davidaulloa/AmericanStories huggingface dataset:
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
BOZ 0 zACHOVANf PIVA.
FEDERALNi sOUDCE We WISCONSIN,
UZNAVA VOL LSTEADOVU PRED.
LOHU "a NEUSTAVNf.
LEGISLATURY STATU NEW JERSEY POVOLUJf
VYROBU A 1z PROCENTNfCH NAPOJU.

Milwaukee, Wis, 1. bfezna. Vyroba prodei 25 pro-
eennho pva uzakonena bya dnenm rozhodnutim federal
nho Geigera pokusnem Mantowoc
Co., vedenem pro vymahani prohbce die Voseadovy
predohy Soudce oddvodnue svI vnos predohou Muberg
rovou die ktere majf vzdy zakony jednotvch sou
pfednost pred zakony spolkovymi.
zalobe menovane spolecnos prpoiily tr pivovary
Manitowoc edne tim uGelem ably ednou vzdy byio
vymahani zapovednosti vykazano do patcnych kole
imena pokud ty6e pva alkohockym obsahem pull
procent kere nemGze byt povazovano napoj opojny
Soudnm vynosem jest povazovano Oddeeni L. tlanek g.
Voeadovy pfedlohy nestavn ekoz timto paragrafem
e zakzany napo zaazen mez hoviny mez kere zafad
pvo udane silly media ak tom sv6dGi W jne vynosy neen
soudni ale kongresn.
Washington l. brezna. 81 statn pripojio X fede
ran Wade pranm aby p0vodni zaoba Zadana staten Rhode
cke save bya zazena Zadost poda Charles T. Hughes
stay: ~ '<@Ns-1s%SassaaF" "sAseeel9
Delaware, North Carolina Kentucky Louisiana, 1ndanu
Aabamu, Maine Arkansas Michigan, Florida, Oregon
West Virgne Nebraska Nevadu North Dakotu South
Dakotu, Wyoming, Utah Arizonu.
Generalni zalobce Rhode Isandu, Rice poda prot "a
dQst ejmz havnm dGyodem Jest nazor vadni vrzeni
jakoby prohbni dodate save by nedotknuelny vesti
mdze edne nasi anarch Podobna odvoani osla tez
Kentucky Massachusetts nchz melo byt ednano prsho
ponde ale Tzeni muscle byt odlozeno dobu pozde De
vSeho konati Sc bude dine Is. breZna.
Trenton N j. l. bfeZna. Senat satu New Jersey dnes
pozde veGer II proti hasIm prija pvni kompromisn
pfedohu dovoluc vyrobu prode dopravu napoG neobsa
hucch vice ak 32 procenta hu. PTedoha po ejim uza
konen nemze ale drive nabi pravomoc dokud mir nebude
defnvne prohaen Tataz predoha byla schvaena domem
zstupc pfedes tyden Novy zkon zmocnuje ez generan
no taemnka stu New jersey haiti tmto smsrem prva sta
nevySSm soudem Washingonu Jak vseobecne
otekdv podpe shvalenou pfedlohu Edwards jz
Ultra dopoledne
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
LAKEWOODSKE UCITELKY
ZfSKAJf VETSf SLUzNE.

Lakewoodska obchodni ko-
mora rozhodla Sc vcera prosa-
diti zvyseni sluzneho tamejsim
ucitelkam, byt' i podobne IVY
Semi verejnou pGjtkou melo Sc
dociliti. Lakewoodske skolstvi
trpi deficitem 100000, kteryz
to deficit bude puickou umo-
rem novy fond ku krytf bez-
nych vyloh ziskan. Ucitelkam
ma lakewoodskych vysSich sko-
lach dostane sc 3Sprocentniho
a ma gramarnfch 25procentni-
no pridavku. Budou tudiz Wy.
delavat vic nez ucitelky eleve-
landske. ....
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
USPESNY POSTUP BOLSEVIKU MA
KAVKAZE.

Londyn l. brezna. - nedel po urpunem boj zmocnily
bosevcke rude gardy Sayropoe havnho mesta steno
menne guberne severnm Kavkazsku Oznamuje tax dnes
veGer dosly obeznik ruske sovetske. .vlady.
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
PODZEMNf DRAHA MA
VYCH. SIS. UL.
Radni budou zaverecne uvaz 70.
vat O Barberove kontraktu.

