davidaulloa/AmericanStories huggingface dataset:
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04

probation of the mark is soon re-
fiected in the cost of living.
The Collapse of Paper currencies
Included in the above-named
countries is much the greater part of
Europe, and it is important to know
what effect further changes in their
currencies will have upon their for
eign trade and internal life. They
apparently have not the resources
within themselves to enable them to
get out of the fatal cycle Of currency
initiation and currency depreciation.
A government must continue to func-
ton and must pay its way with some
thing. These governments do not
seem to be able to increase revenues
fast enough to catch up with the de-
probation of their curreneies and give
them a chance to stop the printing
presses. 1t must be recognized also
that there is a tendency for revenues
10 fall off in all countries, owing to
business depression. 1t is a question
whether any government in Europe
will pay its way out of revenues this
year, and not altogether certain that
the government Of the United States
will do it. The war raised the costs
of government as well as all indus
trial costs, and disorganized the en-
tire social and industrial system.
Inaation in the United States
Light is thrown upon our recent
bank credit imitation in the United
States by the state of currency ex-
listing in large part of Europe,
where initiation has continued until
the money is practically worthless.
Initiation is practically the same in
essence and effects whether it comes
through paper currency or credit that
passes BY means of bank checks. In
either case the mischief is done by
the increase of circulating credit
without relation to the production of
commodities entering into trade.
Imitation had its start in the United
States during the war, when great
amounts of bank credit were brought
into use for the flotation of govern
ment loans and in response to the de-
mands Of business, which was over
stimulated. After the war, following
Ave months of slackening demands
business was again ovSr stimulated
The demand for commodities ap-
peared to exceed the supply, prices
rose, more credit was wanted from
the banks, and the latter at FRS
, thinking it necessary to support tht
revival of the peace industries re.
/ sponded. It soon developed, however
: that the increase of bank loans wa.
/ financing a competitive struggle fol
t labor and goods and forcing boil
/ wages and prices higher, in the. sam,
: manner that issues OF paper lonei
: would operate.
= In other words, the increasing
= amount of purchasing power put iatt
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04


Munroe and r. E. L. McFarlin motored
in the country on a hunting trip Sat
urday afternoon.
Mrs. G. S. Cook left for her home in
Tallahassee after several weeks visit
with her mother, Mrs. w. NJ. Virgins
Mrs. William Schiller, accompanied
by her little son, William, Jr.. arrived
Wednesday from Morgan City, La, for
a visit with Mrs. Schuler's sister, Mrs
e. NJ. Collins.
Miss Caroline Graham and Miss
Mills, students at the Florida state col
lege at Tallahassee, spent the week in
Quincy as guests of Mrs. j. M. Marlin.
I. F. williams returned from Mobile
and other points in Alabama.
Miss Pauline FAINT. of Newberry s.
c., arrived in the city Wednesday. She
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04

is visiting Miss Paiine Hearin.
The new brass band organized by Mr..
AIurat in this city some months ago
made its first public appearance 80
strong at the entertainment at the
opera house Tuesday night and re-
ceived many compliments.
Cooper Johnson. Of this city. ana his
sister, Miss Eva. who is attending the
Woman's, college at Tallahassee, went
to Pavo, Ca, last Sunday and spent the
day with their father, W. H johnson,
in the town.
Paul. J. Nicely, of Summerdale. Ala,
was mingling with friends and attend
ing to business in Quincy Friday. For
many years Paul was a resident Of
Quincy, but left here last year to Jake
charge Of a larger tobacco plantation
in Alabama.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04
BY BILLY EVANS.

Is young Bob F1tzsimmons going to
be a chip of the old block?
Every fstic fan who has seen the
old gladiator in action. or read Of his
many valorous deeds, knows what that
means.
Bob Fitzsimmons is dead, but his
fistic deeds will live on forever. Nc
greater fighter at his weight ever lived
He feared no man. Even when he held
the heavyweight title he was a legiti-
mate middleweight.
The bigger they are, the 'arder they
fall"
It was the late Bob Fitzsimmons who
coined the phrase and lived up to it.
He was finally beaten by the younger
and stronger Jeffries. Father Time had
considerable to do with each knockout
suffered at the hands of the giant JEFF
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04
THE COTTON MARKET
NEW ORLEANS.


