davidaulloa/AmericanStories huggingface dataset:
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
John A. Stewart Came to the Rescue
When New York Bankers Hesitat-
ed to Take Bonds Issued In
Cleveland Administration.

The late John G. Carlisle, as secre-
tary of the treasury during President
CleVeland's second administration, was
several times more or less at odds
with the New York bankers. That his
relations with them were sometimes
strained was not either his fault or
theirs. 1t was the inevitable result
of the extraordinary financial condi-
lions of the time, which he saw from
one point of view and they from anoth-
er.
Mr.. Carlisle's task was trying far be-
yond the ordinary duties of the head of
the treasury department. He had
only few months when the great cur
rency panic of 1893 occurred. and dur
ing the greater part of his administra-
ton, panic conditions, which were the
result of reaction from period OF
oVerexpansion and the steady with
drawal of gold from the federal treas
ury, continued. Mr.. Carlisle's chief
task wat to maintain the gold reserve
In the treasury, which was constantly
being depleted by the so-called endless
chain process, which was merely the
use of greenbacks over and over
again. The exhaustion OF the gold re-
serve meant that the government
would lapse to a silver basis. That
was narrowly averted in 1895 by the
formation of the Morgan-Belmont syn
dicate, which sold to the government
the gold 1t needed, and guaranteed to
stop the expectation Of the yellow met
al.
Before that syndicate was organized,
however. the government borrowed on
two occasions $50.O0O,00O for the pur-
pose of replenishing the gold reserve.
The secretary of the treasury had to
negotiate the sale of the bonds for the
gold in Wall street. He had very de-
cided views as to what the bankers
ought to do in connection with the
loans, and he made those views plain.
With him it was a question of helping
cut the government The bankers, as
business men, also had their views
rs To- what they ought to do, and they
thought those views were entitled to
consideration. Mr.. Carlisle succeeded
in disposing Of the first lot of bonds,
nevertheless, but the negotiations left
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
FUTURE BEEF SUPPLY
Question of Food Supply Of Vital
Importance.
United States Department of AgricuI
ture Estimates Decrease in Num-
Der of Cattle at Million 70
+ Million and Half.

by B. O. COWAN. Assistant Secretary
American Shorthorn Breeders Associa-
tiou.)
Any question that relates to the
food supply of mankind is of vital i'm
portance. This is true at any time
and under normal conditions, but at a
time when nearly all food products
are abnormally high the discussion of
this question will attract greater at
tention. There is no means of de-
termining the exact ratio of beef to
other food products in the dietary of
mankind. but it is safe to say it con-
stitutes an important part. However
much other meats may enter into this
food supply, beef is a leading element.
1t cannot well be eliminated; there
seems to be no satisfactory substi-
tute. Hence the future beef supply is
a live question.
For several years well-informed
stockmen have CALLED attention to the
shortage IL beef cattle in t .e United
States and have predicted that this
shortage was becoming greater with
the passing years. These predictions
fell on listless or unbelieying ears,
even among beef producers. But the
claim has been substantiated during
recent years by reports from the De-
partment of Agriculture at Washing
ton. This decrease was estimated at
100000 to 100000 head annually.
Now comes the last census report,
showing that during the last ten
years beef cattle have decreased 6.8
per cent, while there has been an in
crease of 81 per cent in our popula-
ton. And what maks this shortage
in the amount of beef really greater
than the figures indicate, Is the fact
that beef animals are now marketed at
an earlier age than during former
years, so that they may not represent
the same amount of beef. At first
thought a decrease of .6.8 per cent. in
beef cattle in ten years should cause
no anxiety about future meat, supply,
but when it is known that this de-
crease Is coincident with an increase
of 81 per cent of beef eaters it pre-
sents a condition that merits the
serious consideration of the beef pro-
ducers.
The wonderful expansion of the
range cattle industry 20 to 25 years
ago, with free range and unlimited
grass, caused most corn belt farmers
to sell their cows and cease raising
steers. The subsequent encroachment
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
He Saved Uncle Sans Credit

