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Show TUESDAY, atjGi THE BOX ELDER NEWS, Semi Weekly Bllte How All the People Played a Box tHlhrr News In Building Nation s Credit Structure Published Every Tuesday and Friday Semi-Weekl- 8. C. WJXOM. y, Editor and Manager ...$2.00 $1-9- 0 .60 Entered at the Post Office at Brigham City, as Second Class Matter. Give Hand Labor ALL READY the Preference A number of public improvements this community are contemplated by the city, county and school board under the Industrial Recovery Act, provided that federal funds can be In . secured for the same. This work, if put over, will involve the expenditure of considerable money and care should be taken to see that all contracts let, as far as possible, should provide for hand labor by local citizens. Unless the majority of this work is given to local people, many of whom are idle, there will be a mighty call for help during the coming winter. It will probably cost considerable more to make extensive improvements on the roads and public buildings, where hand labor is used in preference to modern machinery, but it , is worth the difference, as the money, or the greater part of it, remains at home and is spent here. There. are certain laws governing the letting of contracts for public improvements, but we are sure our public servants will do all in their power to place this work where it is most needed and will accomplish the most good. and rarin to go is the way we feel about everything. We have the goods. A big fine special sale coining up this week. We have the prices, lowest in years and we have the clerks to give you the service. All we need is the customers with the cash to . . . carry away the goods. THE t , ' EDDY DRUG STORE Destroy Fire Traps Build Now! The amazing decline in property values has caused many owners to allow homes and places of business to fall into extremely poor condition. No attitude could be more in error. Buildings in a state of disrepair are wide open invitations to fire. They are a constant menace to the community and the neighborhood. Insurance losses are paid on the basis of todays property values, which in most instances are far below the original cost . It is in the interest of every property-owner to maintain buildings modernized and in good candition, free from accumulations of rubbish. These things can be done now at the lowest cost in decades. They not only help to eliminate the chance of fire, but give the owner needed improvements at bargain prices prices which wont be in effect much longer. Best of all, the expenditures made,, provide needed employment, both in the home community and in industries supplying building materials. They help stimulate t purchasing power the great national need of the moment Remember that its cheaper to keep a building in repair than to put. up a new one when it has entirely gone to seed or been destroyed by fire and remember too, that jobs are better and cheaper than charity. rock-botto- m . Just Who Is The Santa Clans? per cent must be returned by additional tax levies in every political obtaining a loan. The 30 per cent that is given outright must be dug up by all the people for the favored section to which it is given. The public works program, which has been passed as an emergency measure in time of stress, must of necessity increase the burden of the taxpayers, unless ways and means are found to cut government costs in some manner, sufficiently to offset this new exnense. . It is well for the people to begin to understand that each citizen is a separate Santa Claus, who pays for every gift" presented to him by his government sub-divisi- -- Talk of the Town What Prominent People Say In the Current Magazines rather sing than do anything else on earth. Lawrence Tib' I would bett, opera singer, in the American , Magazine. A bath is as good as ft smells. Hazel Rawson Cades, beauty editor of the Womans Home Companion. More and more men and women are . educating themselves continuously throughout life. Henry Suzzalo, editor new National Enoclopedla. Many hard lessons teach us the human waste that results from lack of planning. President Roosevelt in The Country Home. ; Sq far as Americans are concerned, a generous wage scale is the bed rock of prosperity. Wm. L. Chenery, editor of Colliers." so to accustomed Im being a woman that I never think about it. Frances Perkins, Secretary of Labor, in the Womana Home Companion.' The- word "geometry originally meant or surveying.. Indeed, in certain parts of Europe a survey is still called a geometer. Professor D. E. Smith in New National Encyclopedia. , A lot of people have come to look upon .Uncle Sam as a, financial . Santa Claus. , They, forget that every dollar that he gives to his children has to first be- taken away from those children in the form of taxes. It is just beginning to percolate into the peoples minds that, the $3,300,000,000 public works program Is going to have to be taken from