Y pondelnim Zasedani NEST
ske rady bude koneGn6 snad
rozhodnuto, mali byti stavba
podzemni drahy ma vych. 55.
ulici povolena ci nikoli. O po-
voleni to pozadal pred valkou
milionar O. NJ, Barber, kterez-
to povo,eni bylo vcera schvale
no zeleznicnim radnim vybo-
rem. Barberova spolecnost "a
vazuje Sc vykopati tunel pod
55 ulici mezi jezerem a udolim
reky Cuyahoga. Tunel mel by
4 parry kolejnic a slouzil by ku
doprave nakladn cd jezera do
zmineneho 1doli v mistech,
kde MorganIv potok reky Sc
dotyka. Naklady IL reky byly
by rozvazeny vlaky do vnitro-
zemi.
Proti povoleni tunelu "a wee
rejsi vyborove schaze byl zvla-
ste mestsky pravnik Fitzgerald
ktery tusi "a celym Barbero-
wynn planem Pennsylvanskou
drahu. Fitzgerald namital, re
tunelova spolecnost necinila
mic v dotcenem podniku celych
pet let ze jeji dosavadni W.
sadly mely by byti mestem zru-
seny. Zastupce spolecnosti pra
vnik White presvedcil vSak rad
nj vybor, re jeho spolecnost
ma statbu skutecne pomySli V
nekolika mesicich ze by il "a
haji.a. Tunel byl by dosti hlu-
boky, ably povrchnim trakc-
MIN 1iniim neprekazel majet
ky ma 55 ul. neposkozoval. PAX
Ii celia rada stavbu tunelu
schvali, povoleni to musi byti
dodatetne volici 27. dubna po-
vereno. aAIi
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
JMENOVANA. POL. MATRO
NOU.
Pani Crawfordova, jejiz muz
byl zastrelen poruc. Dewa-
rem ,ziskala mestskou sluzbu.

Ma podnet pol. natelnika Fl
ditel A. B. Sprosty ustanovil
vcera pani R. Crawfordovou
ze zap. strany matronou ma u
stfedni pol. stanici. Crawfordo
We chot' byl zastfelen 16. rijna
loni pol. porucikem Dewarem
a ponevadz ovdovela Sc svym
4letym synem po ztrate zivite-
lie nouzi Sc ocitla, pol. trad
poskyt1 il vyzivu vyseuvede-
nym zpisobem. Znamo totiz,
re muz jeji, sofer Robert Craw
ford byl usmrcen bezduvodne
a jmenovanym pol. dustojni-
KEN k tomu. Pravf Sc, ze De-
war byl opi.yy, kdyz v fijnu To-
nj objednal 81 CraWforda ku Wy
jizdce do Brecksville a behem
vyjizdky Sc soferem Sc poha-
dial, kteryzto spor vrazdou "a
konGil. Dewar bude procesovan
v dubnu pro zabiti sve pol
hodnosti byl zbaven hned pc
zminenem Zlocinu.
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
POTVRZENf ZPRAVY o DIKTATURE
HORTHYHO.
MADARIE MA JIz SVEHO RECENTA.

Budapest, 1. bTezna Admiral Mkuas Horthy, vrchni
vete mad arske armady drve nacelnk
moci by narodnm shromazdenim zvoen
Madarska Vadcem Uher y zvoen 181 hlasy prot 141
Dne 21 unora doa Budapest do Bazilee Svycarsku
zprava re Horhy b zvoen dkatorem jak dnesn depese
nasvedue ba zprva ponekud predcasnou tepre dnes
podvny obrat mad arske Wade potvrzuje.
Prav ze Horthy by pobadan prekvapujicimu kroku
zastupc spoeneckch moci dnes havnim m&ste
Madare kte pTpisuji domnee zasluhy usalen vady
dnesnich Uher.
Horthy dosta povrch dobe kdyz svefena byla
organsace nrodn armady pro komunisticke dkatue Bu
dapese Sc zmocn mnueho roku po odtazen
skeho voska
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
FRANCOUZSTi SOCIALISTE PROTI
BOLSEVIKUM.

