davidaulloa/AmericanStories huggingface dataset:
Omaha daily bee., 1909-10-17
Against a Central Bank

as when issued by thousands of national
banks separately.
Whether such notes would be safe or not
is not the sole question under discussion.
Their ultimate payment would depend
upon the management OF the banks issuing
them, whether large or small.
The chief objection is the conversion by
law Of personal credit into capital through
the issue of bank currency and the eonse-
quent initiation Of the money volume.
Any subsequent contraction of this vol
ume by the retirement of these notes,
whether by payment or reputation, would
be attended with oss-not to the issuers
of the notes. who get their profit when
theN put them out and cannot lose, but to
the general public.
The Necessity claimed for all currency
schemes is the prevention of panics.
The occurrences of 1907 are constantly
put forth as a sledge to force this kind Of
money upon the country.
The prominent financiers who press these
schemes and denounce opposition as due
TO ignorance and prejudice seem themselves
to be entirely oblivious to the fact that the
people of this country clearly comprehend
the underlying causes of that disturbance,
There was no lack OF currency at that
time to meet the commercial uses OF the
country, but there was a lack Of capital.
The banks in the great money centers
had permitted their means TO be absorbed
In ''undigested" securities. or In loans based
upon them as security. and were not in a
condition to satisfy the increased CONNER
cial demand for money Capital, not cur
Tency) which always comes in the fall.
The stringent loan market and high interest
rate. with the panic in the Stock exchange,
naturally caused distrust and brought on
the catastrophe which followed.
II will be admitted that our banking sys-
TEN should be able to meet without undue
strain the operations of even freak bankers
and spectators. but this may be accom-
plIshed without the aid of such drastic and
doubtful propositions as those advanced.
1t is said that our currency system lacks
elasticity and that some means should be
provided which will permit it to expand to
meet the commercial demand for money.
Our currency is far more expanded and
is no more rigid than that Of Great Britain.
the greatest financial power IN the world.
The rigidity Of the British currency system
has at times been denied and nearly always
obscured by the advocates OF asset cur
rency.
The endeavOr has been to induce the pub
lie 10 believe that this Is the only country
in the world with a rigid or restricted cur
rency system.
Hon. A. b. Hepburn Of New York city
has an article in the October Century In
which the strongest possible arguments for
a central bank OF issue are advanced In
this article he frankly comedies the fact
concerning Great Britain.
He states the debt secured issue Of the
Omaha daily bee., 1909-10-17

by Sphe confines it's operations TO trans
actions between banks.
IL Is difficult to see how a business so
restricted could be made attractive to the
capitalists who are expected to subscribe
for the stock.
Deposits could be obtained by the offer
ing of sufficient inducements. but banks,
as q rule. are not borrowers. They become
so only in times zof great s%tringency. and
these are %infreauent and II may be hoped
will eventually cease4totoccur.
Tho centrslsbenk mast therefore ,neces-
sarily find other means for obtaining loans
and discounts.
To be a partial proposition. II should be
vested with full power to .do~a general
banking business, like the Bank of Eng
land and the Bank Of France. and TO make
it Of national operation, it must also main
tain branches,
This Is doubtless the form the proposition
win finally assume. No matter in what
shape II may be presented. such a bank
must come into direct competition with the
existing banks, ana IL the branch plan Is
extended generally. say as in Canada, il
would lead to the destruction Of our exist
ing banking system. The credit and pres
tlge OF It's government connection would
give II great advantages over all. other
banks and this. loined with the fact that
these branch banks would be untaxed In
communities where the banks are now
called upon TO stand 50 large a portion of
the burden OF local taxation, would in
evitably result in the extinction OF the
latter.
The question at once arises lis there any
crying necessity for such a change in our
banking system and would Il be beneficial
o the countTy7" l think the question
Omaha daily bee., 1909-10-17
BY Henry W. Yates

