davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20

One rubs ones eyes and wonders II the
days OF Grecnbackism have returned after
reading the remarkable statement given out
in Mondays papers By Mr.. Benjamin Strong
governor OF the Federal Reserve Bank OF
New York and backed up the next day by
the Liberty Loan Committee. In erect, MI
Strong proposes the raising Of an unnamed
part o. the new Liberty Loan by means OF
bank credits, and announces that the Ne"
York Federal Reserve Bank alone mas now
resource. which would permit OF loan ex-
pansion Of eight billions OF dollars
|, !, true that Mr. Strong says that while
expansion OF such volume is neither neces-
sary nor desirable. still 10 the extent thst
expansion itself take place the provisions OF
the Federal Reserve act are such as THOR
oughly safeguard the country's financial sys-
tenn"
Is this true, or even sound? One cannot
determine the size OF the threat contained IN
Mr.. Strong's statement, but " rs enough 10
say that the aggregate loans o. the Clearing
House banks OF New York are only four Dill
ions. End Of the remaining banks Of this DIS
trict perhaps not more than billion more
loan expansion therefore, OF one-haIf the
dimensions suggested by Governor Strong
would mean practically doubling banking
credits in this district. IF such policy were
carried out over the country at large IT would
mean an immediate doubling OF the effective
business currency OF the country, and there
fore an immediate doubling Of commodity
prices in general Is the country, or Mr..
Strong. or any sane hnancier ready TO face
such a policy as this; or any part OF such
policy, Has the billion of new gold which
the war has brought US not added enough TO
our troubles and carried prices high enough
already?
Credit Currency
Il is we'll known that the colossal business
exchanges Of the country are carried on to
the extent Of 90 per cent and more by means
of checks against deposits. And these De
posits are in turn created TO the extent OF W
per cent or more by means Of bank loans. IL
is the volume Of this credit currency and the
rapidity with which it passes from hand 10
hand which determines, absolutely, the gen
oral level of prices. Estimated from the
latest bank returns, the present volume OF
these checkable deposits is now in the neigh-
borhood Of thirteen billions Of dollars. This
is rise from around nine billions when the
war began. 1t is this increase, about 40 per
cent and more, Of the actual currency OF the
country, with the corresponding rapidity OF
over-turn which always accompanies rapid
currency expansion, which has doubled gen
eral prices in the last two years
II the resources of the New York district
are roughly one-third those OF the whole
country, and what is true of our reserve
bank here is true Of all the other reserve
banks, then on Governor Strong's estimate
the recent amendments to the Federal Re-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20
Financing Liberty BY Initiation
PROPOSAL TO Raise Part of Liberty Loan BY Ban Credits Called
Rcperson 10 Crccnback Fdhacr
Bu Carl Snyder
DID CUT OHyuCT
Auihor of "Americdn Rainays as Investments

