davidaulloa/AmericanStories huggingface dataset:
The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-01-25
The Currency We Have

DEPOSIT CURRENCY-Saturally
elastic, but restricted by the reserve
system. which compels banks to sus.
pend loans when the legal reserve limit
Is reached.
GOLD-Fluctuates but it's interna.
tional movement is subject TO control
only by private ACTIVITY.
UNITED STATES NOTES-Quan
tity fixed by law.
SILVER-Quantity Fixed by law.
NATIONAL BANK NOTES Secur-
ed by Government bonds; fluctuations
in volume not related 10 the CHANGING
need of business.
The general stock Of money In the
United States is 1890, 600. 600. The
deposits of the banks in the United
States aggregate $l6 900. 900, 600 The
exchange OF commodities in the United
States reaches some such inconceivable
sum as $500 600, 600, 900 every year.
The wealth OF the United States Is
placed for statistical purposes at sl25.
100000, 600.
glance at the figures shows the
disparity between the amount of money
and the amount of bank deposits.
The disparity between the amount OF
money and the amount of the OK,
changes Of commodities is more start
ling.
The wealth of the country is placed
in terms of dollars for convenience.
The wealth exists The dollars in the
form of currency do not.
How does the business world effect
the exchange Of commodities 20 such
value as 200, 900 million of dollars,
when there is only 3.643 millions OF
dollars in the country
Obviously there is some other me.
dium Of exchange than what is called
money. There is IL is known des
posit currency. It is represented 10y
checks and drafts on bank deposits. II
is the most used currency the conntry
has by means of il, exchanges to tn,
amount OF at least 100, 900 million dol
lars are effected each year.
The medium OF exchange IN use con.
sists Of the following elements
: Deposit currency.
Gold
silver
The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-01-25
Iron and Steel Review

The volume of new business entered
by the steel mills since the first OF the
year has been scarcely equal 20 current
shipments but conditions indicate that
orders would be much larger Il mills
could Toe able 20 make earlier deliveries
on new contracts. The railroads are
constantly in the market for new shin.
ments and last week placed orders for
more than 5000 cars. 1863 locomotives.
1900 tons OF rails. and about 3, OtO
tons of bridge work.
Steel building orders placed dnrinp
the week called for Is. 600 tons ol fab.
ricated steel and bids Tor is O00 tons ~
bridge work were submitted 10 rail.
roads Very few of the fabricating
shops can make deliveries under four
or nye months from receipt Of specl.
hcationa, as the structural mills cannot
make deliveries under three months
The most interesting structural con.
tracts last week were for transmission
towers tor power lines. including 500
tons for shipment 10 Utah ana 600
tons for export to Spain
There was increased acti,itv In
wrought iron and steel pipe. including
20, 600 tons OF two.iuch. which went IN
the largest interests, and ~ milea OF 4
The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-01-25

pie. His successor is a physician of
high repute. who is well known upon
the range
A big delegation, about fifty in all,
came over from Crystal Falls for the
basket ball game last Friday night
Some came in autos, some in sleighs.
and some on the train but the impor-
tant fact was that they all arrived in
good time. They were welcome guests.
even If they did witness the defeat OF
the home boys.
James Cummings. who is engaged
in the plastering work of the new
houses at the Tnlly location, and who
has been spending week at his home
ia Crystal Falls, is once more ''on the
job =
The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-01-25
Brrd-Man Teach Flying in South

To teach our southern neighbors how
10 fly is the mission just embarked up
on by q. w. Beatty, the aviator who.
a few weeks ago, carried the winning
marks.mau in the worlds first aeriel
shooting contest.
Mr. Beatty left his Mineola. N Y,
training grounds last week. with his
pet biplane and a party consisting of
Mrs Beatty, an assistant aviator and
a mechanician. The first stop will be
made at Mexico CITY wnere an avia-
ton school will be opened and exhibit
tions given. This work will be con.
tinued throughout the principal conn
tries of South America. Big game
hunting, tor which Mr. Beatty is e.
quipped with his Remington high
power 5000. will bc feature of the
trip
Mr.. Beatty is informed that no coun-
try south Of Mexico. on this continent.
has yet been favored with satisfactory
aviation demonstrations and he has
been assured of a Welcome tor his little
party wherever IL goes. The bird man
expects TO make one flight over the
Panama Canal country in hie bIplane.
The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-01-25

