davidaulloa/AmericanStories huggingface dataset:
The Connecticut labor news., 1921-03-25
Real and Financial Credit

Real ana F1nanc1al CreQ1t
 The district clothing bank would deal in credit of two kinds-real credit and financial credit Real credit depends on ability to produce and deliver and on consumers anxious and able to buy the things produced. Real credit belongs to the community, since producers and con- sumers equally own 1t, and they form the community.
 depends on the delivery of money ob- tained' from consumers, and only second arily on goods needed and deliverable If financial credit is multiplied so fast that consumers cannot pay all the cash 1t requires, 1t fails to discharge it's func- tion, that of setting in motion and direct ing the delivery of goods they need.
 Moreover, if the banks issue 1t for the monopolistic production of fewer goods at high prices, real credit, de- pending on absolute capacity for SUD- ply and absolute demand for goods, is shut off. In both cases the community suffers as now 1t Is suffering Private persons control and restrict the real credit, which belongs to all.
 One of two main ways to redress this disturbed balance, Dougals and Orage teach, Is to treat the mass of workers as the producing community and owner of real credit
 The plan prescribes that the clothing industry pay their wages and salaries i'll lump sum to the bank, giving each checking account for the sums due each. The bank would be theirs-one man, one vote for its directors
 Its function would be to finance the clothing industry, issuing financial credit 1,,1,o l,o ability of the workers to produce cloth ing, combined with the need of the pub lie for clothing.
 Providing for Expansion
 With the stream of wages and salaries flowing through it, the bank would al ready have financial credit It could issue yet more financial credit, tre- mendous amount, in precise proportion to the real credit Wielded by the work CTS This proportion is directly as the sum of wages and salaries (the workers return on investment of their life and labor) is to the sum of dividends (the return on the owners investment in plant and materials).
 For future improvements and exten- sions in the clothing industry-exten- sion of wool and cotton growing, new mills, buildings, machinery, retail stores the district bank would issue financial credits in the ratio of total wages and salaries to total dividends.
 The clothing industry, like all other industry since the war, needs a lot of new financing, but the owners of plant and materials cannot now command the financial credits needed In these dis trict banks would be found new reser- voirs of credit, issued without interest the bank itself pays no dividend-and balanced by the real credit of the pro- ducing forces; the token of which may be expressed in the due ratio of new stock at par, guaranteed, say, at six per cent. deposited with the bank to the workers account.
 The old capital, meanwhile, would be
The Connecticut labor news., 1921-03-25

societal dividends" on appreciated values awarded with each purchase at retail, lowering below commercial cost the cash payment required
 No Confiscation of Property
 The transition from industry Fin its death cramps" Douglas thinks, could be effected without attack upon property as such or upon the rights of property.
 No conhscation is implied, nor any violent seizure of industrial control. No sudden or difficult transformation on the part of the state is presupposed.
 The main trouble with profit and dividends is not that they exist, but that society in an age of wonderfully faCile production seems unable to distri- bute the profusion of 1nachine-made goods successfully unless everybody draws dividends on this facileness-has a stake, i'll short, and becomes Wielder of credit and an owner.
 The joy of creative activity is great. It may well be its own reward. But men in collective industry, Douglas re- marks, associate together ''because they there Is an unearned increment in aSso- ciation its leverages lessen work, and, inevitably, produce profit, which all should reap.
 Suppose we explain the plan by showing how it might be applied to the producing workers-the producing com munity-Say, in our clothing industry:
 First, the national clothing industry would be divided into districts, each self governing, not in policy, but in admin istration. Every great industrial con- cern would come to this districting busi- ness in the interest of local manage nent. The district clothing corporation would amalgamate all branches of the local industry, producers, middlemen and retailers.
 Each district company will do its own banking business. As a producer of wealth it would represent the govern strictly within the clothing industry, and c1no-a
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Auction Bridge
By r. F. Foster
Arthor Of Foster on AUCTION, AUCTION l1doas Easy,
Fosters Complete Hoyls, ETC

bid. The other is when he will have
to overbid his hand or pass.
With regard to the first position
there is nothing to say except to call
attention to the possible changes III
value Of high cards in certain suits.
A king guarded in the suit bid on
the right is a pretty sure trick, for
instance; but king guarded Of the
suit bid On your left is not worth
much.
Aces and kings of suits bid by
others, or denied by your own part
ner, lose their bidding value and de-
cline to defensive value only. The
dealer bids blind, knowing nothing
about the distribution of the high
cards in the various suits outside of
his own holding; but the moment va
rious suits are named certain values
in those suits are established. For
example, here is deal in which
certain values are attached to high
cards for bidding that must be re-
considered in the light of other bids:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

