davidaulloa/AmericanStories huggingface dataset:
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13
Too Many Dollars
Too Small a Stock
Sent Prices Soaring
Geo. E. Roberts Prominent New York Banker Tells why
Increased Costs Are Direct Reflection
Of Inflated Credits

80 long as that $4,000 remain,
IN circulation it is not an increase il
wealth. But that is the kind of pur
chasing power we have in this coun
try. 1t is pure imitation, a kind o.
bloat of dropsy.
II the present level of prices i,
permanent the value of money anc
OF all obligations to pay fixed sums
OF money will be deprecated approx.
imately one-half. 1t means that all
the savings of the people which are
in the form of bank deposits, prom.
lssory notes, of life insurance, are in
large part, wiped out as with a
sponge. The farmer of business man
who, in the declining years of life
has converted his property into bonds
or mortgages will find the interest as
ne receives it, and the principal when
1t is paid, of only about one-half of
the purchasing power that he bargain
ed for. A great many salaried peo-
pie and wage earners are unable to
get a prompt adjustment of their paw
The railroads and public utilities
have been reduced to state of al
most financial ruin. Nobody gains
anything by the higher scale EXCEPT
at the expense of some one else. The
distribution of higher pay is not bas-
ed upon any principles of equity, but
upon the power of coercion.
Credit Initiation Important Factor.
1.-THE inflated state of bank credit
is factor in these high prices. The
whole situation is artificial. Bank
deposits are all up to SO to 100 per
cent, and large amount of the in |
crease is pure imitation, due to the
increase of loans. The way people are
befuddled into thinking this state of
things is prosperity has been the de-
spair of economists in all times. /
These deposits have the same effect
as so much paper money.
Liberal bond loans in the banks
ought to be paid off, and the loans of
The Federal Reserve Banks were new
er intended to be a resort for con-
5inuous borrowing. They were in
tended, as the name implies, to be
banks holding reserves of credit for
Continued on Page ~ :
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13
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The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13

@Luey. WANT Want to Ask YOU"
VIII you-will you-wIll you be en-.
gagged to meP
She stood at a window, seeming to
look out into the summer darkness,
her back to him.
"No," she murmured, just audibly.
"Why nOtl"
'Yo9re too young"
els that" he said, gulplng-'is
that the only reason you won'tT'
She did not answer.
As she stood persistently staring
out of the window with her back to
him she did not see how humble his
attitude had become; but his voice
was low, and 1t shook so that she
could have no doubt of his emotion.
STucy, please forgive me for making
such a row." he said. thus gently.
eve beehive been terribly upset
terribly! You know how feel about
you, and always have felt about you.
Don't your"
Still she did not move or speak.
ais the only reason you won't be
engaged to me you think I'm too
young. Lucy7"
Tfs-it's reason enough" she said
family.
At that he caught one Of her hands,
and she turned to him: there were
tears in her eyes, tears which he did
not understand at all.
'Lucy, you little dear" he cried.
az knew you"
mo, mol" she said, and she pushed
him away, Withdrawing her hand.
"George, let's not talk Of solemn
things"
"'Solemn thIngsl' Like what?"
'Like-being engaged"
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13
Copyright by Doubleday. Page Company.

