davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-01-20
M ark ts-Inve vestr1 ents

pricc level is of no significance what
ever. we shoh'd expect to find just The
reverse CT what appears the reality
We should eXpect to find prices much
higher N Denmark than in Sweden, or
Tor example, Holland. which with al
estimated 20 per cent rise showed the
smallest increase among European
nations Hollands traffic with Ger
EarE. at "scarcity prices" was very
large. The variations among the diff
ferent countries are set forth in an
accompanying diagram.
! Our Volume Of
Work Coupons
But great many people still find
1t very great puzzle why prices
should have risen in the United States
when the increase in the volume OF
money was, ali told. rather small We
have had no large issue of paper
money. as France and Germany. anG,
stIll more. Russia. We did receive a
billlon and more of new gold, but that
did not very greatly increase the total
stock of our currency. But our whole
and The average cost of living abou.
~ per cent, as recently reported (thc
actual rise was uNhoN otedly more than
this. Hcw could il happen is the
money theory" is tlue?
In reality, we did issue perfectly
enormous volume OF new paper money,
Just as did France, Germany and
Russia. 1t was not done by the gov
ernment 1t was not printed by the
chgravers. 1t was done, singular to
say in this land of labor-saving de-
vices-this huge issue of paper cur
rency WAS all done By hand! And
there were practically no legal re-
straints to j. The government did
not guarantee this money No one set
any limits to the volume of it. 1t was
issued practically as it was needed, by
anybody who happened to need it, and
at any time. And the amazing thing
about it all was that all this new
money-billicns and billions Of it
was everywhere recognized as the
equivalent of so much human labor.
and passed dollar for dollar just as
If it had full dollar of gold behind
it. and the government stamp.
This new money was in the form of
checks against bank deposits. If you
stop to think about it, you will see
that in degree it was exactly the
same as if the government had printed
a corresponding amount Of notes, or
had permitted the banks to issue the
Same amount Of new banknotes
10 effect the vast volume Of the ma
tons exchanges every dollar Of gold
or paper money that we possess would
have had to change hands on the aver
age from so to 100 times. In this
huge country, 5000 miles wide and
1000 miles north to south, it is almost
physically impossible. We simply had
to use handmade currency, something
that could be improvised on the spot,
with one little piece of paper represent
ing any desired amount up to millions
or even tens of millions of dollars.
The handmade money was a labor-sav-
ing device of the highest order. But
what l wish to insist on here is the
effect on prices.
New-York tribune., 1919-01-20
wv ork Coupons"
In America

All over Europe something Of the
same sort has taken place under tha
heavy issues of some form Of paprr
currency or. what amounts exactly 10
tn same thing, the heavy increase in =
nations gold holdings. And these
changes in the price levels have fol
lowed with remarkable fdeity this
change in volume. have heretofore
made use of the very interesting survey
N the increase of prices and the cost of
wing made by the "Stockholm Com
mercial Gazette" this fall. The most in
teresting fact in it WAS that even in
two countries practically adjacent and
exchanging large quantities Of products
ono with another, like Denmark and
sweden, there have been differencos in
the rise Of prices amounting to 100 per
cent or more
Thus. for example, the Stockholm
Journal computes the averare r.sa in
Denmark at only 30 per cent while
thnt Of sweden 1t puts at 1872 per cent
more thNA double. Denmark has
been closer 10 Germany and lis sales
relatively larger during the war. If.
as some of our economists insist'
prices are purely the result Of sup
New-York tribune., 1919-01-20
Finance : Economics
WALL STREET OFFICE:
Mills Building, IS Broad st.

Probably the most striking thing
about last weeks declining market
for stocks was the absence of buy
.ng power. The pressure TO sell
could not be called heavy, yet prices
gave way easily for the reason that
buying orders did not develop in
sufficient volume TO match the Of
ferings. This was not new con-
oition. 1t has been apparent for
several weeks that the people who
buy stocks were holding out of the
market pending the future trend of
events i'll the reconstruction. The
same feeling of hesitation exists in
the financial community as else
where. so that there is general
tendency toward conservatism on all
sides which is restricting operations
in the securities markets as we'll as
in the buying and selling of COM
modities. The decline in industrial
shares last week was rather severe.
Some of the leading issues, notably
United States Steel common stock,
which dropped to 90 at the close
of the week, sold at the lowest
prices in several months. Oil shares,
which have been made the object
Of furious speculation, thereby
building up a top-heavy market
position, broke sharply, one issue
receding 20 points from it's recent
high level. The pronounced reac-
tion in the oils was not entirely
unexpected, and probably in the
long run will prove beneficial to the
general market. Railroad stocks
continued in disfavor with investors,
and, while not so active as the in
dustrial shares, lost ground on the
weeks operations.
New-York tribune., 1919-01-20
Bolshevik Russia's Amazing
Experiment i'm War Finance
Central Soviet Has Suppressed Circulation of
Money and Has Substituted s'Work Coupons;
Empire Now Flooded With Worthless Currency