them, the taxpayers. Every community is clamoring for a share of this fund and although the ' government gives 30 per cent outright of Bums alloted to projects which it approves, the remaining 70 - - earth-measureme- nt OUR ADS BRING RESULTS By FRANCIS President American Bankers described be CREDIT may informally and good inhopes, plans tentions converted into present purchasing power. The farmer, the manu- facturer, the merchant, the home buyer, the pur- chaser of household goods, the Investor and the speculator all borrow at times. They plan to repay with the earnings of their crops, proceeds of the sales of their goods, in- comes from their F. H. SISSON wages and salaries or profits from the resales of their securities at enhanced market values, each as the case .may be. The greater part of these various forms of credit is obtained by the borrowers directly or Indirectly through the expansion of the loans and investments of the banks. It is this which creates the notes, securities and mortgages in the portfolios of the banks. The banks are able to extend these loans because a great many people deposit money with them. Even under the best conditions the plans of a small percentage of borrowers go wrong through mistakes, hard luck or dishonesty, and the judgment of the banker in such cases is proved by the after event tc have been at fault The losses caused under such condl tions are ordinarily fully met by funds set aside out of the earnings of the banks for just this purpose and do not affect the money of the depositors, who seldom hear anything about such losses. In the vast majority of cases and in the overwhelming volume of business Involved the confidence of the hankers In their customers and the confidence of the customers in their own ability to carry out their plans and obligations to successful conclusions are wholly justified. This is the normal economic situation and it constitutes the conditions under which the use of credit adds to public welfare and progress. The Faith of the Banks Such was the structure of hopes, good Intentions and common confidence In one another that existed among all classes of the nations community life when the series of economic' shocks began to shake the nations social fabric In 1929. The people had deposited billions of dollars with the banks because they had confidence In them. The banks had loaned large' volumes of these deposits on farm and home mortgages and pa notes of manufacturers, business men and finance concerns, and had invested' in the standard securities of the nations corporations, state and local government units and the national government Itself, because they had confidence in the citizenship and business condition of the nation. ' Their mortgage and other loans to owners of farms aggregated $3,500,000, 000. Loans on urban real estate were $4,000,000,000. Loans to individuals secured by U. 8. Government, municipal and corporate securities totalled Loans to industrial and commercial' enterprises In connection with the production and distribution of the nations infinite varities of goods amounted to almost $19,500,000,000. Investments In Federal, State and municipal bonds were almost $6,000,000,-000- , and in various kinds of railroad , and corporate securities $11,000,000,000. These made total leans and investments of $58,000,000,000. This great credit structure was built while the country was at peace, while the farms and factories were productive, while the nation and the world provided great active markets for their outputs, while the earnings of all kinds of enterprise were large, while the WANTED -- BARGAINS For (jy28-a- l) our Harvest used refrigerators. Variety Store, Pair of eye glasses in case, in Brigham City or Blacksmith Fork canyon. Finder return to Arthur Sycamore, Brigham City. Reward, LOST 100- - ONEY Is your real harvest. Money SAVED measures your year's success. Use our Bank not only to run money thru. . . but also to keep money IN . . . until you get enough to do something WORTH WHILE START SAVING REGULARLY NOW - We Welcome YOUR Banking Business FIRST NATIONAL BANK MEMBER FEDERAL RESERVE SYSTEM BRIGHAM CITY, UTAH FOR SALE and North- - (al-4- WE WILL PAY CASH Or wool. Baron Woolen Mills. (jyl4-a- l) GET YOUR PICKLING CUCUMBERS NOW While at their best. Lunds Fruit Exchange, Fifth South and Main street. one-ha- lf 60 r to believe. The great fact of American banking is that it shared fully In the plans and hopes and hazards of the American people, and when those plans went wrong, the banks carried their share of the burden and suffered their share of the misfortune. t 4 BUSINESS Ci C. A. MUNNS, ftl'i DENTIST !ntS Suite First 1-- 36 K National k1 Telepnone No IT' 4 JOHN W. PHttlf ABSTRACTS ' -- - BOX INSURANCE Accurate Work, Prompt Aft and Liberal Settiemet . C. H. BRYAN, D. I DENTIST I , , . First National 84 Telephone No. Room 37, 31 1 Brigham City. . Utah I S. NORMAN Bonded Abstracts? i REAL ESTATE, , LOANS, INSU8F r