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Show "THE HERALD; TUESDAY. JULY 10, 1923. fei-r- a ' U!!FA!1 TO fun Tweaty-themsan- FARIIEH Third Article Shows How Credit Test Would Fail Kim In Kit Need. .. nUnau tf At farmer ot money" "commodity t Khemt, although ostensibly elmsd to taprove Us eeonomis position. It ais-which article., tb present eussed ti b the third In a series prepared by the Americai Bankera Association, e tha axpoavrt of tha plaa aa presented by William T. roster. Director ot tha pollack Foundation tor Economic EaThe : Ediaoi-For- d weak-XMS- ot-th- search. ..' Briefly, tha plaa, sponsored ey Thorn-i-s e Bdltoa.aad Henry Ford, would pro-tid- ... V particularly rood. , Tha mi gaga la now ins, M.0 marks are ta h paid. Marks are quoted XJO.Ooa ta dollar. marks, ot that, therefore aqual ooeixth at a donarv-l- IM eaata. Oa tha theory that "a mark to debtor eonld wipe oft Ms I5.eoa mortgage tor II 11 cents, lees than tha value ot a doses eggs. lor (Jovernment warehousing ot heslacomaioditlea, agalnat widen cur-fancy would be loaned, durtof storate. to tha producer without interest, ap to hiiX tie average value ot tha prod-act- s tor the ; preTiona twenty-liv- e years. Oa tha other halt ot the ralaa the producer, would .recelTe certlfl-sate- s which he could sell or aas toe hank loans, yu,;" " v v- .. . Reatriotejd Credit Ia flat provision allowing tor loans only ap to halt the one-sixt- h, see v thtr imt u ' : -- pros-Vpeo- ts folks. would be too high for some commodl-v- , e ties and too low for most ot them. Pipe dreams are wonderful while With;: such details the Edison plan is not concerned. , they last but shattered health, mis ery and despair are the final penalty Banks Fairer to Farmers The ones who profit are the dope j "The' general practice ot the banks sellers. Unsound money is a pipe is not only fairer to farmers, but It Is dream and the penalty is economic V As fa Tin Inat. mintae Hntii , rtilit, misery and despair for the mafloatlon for basing the loan value ot The ones who profit'are the jority. . anything upon average prices in past speculators. Sound banking practice looks ', years. .; to the future. V A. bank for the pro-- " taction of Vita, depositors, it tor no LIKE DADDY," : other,- reason must consider above "JUST - everything the. prospects ot getting 'its money back. And a fanner's pros-- - yVVfM fJL PAPER MONEY PIPE DREAMS p j Vwj I HJ AN ECONOMIC FORCE I I JV V I &3 i 1 year- s- t a If estimated life of average i J j motor with perfected 0 ) 111 v J J j j1 . nation issues paper money with noth ing back ot It. that aatloa la on tha road to disaster. Look at Russia with Its' worthless rubles and Germany with Its worthless marka. Think ot what happened in Franca during the years tmrnedtateTy following our Revolutionary War. The common .people ot France rose in their might, tore down the Bastlle, and made reprisal tor centuries of kingly crime and oppression. The profligate court had piled np taxes until they were unbearable. The enraged populace killed King Louis XVI and also his queen, Marie Antoinette. But they only threw themselves out of the trying pan Into the fire so far aa finances were concerned. d) xeart-Uf-eof ayermge motor with ordinary lubrication Unsound Money Tyranny At the vBry point of their currency inflation tfieyoflnaohemselves under the absolute domination of ' Robespierre: Ihsoder to v meet the growing scarcity of coin, paper joney called ssslgnats were issued. .First 400.000,000 francs worth, then 800,000,-00were added with the distinct understanding that the "200,000,000 would be the full extent ot the Issue. This pledge was soon broken and further Issues brought the total up to 3,700,000,000 francs. Frightful depreciation was the inevitable result; and legislation was passed, making it a crime, with six years' Imprisonment as the penalty, it any one should refuse to take the paper ssslgnats at their face value. Just think ot It! A French peasant after working the entire year to produce a crop was compelled by law to accept payment for that crop In paper money, which he knew to be worthless, or go to prison. It was simply legalized robbery. When the penalty was increased to twenty years imprisonment the Inevitable climax came. The Reign of Terror was at its height Robespierre was in supreme power. He suggested that more ssslgnats be Issued and if the people did not take them the