davidaulloa/AmericanStories huggingface dataset:
The Oskaloosa herald., 1912-12-05

The Christian Endeavor of the
Friends church held social Friday
evening at the home of President ID.
Nj. Edwards, for the students of Penn
College, who could not so home over
Thanksgiving. A fine program was
given and games were played. Re-
freshments were served. About thir-
ty-fve or forty were present and
everyone enjoyed themselves greatly.
The following program was given
Reading-Eva Wickersham.
Readng-Reed Stewart.
Reading-Elmer Tatum.
Piano Solo-Marie Walthall
Male Quartet-Willard Farr, Dwight
Abrams, Frank Marshall and Harold
Lane.
The Y p. B. held box supper at
the Buckeye church Nov. Goth, which
was great success. The program
was as follows:
Song by the Y. p BIS.
Reading-By Alline.
Music-By Louie Rice and Carl
Campbell.
Reading--By Ray Anderson.
Banjo Music-Walter Campbell.
Paper-The Y. p B. Budget.
SOnR-By the Quartette.
The sale of the boxes amounted to
$l9.S0. A general good time was had
by all.
Mr. and Mrs. o. p. Oede entertain
ed number of out-of-town guests at
their home, lO9 North Third street
Thanksgiving day, the affair being in
the nature of a family gathering.
ThC'e partaking of their hospitality
were Mr.. and Mrs. Geo. Buckley, Ray
mond Buckley and Frank Buckley, OF
Chicago; Mr.. and Mrs. J. G. Buckley
and Harold Buckley, of Washington,
and Miss Mabel Buckley. of Iowa
City.
Miss Helen Myers entertained
company of her young friends at the
home of her aunt, Mrs. Albert West,
SAT Ninth avenue East, last Thurs
day evening. Games were played and
refreshments were served. All the
young people present had very en-.
joyable time and declared Miss My
ers a very able entertainer.
- - -
Mrs. G. +. Fraker entertained a
company OF ladies at luncheon this
afternoon at the first of series of
social entertainments to be given at
the Fraker home, No. S1S High ave
nue. east.
- - -
Mrs. Elizabeth Birdsall will enter
tain company of about forty ladies
at luncheon at her residence, No. 2
Elvyn Place, Tuesday afternoon OF
this week. IA E "A al
The Oskaloosa herald., 1912-12-05
CLUBS AND SOCIETY
Various Happy Occasions Among
Town and Country Folk.

AS man asleep l sat dreaming,
- heard frightful noise:
was the "Doings of the Dozen"
with It's fifty girls and boys.
Inc noise was made in Iowa.
but twas heard in New York City
oherif Reed arrests the gang.
Twill be an awful pity.
Inc one that makes the loudest noise
10 him a prize is given:
anu wnen ne hnds the prize is won,
he thinks he's gone to heaven.
10 MIN that talks the loudest,
Inc others have to listen;
III they start conversation a.
lheyll find their something missin'.
A scripture lesson each must learn
To save his reputation,
Unless some railroad crossing
Removes the obligation.
Through heat and cold, through wind
and rain,
No difference what the weather:
Up bill and down, through thick and
thin,
The club must meet together
TO cater to the inner man..
uplift the spirit likewise;
Extend their days, improve their
minds fr
And seek each others welfare.
TO celebrate the natal day,
or each and every one,
With kindly gifts and kindly words
They think it's lots of fun.
A pumpkin shower hit A. c. N,
And knocked him almost silly;
Amazing pumpkins they were, too,
Filled up all willy nilly.
With handkerchiefs and neck ties,
Beer stems, mostache cups and such
And other things not mentioned here,
think it beats the Dutch"
But best of all, the right good cheer
As shown by things to eat;
OF pies and cakes and coffee,
The Dozens" hard to beat.
The midnight hour comes on apace,
l ne new uay Dawn is just dnedu,
And Morpheus. the god of sleep,
Says come, let's home to bed.
Then God be with you, the usual song
They sing in sleepy, drowsy tone;
Till we meet again, 1t won't be long,
Then all depart for home, sweet
home.
- - -
A party of about thirty-five couple
held a social dance at the Armory
Friday evening. The music was fur
nished by the Mahanna and Ogle or
chestra, of Iowa City, and everyone
present declared it the best dance
given SO far this season. .,,
-. - =:
Thanksgiving festivities covered a
period of two days at the home of Mr.
and Mrs. Charles McGlasSon, No. 469
North Seventh street They had a
house full of company Thursday,
members of the family circle and on
Friday Miss Hazel entertained a
number of her friends. Present from
out of town were Mrs. William Har-
per, son Charles and daughters Min
ME and Nellie, Thomas Harper and
family, Mr. and Mrs. w. o. Parker,
Willis Parker and family, Miss Coda
Haight, of Givin, Mr.. and Mrs. Earl
Roberts and Miss Hazel McGlasson,
of DeS Moines.
The Oskaloosa herald., 1912-12-05
CAPITAL STOCK. 100000
Paid in Full.

