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Show Page Two . THE MIDVALE JOURNAL • By ELMO SCOTT WATSON ,__..,. T IS hereby predicted that on and after· July 1. 1929, the American people are going to become very much interested in collecting portralta of the great men of this ll'lltlon and that. of tbem all, the portraits of the eleven notables pictured In this article will be tbe most In demand. For, on that date the United States Treasury wlll begin liiSulng the new reduced 1lze currency upon which ,these portraits will be the distinctive mark of the various denominatloml. The following table Is a "Who's Who" of the D.i!W C1Jrrency. I as the old size cramped ·the teller's hand. The new money will not require such a laFge pocket bill-fold and already new blll-folds are being manufactured which will hold tlle new currency without folding. The advantage of this Is that the money will be kept flat and w111 last longer, since it is at ·the point of folding that bllls break ·and have to be replaced. In general appearance, the new mon&y will closely resemble the currency now in use but It will have • distinctive feature, consisting o! localized red and blue fib~r incorporated tn the body whHe the process o! manufacture so placed as to form partlculnr 8trlpes. In the past the portraits on the currency of the United States have been ULYSSES S. GRAN T .I> ............. There ls a very dethiite reason for having a dlstlnctive portrait on each of the d11rerent denominations of lilins. It wUI make each denomination easier to recognize so that there wUI be !ewer mistakes mll'de in making change and you are not likely to hand somebody a $5 bill or a ten thinking It is a one. At present we have eleven denomlnatlons made In 89 dl.1ferent deelgns. There are five kinds of $10 ABRAHAM LINCOLN bills. The new currency will have only one. At present the face of vv~shington Is on both the $1 and $20 bills. On the new currency Washington will appear on the $1 alone. Under the old system of currency It was possible for counterfeiters to raise the ones t9 twenties, since both had Washington's portrait on them and only the figures needed to be changed. In fact, tne adoption of the distinctive portraits and characteristic embellishments on the back of the new bills will be the best guard against counterfeiting that Uncle Sam could possibly have. So if you will memorize the portraits as they appear on the bills of the different denominations you cannot be short-changed and you will not be so likely to make mistakes In making change yourself. But there are several other reason& why the reduction of the size of the present bills, which are seven and seven-sixteenths by three and one- nation which will be used oftenest by the most people, is not only a natural tribute to the first great American but it is also a reminder to us that it was durlng the administration ot the first President that our monetary system was established. Similarly the portrait of Thomas Jefferson on the two dollar bllls and the portrait of Alexander Hamilton on the ten dollar bllls remind us that they were members of Washington's cabinet, Jefferson as secretary of state and Hamilton as secretary of the treasury. Although Washington had great difficulty In preventing political clashes between these two members of his cabinet because of their views on politics, both of them were intimately connected with the establishment of our money system. It wns .Jefferson who found- those of men who were more or less intimately connected with the development of our monetary system. This tradition Is being carried out in the new currency. Although the men who are pictured thereon frequently held positlpns in regard to currency and other problems which were widely divergent at the same time, all of them had something to do with the evolu· tion of our money system. So the next time one of the new hundred dollar bills comes Into your possession and you look upon the benign countenance of Benjamin Franklin, It should remind you that Ben's advice to you would be to save that hundred dollars rather than to spend it. For Franklin was the first apostle and exponent of thrift 1n this countr.v. More than that, Franklin's name Js 1nseparably connected with the financing of the movement which BENJAMIN FRANKLIN ALEXANDER HAMIL. TON ed the American system of coinaq,e based on the decimal system as a substitute for the more Involved British system. So when we find it easy to reckon our accounts by the simple knowledge that ten cents make a dime and ten dimes make a dollar, Instead of having to struggle with involved calculations of pence, shillings. and pounds, we can be grateful to Thomas Jefferson. In view of that fact it may seem to some that we are showIng ingratitude to Jeffel'son by placing his portrait on the two dollar bills which by some people are considered "unlucky bills" nnd denomi· nation to be avoided. Hamilton Is credited by most historians with being the founder of the fiscal system of the United States, and ts frequently referred to as the first nnd greatest secretary o! the treasury. Certainly, It took a man of genius to take hold of the financial will JAMES "MADISON the confldenee 'of the lenders in him, that rarely if ever were requests for loans, in which his name was used, denied. Tire face of George Washington on the new one dollar bills, the denom1- Stupendous Increase in National Wealth stitutes Peril to State making green-backs legal tender, and his name has come down In blstor;y a.a "the father ot the green-baclt." The appearance of Ulysses S. Grant on the new fi'fty dollar notes is a tribute to his fame ns a soldier in winning a war which saved the nation, rather than a monu~nt to his con· nection with national finance. For the !act