davidaulloa/AmericanStories huggingface dataset:
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-08-23

test over several Of the nominees Of the
President for membership OF the Fed
eral reserve board. It was as we'll, per-
haps. that the hurricane OF foreign
liquidation and pressure for gold did not
break upon the banks during the period
OF transition from the old system to the
new. II was possible 10 meet the fear
OF deficiency In the currency supply and
the impairment of bank reserves under
the provision OF the AldriCh-Yreeland Law,
which was promptly amended in several
particulars 10 make the process Of relief
more complete and less costly
While Congress has authorized the IS
sue of notes under the law to the amount
of l25 per cent Of the capital and sur
plus Of national banks, which would
amount TO more than g, 900, 10000, there
is no indication that any part OF this
great sum will be used for the purpose
of expanding loans or initiating the cir
culation. The notes are being taken out
by the New York banks In order 10 en-
able them TO retain their gold and re-
store their reserves. With this object,
they pay out the new, notes to meet de-
mands for currency, while retaining the
gold in their vaults. In q sense, the new
notes merely take the place Of the eX-
ports of gold to the amount OF $3.50, 900. 900,
which have taken place during the spring
and summer.
The pressure of monetary stringency
always falls upon the banks Of New
York because New York is the center
of dealings in foreign exchanged single
trust company there deals in a larger
volume Of exchange than the entire ex-
port trade OF the United States. Hence,
upon the New York banks fell the de-
mand for gold for export, with the re-
suit OF reducing ina corresponding de-
h. ~ Ok which they
are required to hold against their deposit
liabilities These reserves, which stood
for the week Of July y at S466.5T,0 600
were reduced on August I to S+i4, $500,
and on August s to S5Ss. 900, falling on
he latter date SIS. ZIG. 900 below the legal
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-08-23

The American money market passed
through conditions on the bursting Of
the European war cloud such as have
never been paralleled in financial his
tory. There have been other great
crises in money and credit, but never be-
fore since the modern extension Of IN
dustry and the close INTERPRETATION Oh
different markets, has there come
crisis in which none Of the nations
which are financially strong was able 70
help any other, and in which the strain
of a violent crash in the market for Sc
cUrities fell with such crushing FORCE
upon the United States.
Commerce and finance were graVely
interrupted during the Napoleonic wars,
more. than q century ago; but inter
national commerce was then drop in
the bucket to what it is today, and the
international market for securities was
hardly in existence. In an ordinary
crisis. when the nations are at peace,
such as the crisis of 1907, the financial
powers of other nations are prompt TO
90 to the aid Of the market in distress
London has forwarded gold to New
York; France has discounted English
bills in order to place gold at the COM
mand of London, and even Russia has
lent gold upon French securitins to pre-
vent a crisis in the Paris market.
All these familiar features of co-opera-
the menace of universal war. England
could give America no help when her
debtors on the Continent were unable to
forward gold to meet their maturing
bills; France was helpless 10 extend aid
abroad when her own people were
boarding all the gold they could with
draw from the circulation and filling the
narrow passages Of the Rue la Vrilnere
in a long queue seeking to change the
N
precious yellow metal Germany, facing
the greatest military and financial crisis
Of her career, could not il she would,
and would not If she could, aid other
markets with a gold reserve less than
half that of the Bank of France. and
with the great powers Of Europe massing
their armies on all her frontiers.
Under such conditions, it is not sur
prising that European owners of foreign
securities began to throw them over in
order 10 strengthen their resources in
free cash and be prepared for the worst.
This silent liquidation by bankers IA
niliar with the secrets of European cab
inets had been going on for many weeks
before the current OF returning securities
became a torrent The American market,
unable TO find the capital or credit to pay
for its longtime looms in such a sum-
mary manner, s><w quotations on the
stock exchange drop by points at time
without any reason in the condition of
AmericaDr industries to Justify it. On the
eve of actual war, moreover. it became
evident that the credits Of American
bankers in Europe would be curtained
or withdrawn and that the only means of
paying for such securities as were taken
back was by the export Of gold.
Then came the interruption TO ocean
transportation. for the fear Of capture OF
ships and their cargoes on the high seas
and the seizure of vessels for govern
nent use. Rates for the insurance of gold
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-08-23

