davidaulloa/AmericanStories huggingface dataset:
Grainger County news. (Rutledge, Tenn.) 1917-current, 1922-06-21

tion with this situation h the dIscov-
cry that there is tendency on the
part of Europeans to bring about
hitherto undreamed of method Of cor
recting the imitation. Many plans have
been suggested but none has been
found practical. The new develop
ment is one which. II IL continues win
tend TO correct the situation without
the aid of conferences or politicians.
The development Is hailed as re-
versal of Gresham's law. The fact
seems TO be that the people Of Russia,
Germany and Poland and some OF the
other nations having badly depreci-
ated currencies have become so dis
gusted with the nuisance Of dealing
with cheap money that they are bring
ing out of hiding their boards of gold
and other valuable money. A case
Illustrating this new development re-
Gently was reported by British trad
ing firm. This firm sold a bill of goods
10 a Russian dealer at Rostov. Pay
ment was received In miscellaneous
assortment of cash. II consisted of
American gold, checks drawn on
American banks, American bills of ex-
change, English currency and checks,
Turkish gold and checks and notes,
French currency and checks and Rus
sian gold rubles obviously, with the
exception Of the checks this payment
was made from good money which
doubtless had been boarded since the
war.
Agents of the American relief adj
mlnistration In Russia have reported
similar Instances of people bringing
out gold and other metal money. The
same is true in Poland, Germany and
Austria.
Currency Revolution Seen.
What economists see In this devel-
opment is the possibility Of a gradual
revolution in European currencies.
For instance, the Russians have dis
covered that their own rubles are
nearly useless but that they can get
big value for British or American or
other good money. Consequently they
will try to get hold of as much of this
foreign money as possible.
In early days in Europe this same
phenomenon occurred. Money issued
at the great banking centers OF Ven
Ice, Antwerp and a few other cities
came into general use all over Europe,
displacing cheaper native currencies
because everybody knew Il was good
money.
Recently, the United States treasury
removed the ban from the free issue
OF gold and gold certificates. 1t is
thought possible by economists and
students of international finance that
n good deal of this gold money, known
all over the world as being obtainable,
will reach the countries abroad having
deprecated currency and become pop
ular as a valuable medium of eX-
change This has not been possible
until the last few days because the
treasury and the federal reserve banks
would not let gold go into general cir
culation, but now 1t is possible for
foreign-bon Americans to get this
money and send it to their relatives
abroad
1t is recognized that this process of
substitution Of foreign money for the
deprecated native currencies would
be slow but some economists believe
that it is a possible but necessarily
slow solution to the European emer-
gency problem.
Grainger County news. (Rutledge, Tenn.) 1917-current, 1922-06-21
THE THRICE.A-WEEK EDITION OF
THE NEW YORK WORLD
In 1922 and 1928

Practically a daily at the price OF
weekly. No ether Newspaper in
the world gives SO much at 50 low Il
price.
The whole world is being made
over and the United States is taking
the lead in the work. This yea, par
ticularly, history win be made, and
every American citizen will be deep
ly interested. No other newspaper is
better equipped to give the news of
the world at a tine it is news, than
the New York World.
The Thrice-a Week edition of the
World is the greatest example of
comprehensive journalism in Amer
lea. 1t will keep you as thoroughly
informed as daily, which would cost
five or six times as much. 1t is a
unique newspaper, published three
times a week for 81 year. This is
the regular subscription price and it
pays for 1876 newspapers.
We offer this unequalled newspa.
Grainger County news. (Rutledge, Tenn.) 1917-current, 1922-06-21

