davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

il. Nor is 1t liable 10 tne douso vi
initiation as long as the banking
credit which is circulated by means
of the check is bottomed upon genu-
ine-that is to say, productive
operations in industry and trade, re-
shifting in an increased supply OF
goods.
How Initiation
Is Produced
Initiation takes place whenever the
supply of the purchasing media is
increased more rapidly than is the
supply of goods produced and to be
exchanged. Prices then rise. Their
rise is inevitable under the opera
ton of the general law of demand
and supply, to which the value OF
money is no exception, but rather
the most exact case. The power to
purchase and pay is the power to
bid, and when the supply of the
means of purchase and payment
no matter what their forms,
whether gold certificates, banknotes,
Federal Reserve notes or bank de-
posit-credits circulated by means OF
ohecks-outruns the increase in the
supply of goods available for puff
chase there will be increased bid
ding for the goods, with the in
evitable resultant of increased
prices. The evidence and the meas
ure of a state of initiation proceed
ing from initiation Of money cur
rency, or credit, is the rise OF
prices. When, therefore, banking
credits are opened for any other
purpose than to facilitate transac-
tions which result in an increase in
the production and supply Of goods
banking credit is being used to lay
the foundation of initiation.
We have had a marked advance
of retail prices in this country since
the beginning of the European war.
The rise is estimated at 45 per
cent. We have also had in the same
time an increase in the supply OF
the country's purchasing media,
consisting of money, currency and,
most of all, banking credits, of some
$500 100000, or 40 per cent. An
examination Of the resources of the
banks of the country, so far as that
is possible, indicates, moreover, that
a very considerable volume (45 per
cent? Of the banking credits created
since the beginning Of the European
war, in 1914, is offset by securities
of an investment, not commercial,
character-consisting largely OF
government obligations. That is to
say, a large part of the new bank
ing credit which has been created in
the last two and half years has
/ not been used to finance the in
creased production Of goods, but to
finance the transfer Of ownership
and use of a part of the existing
production to the hands of borrow
ing governments. The conclusion is
irresistible that initiation has been
in progress to a marked degree in
this country during the last two
years and a half, and that the
steady forward march of prices
which has cramped and pinched the
average consumer has been caused,
for the most part, by the rapid ex-
pansion Of banking credit and cur
rency without a commensurate ex-
pansion of productive industry.
3 tt
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
Task Too Big for
Banks Alone

As yet the general plan of finance
for conducting the war has not been
determined. There is still much dis
cussion in and out of Congress as
to the relative parts of the burden
Of war outlay to be assumed by
taxation and by loans, and the more
discussion proceeds the more appar-
ont it is also becoming that no plan
for modifying the financial re-
sources Of the nation on the scale
of magnitude in contemplation will
be adequate which is not buttressed
at every critical point by an eff
fective mobilization of the coun-
try's economic resources.
Banks can, perhaps, safely under
take the financing of wars Of or
binary financial magnitude, but a
war calling for expenditures and
advances estimated, as they are by
the Secretary of the Treasury, at
$40, 600, 100000 for the first year
clearly calls for more fundamental
financial provision than can be pro-
vided by the banks Of this or any
other country. Indeed, rich and
powerful both in a financial and an
economic sense as the United States
is, it cannot but awaken earnest So
licitude how we should best proceed
in undertaking to finance a war that
is TO cost $4,000 100000 a year.
The wealth Of the United States
was estimated before the war at
about $4,000, 600, 900. 1t is now es-
timated as high as 1925, 200, 000, 900,
and some even venture TO place 1t
as high as s250,0O0, 100000. If we
take the last named figure, it is
three times the estimated wealth OF
Great Britain or Germany, and the
inference has been hastily drawn by
some that we, therefore, as a people
possess three times the contributive
capacity Of Great Britain or Ger
many, which have been the heaviest
spcnders among the European bel
ligerents. Such comparisons, how
ever, are apt TO be mislssding, 1t Ia
not 10 much the sssssssd wealth Of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22
System Well Reflects
Nations Financial Policies