INV ORLEANS, Dec. .3.-The mink
bot worm was the main factor in the
cotton market today and on reports
from fexas that steps would be taken
to prevent the planting OF cotton in
infected areas next spring prices were
cent up for fairly wide gains. The
lifking Of the quarantine by Louisiana
lnB1 Texas on lint cotton, except
kk9n nom the infected areas them
Fe Was also regarded as a nightly
Ftahie development and it helped
the advance not a little, it being fig
ured that 1t would aid trading in spot
cotton. At the highest OF the session
prices were rs to S5 points over the
close Of yesterday. The close was as
gains Of p to u points.
January sold as high as 1872 and
closed at 1866.
Shorts covered In a large way, fur
nishing. a good part OF the demand,
but there was also new buying for long
accounts Of Importance and this de-
rnand became pronounced after the re-
Aceipt Of kilograms from Dallas, report
ng demand for spots for shipment
o Europe and claiming that it was
FAnost difficult to buy in the country be-
cause Of the firmness Of farmer holders
The weather map was considered
favorable as It reflected dry weather
"a an sections of the belt, which meant
that planting OF grain could go ahead
thereby removing the danger than land
would be thrown out OF grain and into
cotton.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04

loans rose to 51-2 per cent. The
shorter time maturities and rates for
merchants paper, however, showed
concessions.
Proceedings at the arms conference
exercised no visible effect upon the
markets for securities or commodities,
but a buoyant tone developed in the
foreign exchanges on the decision Of
the washington government to par
ticipate in the proposed reconstruction
OF international credits.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04

afV-~ UROPEAN currencies are near
IN ing stage at which It viii be
impossible to use them as media
of exchange. There is no we'll
defined line at the crossing of which
a currency becomes worthless, but
evidently it cannot continue to de-
pfeeiatc without reaching IN time the
point where the public will refuse to
give anything for it.
In Russia, the old unit, the rouble,
formerly worth about 81 cents, now
has a value so small that the old de-
nominations have long since passed
lentirely out of use. Even a thou
lsand roubie note of the new issues
will not bury anything. AS the de-
lpFeciation has progressed the denom-
linations have risen, 10000, $4,000 and
100000 rouble notes becoming the
lcommon change in use.
The Polish mark. nominally worth
l23.8 cents in money of the United
States, is quoted at .03 of cent; the
Austrian crown. formerly 20 cents, is
Ionly slightly higher; the crown of
hugo Slavia, which corresponds to
The Austrian unit. is worth a little
more, about 50 of a cent; the crown
of Hungary, of the same crown fam
hlv. is worth about one-tenth of a
cent, and the lei of Rumania, for
Imerly 1913 cents, is worth 10 of a
cent. These currencies are very near
Extinction, and live on only because
there is nothing to take their places.
IL is difficult TO see how business can
be carried on with them, and par
ticularly how any agreements for
future performance can be entered
into in terms of them.
Currency Situation in Germany
Consider, for example, the situa-
ton in Germany, where six months
ago the mark was worth lH cents
and even three months ago wa:
worth more than a cent, against Z
present value Of about IS hundredth:
OF a cent.
II IS true that the mark has not de
clined as rapidly in purchasing power
within Germany as in the foreign ex.
changes. The relationship between
Internal prices and foreign exchang,
Is indirect, but it is close enough L
cause a steady decline in the value o.
ghe currency for internal use, result
INC IN strikes and wage-adyancei
constantly. The most effective in
6ucncc for bringing the interna
gaiue OF the mark into line with it
val.,e N the exchanges is the cost o
food Germany is obliged to impor
vrain. meats, cotton, wool and othe
eeceesaries entering into commoi
eonsInption, and these imports mus
~ paid for ~ tine curren. rates. o
rxchanRc. Stree trade t. these com
nodities IS nov s.ee. the portions IN
!. oortsd tx the prices for the home
&rown SUPPLIES Is gc1, and e1e &C
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04
coTroNsEEp OIL