in their wake certain amount of irri-
tation. Some of the bankers were dis
posed to think that the secretary had
been unduly dictatorial in his attitude
toward them.
When the second sale Of $50,000,000
Of bonds was authorized. the effect Of
the previous negotiations was discern
able. Many of the bankers showed a
lack of interest. 1t seemed likely that
they would ignore the secretary when
he came to seek their participation in
taking up the new issue.
1t seemed very likely to one man in
particular, and that man was John A.
Stewart, the president of the United
States Trust company. The more he
thought about 1t, the less he liked It.
He sat up the best part of one night
thinking about 1t.
1T would be a national calamity If
there should not be a general and
hearty response on the part OF the
bankers to this new offering of bonds"
he said to himself II will do what
can. personally. to make the bond
sale a success"
The next day he got in touch either
personally or by phone with all the
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26

ers have sold on the markets during
late years at $3.50 to Sc. and these
prices ought to give good profit for
their production, even on high-priced
land. 1t has been said that oppc-tu-
nifty knocks once at each mans door.
and whether or not 1t be true that
she knocks only once, a golden oppor-
tunity now awaits men of Judgment
and ambition who will enter this neg
lected field and revive the well-nigh
lost art of growing good steers The
price at which these can be sold,
either as choice feeders or finished
beeves. win certainly justify the ef-
fort.
Many years ago steers suitable for
the feed lot could be found In almost
any neighborhood. These steers were
generally Shorthorn grades, as the
blood of this breed of cattle was very
widely distributed owing to the early
introduction of Shorthorns into the
United States. The Shorthorn COW,
either pure bred or high grade, makes
an excellent mother for high grade
steers, owing to her beef form and
her milk production. Such COWS can
be found in many localities at moder-
ate prices. as also good cows OF 9TH
er breeds, and with the proceeds or
two fat yearling steers the farmer can
purchase a good pure bred bull. SO
there is strong encouragement for
farmers to begin growing steers and
no serious difficulty in laying a good
foundation for this profitable adjunct
to successful farming.
The choice of breeds must be left
to the farmer who may decide to I'M
dertake raising steers. Some breeds
are better than others. but there is
room for all good cattle. The one
thing that is essential is for the farm
er to get a good bull of the kind he
prefers and not be content with q
poor one. 1t is serious mistake to
think an Indifferent bull Is good
enough to sire calves from which to
make good steers. The only proper
treatment of an Indifferent bull is
castration and when the breeders OF
pure bred cattle realize this and car
ry it into effect, they will greatly en-
nance the value of their good bulls
1t cannot longer be denied that
there is shortage in our supply OF
beef cattle. The range country has
been so invaded by the homesteader,
and so many large bands of cattle
have in consequence been sent to the
markets, that ranch men cannot in
future supply all the feeders needed
in the corn belt. This shortage of
feeders will be more keenly felt in
future than now, and will tend to en-
nance values. According to official
figures, the decrease in the number OF
feeders sent to the country from the
five leading live stock markets during
the last three years is 133,S05. In
addition to this deficiency of feeders
sent into the country there has been
an annual slaughter of calves, espe-
cially during 1910. Speaking of this
market condition the Live Stock
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
How Joseph E. sheffieId's Sale of
Stock Affected the Future of the
New Haven and the Boston g.
Albany Lines.

When the late William Bliss be-
came, in 1880. president of the Boston
& Albany railroad, tAen the biggest
transportation line in New England.
he went to work very quietly but very
theoretically to obtain for that rail-
road through line from Boston to
New York, and make it a competitor OF
the New York. New Haven & Hart
ford for through business between
New York and Boston, on which the
New Haven line. then just beginning
to come into the field as great ma
tional system. had monopoly. With
that end in view he made plans to get
control of the Canal railroad.
The Cana" railroad was the crea-
ton of the late Joseph e. Sheffield,
the founder of the Sheffield Scientific
scl8yz, one of theHeading departments
Of Yale university. The road-off1cial-
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
During the Great Panic of 1893 He
Would Have Been Utterly Ruined
if Clearing House Certificates
Had Not Been Issued.