Directors: w. l. Beans; Charley
Victor; w. H. Springer; Thos. j.
Wilson; r. w. Moore; w. c. Reed:
w. H. Pike; Paul Synhorst; Geo. S.
Prime; r. X. Davis; M. S. Downey.
Complete set OF Safety Deposit
Boxes. The $50 stockholders are all
Mahaska County farmers.
Farmer: Make this your head
quarters while IN the City. I6tf
The Oskaloosa herald., 1912-12-05

tockholders is to be exempt from
corporate debts.
tSigned) w. A. MCNEIL.
j. r. McNEILL.
CHARLES Il. L0FLAND.
l9w4 Incorporators.
The Oskaloosa herald., 1912-12-05

Mrs. G. +. Fraker entertained a
company of ladies at luncheon this
afternoon at the first of series of
social entertainments to be given at
the Fraker home, No. SlS High ave
nue. east.
The Oskaloosa herald., 1912-12-05

Mrs, Elizabeth Birdsall will enter
tain company of about forty ladies
at luncheon at her residence, No.
Elvyn Place, Tuesday afternoon OF
this week. q "a
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01
ing credit system primarily on stocks and
bonds
Cooperative Central Reserve Needed


Our many-reserve system has broken
down under every great strain. In the
panics of 13, 90 and 1897 which cost
us untold millions of dollars. our scat
tered Reserves were powerless to uphold
the structure of credit. In the pinch, the
thousands of smaller banks could not
use their own little boards of cash they
had grabbed out of the central reserve
banks because the law forces every bank
not only to build up a reserve, but to
keep it intac. az all hazards.
The cash our banks must hold for
emergencies must not be used for emer-
gencies. Thus says the law.
With a great single reserve, where
loans based on industry could always be
rediscounted by the lanks, the panic OF
1867 would never have occurred.
We have enough gold in the banks
amply to uphold the structure of credit
The reason the structure collapses
periodically i'm the United States is that
the cash reserves. divided into 25,oOo
small reserves. fail to do the work of
supporting the structure that they would
do IL combined into a central reserve.
without a central reserve: and il is like
wise the only great banking country that
suffers from money panics.
The only way we have checked great
panics has been by temporarily combin-
ing reserves. through the clearing houses
The banks in 1907. i'm the midst of panic.
pooled their reserves in the clearing
houses This stopped the panic. What
We should do is to pool the reserves OF
the banks permanently.
Our manyreserve system forces New
York to assume the position of the
keeper of the basic banking reserves and
New York must continue 10 be the bank
ing ruler so long as the system continues
The country has the choice of allow
Ing New York to continue as the keeper
of the final reserves or of establishing
a cooperative central reserve at Wash
ington. in which all the banks of the
country will have a voice. and which no
section of the country will dominate.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01

For Beautiful Oak or
Mahogany Desk, ele-
gantly finished. Value.
$3.50.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01
absolutely required. The idle money
drifts to the central reserve banks.
Our Reserve System Collapses.