NEW YORK, Dec. 3-Cottonseed oil
was dull and easier under scattered
liquidation induced by tenders of 500
barrels on contract and the disappoint-
ing action of lard. Closing bids We're
8 to II points net lower Sales, 1900
barrels; prime crude, 5000. 90; prime
summer yellow, spot, S.15@8.4O; Janu-
airy, s.45; March, ST.; May. $50, all
bid,
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04
DRY GOODS

NE WYoK, Dec. 3.-Cotton goods
showed a softening tendency at first
hands in today's market. Yarns were
quiet. All staple lines Of wool dress
goods were quiet as were most of the
lines Of mems wear. Silks were marked
up following the rise in raw materials,
but demand was light. Burlaps were
lower with slightly easing tendency,
while linens We're steady.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04
cHIcAeo GRAM MARKET

CHICAGO, Dec. 3.-In fairly lively
session on the Chicago Board of Trade
today wheat registered net losses of
from SIS to "a cents in December and
May, and Of from Ia to IL in July,
the latter breaking sharply just at the
close.
Corn finished 1-S lower to s-s high
er, oats 3-S lower to LIS higher, and
provisions generally to lower.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04
coFEEE

NEW YORK. Dec. Spot coffee
STEADY; Rio rs, 91-s09 Santos
As, IL S-4012 Ia.
The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-12-04
Currency Initiation in Europe
BY GEORGE E. ROE

BY GEORGE E. ROBERTS
Of New DeonbeO
The Ontario Argus. (Ontario, Or.) 1???-1947, 1921-01-20
OWYHff.

Reverend Hpllenbeck, of Nampa,
the Cowboy Preacher, is conduct
ing evangelistic services at the school
house each evening this week. lie
mas with him, large charts which he
uses to illustrate HIS sermons. Con-
siderable interest is being created, a
good attendance being reported.
Joe Mendoza was business visit
or to Caldwell and Parma, Saturday.
Mrs. Friar's pupils entertained tie
upper room Friday afternoon when
they invited them into their room to
witness the dramatization of several
Mother Goose tales, Red Riding
Hood, Three Goats Gruff, Hansel
and Gretal, and Three Bears and
others. They were clevery and enter
tainingly dramatized by the young.
sters.
William Perkins was an overnight
guest at ilie E. +. Pratt home 1hurs
day, where he stopped With a butch
Of cattle he Is takilg to feeding
The Ontario Argus. (Ontario, Or.) 1???-1947, 1921-01-20

grounds in the Bend, f''m Vale.
Mr.. and Mrs. J. p. McGinnis and
family we're guests to dinner at the
home OF MIR. and Mrs. Alvin McGin-
mis-, Sunday.
T. NJ. Lowe has been in Vale on
Jury duty since Monday, Mrs. John
Wall and sons are staying with Mrs.
Lowe while he is away.
MIR. and Mrs. McGinnis motored
to Parma last Saturday. Miss Ruby
Wilson of Caldwell returned with
them for a short visit.
S. ID. Blgelow purchased some
pigs from VIM. Puetz, last week.
irwin wisner of the Dalles is Wis
iting at the home Of his daughter,
Mrs. Claude Smith and family where
he is feeding stock which he and
Claude Smith own in partnership.
+. l.. DeBord was a business visit
tor at the Gate City. Wednesday.
Rev. Hollonbeck and Mr. and Mrs
s. d. Blgelow visited the school Fri-
day afternoon. Rev Hollenbeck CIV
ing the children and interesting talk.
Among the pupils who are back in
The Ontario Argus. (Ontario, Or.) 1???-1947, 1921-01-20
OREGON SLOPE

