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Show n fcs marffffcniiiT rrrf aft n Hi c TTIE PAYSON CHRONICLE, PAYSON, UTAH DETERMINISM By LIMITS THE MIND REV. FATHER J. ELLIOTT ROSS, New York. Y? F ONE gets any value out of life it must be on the basis of peril sonality. One must grasp the fundamental belief in the power of Jl freedom. If one tries to escape from human freedom, a3 did William James, the philosopher, he will land in a bog of pessimism. I have never known consistent determination. I have never read deterministic literature which has been consistent with intelligence. You cant have determinism and freedom both and yet many of the determinists use the word freedom frequently. If determinism were really true it would produce a world of people who were determined. Actually it produces a world of people who are indetermined. This indeterminism makes life richer for us, adds value to it, gives us things which determinism could not possibly give us. We ought to recognize and protect these things, for life would be poor indeed with an outlook of complete determinism. I do not mean that we are absolutely free. We are controlled by physical and hereditary laws. We are governed, too, by social inheritance. Our conduct is governed by habits which we form. Some smoke cigarettes and others drink to excess. Our habits all limit our freedom. There are, in addition to all these restrictions, pathological and normal limits. But all these do not hinder there being a doctrine of human freedom which is expressed in personality. Every one can have freedom of mind, even the poorest people, if they avoid determinism. COLLEGIANS DEBT TO SOCIETY By REV. JAMES JCJzJYF ft THJTGOLD ROOM BLACH RROAY Of BY w ELMO SCOTT WATSON 24 is the ElTEMRER sixtieth anniversary of an event, now almost forgotten, which at the time almost shook the nation to Its foundations For September 21, 18!), lias gone down in history ns T.lnck Friday, t he day that the gold market In Wall street was cornered, bringing a financial crisis which was felt throughout the country and slinking the confl lienee of the American people in some of the highest public officials in the land, a day of ruin, insanity and despair. The two outstanding figures in tills story are .Jay Could and Col. .Tames Fisk, Jr. Gould was a strong character, even though not an admirable one, a lone wolf who is described as gifted for silent Intrigue and never to be satisfied except when deceiving every one as to his Intentions. Although Fish was no less ruthless and daring than Gould, he was at least a more likable character. A recent biography of him under the title of Jubilee Jim, appropriate written by Robert JI. Fuller and published by tiie MacMillan company, shows him as a picturesque character, a moral jackdaw with n continual hunger for the peacock feather of As a peddler, public consideration. showman, Civil war profiteer, speculator, manipulator of railway stocks, corrupter of judges, an elusive witness at public investigations where his posturings and antics tickled the public fancy mightily, Fisks life was a flamboyant melodrama of industrial anarchy, personal ostentation and private luxury. Fisk had been a partner "as nearly a partner as any two men could be whvn one was Jay Gould" wdth Gould in the famous Erie railroad manipulations for the undoing of Cornelius Vanderbilt and In some of the political financial schemes of Ross Tweed. So Gould took him Into his scheme to corner ail the gold in the country. Two problems faced One was to buy the conspirators. ail the gold in sight, a enmparathely simple matter, for there was only about $20,000,000 of it in circulation The other, and the more risky, was to keep the Cnlted States treasury, which had $l(X),(KHi,(Xi0, from selling gold while the operation was on and breaking the corner. Gould's first step was to seek the aid of A. It. Corbin, a Wall street H eculutor who had married a sister of President Grant. When Grant stopped in New York in June, 1!), while on the way to the Peace Jubilee in I.oston, he visited at the home of bis 1 rother-ilaw where Gould called upon the President. When Grant con Untied m his way to Boston it was on one of Fisk's Fall river steamers n His Phrase Famous Tiie Innocuous desueexpression tude was made famous ly Grover Cleveland in Ids message to the senate on March 1, 18S0. The sentence that contained It was: After an existence of nearly twenty years of almost innocuous desuetude these laws are brought forth." Tiie senate had claimed that as tiie absent of die sen ate was required lo confirm the np Doiutment 'f certain ofiieeis, tiiose of as the guest of Gould and Fisk. During tiie trip Gould led the conversation to the subjects of gold and crops and sought to convince the President that the government should favor a higher price for gold since It would give the farmers a better price for their crops, thus making better business for tiie railroads and tiie country as a whole. Relieving that he laid won Grant over to his views, Gould emliaiked upon his campaign and on September 2 began to buy gold in Wall street. On that day lie bought a million and a half dollars worth for Corbin and another million and a half for General Butterfield and Gen. Horace Porter (both of whom later repudiated the purchase ns having been made without their knowledge). Within two days gold went up two points and with each point rise Corbin made $13, (XX). Soon afterwards Gould Invited Fisk into the scheme, assuring him that Butterfield (in charge of the in New York) and the PresiSo Fisk dent were fixed all right. began to buy heavily. Immediately gold began to climb and by Wednesday, September 22, it stood at 140V&. At this point Grant, becoming disturbed by Corbins part in the manipulations on the exchange, sent word through his sister to close out his speculations as quickly as possible. Gould tried to bribe Corbin into disregarding the President's Instructions but Corbin refused. Then