Parz, l. bfezna BolSevsm by op6tn6 neusp9Snym
pf pousu zapust Francii hubsch koTen
stcky sezd dnes Strasburlu odozeny zavhl dnesniho
dopoledne kazde spoeni rancouzskych SOCIALISM, Lennem
a Trockym sice pri pomeru hasG iednomu
Sized vydal provolan ke sociaistum ably
pracovn by novy mezinrodn soutasne prohlas
druh nernaconaa zalozena trdnim bo byla
valkou jez spoa kaptasty d6nky bo ochranu ieich
zemi Radkaove pochazec hlavne PaTize byi porazeni
vsech stranach zasanc Trockeho Lenna by uml6en.
Kazdy kdo ddverue prav socialism by mus byt blaznem
ably krace vudc akm sou oba menovani predac rusk
vady soveti bylo reeeno pri debate
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
MOBILISACE PRACE. LETNf CAS-.
TAKE BOLSEVICI DONUCENI VYUzITKOVATI
DENNfHO SVETLA.

Moskvy - Sovet narodni obrany usnesl ohlas vse
obecnou pracovn mobsac osob stf cd do so let ez
posednch 10 eech pracovay phi drahah ako strovudc
pici Zamecnici moner kondukte vyhybkar atd Mobsa-
c podeha vsechny osoby vymenovanych prav6 zamstnn
bez ohedu TO- Zda jsou zamesnani nych zavodech
bo nemali nyn6ja dobe urcteho zamestnan obilsaG
niho rozkazu jsou vyjmuti pouze zfzenc
rodobnou suZbu rude arnad6 Vsichni mobisvan ou
vnn pfhlasiti do pracovnch seznam6 lhdte til dn
Ia ucelem spor pava SOVIET narodnch komsa nafd ably
nOci Ia. Is hodny celem uzeni repubky
byy posunuty jednu hodinu napred
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
PAN VACLAV SNAJDR v
KALIFORNH VAzNE ONE
MOCNEL.
Pfitomne jest osetrovan lekar.
skymi odborniky v San
Francisco.

Posledni Gas opakovaly sc '
Clevelandu zpravy, re pan Va
CLAW Snajdr, jenz pred nekoli-
ka mssici 8 rodinou svou do
kalifornie Sc presidlil, vazne
onemocnsl a vcera bylo jeho
zdejsim pribuznym sdslovano,
xe stav nestora ceskoameric-
kych journalistic pana Vaclava
Sna jdra We slunne kalifornii Sc
znaSns zhorsil, takze musel by.
ii svefen peel lekafskych auto
rit v San Francisco, ktefi obrat
v jeho nemoci v deseti dnech
ocekavaji.
kez je to obrat St'astny!
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
NECHCE BYTI PANEM
BERNSTEINEM.

Byvaly municipalni soudce a
statni senator, pravnik Moric
Bernstein pozadal vcera probat
nj trad, aby jeho prijmeni
Bernstein bylo ma Bernon ofici-
cline premeneno, ponevadz
Bernsteinn jest v meste dlouha
fada, cimz dochazi k castym
nedorozumenim, jimz novym
-jmenem Bernon lie sc vyhnou-
ii. Zadateli bude vyhoveno.
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
AMERICKA SOUKROMA PUJCKA
POLSKU.

Washington 1. brezna Neblahy fnancni stav Polska
ma byt ozdraven pujGkou zde Amerce obnosu
$50 Washngtonska legae Polska ohasue dne ze
lest proudu vyednavan vydanf bondu teto zem KITE
rouz akci ma Peoples Industrial Trading Corporation
New Yorku tato akce bude prvn pickou sveho
druhu posytnutou statim nnue yalky povstaym
posko Jest vseobecns evopskm znalc povazovano n
vetsi jedino hraz zapad sicfmu boevmu podobne
Sc vyad gen. Tasker Bliss kdyz posedn9 pred vbore do
mu zastupca Sc pmouva aby Polsu byla povoena phka
vady spoenych fondy nchz byy pro hladovc
obyvatelstvo Polska zakoupeny potravny
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
POKLES POCTU PORODU We ViDNI.
JEN 8 NOVOROZENAT 1882 UMRTf IA JEDINY
TYDEN

Geneva, Svycarsko, l. bTezna We Vidni byvaem milo
novem hlavnim meste rakou6 fe byo ydnu cd g. do IA
unora zaznamenano en pofo omerne veky potet 1882
Inr tutez dobu Hrozny nedosatek hub havne ditky
Vada mus pecovati vice ak eden million d6tf iak mi
port koncem posednfho tydne podany spoeGnos iez
tvorila pod jmenem "Zachrante ditky.'
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
PROTI NAHRADE BYVALEMU Ne
MECKEMU CfSARI.