BONDS, r West Forest Sinj' Brigham City. Utah a. 7 O. G. BARGERO). ,rl FIRE DK REAL ESTATE LOANS - SURETY BONDS j r , , Notary Public I , , I will appreciate your.te Thone I I , E. H. MARBLE, Di Office First National Phone Bail . T Brigham -City. Did p t ? for Better For dead and useless Phone ,r DENTIST t -- 493J2. RESPON (tf) BILLHEADS STATEMENTS LETTERHEADS CIRCULARS MENUS' ENVELOPES TAG ENVELOPES NAUTICAL NOVELTIES PROGRAMS During the Boxer Rebellion, Navy men repaired the railroad line from Taku to Tientsin, China, and operated it successfully with men taken from the engineering department of American Naval vessels. ' TICKETS WINDOW CARDS SHIPPING TAGS WEDDING CARDS , CHECKS BUTTER WRAPPED BLOTTERS FOLDERS, etc. 5 We also have complete equipment to do kinds of book binding, stitching, Perorav tabbing and punching. In fact, we are prep to cater to your every, need in PRINTING. CALL NO. 7 FOR AN ESTIMATE Modern (jy4-28-p- 7 9 . (Jy28-a- l) North, Third East. j, I - The Aurora Borealis or Northern house. Light, is a display of light in the upper regions of the atmosphere seen SEE OUR HORTON WASHER Be- in the direction of the north magnetic fore you buy. Petersen Electric, pole; its counterpart is the Aurora Australis or Southern Light, seen In phone 430. (J27-tAustralia and elsewhere, in the direc- FOR SALE OR TRADE One tion of the south magnetic pole. two trailers. A M. Seely, phone 107. . The port or left side of a ship (tf) was called larboard side formerly SUBSCRIBE FOR THE NEWS" but has been superseded by port FOR RENT Police arrested Charles ' i when he contest a music box once owned Lincoln from Paul DuPc r. it for $2. Chicago 16-in- ch mo trade for -- , one-ha- ) d) as I In 1931 over 65 per cent of AmerCHEAP house icas overseas commerce was carried lot. First East, Seventh on foreign ships. (Jy28-al5-p- - y used car, truck CATTLE Taken In on merchandise. Merrell Lumber & Hardware Co. Implement Exchange. In iiT returned home with hwfrK. ' stay here. Mrs. Alston Jensen entertft Recreation club Thursday 1, . at her home. A delicto served to twenty mm four guests at small table! Carlo Whist was the pasted ' afternoon, with high score Lula Rasmussen and cut Luella Jeppseo. , horses. Reverse charges. L Hansens N. la I'.m Rasmussen were J , J a or, a a Tuesday last. ire 111c Mr. and Mrs, Chris Fa spent Sunday at Prest .? rk relatives. S cf Mrs Eliza ct Christen, daughter Lucille, of spent the past i tZr Oluf Johnson, and otM i3X Miss Mary JeppseiTaa ; spent the week with to A ; x t' family, Bishop Conrad w Mrs. Stena Larsen of L the week here as the and Mrs. A M. Jensen, f Bishop Conrad Jan,.. 6 Malcolm, and Miss Man A y. f SjK Lake left Friday for? , Idaho, where they will relatives. Mrs. Ray Carter of pJf L spent Saturday here with T After we had paid the Fair a visit, and had seen the exhibits in the Hall of States, we were sure that Utah had many things of interest equal to the excellent exhibits of California, and the other Florida, Missouri participating states. The advertising value and the prestige of a Utah exhibit would.be very real to our former state. That is why we are making every effort to see Utah represented here. Mr. Pickering has sent suggestions to the governor concerning the nature of the proposed exhibit. "Utah has some of the most beautiful and. important churches in the United States, and has produced some of the countrys leading artists, he said. "I think if the state were to erect an exhibit involving these subjects, it would be well worth while to Fair sightseers. We are. anxiously await ing the governors reply. The principal instigator of the petition to Governor Blood was George S. Romney of Chicago, president of the Northern States Mission of the Church of Jesus Christ of Latter-da- y Saints. The petition was formulated by John K. Edmunds of Chicago. Most of the signers of the petition are members of the Church of Jesus , gone wrong. Christ of Latter-da- y Saints, since that represents the only organized Banks Showed All. Reasonable Care former Utah residents In It was in loans and Investments, group of but Pickering, Romney and Chicago, whose values thus became so Edmunds have been urging all addiimpaired, that the banks, in all tional former Utah residents to write confidence,' in all good faith, in all to Governor Bloody asking his aid humanly reasonable care and good in the matter. judgment had entrusted the billions of dollars of deposits which their cus- because of confusion with the .term . starboard." tomers had entrusted to them. of wooden ships, oak the In. days Those loans and, investments were, was used exclusively in the construcunder all normal conditions, as good as tion of the hull because of Its great gold Itself. Indeed, If the banks, in- strength and because of its resistance stead had filled their vaults with gold to disintegrating effects of sea water. bars, and then some unknown cosmic Oak is unsuitable for use In iron and ray had transmuted