, serve act have provided for an actual expan-
sion Of the currency b. a matter OF twenty
to twenty-five billions. or somewhere near
twice the present volume.
And nov comes Pres den, Wilson urg ng
all he banks OF the country 20 JOIN me
reserve syitem IN order that all the gold
may be modified under a single control All
this can have but one meaning, and that IS
further 20 increase the expansive power ot
the rcw reserve system " could nave no
other purpose. What Kind OF a price level does
President Wilson OF Governor Strong or the
ether proponents o. expansion desire II -
probable that expansion by as much az one
sixth Of that which is now regarded az pos
sible and feasible would again double the
average 90 commodity prices-as II the pres
ent cost OF living was not high enough ana
Il the injustice and suffering occasioned By
the present expansion 70 all persons Of fixed
incomes was not great enough.
No Good From Initiation
40 possible good can come from such IN
fation II cannot increase the productive
capacity OF me country. II a rise OF 100 per
cent has increased tina. capacity but slightly.
Il IS estimated. for example, that the average
Of all crops for the present year has been
only 2is per cent above the previous ton
year average Many lines Of business, as.
notably the lumber business. have fallen OF
in order 20 provide for the excessive demands
Of what may be called immediate war in
dustries
II this be C deliberate policy OF the Federal
Reserve Board and OF the Administration,
then We have the spectacle OF government
crdeavoring to fix prices and lower prices
With one hard and provide for huge cur
/ rency imitation with the other his Is ex-
actly the policy which has been ursued by
the British government, and we know with
what results Labor unrest and the feeling
Of discomfort which this bizarre situation
las occasioned are already threatening the
successful prosecution Of the war. Is this
country ready to follow in England's wake
Have we not enough unrest or labor now
II banking credits could be sharply cur
tailed with a corresponding rise in interest
rates, forcing economy in every line OF ousi-
ness, it might be possible to keep down the
level Of prices and avoid the inevitable pit
fals of wild imitation. The policy suggested
by Governor Strong means exactly the re-
verse and is tantamount to government
manufacture of greenbacks. In his own Ian
guage: Every loan made by the Federal
Reserve Bark 10 its members is, in fact,
creating new reserue money for the mem
Der banks, and in turn increases the lending
power Of the banks as whole in the ratio
Of about 100 to 49,"
have put four words in italics to show
that Governor Strong unconsciously recog-
nized that the plan he proposes is, in It's
effect. identically equivalent to the printing
of fiat money.
New York, Oct. 16, 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20

To the Editor OF The Tribune.
Sir: Mrs. de Camp suggests decapitating
The atrocious statue Of Lincoln by Barnard
The head is the best part. but resembles Lin
coin not in the least
How would it do to amputate. for no
human ever had such deformed feet?
Mr. Lincoln was a very tall man. with
rather an ungainly figure hands and
feet were certainly large. but not misshapen
Mr.. Barnard's conception of Lincoln is so
horrd that one must think that he had a
personal dislike 10 the man whom the rest
Of the world delights 70 honor.
ROBERT ". LEONARD.
Mount Kisco, n. Y, Oct. IS. 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20
Why Not Limit Candyp

To the Editor of The Tribune
Sir: Why not limit the amount o. s''.
used by the various candy factories, ln'"',
OF cutting off the supply Of the Peep" !.
large? There is much candy put on me -" -,
ket that is not TT FOR food and deprisihs =
makers OF that brand OF certain anou'' '
sugar daily would be good thing. IN
The production OF ice cream also eou'' :,
curtailed for the duration of the war .i'a''
causing much inconvenience TO the puone.
H.A. CORNELL, -
Ossining \. T., Oct IS. 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20

To the Editor Of The Tribune.
Sir: In my letter OF recent date there Wa
an namely, that the wool cost 1896
pound At Mays. Il should have been s3.7,
1t is now TO be had there a; 1916 a pound
MRS. JULIAN EDWARDS.
New York, Oct. II, 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20

Nau csn purchase merchsndiss sdveroAcd IN rhs
rEiRtNF with shsoui. sSs,yfos dsssuSaeucu r-suts
/. any 49, TFE TRIBUNE guarantees 70 psy your mcf''
a.. ,frcr request 's7- No clubbing We maNe
zoe. promptly y the sdvcr1is.r DOS not;
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20

TIE Associated Press e,ciudvey entitled 10 ne Use ioI
rro,i-sfon o. I'll news dispatches credited 70 II OF no
oher a. credited this papcr and sl,o the cn ne'' 0
sror',nsous origin published herein. -
Al rights Of republication o. all other msu~ ne'"o "
also reserved
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20
First Aid for the Barnard Lincoln

