News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1916-02-23
|9 9ssr{5 "a En-
|Rep!y, A2GsesI
Department

Would it be possible to tell me some
thing on the Jamaica hurricane OF
1908?
On Aug. IL and II, 1908, Jamaica
was visited by one of the most de-
structive storms in tile history of the
island Port Antonio was almost COM
pletely laid waste, and Kingston was
badly damaged. Five steamers of the
United Fruit company We're driven
ashore at Port Antonio, five vessels
We're wrecked in Kingston harbor, and
scores of small schooners were lost on
the north coast. The loss Of life was
estimated at fifty and the damage to
property at about $10,O00,OOO.
Under the new banking law do the
federal reserve banks do a general
banking business? How are they or
ganized and governed?
They do not do a general banking
business. A federal reserve bank does
not do business with the public in the
sense that banks usually do. 1t might
better be described us bank of banks.
It is made Il depositaTy for certain
proportion of the reserve Of all the
member banks, in addition RAY also be
a depository for government funds
An important function is as II bank OF
issue and redemption of cur cilcy, for
it may secure from the treasury gov
eminent notes known as federal re-
serve notes. which it is authorized to
issue against commercial paper, with
minimum gold reserve of 40 per cent.
Besides thiS federal reserve banks
have certain powers in the matter of
operations IN the open market, such
as the purchase of commercial paper,
foreign exchange, ETC., and in a general
way are expected to perform impOr
tant functions as clearing houses be-
tween their member banks. Each fed
eral reserve bank has nine directors,
three of whom represent the member
banks, three represent commercial, ag-
ricultural or other Industrial pursuits
these six being chosen by the mem
Der banks and finally three govern
ment directors chosen by the federal
reserve board. These nine directors
are charged with the duty OF appoint
ing all necessary officers, including the
active manager of the bank, who is
designated as it's president or COVER
nor.
Kindly advise as to height of the
Eiffel tower, Paris.
Nine hundred and eighty-four feet.
Please tell US why the law establish
ing national banks did not permit them
to lend money on real estate.
National banks were not permitted
to lend on real estate because it is
fixed form of investment, and a COM
mercial banks loans should be for
short time and for such purposes as
will return the money to the bank in a
limited period. Nearly all banks
liabilities Gts deposits) are payable on
demand, and therefore its assets should
be as nearly SIS possible payable on de-
mand, or within a short time. Country
banks can loan ON real estate to a
limited extent under the new law.
Of what nations is it true that the
sun never sets on their domlnlonsT
Does it include the United States?
1t is not true of the United States,
our possessions, widely extended as
they are, occupying such positions that
some portion of them is always below
the horizon and therefore in darkness.
The only nations on some part of
whose possessions the sun is always
shining are Great Britain, France and
Holland. British possessions are scat
tered far and wide over both hem
ispheres, so that while the sun may
be setting on one it is rising on an
other. The French possessions consist
for the most part of numerous small
islands in the Atlantic, Indian and Pa
cific oceans, with continental terrific
ries in South America, Africa and Asia,
and accordingly are so distributed that
the sun is always above the horizon
of some of them. The foreign posses
sions of Holland are far more extern
sive than most people imagine. With
the exception of Dutch Guiana, in
South America, they consist of two
groups of islands, one on the coast of
Venezuela and the other embracing
Sumatra, Java, Celebes, portions of
Borneo and New Guinea and a host
of smaller islands scattered through
out the East Indian archipelago, eX-
tending over forty-siX degrees of longi-
tude. These, with Holland itself are
SO situated as to their difference of
longitude that the sun is always ssin-
ing on some of them. Daniel Web
ster once made use of the fact when
he referred to Great Britain as "a pow
er which has dotted the surface of the
whole globe with her possessions snd
military posts. whose morning drum
beat, following the sun and keeping
company with the hours, circles the
earth with one continuous and I'M
broken strain of the martial airs of
England"
When Texas was an independent ma
ton, where and what was its capital7
Some argue that il was Houston, others
San Antonio, while others say il was