: torrance with smile. and especially
at the idea Of work coupons" But
the very interesting part OF the motter
is that if this phrase was coined by
Lenine or the Bolshevi}; government
( has given one OF the best and
most highly descriptive names to money
that have ever been invented That is
precisely what money is. 1t does not
matter whether it De gold or silver
on paper CT wampum or oyster shells.
Ia the last resort none. 80 far as it
has any function whatever, is ust
"work-coupons" and nothing more.
This is easy 10 sec as long as the
money is made from some kind c.
material like gold, silver or copper, or
nickel, which has q real" value, that
is, value from its employment in the
arts or industries, 50 that men viii
labor to produce 1t whether L be used
for money OF not. OF course, the use
of these metals or other substances
which have been used as money-as
wheat. or tobacco, or beads-increase
their exchange value in proportion to
the amount that seems to be needed to
transact the business OF the tribes or
nations which employ them. There is
just the same law Of supply and de-
mand for money as for any ether ar
ticle
But when money is made out of
simple piece of printed paper, with
practically no real value at all, the
case seems different II no longer
seems clearly Just "work-coupon."
But it must be that, and it must stand
for a very definite amount of work.
or the "value" of this paper money,
that is, what it will buy, will go wildly
up and down, so that it is practically
of no use for the purposes it would
serve. This is just what has been
New-York tribune., 1919-01-20
''kerensky Money" Not
Worth Continental

Under the Kcrcnsky government this
policy of meeting expenses by printing
money was given an accelerated pace,
with the result that the last state
mont of the lrnpcrial Russian Bank,
Just before the Soviet revolution
showed that the total issue of rubles
had reached S,0OO.0OO,0OO, or at nor
nal exchange, something like S9O0O,-
000t 000 It's purchasing power had
steadily fallen to less than one-quarter
of it's former value In other words,
prices had risen about 300 per cent
These paper rubles came to bear the
contemptuous cpithet of "Kcronsky
money"
With the accession of the Lenine-
Trotzky regime the creation Of wealth
by government fiat has gone on more
vigorously than ever According to a
special cable to "The New York Even
ing Post" from its correspondent in
Stockholm. "the Bolsheviki printed be-
tween January l and November 80,
000,000,000 of rubles." He adds that
"the amount outstanding had risen to
10000, 100000 by January l, so that the
total reached by last November the
colossal sum of $4,000 900 0oO."
1t is extremely difficult to get any
range on the average rise of prices.
AS far back as last summer the rate
of border exchange had fallen as low
nh,
Of prices of 500 per cent or more 1t
is stated in the dispatches from Mos
cow that "even by the issuance of un-
limited paper rubles, without any guar
antee behind them, the Bolsheviki have
been unable to provide sufficient money
for their country. Fearing to bank
their money, the people have boarded
it. and the printing presses have been
unable to meet the demands to finance
ordinary purchases"
This situation the Bolshevik govern
mcnt has met in fashion that would
kave brought JOY to the hearts of the
apostles of paper money in the days
of the "greenback craze" in this coun-
try. They have gone the limit and
arguing that money is unnecessary, as
the world will eventually turn back
TO barter based upon labor" they
have now abolished the ruble alto
gether In its stead they will have
The work-coupons. Those who hold
large sums of rubles will be compelled
to give them up to the government,
while individuals with smaller holdings
can exchange them for the new kind of
paper, thus protecting the proletariat
and impovershing the bourgeoisie ="
in accordance with the Bolshevik plan.
After All,
What Is Money!
New-York tribune., 1919-01-20