How much the Federal Reserve
System can be the maker of its own
destiny during the period of the war
is at best uncertain. The Federal
Reserve banks are, after all, but one
part-however important a part-of
our national machinery of finance,
and that machinery will work to poor
purpose if any important part OF 1t
does not mesh in with other essential
parts. The making of a national
financial policy for the conduct of the
war is not in the hands of the Fed
eral Reserve system. The system oc-
cupies, it is true, by reason Of its
control of money rates, position of
strategic strength in the general
credit affairs of the country. But the
extent to which the Federal Reserve
System will feel justified in using its
powers of control to affect the direc-
ton or alter the course. of the ma
TONS financial policy will almost OF
necessity depend upon the extent to
which its advice is sought in the
shaping of our national financial
policies and the degree of support
accorded its judgment and action by
the country at large. 1t may we'll be
that our experience in this respect
will repeat that of the leading Eu-
ropean belligerents, and that the
banking policy of the Federal Re-
serve system, like that of the Eng
lish, French and German banking
systems, will be what the general
financial policy of the government
| and nation makes 1t. II our general
policy of finance is courageous,
sound and strong our banking
policy can be sound and strong. But
if our general financial policies are
weak or vacillating our general
banking policy, and that of the Fed
eral Reserve system in particular,
is likely of necessity to be weak.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

Thrift Must Be Pracsed on Broad Scale Order That Excess
Income Of the People, When Diverted to Public Ue Will Be
Sufficient to Enable the Government to Pay Its Way as 1t
Coes-To Avoid Initiation Consequence Of Great Bond
Issues the Expenditures Of the Community Must Decrease in
Direct Ratio to the Increase in National Spending Power
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-22

by effective reserve requirements
are of course a highly desirable SUD-
stitute for currency in a COM
munity which is habituated TO MOD
ern banking practices. The su-
perior convenience Of the check as
against the banknote as form OF
remittance and payment is alto
gether obvious and explains the
well established preference OF the
American business community 1or
it. Nor is it liable 10 the abuse OF
imitation as long as the banking
credit which is circulated by means
of the check is bottomed upon genu-
ine-that is to say, productive
operations in industry and trade, re-
sulting in an increased supply OF
goods.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
Obituary


The death Of john Prince, aged 30,
occurred at G:2o last night at his
home. 1924 Forty-fourth street. fol-
lowing an illness OF three years with
IUug trouble
Mr. Prince was born I'M Warsaw.
Ul. April -. 1SS2 When he was rs
years of age he moved to Rock Is
IauE and had made his home here
since. He was united in marriage tip
Miss Alice Munday ol Hampton, June
Il, 1871. Besides his wife he is sur
viyed by his parents 4Ir. and Mrs,
Albert Prince. OF this city, two broth
ers. Julius. Rock Island, and Albert.
Moline, and one sister. Miss Leah
Prince Rock Island
Funeral services VIII be conducted
tomorrow afternoon at s o'clock at
the home. Rev W. G. Oglevee otHciat-
ing. The remains VIII be taken to
Warsaw for burial
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
YOUTH UNDER DRAF 7
AGE IS DISCHARGED
BY DISTRICT BOARD

Because he is not yet Of age. Louis
". Fues. Jr, 72S Third street, serial
number $3.50. has been exempted from
military service, according to word
Which the Rock Island board has re-
cefved from the district body at Pc
oria. He voluntarily registered, took
the physical examination, and was
certified for draft duty His parents
then interviewed, claiming the lad had
not reached MS majority. The district
board allowed the appeal
William Christian kIiest, whose adj
dress is rural route No. s, out of Mus
catine, serial number 3679, has been
granted temporary exemption until
Dec Is. because he is a farmer
The appeal Of Richard F.. bort, 401A
Seventh avenue, serial number 1853,
was acted on and he was permanently
allowed exemption. The board sus-
tanned the decision Of the local board
in holding Louis Edelsten, 1902 Sew
enth avenue. serial number 2225, and
Elmer V Marston, Reynolds, serial
number 353, for military service.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
FIND OPEN VERDICT
IN DEATH j. LA PAE

Ar open verdict that he came to
his death through Injuries received in
railway accident. was returned by
t1a coroner's jury in the ease Of Jack
G.. Ia Paa at the inquest conducted
last night at 1880 at Wbeeian' S under
taking pariors hy Coroner John NiI-
Ie~ Eembe ~ the train crew and
tHo women who saw the fatal acci-
dent on the Burlington tracks at the
foot OF Forty-tbird street Friday even
ing testified
Funeral services will he conducted
tomorrow afternoon at O'Clock al
the home Of Mir La Pae's mother
---e Bowditch street. Davenport Rev.
Narmaduke Hare officiating Inter
mout wilt he in Paramount cemetery,
Davenport.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
The famous travelling stones Of Aus