New York. Oct 10. 1917.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20

oun.d and published daily BY The Tribune A"ccan'n
-. We, Pr,.idert. Y su,es. Treasurer Address
1S.snos BUILDING IS, Nassau s,ree, New Nofh "epo0ne
Hickman 5000
sYpscRIrTTo~ RATES BY Mail Postage Fsd oo'
side % GreateT New lors
~ vuF UNITED STATES. OUTSIDE OF GsLAThS
NEW YORK
iy mo mo
DsIr ard SUNDAY ........--. Wsp ~. -. "A
pAiN only ....... .-..t..s..st ~ 20. az
SrrIav only ..........-+-..ss @ss' ~
CANADIAN RATES
Daily ard Sunds. ..,.....-.-. tloW ~. -. "a
Naih orN
SUNDAY only ...-..-.--..-. oVc ~9'
FOREIGN RATES
psf'y ard SUNDAY .....-.... t1tVo eIW |.vs "a
psir only .....t...t.. wv ~ a..
sunday only. .........- NV %" 80 "
Irf~-rd al he Posto-cs a. Ns~ York a. eennoo ''ss
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20

Entered a. he Fostorc. Ns- YORK a. eenud q"
MAI Mtf.e1.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-10-20
The Price Of Wool

Demarest, y. j., Oct. IS, 1917.
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10

Z. L. Shippee, treasurer of the Black
Cat Textiles Company and long promin-
ent in the knitting industry in Keno
sha, has announced his resignation from
the ranks of the big west side company
with the understanding that the resig-
nation is to become effective on the
first of August. In resigning Mr.. Ship
pee sewers a relation with the Chicago
Kenosha Hosiery Company and the
Black Cat Textiles Company which has
extended over a period of more than
seventeen years and during this entire
time he has held important posts in
the two organizations. For many
years he has been treasurer and Office
manager Of the company.
The resignation comes at this time
on account of the fact that Mr.. Shippee
feels that he must give his entire time
to the management of the constantly
growing business of the Kenosha Knit
ting Company Of which he is the presi-
dent and the holder of large majority
of the stock. After the first of August
he is to give his entire time to this in
dustry which has grown to be an inn
portant contribution to the industrial
life of the city in the past few, years.
Mr.. Shippee has been leader in
many lines in connection with the
knitting business and his leadership has
been acknowledged by the part he has
taken in nation wide organizations.
He is considered an authority on do
mestic and foreign credits. His wide
knowledge of credit conditions has
made his services sought by great or
CARNATIONS as an adviser. He has for
some years been one of the leading
members of the National Credit Men s
Association and he is member
of several Of the most important com
mittees of this organization.
No announcement has been made as
to who viii be named as successor for
Mr.. Shippee and this matter will be
taken up by the directors of the Black
Cat Textiles Co. at later meeting.
Undoubtedly the giving of his full
time to the Kenosha Knitting Com
pany will make it possible for Mr..
Shippee to largely increase the prestige
of this company.
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10
SEEK MADISON MAN.
Police Seek Motorcycle Rider Who Ran
Down KenoshaI and Then
Got Out of the City

Some fellow living up in Madison is
going to be arrested some time on ac-
count of the part he played in motor
cycle accident in Kenosha this morn
ing. Just after half past six O'Clock
Frank Annell. living at % North Ere
mont avenue, was struck by motor
cycle at the corner Of Market and Ridge
street. Annell was thrown to the
pavement and badly bruised. He was
taken home in the police ambulance.
All that he could tell the police was
that the motorcycle carried number
ss945." The state registration lists
show that this motorcycles is owned in
Madison. The man riding it just
sprinted right away from the injured
man and made no effort to ascertain
how seriously he had been injured.
Police officers at Madison were in
structed to arrest the man and he will
be brought back to Kenosha to answer
charges of speeding
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10
THE HEAVENS IN MAY.
Astronomical Data for May, 1917,
Furnished by the Washburn
Observatory.

> Mercury passes through inferior con-
junction May 16 and therefore will be
practically invisible throughout the
month. Venus is coming into view as
the evening star, and by the close of
the month sets about so minutes after
the sun behind the northwestern hori-
.zon. Mars is slowly emerging from the
bright light of the morning sun. At
the close of the month the planet will
rise one hour before the sun and some
what south of the point of sunrise.
Jupiter is in conjunction with the sun
May s and therefore is hardly visible
at present. BY May 81, however, it
will rise about one hour before the sun
and at nearly the same point Of the
horizon. This leaves Saturn as the on
ly conspicuous planet at present. This
planet shines in the northwestern sky
throughout the evening and sets, be-
hind the northwestern horizon, soon
after midnight at the beginning of the
month to about one hour before mid
night at its close.
The times of sunrise and sunset are
as follows:
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10
Gets Copy Of
Ne,O Fishing La,D
County Clerk Jones Takes Strenuous
Efforts to Inform Fishermen of
What They May Do.