should at once be definitely answered in
the negative.
These branch banks, owned and controlled
by men having M personal interest what
ever in the communities where they are
established, could not render the same
service to those communities as the pres
emit independent local banks.
In papers heretofore published this writer
has had occasion to show that our Amer
lean banking system is a product of our
American life and development and is pc
culiar to this country.
So far from being the worst banking
system in the world, as some writer's have
asserted, history will probably record 1t as
the best. Ii will be judged by what it has
accomplished and not solely by it's spec
.~tacular display of weakness at a few irreg-
ular intervals.
These weaknesses are apparent to all, but
g wise policy should lead to their removal
and not tend to the destruction Of the en-
tire financial fabric.
Granting, however, that in some manner
a central bank could be made to harmonize
with our existing banking system, there
are a number Of other objections to the
scheme which would justify its rejection.
Only one of these can be considered within
the restricted limit Of the present paper.
but It is In the writer's opinion the most
important Of all, as il vitality affects the
public interest
-
1t is proposed to give to this bank the
power TO issue bank notes to circulate as
money, without the bond security hereto
fore required.
This really constitutes the main incentive
for its creation, just as II has also been
in the many banking and currency re-
form scheme heretofore proposed for con-
gressional action.
1t Is doubtless true that notes issued by
a large capitalized central institution
would not be attended with the same risk
Omaha daily bee., 1909-10-17

HE QUESTION of a central bank
from the support II is receiving
in high political quarters has
now become a real issue n'our
financial discussion.
rrha Dronoattfon An advaurad
Omaha daily bee., 1909-10-17
''77''
Humphreys Seventy-Seven
Famous Remedy for Grip g.
COLDS

To reiterate, attend to the first
feeling of a Cold; lassitude and
weakness; by taking a dose of "sev-
enty-seven" at once, the immediate
cure will be certain.
If you delay until the sneezing.
Coughing and Sore Throat set in, the
cure by "seventy-seven" will be just
as sure, but it may take longer.
Handy for everybody. fits the vest
pocket. All Druggists 25c.
Humphreys Homeo. Medicine Co. Cor.
William and Ann Streets, New York.
Omaha daily bee., 1909-10-17

1t will be admitted that our banking sys-
TEN should be able to meet without undue
strain the operations of even freak bankers
and spectators, but his may be accom-
pllshed without the aid of such drastic and
doubtful propositions as those advanced.
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10
THE GRADUATING EXERCISES
Fine Glass of Young Ladies and Cen
rlemcn Finish the -Four Year
Course of High School.

The annual graduating exercises
of the Mitchell high school Were held
in the city hall auditorium Thurs
day evening, and they were a magni-
ficent success throughout
There WAS one thing out OF the
ordinary and that was that the ex-
e%rcises began ON time. superinten-
tendent lIoff announced that the eN-
ercises Would commence promptly al
$ O'Clock, and The people got The
idea taat such was tic case. When
$ O'Clock came the auditorium was
filed 10 the limit and the graduates
were ready to march ON the stage.
When They appeared they We're greet
cd with applause us they took their
places on the platform.
The stage was very p~rettily and APP
propriatcly decorated for the oeca-
sion. which was the work of the jun
Tors, who performed their last Office
| for the seniors. Suspended across the
front OIL the stage Was lne MOllO OF
the class, acknowledge is Power
each alternate letter being worked
in the colors of the class, purple anG
red.
The rogra was opened with 6
selection by the high school orches.
ira, and was followed with a mum
Der by the mixed chorus, which sang
80 My Loves Like a Red, Red Rose
both of which We're under the di'
rection of Miss Jessie Walrath, the
supervisor of music. AT variou:
points on the program the choru:
and the orchestra gave some must
| cal selections which added much tt
the entertainment of the evening. The
chorus singing Of the boys and girl:
shows something of the work tina
is being accomplished in the schools
in the way Of music, which has nov
been on the course of study for The
past five or six years. Miss Walratl
is earnest and consistent in her worl
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10
Miss Walrath in Elocution.

Saturday evening at the Univer-
sity chapel Miss Melissa Walrath was
greeted by d good audience of Yeo-
pie who listened TO a splendid pro-
gram OF clocution numbers. The oc-
casion was the graduating recital of
Mis- Walrath IN the department of
elocution. The young lady opened
her program With "A Good Lie Gone
Mrong.' by Hoyt, followed by two
charming numbers by Dunbar When
Malindy Sings and "Breaking the
Charm. In these Two selections Miss
Walrath was exceptionally good and
She added to the good impression
when She recited ooh, Let the Night
Speak of Me by Chadwick and The
Keeper of the Light by NanDyke and
Where Corals Lie" by Elgar. The
selections were of a different quality
and showed the fine range of work
of the elo%cutionist. She closed her
program with "The Ruggles' Dinner
Party and she brought out the hui
morous points o fthe number in an
excellent Miss Walrath was
assisted in her program by Miss Flor
enc Morris, who sang several select
ions charmingly.
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10