Berlin, l. brezna - Navrh pruskeho snsmu, ably byvale
n9meck6mu cisa Vemov bya vyplacena nahrada
ceny trn satky korunni byly vymuty vseobcne kon
kace setka oposc socalstn kter dneni hromadne
schz vsech organisac bernskem distrku ednmysne
Schnze scastn nekteri sociasc Genove dne
vady. Vade bylo dano varovan re padu pfmut sne
vystoup vlady vsichn pfislusc ocianch
SveÌŒt = World. [volume] (Cleveland, Ohio) 1911-1939, 1920-03-02
CESKOSL SLOVENSKA ARMADA v SIBI-
RI VYDALA KOLCAKA UMYSLNE.

Londyn 7. 1nora. post. zprdva) o vydani KoGakove
dovida dopisovate 'TmesG Cech6m byo uozeno
KolGaka chran vsak nesui rozum6ti jakobv by
povinn ob6tovat Will nemu spoustu dskych zvot Cecho
sovaci tvrd celia cast armady Bakaem byaa ba
zncena kdyby by nebyl vyda Kocaka Avsak by by jei
byva vyda kdyby neme tohoto zreelu prooze jeho ty
ranske ukrutnost vyvolay jech nejhlusi rozhorGen
, 1920-08-20
Publication.

IT S hereby made known, that the taxes
for the year 1919 for town and coun-
try properties became due on the LIST
of May a, c. and will be received at the
Branch of the Danish West Indian Ma
tional Bank at Christiansted for the town
and country district of Christiansted'
and at the Frederiksted Branch for the
town and country district Of Frederik-
sted.
At the expiration of the. month of
August the list Of arrears will be for
warded to the Sheriff for further meas
ures.
Government of the Virgin Islands OF
the United States, St. CroiX, August
II, 1920.
FRED. B. COLBY,
DeSpdtchlng Secretary.
, 1920-08-20
ublication.

Ut is hereby brought to public notice
that the Letters Patent which were
recorded in the United States Pa
tent Office, Washington, D. c., on IL
January 1926, in the name Of the Gil
lette Safety Razor Company, a corpora
ton organized and existing under the
laws Of Massachusetts, and patent GER
tificate No. 1923, 024 issued therefor,
has this date been registered in the office
of the Government Secfstary of the Vir-
gin Islands of the United States, at st.
Thomas, in accordance with provisions
contained in regulations issued by the
Governor on 80 June 1920.
Government of the Virgin Islands of
the United States, St. Thomas Z August
1920.
C. C. TIMMONS,
Government Secretary.
, 1920-08-20
. Publication.

IT is hereby brought to public notice that
the trade mark shown below, which was
registered in the United States Patent
Office. Washington. D. c., On II August
1912, in the name of the Auto Strop
Safety Razor Company, a corporation
organized and existing under the laws Of
the State of New York, and trademark
certificate No. 88, 048, issued t erefor,
has this date been registered in the
Office of the Government Secretary OF
the Virgin Islands of the United States,
at St. Thomas, in accordance with the
provisions contained in regulations issued
bv the Governor.
, 1920-08-20
Publication.

IL is hereby brought to public notice
that the trade mark shown below,
which was registered in the United
States Patent Office, Washington, D. c.,
or "a September 1912, in the name of
the Auto Strop Safety Razor Company,
a corporation organized and existing an
der the laws of the State of New York
and trademark certificate No. 88,449,
issued therefor, has this date been
registered in the office of the Gov
eminent Secretary OF the Virgin Islands
of the United States at St. Thomas, in
accordance with the provisions contained
in regulations issued by the Governor.
, 1920-08-20
For good appetite and
good digestion use
Dr.. Ross Life Pills.
Readsrs. No. BOLT.
n E.

pARTIES having claims against the
= Joint Estate of the deceased JOHN
JAMES WILLIAMS and surviving wild
ow ANDRINA WILLIAMS, born SMITH
are hereby notified to file their claims
accompanied by necessary proof with
the undersigned Dealing Court within
three months.
Frederiksted's Dealing Court. St.
Croix, July 21st 1920
WILH. JENSEN.
The St. Joseph observer., 1920-05-08
CONSIDER THESE HIGH PRICE
FACTS