New York. Aug 22-Taking issue with
other statisticians more moderate IN
their estimates, Nikola Tesla. the famous
inventor OF electrical contrivances. SAID
TODAY the total cost OF the general war
now going on probably will not be less
than $4,000, 10000.
The present war may easily Involve
%. 81, 900 combatants. said MI Tesla
have seen an estimate OF a total cost or
So oO0. GO a dav. This is too low. The
number Of those disabled through wounds
and disease was recently placed al $1,000
This. also, is too moderate. II would De
less than ~ per cent, and it must be re-
membered that in the most recent great
war preceding this, the Balkan struggle,
the casualties were ten times greater, or
. per cent.
5000. OOO, 900 in Fortnight.
Observe that it is reported Belgium
lost $3.50 GOO.r'1 in two weeks fighting,
while there were Yet no large cities IN
the path of the Germans.
The difficulty with most statisticians
OF war losses is that they simply con-
slider the cost Of military operations This
is a small fraction of the whole waste.
TO measure the losses due TO war
merely by statistical standards is alb
surd. An example will make this clear
The strain imposed upon a country in
state OF siege is compelling Of strict
economy. The savings thus affected go
to offset the drain OF war. Theoretically
it is possible for nation. by living on
bread and water and curtailing all eN-
penses. to accumulate enough not only
to meet the cost OF military operations
but to leave a surplus besides. From
the point OF view of the statistiCian such
a war. far from being costly. would be
the very means Of creating wealth.
War Changes IndiN iduaIs.
1T is equally unreasonable to define
the waste Of international conflict as the
excess Of waste in time Of war over that
in time Of peaSe. A quantity b may
be deducted from a quantity a" and
the difference will be Alb on the sup
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-08-23

curities were on their way from Europe
running up into the tens of millions OF
dollars, which had been sold in advance
on the New York Stock Exchange. and
which had demand drafts attached to
them, to be collected upon the delivery
OF the securities. For a moment. 1t
seemed almost as II a moratorium would
be necessary in such transactions. Lead
ing banking institutions refused to buy
even small drafts on Europe or to sell
exchange at any price.
Such a situation. however. could not
long resist the ingenuity OF American
financiers nor the far-sighted policy Of
European bankers. The same house
which had come to the rescue Of the
Treasury in 1895. by the bond syndicate
contract. Messrs. J. P. Morgan & Com
pany, announced on Thursday morning.
August S, that they had made an ar
rangement with the French government
by which obligations due in Paris to
New York could be cleared against those
due in New York to Paris The French
government deposited with the Morgan
house in Paris the sum Of S. 10000. half
of which was in gold, and which was
placed to the credit of the French Am
bassador in Washington This enabled
the Ambassador to pay for supplies for
the French army. so far as they were
not tOHUdDdUu OF NdTs DN DRAWING
against the fund in Paris and thereby
enabling the Morgan house to apply an
equal amount to the payment of obliga-
tons due by Frenchmen TO Americans
at home. It vas estimated that this fund
OF $500. 600 was only a beginning. and
that II would be repIenished from time
to time at Paris by the French govern
ment as it was drawn down by drafts
in America.
Thus. blythe promptness and energy
Of the banking community and the as
sistance Of the Treasury Department. the
American market has been protected
from serious harm. safeguards have been
thrown around the gold stock Of the
country. and steps are-Saiug taken TO
reopen the channels Of communication
with our largest foreign customers.
whose need for American food products
and other articles is likely to be intensi-
fed by the waste Of their own energies
in war.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-08-23

This Is the hrSt of n series of timely
articles on the financial aspect of the
present great European international
conflict written by Charles A. COnant,
who Is, without question the best quail
flied man in America to treat this sub
ject in a popular and authoritative
manner.
The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-08-23

Negroes own 1888 farms. valued at ST.
76S. 80 in Missouri
Bisbee daily review., 1914-06-16
Leaving the District.

Attorney w. K. Flora with Mrs. Flora and children expect to leave to- day for Los Angeles, where they will remain until Mir Flora determines upon a location in California where he will engage in the practice of law. The departure of the family from War ren, where they have had their home. will be matter of much regret to many friends in the district Mr. Flora has not enjoyed good health since his critidal illness in the late winter and the removal to the coast is in the hope that bis physical condition win bene nt
Bisbee daily review., 1914-06-16
unlform Bank Work.

The new uniform rank of the K. P's. had it's first drill session on Sunday. going to Warren for the purpose. About twenty members participated. Their uniforms are not yet 10 hand. but are expected in time to allow of the participation of the body in the Fourth of July parade. A very good start was made with the drill work on Sunday and the instructors expect that they will make a very fine body .of the Bisbee organization before they .are through.
Bisbee daily review., 1914-06-16
In Bad Shane.