z dealt and bid club. Counted
according to modern methods, the
suit is worth four tricks, if clubs are
trunps. A bids spade. His hand
appears to be worth six trick values
-four in spades, ere in clubs and
one in heats. The club king is
good On account Of its position.
But Y bids two hearty and e
passes, refusing to assist the spades.
This at once reduces the value Of
AS hand to FIVE at the most, which is
not enough to rehid the spades VIXEN
bis partner refuses to assist him. If
A gives up the contest for the play
Of the hand and passes Y's two-heart
bid, his hand is reduced to two values
in spades, che in clubs, nothing in
hearts. That is to say, it is good
Tor three tricks only in defense; but
i his partner can win a trick any
where that saves the game; there
fore, A let's Y have it at hearts.
The count is justified by the play,
as 3 shows his ace-Ang suit before
leading his partners suit and ruas
the third round Of spades, saving
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

looking -oung man whom women
thought beautiful, and who was SO,
IN fact, in the sense in which certain
types Of Engl;shmen are.
They are going to dance" many
Of the onlookers whispered to one
another. And at once the conclusion
was drawn: at will be match"
Then, naturally, came the criticism :
ITO talk from childhood about be-
coming nun and to end by marry
ing protestsnt-that IS going it q
little too st<cngw
But they didn't dance. Side by
side they mounted some steps which
led to sort Of terrace, from which
there was clez- view across tbs
country to ths western horizon. They
could be seen leaning shoulder: to
shoulder on the halustrade, talking
together, while their gaze vas lost
IN the infinite spaces above the park.
now golden n the sunset.
But who among the curious throng
below could have suspected what
they we're talking about?
Il believe I understand why you
came to-day" " said Patrick, in his
perfect E,eaela, with just charm
ing tnge Of accent. 1Thss last
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

dummy cannot make any mistakes, It
cannot play cut CT turn.-E. Nee.
A.swe--The play Of the seven must
stand il the dscla-e- has touched tbs
card. This habit CT playing cat Of
turn from dummy IS very cor.yncn ard
deserves to lcss occasionally It saves
no time and IS usually just display
Of smartnsss.
Cuest!cn-The contract IS nc-trumr.
The dec!arer wins four tricks only, but
detects 2 revoke, for which he takes
two tricks penalty, leaving him only
ere down, SO that his opponents scoxe
only so instead Of $50. Is not this
just the same az if he had taken 100
points instead Of tricks and let them
score their $50 for setting him three !.
Mrs. G.
Answer-The rsvoking side cannot
score anything except honors as held,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Mrs. SCHUYLER N.
~ WARREN, vdce-cha5Y-
man

together al. Of tt....s citizens Of -e-
public r. ore grad mass meeting.
We ca:..ot II tA.:ssage repeat TIE
assemblies OF tie Creek states CO CO
TIE New England tows.. Some sub
st:tuts must BE supplied.
And SO We are establishing =
Tow: Hall to keep alive tie sp::.--::t.
Of Cur ancestors a-5 as q cc..t--;;5u-
ton wh:ch will better enable US &c
meet TIE vital, e rot epoc.z,,
c-~!!sss whsch modern world co.d.-
tons are bound tc produce.
- "a single Town Hall can hardly
s!l the need Of this great city. i
contains, however, the germ Of g..
idea, and we hope It will be the
model FOR other similar institutions
-sot only throughout this city, but
also throughout the land"
a Place for Discussion
Other speakers fer the opening
week include the Hon. Henry Nor
genthau, the Hon. Alton 8. Parker,
Professor Samuel McCuns Lindsay
Frank a. Vanderlir, Otto H. Kahn
and the Hon. George II. Wicker
sham.
While, the main purpose Of the
project Is to stimulate ar open
forum 'for discussion and the mold
ing Of opinions, the building is
equipped to serve in various capsci-
ties. A political science reference
library, a bureau OF information
and sfrisrdly service. clubroonss,
dining rooms and lounge are
among the appointments.
To-conforns With tbs original New
England town meeting halls every
thing about the new building has
been made to harmonic With the
early Colonial period, both II the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