OF course you are grumbling about
the high prices, and the high cost Of
living, If you are not, you are the
only person in this famed Platte Pur-
chase who is not-and if you are that
lono one, you may as well join in the
chorus and make it unanimous.
While you are doing all OF this
grumbling and bowling, has it ever
been brought to your attention that
at the time that the great world war
broke out, the paper money of the
whole world amounted to approxi-
mately seven billions Of dollars. At
the date Of the armistice it had in
creased to forty billions. not includ-
ing that emitted from the bolsheviII
printing presses in Russia. At the
present time it is fifty-six billions
The paper money in circulation, In
other words, has been multiplied by
eight in less than six years. DO you
wonder prices are high?
And the circulation Of paper money
las increased almost half as much,
in the eighteen months following the
war. as it did in the whole fifty-one
months the war lasted. Do you won
der that prices have continued TO
! rise?
The national debts Of the world
amounted TO forty billions in 1918.
Today they aggregate 265 billions.
/ The annual interest charges on these
debts are over nine billions a year.
compared with about Sl,75O.O 900
before the war.
Inflated currency. debts, taxes. all
these are elements that enter into the
fixing Of prices,
Is a material reduction in prices to
20" expected within the next year or
,Vo9
Consider just few facts.
The railroads are asking permission
20 Increase rates that will involve an
additional cost on domestic commerce
Of approximately Sl,50O,o 100000 a
year. and indications are that the re-
quest will have 10 be granted.
Congress is preparing to grant the
soldiers a bonus aggregating another
billion and a half
Increased wages to be paid the Goa.
miners. together with the additiOna
profits the operators will tack on tC
,hcm, Will amount TO another billion
The St. Joseph observer., 1920-05-08
HOW TO BE UNHAPPY

The real secret OF being miserable
is to have leisure to bother about
whether you are unhappy or not.
The cure for it is occupation, be-
cause occupation means preoccupa-
tion. and the preoccupied person is
neither happy nor unhappy, but sim
Ely alive and active, which is pleas
anter than any happiness. until you
are tired Of it.
This is why it is necessary to hap
r.ness that one should be tired. Music
after dinner is pleasant; music before
breakfast is 50 unpleasant as to be
clearly unnatural.
To people who are not oveIworka ed
holidays are a nuisance. To people
who are, and who can afford them.
they are a troublesome necessity. A
perpetual holiday is a good working
definition OF hell.
The St. Joseph observer., 1920-05-08
THE TIE THAT BINDS"-BUT
DON'T

The old song-'The tie that binds"
will not work efficiently in these mod
ern days-for it is too often broken.
Witness our divorce courts.
In the history Of the world perhaps
there was a time when the ''tie did
bind" but now it is ruthlessly and all
too frequently rent assunder. Tho
newspapers are full Of tales of broken
ties--marriage ties between man and
woman.
It's pity. It's shame-a dis
grace 20 twentieth century civiliza-
ton. One must admit as much.
In the three divisions OF the Bu-
chanan county courts which convened
this week and will be in session for
sixty days. there are now over six
hundred divorce cases on the dockets
for this term. But it is not only the
court ties that are to be crushed
there is yet a sadder side to the story
the side that tells Of great strong
men with yellow streak. who sud
denly leave their homes and their
families and go away, leaving no word
of comfort-leaving in many in
stances, a frail little wife to battle on
alone; little children who can not un-
derstand why papa" doesn't come
home.
And yet still another side of the
swapping of the tie that binds-yet
not often-where a mother kisses her
babes goodbye and disappears.
The dispatches tell of such cases al
most every day--they happen right
here in st. Joseph: they will happen
again and again--unless some men
and some women open their hearts to
let in the sunshine OF their Maker;
unless they come to realize what an
awful sin it is for father or mother
t. desert home and children.
Those who walk in the pathway oi
Living Light say the world is growing
better. day by day. Is it? Let u.
trust it is. Yet, when one pauses Il
review the shattering Of hopes-tht
breaking of endless ties--a shadow
comes fitting.
The St. Joseph observer., 1920-05-08
JOHNSON Is LOOMING MENACING.