A well known character about town by the name of Shorty LaMonte is in exceedingly bad shape in the city Jail. La Monte was taken up last Friday by the city police. He has been on a drunk for about three weeks and the reaction has set in. He has caused the chief and the ol- ficers considerable worry during the last few days. even necessitating the appearance Of a doctor
Bisbee daily review., 1914-06-16
Case To Thrown Out

Walter Dalymple, true to the word given those who youched for him in Douglas, came to the city Sunday morning and appeared before Judge Walter Thomas, who released him on his own recognizance to appear in court yesterday. When he did SO. the charge of obtaining money fraud ulently based on S5 payment made to him by a theater manager, was dis missed 1t being shown conclusiyely by Dalymple's actions that he had been wholly honest in his part in the transaction, and that the alarm that
 came up was without good cause.
Bisbee daily review., 1914-06-16

A bilious, half-sick feeling. loss of energy, and constipated bowels can be relieved with surprising promptness by using HERBINE The first dose brings improvement a few doses puts the system in fine, vigorous condi- tion. Price 50c Sold by the Bisbee Drug Co.-Adv.
Bisbee daily review., 1914-06-16
Secured plvorees.

Attorney 8. K. Williams was a wis itor in Tombstone yesterday morning. appearing before the Superior Court and securing the granting of divorces in actions which he had brought for Mrs Phyllis Wyatt, who desired separ- ation from John E. Wyatt on grounds of non-support and for Jacob Adam. who secured divorce from Anna A. Adam on grounds of desertion.
Bisbee daily review., 1914-06-16
Supervisor Mere

Supervisor oJhn Rock was an ar rival in the city last evening, coming OCT from Tombstone in the county car with Percy Bowden and Deputy Sheriff Red Cannon MT Rock spent the night in the city on personal busi- ness and in consultation with Chair man Gus Hickey of the board Of su- Derisors with regard to county mat ters.
Bisbee daily review., 1914-06-16
cARp oF rHANKs.

We desire to thank the Warren Ladies' Aid Society, the Moose Lodge and our friends for the many kind nesses shown us during the illness and in our bereavement because of the death of our husband, son and brother, c. c. Pratt.
 MRS CHARLES PRATT,
 c. D. PRATT, 363 N. c. PERRY.
Bisbee daily review., 1914-06-16
o'Nelll Improving.

D. C. O'Neill, who came to the Cop per Queen Hospital last week from Douglas to undergo an operation. nu- merous friends throughout the county win learn with much pleasure that he is making steady improvement and will be able to leave for his home before a great while.
Bisbee daily review., 1914-06-16
New Cigar Stand

Joe Srinker, who recently returned to the Warren district from Phoenix. has opened a cigar stand in front of the White House Lowell, J has laid in a fine line of tobaccoes. cigars. cigarettes. pipes and other merchan- disc of this character He has a host of friends here and an wish him good luck in his new enterprise
Bisbee daily review., 1914-06-16
Pleased wlth Opening.

Mrs. IT, H. Boyer was a visitor In the city yesterday from Beners re- sort, of which she has the manage .ment this year Mrs. Boyer said she was greatly gratifed with the manner in which the resorts season has opened and that the dance on satur- day night was particularly successful in the pleasure it extended to the many who were at the resort.
Bisbee daily review., 1914-06-16
Press Rnrnam Rack-

Press Bunam, special officer for the Southwestern here, returned to Bisbee after spending several days in the northern end of the county Burn am visited McNeal and then went north through the Sulphur Springs val ley He reports everything as being in great shape through the section he visited
Bisbee daily review., 1914-06-16
Complaint Dismissed.

The felony complaint against A. E. Williams, for wife deseruon. was dis missed yesterday afternoon by Jus tice of the Peace M. C. High. on mo- ton of Assistant District Attorney Murry Williams was brought back yesterday from Tonopah by Sheriff Wheeler
Bisbee daily review., 1914-06-16
Bill Storey In

Bill Storey, for years a very well known blacksmith in Lowell was visitor in the district yesterday from his ranch in Sulphur Springs valley Storey says conditions are good but that a good rain or two would do won ders toward bringing the crops out
Bisbee daily review., 1914-06-16
WANTED

A girl to do light housekeeping two in family; all heavy washing sent out; board and room and $20 per month; a snap to one wishing a good
 home Turkish Bath. Schmid-shat- tuck bldg. Brewery ave (349)
Bisbee daily review., 1914-06-16
vlsltor From Globe.