Money continued to flow from
the interior into the New York
banks last week. The natural re-
suit was a tendency toward increas-
ing ease. Call loan rates at the
Stock Exchange get down to per
cent, while time loans for stock
market purposes we're obtainable on
New-York tribune., 1919-01-20
1ound IN Wss'a'
How Currency
Is Stabilized

In order to give this needful stability
to paper money it has always been
found necessary to make it legally
eXchangeable for some rather rare
substances, like gold or silver, which
have definite value in exchange for
other articles, because they represent
certain average amount of work
needful to obtain them. And so a
reserve" is set up against this paper
circulation" and this currency is said
to be "rcdeemable." In the minds of
a great many people an rredeemable
currency, because it has no value, is
utterly impractlcnble. But this is not
ncedfully the fact
The reason that a gold reserve or
redemption fund" has always been
found necessary is simply the tempta-
tlon to print new paper money when
ever 1t happens to be needed. 4 paper
currency under scientific control would
be just as good as any, for the simple
reason that if the volume of the paper
outstanding was definitely known and
liked, prices within the range of it's
circulation would adjust to this volume
and be as even and stable as any kind
of currency that could be invented.
1t would be far more, Tor example, than
under system of free gold and silver
coinage, where the volume of money
IS left to the sport and chance of great
discoveries or a prolonged dcarth. A
very curious confirmation of this is
afforded right now within the former
Russian Empire.
Communication between Siberia and
the rest of Russia has been largely
cut off since the Soviet revolution.
with the result that east of the Urals
there is no such volume of paper rubles
as has prevailed in Central Russia. In
consequence Of this, as travellers
testify, there has been only very
moderate rise in prices IN Siberia,
save in few articles that are diff :
cult to obtain. Food products and the
other main articles of commerce in
! Siberia have risen perhaps no more
than in the United States. But the
ruble in Siberia has had no known gold
reserve behind it at all. I know Of
lew more striking facts, and how those
VINO deny the narrow relation Of money
and prices can explain it | do not
know.
Ihls adjustment of prices to volume
is tact OF universal experience. and
summing examples OF 1T are to be found
IN the case of every country in which
a serious depreciation of the currency
has taken place. The final end of this
cepreciation. where the paper money
does not entirely disappear, is ALWAYS
that it is Stabilized" at a certain fic
ure at which it is eNchangcable FOR
gold, And this act OF stab.lizing fixes
its "valuc"
thus. for example. originally the
dollar of Argentina and Of its neigh
Dor Uruguay started on an even basis,
which was just about equivalent to our
own American dollar. To-day the Ar
sentine dollar is worth about AZ cents.
while that OF Uruguay is still wortl, a
COLLAR, gold dollar. The Argentine
finances and exchange went ali to
pieces and the pesos value steaGjlv
fell until it had reached fairly stable
level. What was this level Why.
SIMPLY the level at which these paper
collars would exchange directly, or for
ne equivalence, of given part of a
days work; that is, when they became
IN reality work coupons" on a rccoe-
niZed scale.
New-York tribune., 1919-01-20
Telephone
Hanover 6514

lower interest basis. What was
more important perhaps was the in
creased activity Of the banks in the
commercial paper market, where a
large volums of discounting was re
ported at to 5 4 per cent, the low
est rates in many months. CONNER
cial borrowings, while on the in
crease, were still below the normal
volume for this season of the year,
indicating hesitation among mer-
chants and manufacturers with re-
gard to forward business.
New-York tribune., 1919-01-20
After All,
What Is Money?

Now, there are many wise people in
this world who read Of this naive per
New-York tribune., 1919-01-20
Consolidated Exchange

Unit of trade on this exchange, 10 sharesl
Following table gives total transactions for
the week ended January Is. with the high.
low and closinE nriccS:
New-York tribune., 1919-01-20

The General Electric Company
Will establish separate organiza-
ton for it's export trade, such as the
United States Steel Company has
had for some time. This may prompt
other electrical manufacturers to
such a combination under the Webb
Pomerene law as has been formed
by the lesser steel companies. One
large manufacturer looks to these
new export combinations to become
great holding companies, for the
stabiliZaton of prices and conditions
in the several industries. The pow
er which such associations could ex-
ercise might be very great. They
could readily command large capital
and all needful credit. In times of
hesitation and slow trade, they could
take care even Of large surplus
and in general act as a kind of force
ct equilibrium, not merely for the
export but, retroactively, for domes.
tic trade as we'll. Some who have
carefully considered the problem be-
lieve that this may be one of the in
dustrial developments of the next
few years.
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13
GET READY
FOR FLU
Keep Your Liver Active, Your
System Purified and Free From
Colds by Taking Calotabs,
the Nausealess Calomel
Tablets, that are De-
lightful, Safe and
Sure.