The famous travelling stones of Aus
traIia are rivaled by round stones,
from the size of q pea to six inches in
diameter. found in Nevada When dis
1ributed about upon the floor, table or
other level surface. within two or
three feet of each other. they immed-
lately begin travelling toward a COM
mon center. and three lie huddled like
a lot of eggs in a nest, 4 single stone.
removed TO q distance of three and q
half feet, on being released. at once
started of with wonderful and some
what comicaI CELEBRITY to Join its fol-
lowers: taken away four or five feet if
remains motionless The cause of
these stones rolling together IS doubt
less to be found in the material Of
which they are composed. which ap-
pears to be loadstoue or magnetic iron
ore.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
from which they come.
ROBBERS Get BIG
HAUL IN CHICAGO
Two Men Tie Jeweler Down Behind
Counter and Carefully Select $780,
coo Worth Of Gems.

Chicago. Sept. 15.-Robbers fed
with $4,000 worth Of diamonds from
the shop of Frank L. Plon, sos Hey
worth building at s O'Clock last even
ing. after eztinsuishing the lights and
binding Plon. who was thrown behind
a counter
Two men entered the jewelry shop
while PloB was engaged in CONVERSE
ton with Z. j. Mo}yneaux Of 853 North
Ayers avenue. One of the men was
about 35 years old, wore gray cloth
ing. and was nearly six feet tall. The
other was smaller man in dark
clothing. They waited until Molly
neauX left.
The short man produced q revolver
and the tall man eZtinguished the
lights A length OF rope was forth
coming and PIon was forced to lie
down while the thieves tied him Sc
curely and gagged him. On the c0un-
ter lay q small leather pouch contain
ing 500 unset stones of various sizes.
This was taken.
The robbers then casually opened
the safe and made q careful selection
of diamonds. rings and pins until their
examination seemed complete.
Morris LIpk1u OF 1881 South Call
fornia avenue, connected with the
Plou establishment, came through the
outer corridor at this time and saw
the room in darkness. AS he started
to enter he was brushed aside by the
robbers. who fed down the stairs.
Lipkin made a hasty examination
and found Plon bound He then tele-
ph0ned for help. In the meantime
John Wyuley. an elevator operator,
saw the two men racing down the
stairs. One of them was shouting,
"I'U catch hims he robbed me" as
if to give the impression that he had
been robbed
In the lobby Of the building p, c.
Podesta. connected with d nearby shoe
firm. saw one CT the robbers emerging
from the building with a revolver in
his hand Then one of the robbers
ran to the north entrance Of the ele-
waited station and the other to the
south They were lost in the home
going crowds on the elevated.
Pl0n was taken TO the detective bu-
reau by Chief Mooney and questioned
Good descriptions were given of the
robbers and PIon declared his loss
would run between $4,000 and $780,
600
pFEFSTE RIM 8TFN
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
DEFENDERS OF FAIR
SEX HANDED FINES

Clifford Anderson and John and
Howard Lagrange. brothers. were ar
rested at $50 last night by officer
Berry while chasing the cook from
Bakers cafe. 2202 Third avenue. up
wenty-second street The Young men
claim the cook was threatening
woman patron of the place and that
they were merely protecting her. Any
way. they were charged with being
disorderly and each was fined SIS and
costs in police court
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
0ne 0f West's Ahlest.
HANDY CANnLESTICKs

An ingenious method Of using a
candlestick in the cellar, instead Of
the untidy method OF sticking the
burning candle 10 shelf or ledge by
melted wax, is to screw the candle
into a heavy burr. Such an impro-
vtsed candiestick prevents upsetting.
and the candle can burn down and
out without danger OF fire.-American
Boy.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
HOPELESS CASE.

why don't YOU vary your utter
ances occasionally by saying some
thing optimtstic?"
What's the use?" asked the gloomy
citizen The last time / tried to be
cheerful the neighbors looked at me
a S If they thought I was going crazy.
I'd rather be considered sane and
keep my crouch. Birmingham Age
Herald
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15

Say, if you're running to FISH your
little boy out o. this mill pond you're
TOO Iatet'
oh, good heavens"
Yep; he crawled out hisself "-Har-
per's Magazine,
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
snrIAI RIYALRIES

What's the crouch
General jealousy" replied The hos
tess disconsolately. 1.-THE young men
are sulkng. Each of them started in
to be recognized exclusively as the life
Of the party. Washington star
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
HIS -L.ECTrRE NOTES.

