davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

uatcd tax. rising to o per cent, which
is imposed on it's issuance.
An emergency note is banks prom.
Use 10 pay. with charges made for the
privilege OF circulating it. Provision
for emergency currency was made after
the panic Of 1907 because OF the conclu.
sion generally reached that the panic
owed its acute violence 10 the inability
Of the banks to meet inordinate de-
mands for cash unless they paid out
reserve money. The purpose of cmer-
gcncy currency issues is to cope with
demands for cash rather than with de-
mands for credit.
The American banking community as
whole operates under laws requiring
the maintenance of fixed percentages
Of reserves to liabilities which con.
sist of demand deposits. Unless emer.
gcncy currency can be employed as re-
serve It obviously does not increase
bank lending power directly. To the
currency In circulation and replace re-
serve money with II. thus making al
ditions To reserves. their lending power
is lncrca sell. To the extent also that
dcpositors reduce their accounts 10y
Withdrawals Of emergency currency,
thus reducing the liability against which
reserves must be kept. there Is an in.
crease of bank lending power.
In no other way does the issuance II
emergency currency bear on the price
of hank credit IF II enables the banks
to keep protective proportion Of rc.
serves To liabilities ii will tend to easier
rates for credit. but reserve conditions
are SO Indirectly affected by emergency
increases of bank note circulation that
It's reflection in lending rates can hardly
be anything but gradual.
When commercial paper Is offered 10
Il hank for discount the borrower Gus
tomarily expects to receive credit IN
the form of a deposit against which he
can draw checks He does not want
any form of cash. Even II he did take
the proceeds of the loan In emergency
currency hr would probably deposit
the currency in another bank or It
would he deposited by the persons To
whom he paid It. This deposit would
Increase the reserve liability Of the
bank in which the deposit was made.
The idea that II incrca sed facilities
for emitting paper promises to pay are
provided credit will become more read
fly available and cheaper for all bor.
rowrrs is at the bottom of all Ppulis-
tie dcluSionS about the nature 81 money.
II is also the token of that menace Of
imitation against which II il peculiarly
the business Of banking interests ia
guard at time like the present. when
economic conditions have been vastly
InruuVaI
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
Voices In the Iiills.

To THE ErIToR OF THE SuN-Sir, After
so much prominence has been given to
prophecies OF all kinds relative TO tho, dire
things awaiting Germany, "a in THE SIN
OF September II, ! wish % call your at
toUt!0u 20 q :gw passages ~ Thauml2"'a
hook, Voices In the Hills" That book.
though SO little known. deserves a place
In every humanitarian library for its
deep rooted pleas for liberty and strong
appeals for IN" labors Of peace.
An Armenian in the book has this 10
say:
The enm'y you allude to tof Christian
and Mohammedanl II all 10 the Interest
~ foreign, such as Russian and British.
promoters 81 hostiitles. Tho So
called centuries Old night for liberty hy
suh'ugatod races was ever instigated and
kndled hy the cabal OF European Jealousy
and avarice
The sumhering nations tainted in their
stupor by invading Europeans will react
In the lapse OF time Ike the cannon that
bursts aboard the ship. Aimed thong h
II be against tribes and lands II sets the
ship atiame and the British and Russian
empires. held together with constantly
renewed cement, break into a thousand
splnters. Destroyers fall victims 10 their
own forms of destruction. r. c. VI.
BROOKLYN, September "a
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
Maine and President wilson.