County Clerk Jones has been bonn
barded by Kenosha fishermen who
want to fish without landing in the
county jail, to give them some facts in
regard to the new law relating to spring
fishing in Wisconsin, IN order to meet
this demand the clerk sent to the con-
servation commission for copy of the
new law which he received this morn
ing. The new law is as follows:
Section l. In addition to the open
season now provided by law, any per-
son who is a resident of this state may
catch fish, except large and small
mouth black bass and sturgeon from
any Of the waters of this state by
means Of hook and line from May j,
1917, to May 20, 1917, both inclusive,
subject to the following restrictions:
~ The quantity of fish permitted
to be so taken under the provisions of
this act shall not exceed in any one
day ten pound round, except that two
fish of any weight may be SO taken.
(2) No fish taken under the provi-
DlUllS VI illlp dCb oildll NC oLIpDCu3 GOlQ
or bartered.
(3) No fish shall be taken by any
methods, by any means or under any
conditions, or of length now pro-
hibited by law for the taking, captur-
ing or killing of fish during the open
season therefor.
az Violations of the provisions of
this section shall be punished in the
manner now provided by law for like
offenses.
Section 2. If the conservation COM
mission shall determine that the pres
ent conditions as to scarcity of and
high prices for food stuffs prevail dur
ing 1918, such commission shall by or
der direct that fish may be taken, cap
tured or killed during the month of
| May in the year 1918, subject, how
ever, to all the restrictions and excep-
tions contained in section | of this act.
Section 8. This act shall take effect
upon passage and publication.
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10
Building Operations
$228,0OO in April
Building Inspector Sets High Record
for Permits Issued During the
Month just Closed

Buildings operations in Kenosha are
picking up. This fact is shown by the
monthly report of the building inspec-
tor for the month of April which viii
go to the Common Council on Monday
evening. 1t will show that during the
month permits were issued for build
ings which are valued at $228000.
The biggest item in the list of permits
was the Elks building, where the value
is given at $4,000. There were a
total of ninetyfv building permits
and fiftytwo electric permits. There
were twenty-eight new buildings start
ed Of which tWenty-three were resi-
dences. The average cost of the resi-
dences now under construction will be
thirty-two hundred dollars. Permits
were issued for the building of seven
teen garages and the remaining permits
were for remodeling or removal of
buildings. The building department is
showing tendency to be self sustain
ing and with the busy building season
coming on it is expected that it will
have balance to turn over to the city.
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10
CHILDREN WIN PRIZES.
Y. M. G. A. Presents Lists of Young
Scholars Who Have Taken Honors
Writing Thrift Essays.

A short time ago the Young Men s
Christian Association invited the school
children of the city to enter contest
Of essay writing on the subject of
thrift and economy.
Two separate contests were insti-
tuted in the High school, one being
for the senior and junior classes and
the other for pupils of the first and
second High school years. A third con
test occurred in st. Thomas parochial
school.
The winners of the Junior and Senior
High school contest were, in the order
of their honors: Gertrude Adelt, Floyd
Nelson and James O. Brooks, with the
respective subjects, Economy in the
Kitchen,o "Thrift" and 'FThe Banker
as a Cultivator of Thrift. :"
The first and second year winners
were: Berthan Surerus, Bernice Rhode
and Philip Schnell.
The winners in st. Thomas school
are: Alice Fleming, Sylvia Steinert and
Lillian Flower, with the subjects of
"Thrift a National Necessity and Pat
riotic Duty E'Thrift" and elbow
We Can Save
The prizes were contributed by the
banks Of the city and are in the form
Of $500, $500 and $100 each, deposited
to open savings accounts in the names
of the winners.
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10
WILL ONE OF THESE NAVY HONOR
CARDS BE IN YOUR WINDOW.