The annual election OF officers OF
the Farm Loan Association was held
last Tuesday evening at the Park
school-house. The following we're
elected members OF the Board OF Dir
ectors; @. w. Lattig. l.. l., Culbert-
son, Chas Lias. T.. d. Frost and s.
j Simpson,
Last Monday evening Mr.. and Mrs.
s. ]. Simpson celebrated their ninth
wedding anniversary. Their guests
for the evening were Mr.. and Mrs,
o. c. Miller. Mr.. and Mrs. Roy Bur
rell. and Messrs. Culbertson, Lattig
and Lindsey. An enjoyable evening
was spent In playing five hundred.
Mrs. c. A. Karst was an Ontario
visitor Tuesday.
The Park Improvement Club met
at the home OF Mrs. Otto Melt
Thursday afternoon with a large At
tendance, Mrs, Samuel Applegate OF
Payette was a Club guest and gave
q very interesting talk on "The His
tory OF Dead Ok Flat Mrs. Camp
hell assisted Mrs. Meili In entertain
ing and serving a delicious lunch,
Mr. and Mrs. Harry Lattig were
very pleasantly surprised last Friday
evening upon returning home to find
their friends had a delightful supper
The Ontario Argus. (Ontario, Or.) 1???-1947, 1921-01-20

awaiting them. Those helping them
enjoy the supper and pass a very oil
jnyable evening weT9 Mr. and Mrs'
Ora wilkin OF Payette, Mr.. and MIS-
Walter Davis and family and Mrs.
y. n. Davis. and Mr.. and Mrs. C. A
karat.
Miss Gladys Franklin OF Ontario
spent the Neek end win her frlen l.
Mildred Frost.
Mr.. and Mrs Eldln Watts and
family OF Payette were Sunday
guests with Mrs. Watts sister. Ma.
Roy Burrell and family,
Frank Northrop was a Boise call
err Monday and will leave for Salem
Tuesday in the interest OF the Old
Oregon Trail Highway through this
section,
Mrs. Arthur Miller has been very
M but is improving at this writing
Drs. Alvey and Payne are attending
her.
Rev Move OF Payette preached to
large and appreciatiye audience
Sunday afternoon at the Park School
House. There has been no preach
ing services here for several weeks
The Ontario Argus. (Ontario, Or.) 1???-1947, 1921-01-20

school this week after having the
whooping cough are: Virgil VanFos.
sin, Jimmie and Wanda Hite, Dottie
Bell Cantrell, Laura Huffman and
Dalton and Erma schuler.
Mr.. and Mrs. Oce Schweizer and
baby daughter are visiting at the
home OF Mr.. schweizer's mother at
Roswell, this week.
Fred Klingback and son Kenneth
motored to Nyssa, Saturday.
Pat Connolly took herd of sheep
that has been feeding on the Pullen
ranch to the Bend this week.
VIM. Puetz was a business visitor
to Boise last week.
The infant son OF Mr.. and Mrs.
Henry slippy was very III last week.
but ia now some better.
Mr.. and Mrs. Claude Wilson and
baby and John Bigelow of Nyssa,
visited at the s. d. Bigelow home,
Saturday.
Mrs. ID. p. Pullen was quite III the
first of the week
Rev. Hollenbeck and s. ID. Bigelow
we're Nyssa visitors Monday.
Mrs. T.. F. Pratt and Mrs. Char
lotte McGinnis attended the Kolony
p. T. A. Friday afternoon.
Mrs. d. +. Kerr visited with Mrs
Chas. Bradley, Tuesday.
S. d. Bigelow sold fine dairy COW
to Miss Corinne Maxwell of the Kol-
ony last week.
Fred snlvely was down from his
ranch up the river Monday.
The Basque sheepman, famllarly
known as LEO" is feeding sheep on
the Charles schweizer ranch this
week.
Kenneth Mcdonald was an over.
might guest at the DeBord home Sat
urday.
Ed Tenhaves took load OF hides
to Vale last week
The Ontario Argus. (Ontario, Or.) 1???-1947, 1921-01-20
owing TO bad roads.

on Thcrsday Messrs. Jonas and
Lee Brown received the sad news
from Eagle OF the death OF their
sisters six month old baby girl.
Mr. aud Mrs. Jonas and Mr.. and Mrs,
Brown attended the funeral Friday
returning Saturday
The Ontario Argus. (Ontario, Or.) 1???-1947, 1921-01-20
C. NJ. Attobory was very pleasant.

