davidaulloa/AmericanStories huggingface dataset:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
Senator Aldrich's Bill.

tDettOlt u vi llstlJ
senator Aldrich who is recognized
as the leading authority in the senate
on all matters affecting tn"ncce. mas
introduced a bill II provide AGAINST any
future. money strinSency silch rs tiat
We have Just passed through MS ann
is to make the currency elastic by prHvid-
ing for an issue OF $.p,W0oH OF enlefaen-
CIV money when there * q Sihidei' de-
n,and tor il, as for instance. When III ~
wanted for the moving of the crops AMI
WHEN an the available money OF the com
try is tied up in other ways. IL lnlS
money were SLOWED t" remain III clrcuia-
tion indefinitely it would simply mean zen
imitation of the currency to that amount
To avoid this Senator Aldrich would put
tax on this money heavy enough |" en-
sure it's bein. promptly retired when inc
emergency had l.Isse1
This emergency currenGS aSco ,,.,t a5
to the Aidrich bill would be regulated
by the government acting as "a SORT OF
clearing house. The senator would nave
a currency board composed OF I'll" seiFP.
tary of the treasury. ,he controller OF
! United States. These officials would de
termine when the emergency hi:d arisen
| to warrant the issuance of TINS emergency
currency. how much was reHuireo AM
| how il shoulG ne allotted. There would
he little danger of initiation. for the pro
posed tax of per cent would take away
most of tel profit attending me lssu.
| Possibly there would be SO little prom
| that riany Of the banks would not care
to handle it at all. 1t is charged tha'
during the recent stringencv the nation
al banks did not take on! nearly as n!uci
| currency as they we're entitled 10. II be
| ing much cheaper to hold Oh to the 1uhds
| deposited with them.
| Had this $40, 900 GO been available dur,
ing the recent crisis. it might nave. KEEP
the wheels of Industry creased Dntil IN.
bearded roEey car1e out aEiln. Dut any
issue Of the kind can be regarded only az
q temporary measure OF reilel
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

Chicago which usually loves big fig
ures finds pleasure at last in some of
a different kind. In 1906 there were
81, 76I arrests in Chicago for felonies,
misdemeanors and violations of city
ordinances. In 1907 there were 57,490
arrests for the same character of Of
fences, q decrease of 3J,211, or about
38 per cent. In New York in 1907 there
were no fewer than 100000 arrests, or
almost four times as many as in Chi
cago The Chicago newspapers find in
these figures conclusive proof that
their city is an angelic community,
while New York papers say that the
figures only demonstrate that the
New York police do their duty and that
Chicago is a safe haven for crooks
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
Sanity in Respect Of the Currency.
New YORK Sur.

We observe that the measure intro
,luced by Senator Aldrich IN respect OF
a special currency reserve mas met Win
rcne1al approval and is assured OF an
early ,,assape. There is. of course. some
factioral OPPOSITION, but it is not likely
delay.
: naior AlGiich's hill is ye.:- sirnplc
tnt. md does not aim ut anything ike
currency reform Il provides that the
treasury may Issue currency up to ihs'
amount Of So .0-'Gt" secured by the sam-
class Of OBLIGATIONS at present recognized
as lawful III the Gaze of savings banks
in this state ard in Massachusetts; saiC!
Issue to he taxable a. & per cent. The
prudential stip',latilrS ana restrictions
are. adcuuare and the whole measure in
presses us as wisely conceived and ably
PLANNED.
If We might IL permitted to offer i
die Gercp it wcuid be- that the tax If ii
rer cent. does not adequately dilfcrentiate
this II serve from. ordinarily current mon
~ on which The legal rate conventionaiiy
stands at The same figure. The rat, We
venture to think. ought to be or pei
cont At tie latter figure the possibility
Of imitation is negligible.
that tie AllIich hill becomes a law. this
generation VIII not witness n recourse 10
it, Tie very existence of the law "nt
the p.,nnarcrt availability OF the sur, il
provides will operate very much 3s the
rate Of the Bank Of England operates n
London. \ 4oncy panic viii he ImpoSHi-
BILE. except indeed in cas-" oi an over
lei in ErCland on occasion 10 nc Sus-
tension Of III" bank act-a elphtmlsm i"r
tho same thing that we dc here under
smother name.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