HIS LECTURE NOTES.
Rupert-What did you do with the
cuffs ! left on the table last night2 Ro-
Iaud-They were so sOiled sent them
To the laundry Rupert-Ye gods the
entire history Of England was on them
Cornell Widow.
The servants Of rich Chinese re
cetve no salary. but are paid in per
quisites.
All the news all the tine--The Argus.
Argus
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
PATTERSON MADE
CHIEF IN FREIGHT
Former Resident OF City rs Promoted
TO General Agency of the
Rock Island Lines.
IS SUCCESSOR OF H. A. SNYDER
Had Served rs OficiaI OF Peoria Read
Here Until lis Absorption by
Larger Company.

Many local people VIII be pleased
with the further recognition that has
come TO NJ. A. Patterson. a former res-
ldent Of this city, who has just been
advanced to the post of general
freight agent of the Rock Island lines
with headquarters at Chicago, sue
ceeding II. a. Snyder. whose retire
ment was necessitated because Of fail
ing health. Mr.. Patterson has been
located in Chicago 10 years as assist
ant general freight agent Of the Rock
Island
Mr. Patterson was serving here as
general freight agent Of the. Rock Is
land Z Peoria road when that line
was absorbed by the Rock Island.
When the Peoria became part of the
Rock Island system he was trans
ferred to Davenport as assistant gen.
eral freight agent for the Rock Is
land subsequently having been moved
to Kansas City in the same capacity,
and later to Chicago
One of Vests AbIest.
He has long been regarded as one
OF the ablest freight men in the mid
die west The new general freight
agent of the Rock Island IS the faith
err Of Frank L. Patterson of this city.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
THE YES GET AWAY
WITH TWO GARMENTS

A stranger Of whom the police have
q good description yesterday after
noon entered the clothing store Of Mos
enfelder & Sons, 1871 Second avenue.
and stole d raiucoat. The garment
was not missed until the stranger had
departed.
f. z. kirkman cashier at the John
son restaurant opposite the Thirty
first street station, reported TO the po-
lice this morning that someone mad
walked off with his new brown sack
coat, containing an EIks' pin.
Thomas Brennan, "a foater, was
handed d 40-day sentence in the couu-
gy jail this morning ON a vagrancy
charge.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
Picture Taken.

Flash light pictures closed the per-
Torrance and then the sophs with ear
splitting yells, flung wide the doors
and marched out between rows of sill
eut freshmen. For some reason or
other. the latter were not inclined to
interfere. After seeing that the young
ladies all reached home without mis-
hap the entire sophomore contingent
marched en- masse to the dormitO-E
but not "a freshman was in sight.
Everything was stiII and The sophs far
outnumbered numerically and tired
with the adventures of the night de-
cided to let it remain SO. Further
proceedings can not be vouched for but
friendly feelings do NOT yet prevail
and it is expected that the last cpl
sode has not been enacted.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15
FRESHIES Get so
CAY; SOPHS SORE
Grcenbacks Attack Only Second Year
GirIs Before Annual Upper
Class Party.
AUGUsTANA RINGS WITH WELLS
Nineteen-Tweuty Men Can Only 0nash
Their Teeth and Make Lots OF
Noise About It,

The spirit of war now peTmeatlng
the atmosphere everywhere, last even
ing hUed the hearts of Augustaua' S
youthful freshmen and resulted in the
first freshmau-sOphOmOr activities OF
the year
Unfortunately. however. the fresh
men did not appear enthraIled with the
idea of doing their lighting when the
male portion Of the sophomore class
was around and taking q little tip
from Mr.. HoheIzoi}eru. attacked q cit
adeI occupied only with members OF
the gentIer sex. thrustiag them aside
and making way with the main part of
the provisions planned for the soph-
omore class party in the old gymnas-
ium.
Soph stunts only took on an added
teeth in rage and raid the surround
ing country Immediately for further
provisions when they arrived upon the
scene of action But i'm this they were
updistuTbed by the sly greenbacAs and
q fun attendance was present when
the roll was called in the old gym
Stph stunts only took on an added
impetus from the depredauons of the
freshmen and the presence of d large
band Of the youngsters just outside.
Noise was plentiful on the outside but
the din within was q hundred1Cld, as
four veil leaders were manufacturing
enthusiasm at the rate of d she'll a sec
ond from the sophomore bunch.
The feed came OF as per schedule
and at its close. the chairman raped
for order and called for speeches from
every member of the class. These were
given most enthusiastically and were
heartily cheered. The next feature on
the program was an indoor track
meet and here the paudemonium be
came intense This finally came to an
end, however, and other games took It's
place.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15