gagged as conductor on the North
Western road. When the Iron River
Amasa run was put on he was conduc-
tor on the run for several years. resign
ing about two years ago TO 90 west,
where the family have since made
their home Miss McCourt was we'll
known here and had a number of
friends who will extend to the bereaved
family their heartfelt sympathy.
The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-01-25

to 10 inches. distributed among indie
pendent manufacturers. The American
Sheet d Tin Plate company advanced
prices of black aid galvanized sheets
81 per ton for shipment over the third
quarter of the year.
Pig iron was more active but irregu-
lar and easier in all distributing dis
tricts
The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-01-25
West Side News
From the Iron River-stambauSh Reporter
MINERS BANK STOCKHOLDERS
MEET

A. meeting Of stockholders of the
Apers' State Bank was held at the
nmercial Club rooms the evening of
Enesday, the l4th A majority of the
stock was represented and ths meeting
was taken up with the election of di-
rectors and with the consideration of
detailed statement OF the bank 8 con-
dition. made by Cashier X. A. Pack
ard. This statement shows. in round
numbers, paid in capital of $50, 600;
a surplus of $4,000: and deposits of over
500. 600. IA total slightly in excess OF
$12l, 403. The actual net profit for the
seven months of it's life, after the de-
duction of all expenses. amounts TO
nearly 5000 An excellent record for so
young an Institution. The directors
elected at the stockholders meeting
were J. s. Wall. e. L. Woodwork, p.
N. MinckIer, V ID. Laing. w. J Wal
ters, r. Ericsson, II e. Duff A. Mac
Kinnon aud r. A. Packard
The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-01-25
exceed imports.

exceed imports.
In this country there Is no means Of
controlling the international ebb an a
flow of gold. England has single
standard gold system, but IL has also y
discount rate. Under the operations
OF this system, gold becomes perfect
ly elastic medium. European central
banks always carry large amounts OF
foreign bills. These bills are first
line of defense against adverse bal
anues They are as good au offset a
gainst the country mon which they
are drawn as gold in the reserves by
raising or lowering it's discount rate,
the Bank of England, for instance. at
tracts or repels gold, and so compels a
supply exactly adapted To the needs Of
business. We have no such system.
Silver Element Stationary
the silver element in our currency
has been practically stationary since
the repeal of the Bland and Sherman
acts AS TO United states notes, their
volume has not changed since the re-
sumption of specie payments, January
/. 1879.
National Bank Notes
For flexibility---for medium that
can be changed TO meet the changing
currency needs OF business bank notes
alone are fitted While England ha.
only gold. il has such control over the
supply ana the quantity of gold is 20
nicely adjusted to current demands for
currency. that the Bank of England
notes are perfectly flexible In all
commercial countries with successful
banking systems currency demands
are met by banks. which are necessar-
lily in tonch with business, not bv the
which is not
A bank note is banks promise TO
pay. It is the same kind OF liability
as the deposit account II Is theoriti
cally the same TO the bank whether il
gives It's notes 20 a borrower or the
right to draw CHECKS Both obligations
are payable on demand.
Unresponsive 10 Business Needs
Since that time national bank notes
have become part Of the monetary,
system In quantity they now exceed
$500 600. 600 and form about one-hfth
OF the money in circulation They
fluctuate TO some extent ia vOinuie, but
their quantity IL necessarily limited by
the quantity OF bonds in existence
Thus IL appears that of the i've ele-
ments in our currency. two ARE ahso-
lutely fixed and three wniie tlnctuat-
ing 10 some extent, change ia volume
either with no relation Whatever TO the
changing needs Of business. ar are oe-
You'd control Our monetary system
is defective at every point
Cardinal Points Remedy
The remedies are obvious II is ne
cessary TO have:
IA United Reserve Agency 20 hold
the reserves of all the banks, To- the end
that there may be no cnrtailment OF
the power 20 loan. and therefore no in
reference with the elasticity OF deposit
currency.
9-National Discount Rate by which
the supply OF gold NAV be controlled
"A Discount system 80 that any
bank may be sure OF place where it's
highgrad commercial paper may be
rediscounted.
"A Bank Note Currency which win
respond 10 the needs Of business The
only security for snch currency IL bank
assets IN the form of commercial paper.
The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1913-01-25