One Sunday afternoon in the mid
die of the summer of 1893, the late
Frederick D. Tappan, then president
of the Gallatin National bank Of New
York city, and chairman of the New
York Clearing House association, re-
ceived at his country place in the
Berkshire Hills, where he was spend
ing the weekend. telegram from
some of the prominent New York
bankers associated with the clearing
house urging him to come to New
York with all possible haste.
The great panic which marked the
first year of President Cleveland's
second administration was then at its
height. The treasury of the United
States was being drained of gold by
the operation of the so-called endless
chain. Money had sought cover, and
borrowers were unable to get accom-
mediation even when they had gilt
edged collateral to put up as security.
Everywhere there was a mad passion
to convert property into gold and
hoard It. Men with obligations to
meet in cash were in extremities, and
it had finally come to be believed that
only the issuance of clearing house
certificates could relieve the strain
and prevent an appalling financial
crash. The situation had become
strained to the breaking point when
that message was sent to Mr. Tappan.
and he took the late afternoon train
for New York.
Il arrived in New York early Sun
day evening ard went directly to my
house." Mr.. Tappan said when relat-
ing this incident to me sometime aft
erwards 81 had been there only a
few minutes when the door bell rang.
AS there was no one else In the house
but the housekeeper. went to the
door myself. | opened it and found
Ed Hartman standing there.
81 was shocked at his appearance.
He looked more dead than alive. He
was CHASTITY pale. haggard and sunken-
eyed. and seemed physically exhaust
ed. saw in moment that he was
In terribly nervous state and that 1t
was simply nervous excitement that
was keeping him up.
Are you going to do something
are you going to issue certificates to-
morrow he exclaimed In breath,
without any preliminaries of greeting.
IL you don't. am a ruined man.
have heavy obligations to meet to-
morrow. and I haven't been able to
borrow on any sort of security. II
the clearing house doesn't act. every
thing have will be wiped out
Ed said, you look as though
you hadn't had any sleep.
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26

bankers whom he suspected of being
offish or lukewarm.
II don't know what you are thinking
of doing with reference to this new
bond ISSUE" he said to Them" but it
seems to me that there is just one con-
sideration that ought to govern our
action in this case and that Is pa
triotism. This is a matter that in
wolves the honor of our government,
the maintenance OF its credit before
the world. If this bond issue is not
instantly subscribed to great blow
will be- given to our national credit,
which we as citizens will lament.
I appeal to you not to let any personal
feeling, any resentment in any quarter,
irfiuence you. In crisis like this we
ought to ignore any such feelings. and
to remember that we are American cit
izens."
In every instance the financiers to
whom Mr.. Stewart thus appealed re-
sponded favorably. The banks and
private bankers each took the allotted
proportion of the $50.000,0 900 loan, and
by the next day the gold was in the
sub-treasury, and the government had
escaped lapsing to a silver basis. which
Mr.. Carlisle had said would be newt
able unless gold was instantly SCI
cred.
Copyright, 1911, by E. j. Edwards. All
Rights Reserved)
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
is HEAD OF POSTAL BANKS

Theodore L. Weed, chief clerk OF the
postoffice department and Postmaster
General Hitchcock's principal execa-
tive assistant in the management OF
the department, has been appointed
director of the postal savings system
at $4,000 a year. He will assume his
duties Immediately.
The extraordinary development OF
the postal savings system caused Mr..
Hitchcock to organize a special bureau
to take up the work.
Mr. Weed was appointed to the gov
eminent service from Connecticut in
1898.
Mr.. Hitchcock predicts that before
the end of the current fiscal year the
postal savings deposits will exceed
$50,O00.000 and that the system not
only will be self-sustaining but q
source of profit to the government.
Already the deposits have reached a
total in excess of $15,000,000.
OF the four important Offices that
opened for business August last, Chi.
asst available statistics, led with depos-
I'D xxr{kn &1E2a
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
Il Was Necessary.