yer Europe As the imitation pro-
ressed, people who had gold pieces or
liver money or paper money Of ma
ions in better financial shape than
heir own hid this wealth away and
lsed the more plentiful cheap paper
currency.
The extent to which European in
lation has gone Is notorious. The
European news cables every day say
something of the difficulties being ex-
perienced as result of the imitation
The Russian ruble and the German
mark are fav0rlte comic picture and
vaudeville theater Jokes because they
have become so cheap. II now costs
more than 100000 ruhles TO buy a
meal in Russia.
The German mark, which in normal
times was worth at what Is called the
par of exchange, nearly a quarter in
American money now is so cheapened
that you can buy three marks for an
American penny. The Austrian crown
has been as cheap as 1900 for 81. A
$40 bill of American money in Russia
would exchange for enough ruhles to
make what would have been Rus
sian fortune before the war
Trade, especially International
trade, has become very difficult under
these conditions. The problem of re-
storing these currencies to something
like normal value has perplexed Euro
pean financiers and economists ever
since the imitation started. 1t is one
of the big questions before the Genoa
conference which has been called to
solve European economic and political
problems. The United States declined
an invitation to this conference, part
ly because of the danger Of becoming
involved in so unstable a condition of
affairs as that created by the cheap
currencies.
Development Surprises Experts.
Now, the new development which
has surprised economists in connec-
Grainger County news. (Rutledge, Tenn.) 1917-current, 1922-06-21
EUROPE REDEEMS
PRINTED MONEY
Hoarded Stocks Of Gold and Cur
rency Make Appearance as
Exchange Falls.
MOST VExED WAR PROBLEM
European Countries Flooded With
Cheap Money When Emergency Of
War Compelled Abandonment
Of Gold Standard.

NEUTRALITY-SUSPICIOUS. of interna-
tiona1 finance and economies are
aware of new development In con-
neetion with the deprecated currencles
of Europe. These currencies have CON
stituted one of the most vexed prob
lens brought on by the war.
The need for greatly increased sums
of money, brought about by the war
cost, was met by most of the nations
by the issue of paper currency with
ont relation to gold reserve In nor
NAL times the paper currency of ma
ton has a definite gold reserve, gen
orally about 40 per cent. The emer-
gency of war caused the abandonment
of this reserve by all belligerent ma
lions excepting the United States, be-
cause the national treasures of these
nations lacked adequate gold to main
tain the reserve ratio. In the United
States the treasury and the federal re-
serve banks discouraged use of gold
and gold certificates for general eircu-
lation and accumulated the greatest
stock of gold ever assembled in the
history of the world It was with
drawn gradually from circulation and
piled up in the treasury and the vaults
of the federal reserve banks
An inevitable result of this policy
was that during the war and following
the armistice the European printing
presses, being definitely cut loose
from the retarding element of a gold
reserve, kept on running at high
speed, turning out reams of paper
money which went into circulation. 1t
4 Is natural rule. that the increase of
the supply Of anything makes 1t cheap
er. This is as true Of money as of
coal or potatoes. The result was that
this plentiful supply of paper money
made money cheap. In other words.
people who had consumable goods TO
sell would not exchange them for as
small n quantity of the cheap money
as of the old-fashloned money backed
by gold This meant-that prices rose.
The United States experienced inna-
tion Of currency but of a milder char
acter. The gold STANDARD was not
abandoned here. Prices rose in this
country 100 or 200 per cent in some
cases, but in Europe they rose thou
sands of per cent.
Exchange Hurts Europe.
A further result was that European
money. being cheaper and more plenti-
ful than American money, foreign ex-
change became unfavorable to Europe
That is, European money would not
r buy as much here as American money
would buy in Europe.
There is a law of economies known
as Gresham's law, which lays down
I the rule that where two kinds of
money are in circulation and one is
much inferior in value to the other,
the more valuable type will retire.
People who have it, believing it TO be
of greater value and therefore more
worth keeping. will hoard it away
This VAS done TO great extent all
Arizona republican., 1922-01-01

tn work of organizing the dairy, nay,
grain and other kindred industries OF
the valley and educational work is
now under way.
Among other aims Of the co-opera :
tive movement is the maintenance OF
an information bureau and a statisu-
cal bureau here. II is planned TO
have these located in a building
where all the offices of all the CO.
operative organizations of the valley
can be maintained. BY bringing all
under one roof, the expenses will be
reduced to a minimum. Each COM
munity will be represented by its
own sales manager and other indl-
vidual representatives, but there will
be a combined use of clerical help and
mechanical service which win effect
a considerable saving.
Through the statistical and infor-
nation bureaus any prospective pur-
chaser of land in the Salt River VAL
lev can get its complete crop record.
Having this service available, the
purchaser may know beforehand eX-
actly what he may hope to produce
on the land. The outsider may be
fully protected in his purchase
through this method and the integrity
Of the community will be preserved.
One of the very important move
ments now being planned Is the hold
| ing of at least two mass meetings
each year, where conditions may be
fully discussed and complete pro-
gram outlined.
Arizona republican., 1922-01-01
NOF|NER GRAPES
CROW ANYWHERE
THAN PRODUCED
IN THIS VALLEY
BY J. J. GOULD