The Administration and the Demo
cratic majority In Congress should be
cheered and comforted greatly by the
result OF the election in the only State
voting before November. The Presi.
dent in particular IL warranted in re-
garding the Democratic victory as a
direct vote Of confidence.
Notwithstanding the return Of many
thousands Of ProgrcsSlvcs to the rcgn
lar Republican ranks the Wilson Demo.
Gratis carried the State for Governor
and reelected by greatly increased
plurality the only Maine Congressman
IT the Presidents party. The result
IN the Second district is especially sig
nihcant when the circumstances are
considered. This is the stanch old Re
publican territory represented for many
years by NELSON DrNGLEY, Jr.. and
later by CHARLES +. LITTLEFIEiD. With
the manufacturing interests OF Lewis
Ton and the shipbuilding interests Of
Bath, the Second district seemed per.
hhps the most likely place in the Union
where the protectionist reaction would
begin aud the protest would be earliest
heard against much that the sixty
third Congress has done to the tariff
and In the way of actual or proposed
legislation affecting shipbuldng. Mr.
MCGIIIICUDDY's seat was contested
this year by HAROLD VI. SEwALL. a Re
publican Of exceptional ability and
prestige. No candidate could have put
the case more effectively 10 the voters
from the point of view of these local
interests; YET, against all tn" appa rent
logic of the situation. Mr.. McGILLI-
crpDY's plurality Of l,2Sl in 1912 was
incrca scd fourfold on Monday.
These are not political developments
81 the sort that seemed probable or
even possible two months ago. There
certainly has not been during that time
a marked increase in popular enthusi.
asm over Democratic leadership or
Democratic conduct in the House Of
Representatives, Independent Of the
Presidents leadership and perform
ance. II is hard to escape the conclu'
sion--and we are going 10 express can
didly our conviction on the subject
that the strength Of the Democratic
position at the present time is pri-
marily due to the peoples admiration
Of the manner in which WOODROW Will
soS has met the emergency and carried
the heavy burden Of responsibility
forced upon him by the European war.
There Is n patriotic rca son for sustain
ing him now, and it is difficult to sus-
tain the President without helping the
party which he leads.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
MINERS AGREE TO
TRUCE IN COLORADO
Union Accepts President Will
sons Plan for Settlement
Of the Strike.
OPERATORS YET TO DECIDE
Proposal Arranges for Three
Years Peace and Arbitra-
ton Of Grievances.

WASHINGTON, Sept. 1.-THE United
Mine Workers OF America accepted to-day
President Wilson's proposal fo- a settle
ment OF the Colorado strike II now re-
mains with tho operators. including .he
Rockefeller interests. TO say whether or
not they viii accept the plan and end the
conditions which have broken down civil
government in Colorado and resulted in
mucs bloodshed
The Pres dents plan. which was forriu-
lated by a commission OF Government
employees after an extended investiga-
ton, provides for the establishing OF n three
years truce between the miners and Tho
operators, during which difficulties are
to be submitted to locally elected grew
ance mttees. over which "A commits
sion appointed by tho President is TO &C,
as n court OF appeals.
a letter from the high officers OF the
United Mine Workers informed the Presi-
dent of their accept tnce of the Govern
ment's pan subject to the approval OF
the miners OF Colorado whose representa-
tives had been called to meet for an
expression of their views at Trinidad
to-day.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
BRIGHTER PROSPECTS.
Gold shipments and the Foreign Ex-
change situation
From me Financial Chronicle.

From the Financial Chronicis
With the easier situation prevailing IN
their own market London bankers are not
calling 80 loudly for tho payment of
American balances by the shipment Of
gold. Prospects, in fact. are much brighter
for the settlement OF the foreign ex-
change situation between London and
New York by the ordinary method Of cx-
change OF bankers credits based on the
present and prospective movement Of bal
anccs than by any arbitrary expectation
or gold. In this We are not losing sight
of the proposal by American bankers 20
accumulate large gold fund, to be avail
able for shipment to ottawa on account
OF the Bank of England. 1t will probably
he found that London bankers, knowing
that they can obtain the gold, will in
View of the very decided relief and
abundance OF funds In their own markets,
not desire to force unnecessary shipments
OF the precious metal from our shores
Great Britain needs not 40 much our gold
as our food supplies; and It is the pre-
rogative OF banking TO see that American
exports shall be OF such articles as are
needed abroad and not those that are not
needed. The completion OF the arrange
ments for a loan OF 100000, 900 20 New
York city by American banks and bank
ers 10 enable the city TO pay upward Of
sS0,OO0.000 In finance bills maturing in
London between September II and the
end OF the year has been further favor
able Influence Of the increasing ease In
the London situation.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
The Menace of the Russian Adj
vance in Galicia.