A year or two ago Vermont town
employed trained superintendent. a
college man who knew what a school
ought to be, to exercise supervision
over all the schools in that town. 1t
was the first time some of those
schools had ever been visited in an
official capacity by a salaried admin
istrative officer In one school lit
tie fodder was found studying per-
centage, learning 1t by heart.
''You should not teach him per-
centage," the superintendent said: ''he
does not know how to add and sub
tract
"But I've got to-" the teacher an
swered; 1.-THE front part of the 'rith-
metic is torn out
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
FRENCH CHIEF WITH TAFT

President Taft's efforts to secure the
ratification of arbitration treaties with
France and Great Britain was the spe-
cial theme Of an official speech made
recently by President Fallieres at the
New Years reception to the diplomat
ic corps at the Elysee palace in Paris.
There was a large attendance of dip
lomats at the function, among them
being Robert Bacon, the American am
bassador.
Sir Francis L. BERTHE, the British
ambassador and dean of the diplomat
ic corps, presented to the French ex-
ecutive the New Year Fluctuations of
the foreign representatives. He de-
clared that he and the other members
Of the corps felt certain that France
would continue to be powerful aid
In every work having in view the
progress of civilization. He added that
this permitted the hope that the gen.
erous initiative of the president of the
United States in favor Of the extern
sion Of arbitration to international
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
GOVERNOR ENGAGED TO MARRY

Robert Perkins Bass, governor or
Hampshire, Is engaged to be married
to Miss Edith Bird, daughter OF
Charles S. Bird OF East Walpole. and
a granddaughter Of the late Francis
w. Bird. She is well known in the
Norfolk Hunt club and for her exploits
in the hunting field. For, the last two
or three years she has made her home
In New York. She is a brilliant con-
versationalist and young woman Of
striking personality
Mr.. Bass is the first public primal
governor OF New Hampshire. He VI
nominated in 1910 over Bertram I'll.
Of Keene in a statewide primary
which the old organization supporte
Ellis and the so-ca1led Progressives,
who had grown up around the Win
ston Churchill candidacy, voted for
Bass. He was elected in November,
1910. He was one Of the speakers at
the recent meeting of Progressive Re-
publicans in fremont Temple, in Bos-
ton, with George l.. Record OF New
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26

They saw rich man pass, and they
saw, too, how the world bowed down
to him as II he were somebody great
Can a man. by taking thought,
add cubic to his stature?" demand
ed. with fiercely resentfil air. the
cynic.
The optimist' thought moment
Probably not" be made answer at
length. But there are so many other
things he can take. you know" -
Puck.
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
Danger Of Attempting Too Much.

Sheep require different feeding and
handling from any other animal on
the farm. Even though you are an
experienced sheep raiser. don't get
too ambitious and try to manage q
larger flock than you can keep up tr
the standard OF excellence.
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
Feeding Ducks and Geese.

Ducks and geese should not be fed
too heavily il intended for breeding
purposes. If grass can be had, ducks
and geese will need no assistance;
but If they have only partial for
aging ground, consisting OF scanty
heritage. give cooked turnirs or pota
toes at night.
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
Crisis For Two Great Railroads