Chairman Grape Growers Association
Judging from the words of encour-
agement given by the speakers who
made the Arizona Grape Growers as
sociation's recent twoday program
such a success, the Salt River valley
has great future ahead of it in the
production of early table grapes. Each
and ali of them agreed that we can
produce table grapes of uneXcelled
quality, and that our earliness would
enable us to get our grapes to the
eastern cities in time to obtain our
share of the first table grape mar
kets. Each speaker urged the strict
est adherence to uniform quality,
especially for a new associationsap-
pearing on the market, as our future
reputation would greatly depend on
what we put out at the start.
Anyone who has seen and eaten
our Thompson seedless, malaga and
cornichon grapes, which are our early
varieties, can appreciate what fine
favored grape they are. 1t is true
of our grapes as of our oranges and
grapefruit, that the sugar content is
apparent in them very early. The
pure food law says the fruit must
have a sugar content of 17.5 per cent
of sugar before it can be sold on the
markets. Our Thompson seedless
grapes have this amount the latter
part of June and can be ready for
shipment from the higher lands in
the valley by June 25. Following
closely on this variety comes the
malaga, that superb table grape which
was at one time imported into the
United States from Spain as fresf
Arizona republican., 1922-01-01
COOPERATIVE ORGANIZATIONS
GREATEST HOPE FIXTURE FOR
STAB|L|z|NG Of AGRICULT TURE

given better consideration because of
the system OF marketing it. Under
our cooperative system now belns
perfected the local cotton will bring
a better price and satisfy the trade,
as purchases will be made after ac-
tual inspection and grading in New
Bedford"
The urgent need of organizing the
dairy industry in the Salt River val
ley was emphasized by Mr.. Elliott,
who is now working with others to
perfect a cooperative marketing plan
for all those interested in this line.
"The dairy business has many prob
lens kindred TO the cotton enter
prises." he said. Right now the
business is being conducted along
very unsystematic lines. There are
more creameries trying to operate
than the volume of business justifies.
When more gins attempted to oper-
ate than could possibly do so at a
profit, the matter was taken up by
the cooperative organization and the
ginners were asked to close some or
the unnecessary plants. They com
piled, with results that were satisfac-
tory to all concerned"
To Organize Dairymen
Mr.. Elliott explained that until both
the producing and marketing end OF
the dairy business is better adjusted
here, several creameries should COM
bine IN one plant, continuing to follow
out their individual ideas OF prepar-
ing and marketing their respective
products under labels and trade
marks now used in order that the
various identities would be main
tained.
1t is also hoped that through a CO.
operative movement the dairy bust
ness will be so organized that cream
cries will confine their purchases OF
the raw material to their own natural
territories. At the present creamerles
are making long trips for milk, while
| producers which are closer to them
are selling to another creamery which
also makes a long haul AS an illus
| tration of this Mr. Elliott cited case
of a Tempe creamery coming to.Phoe-
nix for some of its milk supply, while
a Phoenix creamery bought milk from
farmer in Tempe.
"All this overhead expense must be
ultimately paid by the consumer,
Mr.. Elliott said. THE same condi-
tions prevail in marketing the prod
uct as in buying the raw material
Carloads of condensed milk are be-
ing sent into the Salt River valley
while other carloads of locally pro-
duced condensed milk are being sent
out of the valley. The freight is
charged to overhead, which the con-
sumner pays"
In organizing the dairy industry
into q cooperative organization, the
aims, as outlined by Mr.. Elliott, are
to reduce production costs, improve
the breed of cattle, eliminate unsani-
tary products, and guard against tu-
| bercular cows.
Plan Educational Campaign
Regular field service and an educa'
tional campaign will be inaugurated
Regular milk routes will be instituted
The farmer will deliver his milk to {
point on one of the collection routes
not more than one mile from his
farm. There will be regular inspec
tion service to guard against diseased
cows.
: The Farm Bureau has undertaken
Arizona republican., 1922-01-01

