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Show A HIE SALT LAKE TRIBUNE, SUNDAY MORNING, MARCH 32 A TOHFOnG BOVK PAYMENT Installment Buying Era era " J and Federal Reserve Systems May React These New and 14, 192G. GOOD lUBNITUBE BOLD BIGOT. L-- OLD IDEA REVERSED. Former secretaries of commerce, ir d (P QUALITY, VALUES, CREDIT Come See Marvel CHARGE! ALTERATIONS Save at Callaways GUARANTEED SILVER Newer, Different Design. Actual $7.50 and $9.50 Values Thrifty liouvkrrpers as wrll those contemplating the purchase of Anniversary, Birthday or Wedding Gifts, will find this sale of most timely economic interest. After these special lots are disposed of such pavings will be impossible. Buy now! New Sugar and Cream Set Gold Plated Flower Center Novelty Flower SEC OUR - WINDOWS taxation is now treater than the taxes were. disappointment. klnd that af?!U tod ue and ciher tlmea further183,Uuk-t- he at various re.it. safeguard Wo have is the fd-eireserve ejatero. It la common I It la aubstantlallv true, 2 the federal reserve aye tern will make some klnda of panio and depressic n entirely Impossible, and will and aoften all klnda. Thla aavrtion la aubatantlally true. It la subject, however, to one exception. The exception Is so miKh In the nature of that aume would any itcontingency need not be mentioned, or ought not to be us mentioned, even a small defect In the beneficent safeguarding character of fne federal reserve system. Thoughtful bankers and economists, however, in autvev-In- g the future, do mention it and take account of It. Without aping too deeply Into the technical aspects of the fedoial reserve system, the contingency apprehended would arise. If it should arise at all, with the recover f Europe. Just now America haa an enormous stock of gold, something like ROADS. INSTALLMENT The one field in which there has half of all the gold of the vv.irld With the Industrial recovory of Eu- been the greatest amount of installthat continent will begin to tnke ment buying, is not automobiles, nor rope hack its gold. In the course of time The any other ordinary commodity. one field of installment buying in we shall lose much nobody can say how Just much. We may lose so which the practice without anv question whatever has been pushed too much that we may be suhjeted to threatened inconvenience We may far. the one field which most certain- not have enough gold left to provide ly contains a menace. La the buying of an adequate gold reserve for al our roada The immense road building, curenev and banking needs. It Is at and the high taxes, and the borrowing this that some students appreon bonds mhich accompanies road hend point the In contingency may arise. building are not ordinarily classed BATTLE EXPECTED. the field of Installment purchases but that is what they are. EveryThe apprehension was put In words buildroad the that body recognises recently by a financial orgj.n: ing to excess and the accompanying "We are In times of fair weather taxation to excess constitute a dan- protected by far more than our due ger of their own That It should In-be Hh&re of the worlds gold. Vmlor the looked upon' in the same light as terms of the federal reserve law stallment buying seems novel It mas are erecting a structure of credit first put that way to the writer by which Is safe enough now, but may an Englishman who bad come to be a source of danger a hen the world America on a mission from London returns to normalcy, when it is bankers to survey the economic and enough through the rebuilding strong of its business situation in this country trade to call back Its gold. In JS7G When he classified the excessive road we fought the battle of gold against building as Installment buying, he greenbacks, and sound currency won meant that states, counties, cities In 186 we fought the battle of go!d and smaller districts are buvlng good against free silver, and sound curroads on the installment plan. That rency was again victorious oome dav is to sav thev are building the roads w shall have to fight the battle of and paing for them by borrom Ing gold against federal reserve notes. monev Thev borrow the money bv These notes are secured bv law on But issuing bonds, and the bond will fall 40 per tent gold hn these due from year to year for periods federal reserve 'paper coins, as ranging from five to fifty years to Charles N. Fowler, one of the soundest economists who ever uit In the come Unhappily, among other disadvanrepresentatives, calls them. y state hanks as reserves tages, manv of the roads thus built that the same reserve will have been worn out long before haa been is of bonds used the twice over. In practhe last Installment due. Ex Governor Ferguson of Texas, tice, there Is no limit to their posof sibilities We want the inflation the Pa partner In the Texas govworld to return to solvency, so t.iat clevernorship, once put this rather four-yeWe are buvlng it may buv our gooda' But when It erly. He said does It wilf take back its rold. We bonds ' roads with forty-yea- r One unpromising feature of the shall have a gold basis which cannot be enlarged, with a credit strucwhKh economic country system. of bank f fat which ultimately ought to he obvious hut apparently is ture must collapse This is no mere acas of America local is the not. weight faxation thati. Jie weight of taxa- demic suggestion. Admirable ss the seralcea it In fields other than tH$ federal performs have oen, there tion government Turing the years 1020, is Bryanlsm in our federal reserve and within the nett eight 1021 and 1&2. nothing was more comsystem, ears we may well see a fight fo exmon than to be told, and to be told If which will make