smyrna times., 1908-04-01

DIR. VIM. E. Wolfe, of Laurel, was
in CLAYTON last Wednesday to inspect
his properties here.
Smyrna times., 1908-04-01

Conductor Joseph Williamson rece-
ived quite a severe injury last week
from a board which fell from the
tender of an engine as he was passing
it, striking him on the head. He
is improving and will soon report for
duty again.
Smyrna times., 1908-04-01

Grover King who has been very Ill
is improving.
Smyrna times., 1908-04-01

Mrs. Morris Donovan is very i'll
with pneumonia.
Smyrna times., 1908-04-01
CLAYTON. .

All orders for Subscriptions or Job Work
or any News Items left with NIL. Nudge
will receive prompt attention.
The Montgomery advertiser., 1908-10-16
BALLOT OPENS EYES
PRINTERS SWEAT OVER THE EX-
 PANsIVE THINGS.
Judge Brooks. of Escambia, Was In Montgomery Where He Arranged
 For PrfntinE-As Big As "Horse BInnkets.o

There Is evidence almost daily of printers scratching their heads in un- profitable fury over the eelction bal lots. In each county now the probate judge is busy drawing rough sketch es of the paper ribbons which will try voters minds on November 3.
 One probate judge who is going early and safely about this job is Hon. M. F. Brooks. of Escambia county. Judge Brooks was in Montgomery Thursday to let out the contract for printing the ballots to a local house.
 Asked what size he thought the thing was going to be. Judge Brooks shook his head dubiously and mur- mured something of horse blanket" 'lace curtains and those huge "to- bacco leaves" which in mighty short time is going to solve the resources of cut-over timber land in Escambia county.
 In mathematical terms. the ballot will on the average be about a foot and a half wide and maybe longer. it will embrace some ten columns.
 It is so complicated, so much more expensive than all preceding ones, that country printers will have many a sweat before they get through their jobs.. Each county has also to print 8 separate ballot for the new county SUD stance of the other two proposed amendments will go on the regular ballot.
 After the serpentine string of nom inees for various State offices, Presi- dential electors and Congressmen and in some instances circuit court judges and solicitors as we'll as a chancellor, will come the perp1exing list of county nominees. For 1t should be remem- NkaN I,-t.k k, mix with the Presidential struggle in November in Alabama unlike some other commonwealths.
 The following county officers are to be named in every county: Coroner. county commissioners or boards of revenue, tax assessor, tax collector, treasurer. county superintendent of ed- ucation. two Justices of the peace, and one constable for each precinct
 By new code provision the terms of office of those county superinten- dents of education who are elected No- vember will not begin until Octo- Der 1. 1909. Thence they hold in all counties for four years. This was the result of the effort of the Code Com missioner to make uniform all terms of county superintendents. Hereto fore there was an uneAding confusion in several counties as to when the terms of office began and when they ended. Quo warranto proceedings be- fore this uniformity were as frequent as pudding pies in Kentucky.