grapes packed in ground cork or
sawdust. Almost with the malaga
comes the cornichon, which is the
first large colored grape to appear
on the market. This grape is a fine
shipper, of fine flavor, hangs long
on the vine and improves by so do
ing, finally having a sugar content
of from "a to Is per cent. 1t has a
thicker skin than some grapes, also
clings we'll to its stem, which make
it an excellent shipper.
The almeria offers itself as very
fine later grape, being OF a greenish
white in color, having large clusters,
compact and of good flavor. Much
hope is had of the efforts of the de-
partment of agriculture of the United
States to develop both earlier and
later varieties than we now have.
In the Persian varieties they seem TO
have found both very early and very
late grapes, and while these are not
now available in any quantity, as time
goes on we will see some new varie-
ties on our tables that will be appre-
ciated.
Arizona can raise and does raise
the finest of table grapes, and there
is no question but what we can pro-
duce fine sun-dried raisins.
To DR.. FL. Crider of the horticul-
tural department of our state uni
versity we are greatly indebted on
account of the cooperation given in
instructions on the care of the vines
planting of the vineyard, marketing
problems, varieties adapted to Ari-
zona, etc. DR.. Crider has given much
of his time and thought to the grape
situation in the Salt and surround
ing valleys, and the grape growers
look to him for much instruction and
advice in the future.
1t would seem that this valley
should awake to the fact that it car
produce early fruit and vegetables
as no other place can. We should
Arizona republican., 1922-01-01

Through the CO. cooperative movement
farmers and stockmen some day will
he in a position to know at the be-
ginning of their season their total
cost and production and can gauge
with some fair degree of accuracy the
profits which may be derived from
their investments and labors at the
marketing time. This is the opinion
of f. j. Elliott, attorney for the first
successful cooperative marketing as
sociation In Arizona, and interested
in the formation of more such organ
izations.
Three major objects IN the cooper
Ative idea were explained by Mr..
Elliott as follows:
1. To obtain an average price for
q product by means of orderly sales
through the period of consumption
That this can be done is exemplified
by the CO. operative marketing plan
which California growers have car
rted out. There is very little fluctu-
alton OF price at any time on oranges
lemons, raisins, walnuts and other
products marketed through the Cali
fornia cooperative associations.
2. Improved purity in grade OF
product. Eggs from Petaluma, Cal.
are shipped to all parts of the United
States and are in constant demand
because of their uniform size and
quality. Sunkist oranges are all of g
generally recognized high grade. A
certain high standard for any product
can be maintained through co-opera-
tive effort.
g. To make the cooperative move
naent thoroughly representative by
Including consumers as well as pro-
ducers on the regulating boards.
To Eliminate Waste
Other benefits expected from
rightly functioning cooperative
movement in the Salt River valley
includes the elimination of waste anC
a rigid curtailment of speculation
1T is pointed out that as long as pro
ducers allow others to do their mar
keting, there will be speculatioS anC
detrimental price fluctuations.
"The ideal condition. Mr. Filiot
said, would be regulation of prod
ucts Of agricultural districts to NEE
the requirements of the consuming
public so there would be an ever
distribution throughout the year a
a staple price and never so great
surplus OF any one commodity t
cause a fluctuation."
This arrangement would be Of bene
fit to both the producer and the con
sumer as it would. stabilize the cos
ofsliving. This fact is recognized b!
the government, which seeks to en-
courage the organization Of producer
ass one solution for the present prob
lem of uneasy financial conditions.
From the War finance corporation
the local cotton association alread,
has received $500,000. This none!
has been turned over to growers ant
has given them sufficient financia
independence to protect their crop
against price slaughtering. The say
ing effected to date through the u.s.
ofsthis money equals the total ad
vanced. in the opinion of Mr.. Elliott
Value of Cooperation Proved
81 believe that under the presen
method of consignment back east, tn
long staple cotton produced in tn
Salt River valley viii receive price
on a par with Egyptian cotton" h
said. 1.-THE foreign product is bein
Arizona republican., 1922-01-01
BY Charles N. Morgan