Physicians and Druggists are advis-
ing their friends to keep their systems
purified aud their organs in perfect
working order as a protection against
the return of influenza. They know
that clogged up system and lazy
liver favor colds, influenza and serious
complications.
To cut short a cold overnight and to
prevent serious complications take one
Calotab at bedtime with swallow Of
water-that' S all No salts, no nausea,
no gripping, no sickening after effects.
Next morning your cold has vanished,
your liver is active, your system is purl-
fed and refreshed and you are feeling
fine with hearty appetite for break
fast Eat what You please-no danger:
Calotabs are sold only i'll original
sealed packages, price thirty-fve cents.
Every druggist is authorized to refund
your money if Yen are not perfectly
delighted with Calotabs.-(Adv.l
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13
TWO DENY KNOWLEDGE
OF JOEL EDGES MURDER

fnelicus,i cp. Nov hp-Wldter
w Wilson accused OF the murder Of
Joel Edge, is now conf ned in cell
Of the Sumter county jail, where he
was brought Monday folio, ing his
arrest week ago at Morris Ga. it
is understood on good authority hat
the accused man has mado ful
statement to Sheriff Harvey lie 9th
ers in which he deniees all nowledge
Of the murder. Wilson even denies
beng acquainted with Edge, it is
said and has delineated to the states
rerresen; alive his movements on the
night of the murder.
Henry Binyard, LEGGED negro ac-
complete of Wilson, will alsa claim
an alibi
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13
ALL DAY SINGING
REDWOOD CHURCH
PLANS MADE FOR A MOST ENJOY
ABLE DAY

Plans have been made and all the
preparations completed for an all day
singing at RlehwooG SUNDAY. This
will take place in the Baptist church
People throughout the community
have made plans to attend and good
singers from distance will be there.
The general public, here and else
where has an invitation to attend and
enjoy the singing.
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

If you have any Mattresses you
want Renovated we will do your
work at the following prices. Where
we use same tick $3.50 each or 5000
each and furnish new tick, all work
guaranteed, we pay express one way
you ship them one day and get them
back the next. Bibb Mattress Co.-d2
Successors to East Macon Mattress
Co., Macon, Ga. 1894
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13
OF INTEREST TO WOMEN

The lot of the young wife in Indie
is in many respects an irksome one.
In certain parts of the country it is a
common custom that a young wife
living, as she does, in joint family
of ten or twenty members, must never
show her face to her husbands father
uncles, or older brothers, or talk With
'"e"t tad aLrnAH no.
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

The highest interest that c5n be
charged for loan in the Isle OF
Man is six percent. and that has been
the lawful rate for more than two
years.
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13
Rheumatism

is completely washed out of the system ~
the celebrated Shnar Mineral Water. Pos
itiyely guaranteed by moneyback offer
Tastes fine. costs triAe. Delivered any
where by our Cordele Agents, Heard Gre
Gerry Co. Phone them.
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

SALE OF HOLD FAsT-F'riday and
Saturday, Nov ID and 10 Regular
price for box, penny for the SCI
cond. size5oc and s1.oo.' Wflkes-Web1
ster Motor Company. 81 sl1-12-3
~
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

Early in the participation of the
United States in the world war, the
American Red Cross perceived the
value of modelling the school children
of the country and the Junior Red
Cross was organized. Before the war
ended nine million children were en-
rolled and helped in the war fund
and membership campaigns, in chap
ter production Of relief supplies and
manufacturing furniture for the ref
ugees whose homes and household
goods were destroyed.
Children everywhere in the United
States responded to the call to serv-
Ice sounded by President Wilson as
head of the American Red Cross.
This photograph is that of an en-
thusiatic young japanese member OF
The Junior Red Cross of Spokane,
Wash, starting out on the ambitious
undertaking of collecting "a mile OF
pennies" for war relief A compre-
hensive peace program is now being
worked out for the Junior Red Cross.
which Is being held intact.
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13
Desirable farm loan ap.
plications, Interest . IL fi5Isrcsat w.
81, aH4A&aast
C. Winfree. 1888 { T.