Gould, seeing his scheme about to collapse, debis own assotermined to double-cros- s ciates. lie gave secret orders to his brokers to begin to sell gold. Fisk kept faith with Gould and continued to buy. When the market closed on Thursday, September 23, gold had reached the high mark of 143. Rut worse was to come the next day Friday, destined to be known as The next morning Black Friday. Fisk entered the gold room and loudly gave orders to Albert Speyers, his brol;er, to buy all the gold available Next he sent orders to up to 145. put it up to 150. By noon it was up to ICO and Spejers, who had bought (it) millions, now had in his name for Fisks nocount half of all the gold In tiie country. Of what followed Fuller vv rites : It seems absurd that the orders given by Jim in Heaths back room and Speyexecuted bv that jumping-jack- , ers, should have paralyzed business, as Fran-( thev did, from Boston to San Wall Streets bedlam was only isc o evIn men of a sample Thousands ery city were reading the astounding came out of the taker that figures that told that they were tipe figures ruined The fluctuations in the price of gold were so rapid that it was Impossible to keep up with them. No speculator outside the gold room had a chance to protect himself. He gave ms order to huy or sell, and after that ho was in the hands of blind fortune. He might as well have gone fishing as to have tried to follow what was going on in that densely paiked, suffo y fleers were not subject to removal by die President without the senates permission. This claim was based on tiie Tenuie of Oliiee act, passed in INfiT during tiie conflict between congress Cleveland and President Johnson. maintained that in this particular matter that law bad up to that time ben allowed to remain In a stale of harmless Superior to Roclcit The vullejs t Tibet are higher than die tallest oenks of the Rockies. cating -- oom, where men were thrusting their heads Into the basin of the little fountain to cool them of the fever that prevented reasoning. Men who owned stocks and bonds had to throw them overboard for what they could get In order to pay their gold losses Demoralization was general. Every fluctuation of a point In the price of gold meant gains and losses of millions, and that day, under the pressure of the tremendous forces that were represented by the bulls and bears, the price wavered like a weather vane in an easterly gale. Who could tell where these feverish pulsations in the price would lead! Fisk was declaring that gold would reach two hundred; maybe he was right. Perhaps the whisperings about a gigantic conspiracy among public officials, with President Grant at their head, to make fortunes by speculating in gold on the bull side, were true after all. Only the United States Treasury could smash the clique that was boosting and the doors of the Treasury gold seemed to be fast locked. In the meantime telegrams had beer, pouting in from nil parts of the coun try to President Grant and the secretary of tiie treasury, begging them to order a sale of treasury gold to prevent a crasli In the business of tiie country. Grant decided to sell five millions and authorized tiie treasury to announce the sale. But the break bad already come. Jumes Brown, a Scotch banker, acting for a group of merchants and bankers, entered the gold room soon after Fisk's brokers had bid the price up to 102 and amid the din and confusion shouted that they would take any part of the at that quotation. Sold, 1,000,000 at 102," said Brown quietly. A moment later lie sold a second million at 101, then 5,000,000 at 100. Then the market broke. Ten minutes later word came from the of the orders to sell four millions of It Is believed that treasury gold. Brown already knew of President Grant's order when he made his first offer but the main fact is that ids action started the break and the announcement from Washington comWithin pleted the demorialization. fifteen minutes the price of gold had fallen 29 points. Tiie corner In gold was ended. A mob, led by brokers demanding a settlement, gathered in front of tiie brokerage house of Gould, Smith and Martin, bowling for Gould. A similar mob assembled In front of the office of Fisk and Beldan shouting for Fisk. But the two conspirators, who had expected some such result os this, bad fled from Wall street when tiie market broke and sought refuge in tiie Erie offices in Fisks Grand Opera house, where they were guarded by their band of iiired (hugs. Gould Is said to have made eleven millions out of bis roup. Despite (be tiie fact that be had betrayed I latter forgave him and they eon tinned friends. As a matter of f.iet, I isk lost nothing, for vvitli the aid of Tweeds corrupt judiciary lie Boss was successful in repudiating his millions in debts. When tiie whole affair was investigated later before the Garfield committee it was found that half of the business houses on Wall street And it was not had been ruined. until tiie report of their committee became public that public suspicion of Grants part in the conspiracy was allayed. For neither the President nor any of ills kin except ids brother-in-lahad profited one cent from tiie shame of Black Friday. i'-- GORDON GILKEY. Amherst College. What does a college man owe his community ? The first consideration is that the college man owes his community a life of unusual generosity, lie should make gifts to charity not for public commendation, but because they are the fair and reasonable return he makes to the community for the signal benefits it has given him. A second responsibility devolving on college graduates today is that they must give their unfaltering loyalty to the institutions and organizations that stabilize and ennoble community life. Such institutions are the school, the child welfare agency, the church and the government. Particular emphasis must LEO he laid on the need of good citizenship. in the years ahead we must give our chi! TU Another responsibility is that dren