to the death tc ny owr religion. The
cloister-it IS really q dream"
They were silent. Below the el:e-
trsc lights Were being turned or and
the waltz had stopped. The sound
ct laughing voices came Up TO then.
Turning away again they leaned
CT ths balust-ads and watched tss
disappearing sur.
Tomorrow" he said softly, - .
n farewell.
She answered, With exaltat!on:
God Will aid us both j.. cu- task
They locked at each other scarce
ingly. There was nothing more 70
be said. They had reached Al VI.
de-stsnding beyond the need o
words Sersrhic, intoxicated, tsss
felt ready 70 sy away tcgstsss o.
wings invis!bly opened.
That is why, as the music '5sgas
again. they cescsrdec 70 re VIZ
below 2ad danced. Their wsltz, =
truth, had nothing human sbcus i
Like that Of ths Oriental dsrvsEs'
It reproduced tie rsyrh:r Of sas
sta-s-aThe movement which psease
God"
Now, who knows, # IN this N.Y.
teal moment, misunderstood cy y
scandal.zed orlocke-s-whc knows :
the breath Of love, Of divine sr'sl
love, didn't touch them, stirring =
unsvowed regret, as w-ercnsrg - :
was magnificent, for hsprias
wh,ch was almost theirs!
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

II TAVING analyzed the various
plays that are open to the
defense in their efforts to
save the game or set the contract,
one should be in better position
to form some idea Of the proba-
bility of winning tricks with cer-
tain combinations Of cards. With
this knowledge as a basis for cal
culation, one should also be in a
better position to Judge the advisa-
bility of bidding against the declara-
ton, as we'll as playing against it.
There are many hands in which it
is clear that the player on your right
cannot possibly go game on his con-
tract. The question to decide then
is: Can you go game if you bid
against it? Or, can you bid enough
to drive him beyond his depth with
out going in too deep yourself,
There are many other hands-the
majority, in fact, of all held-in
which there IS no telling what the
opponents can DO on their bid, ary
more than what you might be able
to do on yours if you started some
thing. a bid having been made, let
US say by the dealer, if you sit sec
ond hand and have anything at all,
you must take this opportunity to
show it, while it is cheap. This does
not mean that you should bid on
hopes, but it does mean that you
should not be afraid to oyerbid YOUR
hand a trick or so more than you
would as free bid. You are in .
light for the contract and must do
the best you can with what you have.
Probably the greatest fault with
the average player is being too
anxious to bid when there is no dan
ger Il he keeps. still. ] have found
it one OF the most difficult things to
get pupils to ask themselves this
ouestsan: "Can they 60 game on
their contract?" If not, let them
play the hand rather than risk being
set two or three hundred by trying
to take the bid away from them. For
example: They are bidding dia-
nonds. Can they make five-odd?
az that is highly improbable. whv
keep on bidding clubs when there is
not the slightest chance Of game in
that suit?
There are two positions that Sec
ond hand has to meet The first is
the simple one Of making = bid that
be would be quite ready and willing
to make if nc bid had been made BY
the dealer. such as a spade over a
heart, when he has a legitimate spade.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

poise, shook hands all around and
smiled at everybody. Her nlelar-
choly eyes seemed more beautiful
than ever. The luaeu-iousness of her
white gown astonished the company.
After few minutes the fets re-
sumed its usual animation. The
guests presently LETT the tables and
the music began.
Marguerite de Larvois took seat
beside her mother. Her sister and
brother joined the dancers, but she
held aloof.
1t goes without saying that the
tango was unknown IN Lady Eli
vanss house. The waltz and the
Boston were still modern enough
far her.
The piano and the violin blared
forth. The walters, IN blue, rose,
n.auve, pale yellow and white, With
black splotches made by the mems
smoking jackets, fitted past Mar
gue-ite de Larvois. But she re-
NAMED enign,atic and calm.
Then she saw some one approac Oh
and stretch out his hand as if in
viting her to dance. It was the
blond Patrck Erl!van, q dreamy
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

glimpse of the world before tie great
departure is bit cf ,rc.y rot With
out its elegance as well as its ne!sn-
chcly."
She was astor;shed.
But" she began, little mimi
dated and distant.
Let me- go or" he broke r.. 'sI
asked you, as they say, to sit out this
dance and you consented. So you
must know this evening that un-
dsrstood you. We shall never see
each other again, but It cannot CT
Tend God that we have had little
talk. ycu are going into the Acon-
vert, c.adenoisel.e, ard I lit is a
secret which you will be the first to
Eow) have decided ;--evocahly to
become minister. It is a parallel,
al the same, IN spite cf the differ
ence II our religions; Tor 7 believe
THAT Ne are both guided By the sam.
aspiration. Don't you think so, too?"
She looked st him with her big,
clear eyes
'ohl" she said, "a minister"
She thought. second, and added:
y admire you. It ought to be dit
scult to remain in the world, after
tkot"
He smiled ecstat;cally. Re realized
Sc well what she meant by ''.kc."
Eyes" he sighed. "Ard that IS
why ! envy you--I who ar attached
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