them Into lead, the steel ships because It, contains an results would have been scarcely more acid . which attacks the metal. The startling '.than .the depreciation .that oak causes the metal to rust, which in turn, rots the oak. was caused in the assets of the bank , by the unforeseeable economic forces' The New York City police depart-- , which permeated and debased them. ment numbers which is' .The inevitable result was that, when more than the 18,610 men, of the U. S. strength the banks urgently needed the money Marine Corps. . they had entrusted to those assets, so that they could meet MAO unreasoning The weight, pf a shell used in a demands of their depositors, they could Naval gun is approximately in pounds lf not get It. back. the. cube, of the .inside diaIt was not that our banking system meter of the gun barrel. For exam--1 shell will weigh about and methods were of themselves weak pie, a of sixteen cubed, or 204$ or reprehensible, apart from the rest of the life of the nation, as has so much pounds. t been made to appear. Epaulettes and shoulder marks now It was not that our banks were per- worn by Naval officers survive from : ' meated with incompetency or dis- olden days when fighting men wore honesty or with lower standards of metal plates on their shoulders to business ethics than were the other protect thfcm from saber cuts. - , forms of human activity with which their own fate and activities were inextricably Interwoven, as, it almost seemed at times, there was a concerted national conspiracy to lead our people . to ! - , ..-- ter Barbara, greatest disintegration tf human plans, economic conditions and worldly values that history had ever witnessed. These destructive changes cut right through the qualities and values of the loans and investments, the notes and securities in the hanks. Business men and manufacturers could not repay their notes to the tanks as due. Many governmental units and corporations defaulted the payments on their bonds. Property underlying real estate mortgages became worth less than the face of the mortgages. The market values of standard securities became less than the banks had pgid for them as In vestments or accepted them at as collateral for customers loans. This meant, in fine, that the ability of borrowers to carry out the future hopes, plans and good Intentions that I have defined above as the basis of credit, had become impaired to a far greater extent than had ever before occurred In the nations history. The resulting losses could not be absorbed by the banks alone out of the normally ample funds that had been set aside against the expectancy of a certain inevitable percentage of human plans ....... 1 V Guy Rose. Mrs. John m unfore-seeabl- 1 7.i H. SISSON, .CHICAGO, 111. More than two hunAssociation in The Forum dred former Utah residents now livworking people of the natlou were ing in the Chicago area have decided fully employed, while wages and sal- after seeing the Chicago Worlds aries were steady and generous,' while Fair A Century of Progress that repreprices of commodities were strong and their home state ought to be ' whilet the minds of the people were sented at the exposition. . The former Utahns prepared and dominated by faith in the future and a petition during the past circulated confidence in one another. week, urging Governor Henry H. Great Changes Came to the Nation Blood to take personal charge of a Then suddenly, almost as If the sun drive to place a Utah exhibit in the Itself had lost part of its vitality, Hall of States on Northerly Island, it everything changed. Foreign markets was announced last week by J. Frank Lincoln Avenue, 4,900 failed and disappeared. Industry slack- Pickering, a nationally Chicago. Pickering, comof ened. A rapid drop in all kinds Indian story teller and nakpown of The set in. values earnings modity tional parks lecturer, is one of the business fell. Unemployment develmotivating spirits of the Chicago-Uita- h oped. Wages and salaries went down. , , group. Domestic Markets shrank. Fear beWe former Utah people here feel came general. The securities markets that perhaps the present population as the prices of of ' Utah became panic-ridde- n does not realize what a stocks and bonds withered to tractions stupendous thing this Worlds Fair of their former , values. It was the is, said Mr. Pickering on Tuesday. Small preferred. f FAIR EXHIBIT " CASH PAID cows and WANT COLUMN 1 w Mr. and Mrs. entertained Sunday Eliza Chrjstensen L clous chicken din, six guests. Mr. and Mrs Perry were Mrs. Claud Jensen,6 Mrs. Christens Kli at Park Valley daughter and family Banker Describes the Way Loans and Securities of Banks Are Based on the Hopes and Plans of All Chicago Group Petitions Gov. Blood to Act Classes Values Dependent on Public's On Matter. Ability to Meet Obligations Subscription Rates: One Tear... Bix Months. Three Months Mantu UTAHNS URGE Part d) f) j! JOB PRINTING NORTH MAIN STREET - BRIGHAM CITY, VT a I t i |