CopSrSht by Doubleday, Page q Compan'
Continued From Page 81
talked sOunded-welI, little con.
fused"
"See herel" George stepped close
to her. "Are you glad to see me?'
"YOu needn't be so fierce about 1t r.
Lucy protested, laughing at his dra-
matte intensity. "Of course I am +!
Do tell me what's the matter with
you, George!'
II Will" he exclaimed. 81 was
boy when saw you last. 1 see that
now, though didn't then. Well, I'm
not boy any longer. I'm man, and
q man has right to demand totally
different treatment"
II don't seem to be able to under
stand you at all, George. Why
shouldn't boy be treated just as
well as manr
George seemed to find himself at
loss. "Why shouldn't Well, he
shouldn't, because man has a right
W vi tam NApi0hdllOuo.
"What in the world do you want me
to explain?"
"YOur conduct with Fred Kinneyw
George shouted.
Lucy uttered a sudden cry of
laughter; she was delighted. ITS
been awfulw she said. Il don't know
that l ever mead of worse misbe- !
havlor! Papa and l have been twice
to dinner with his family, and I've |
been three times to church with Fred
and once TO the circus! 1 don't
know when they'll be here to arrest
mew
"StOp that" George commanded
Hereby II want to know just one
thing, and mean to know 1t, too!
whether 1 enjoyed the clrcus?"
81 want to know if you're engaged
to himl"
'NO!" she cried, and lifting her
face close to his for the shortest in
slant possible, she gave him a look
half merry, half defiant, but all fond. 1
t was an adorable look.
"Lucy!" he said huskily.
But she turned quickly from him, 5
Ind ran to the other end of the room.
lie followed awkwardly, stammering J
lucy l want--I want to ask you.
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13
Advice soIdlers Need Not rake

Sergeant, the French for which is
sergent, the italian sergente, comes
from the medieval Latin word SER
lens, meaning servant, a vassal, or
vassal soldier who seems to have
acted as an orderly or striker. Tell
this to your sergeant some warm day
when he criticises your appearance on
parade in his coarse. unfeelIng man
ner. 1t win soften him. It may even
melt h6s-New York Evening Post.
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13

pound ever since and give you my per-
mission to publish this letter" Miss
FLO KELLY 476 So. 14th St., Newark,
N. j.
The reason this famous root and herb
remedy, Lydia E. Pinkham's Vegetable
compound, was so successful in Miss
Kelly case was because it went to the
root OF her trouble, restored her to a
normal healthy condition and as result
her nervousness disappeared. 4.
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13

trim
NDU is the best medicine on the
drug market today for the relief OF
indigestion, dyspepsia, heart burn
ing, gastritis, and all troubles of the
digestive organs. In case of lost Wig
or the faithful partaking of INDU
gives new lease on life and persons
plagued with chronic piles find re-
newed hope in this wonderful medi-
cine.
Stick to INDU! 1t is for sale al
til drug stores at $1.OO per bottle OF
three bottles for $3.50.
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13

down and got so
weak l could hardly
stand, and had head
aches every day. 1
tried everything /
could think Of and
was under a ply
sician'scare for two
years. A girl friend
had used Lydia E.
Vege-
table Compounded and
she told me about
it. From the first
day l took itIbegan
to feel better and
now / am well and
able to do most any
( in d of work. I
nave been recon-
nending the Com
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13
ProntIess Activity

DE saddest thing knows Of" said
Uncle Eben, SIS man dat's SO busy
minoin' a ukulele an setter pup dat
ne aln't got time to go out and put two
or three dollars a day in his own
pocket" wv
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13