pleasure that he found last fall on
Learning he was coming to Mitchell
to preside over Dakota Wesleyan Uni
velsity.
\ piano duet. Sans Souci," by
Schuman. was rendered by Misses
EGlth Smith and Bessie Cobb. and
wa given hearty appreciation by the
audi nee.
Tn valedictorian of the class was
Franklin S. Wilkins, His GRAFTON
had to do with the formation of hab-
It's. He believed hat the habits of
a nation Wcrc governed by the hab-
its u lhe people, and hat the hab-
its ot he people should De made by
the ga schools. He spoke of a nuGl-
ben ri good habits which should lie
forrsel carly in life, Which would
hay q strong tcnde1cy to smooth
the 3 hway of the boy and girl grow
inG mo I.ature years.
In aeferring to the last years OF
their school life tie speaker SAID
theN have helped the class members
10 form a foundation of characts r
that Will be developed in later years.
MIR. Wilkins extended his sincere
THANKS TO the faculty of the high
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10

DIV dry. Tie land sales for the week
amounted 10 $4,000, and the follow
l.g are the descriptions of the lands
.4 and tie names of the gentlemen
MO bought it. w st half of ard the
west half Of The S. e. quarter of 80
and the y. ". quarter OF the n. w.
quarter of section 5, township 104.
range 60. This is an improved farm
and Was owned by Seaman and Nor
ris. This farm was bought by Geo. w.
Atkinson, of Kingsley, Iowa. Mr.. At
kinson will move on his farm next
spring. The east half of section a.
104. CT, is an improved farm owned
by Mr.. Sherman, and was sold to Jos.
Spielman, of Sheldon, Iowa. He will
also become a resident of South Da-
kota after March /. The east half OF
farm owned by Brown Bros. and was
sold 10 Mr.. Neitmeyer, of Freeport,
Ill. He is undecided as to whether he
vii, move to South Dakota or not.
The northwest quarter of section 10,
104. 60, was owned by w. I. Brown,
and was sold to w. w. Donaldson. of
Dixon. IL. Nir. Donaldson bought
III is land for speculation. The south
half OF %. 1903, 60 is an improved
farm and was owned by p. G. Rogers
& Arthur Miller, and was sold to
n,+;4 vp,ge, ~ C.lana III NV Ian-
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10
Mr.. LOOMS In RECITAL
The Young Artist Presented Il Rich
Program ut His Recital and
Showed Marked Ability.

TN, o,,3,n, ,o4.l "a NJ. GU
o,o - ~
n.1,o.a v.o., ,..;.
w,f.nl,. ~. ,.3,;.
ia ,fanata,ta 49,,
.,, -,
!,
., -.
a.,
=,
~
.,, pa.aaaa o. g. . az
.e ~
90
~
~ y. &C.
. u, %
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10
SELLING A LOT OF LAND
Tho Kelley Land Agency Has Done
an Immense Business During the
Week Selling Land.

notwithstanding the rainy weather
of the past week, the Kelley Land
Agency has been selling an immense
amount of land to eastern parties.
Driving through the transforms and
through the muddy roads has been
no easy task, but Mr.. Kelley aid 1t
was much easier to sell a man a quar-
ter section of land while it was rain
ing then to attempt to make a sale
where the country looked exceeding
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10

and is impressing the young people
of the schools with the reeessi Of
cu|ltiyating the art OF singing.
Dr I. j. Macmurray. pastor Of
the Presbyterian church. offered The
Invocation which was a strong pray !
for the betterment of manhsn
through the educational forces,
that the young people might be ID
in the right path in their lives.
To Ralph Doyle was given the "a
utatory and he extended a hearty well
come to the citizens of the city for
the part they have had in helping
them to complete the four year course
Of the institution, and for the con-
slant encouragement hat had been
given the students of the graduating
class. This four years in the high
school, he said, had created in them
an ambition for sonnet ing higher
and better, and with what they have
already attained ii was for Them to
secure some practical knowledge Of
the world. Success. he said need
not mean hat you are to EXCEL ali
others. but it does mean that YOU
are to get the best out of yoprs lves
all The time and that the world shou q
be better for having lived IN It. Re
urged the student to concentrate li=
mind on whatever Ii ATTEMPTED to
do, and not permit II to wander for
the momen on something Of lesser
importance and to maintain strong
viii power to moro successfully bat
lie with the diGicu.ties that cree meets
in the strife Of the word
DR.. Kerfoot delivered the addre
of the evening in place Of he usual
orations, and his speech in full VIII
be found on page . of The Repuhli-
can. He was introduced 10 i 9 aud
fence by rllcipal Manthey. Who took
occasion 10 refer to the first time that
he heard Dr.. kerfoot speak. and the
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10