guillotine should be the penalty. Robespierre's End This unheard of outrage was more than the people could stand. An unknown man arose on the floor of the convention and denounced Robespierre, reciting the heinous crimes he had committed, and so worked upon the feelings of the audience that Robespierre, t he tyrant, became Robespierre, the convicted criminal-Twdays later he was led to the guillotine. France had learned her financial lesson well that money must have value back of it The fallacy of unsound money Is sure to confront us again. Never is there enough of everything for all the people. The struggle tor existence is a real struggle, and those who find, themselves in the lower strata of human society are ready at any time to grasp at flat money or any of the other things which misguided politicians hold out to them. My whole purpose is to drive home the fact that danger lies ahead and to urge every one to let no opportunity go by to use voice and Influence toward keeping the wampum of these United States, as - it is today, the soundest currency in the world. fPla - National automotive authorities estimate that seven years service from your car is a reasonable expectation with perfected lubrication. The life of the average car is only five and three-tentyears with ordinary lubrication. You may not plan to keep your car that longbut it will have greater resale value if you, follow these three important steps in securing perfected lubrication: . V Clean the crank case' thoroughly every 500 to 1000 miles and when changing from one brand of motor oil to another. ' Y aV ; . , mm ran Lubricate with cor- rect grade of Cycol the perfected motor oil, as shown on the Cycol Recommendation Chart . Flush the crank case 2. only with fresh never lubricating oil with kerosene or O ed "flushing" oils. the Cycol is perfected by an advanced method of oil refining new Hexeon process. It makes Cycol free from destructive the impurities which cause motor oils to ulphow compounds break down and thin out rapidly under engine heat. . ASSOCIATED OIL COMPANY Executive Offices, 79 New MmilftWiPf txtet got Fraacigco 1 Distributors for Utah, W. P. FULLER & CO. free from destructive compounds mm "5" m crazy witih the heat. United States has a truck, showing how few truck farmers we have. ' It ia not true that recent earthquakes were caused by a bride drop, ping a biscuit " A penniless man who went to the Kansas oil fields' to get rick now "owes Cold cream helps sunburns, but nothing helps sideburns. We sat a presidential possibility lose two votes when a certain kind of auto hit a fence. This weather seems to be going RHEUMATISM Next to bad news, a triplane making 300 feet a second is the fastest thing. ' man-mad- . They say one bad effect of the war is 2,000,000 crap shooters. The bad effect, however, is the unlucky ones. the Human Body If Yeu Will Use Trunk's Prescription I It In preposterous; In fact. It U a Shame to suffer with inflammatory, sciatic or muscular, any form of Kliuumatinm. This frescrtptton does not rola the stomach. It does Dot depress tb heart. Kat alt the meat and yood fo'U you wish while taking Trunk's prescription. Contains no mercury,-salicylatInter reel or soda, oil narcotics, but positively overcomes' any kind of rbeumatismor guut oa earth. What more do you wantf There Is nothing Just as good, anl It Is Impossible to get .something better. The greatest uric acid solvent known and also aperies liver sarglriae. Trunk's Piescrlptlon sells -for tl.TS 15.00 at drug- stores. r I for only Hedqulst Drug Co4 Two Stores. ,' A watch spring is more likely to to break during a stoorm, and a pin during an argument. rolling " Mt. Even if spare rib prices are down, never hug a girl to hard. 7 These the the daysdistracted women remember at the station the tickets are in the trunk. ' California operates about 260 stage lines, but the movie : stars have the best stage lines., . , Russia is mad at the Swiss, but the Swiss don't give a yodeL .; Only one farmer in 60 in the Ji IT rr .somewhere. Many June husbands are forget-tin- g how to drive with one hand. Fish along the Atlantic coast chase every gob of sea foam because it might be beer suds. . , Etna Peach growers report their efforts this year are bearing fruit . .av e Just like the children, breaks out with heat While most other countries need it the 'most, tha United States uses the most perfume. New HampsMrepermits divprcG on 14 grounds, all battlegrounds. p.