WELL KNOWN YOUNG LADY DIES
Word has been received of the death
at Woodstock, Ore, OF Miss Esther
McCourt, daughter of Mr.. and Mrs.
Robert MoCourt, of Portland. Ore,
former residents of Crystal Falls and
Iron River. Miss McCourt was engag-
cd as librarian at Woodstock AMI had
not enjoyed robust health for some
time. An operation was performed.
but to no avail. Miss McCourt was
graduated from the Els ,anaba nigh
3hool in 1908.
Mr.. McCourt was for many years en-
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
A LETTER THAT BRINGS COKVIC.
TIOA,-.A. & N. PLACE FOR BOYS

Dear Leader:-This will tell you
we are busy attending the Farm
Eer:1 Institute. There are about
1s6o0 farmers aud their wives
here. Messrs. Green and Parnell
are here. Mr.. Armstrong and Mr..
R. Lee Ivy. of Lawrence, are here.
Our two counties are not as we'll
represented as they should be.
This is great place. 1t is indeed
a college every farmer of Mississ-
ippi should be proud of. Every
farmer and teacher in Mississippi
should come here and see the great
work being done. We have visited
the beef cattle barn and the dairy
barn. They could open our eyes
to the enormous profits to be made
from the beef business. They
showed US bunch of 3-year-olds
that would bring an average price
of $78. Then over in the dairy
barn they show US that money, and
lots Of it, can and is being made
from the dairy business. They
show,us how to care for the cows.
how to balance her rations, and in
fact, every phase of the dairy busi-
ness is explained.
We have already had splendid
addresses from such speakers as
Hightower, Whitfield, Pate, Cobb
and Miss Powell. / am sorry
cannot tell you in detail about
everything. It's great. Come and
see for yourself next year. We
need more farmers from Lincoln
and Lawrence counties in this in
stitute and we need more of our
farmer boys in this A. 4 M. Col
lege. We need more girls in the
/. /. 4 G. Lincoln and Lawrence
have never taken up their full part
in these institutions. If there is a
boy or girl desiring to attend these
institutions, let them apply to
their county superintendent at once
for appointment. He will be glad
to assist them.
Mr.. Ivy and | will be back home
Saturday. We will keep our eyes
land ears open and maybe we can
tell you more later.
Yours respectfully,
| J. ARTHUR WHITE.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
Convict Assists in Prison Board Office

Mrs. Spickard, secretary of the
penitentiary Board of Trustees, is
assisted in her duties by j. Fl.
Whitfield. prisoner from the RAN
kin farm. 1t is stated by a Jack
son correspondent that, Whitfield
is gentlemanly locking fellow of
perhaps twenty eight years of age
and nobody ever would suspect he
is a convict. He wears striped
pants, but they have been through
the laundry so often that the
stripes have disappeared, SO that
the casual observer would take
them for pair of white duck. like
so many others are wearing in
Jackson.
1t has been arranged that the
new assistant will come and 60
every morning and afternoon on an
Alabama and Vicksburg train. He
will be just as free as anybody by
day. but he must sleep on the farm
in Rankin, which is about eight
miles from town.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
A BROOKHAVEN CITIZEN ABROAD
Il. 0. CROSBY NEGOTIA1ES