Cooperative cotton marketing is
making remarkable forward strides
in the Salt River valley of Arizona,
but the comparative isolation of this
district and the long distances to
other agricultural sections has, at
times, a tendency to locallze our
viewpoints and to cause the local
grower to be entirely out Of touch
with events in other sections.
1t will therefore be of interest to
call the attention of the local cotton
growers to the conditions and the
| progress OF other cotton growing
states in order that the cooperative
cotton marketing movement may be
| better understood.
Oklahoma First
The first state to complete the or
! ganization of a cotton growers as
sociation along real cooperative lines
! was Oklahoma, and the man who is
| primarily responsible for the forma-
| ton of that association is Carl Will
| liams, the able editor of the Okla
| homa Farmer Stockman OF Oklaho-
ma City. His enthusiasm and Wis
| ion and his wonderful and enduring
persistence Is the real reason why
| the first cooperative cotton market
|
| ganized.
1t was a long, hard fight. The idea
Of applying the principles OF coop
| erative marketing was absolutely
| new to 80 per cent of the growers OF
that state and had never been done
| on a large scale anywhere and was
opposed with vigor by many inter-
| ests. Nevertheless, the organization
| oo,,, ,,,;tfaa otvooaada6 In nI1ftipnr AZ
over and wound up their compaign
with the enrolment of nearly 35,-
! 600 members.
Meantime Oscar Bledsoe, one OF the
largest growers of cotton of the Del
ia type in the bottom lands along the
Mississippi. and a group of his friends
were working on the same plan, us
ing the same general contract, writ
ten by the same attorney that wrote
the Oklahoma contract, Aaron Sa-
piro of San Francisco.
They completed the Staple Cotton
Growers Association of Mississippi
in May, and in the meantime the
movement, along identical lines. was
going strong in Texas, under the ef-
ficient leadership Of G. o. Moser
the secretary and manager of the
Texas Farm Bureau federation, and
Texas completed her organization
early in the summer. with about 40
900 members. the biggest organiza-
tion of its kind in the largest cottor
state.
American Cotton Growers Exchange
Realizing that it would be neces.
sary to secure cooperation on larg'
er basis than among the growers o.
a given state if the movement was e
be of the greatest benefit to the indi'
vidual cotton producer, Sapiro wrote
into the contracts for Arizona, Okla
homa. Texas and Mississippi and thu
others provisions for a national over
head sales agency.
The organization of the growers
into state cooperative marketini
agencies eliminates destructive In
dividuaI competition, but without
national organization there Nigh
still be destructive competition ant
Cutting Of markets through the com
) petition OF state organizations. Fo
this reason a convention to work ou
the preliminary plan for such an or
ganization was called in Oklahoma
! City last April, and w. S. Steven
( and Charles NJ. Morgan were sen
J as representatives from Arizona. Thi
convention comprised representative
Arizona republican., 1922-01-01

ship 10000 cars of table grapes in
1925; fully $500 cars of early head
lettuce, and $500 cars of cantaloupes.
There should be a steady flow OF
money into the hands of our farm
ers during every month in the year
California shipped 10000 cars of ta-
BILE grapes during the season just
past of 1921. We should ultimately
ship at least 10000 cars.
Our opportunities are before US
and by cooperation only can we eX-
pect to succeed as our competitors
have done. This great body of the
finest land in the world should raise
those crops that yield high returns.
We can never compete with the cheap
lands of the rain belt in raising grain,
corn, etc. When we consider that
there are over 100000 acres in raisin
grapes alone in California. nearly as
much land as is in the entire project,
should we hesitate to plant 10000
acres in table grapes? Along this line
let us say it is very important that
the association knows early the
amC of cuttings which will be
needed. as arrangements must De
made for these at once in order that
the cutting wood may be saved in
pruning.
Hearty cooperation has been given
the new association so far by the
California Associated Raisin COM
pany. which handles the crop Of
raisins produced by the California
growers. Should we be able to pro-
duce a fine raisin. no doubt this great
co-opera tive marketing organization
would be able to market our crop.
They have kindly loaned to us A. G.
Joy and w. A. Howard, who have
come over from Fresno and given us
much good advice and information.
A deep appreciation Is felt tor the
kindly good will shown, and every
one Interested in the welfare OF the
Arizona republican., 1922-01-01
PERFECT UTILITY SHEEP

1t has remained for the Salt River
valley to develop the perfect utility
sheep. Here the animal is worker
as well as food and clothing pro-
wider. Sheep are found very valuable
in keeping ditch banks clean. They
fatten quickly, and market is at
hand for wool and mutton. In ad-
dition half a million sheep or more
are brought into the valley from the
desert ranges for fattening and for
lambing. Some farmers find good
profit in fattening sheep on alfalfa or
on mixed rations.