New York, Aug. 9.-Why has tn,
dollar declined in value, so that today
it is worth about half as much as il
was before the outbreak Of the Eu
ropean War? The answer is that il
has been diluted, and Americas bloat
ed credit system is held to blame.
If the United States had issued
greenbacks instead of bonds to fin
ance the war there would have been
clearer understanding of the in
fiation which has cut in half the pur-
chasing power of the dollar. 1t would
be apparent that the production of
useful commodities having been cur
tailed and the turnout of dollars hav-
ing been greatly expanded, it would
take more dollars to buy a given
commodity under the law of supply
and demand. But the steps from
greenbacks to bonds was step out
of the realm of currency into the
realm of credit, and it confused the
issue.
Factor In High Prices.
The man who had savings ac-
count of thousands of dollars before
the war has only half as much now
The man who works for $50 week,
say, is actually getting only $25.
Those things are true, whether you
blame high prices or imitation. But
if you are prone to consider high
prices kind of inescapable jugger-
naut, you are wrong, because, &C.
cording to George R. Roberts, form
er director of the mint and now vice |
president of the National City Bank,
high prices are chiefly reflex from
which this country is suffering and
the imitation is remediable.
Twenty years ago the people of
this country rallied against the So
cent dollar" Mr.. Roberts said the
other day, "and free Silver was vot-
ed down. But we have got the So
cent dollar today, and it is question
Of whether we are gazing to make it
permanent.
Everybody knows that the pur-
chasing power of money has declined,
and that prices are twice as high, but
most people think it is due to the fact
that something has happened to com
modities. Few think of it as due to
changes on the side of money. There
is something delusive about rise in
prices due to depreciation in curren-
cy. 1t sets up situation which looks
like prosperity, and which for a time
has some of the features of real pros
perity. Rising prices stimulate buy
ing and stimulate production while
they last. They make business good
and bring profitable employment. We
have had great increase in bank de-
posts, and some people, including
some bankers, regard that as pros
perity. They thing it is proof of an
accumulation of wealth.
Bank Deposits Not Wealth.
"Bank deposits are not wealth. If
you borrow $4,000 from your bank
er, and it is credited to your check
ing account, the deposits of that bank
rise $4,000. And when you check
it out, your checks will be deposited
in other banks, and will increase their
deposits. Bank deposits constitute
purchasing power, and the $4,000
we have taken as an example remains
n circulation until somebody pays
off the $4,000 out of savings.
The Kentuckian. [volume] (Hopkinsville, Ky.) 191?-19??, 1919-08-13
A NERVOUS
BREAKDOWN
Miss Kelly Tells How Lydia
E. Pinkham's Vegetable
Compound Restored
Her Health.

Newark, N. J.-"For about three
years | suffered from nervous break
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18

of this association could be secured for the centennial
here.
These exhibits, Alone in addition to good state
exhibit in keeping with the centennial idea would
make the celebration well worth while
II the state does not give to Pensacola the backing
that 1t deserves splits the centennial into four
fairs. then Pensacola will go with its plans and
have the centennial celebration anyhow. But this
the entire western part OF the stae will have
suffered a grave injustice. West Florida has stood
back OF the other sections Of the state in many
public movements for their development This is the
first big thing that West Florida has ever asked OF
the state. And 1t is put in the form of demand
for its rights and not request for favors
II the commission would designate this city as It
properly should as it is the only city which wants
the centennial. and il the commission would honestly
work for state and federal aid for the centennial,
such aid could be secured. Other states have given
and secured such aid and there is reason in the
world why Florida should not do likewise.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18

soon Present indications that lumber and
other building material viii continue to advance
and those who defer the building OF homes now
will more than likely pay dear for each day they
wait Put up more houses and watch the town
grow
One Of the big development projects which Is well
underway in Bombay is the ice and cold storage
plant for which ground broken on Wednesday
The Advertiser says that 1t is hoped to have ne rt
room. IS by IS feet completed by January !.
Two other rooms the same size the one now go
ing UP will be built, the demand is SUIT
ficient and the necessary material can be secured
The need OF such enterprise in this section has
been realized time and the Advertiser pre-
diets that it will be success from the start. The
old method Of waiting proper weather conditions
to slaughter hogs has proven rather costly to Wes
Florida farmers in many instances. With colo
storage meat be cured regardless OF weather and
the quality is maintained and greatly improved.
Kenneth McCask, who is at the head OF the new
West Florida enterprise is doing fine thing FOL
this section, in the establishment of industry
which will not only take of the meat which
may now be secured, but will offer inducement tt
many farmers to raise more and better grade Of
stock.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18

The first pontoon of the new Bruce
Dry Dock made its initial plunge yes
terday afternoon at 4: 80 O'Clock. The
launching went off without a hitch and
was witnessed by officials of the COM
pany. the Crandall Engineering Co.,.
the Aberthaw Construction Co., and
about 500 persons from the city.
The giant portoon which had been
built upon the ways was already for
the launching and it only remained
for the ways to be creased and the
supports knocked out. Within ten sec
onds after the section was released she
was riding gracefully upon the water
and heading straight for her future
berth at the company's dock.
N. Mclean Sage. southern manager
for the Aberthaw Construction Co..
came over from Atlanta to be present
at the launching. Paul II. MacNeil,
resident engineer for the CrandaII En-
gineering Co. and Supt Craig of the
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18