On last Monday afternoon two
gentlemen from South Mississippi,
Mr.. j. 1. Coney and Mr.. l.. O..
Crosby, requested the Secretary of
our Business Mems League to call
meeting of the business men of
Canton to discuss with them a
proposition, that if carried out.
will mean more toward the up
building of Canton and Eastern
Madison county than any other
proposition that has presented itself
to us.
The above gentlemen have about
closed deal for a large timber
tract on Pearl River and have me-
gotiated another deal in which a
standard guage railroad will be
constructed from the main line, of
the /. e. Railroad at Canton east
for about thirteen miles. This is
to be a permanent railroad and no
doubt in short time will be ex-
tended to Birmingham. Ala. as
contemplated by the I. G. railroad
in its last years survey. At pres
ent the road will be used by these
people to haul their logs from the
timber tract to Canton. where they
intend to construct large saw mill
for the cutting of their pine tim
ber. Another mill of smaller ca
pacity will also be constructed for
the cutting of hardwood. such 81
white and red oak, hickory, poplar,
and cypress. Masidon County
Herald.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
BETTER ENGLISH AND OTHER LANG
UAGES.

The fact that English is poorly
taught in our schools or that we
speak our native tongue imperfect
ly is no argument against introduc-
ing other languages in our school
curriculum. The failure to teach
Spanish will not enhance opportuni-
ty for students in English nor will
it invigorate effort in the teaching
of our Mother Tongue. In other
words the omission of the one will
not improve training in the other
and it is plain common sense fol-
our people to fit themselves every
way for dealings with our prospec.
tive neig hbors. If we were to wait
always to perfect ourselves in ore
thing before we undertake another,
there would not be the develop
ment necessary and mandatory in
this utilitarian age.
And as to the poor training re.
ceived in English in the schools, il
might be suggested that better sal.
aries would insure better equipped
teachers. In Brookhaven one Of
the most efficient and best known
English teachers in the State drew
a salary two years ago Of 500 pei
month when at first employed. later
Increased to the munificent sum Of
$50. This with board at from $2(
to $50 per month and other persona
Iexpenses at about the same rate.
We want better training in Eng,
lish. but we shall need to learr
other languages as we'll.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
Little Girl EIectrocuted.

Yazoo City. Miss, Aug. Is
Bernice Washington, seven years
old. was electrocuted almost in
stantly this morning. The little
girl was playing near her home. in
Grand avenue. and, in some way.
her body came in contact with a
guy wire. which was crossed by a
live telephone wire.
Mrs. Washington attempted
three times to pull the child from
the wire, but each time she was
knocked down by the current
Finally. the current was cut of.
but too late. for the child already
was dying. One hand was burned
to the bone.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
New Profession in the State.

Secretary Of State Power has a
letter from a citizen living near
Tylertown. Pike county. who states
that he is a graduate detective,
has just gotten his diploma, and
wants to know whether the State
requires a license before he gets
down to competition with Sherlock
Holmes and the rest of the old
sIeutbs. This is q profession that
has never been recognized in Miss
issippi-i in fact. until recently. a
detective was curiosity in Jack
son. but since Gov. Brewer began
to probe penitentiary affairs and
the legislative committee got be-
hind the Iunatic asylum grafters.
detectives constitute large and
important element Of population.
while expert accountants are 10 be
seen everywhere. I'D. Jackson
Correspondent.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
ACCOMMODATION FOR PATRONS
or BROOEHAVEA POSTOFFICE

To the Public:
As there is no arrangement for
mail to be deposited at the Post
Office for dispatch after 8 O'Clock
p. M. the closing of the Post Office
and the opening of the Post Office
at 5 O'Clock a. M, | have re-
arranged as an accommodation and
for the convenience of the patrons
of this Office and the travelling
public. the following collections to
be made from the street letter
boxes in the business district, so
that mail deposited after 8 o'clock
p. M, in the following named
street letter boxes in said district
will be dispatched as follows:
MORNING COLLECTION, 6
O'CLOCK A. M.
All mail deposited in the street
letter boxes in the business dis
trict, viz: Boswell House corner,
Merchants and Farmers bank cor
ner. Inez Hotel Corner, CONNER
cial Bank & Trust Co. corner, the
Narth and South Railroad Street
letter boxes. the G. E. Grafton
Drug Co. corner and the City Hall
corner, after $50 O'Clock p. m. !.
and before 6 O'Clock a. M, will be
collected and dispatched by this
office on |. e. Trains "a, north
bound, and l. G. Train No. /, south
bound; Mississippi Central train,
east bound 2, and Mississippi Cen
tral Train l, west bound; the
Brookhaven and Pearl River Rail-
road train 494, east bound, together
with the rural and city delivery
routes emansting from this office.
EVENING COLLECTION, $50
O'CLOCK P. M.
ALI mail deposited in the above
named street letter boxes after the
carrier has made his evening deIiv-
cry and collection trip and before
$50 O'Clock p. M, will be collect
ed and dispatched on /. G. trains 6
and 2. north bound, and |. e. train
5, south bound.
Persons desiring mail to be dis
patched on |. G. trains 6 and 2.
north bound, and /. C. train 5,
southboLnd, after $50 O'Clock p.
M, will deposit such mail in the
post office before 9 O'Clock p. m.
Respectfully,
WILLIAM p. CASSIDY,
Postmaster.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
Native Of Franklin.