-- Dempsey and Gibbons together couldn't beat the tax collecter. A gardener who started out with the slogan "Watch us grow" tells us the weeds heard it. In i9fW Wolves often raise 13 pups, and usually bang around the doors of other large families. i Cannot Exist $1,500,000.' . mm it:-,- 20,-00- u 1 Because of this, Cycol retains its "body" under high operating the essential lubricating film between temperatures friction wear to a minimum. Use Cycol reduces and moving parts of your car that its makers put. value and the .all out regularly get ' -- .Ai I hs 0 pects ot repaying a loan from the sale o? his product depend entirely on future prices, not at all on past prices. By J. H. PUELICHER Last year's runs do not count in this V year's game. President the American Bankere As to the claim that the Edison Association. plan would curb speculation in farm "Like Daddy" products, Mr. Foster says: these two "There is nothing in the Edison words, that explan that would tend to abolish specpress the imitahad fanner tha ulation. Even after tive nature of stored his products and obtained a children, occur to loan from the Government, he would me as I think of t still bd tree to sell his product our parental reThe farmer o speculators. in sponsibilities would have all the inducements to sell respect to both that he hu today, and speculators the thrlf tines would have all the inducements to J. H. Puellcher and the thrlftless- buy.. neaa of our dots and girls. The "Clearly, then, tha Edison plan on both aspects of the would not provide a money that is accent belongs we have yet to find a person for case, would sounder than gold money; it of thrift not provide a money less subject to who Is the perfect example Even Ben Franklin admitted nis fluctuation in value; it would not enof attainment after his years of able farmers to obtain larger loans Uck and would than they can now obtain; it and his temptations were not so from the not divorce agriculture as those of today. Every reader banking system; and it would not great his deficiency In thrift So will admit farm prodeliminate speculation in will I. And what of our children T nets."., Will they copy us T Will their attitude toward thrift be like Daddy sr WW it be thrifty or thriftless? It will at least be largely Influenced by it The thrift of the next generation Is in the hands ot the present If our children are "out of hand" on By JOHN OAKWOOD their habits, whom have we to blame but ourselves? Remember this: The next genera Hitting the pipe seems like the greatest way in the world to get tion will be subject to the same laws of economics, the same rules of suc something for nothing, a whole paradise full of Joy for a few whiffs of cess, the same principles of happiopium smoke. But ness, as prevail today. A habit of thrift Is one ot the best possible charBy the way, the big lure about flat acteristics we can mould Into our SOME BANK SALARIES money is that it seems to promise children's natures during their .habit- about as much for nothing as a whiff forming years. Its value win oe apon the pipe. They are Just coming parent throughout maturity, whatever Investigations made by the Missouri out of such a dream now in Germany. their lot, whether at the helm of large have revealed Association Bankers enterorlse or steering the more num- that 363 banks in the state in towns Here is the way that German soft ble affairs of a home. of under 2,000 population are paying money dream goes. Say in 1913 a Thrift will be the basic principle their cashiers and chief executives an and 0 man put a ten year mortgage for our nation of life in the economic marks on his farm. Marks were Its system of producing and exchang- average of only $110' a month. Only Is always then worth, in gold, about four 27S of the 1,162 reporting banks in ing commodities. Thrift to the dollar. The debt, therefore. both of social and ot Individual advantowns uhdet',5,000' population, pay the was equivalent to about f 5,000. report says tage. Each day finds .us expanding president a salary.