ly reminded Sunday that he was six.
~ years old. Mr.. and Mrs. A. NJ.
Johnson end family and Mrs. ]. NJ.
MoGreevy were dinner guests OF the
Attebery family. Mrs, Johnson pre-
senting the honored one with a fine
birthday cake bearing sixty candles,
An enjoyable day was spent.
The Ontario Argus. (Ontario, Or.) 1???-1947, 1921-01-20

MAJESTIC ATTRACTIONS
Thurstiay-Only
OWEN MOORE in
THE DESPERATE HERO"
Enthusiastically
Universal Special
"BLIND HUSBANDS"
and Eddie Polo
Sunday-Monday
Marshal Nellan Presents
"RIvERs END"
Continuous Run Sunday
"Wednesday, Jan. 10
CHAs. RAY In
"THE CLODHOPPER"
MAJESTIC
Elko independent. [volume] (Elko, Nev.) 1915-current, 1921-06-04
FARM CROPS SHOW HUGE
SHRiNEZAGE in VAL LuE

TOPEKA, Kan, June 1.-Shrink-
age In values OF last. year's crops
stnl in the bin on Kansas farms
represent q loss GO approximately
SIS. .eae, coo TO Haasas farmers COM
pairing prices at present with those
prior 20 whom the slump set in last
fan. This figure Is based on a recent
report issued by J, O. Moher, secre-
tary Of the state board Of agriculture
showing the enormous amounts OF
grain tstill nnsold. 69f
On the 2s,s50.000 bushels OF wheat,
or ls per cent OF the entire lest years
crop, the price in the last six months
has dsteriorated on an average of 81
bushel; on the ss.S52,0O6 bushels OF
corn, Att per cent Of last years crop
still on hand, the price has Bhrunk an
average OF more than fifty cents, and
on the 93,92S 900 bushels OF oats still
IN the farmers bins, the price shrink.
age has been SO I-3 cents bushei--aIi
aggregate shrInAage on those held.
ings aloas Of SCI, ,52e 600 while the de-
creased value on other rstained= grain
crops would aggregate more than $40
100000 According to Esecretary A6oh-
elr. This does not take into aonsldeT-
alton tho decreaaas Ia prices on tho
grains marketed during the psst few
fhonths. SiE3
Elko independent. [volume] (Elko, Nev.) 1915-current, 1921-06-04
OPTION on Gil LAIM
IN EUREKA FALe|

The Ruby HIN Davelohsnent ct,.
pany, which has had an option.
the lslchnacnd- Eureka mines at iM
reka, sent word this week to their
representative, A.. Moore, to turn
ovsf TO the agent u the latter com.
panys aiI property ana naAterisi on
hand, sls the option would nut be
exercised.
The operattons OF the leasing com.
paay which extended over period. Of
1e m0nths. wefS, greet disapp6lht.
ment TO the people Of E1teka. The
property is equipped with a modern
and complete surface plant Of mach
inefy to nins 70 a depth OF 1000 feet.
AZ the time the psaperty weu closed
down, no preparaasna had baen made
80 handle water whiah came IN "a
tho f2aa foot isvol
Tie new o. sauy srsss 5 Dpss,
sesfet etassoa p6taD on baD ieel
Iss1l. and With ample nSakIng paoat
capacity, essanea owt tke Shalt to aess
bottom. ana ssSns .tse fI6K oe sataSs
20 be less fssn 90 sailSns PEI faln
ptS. aSeai caskfiird tao anDnnt shes
wers prepared 10 bnn6Ie. hut sf6n
ons capss and Anoshef, rimpins sat
hinlae operations wsss SO delAEei
Elko independent. [volume] (Elko, Nev.) 1915-current, 1921-06-04
CATTLE RUsTLERs
! IN WHITE pine