REGISTERED MEN
Read f. B. GoIdsmith's al on
Page >.
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1917-09-15

AIthe news all the tme-The Argus.
The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1917-01-11
BIG GATHERING
On FOR ATLANTA
THE NATIONAL ASSOCIATION OF
BUILDERS EXCHANGE MEETS
THERE TOMORROW.

ATLANTA, Jan. 10.-Not only ev-
cry city in the south but also most
of the large cities of the north and
east will be represented at the an
nual convention OF the National AS
sociation of Builders Exchange to be
held in Atlanta for four days begin
ming February IL.
1t will be the first time the south
has had an annual convention of this
big body, and it will be in many ways
the most important bushes gathering
of the year, bringing together the
men who are in the forefront OF the
building industry in America, includ-
ing architects, contractors and ma
terial dealers.
Many speakers of national promi-
hence will address the convention,
among them being John Lawrence
Moran, Of st. Louis, president OF the
American Institute of Architects; II.
L. Lewman of Louisville, former
president of the association; Eugen
Pitou of the National Safety Council
in Washington, and William B. King
of Washington.
Several hundred wives and daught-
ers Of the members Of the association
will attend, and an elaborate social
progrm has been arranged for their
entertainment
The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1917-01-11
Splendid for
Bad Coughs, Colds,
Bronchitis
An Inexpensive Homemade REM
edy-Gives Surest, Quickest
=, Relief.
NOksX0(O(OkOOSIO(OOOO,O


Anyone who tries this pleasant tast.
quickly understand why it is used in
more homes in the United States and
Canada than any other cough remedy.
cough, giving immediate relief, will make
fore. Il is a truly dependable cough
remedy that should be kept handy in
every home, Co use at the first sign of a
cough during the night or day time.
21a ounces Of Pinex $50 cents WORTHY :.
Pour this into a pint bottle and fill the
bottle with plain granulated sugar
syrup. The total cost is about 81 cents
and you have full pint of the most
effective remedy you ever used
The quick, lasting relief you get from
this excellent cough syrup will really
surprise you. 1t promptly heals the
infamed membranes that line the throat
and air passages, stops the annoying
throat tickle, loosens the phlegm, and
soon your cough stops entirely. Spleen
did for bronchitis, Group, whooping
cough and bronchial asthma.
Pinex is highly concentrated COM
bound of Norway pine extract, combined
with guaiacol and is famous the world
over for its healing effect on the MEM
branes.
To avoid disappointment ask for '21a
ounces of Pinex" with full directions
and don't accept anything else. A guar
antee of absolute satisfaction or money
promptly refunded goes with this prep
aration. The Pinex Co, Fl, Wayne,
Ind,
The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1917-01-11
PACE THREE
THE RAINY DAY,

Ihere's a crash in the hall and a thud
on the stairs,
A racket OF splitting and splintering
chairs.
The cat rises quickly and arches her
back
And gets herself set to repel an at
tack.
A football alights with a shudderv
shock
In the bindly old face of the grand
fathers clock.
The dog huries past, flecked with
fury and foam,
1t is raining today and the kids are
at home.
Upstairs, amid turmoil and riot and
and din,
There's a rattle and roar, and a bed
has caved in,
Downstairs a pale something is dart
ing about
In chirping dismay-the canary is
out,
The goldfish, all freScoed with fOun-
tain pen ink,
Are swimming about, much disturbed,
in the sink,
Down cellar is raging a furious fray
The kids are at home, for it's rain
ing today.
A shoe hurtles by with a jolt and a
bound,
And fragments Of mirror go flying
around.
Out through the front door shoots a
husky young form,
Pursued by three others and in comes
the storm.
A smash and slam, and the plaster
goes "Crack!"
Down tumble the pictures, the husk-
les come back
And start all the jamboree over
again
The kids are at home-they're too
fragile for rain!
Selected.