Mrs. II. TT Harding and daughter the former a sister Of Frank Thomas. city interpreter is at present a vis- itor i'm the city Mrs Harding is spending her time with her brother and Mrs Thomas She will spend several days more in the city and re- turn to her home in Globe.
Bisbee daily review., 1914-06-16
Shine and Hunt East.

Dr. F. E. Shine, head of the Phelps Dodge Medical corps and Dr. c. H. Hunt a member of the corps. leave .hus morning for New York. Dr. Shine goes on business in connection with the company and Dr. Hunt will probably be operated on in one Of the New York hospitals
Bisbee daily review., 1914-06-16
seek Naturalization.

Seek Naturalization. | Louis Rosco was a visitor in Tomb stone yesterday, going over with sev- eral Slovenian friends who desired to take the necessary steps in connec- ton with their final papers of natur .alizauon which they hope 10 secure at
 the next sitting of the naturalization court
Bisbee daily review., 1914-06-16
Returns to Nacoarzl-

J. S. Williams Jr, left Sunday for Douglas, following a short visit with his parents here and on a business Of the Montezuma Copper Company. Mr. Williams went from Douglas di- rect back to Nacoarzi
Bisbee daily review., 1914-06-16
Made Young Couple Happy.

Judge Walter Thomas on Sunday morning at n officiated at the we'd ding of Miss Kate Todorica and Baska Rodoich at the home of friends in Du- bacher canyon Later the young couple went to a cottage to prepare in adance Tor their reception in Warren, where they will live.
Bisbee daily review., 1914-06-16
Visited Old Home

NlalLeu Olu nome.
 Jake Adam, for a number of years a well known tailor in the district. has returned from a several weeks visit to his old home in Texas. where he met with his brothers and sisters after a separation of eleven years. The meeting was @ very happy one and
 the visit greatly enjoyed by the Bis bee man. He Is now back and may engage in business here for himself
Bisbee daily review., 1914-06-16
New Postoffiee Inspector.

R. II. Hollingsworth. the newly as- signed Dostoffice inspector for the southern district of Arizona was a vis- itor in the district the latter part of last week and yesterday Iollings- worth succeeds E. A. Marshal, who has been transferred to the Northwest
Bisbee daily review., 1914-06-16
From Vacation Trip.

Harry Gilepsle of the Schwartz Bros. store returned to the city Sun day from a vacation trip to Tucson. Phoenix and coast points. He goes to Ramsey canyon today 10 spend a few remaining days of his vacation period
Bisbee daily review., 1914-06-16
MADAM ALEXANDER

Noted psychic and business me dium. Lowell Hotel Phone 52l Short time only. (8o2)
Bisbee daily review., 1914-06-16
Judge Brown Goes Out.

Judge M J. Brown has SO far re- covered from his recent critical ill- ness that he was able on Sunday to visit with friends in Warren. where he was the guest of honor at a dinner party returning in Che evening to the Johnson Hotel. where he is now living.
Bisbee daily review., 1914-06-16
For Summer outlnn.

Miss Ida Young and Mildred Harris left Sunday for few weeks visit with friends in Douglas, nom where hey expect to go with 8 party which vill spend the remainder Of the sum mer camping in the Cririoahuas.
Bisbee daily review., 1914-06-16
nalna over

J. N. Gains. secretary of the Co., chise county taxpayers association, was a visitor in the district yesterday The tax expert expected to return 10 Tombstone last evening
Bisbee daily review., 1914-06-16
In the Huaehueas

ln the Huachucas.
 Mrs. Tony Downs and children, Hen ry Poppin and Dr. Gonzales were among those who motored to Ramsey canyon to spend Sunday
Bisbee daily review., 1914-06-16
From Tombstone.

Mrs. A. Moffett returned 10 the city last eening from Tombstone. where she was on a visit to friends and with reference to business matters.
Bisbee daily review., 1914-06-16

If you have the itch, don't scratch
 It does not cure the trouble and makes the skin bleed. Apply BAL LARD's SNOW LINIMENT Rub 1t in gently on the affected parts. It relieves itching instantly and a few applications removes the cause thus performing a permanent cure. Price 25c. soc. and S1OO per bottle Sold by The Bisbee Drug Co.-Adv (33D
Bisbee daily review., 1914-06-16
Anneared as WLtnesa.