5ERMUDA-Onion set 25c quart
seed Rye $500 bushel FAINT Drug and
Seed Store. 10-13-tf
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

FOR sALE-Glist Mill Is by electric
motor horse ana wagon, Ford touring
car. milk COW, plow toools and house
hold furniture all at bargain. Mrs.
E. J. Minyard, 80 Eleventh ST.,
Cordele, Ga, 1914 26t
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

THE DRl-KuRE SYSTEM 4of vul
canning rubber is the right way try
our plant with your next casing or
tube. Nell and Still Byron Building
1o-17-2a
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

Use Plurasav for that cold
as directed, You will be de-
lighted. 1t never fails to give
relief. For sale by all Drug
gists. M-l3-2b
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

QUICK LoANS-Made on both city
and farm lands. See c. NJ. Mckenzie
719tf.
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

WANTED TO RENT-lFive room
house close in A. Cohen 129 Eleventh
Avenue. 1l-l5-Zt
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

FOR RENT-Ten horse farm all to-
gether or to different one horse ten
ents, 8 miles of Cordele in Crisp coun
ty. A. B. McRae Cordele Ga. Hist
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

COAL AND Woop-First class dry
pine, best standard black jelico coal.
We have on hand about fifty tons,
price $3.50 a ton, for next eight days
We have 100 tons now in transit adj
wise you to order now. A strike may
stop coal shipment in November
w. M. Hutchins. Phone 5O4 yard
Thirteenth Ave. West. 1O-19-26
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

eUGGIES AND s.-HARNESS-We
handle the famous jackson G. Smith
GAINESVILLE Buggy. See us when you
are in the market for buggy. HURT
e. WILBANKS.
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

GLOVER MILLING CO. Seventh
ave near Ice plant-Grind corn for
toll or buy corn. Fresh meal for sale
1o-15-26t
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13

FOR RENT-Suit OF two furnished
rooms for light house keeping 511
Sth Street south. 11-1O-St
The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-11-13
WANT ADS
NE CENT A WORD
CASH IN ADVANCE
THREE TIMES
FOR PRICE or TWO
Plurasav is guaranteed to re-
lieve that sore throat and
cold. 11-13-26

FOR SALE-Forty-nne acres land
one mile Cordele. all in cultivation
good improvements. Well located
for dairy or truck farming. For price
and terms see w. {. Winfree. 10,13-26
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1919-09-23

he started. and after they wero here.
he furnished the brains. too.
When the state went dry. went
In tho business on Pine at BY tho
time tho bulls created tho dry squad
had built up n pretty fair trade.
| knew all ths good customers. when
we had 20 shut down a little. and
didn't have 10 sell 10 any outsiders.
In that way l managed 10 steer clear
OF the police.
Wanted Delivery
zone night n stranger came into
my joint 4 want bottle he says.
and deliver IL up 20 my room He
gave me tho addreu. gives him
tho up and down. and says. What
d'you think this IL. "a night and day
delivery dump7 II you don't want
that booze. ieavo u here. There's
lot others Just thlrsunE 20 get a.
Where's your star. anyway. trying
10 get mo 60 deliver booze TO your
roomg
You scc. I thought he might have
been ono OF those ny cops: they were
pretty thick about that time lie
explained a little. 30 / went up 20
his room. when I got there. ho
showed me stacks OF barrels and
cases. all filled with whisky. He
said his name was Billingsl-y. and he
wanted advertising and customers.
no ! agreed 10 sell for him.
USED To be pretty thick with some
or those oopp@rn Just like oil and
water. They wcrr continually gum.
shooting around laying for mo. Ono
umo they nabbcd me, when was
running tho city limits with a ship.
mont They searched the car. but
forgot TO look under tho hood. 80
they missed tho cache. chuckled
long time about that one. After
that they arrested me every chance
they got Eleven times I was pulled
and II times Prcxy Gordon had 10
dismiss tho case. Made them sore.
They got me tho 18th timo for 500.
but they missed n cass OF whisly
and ! made enough on that to pay
the fine.
Called on Carpet
During tho. grand jury session.
Fred Brown and his gang had me
on the carpet. and told them n
they didn't lay off ia spill something
about tho poolroom Chief warren's
Z