the game. 8. had also calculated
that it was not necessary to run any
risks bidding against Y, because if
a had two tricks in spades and 3
two in diamonds, Y could not win
the game in hearts.
Here is the solution Of Problem
No. Sc, prin.ed last week, II, which
hearts were trumps, Y to lead, and
w to get six tricks.
z starts. with the club lack, and
whether A covers it or not, Y trur,ps
it. w then leads the spade king, on
which 2 discards the ten Of dia-
monds' The next lead is a TRUMP.
and 2 puts on the ace, leading an
other trump, which A must win,
while Y dsscards q diamond. Now
z must make two trump tricks and
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
ew York, Emuatng New England, Now Has Town Hal
A Temple Where F rec
Speech May Find
a Home

A T LAST New York City has
caught up with the provinces.
It has Town Meeting Hall
all its own.
For years Dorsett, Vt, Oxford,
Ne, Forked River, N. j., and other
truly rural communities have grinned
in good-natured scorn at the big city.
No Town Ha!l-gee, what town!
Perhaps New York did have 3
Madison Square Garden, "a few hun
dred theaters, fifty balloons, two
skating Kinks and Central Park,
but where did they get of, anyway?
Gee whil;ckers! 70 Town Hall.
Nothing Like It Here
It has been source Of great cha
grin to millions Of New Workers. to
admit the appalling deficiency to
their country cousins. On vacation
they had to sit back ard view the
pride Of Pr;de's Crossing and con-
fess there was nothing like it at
home At times it was bitter pill;
for a born to the pavement New
Yorker likes to believe IN the supe-
rior!ty Of the metropolitan district.
But as the days went by AID the
town authorities didn't do anything
to fill up the awful gap. a little
group Of public-spiSted citizens took
matters into their own hands. With
out aid or. encoura g.nent, or even
the sanction Of the Mayor, they
launched private enterprise to put
New York back on the map. They
gave New York Town Hall. It
cost more than million and quar-
ter dollars, which should silence any
unkindly criticism from the hick
towns.
The Town Hall was built by the
AC0S VIC lOl i OIlt1SdA 4JQuCdI1O11 G11O
its allied organizations, the Econom-
les Club, the Civic Forum and the
Town Hall Club. The Societies
Realty Company, Of which Frank A.
Vanderlip is president, was organ
lied to act as holding and operat-
ing company for the erection and
maintenance of the civic auditorium
at 1923 West Forty-third Street.
4 Housewarrning
The hall was opened to the public
last Wednesday with appropriate
ceremonies. The housewarming fes-
Invites continue until January 1s,
with receptions from to 6 o'clock
in the afternoon and public meet
ings each evening, with representa-
tive speakers.
Mrs. Charles B. Alexander is
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

T WAS one Of those ancient cha
teaux, which, still erect and
massive, standing in q country
side equally unchanged, recall the
days when medieval legends were
still honored in our venerable land
Of France.
Nevertheless, automobiles buzzed
and footed around it and the large
British family which occupied it
every simmer and autumn led life
in it which was eminent!y modern.
Tennis, canoeing, motorcycling and
similar sports occupied the young
people, and had it not been for the
distinction and elegance of the older
girls and the married women no
trace Of fairyl.nd would have been
left IN that country Of the past.
It is certain that wonen's clothes,
even those Of to-day, add marvel
Gus touch to any background. The
expanded wings Of sashes, the COM
lrFs and goings Of many-colored
sweaters and white skirts filed the
park and its romantic river with
very gracious. movement and color,
IN default Of more picturesque and
mysterious attire.
But the most beautiful spectacle
for which the cld castle grounds fur
n.shed the setting was the Thursday
the dansant which the English
lessees gave to the rotabilities Of the
reigaborhocd. The latter came each
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

week from! the nearby n.anors and
villas and even from the more dis
tant town. It was reunion Of Door
country sauires ard rich industr,als,
to the latter: Of whom an invitation
from Lady Ellivaa represented al
most a patent of nobility.
Lady Ellivsn, the grandmother CT
the family, understood, in spite Of tbs
rigid Professionalism Of her race and
family, that youth must be amused.
and also that the best place to smuse
it is at home.
Nothing was SO gay as the Thurs
day entertainment at the chateau
yet nothing was in better form.
On this particular Thursday, ths
first Of the autumn, the guests we're
Just seating themselves about the
tea table when they were surprised
tc see the Larvois family enter
father and mother, two daughters
ard son.
For weeks they had been absent,
and every one within FIVE miles knew
the reason. Marguerite de Larvo.s,
the elder daughter, was on the point
Of leaving home to enter convent,
having been destined from early
youth to be Carmelite nun.
The appearance of this beautiful
young girl, vowed to the Church, in
terrupted all conversation.
"Can she have renouncsd the cor
vent?" they al thought. .
But the young girl, with perfect
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