1914
Russians retreat on wide front in
Carpathians; Germans lombard Piotr-
konw important Polish railway center
Allies capture Roulers in Flanders
advance: and trenches near Arras.
1916.
Austrias note on "Ancona" sinking
defends U-boat commanders-Presi-
dent Wilson WEEDS Mrs. Gait at WASH
ington-Ford's peace ship arrives in
Norway.
1916.
Germans near Verdun driven back
by strong French counter-attack; H.
400 prisoners and lis guns captured
Greek government issues warrant for
arrest of ex-Premier Venizelos on
charge of high treason-First food
restriction in force in Britain-Presi-
dent Wilson's peace note demands
ssrestorations, reparation, indemnities."
1917.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18
(Clip and past this in your scrap boo!<s.
Copyright 1919, " ew Era Features.
WHAT HAPPENED DECEMBER is.

Major-Genera1 Cocktails made U. S.
Quartermaster General succeeding
Major General Sharpe; Brigadier
General Wheeler succeeds Major Cen
eral Crozier becoming Acting Chief OF
Ordnance; constitute the first steps in
organizing the new war council
Trotsky, Bolshevist Foreign Minister
calls on Allied ENJOYS to participate
in peace parley-British air squadron
raids London; 10 dead; 10 injured.
1918.
President Wilson to prolong stay
abroad; Premier Clemenceau for
League of Nations-Senator Knox OF
Pennsylvania declares against bind
ing League of Nations-Third Ameri-
can army staff organized overnight
successfully carries out occupation OF
German territory
1919.
Americans are buying Red Cross
Christmas Seals"
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18

Judge NJ. E. Morey was born on a
farm in Illinois So years ago. Moved
to Missouri at the age of two, and to
Florida at the age of 16. AT the age
of seven his father told him he was
not to start to school until he was
eight. The next morning he ran
away from home, walked three miles
to the nearest school and stayed all
day without any dinner. No thrashing
was administered ] for this runaway.
and thereafter he was allowed and
encouraged to attend regularly. He
says he lead his classes in recitation
and devilment. After teaching one
year at Rollins College, Winter Park.
Florida, he spent four years at Van
derbilt University, and was admitted
to the bar in June, 1892. He at once
entered the practice in his home
town, Sanford, Florida, and was elect
ed City Attorney in 1893 and reelected
in 1898. For eleven years he wrote
law books for the Lawyers Co-opera-
tive Publishing Company, one of the
largest law publishing houses in the
world, and now he annually prepares
synopsis of the Florida law for the
Rand-McNally Bankers Directory. A
year ago last June he was elected
Judge of the City Court and will con-
tinue to hold this office until next
June On and off the bench he wears
a smile.
Bald, but born that way. (Quoted
with his permission)
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18
Florida Press Opinion
Jacksonville After Permanent Army Camp

jacksonville After Permanent Army Camp
Now that congress is deciding which army camps
are to be continued which are to be demolished
retained permanent army camp. There is no
doubt but that wonderful climatic advantages of
Florida should prove the strongest kind of factor
for its retention besides its location the seaboar
makes it the nearest point the South Atlantic coast
to the West Indies and South America The health
fulness of Camp Johnston. too stands out conspicu
ously among all the other camps which estab-
lished in the U. S. during the war The present cold
weather which has grpped the country has been
spicuous by its absence here in Florida The people
lot fhe state hope that the Florida delegation in
gress will Immediately get together and strongly work
for the retention Of this camp as permanent fix
ture. 1t has everything the world to recommend it.
Army officers who have inspected the other camps
the country all enthusiastic the superior
vantaes that Camp Johnston offers That the United
States is 10 have much larger standing army than
we had before the is practically certain, and that
the troops will be stationed in different sections of
the United States is also certain Florida owing
its nearness to the West Indies and South America,
should certainly have military post here and Camp
Johnston is all ready to take of from $4,000 to
10000 men. In the winter these men would not be
subject to the terrible cold SO prevalent in other
camps in the country, and in the time these
men would be comfortable here, because Flor
ida being peninsula with the Gulf of Mexico on
one side and the Atlantic on the other side
gets the cool breezes which not found any
other state of the union. Could congress as body
down to Florida in the good old summer time
and really what fine climate we have, they
would be agreeably surprised-Jacksonville Metrop-
oils.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18