we're Mr. Looms d h.aself 10 the
a1rta et.oll of tb Is, he certainly
waala ma-eer ta diniealtg as h So
y has ne ia ohg eoF}s "a
sir. Laoa intarpr tatioa 81 the
.C a9ia .ld |srhumann .ambers
at.l5 aet .ait 10 reveal Ids Soen an
prs station of eathetscs in composition
form ot Both nlouopson!e and on
trapent i f2pa ne handles his es-
III ssivo with psychological perfect
len. bringing sHcces ding phrases to a
finish " h the utmost are through
graduation. Not. once did he blur
Wit tie pedal or otherwise when
finishing che phrase and taking up
another.
To-day Mendelsshon's name is not
50 frequently found upon programs of
ptanoforte music. The uses of his so
called Songs Without Words. how
ever, Will continue for some time to
come to furnish sudents with the
nee ssary material for the special
treatment require.l in the Develop
meut of me'ody-buildins, accent.
rysl ISL, oppression ana accompan:-
ar-a.odH alton &c.
Is. Tie r. apsodie 30. -. vs. List,
Nm. Loo d i4cnstra ed hit ability
L- 1-r-
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10

-tsG-tAiti vi &ai bAi.'''41- \
erin aa,.sllt *ylf pre- ented The
tti onlas to 4a members Of the clas
he " uted to tAtna Inc mag
e audieac Tor its attendance,
lit indicated It's him taat hes @as
p intares prevalent in the
Ills, which was shown in differ
ways, referring particularly I'd
new high school building IA
Sc of construction. The sup 81
e4lent took advantage OF the oI
unity to say a word to the par
e..ts about keeping ths.r children
in the high school until they had fin
ished the four year curse. He sal !
it was so often the case hal those
coming UP from the eighth grade
would remain in the high school a
couple of years and then drop out, al.
of which he considered was much OF
a detriment to The cht,4Gen.
To tn c.a-s the superintendent
said tAat hayi4e j. en- q With
them in their scE DOL worn, knows
they would tacrea~e ,ae-r E d q
nd they Womb iaa. hes w. al
.9ut al u3- 10 Use
10Th in cAe f Ios rjaaaer aao
Tor their ous e3 liar O q
le,-,, ..r.. -, .tt,, to :
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10
Nut Bread

For two loaves. take one-half cup
full sugar, -four cupfuls of -four. four
teaspoonfuls OF baking powder, two
eggs, pinch of salt. two cupfuls of
milk. Mix Well and add II cupful
of nuts. Bake for thirty or thirty
five minutes in slow owe and test
with a straw.
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-06-10

the highest praise for his application
to his work, and certainty for the re-
suits he has so far attained.
Marc ID. Lombard.
The Washington times., 1909-05-30
Fat Is Out Of Siyle

TO arapl,rase Caesars remark, the
directoire gown came-was seen-and
has conquered. SO fat ladies' are re-
duced, so TO speak, to the necessity OF
either reducing at a very rapid rate
or eliminating themselves from public
view until the fashion dies out. other
wise they risk being ridiculous.
Since many fat ladies viii not elimi-
nate themselves, however buS, per con-
ira, viii insist on wearing the cuTVeless
gown no course is open 10 this we'll
meaning scribe other than TO tell them
how they may eliminate the fat.
what is there, then, that reduces fat
safely2 What pleasant inexpensive ar
ticle IS there on druggists shelves that
can reduce pound day without caus-
ing wrinkles or stomach ache2 What
can the pharmacists offer as an i'm
pFoVement over scanty ViCtuals or ten
mile walks without breakfast? Is there
ANYTHING pleasant TO take and inexDen-
sive to buy that viii reduce one v5ni-
foIn1ly, quickly and innocentIy thirty
pounds a month"; Here is the answer:
Either write the MaTmOla Company,
Dept. 81, Detroit, Mich, OF ask your
local druggist for Marmola Prescription
| TIE hIets, and for 80 cents they or he viii
give YOU one large case of these 50 &c
TAT redUcers. containing so generous a
quantity of tablets that sometimes one
/ case only is needed to produce the &c
sired results. Can you match that for
q simple solution of your problem
The Washington times., 1909-05-30
BIRTHDAY PRICES"
TO RULE AT HAHN S
Big Shoe. Houses Will Celebrate
Thirty-third Anniversary of
Founding of Firm.