the battles truly, that the weight of income taxes pel f1876 amt 1894 look like mere and other federal taxation was an impediment to business. The whole The greatest of the safeguards of country waa alive to the disadvantage American business is the Intelligence to business inherent in the amount of income end other taxes that Wash- - that is In It. and also in the e collecting Stimulated by tact withdepartments tngtirw business. One 'ortVnlv by repeated warnings of this fact and to bay about the lersHC thing pleas from President Cool'dge, 8rie-tar- safe Mellon and others, the federal units Into which business has tended consolidate lately Is that thvj government at Washington has prac- to of the high- ticed economy and has reduced the make more and more use and more they federal taxes to a point where they est intelligen. Mre acInformation The employ handiexperts. are not regarded a a serious quirer hy one organisation I quickly cap on business. st the service of other The heads LOCAL LEVIES RtC f businesses understand not oniv Rut In the meantime while the fed- their own line hut also (he condieral government at Washington lies tions of all bustn and the world been reducing taxes, the states and conditions that affect ail business counties and cities have been Increax- - The keeping of accurate ds hue in- Ing taxes and have been increasing icreased greatly, the meaning f sta even a faster than the pace thm at tietkrs Is understood Through tret federal government has been redu ng aaeos latione, chamber of r nnmerre therrv Tha fact I that the tots) taxes end the like there la prompt of the eourtry are tndwv much henv-le- r change of information In the govthan thev were in 121. In J21 ernment department that ha.e conthe total weight of the cost of tact busmen not ony in here ment f all kinds waa about nine bil- ability in the bigher nfricea:' !n tne It la about eleven course of years expert staff lion doiiara In 7av ThaL-ii- e to aav the grown up billion dollar It wootd be hrpanmble total of tha country taxes U greeter to match In any other country st the time when toriar than it w possibly In some rm--'cievervfcndv seemed to reeocnlie the the ability, ad weirht of taxation as a handHsp to rhnlml. that Is concentrated In the most Import xnt fcirwJ rkerva system, the traerur. This is bijetneaa fact. Yet government officials and the department of commerce and tl commerce coo mhssion Jt onrernd intereta others who are rteeplv troe to anv th4t net-- r In about It, complain that it areme clerv to the to get think American bte'orr wa the a inamir public about it. hn the fedra! taxes truturn both a reenert w( r on hi li t iteinea apd ag reepect government so large aa to he a common jdvpnrtmani v vtj aM manti, the papers aod r f ta X of the peop, were futl of If Hit frre rht g a o.m' In of qiluk end Inteiugrnt an n bolT ae m to ta d4t.Kn to seed the- fact lHaA the aggregate ef lucai .'i1 tht-H- $55 to9x12S65 or RUGS 0-6 o al PAY ONLY $1.25 WEEK OR $5.00 MONTH - THE FAMOUS LLOYD BABYt carriages! to $12.50 Values $ Included are Well and Tree Platter, Double Vegetable Dishes, French Pastry Trays, Cheese and Cracker Dishes, Double-Handle- d y Fruit d Flower Baskets, Spring Handle Roll Trays, etc., etc. Bowls, the newest features and im- - PAY ONLY provement that mean smooth, easy riding comfort for Baby. Longer service and greater value. Let us phow you. i 501 Axelrad Price $24.50 WEEK iiiiiiimiiiiiiiimiiiiiiimiiiniiiiiiiiiuiuiiiij HONEST WORK OUR LOW PRICES And Quality Service Are Possible Only Because We Treat Thousands of Satisfied Patients Annually. bl the in Dentistry at Lowest Cost, Come to Us, where If you Satisfied Patronage is Making These the Fastest Growing Dental Office in the Intermountain West. EXAMINATION FREE NO OBLIGATION INCURRED. l L te g'e ter I I vo lntvt , I uhai-g.n- i AI y Guaranteed SILVERWARE Jj g Including; Heavy Axminsters and Fringed Velvet. Latest patterns and colors. Axelrods Price this week. (Guaranteed Perfect.) Am,'ritarhJiealrajf In 15HJ7, In I'.' Your Choice Sizes fed-er- a! that-hav- Pair Candlestick Etc., Etc. $10 creates a very lArge number of additional credit dollars and to that extent, has some of the effects of Inflation. NevertheOesa, if the chain la n..f Interrupted or broken, there willcon-he no considerable loos to any of the cerns engaged In installment selling and It need have no hajxnful effect. it must be conceded however, that Interruption is possible, that there may be a business depression of one If there should degree or another be a depression. Installment buying bo would likely to add to its and length. If any one Industry should begin to lay off workera, the workers would be unable to pay the Installments on the goods thev have bought. The cessation of installment payments would. In turn, nptke trouble for some other industry. and we should have the case of falling cards The possible gathering momentum social and political effects of considerable millions of people with their wAges mortgaged in advance and unable to pay, is a cause of apprenen-sioThe most to the thoughtful hopeful fact about installment selling and Its dangers. Is that so many people are matching them and guarding against them. I e. 14-in- ch Actual tend thla groat undarprto. Ing avont aarly and avoid n - FRANCIS S Fortunate la tha houao- - S Icaapar who haa poatponod g Rug buying until now. M Such low prleoa will ora. ato a llboral tfamand. At. g Is Salt Lake and Pocatello 19 BAST BROADWAY F. Johnson, declare that urgng the poor Into debt, or Installment buvlng. Is the vllcRt system yet devted to create trouble, dwufitent" and unhappiness among the poor HARMLESS. SOMETIMES