-Tha a both in breadth and in depth of our indicates that, even allowing foi 'It In the ten years since that debt was resources of enjoyment and our opthe economy of living in small, com contracted, the German Government portunities tor service as we practice nunities, the cashiers and managing has published, so to speak, trillions of thrift. fflcers of those 1. J 62 banks, who re taper marks. What happened T What But how shall we bring about habeive an average of $140 per month would happen to the price of eggs if its ot thrift? Is there any other way they had a hen at Washington laying than by teaching, whether by direct either must have personal means to a billion eggs a day, even It they put must maintain th precept or by the unconscious example oegin with, or a government stamp on them to their position inr necessary uanrtards continually own habits, saying ot our ggs Were worth a quarter a piece? pressing themselves on the receptive thp leaders of their communities ani German marks have gone down from minds ot the young? Hhe builders of the commonwealth by tour to tha dollar to 110.000 to tha seiuu "Like Daddy" expresses one of the means or s.oe lines, sucu MHir. most powerful social and economlo ! Insurance, collecting commissions on j farm loans, and trading in reel estate." forces there la. Kara is where tha yip dream goto out-righ- n eoadttlons Got-ernme- ; President .i.. ' , WAMPUM SOUND! By SAMUEL H. BEACH. Savlnge Bank Division, i . America Banker Association. That la, ha can unless tha pipe dream cornea to a snddea an a ia Although the foiled States to todiy one thing the German eourta are rut apoa a solid gold basis, we aoverth uai taa tteory - mark U a mark less know ot our own knowledge what inflation means It doesnt so. that m. k would take long to back a fair equivalent tor what he re- cervea ana mat present paper marks recall ta detail the bitter Worth 110.000 ta tha Snlla a experience which this nation tha fair aqalraleat ot former gold suffered during the mnru ai tour to tha dollar. Civil War and the e e e rears which follow- Furthermore all pipe dreams are ed it. and tn our too good to be true. They are not J easy eondl- present what they seem. The u aaa. tag oft in Germany and they ire comsuch 8. H. Beach ing down to earth with a dull thud. could never again It la beginning to be realised that the arise. But with such men as Henry net result ot a paper money nightmare la that Droducers ara rohhait 'Ford and Thomas A. Edison talking about commodity money there is no and speculators enriched. Farmers , are unable to raise prices tor their I.foretelling what may happen. One ot the plainest lessons taught by products fast enough to keep up with the tailing purchasing power ot un- ' financial history is that whenever a " sound money. The value ot such money SllDS awav fmm tham ttVa a handful ot dry sand. It .brings back w uem teas purchases than they gave ot their products to get it " e Tha farmer as a result cant make ends meet and when he gets into dif ficulties the unsound monev s Derm is tor steps In and buys ap mortgaged tana lands cheap and thus it is ' Ml. Foster flndi. particular weakness mostly tha speculator who profits by Ja. the scheme. ; He points oat that paying oft the mortgages with cur prices hav risen so high Bines 1191 rency worth less than a dozen egga thai the farmer could borrow oa most unless tha courts atop him. prea-en- t the mach leas halt e than products vafu ot the roducts much less, Mora than that, if farm mortgage In fact, than he could borrow directly debt- - can be paid off with almost from the hanks. Loans on the other worthless currency, so can corporahalf, Jthe value, which; would be- - on tions pay off their bonded debt, the virtually a second mortgage basis, he bonds In which many a farmer's sav says, would not be desirable tor the ings, and many a widow's and or' . banks. phan's inheritance, are Invested. : "The pjan is not fair even to fanne e ers; It involves unjust discriminaBefore the war, with marks worth tion," Mr. Foster says, "The Edison 24 Cents gold, the deposits of the in German savings banks were thrifty arm-" nets absolutely, uniformly and worth over five blltten dollars. Today. trarlly. It ignores the relative ot different commodity markets. although these deposits have multi plied many fold in terms of marks, Qnly by the merest chance would such their res value is only about halt a a. method giro a fair loan valuation, million dollars gold. That Is what a IPIftT ni Mnt nf tha iTonril nrlm fir'' th nravtani twentv-fiv- a rears loose money" plan does tor common . KEEP AMERICA'S d It never rains but It's a pienfe a GENUINE 4 am"". nnn A at DURHAM TOBACCO STANDARD OF THE WORLD |