The disasters suffered by the Aus
trinn armies In Gallcia have a bearing
upon the German war plan that has
not been sufficiently recognized. GEN
eral SUKHoMLISoFr, the Russian Min
lister of War who says, no doubt with
inspiration. that the task assigned TO
Russia by her allies is the capture of
Berlin, estimates the casualties of the
Austrlans N 100000 in killed, wounded
and prisoners. and declares that they
have lost "a great part of their ar
tIllery." The way to Breslau may not
be open, but the Austrian army Is In
such crippled condition that 1t cannot
long delay the advance OF the multi
tudinous Russians toward the German
frontier.
Austria has proved broken reed to
Germany. Germans must save the
Tatherlnnd IL 1t is 10 be saved. Ger
man genius and patriotism must rcpel
the movement To capture Berlin. which
the Russians will undertake with their
enormous resources as soon as the
Austrans are disposed of. 1t Is not
the purpose OF the Russian Government
TO suhiugate Austria. According 10
General SUKHoMrINoFF, there will be
no invasion of Hungary, Beyond adj
minlstering territory already taken
the Russians will give no more atten-
ton to the military situation In Galtcia
than Is necessary. Leaving covering
forces, the order "On to Berlin will
be given. and Breslau once gained the
way would not be long, Berlin being less
thnn two hundred miles from the chief
city of German Silesla. "The entire
strength of the Russian army will be
used" says the Cars Minister of War
in the statement he has just made NJ
Petrograd; this means every man avail
able. and the total will obviously he
greater than that of thc combined forces
which Germany launched against Paris
that Is to say, more than million OF
electives.
That the Russian peril on the EASTERN
| frontier was recognized by the German
General staff as soon aS the news
came Of the great victory at Lemberg
may he taken for granted. The STRAIT
egy of the European conflict Is on a
tremendous scale. II may almost he
said that the German battle front in
the las, days of August extended from
the Marine TO the Vistula and the Oder,
The collapse Of Austrian resistance to
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

the Russian hosts In Gallcia would be
France to modify their campaign to
capture Paris, as the success OF II was
still in doubt. Speculation has been
busy with the sudden swcrving of the
German right pressing on toward the
eastern Notifications, AMI the move
ments of the centre and left were for
some days conjccturablc. That the
whole German line bent round from
Nerdun to Mcaux was In full retreat,
defended as II fell back by the cavalry
and the fire of artillery, which con
stantly changed ground. was at lust
apparent, despite official equiveation
at Berlin. The retreat was sometimes
spoken OF as n rout, but II was prob
ably no more rout than was the re-
tirement of the allies under the fierce
assaults OF the Germans from the Bel
gian frontier almost TO the gates Of
Paris. II Is not unlikely that the gen.
somewhat Of a surprise even to General
JoFrRE. lie could hardly have expected
a development that looked so much
like the breaking down of the German
war machine. Later dispatches indl-
cate that as the Germans fall back
they are making stout resistance to
the advance Of the allies. in fact are
by no means n demoralizcd army.
A rational Judgment upon the sudden
retreat is that the plan of capturing
Paris was abandoned, not because the
Germans found themselves outnum
'bered owing to reenforcements of the
cnemy's line. but deinitlvcly because
persistence in the offensive campag Ign
might he fatal To- Germany elsewhere.
Ilighly desired as the possession ~
Paris was. Involving. as II would. the
defeat of France on her own territory,
the security of Berlin was of greater
concern. and Berlin was menaced by
the Russian Victories in Gallcia 1t
must he considered that the Germans
defending n strongly fortified western
frontier should be able to hold the
allied forces in check with half the
numbers that poured across the Bel
gian and French frontiers To- make u
dash" on Paris, thus relieving several
army corps In reinforce the defensive
line operating in Eastern Prussia. Po-
sen and Silcsa. Such seems 10 he the
strategical plan 10 which the German
General Staff has been reduced.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
Catholic High schools.