wise and effective guidance on the great questions of right and wrong. To let the next generation reach maturity without understanding the correct principles of conduit, these known roads to happiness, is the worst kind of stupidity. The cares in college should have disclosed to us and to a position a way of life which leads to achievement, to of public esteem and confidence. more value can buy in any other make of radio set! Only Majestics and makes giant production possible such amazing quality at such an un heard-o- f price. No other instrument in any price held commands the services of such eminent engineers. No other guarantees your HERES precisio- self-respe- n-workmanship HOSPITAL MONUMENT TO SERVICE By WILLIAM M REMY, Indianapoh. The unselfish purpose exemplified in the building and the maintenance of a hospital is one of the finest reflections of the tendency of our nge. All over the country statutes are being passed to protect the rights of our neighbors, and those with whom we do business as well as ourselves. Governments are looking forward to protection of all peoples and not of a particular group. We have left behind the feudal and monarchal age. The age of legislation for selfish purposes has gone. The hospital is a comparatively new institution; just a short time back people whose minds became defective were stoned to death in England and those unable to work were cruelly maltreated. Erection of a hospital as a monument to service has come with the new vision and the new ideals of our civilization. The Indiana Christian hospital stands as one more monument to the constructive thinking progress of the day in which we are living. Its contribution in helping to build and maintain life, in offering civic service has been a very praiseworthy one, and it is to be hoped that the good work may be continued. satisfaction with exacting inspections of every Majestic produced. No wonder Majestic adorns a million homes with 5000 new owners added every day ! They know what theyre saving in real money. They know what theyre getting in superlative, reliable performance all year round. You cant buy a better radio than Majestic at any price! See the Majestic dealer today. GRIGSBY-GRUNO- BANK PROBLEMS TO BE SOLVED By R S. HECHT, COMPANY, CHICAGO. U. S. A. Mighty Monarch of the Air Model 91 Hibernia Bank, New Orleana. President 1000 Reviewing the history of bank mergers and the present trend toward associational activities, it behooves us as bankers to put our house in order and take the initiative in correcting the evils from which the unit banks have suffered. In the end there will be a question of the survival of the fittest. If unit hanks get together and formulate effective plans of and if the public interest and public welfare are always their prime consideration, there can be no doubt of the ultimate outcome. The choice lies between improved hanking practices among the unit banks or ultimate absorption by a centralized system. The answer is largely in our own hands, and notwithstanding the inroads being made by branch and chain banking sdem, I believe onr unit system will live at least for many years to come. Mergers last year numbered 185 and 259 the vear before. Less than 1 d of per cent of the total number of banks now bold more than .pnTfhcri5? tube plus four tuned stage of radio frequency. Absolutely no bum or oscillation at any wave length. Automatic acntitivity control give uniform range and power all over the diaL Improved c Majestic Speaker. Heavy, sturdy Majestic power unit with positive voltage ballast insures long life and safety. Early English design cabinet of American Walnut. Instrument panel overlaid with genuine imported Australian Laccwood. Escutcheon plate and a CtY knobs finished in genuine silver $1 r - 1 TUNE IN j Majestic Theatre of the Air over Columbia and American Broadcasting Systems every Sunday night, 9 to 10 Eastern Daylight Saving T ime. Headliners of the Stage and Screen j one-thir- all the deposits of the nation. mndr tAf4 anduppJtci H'orld't larftti Manufaturert of Complete Radio kecetrurt ( WOMEN FOR HIGHER POSITIONS By MARIA CASTEI LAND. DR K t n C A and Uk- A HoQnn ciutM. Italian Publicist. : . of H ifli ifnmrtad American business women should assist in establishing an international federation and encoutage women to go after some of the important positions in (he international field held by men. Women are crippled Engines Wild Journey now for want of an international intermediary. There Imve been few more spectac Nowadavs many businesses and professions nre directly connected with tiiar railwny runs than that made the international relations field, hut thus far the men have all the advanti.v a great locomotive stolen two jenrs ago by tldeves from the Volk tage in sudi professions. Very few women are in the international relarust (Transvaal) engine sheds und tions field, and they bold only the smaller positions in international bod os. driven by them fifty inl'es to Stand women need international help, they have prion There they reversed It, opened If business and profes-iondie throttle, and Jumped c!enr The to go to associates other than their own, betau-- e even if the federation is deseitod engine thundered bark at in their own tonntrv it has no international standing. forty ndlos an hour Rigid hack to very powerful This could and should lie rnnednd. As women get a wider acquaint die stiods it stuck to die traik Then it smashed into some wagons ami was ante internationally, as tiny leini more about international affairs, the . wm kod. are going tc cube themselves ft It in !! these international orguuizatiou al A fvpA-- RADIO Eheul Engagement about that piano, honey, stairs for jou. Marriage Bring .vou of thread? Do I look horse? Telephone tu res. .v, don't worry III get it up- homo n spool like a ! Money tn t every tiling, hut it cures tilings, notably wlint is called .nclal unrest. uny Never hot on a sure thing jk j cun afford to lose. unless s I |