Is that Grant would be the last man in history to be designated as a financial genius. A failure in business in his early life, his financial venture wltb a banking firm in his later years was a failure and be was left pennlless. But there is no greater example of heroism known than the way in which Grant met the problem of family finances at this time. Bankrupt, crippled from n fall, dylng of cancer of the tongue, he dictated two volumes of memoirs, when to speak meant agony, so that his fam- I ' Americans are living in the golden age of finance. Our eno*tlOU'" wealth and dominating influence of t~• present time may tend to weaken the sturdy citizenship of our forefathers and become a peril to the state. Our plain living in Colonial days is rapidly being superseued by waste and extravagance. Our background was adversity; our future is prosperity. Let us never, therefore, overlook our priceless heritage which has been handed down to us through the great sacrifices of those who preceded us. We are now embarked upon a new period of overseas expansion which, we believe, will be for the further development of our foreign trade and a better understanding with our neighbors. In our rapidly expanding trade relations, may our merchant marine bring back from foreign shores not only the gold of Ophir, but~ those more important things in life, namely, good will, a good name anrl a reputation of fair dealing with our neighbors beyond the Atlantic and Pacific. Today, our great financial system rests upon a solid rock of.-.gcrli. The Federal Reserve system, which was enacted into law in 1913, gradu· ally brought together gold reserves in our country in such vast amounte that we have been able to more thoroughly stabilize the gold reserve than could possibly have been done under our old system. "' This foreign stabilizing of gold can al!'o be found in the leading banking institutions of the world. We have no other basis to establish our great system of credits than the gold plan, which is now umversal1J used. By reason of this enormous gold basis, our great industrial and financial corporations have shown enormous growth. ~ Entry of Churches Into the Field of Practical Politics Unfortunate By DR. CALEB R. STETSON, Ne_:v York (Episcopal). ANDREW JACKSON McKINLEY affairs of a new republic whose credit among other nations was none too good. whose future existence was problematical and whose resources were weakened by a long war and put them upon a firm foundation which has never been shaken from Hamilton's day to this. The name of James Madison, whose port1·ait appears upon the five thousand dol-lar bills, Is closely associate(] with those of Hamilton, whose follower he was nt first, and of Jefferson, whose secretary of state he became. The picture ot Aqdrew Jackson on the twenty dollar bills reminds us of the beginning of a new era In American history. When the question of states' rights versus federal domination first became acute nnd the problem of the United States bank arose, to which Jackson was Irreconcilably opposed, he was the storm center of a stormy administration. It was during this time that Abraham Lincoln, the memory of whose greatness is recalled every time that a five dollar bill is ~n By CHARLES E. HOUSE, Washington Bar1ker. fly would be provided for and he did not cease from his task until it was finished. The portraits of two recent Presidents on the new currency, William McKinley on the five hundred dollar bills and Gr!)ver Cleveland on the thousand dollar bills, recalls the connection of both with the money history of the United States since the Civil war. Cleveland will be remembered for his insis~mce on the observance of the gold standarq and his opposition to enforced coinage of silver under the Shennan silver purchase act. Leader of a party divided within itself on the money question, as evidenced by the Democratic nomination of Bryan, in 1800, and Bryan's adheren \'e to bimetalism at the historic ratio of 16 to 1, the boldness of Cleveland's stand is cleRrly revealed WILLIAM GROVER CLEVELAND NCOURAGING :response to a method of self expression, and truth from the start, are the two most important factors in desirable parent-child relationship. Nothing is more disastrous to the development of the child mind than parental indi~rence passed through your hands, first came to Lis efforts, no matter whether it is only a house erected with blocks. Into contact with the probloems of If his work is appreciated, be feels ambitious to go on. It eventually state and national finance. As a leads to the child solving his own problems. member of the Illlnois legislature, he Each child bas the right to expect four things from adults whether was a scpporter and defender of the state banks that had been established they be parents, teachers, nurses or friends. They are security, troth, 1n Dlfnols. When Lincoln became the opportunity of self-expression and response to his efforts. • A cliild President and the gigantic task of tlnancinu the Civil war fell upon his needs to feel security with adults and be needs truth at all times. He shoulders, he turned to the man whose must have the truth in order to be adjusted socially and the right kind face yon wlll see on the ten thousand of co-operation between parents and child comes from giving them the dollar bills (when and Jf you ever 8ee one)-Salmon P. Chase, secretary of truth always. It is often difficult but it can be done, and there is never the treasury from 1361 to 1865. Specie a come-back. It is the best way to teach a child to respect its paretts' payment was auspeuded in the United word. States in 1861 and It became the duty Giving a child the right to self-expression doesn't mean that he of Chase to determine ways and means of carrying the