To THE EDITOR or THE SCN-Sir, /,
would he an injustice 20 the cause OF
Catholic education In the United states
to allow to pass unchallenged the news
article IN yesterdays SIN First Free
Catholic High School VIII open To-day
II IL true that the claim Is modified by
the remark with the exception OF one IN
Philadelphia" "Ncw York's first free
Catholic high school" but even this state
ment does not save the situation from err
ror There Is At least one free Catholic
high school IN New York city for girls
and there are free Catholic high schools
IN Albany and Troy. As for the rest OF
the country. there are free Catholic high
schools plenty. Without searching sta
tistics or directories. | myself have visited
free Catholic high schools In Elizabeth
port and Trenton, " J., in Poston and
Newton, Mass. ; in Cincinnati and Chicago
and I am not a professional Catholic high
school visitor. n. l.. :.
MuRRisTowN, y J., September "a.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

Much of the objection which has
been made in Congress and outside of
1t to The proposal of nm emergency tax
OH railroad frelghts for the benefit of
the Government Is beside the point
The line Of argument commonly
adopted would. If 1t were valid, be an
argument against an increase In rail
road freight charges for the benefit OF
the railroads.
The real objection to the freight tax
proposal is that the railroads and not
the Government should get the revenue
ohtanable from increased charges for
transportation service.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

Since our neighbor the WOrld has
taken occasion to refer 10 THE Sun in
connection with the persistent iteration
of It's query, "What Is emergency cur
rency fOrt' we shall endcHVor. 10 an
swer its question in such a way as 10
show why the present rates for bank
credit are not more closely in line with
the tax which banks must pay on
emergency currency issues
The disparity is owing primarily to
the fact that there IL but very ndi,
rect relation between emergency ciri-
laton and the lending power of the
banks Emergency currency, 10 which
resort has been had, consists Of bank
notes differing from the ordinary bank
notes only IN respect TO the collateral
by which 1t Is secured and In the grad
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

To THE EDITOR OF THE SUN-Str: Could
not the Stock Exchange be opened at
once with safety and with profit to all CON
Cerned II 1t could be opened with some
temporary restriction against any short
selling whatsoever, If IN fact such re-
strctlon could be enforced? Seemingly
there would then be a market place for
legitimate buying and selling OF stocks
Under such conditions certainly Euro
pean offerings OF American stocks would
not have to be purchased unless there
were buyers willing 20 take the stocks a;
prices offered; and We should not be
obliged to take any moro stocks from Eu
rope than We choose 10 take. INQUIRER
PAssAIC y. j.. September -.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
Nr. NaeterIinck's Article.

To THE EDITOR or THE SUN--Sir, Mae
tcrinck. the great Belgian idealst. In the
article which THE SrN printed yesterday
entitled eve Must BE pitilcss" advo-
Gates the annihiaton OF innocents and
thirsts for blood ~ n time when his com
patriots arc arriving in this land soliciting
financial aid and sympathy for stricken
Belgium His words will prove great
disappointment to many of his admirers
and cannot be expected to aid the cause
for which apparently he wrote his NJ
timed lines III. l.. II.
NEW YORK, September IL,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
Pleasing 20 Wilson.

The action OF the operatives organize
ton was especially pleasing to the
President. inasmuch as Il places the bur
den of "a rejection of the peace proposal
and the continuance of the conditions
which nocesstatc the presence OF Federal
troops in the Colorado strike district upon
the shoulders of the Rockefellers and
other Minis owners Friends OF the
President believe that public opinion.
which will be now directed in favor of
the acceptance by the operators. will be
suflc ent to end the strike.
The letter fthe mine workers or
ganization. which was signed by Presi-
dent John =. White Nice-Prcsident Frank
]. Hayes and Secretary Treasurer william
Green. follows:
with feelings OF personal esteem we
reply to your favor OF september 3.
I'VE have weighed well and thought
fully both the sentiments expressed in
your personal lette- and the proposed ten
tative basis for the adjustment OF the
coal mining strike in Colorado. the ac-
ceptance OF which you urge with very
deep oarnestness.
1--WE are profoundly impressed with
what you say and fully conscious OF the
fact that in submitting this basis OF set
tlemeNt you are actuated only by feelings
of public concern and inspired by motives
both lofty and patriotic.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
Want Industrial Peace.