AS a result of this system of redeposit-
ing reserves, the national bank state
ments show reserves greatly in excess Of
actual cash holdings. Reserves of $1,000
G0O,Goo are now shown with less than ST.
Coz, 0O0.0 of cash. The country banks re-
port reserves of more than SJ00.G00.O0o.
but more than half of these reserves are
in the form of credits at reserve banks. In
the same way the reserve city banks
show reserves of nearly JooO0,000, but
only about half of these are cash in hand
The rest are credits at central reserve
banks.
While the official returns of the national
banks show reserves of 2l per cent
against deposit liabilities. the actual cash
reserves are less than il per cent.
This system of redepositinS reserves,
without any foundation OF great public
single-reserve uphoiding the whole struc-
ture of credit collapSes whenever the
country banks and reserve banks in d
time of panic attempt TO convert their
credits at the central reserve banks into
cash in hand.
AS soon as the country banks attempt
to draw down any large part OF their
$250, OO0. 900 deposits at the reserve banks
and the reserve banks turn to the central
reserve banks New York. Chicago and
St. Louis-but, in the end, New YORK;
our system fails.
The New York national banks, the
holders of the ultimate reserves, carry
net deposits for other banks OF S.'oo"U'-
OG0 and any general attempt on the part
of interior banks, in a money panic. 10
draw cash against these deposits must
inevitably result in disaster.
No Reserve Laws in Other Countries.
We have stringent cash reserve laws,
Not only for all national banks. but for
MANY state banks. No other banking
country requires its banks to keep cash
reserves But We have money panics and
thew do not In times OF stress. our
banks stop paying cash and stop loanins.
intensifying distress. In other countries
the banks meet financial storms by pay
ing cash freely and loaninS freely.
In other banking countries. with the
single-reserve system, Where money pam
les are unknown, and where there are no
violent business-di disturbing fluctuations In
interest rates no Importance is attached
to individual money reserves. The chle1
reserves of foreign banks are the sec
Cndary reServeS-iquld resources winch
can be quickly sold or rediscounted at the
central reserve reservoir. Ihese second,
ary reserves are largely discounts based
on goods soon to be consumed. The dis
counts are highly liquid, because the con-
sumption of the goods Hquidates the
loans.
Our secondary banking reserves are
chiefly call loans on investment securl-
ties. A great mass of these loans can
not be liquidated without creating stock
exchange panic And the very fact that
the central reserve banks OF New YORK
must create a mass of stock exchange
loans, for lack of any other large sec
ondary reserve basis, In itseif unouiy pro
notes speculation in investment securi-
ties to the detriment of productive
ours is the only nation basing its bank
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01

in many instances, is In open rebellion
against any increase In assessment. eight
out of nine presiding elders OF the con-
ference submitted. a resolution resolving
that the defendant boards of this con-
ference are instructed in making their
assessment for the coming year in no
case to make the total assessment for
any board greater than 1t was during the
year just passed
The resolution was adopted. The general
trend of the resolution was that the
people are resenting being assessed and
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01
INDIANS SEEK $17,000,OO
Choctaws and Chickasaws Desire
CUSTODY of Their Funds.

ARDMORE, Okla, November 30-Steps
were taken here today which the
Choctaw and Chickasaw Indians hope
eventually will induce the government to
distribute among members Of those tribes
SIT 900, 600 derived from the sale of their
lands in Oklahoma, which fund the gov
eminent holds.
Resolutions were adopted at a meeting
of 200 leaders of both nations urging the
distribution of the money, and asking
Congress to enact such legislation as
will no longer make the tribes wards of
the government. The matter will be
presented to Congress as soon as prac.
ticable.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01
THE BANKING LAWS
And MONEY TRUSTS
BY GEORGE M. REYNOLDS.

President Of the Continental and Commercial
National Bank Of Chicago.
Thirteen banks in New York and Chi
cago carried in their vaults at recent
date $33O,0OO, 900 in cash-sS0, 600, 900 in
three Chicago banks and $3.50, 900, 900 in
ten New York banks
All the rest of the $4,000 banks in the
country carried only a little more than
$1,000, 100000. These thirteen great
ba nks, in other words. hold one fourth
of the banking reserves of the nation.
The concentration of cash in the east
ern financial center is even more Strik
ing. The banks of New York normally
carry in their vaults $500.0OO,0OO cash
reserves. This is one-third of all the
money in the banks of the whole cOun-
try. 1t is one-sevenrh of all the money
in the country-in the banks, in public
treasures and in the hands of the peo-
pie.
This huge piling up of cash in the
great banks of the financial centers
gives rise to the popular belief of the
existence of money trust. Many
good Americans believe that a few
banks. with this great store Of cash
in their vaults, have secretly Joined to-
gether to monopolize the credit of the
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01