The Franklin Advocate Of the
2lst, has the following concerning
Judge McCIurg's successor as Cir
cult Judge of the Fourth District:
The new incumbent. Hon.
Frank E. Everett. is native Of
franklin county. born. reared and
educated in the vicinity of Mead
vile. He began the practice of
law at this place. afterwards NOV
ing to Eunhower county. II is
stated that he will be the youngest
Circuit Judge in the State, being
only 36 years Of age. He has
numerous relatives and friends in
this county who are much pleased
70 hear Of his good fortune.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
Oldest Man.

Reuben AIexander-who was
very likely the Oldest man in Miss
issippi. died recently (Aug. III ut
bis home on what is known as the
Turner Place. seven or eight
miles west of here IN Amite county.
"Uncle Reuben" was one hundred
and one years old when he died,
and it is said documentary evidence
exists to prove his great age. He
had been twice married and was
the father of S2 children. some Of
these being now old men and
women. In addition to these, his
immediate descendants consist OF
249 grandchildren. 40 great-grand
children and 8 great-great-grand-
children. = magnolia Gazette.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
Clerks See Parade; Some One LOOts
Bank.

Hazlehurst. MISS, Aug. 27.-
While employees of the Bank of
HazIehurst we're watching the
passing of the auto tourists pa
rade, on its way from Browns S
Wells to Jackson, this afternoon.
some one entered the bank and stole
a package of currency out of the
vault amounting to $1,000.
BIoodhounds from Jackson were
sent for Immediately and were put
on the track. but up to now have
failed to strike a scent. The rob-
berry was the bQldest ever commit
ted here. The bank is protected
from loss by burglar insurance.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30
ANTl-sPlTTIRc CRUSADE.

An anti-spitting crusade should
be started in Brookhaven. Stair
ways and walls bear the imprint
of the disgusting splitting nuisance
which should be abated. Doctors
are positive that the germs of
tuberculosis are carried in the
sputum of sufferers and insist that
the splitting laws be observed.
Officers have the right, which
they should esteem privilege, to
arrest offenders in this respect.
Don't spit on the sidewalks or
floors or stairways of public build
ings It is against the law.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30

Talk about lowering Mississippi
in the sisterhood Of States and
the calamity that has befallen
her in the discovery of social cor
ruption She fell and started
calamity 'awhen her guilty Office
holders put their fingers in her pie.
She is not any lower now than she
was then. The only difference be-
tween then and now is. the perfidy
|0f those to whom her honor was
|intrusted has been found outl Pub.
llelty y the best safeguard We have:
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30

The Wcsson Booster CIub-is put
ting in some good blows. As a
result remodeled station house Is
in prospect and No. 2 now stops at
WessoD, in response 10 petitions.
The written word eortiuues to be
the most Elective argument on
ggevSd,
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30

1t is stated that IS farmers from
Kansas and Nebraska will be in
the party that goes to Bogalusa to-
morrow TO witness the ball game
bctWeen that city and NoEAeId.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30

Mrs. peary is said to have turned
autfragist. Going to the polls
seems 70 run ID the family.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30

The Agricultural High School Of
MeadviIle opens Sept, ga red
letter day" for Franklin county.
The Semi-weekly leader. (Brookhaven, Miss.) 1905-1941, 1913-08-30

The truth shall set us free. !"
but it would also put lot of peo-
pie In jail.