THE organization which we have the
honor to represent stands for industrial
peace. We favor the establishment Of
right relations between employers and
employees 70 tho end that strikes may be
rendered unnecessary. Having proper re-
gard for these aims we sought In the be-
ginning TO avoid an industrial conflict in
Colorado.
I'VE repeatedly asked for meeting
with the mine owners with the object In
view ~ entering into contractual rela-
Il ns with them SO that peace might pre-
vail Had this been done We are confident
that the awful Industrial struggle which
has been going on IN Colorado could have
been avoided instead ~ bloodshed, bit
terncss. Industrial strife and economic
waste there could have been established
throughout tho coal fields peace. pros
perity and harmonious cooperation.
1T is our judgment that employers and
employees through their CHOSEN repre-
seutatives ought to meet and settle their
differences by mutual agreement A
direct working agreement entered into in
"A friendly spirit makes for abiding. per-
manent Industrial peace This, we believe,
ought TO be done by the miners and oper-
ators Of Colorado However we are mind
ful Of the suffering and waste which this
strike has thus far imposed and the add
tloual sacrifice which will be made II IL
continues.
Feeling keenly, therefore, our RESPONSE
blltcs, as the representatives OF our or
ganization. We accept your proposed basis
Of settlement of the Colorado strike. sub
Ject of course to the approval OF the
miners Of Colorado. 4 convention OF the
representatives OF tho miners OF Colorado
will he held at Trinidad. col, Tuesday,
September -. at which time action will
be taken thereon.
I'VE sincerely appreciate the personal
concern which You have manifested In
the Colorado strike. Speaking az you
DO In the name of all the people Of our
great nation. we feel It our duty 10
respond to you earnest wish.
I'VE do So therefore, as we trust In the
true spirit Of American citizenship"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

our esteemed West Virginia con-
temporary the Charleston Gdsftte
proudly, II with n regrettably spirituous
metaphor, proClaims:
This newspaper breaches tho political
gospel of THOMAS JEFFERSON, WOODROW
WILSON and WILLIAM JENNINGS BRYAN
pure and unadulterated, straight and bot
tied In bond"
\ most eccentric blend. Mr. RRYAN's
political gospel. for example, is as much
like JrFFERsoNs as CYCLONE DAVIS Is
like GEORGE WAsHINGToN.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

To the dwellers in Harlem it may
seem rather surprising that the New
YORK Boat owners Association, at the
request OF Police Commissioner Woops.
has called upon the tugboat lines not
To blow whistles in the Narrows between
midnight and 9 \. VI. unless absolutely
necessary, hut the fact Is that the din
made by tugs in signalling to men
on lows at the end of long hawsers
Is SO terrible that it murders sleep both
on the staten Island and BAY Ridge
shores. 1t would not be endured for
more than one night by the Nanhat-
tanese living along the two rivers.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

From he san Francisco CdN
Exposition employees are preparing to re-
move tho family Of polecats which has
taken possession Of the Palace Of Food
Products on the Panama Paclhc Exposition
grounds The polecats first tackled the
Palace Of Education. and then vacated that
for more favorable location in the Food
Products pavilion.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

The forces Of the Hon. RoREpT
MARION Ia TOILETTE. who has been
righteousness in Wisconsin for fourteen
years at great expense tn the taxpayers
are naturally surprised and panied pro-
foundly by the rout OF his candidates
in the primaries. Can the direct pri-
mary work to the discontinue Of the
very men who introduced It and swore
by It so long as the good won In ~
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16
IN to Date Red Men.

From ne MhcaUkee sentinel
Seven automobile loads ~ Menominee In
dams Will start next Monday on an advcr-
Using trip for their fair that is 10 be held
In Keshena. The Indians are to be dressed
in native costume and will be accompanied
by their band. The annual fair Is one NJ
the most interesting sights in northern Wis
cousin.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

Consul JoHN u. SUtIMAS reported from
Mexico city to-day that the Constitution
alists have taken possession OF the Ma
tloual Railways OF Mexico and renamed
them the Constitutioualst Railways OF
Mexico Washington despatch.
As a great deal of British and some
German capital Is invested in Mexican
railways. 1t may be inferred that the
.Constitutionalists are taking ADVANTAGE
OF the opportunity given them by the
conditions of the great war in Europe.
II seems that they have not only seized
the roads but expelled all the alien
employees. This looks so much like
contiscation that further inquiry by the
Washington Government il in order.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-16

Our greatest blessing to-day next -
religion. is prohibition The Hon Bon
GLENN, former Governor Of North Carolina.
Wonder why Bon doesn't go over to
Islam and get his religion and prohihi-
ton in the same package, so to speak.