gertv notes il to De state ana municipal
bords of a certain established character;
and railr Dads bonds of proved Nalue' an
of these bonds 10 be- subject TO the Sciu-
tiny and approval of the United STATES
treasurer and the secretary OF the tTe.s
my The trea sur.r is ant noriZed 10 eNact
additional securities at any time 10 sell
outstanding circulation, or he NAY
urirc any bank to change the cnaraGG..'el
of the securities deposited with MN. NJ
amount Of circulation that may ne issueu
cannot exceed 70 per cent: OF the value ~
The securities deposited provision. Is
made for the retirement of the einefsei-
cy circulation by imposing a tax upo.t
il of cne-halt of ! per cent. a nohti, o't
tl4r AVERAGE amount outStanclnG: ms
tax Of per cent. PEI annum Is sui'o ist.,.
" leav, to drive the money Out d tilou
lation rs soon as extraordinary stilliSeH
cinS are relieved. The moral ,'iieet ~
si,cls an arrangement WorId ne Nti>
strong IL tending TO prevent pa'iiSS hi i
st rir-encies: 70" il the national p 1iln
could obtain additional circulation OF go
elO 600 ut any time on Tie payment i ,
per cent. interest. there couic hot r. d
;,ldden and rCinouS rise IN mol:eS idtcS'
resulting from unforeseen panic.
As Il whole. THE -Aldrich bil! must con-
mend itself to the CONSERVATIVE sens VI
tho country as a proper method oi ?to,
yidinr against the injuries Of panic GlI',
Strinccncy Let it be Thoroughly t"Stt''
in debate. without undue or factlcGS o.
lov. AID then. when perfected. iel II W
enacted, SO that it may do its Share. III re-
rcvirg the effects of the recent money
fam
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

Undoubtedly one of the principal hard
ships of the conditions now tradnalN
passing away was thaC the tiict t,iI,s
solvent and mon" y-makins fims co .ii'
not get their commercial paper uis-
counted. Eut it would be long Step
and enc which would seem hazardous 10
MANY people. to tcnter AT once upo.
the policy of making individual ana
firm notes q basis of currency IL l'lus.
not tie forgotten that the emergency
currency proposed in the Aldrlcii OH
Issued upon deposit of Tuniclphl anc
other securities. can be csed IN DIS
counting commercial paTer , .,o
The emergency cuyrerc!'. under the
Aldrich bill. is to be prepared in ad-
vance wher any LARK. presumably see
ing breakers ahead. may request II. lno
other bills already introduced In roth
hrancles provision has been nlide for
The, preparation of stcl currency as a
tte:' of routine. so long as c"ief1tN
is an essential part ~ tie money ID
ce"ta inly seems desirable <ha, an an, tolr
mechanical requisites to prepara non
should he attended To befoie tr"uoie
comes.
The heavy tax on the. currency. and
the repeal of the limitations now cNost-
ing on the amounts tEat may be re-
tired. are desirable as ;iordlnS me
sought-for elasticity; which. II must DC
Remembered. mears not hlerclE Deil,E
able to inf; to the volume OF turrel-cY'
but more particularly to he able to re-
duce il WheE il is TO longer needed Some
professional opponents OF Wall street
may be horrifieh at the prospect OF the
government Goirg into what amounts III
one respect to a bona brokerage business
at p FER cent. margin, which VIII ten.,
to sustain the Price of railroad as well
as municipal issues; hut politically THESE
persons are mostly those VINO btHeVe me
government should issue" money with
ont any security at ali-money which
could be forced into circulation only by
spending more than the revenues.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
Aldrich's Currency Bill.

II any currencr bill shell pass q this
session Of Congress it will probably he
that introduced yesterday by senator
NeIson p Ndrich of Rhode Island
Though Mr.. Aldrich is often regarded as
1i,. +. presen,ativ" OF tie ''frenzied' T.
narcic;s. his bill is very Cohs,r' alive. ii
provides for a-lna Xintnn emergency ISSUE
Of $50 coo, 900 secured by bonds other than
those of the United states ana cunlula-
lively taxed to assure retirement of the
issue when the emergency has passed
The bill makes the comptroller or the
,.iIrren.v sole irdGe of TIE necessity fnf
an emergency issue ana If II o amount
that may be allowe,; to any institution.
He is also Givei. L degree of discretion
concerning the securities on which such
currency NAY be based
This nlan aprroXimatcS tint suggested
Nv Comptroller Rid@cly. q few mouths
ago before that official went ever to the
advocates Of a central bank. 1t IS the
most conservative departure possible from
oar existing currency system. since II
maintains the principle Of bond secured
circulating notes. simply adding state
ana municipal BONDS To those eligible for
he purpose The volume provided for is
rot large brit is probably Slift'"icnt to
meet financial emergencies and The tax
jirpoSed appears adequate 10 cause
prompt retirement. thereby avoiding re-
cluudarcv. The bill has the better chanc =
at enactment because it is understood
speaker Cannon will favor such meas
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
Points of the Adrich Currency Bill.
philadelphia Inquirer,