ly, the New Haven & Northampton
railroad-owed the name by which it
was popularity known to the fact that
it followed the line of the old New
Haven and Northampton (Mass.) ca
nal. OF itself of minor importance.
the Canal railroad became OF great
strategic value as link in the project
ed Boston & Albany through line to
New York. Connecting with the Bos-
ton & Albany at Westfield. Mass. it
would serve to extend the Boston &
Albany to New Haven. Thus, the COM
pletion of through line to New York
from Boston would involve the con-
struction Of only about 70 miles OF
new railroad, paralleling the New
Haven road between New Haven and
New York
In the latter part of 1880 and the
early months of 1881 purchases OF
New Haven & Northampton stock
were made in the open market for the
Boston & Albany interests The stock
was the selling at from about so to 80.
A few years previously 1t had sold as
low as 49, The road had not been
paying dividends regularly. but only
little before this dividend of four per
cent. had been declared.
There were some vague rumors
about these purchases. but they caused
the directors of the New Haven no
alarm. 1t is understood that a para
graph which appeared about March.
IN h01 IN
field. Mass. President Bliss's home.
first aroused the New Haven peoples
suspicious. The writer of the para
graph appeared to have inside infor-
nation. and the directors of the New
Haven by some cautious inquiries
quickly convinced themselves as to
what Boston & Albany interests had
in view.
The discovery gave them big
fright. For years they had been
haunted by the bugaboo of parallel
railroad between New Haven and New
York, and here 1t was about to be
materialized as part of new
through line from New York to Bos-
ton.
There were some hurried consulta-
tons, and then some of the New
Haven directors went to see Mr.. Shelf
field. Mr.. Sheffield, who was then a
man of advanced age. owned about
one-half of the $2,460,000 of the CAPT.
tai stock of the New Haven & North
ampton railroad.
"Will you sell your Canal railroad
stock?" his callers asked.
Eyes. as my figure"
what is that?"
"Par value. one hundred dollars
share"
Every well We will buy it now"
A few days later, to the great as
constituent Of President Bliss and the
Boston & Albany interests. which had
been dickering with Mr.. Sheffield for
his holding. the stockholders of the
Canal railroad elected a new board OF
directors, majority of whom were
identified with the New Haven sys-
tenn; and the majority Of the stock
was voted by a capitalist who. as
trustee for the New Haven. had bought
from Mr. Sheffield, at the latter's own
terms, controlling interest in the
Canal road at cost Of $1.229.S 800.
This was the turning point In the
history of these two roads. Today the
New Haven practically controls all
New England transportation. while the
Boston & Albany has lapsed into the
condition of leased railroad. and is
now indirectly part Of the general New
Haven railroad family.
copyright, 1911. by e. J. Edwards. All
Rights Reserved)
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26


results 1888
Responding would
labor
Like Mr. Ambassador the President continued I'VE congratulate
president the United
arbitration be
application this principle will determine for and
differences
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26

of the homeseeker clamoring for land
has gradually circumscribed the ranch
industry and in many instances has
caused the sale of large bands of cat
tie. The liquidation from this cause
for several years was of immense vol
ume. This is largely the cause of this
decrease of beef cattle that now con-
fronts the country If this decrease
is to be stopped, it will have to be
done by the cattle raiser on the farm.
Present conditions certainly invite the
farmer to re-enter this neglected field
of growing good steers. Good feed
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26

World says, 1T is a policy that can
have but one elimination. a bccS
shortage that will elevate the cost of
beef high above the reach of the
Masses
So the consensus of opinion of
those who have carefully studied this
question is that the country faces a
shortage in it's supply of beef cattle.
This will undoubtedly inure to the
benefit of men who are breeding beef
cattle. while the beef eaters will con.
tinue to pay high prices for prime
roasts and juicy steaks.
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
WATER BOX FOR GRlNDSToNE
Wooden Trough Arranged in Such
Manner as to Save Pouring
Can BE Lifted Up for Use.

We have box attached to our
grindstone that can easily be raised
or lowered. A grindstone should not
be left in water, as 1t makes one side
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
NEW MAYOR ON THE LID

Corrupt and contented" no longer
describes the condition OF Philadel-
phia. The new administration CT May
or Blankenburg is purifying the city
and vice is already on the run, seek
ing cover.
The other Sunday for the first time
In 80 years the saloons of the city
were closed and all of Philadelphia
from center to circumference was as
dry as bone. Not only were the sa-
looms closed, but even the unincorpo-
rated clubs shut their doors, and the
various speak-easies, of which there
are more than 1000 In the city, were
in the main as quiet as a graveyard.
The few that opened were promptly
raided. The doom Of the speak-easies
has been sounded in Philadelphia, for
not only is the administration opposed
to their existence, but the brewers and
licensed saloonkeepers are also max
ing war on them and soon their names
will be only a memory.
R1yt tho reform administration ~
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26

disreputabe
the
right
them what they consider their rights But the
until
Philadelphia
cities in the landa ndo morally.
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26

Jersey and clifford Of
predeniai nominee the
Republican convention
interested and president OF the New
small
ba acouision by the
Foster Bass Robert Bass born
II chicago September Of 1885,
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26
Horse Left United.

Leave a horse united when hooked
to q vehicle and he viii be likely
to be gone when you return for him
Greene County herald. (Leakesville, Miss.) 1898-current, 1912-01-26

great saving in time to have water
box like this, as It saves pouring
water on the stone.