coin and bullion. Any general attempt
to convert wealth into gold must quickly
result in a disastrous collapse OF the
credit machinery If the railroads turn
ings into hard cash" they would empty
the banks Of money within few months
If the farmers sod their crops for. cash
and boarded the money as fast as II came
in, they would have every cent or money
in the country long before they had mar
keted the products of a single season
The barbarians of old had some sue
cess in keeping their wealth in the pre-
ci0us meta s, but civil lied peoples DO not
secrete idle boards of the worlds money.
II is humiliating fact that in recent
wears Americans are the only people VINO
have engaged in barbaric struggles to
convert property into hard cash. Inc
1907 banking collapse was the result Oh
IL barbaric, panic-stricken attempt OIL
hank depositors to convert their credits
at the banks into cash. The banks
could no more perform this miracle than
they could convert base metal into fine
gold. They had to stop paying cash.
Strength of Single-Reserve System.
England. France and Germany no
longer have money panics, because bank
depositors abroad. even in times of finan-
cial stress, do not attempt the impossi-
biity of converting their wealth into
gold. The Bank of England and the
whole English banking system would col
lapse if depositors suddenly demanded
gold.
\ single-reserve system commands pub
lie confidence and prevents the collapse
of credit \ many-reserve system SO
scatters reserves that they are unavaii-
able and insufficient in time of need.
While we have a many-reServe system,
In which every bank holds its own cash
reserves. we have, as a result of redepos-
itiny such a concentration of banking
reserves in New York as to give us the
semblance of a sing e-reSerVe system.
Banking reserves are Kept Tor emerSen-
cies We have in this country an ap-
proach to the single-reserve system dur
ing periods of financial quiet. But when
the emergency arises and reserves a. e
needed to keep the credit machinery go
ing then our reserve system suddenly
disintegrates into a many-reserve system,
with resu ting financial: collapse.
The 25,CO0 banks Of the country make
the New York banks the keepers of the
ultimate banking reserves in fair weather,
but when a storm comes, and these ac-
cumulated reserver In Kew York are
needed for the general defense, then the
5000 banks tear down the central re-
serves, and each one tries to weather
the storm with what little it has snatch
ed from the emergency fund. The system
is a panic b: eeder.
The national banking law, by its pro-
visions for the redepositing of reserves.
makes New York the holder of the u.ti-
mate reserves. Country banks can keep
three-tifths of their reserves in the form
of credits at central reserve city banks.
Reserve city banks can keep half their
reserves in the same form. In other
words. a country bank, with 100000 idle
reserves, can put $4,000 of these re-
serves at work by depositing them with
reserve bank. Naturally the country
banks and reserve city banks keep no
more idle money In their vaults than is
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01

that more money can be raised by free
will offering than by assessment
The conference selected Oxford. n.
c.. as the place for holding the next
annual conference. The work OF the
conference is being rapidly transacted.
and 1t is believed that the appointments
of ministers to charges for the next year
will be read by Bishop Collins Denny
Monday morning.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01
McKINLEY's COUSIN DEAD.
Frederick H. Allison Succumbs in
BIRMINGHAM. Ala.

BIRMINGHAM. Ala, November 3d.
Frederick Fl. Allison. cousin to the late
President William Mckin ey. died in Biz
mingham suddenly today from heart fail
ure. He was indisposed about three
days. His home was In New York, but
he was here visiting his brother, Mai.
Charles Allison, clerk OF the federal
court.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01
CHURCH ELDERS PROTEST.
Defeat Increased Assessments in
North Carolina NJ. E. Conference.

FAYETTEVILLE n C.. November
3O.-Protestins against any increased
assessment of members for any depart
ment of church work and declaring that
the membership of the North Carolina
conference of the NJ E. Church South
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01
Barbaric Struggle for Cash.

The banking system of England is built
on much smaller proportion of cash
than is ours, but it does not periodically
collapse, as does ours, because the Eng
lish people have great confidence in their
banking system. They do not rush mad
ly to their banks in times of financial
stress, as We do, for the purpose of con-
verting property into gold.
No banking system can Withstand a
mad scramble for gold OF the $125 600
OOO, 600 of wealth in the United States.
only 81 800, 100000 is in the form Of gold
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01

This stove is
made by the
Lo ID c u =.
which in itself
is a guaran-
tee. Made OF
the best cast
: ( e o |. a N Il
handsome in
appearance.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01

1t pays to read the want columns OF
The Star. Hundreds Of situations are
filled through them.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01

Extra heavy,
G o II [ 1 n u GUS
post, i'm best
porcelain white
enamel.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-01
SPRlh

Ii g n u ! n q
Woven w ire
Iron FIR a m g
SnrinN
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1912-04-25

has proposed that the net incomes of the rich
shall pay something to the support of the
Government under whose fayoring laws they
become rich. He has proposed that the peo-
pie shall pay less for the necessaries of life,
less for the clothes they wear, and the tools
they work with.
He has proposed to take the tax off salt,
and to give to the needle woman cheaper
machine with which to earn her living.
Eighth: He has proposed to permanently
put up the price Of cotton, by increasing the
worlds capacity to buy, thus broadening the
market and increasing that demand which
always means higher price.
Ninth: He remains at his post of duty
when all the other candidates have left theirs
and are out hustling for votes.
Tenth: He has assailed the strong holds Of
all the Trusts and all the Trusts are out after
his scalp
q EleventllA, He sent no telegram Of con
graduation to Booker Washington when
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1912-04-25
President TAFT Sends Archie Butt 10 His Death