II is NOT at al! likely that the currency
bill CT which Senator Aldrich has aSsum-
ed the paternity will be passed without
more a., less material amendment. but the
amendments Will apply to details ana not
may be taken as representing the maxi
mum, of reform. ohtainable dulinS ne
cong f tSose ir sssS K fesfa=
mates to furnish Il relief which they rec
ognize as needful with the least possible
disturbance Of the existing system ana
will =, maximum OF precautiO;: against
the risks which any change involves. To
insure the payment Of the notes foi
whose issue it provides. To confine their
emission to the case OF stress, 10 unit
their volume. to m;.k" certain their with
iraWal Whcir the special need has passed
and to keep the whole situation con-
stantlv under Sovei nn.ent tpntr"i are the
objects to which the Aldrich bill is dl-
rectcd and which its provisions are well
a6aptCd to attain.
Not all the banks but only those which
have COMPLIED with the conditions WiiC!.
the bill sets forth are t" be admitted to
the brne!tS OF the act, Eor IL Is LETT TO
tn. hanks to determine whether Il crisis
justifyjinG its application has arisen. In h
controller of the currency is made the
ilGgc of that. subject. however. to the
approval of his opinion by the SECRETARY
of the treasury. IF il is ruled they me
bank on the eligible list IS empowered to
obtain them up to but not exceeding the
arnun; Of IT'S capital unon the deposit
of approved collateral, and this issue shall
be subjected t" 4 tax of six per cent. for
the purpose of compelling its retirement
at tie earliest possible moment. The bill
further orders that the volume of the
circulation which it authorizes shh! al
no tirle exceed the sum of %2'o,""cOo.
that the hanks shall retain ten per cent.
of their legal reserve in their own vaults
and that the existing restriction on the
redemption Of nationd. bank notes Slail
be abolished.
These various provisions are open to the
Oh lection that they introduce c"nllica-
tons which are unnecessary and may
prove harmful; that they prejudiclally
restrict the scope of the relief which they
cxtcld: that they discriminate against
some sections OF the country in favor o!
other sections. and that they superfiuous-
| " harper the action of the BANKS q; a
time When rapidity of movement maz be
imperative. The impending debate may
he left to determine the weight and ner-
! tinen"y of these various criticisms. rms
much must he said il, favor Of ihe bill -
it stands. that il furnishes effective SITE
guards against any imitation of the cur.
rency that j. absolutely secures against
loss the holder of any note whose issue
| 1t authorizes. ard that it places the Scr,
eminent in supreme control. There vii
ht many to think that these are Substan-
tial merits.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
Tho Spirit of Winter,

The Spirit of Winter is with us.
making it's presence known in many
different ways-sometimes by CHEEKY
sunshine and glistening SHOWS. and
sometimes by driving winds and
binding storms. To many people 1t
seems to take a delight in making bad
things worse, for rheumatism twists
harder, tWinges sharper, catarrh be-
comes more annoying, and the many
symptoms of scrofuIa are developed
and aggravated. There is not much
poetry in this, but there is truth, and
it is a wonder that more people don't
get rid of these ailments. The medi-
cine that cures them Hoods Sarsa-
parilla-is easily obtained and there is
abundant proof that it's. cures are
radical and permanent.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
An Outsiders View.
belfast JOurnal.D