That everybody may know from
which homes men have gone forth to
serve their country in the navy, and
as an inspiration to others to follow
there has just been issued from the
press of the United States Navy
Publicity Bureau, card with the
following inscriptions:
A man from this house is now
serving his country at the front
in the United States Navy.
In the upper corner of the card APP,
pears the impressive seal of the
navy, while below space for the
signature of the commanding officer.
The cards are now being mailed, first
to all of the apprentice seamen at the
naval training stations and they will
eventually reach every man in the
service. After being signed and dis.
tributed they are to be mailed home
and placed in the window of the house
as a mark of honor as well as q con.
slant reminder of duty to the young
man who still hesitates in the face
Of the country 5 call for men,
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10
RICHARDS AIDS FARMERS.
Three Carloads Of Seed Potatoes Being
Distributed to Kenosha
County Farmers.

Griffith Richards, the new Kenosha
county agricultural agent, is doing a
real service to the farmers of Kenosha
county and is now engaged in dis
tributing three carloads of seed pota-
toes. He has thoroughly aroused the
farmers and more acres of potatoes are
being planted than in any year in the
history of Kenosha county. One car
load Of the seed potatoes is being dis
tributed at Silver Lake, another at
Bristol and third from tracks in
Kenosha. The seed potatoes are being
furnished at low price, the farmers
paying the actual cost plus the freight
on them from Northern Wisconsin and
Minnesota to Kenosha. Mr.. Richards
has already done much to stimulate
intensive" farming, as suggested by
Governor Philip, in Kenosha county
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10
Col. Morgan Coming
Thursday Night
Kenosha Cavalry Troop to Have Drill
Every Night in Preparation of
Visit of big Major"
Roll of Honor
Enlisted for the Navy.
Walter Petersen.
Margin Sorrensen.

Officers Of the Kenosha cavalry troop
this. morning were notified by telegram
that Col. Morgan of the United States
army would come to Kenosha on Thurs
day evening for the final inspection of
the Kenosha cavalry troop and the next
four days are going to be busy ones
for the cavalry. Drill will be held
every night at the Guild Hall to get
the troop ready for the coming of the
"Big Major Lieutenant johnson of
Racine, is expected to complete the
work of examining troopers on Tues
day and Wednesday and the members
of the troop feel convinced that by
Thursday night every hole in the ranks
will be filed up and the troop will be
ready for final inspection.
This will demand the recruiting. of
five more men, as at present the troop is
that many short of enough for formal
organization. Recruiting officers were
busy today and it is expected that the
men will be brought in by Tuesday
night.
Assurance is given that equipment
will be forthcoming for the troop just
as soon as it is formally sworn into
service.
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10
WANT MORE LAND.

David R. Fogwell, in charge of Ke-
nosha 8 vacant lot gardening, has had
many requests for garden plots some
where near the center of the city. Mr..
Fogwell appeals to everyone who has
bit of land, centrally located which
he is willing should be turned over to
the young gardeners, to communicate
with him Immediately. He has lots
still unassigned in the Bullamore, Ra-
digan and Goldberg Subdivisions and
also in the Ropeville vicinity and
would be glad to know Of anyone who
wishes land in that locality for gar
den
The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1917-05-10

Lucien Lance and 2. G.. Simmons, III,
sailed on Saturday for France. They
are now somewhere on the Atlantic and
they are expected to land at some port
in France within the next ten days.
They will go at once to the front to
take their place with other Americans
serving in the ambulance corps. The
rame of the vessel in which the Ke-
noshans sailed has not been made pub
lie, but it is said to be one of the reg
ular French liners. The Kenosha boys
are not fearful of the submarine dan
ger as most Of the trip of the steamer
viii be out Of the reach of the German
U-boats.