government should intrude at any time, but he should be heard and he should have finandally through the wnr. Sll he re- the opportunity to have his curiosity satisfied. Parents need to be pals sorted to the Issuing ot bonds and with their children, too, if they are to have a close relationship in later years. It is often a battle of wits in rearing children and parents uever should fail to be firm, but gentle. There should be some definite agreement between the parents regarding discipline and it should be carrie-d out. At all times children should be respected and their personalities should be :respected. Too often things are done to children which DO one would think of doing to adults, and it often makes a deept[ impression on the child than it would on the adult. Respect your children. treat them as they have the right to expect and there will be very 12w "child problems." GEORGE WASHINGTON made the United States of America possible-the Revolution. For it Is not too much to say that had It not been for Franklin's efforts to get money from foreign powers to aid the colonists, their revolt against England could not have succeeded. Not only did Franklin obtain from France, Spain and other countries loans which were poorly secured ll't the best but his name was used by other Americans who went abroad for the same purpose. Nearly every one of them, when In need of money, drew drafts on Franklin at Paris and congress itself did the same fhing. What Is more remarkable is the fact that the drafts often were presented for payment before Franklin had been told that they had been issued. He never failed to honor them and, such was eighth Inches, to the new size of six and five-elevenths by two and eleventwelfths inches, will be advantageous both to the makers of our money and the usel1S ot it. A substantial saving will be made 1n manufacturing the new currency because the amount of paper required will be reduced almost one-tlllrd. To put it Into concrete terms, 1t will save the government enough paper annually to cover ~ne thousand acres. Less ink will be needed, shipping weight will be eut and more notes will be produced b:r the same operation by the bureau of engraving nod printing because ·each plate will have twelve instead of eight subjects. So far as the public Is concerned the new currency be more convenient to handle. It wfll, for example, go Into an envelope of ordinary size without fotding, something which the old bills would not do. The new bills will fit more c~fortnbly into the palm of the hand for counMna, where- By MISS AGNES TILSON, Detroit School Teacher• E Deaoalnatloa Portrait Baek Dutka 11.......... Washington ••.••... One t2... • • • • • • • • • J etrerson ••. Mon1:lcello Lincoln Lincoln Memo. '10., ••••• ,... Hamllton •.•. Treasury f20. ••••••••• ,.. Jackson • White House · f50 ••••••••••••• Grant •••••••• CapitOl tlOO •••••••••• Franklin Independ. Hall '500 .••••••••• McKinley Five Hundred ,1,000 •••••••• Cleveland One Thousand $5,000 .•••••••• Madison Five Thousand '10,000 ••••••••••• Chase Ten Thousand SALMON P. CHASE Encouragement and Truth Two Great Needs in Training of Children e ear • 1ft m Friday, June 14, 1929 Church and state should be absolutely independent of each other. There seem to be indications, however, that churches and combinations of churches have become active of late years in bringing pressure ii bear upon our legislative bodies to enact legislature of various kinJI,: The motive behind such action is a good motive. It is the desire to reform society, and to bring about better social conditions more speedily than these objects could be accomplished by the slow and tedious prosess of teaching and training the individual. In my opinion, this entering of the churches into the field of practical politics is unfortunate and it will in time react unfavorably to the churches of all denominations. Let the church as a church keep out of politics. The place of the clergy is not in the lobbies of congress, n<f is it their business to stir up party strife or to further party interests. re believe in a free church in a free state, not in a state coerced and governed by the church. We, as a church, have a right to express our minds about policie8 and customs, virtues as well as vices. It is quite another matter for 'the church or for its representatives to attempt to dictate the course gt•Vernments should pursue or to compel the passage of 1 ws by politir•al pressure. Alarming Indications That the Home Is Losing Its Hold on Youth By WILLIAM J. ELLIS, New Jersey State Official. t A recent survey of 10,000 New Jersey children between eleven seventeen years old showed that as the adolescent grows older his ft THOMAS JEFFERSON . 'rhe portrait of McKinley recalls the fact that tlle country accepted hi~ views on money in prPference to Beyan's lG to 1, and sent him to the Wbfte House instead of Bryan. ness for horne life decreases. These children were asked why they liked or disliked their homes as a place to spend their leisure time. It was found that 70 per cent of the eleven-year-old girls preferred their homes and that 60 per cent of the boys of the same age expressed similar opinions. From eleven to seventeen years of age, however, the percentage decreased 5 per cent fw each year of those who ~referred bPir homes as a pla(-e in whieh to spend leiture time. , 'I'he survey showed that it was not outside interests which pl'imarily drew the youth away from the home, nor was the reason laid to such superficial causes as the type of home or furnishings, bu rested •llm~t entirely upon the predominating spirit of the home. Children inclined to stay awa:y from home as much as possi'ble also inclined to criticize their parents for the latters' lack of interest in thf! home. |