P. w. Lange returned last evening from Tombstone, where he was yester- day to appear before the Superior Court as a witness in an action of civil character brought from this city
Bisbee daily review., 1914-06-16
L o CAL
cuthbert Returns.

WWETTNNTI T TI71ITT TT"'
 II. J. Cuthbert returned to Bisbee yesterday after spending the week end in Douglas with his family
Bisbee daily review., 1914-06-16

. A. zander. tuner: phone 248; Howe lewelry Company. (699l
Bisbee daily review., 1914-06-16
sunervIsor Roek In CitY.

Supervisor Rock of Tombstone, was a visitor in the district yesterday com ing over from the county seat with Sheriff Wheeler in the latters ma chine.
Bisbee daily review., 1914-06-16
BIair's Away

nialI away.
 Tom Blair and wife, the former we'll known in life insurance circles throughout the county district, left last evening for the coast They ex- poet to be absent about three months
Bisbee daily review., 1914-06-16
To MI paunhter.

Mrs. J. l.. Harris left Sunday even ing for El Paso, where she will spend few weeks visiting with her daugh- ter, Mrs J. E Anderson.
Bisbee daily review., 1914-06-16
NOTICE MAsoNs

The funeral of Brother Henderson win take place at the Masonic Temple Tuesday at 1:30 D. m. All brothers please attend.
 A. M CORNELL,
 Acting w. M B. T. WATKINS,
 Secretary iaol)
Bisbee daily review., 1914-06-16
Spent the Day.

Mir. and Mrs. Joe Norcross and chil- dren and Mrs Phillips spent Sunday at Berner's resort, motoring home Sunday eening.
Bisbee daily review., 1914-06-16
WOmen's Crepe Kimonas $1

This received special
 
 Black trimmed with aces and ribbons sale readyower department Choice ..SfO
Bisbee daily review., 1914-06-16
Women's Summer Suits, Ski
 And Dresses---ExceptionaI Values

goods stock only few weeks nd of desirable of in week a of in notn attending
 to be through ever and we you will disappointment
Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1914-01-02
What Was Happening so
Years Ago

The prayer of THE lumbermen,
ditto the sawyers employed in the
steam mill, ditto those with teams
on their hands who have wood and
logs to haul-for more snow has
been answered, and all are now off
the anxious seat.
A few of our democratic friends
take exception to an item in one of
our recent issues, and assert that
none are going to give up their
principles after suffering defeat for
apout "a years, and victory almost
in their Grasp. There's many a
slip betwixt the cup and the lip"
We are glad to see our old friend
Frank Thurston once more in town.
Only sc below zero last Sunday
morning at four o'clock.
A case of spontaneous combustion
occurred in the postoffice last Mon
day morning, but fortunately was
discovered in season to prevent
mischief.
That a good and well-akept ftote'
is appreciated here is shown by the
fact that the receipts at the Ste'' art
House during the past year were
SIS, 1865 in excess of any year since the
hotel was opened to the public. We
congratulate the proprietor on this
evidence of his prosperity.
The Rev. Father Trottier has been
appointed by Bishop Goesbriand to
fill the vacancy at st. James Church,
caused by the departure of Rev. FIR.
McKenna'of Fairfield.
Horace Morse and others have
commenced cutting ice; it is of good
thickness and excellent quality.
With. this. weeks issue the HERALD
commences its twelfth volume, and
the seventh year of its publication
in5Island Pond.
We see by the Boston Journal
that the closing exercises of the
State Normal School at Salem, Mass.
takes place Jan. %, at which time,
among others of the d, graduating
class, Miss Lillian M. Buffers of this
town will read an essay.
Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1914-01-02
Germans Slot Literature.

Penny in the slot literature Is the
latest thing in Germany. A firm of
publishers at Leipzig has patented an
automatic machine which gives a
choice of a dozen small paper covered
volumes which are displayed behind
glass. On strip Of paper across
each volume is printed brief descrip-
ton of the book, and coin in the slot
does the rest. These automatic ma
chimes are to be placed in hotel lob
bles, waiting rooms, theater foyers and
other public places. The hope is ex-
pressed that as the books offered are
carefully selected and by first-cass au-
thors the venture may have q benefi.
cial educative effect upon the masses
and thus counterfeit the influence of
the cheap and trashy literature with
which the country is hooded.-Ex.
change.