In surveying thi innovation a an Influence future will lament that comMtton. we must obviously consider view If there is no of both points depression in bueinea. If there is no If things considerable unemployment. go along evenly, everybody who has on installment the plan is able bought end- - willing to pay when the installdue come under that set of ments circumstances, tf that is to be the way to are turn out, there going thing can be no particular menace In inof is. Jt course, an stallment selling addition to credit in the country. It 8 TO YOU House of 66 South Main Basket New Cake Baskets New Sandwich Tray Baskets Large fry foe delivery on when you Liberal Credit 8 8 CONCESSIONS WE PASS THE 8 : SAVINGS s ALONG 3 TREE .A Extraordinary Special Purchase One early comers and pick the best, 9 9 You. Always 4- BOUGHT AT GREAT 10,000 others! Great Sale Tomorrow! Lot Be among the I believe lor Style, Quality, VALVE, these Dresaee, Bulta and Cast are without parallel anywhere and I want every woman in thle locality to PARTICIPATE!! Come chare In these LITTLE PRICES and CLEVER STYLES. Have no thought of CASH our Easy Pay Plan will prove a DELIGHT to YOU, u It li to g Savings and Regret! Sol Jacobs Says: 'oust oflloUSCKOJTSi CAIXAVVAYMOOCK. Great I Dont Delay fur-ela- The Store That Always Sells for Less M Mile. High s Quality Again Liberty Emphasizes Its LEADERSHIP in STYLE;, but iwhidh would cost less than similar goods coming from Kurope. Ixw price were to be the key to American aikorese in foreign fields, not conformity to foreign was In many lines the new seeme to be successful America plan Is South America and other parts causing of the world to want nerlcan g'xxls America is selling more automobiles In n markets than all the other manufacturers In the world combined. teylng to achieve export trade for American manufacturer, steadilyad-wlwthem to conform to foreign demand. For ten years, until recently, the urgent advice of former eeoretax-Je- a of commerce to Amerlran manufacturers was to study the peculiar demands of ttouth America and and to conform to them to ronite Juet the kind of goods that foreigner are accustomed to, and to their prejudice and old customs a reaped packing, color, design and that sort of thing Secretary Hoover reversed this, and grave American manufacturers advice and leadership based on the lesson of quality production, exemplified by the nonsaeful experience of Henry Ford. American factories were advised to truvrie one model, make It in bus Quantities, and thus be able to sell it at a low price. They were told to provide fore lam era with goods of hloh In the country, the Endioott-Johnso- n the models might be unfamiliar to Shoe Manufacturing company, George N FACTORY SAMPLES them, SYSTEM ATTACHED. One of the recent developments in American business that Is being sharply watched is the installment payment plan frr the sale and purchase of automobiles and other consnoditlea Many of the public utterances about it amort that it is harmless, that it contains no meiuioe. Some decidedly contrary views, however, are made public from time to lima In discussions of It one gathers private that there is rather more apprehension about the new development, rather more concern as to what will be the next phAne of It than unqualified approval Most of ths published utterances are from the seller point of view. They go on the assumption that If the sellers can escape without loss the Innovation is all right Occasionally, however, thoughtful persons, in industry and out, oall'atten-tlo- n to another side of it The president of one of the largest corporations Truck Within THIS WEEK! SENSATIONAL! DRESSES ' Freight Within Just in Time for Your Spring Refurnishing Plan GOATS, SUITS I" We Ship by 300 VALUES in SAMPLE By MARK SULLIVAN. ASJILNGTQN, March 13.. During the first week March, uhen the severe declines occurred in the prices of some, though not all; securities on the New York Stock Ksehange, and other exchanges, President Coolidge, Secretary Mellon of the treasury, and secretary Iloover of the depart-it- i frH ment of commerce, all made allusions to the general busftiess situation. From the White House, in faet, came two This and on separate class. other circumstances during that week and the week that lias intervened have caused a sharp focusing of thought on two fields, business and polities, and also, particularly, that middle ground where business and politics meet and overlap. Tiie tenor of the official comments and other comment generally coincides with it is to the effect that the events on the New York stock exchanges came from causes having only slight connection with general business; and that there is Mark Sullivan. no visible reason why business should not continue to be good. This view was tempered with a minor element of cautious apprehension, lest the fall on the stock exchange have at least a psychological effect on com modities, and on the volume and activity of business. There are weverai namr condition either now prenent, or about to develop. Of these the most hopeful la the expectation that Aimerina It about to do a great export bulne; that the aorplu capacity of American factorise can he sold abroad If thle hope la fulfilled It still be largely due to a new policy of the department of commence under Secretary Hoover Secretary Hoover, indeed, end the department of commerce, are responsible for much that is hopeful In present American business. s s We Prepay Supreme . Sullivan Sees Possible Battle Between Gold and Paper Coin Within Next Eight Years; Conditions Change,. rn illlllilll To Ef&d The Tribunes Classified Ads I to Consult Authonty ,1 |