Sheriff Henry Nicholson and Hinder.
Sheriff Cheste. returned yesterday
after a fiye.davs f1;n. bnnttnp. ea.,,a.
rustlers fin the enntern mart of Z the
county. The cattle were stolen while
being d, iyen TO winnem;,cca> sifta-
wintering at Baker, says the Times.
1t appears that while the cattle were
being held overnight Mt ranch ID
Snake valley. four cows and seventeen
calves were cut out of the herd and
driven over the state line sbar,f,
Nicholson and his traIlers followed
the rustiers into Utah and recovered
the stolen, cattle nj Candy bnt the
rustlers hit the trail before the sher.
III arrived and are belieyet, To- be To-
Gated In Utah. 5ea -.
According to the reuort ~ the sber
If the men wanted have been iaenti
fled and sherisf Nicbolsops,est today
for a town IN Utah where Il is heltav.
ed the men are located JI5e vii, 90.
npsrato. with Officials ,oTar A. = .atate,
line md sprepare himself With er,ya.
l,dition papers to hiring the .sus1,oetr,
back to. EIy.s
The stolen cattle belonged 10 Abei
Brothers of Winpemucca and had WIN.
tered on the Baker ranch. willis. on
the drive 60 Wiunemueco the cat,lc
Elko independent. [volume] (Elko, Nev.) 1915-current, 1921-06-04
kFfiDl SGHB0L OF.
INDUSTRY CLOSES
lUhEElGHTH
Closing Exercises Founders
Day To Be Presented On.
Next Wednesday: Public
Is Invited

The closing exercises OF the Nevada
School OF Industry VIII be held at that
Institution next wednesday, June 8th.
in connection with the observance of
Founders Day. The program will
commence at three o'clock. In the
afternoon baseball and other games
viii be played and following the
games from untIl o'clock there
wiz be Inspection OF the buildings.
light rofroshments and social visits
At 8 O'Clock the program win be taken
up again with Swedish Gymnastics.
songs. etc. A brief history Of the
school win be given by members of
the BoaTl OF Control and by the Sup
erintendent, Z. ]. Milne, Dancing wiz
complete the evenings entertainment.
The public is cordially invited.
The grounds about the school this,
year are alone worth the trip out.
Under careful attention by the boys
at the Institution the grounds sur
rounding the building vim be amor {.
the most beautiful'in the state In an.
other two years. A long row OF trees
planted from the entrance to the
grounds to the terrace In front OF the
building. adds greatly to the attract
iseness OF the place. The. trees are
growing nicely. The terrace has
been completed and while the newly
seeded lawn has not yet appeared 1t
viii not be long before this expanse
of green is added to the extensive al
falfa fields on each hide of the boule-
ward leading to the school. The large
outdoor swimming pool Installed by
the state adds to the general scheme:
z The work Of the boys at the ingtit,a,
tion is deserving OF generous pat
ronage on the part OF the people Of
this city. Flko folks have taken
real interest So their sgerlE IoE scrae.
time past and 10 bring the seassn 70
= fealIS gratifying close good at
tendance should be forthcoming next
Wednesday. both afternoon and even
ing. ssa
Elko independent. [volume] (Elko, Nev.) 1915-current, 1921-06-04
= 8
ELleo W. NElLs IL ~
Tcla6nRcN PRe 6ys
ExckLLENT GAIT s.,

-As Eako. and Welb. hGS ali -
& teams Will CROSS bats tomo row -
I afternoon et two o'clock llhTp -
= on the R6lso Park. dian4nd. ~
- The eaine fromiss to Be zen .;
- worth sttsnding. Wells ~ re- -
- puted 10 hare an esDe6liIly -
- good battery and. IT'S fieldlng ..
- Is said to be OF the snappy knd -
- that warns the heart sof The. =.
q baseball, faR.. The EIko boys -
- have practiced faithfully dusing .,
- the past week and, are round =,
z Inc. into champiouship 66En. ..
- Manning win start the Esme =.
- for Elko with. Blackgood caich. ..
- Ing. Hoyt viii play at flfsk. =,
- Garcia second. McBarlane, la; ..
- Ryan third, Merithew, IT., wits q,
- CT, and Scranton RI. .
- Admission to the game IS III .,
- ty five cents, including warstax. Q.
= The game starts promptly at 2 .
= o'clock. The team deserves The .
- united support Of every faa IA -
= the city. Give II 10 the, Boys -
- tomorrow. S o