1t is a fact that Gen. Wood beat
Hiram Johnson by a scratch in the
Nebraska primaries but it was bare
set -by-and that 10000 majority
which had been predicted for Wood
was almost totally dissipated-for the
two ran neck k-and-neck and wound up
by dividing the delegation. In New
Jersey Johnson showed the same
strength he disclosed in the Nebraska
Urinary.
And this big vote that Johnson is
now receiving is recruited from radi-
cal sources and from the foreign-bcrn
element that resented the entry of
the United States into the war, that
is hostile to Great Britain, that is re-
ycngeful against President Wilson,
and that is opposed, as Johnson is
opposed. TO the league Of nations. The
support given him is the more i'm
Pressiye because the regular republic
can organization Of the state was
supporting Wood. and had made a
thorough and highly expensive cam
paign for him, while Johnson's cam
raign was in the nature Of an elcv-
e1th-hour rally.
Gencral Wood failed also, In last
weeks primaries, to rally either
Massachusetts or Ohio to his support,
though ne captured a few delegates
ia both states and did a little
in the way Of gain in Mary
land. Il has been rough
sieddlng for General wood ever since
the surprise party Of the Michigan
primaries, while the Johnson boom
. has been steadily gaining momentum
l It Is now thoroughly demonstrated
that Hiram johnson and what he rep,
resents and stands for will present al
exceedingly grave problem for the
| Chicago convention to solve. He /.
demanding the presidency on a plat
form Of "undiluted Amcricanism, ye
"hyphenism" combats with radical,
ism for the honor Of according hin
the strongest support. His nomlE a
tion would demoralize. II It did no
break in two, the republican party
At the same time the question !!
growing whether the failure to nomi
The St. Joseph observer., 1920-05-08
USE FORESIGHT-AND DEFEAT
ROBBERS

st. Joseph people are generally
prudent and know how to take care
CT most matters-but they do not
know how to circumvent the thrifty
burglar-for they still persist in keep
Ing large sums of money, convertible
bonds and valuables in their homes
instead OF placing them in banks or
,-:oty deposit vaults?
Hardly day passes but someone
reports to the police that a home has
been robbed of money or other things
OF worth that could easily have been
placed for safe keeping behind steel
doors with time locks for paltry
sum. No one in these days of unrest
all over the country can afford to
take the home chances of safety"
The police records will attest that
when a thief enters a home. and is
unmolested, he invariably rummages
through everything possible, and most
of them are adopts at finding hidden
treasure.
During these times Of high cost OF
living. rational people should be un-
usually careful with what they al
ready possess and not expose it to
theft Midnight robbers are no re-
spectors of places or persons. They
rob homes, business establishments or
even churches. as evidenced by the
theft of valuables and money from
a church the other night. If money
and valuables were placed in banks
or safety deposit vaults the list of
robberies would diminish very quick
/ ly.
Why not make robbery unprofit-
I able by the use OF little foresightG
The St. Joseph observer., 1920-05-08
THE DAY OF RECKONING NEAR

There is no particular mystery
about the panicky slump in the specu-
lative markets. Initiation tells the
whole story. There has been. to be-
gin with, a great and dangerous war
initiation of banking credit, and this
has been attended by an equal infia-
ton of prices and of union wages and
Of all industrial calculations.
Under the wise leadership of the
federal reserve board banking credit
has been in forced process OF con-
traction for some time. 1t will be in
evitable as this continues that prices
and nominal wages, in so far as they
kept pace with the initiation of credit,
will fall back with the contraction of
credit to more solid ground and bet
ter real wages. This general down.
ward march is now proceeding. 1t
starts with the speculative markets,
as it always does. 1t begins with a
good deal OF unnecessary violence, as
IL Always uptS' DuN II VIII piOCeeus
Industrial corporations have been
greatly aggravating the war-inflated
situation. SO many of them have
been declaring stock of dividends Of
from SO to 1000 per cent as to lead
the New York Journal of Commerce
tC speak Of the movement as a fur
cIe" and a fever" This is merely
another form of initiation. 1t is a
capitalization Of inflated prices and
profits. watering of stock, a multi
plication against no increase in prov
&c productive value OF paper shares
for public distribution through the
! stock exchanges.
Contraction will deal with this form
Of initiation as with other forms 1t
will not escape attention that the
] 1000 per cent stock-dividend concern
/ leads the way in be big market
/ slump. Contraction is dealing like
! wise with the patriotic southerners
who had planned to hold cotton off
/ the market until a price Of 60 cents
a pound could be exacted. Contrac.
1 ton Is working through the whols
towering superstructure of spepulatiy,
greed and grab in like manner.
There is no danger of great II
nancial panic as Of Old. The fedora
reserve svs-.m. with it's enlightened
m7u1aamaur and it's vast gold re
serves stands guard there But thos,
who have been blowing the bubble o.
. m7auon and faueu.ng upon the pop
uNr distress are in for a reckoning.