Professor Frederick w. Cord of Syl-
vania. Penn. who recently made trip
through Maine doing farmers institute
work, has given his impressions of the
agricultural features of the State in a
communication to the New York Trib-
me Farmer Many of The Journal
readers will be interested in what this
scientific agriculturist from PcnnSyr.
yania has to say of the Pine Tree
State One encouraging feature noted
is that many of the people arc
awakening to the fact that tracts Of
young growing timber possess
rapidly increasing market value" He
notes the absence Of large diaries, the
decline of the sheep industry, and
finds that pigs hold very minor
place. The few to be seen are
usually kept in the barn cellars, where
they work over the manure which IS
dropped through the stable floors.
These methods do not seem wise to
the hog raiser. who believes that the
hog is a grazing animal and should
have the free run of a good pasture"
Professor Cord finds that the two
products which seem to stand out
most prominently in Maine agriculture
are potatoes and apples, and says
that the great potato region or
Aruostook county is an eye opener 70
the man who has never seen it. He
tells of his visit there. of the
methods employed and of the success
attending potato raising in other sec
lions Of the State. While the apple
industry reaches no such proportions
as the potato industry. Prof. Cord finds
that the returns to those engaged IN
it are fully as satisfying. He says:
The cool northern climate produces
fruit of fine quality, high color and
excellent keeping qualities. Wild
trees grow in the greatest abundance
in many parts the State, thus showing
the adaptablity of the soil and the
climate to this fruit Summer and fall
varieties ripen so much later than in
southern New England and New York
that they must have the market
largely to themselves. Taken
all in all. Maine offers an excellent OPP
portunity for the apple grower. One
gentleman who bought q farm upon
which was a badly neglected orchard
reports that for the last five years this
orchard. under intelligent care, has
paid a return of SO per cent. net on the
cost OF the whole farm. Little wonder
that he was looking about for another
orchard to buy
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

In his speech at Omaha the other day
Mr.. Bryan made this interesting
admission: Il know that some people
arc giving much thought to the money
question. but that is not worrying me
much. The people of this country have
made il possible for me to acquire an
adequate income for all time to come
so | have no worry on that score"
With an income of over $50.000 4 year
from lecturing, and many thousands
more from his newspaper and invest
ments. the practically penniless Bryan
of 1896 is now bloated plutocrat and
frankly admits it,. lie bleeds the COM
mon people, by assuring them that his
heart bleeds for them. The candidate
business is very paying one for him
and he proposes to keep il up as long
rs he can assemble enough Democrats
to go through the motions of a con-
vention. He is infinitely better off than
II he mad been elected President. and
50. of course. is the country.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

James Hamilton Lewis-he of the
Narigated wiiskers and the yari-
gated Political experiences in hot
water again. This time the women oc
Chicago are On his trail as 4 result az
things he said in Il lecture before law
students in that city. "Remcmhet
he said that an oath means nothing 10
q woman. \ woman always comes to
testify rs a witness for one of nv,
reasons. Either she comes through a
sense of affection or duty to those she
loves or she comes to satisfy what she
regards as perfectly legitimate feel
ing OF resentment. II it is the first OF
these she will come through fire and
water to testify, and she will see things
as her friend views them. Sincerely
and earnestly she will testify that
things are as She thinks they ought to
be. and you may cross-examine until
you have exhausted the vocabulary
and you Will get nothing from her but
her ideas of what they ought to be. 4
woman has 10 idea OF the sancity o.
an oath, and woman will repeat whei
on oath anything which; She will sa,
when not on oath.''
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

Thr man who remarks that there Is
less interest in Sunday school than
when he was boy probably means
that he takes less interest in that
worthy institution than in the old
days. The person who knows looks for
the latest figures and here is what he
llurls at the pessmist. The actual rolls
of Sunday schools now show 12,000.0OO
pupils, taught by 800, 0tO teachers, at
tending l54, 900 Sunday schools. What,
do you suppose, the dealer in Slittering
Gencralitics can reply to that?
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
Things Are Brighter.
(SomerSet Reporter.)

The comptroller of the treasury
gives sensible view of the recent
financial panic, stating that the con-
ditions' which made this crisis possible
are the accumulated composite re-
suits OF many years Of business. The
whole world has been Overtrading and
expanding and nowhere has it been
more rampant than in the United
States. The reaction was inevitable.
But from every portion of our coun-
try comes the welcome news Of re-
turn of the good times VIC have so long
enjoyed. Let the grumbler and the
Pathfinder enjoy each others society.
but the men Of cheer and hope will go
forward with buoyant spirits and
elastic steps
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
Maine Gossip
The Whole Story.