no matter how many tricks they set Tie
contract. = tbs, tricks will net wiz
tie game, THE dec1are- should tax.
ths points. This will give him 50, IN
der the new laws; his opponents moth
ing. You forget that tbs revoke penalty
is now only 80 points, ss we'll a. only
two tricks.
Qusst!on-A LEAD. sm.M club, out
Of turn. The dsc!sre- call: on 3 to
lead club, and demands the play Of
the exposed club 70 ths trick A re-
fuses, saying that if the declarer calls
a suit the card played in error can
be taken up.-M. 2. L..
Answcr-A is correct. TIL. declarer
cannot impose two penalties for the
same offsnse. He hes made big choice.
EUCHRE
Questson-Ths dealer turn. up the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16
Building To Be Open
to Any Public
Enterprise |

style Of architecture and IL =, :,
ts-ior Furnishings. Tia general = =.
tsroc IS C caen s.oae N b,acs ~
w:tA TIE decorations Of nos. ~.
gold.
TIE main auditorium ha.
ing capacity Of 1.7cc. There !. ~.
one balcony, VIII. row q l,...
i. front. TIE acoustics are s.;s :.
se as perfect as those r. tie .a-,,.
tabernacle at Salt Lake City. xs.,.
p. drop nay be heard al ora
tie auditorium. TIE laA Prof.,
SCI Sabine, q Harvard us:yerxi.,
foremost expert - America :.
acoustics, was TIE authority whs.s
ccu.seis were sought and eonouss
c. this point.
There Is &c standing roo.. 9. u.
c.a::- eoc-. TIE doors ron ~,
foyer open directly 9. tia a;sls.
TIE promenade g lack Of tbs b.,
co=y. Two ..oacG.:ta!c Columns ,do,-
the foyer, although tablets ce-.
=: ::::ss:::::o--2..::Hg TIE founders Of +Ls
League ana Other pus,:c citizens a..
&c Be installed later.
N.Y. uc:cr uccs.ve,.
Or tie exterior .. TIE bu:.a:,.
s--c,...ed inches Lave been rsss-v.s
11o- tvs sss..ua--y sgu-es, s,,.aousa
i Las rot yet 5ee. decided vs.
shall be represented. BENJAMIN
g g.-aa:sss. AID Theodore Roosevelt
Lave both been suggested. It
quite likely that Roosevelt will 81
ore C TIE places.
TIE property wss purchased for.
yea--s ago, bit ths building ru
postponed u..:t:l after he war :,
comply With TIE government. Re.
quest to -estt-c. unnecessary opera.
tens. Actual construction was Be-
gr- - July, 1919, ard was 70. corr.
c,sted until Just :. tina &c. tie
opening.
Frank \. va"ds-isp, w!.o had
charge Ct TIE general d.-ectc. q
the enterprise, lad as h;s assistants
MIS-. Henry 4. Alexander, Mrs. A.
4. Anderson: Miss Charlotte s
Baker, Mrs. William y. Bliss, Mrs.
E. F. I. Gould, Ms. Theodore
Peters and William, f. Willccx.
Henry Y. Taft vas chairman q
tbs committee Of arrangements. az
sisted by a. Barton Hepburn, Henry
Mcrgenthau. Frank 4. Vanderlip.
Mrs. Henry 4. Alexander. Otto +.
Kahn, Morgan J. o'Brien. Robert
Erslane Ely and Mary 3. Cleveland
The League fer Political Educa-
ton, which created the Tow. Hall.
was founded twenty-six years ago
largely through the initiative Of
Mrs. Henry NJ. Sanders ard hall
dozen women sympathetic With her
ideas. Mrs. Sanders died IN 1905,
but the league has beer guided BY
the ideas which originated With her
The league now has 2 membership
Of 5000; with Henry Morgenthan
as president.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-16

: callsd a.s dsuc. &c represent. e
nc calls & the club zee. his arsh is
clearly sc.-ace ..gh, which beats see-
king .igh Hus.. TIse fact that sss
ths natural ace ct cluhs :. .!s hs.d
makes no difference, as the deuce ray
be called anything. ard &c natter whst
It IS cs.lsd. there must bs durl!csts
cf !! somewhere.