DUTY. He was soldier, and he had no
option in the matter. His superior officer
issued the orders, and he had TO obey.
The press dispatches reported his progress
We saw him arrive in Rome, Italy We saw
the Bishop introduce him into the Vatican
We sGao HIM deliver the sealed letter to TIE
OLD DAGO, VINO REPRESENTS GOD
on Earth. We saw the old dago read
Taft's autograph letter. We were told that
the old Italian petticoat wearer was deeply
pleased by Taft's hand-written mssive.
We were told that the letter congratulated
the dago on the appointment. of two Irishmen
and one Italian, to be red-tile wearers. We
were told that the fat traitor who is our
President thanked the old dago for the
appointment of these two Irishmen and the
one Italian.
.Whereupon, a large, section of the American
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1912-04-25

r IRST: He is old enough to be fully
= matured, and young enough to have all
the power of robust manhood.
Second: His private and public record is
absolutely unblemished.
Third: He is of Southern ancestry, South
ern birth and Southern sentiment.
Fourth: He represents the finest type Of
the Southern craftsmanship Of the old school.
Firth: He does not employ Jesuit as his
private secretary, and he does not crawl to the
Roman Catholic hierarchy.
Sixth: He had the courage to oppose the
infamous Sherwood Pension bill, which pro-.
posed to pay as much to the bounty jumper,
the camp-follower, the rich occupant of the
bomb-proof and the thirty days man, as to
the hero who served throughout the war, and
who came out mutilated wreck of humanity.
SEVENTH He has passed through Congress
the most magnificent measures of free trade
that have been proposed since the days Of
John G. Calhoun and George McDuffie- He
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1912-04-25

Those of us who can remember what
storm of Indignation broke when Gen Grant
offered the Secretaryship of the Treasurer to
the New York merchant prince A. T. Stew
art, wondered what subtle and sinister change
had taken place, when President Taft named
for his official family such notorious corpora
ton henchmen as Dick Ballinger, McVeagh,
Wlckersham, and Knox. The only decent
men in the cabinet were Hitchcock and Won
Meyer, both legacies from the Roosevelt
administrations
Very soon after Taft's Inauguration, scan
dals developed Morgan and the Guggen-
helms had been promised power-sites and coal
fields. Ballinger had been placed in the cabi-
net as Secretary of the Interior to facilitate
the delivery of public property to the plumber
ers Of the public. 1t just 50 happened that
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1912-04-25

that intoxicated negro was found in white
mans apartment house, peeping through the
key-hole Of white woman's bedroom, and
was deservedly beaten by the white man who
found him there.
Twelfth: Because he did not send his bows
and girls to school along with the negroes, as
Mr.. W. j. Bryan did.
Thirteenth: Because, when the BirmiDg-
ham Board Of Trade endeavored to GORGE him
at the behest Of the Steel Trust, he had the
manhood to defy the Birmingham Board Of
Trade and the Steel Trust
Fourteenth: When his honor was assailed
recklessly and envioVsly by ". J. Bryan, he
did not hesitate to publicly denounce Mr.
Bryan as an INSCRIPTIONS liar
Fifteenth: Because, the Georgia crowd Of
CITY. politicians that are trying to destroy
Underwood are the designing rascals who are
planning to put the country counties under the
feet Of the city politicians, as has been done
IN such States as New York, Illinois, Ohio,
ard Rhode Island
The Jeffersonian. [volume] (Atlanta, Ga.) 1907-1917, 1912-04-25

there was an honest subordinate CLAWS by
name, who could neither be silenced nor
bribed. He started the row, and in the long
run, Balllnger had to go. Mr.. Taft's bung-
ling mismanagement, and his untruthful
statements about the case, gave his popularity
its first rude check
His choice of playmates and his inlmoder-
ate fondness for personal pastimes, daepenad
the suspicion that he had no real conception
his great trust.
His constant use of special trains, his pros
trations before the Roman Catholic PRIESTS;
his awkward presentations in regard to the
PayneAldrich tariff bill; his base ingratituda
to the man who had made him PRESIDENT his
fumbling the Mexican situation: his vetoes
CONTINUED ON PAGE. NINE.)