Catchin' cold ar gcttin' well:
That's 'Inut al there is to tell
Of this life, II seems to me.
All the way from y 10 H.
Some one asks you How dye DOE
An you've only got les two
Answers, if the truth it told
"Gettir' well. or catcliin' cold
When your throat is feelln' sore.
An your head begirs 10 roar,
Then you know if you wait
Patie!. tly you feet first rate.
An ycu know. when free from pain
You'll be catchn' cold again.
That's bout all there it to tell
Catchin' cold an Settin well.
WASHINGTON Star
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
The Senate Currency Bill.

IRE Senate Committee on Finance has
got aLead CT the House Comnnittee on
Banking ana Currency in introducing q
vance means of averting the currency
famine. which is always & feature and
often the chief evil CT reimbursement Of
values such as led to a crisis last October.
will Of course be pressed. AMI CongT ess-
man Fowler ard the advocates OF asset
currency will be placed upon the defen-
sive. 1t is perhaps toe much to hope
there Will hn no partisan opposition TO
the,,adIicb measure HUT it r much u be
desired sbst tej b5I nEM - discussed
purely urofi' its merits.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
MAINE EDITORIAL COMMENT.
II Worries the Democrats.
Portland PreSS.)

Maine Democrats look askancc AZ
the movement to organize a branch OF
Hearst's Independence league in TINS
State. The Waterville Sentinel ui.-
corks a vial of it's choicest sarcasm
over G.. Langtry Crockett's advertise
ment for "a man in every town in the
State to represent the league. IL Is
the Sentinels notion that TO be Ell
fective the advertisement should con-
tain an announcement of good wages
paid to first class men. But Of course
the leaguers will be above mercenary
motives and ready to give their SER
vices for the good of the cause.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

The sudden death yesterday OF
George Il. Evans. vice president and
general manager OF the Maine Central.
comes as a shock to the people of our
State. Mr.. Evans was man Of the
highest character and undoubtedly one
of the abcSt railroad officials in the
country. over A. years ago, when he
was but l6 years of age. he began work
In the railroad business and in 1890 he
entered upon the duties of the import
ant office which he filed until his
death. His progressive ideas did much
missed.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

From an educational and sociological
point of view there may be two sides
t. this proposition to abandon the
Carlisle school for indians, but from
the football point Of view ii would be
a national talamitv
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
Considering the Mote.
york Transcript

Perhaps the chief reason why the
week OF PRAYER has fallen into such
comparative insignificance is because
men and women no longer talk
sincerely or freely of their own soul
needs and aspirations. Most of us are
50 busy nowadays in exposing the
fraiIties of our neighborS that We
haven't any time left to consider our
own spiritual needs.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11
The Currency Bill.
CEoston Advcrtiser.)

There Was presented in these columns
last month on outline of the cuIrency
raform bill hat seems to find favor with
t:,. members of the Senate tipance COM
n,ttee II is generally agreed AT WASH
inston that this viii be the bill which
will be considered by both houses. as
there seems little chance that the House
committee can he brought to agree on
any other measure. The compromise bill
is based on the general policy of allowing
Il clearing. lOuse association to issue tenn
pOrary roteS on the basis Of municipal,
state or possibly railro:d bonds. the notes
to be guaranteed BY tn" treasury. but to
h. taxed heavily enough 10 make certain
their retirement when no longer urgently
needed. Since the outline Of the bill was
Published in these columns. the fact has
become plain that the bill will be crit
icised in some sections of the country, on
the ground that il does not go far enough.
When the bill comes up in Congress there
is likely to be strong pressure tn change
the measure 50. as to allow other security
than bonds to serve as basis for the
emergency circulation. Possibly the COM
promise hill stands for the best that car
be offered. at present. for the support of
all sections. Surely it is better to pass
such a measure than. by sectional differ
ences and disaGreements. to prevent the
passage of any hill at all
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

Our esteemed contemporary. the
Springfield Republican, devote:' col
umn to discussing The Democratic
Party Minus Bryan" 1t might az
rim knocked off.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

Chicago. 1.-THE proud queen Of the
North and the West" as ths poet
called her In moment of fine frenzy
fallen from first to forth face in tn"
commerce of til, Great Lakes. Plainly
the Windy City must make 4 brace.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-01-11

The old motherin-law joke gets
bad jolt in the marriage Of DR.. Horace
y. Marvin Of Dover. Del, to the moth
er Of his second wife.