Tile thIrty-thiTd anniversary OF the es-
tablishment of their successful business
* 10 be celebrated tomorrow by the
three shoe houses of William Hahn 4
60, AT Seventh and X street, l9ls-l5
Pennsylvania avenue, and 233 Pennsyl-
Vania avenue southeast.
Concentrating these thirty-taree
years Of success. the firm viii begin
tomorrow two weeks OF Birthday
Prices on rsny OF the most popuIsr
STYLES of footwear for the sumner In
every way, the Esd Birthday Sale
viii be an event OF interest 10 the eli
tire buying public and viii afford eN-
ceptional opportunities for shoppers TO
rejoice with the well-esta hlished firm IN
rounding out a third Of a centurys eX-
iEtence
william Hahn began business in 1871
IN q small i by S. foot store al 49,
Pennsyl MIA avenue. An eTrand box
Al that time comprised the store force
In addition to Mr.. Hahn. Since that day
the increase has been gradual bat
steady, and the FIRM now requires nearis
Seventy-fivc people TO conduct its large
shoe business.
NIessrs. Morris and s. Fred Hahn
brothers of the founder we're let into
the business soon after il became per
snanently established and in 1890 so large
had the hrm and its trade grown that il
WAS found necessary to incorporate. Its
rropTietOTs now also include Harry "
and Edwin Hahn in addition TO the
three brothers named above.
The Washington times., 1909-05-30

Miss Helen Could. the wealthy heiress
and charity worker OF New York, has
been named as the sole beneficiary IN
the will OF private soldier who recently
died at Fort Sheridan. Illinois .
As a result Of the private's bequest,
details of which were made public to
day AT the War Department, the mill
tarv authorities have forwarded 10 Miss
CouI,i, the soldiers six months pay. his
death benefit This amounts 10 little
more than 800
The soldier was Private John James
Bartlett OF Battery F. Fifth Field Ar
tuery. He enlisted in December, 1905.
Col II. T.. Rogers, depot paymasier.
located in this city. who forwarded the
money TO Miss Gould. has received from
ner a personal note OF acknowledge
ment. In this she says that she is deep
~ touched at such a tribute from a
soldier of the army.
Private Bartlett in filling out the slip
The Washington times., 1909-05-30
Died.

A.ANE-suddenly, az ReddinE Cal Nav %
1903. MICHAEL W LANE formerly ~
Washington. d. C. Remains en- route 10
Washington Tor interment
Notice OF funeral hereafter. II
JoHNSON-On SATURDAY. Nav g. 1872 Al
the home OF her aunt. Mrs NJ a Freeman
Good Hope d. e.. NELLIE r JOHNSON
aged eighteen years and five months
Funera5 Will take place from the home
Of her aunt, Mrs n. A. Freeman Good
Hope, d. g, At a. Monday, Msv 81
High requiem mass vii be sung At ST
Theresa Church. Anac0stls a. $50 a. IN
and viii be buried al 81. Ignscius Church
oxen Hiil. sd It
AILEN-On Saturday May y 1908 At 1915
a M MARTHA. widow Of Brevet Lieut.
Col. Edward Schuyler Allen, assistant quar-
termaster T. S A, IN the evenly ninth
year OF her age,
EARTER-on Saturday. May =. 1909. az il 40
a m. At her residence, 1713 r street north
west, EVELYN V, beloved wife Of Thomas
II. Carter.
GHEEN-on the afternoon Of MAY 2s 1909.
ARTHUR L. GREEN. youngest son OF the
late Edwin and Sarah Green.
LOVISG-On Saturday May % 1902 81 .
r. m. after illness OF four months.
JAMES ROBERT, beloved son Of James A
and Media n. Loving. aged seven years and
four months
NEVILI4E-On Saturday. Nav %. 1903 a.
5:f5 a. m, ANDREW NEVILLE
TRACTOR Saturday. May e. 1859 Miss
AT1ABELLA s. TRACY
KELLER Departed this life on SATURDAY..
Nay q 1903. az 1915 D. M. KARL. beloved
ana only son Or Charles ana Pauline ZeIler.
AGED four years and three months