q car belonging to her ran into it on
the night OF July 8, near the corner
of Belmont and Palafox-sts. John T.
Stokes appeared as counsel for Alex
apder and w. H. Watson defended
the suits of Mrs. Covington.
A verdict of $500 was awarded to
Win Davis in his suit against George
Brosnaham and wife The attorneys
in this case agreed on this verdict and
il was signed by the foreman of the
jury.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18

Aberthaw Construction Co., were in
charge of the launching.
The second pontoon of the big 5000
ton dock will be ready for launching
within the next two weeks and work
will be begun Immediately upon the
construction OF the third section.
Motion picture photographers and
still camermen were presenet at the
launching yesterday and the initial
plunge of the dock will be thrown upon
the screen over the entire country.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18
MORE BOMBAY PROGRESS

Bombay is one Of the .growingest towns in West
Florida and unless more houses built the Holmes
County Advertiser many of the plans for future
development rendered Ineffective.
The Advertiser says
II Bombay is TO grow in population there must
be additional rental houses erected to accomo-
date people who wish to here. True.
building material is high but there is no assur-
ance that it is going to be cheaper any time
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18
Back to Normal for Railroads

Back to Normal for Railroads
Southern Regional Director B. l.. Winche1 of the
federal railway administration the first regional
director to restore full train service in his territory
The resumption of cancelled trains and the addition
of others they needed this means there
will be possible effort made by the adminstra
ton to assist in the task of helping the further
ing of fuel by bringing folk to Florida.
The record made by the southern regional director
has been of most pleasing contrast generally.
during this control of railroads. It will be
called that the southern region the only of
the great subdivisions OF the railroad world that did
not cost far in of its receipts for operation.
Indeed. B. l.. Winchell has the distinction of being
the only regional director who can show profit for
the administration through operation of his trains
Such business acumen and executive foresight would
naturally be expected to be just about two jumps
ahead OF the next right thing to do and have it
fully illustrated in his ordering instanter-while
others talking about 1.-THE full resumption Of
trains in the southern region
We almost believe that could the peace
treaty through on schedule time, and make it show
La profit above the cost of carrying the league Of
nations covenant Tampa Tribune
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18
Price Pretty High After An

Postmaster General Bureson possibly is congratu-
lating himself the fact that the postoffice de-
partment shows gain Of something two mil
lion dollars for the fiscal year just ending However
this represents but about two cent stamp per
capita for each of the population of this country and
considering the extremely bad service that the nation
has suffered FROM in posoffce department it would
seem that the price is pretty high, after all-Aton
Gazette.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18
DAMAGE SUITS SETTLED
IN COURT OF RECORD

The jury in the court of record yes
terday brought in verdict for s107
in favor of s. Alexander. who was
suing Mrs. c. NJ. Covington for dam
ages sustained to his automobile when
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18
Pensacola Genuine Live Wire

II Florida can't have real centennial. why have
any? The absurd idea Of having it in several places
is the most implausible scheme imaginable. Pensa-
cola. as genuine live wire, is going calmly ahead
and may win out with the one and only proposition
after all.-Lynn Haven Tribune.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-12-18

The Orlando Sentinel sizes up the situation in this
fashion: II the country goes to ruin don't blame it
on Lodge He has said he has done everything to
save from Oblivion. The only thing we can think
OF that he hasn't done is to resign.