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Newspaper Page Text
to negotiate the desperate swoops
and turns by which the most thrilling
feat of aeronautics is accomplished.
Beachey has determined to quit
flying on the announced ground that
the example of his dariHg was send
ing other less experienced birdmen
hurtling to their death.
But the challenge of Poiret to the
rest of the world was too much for
him. What a Frenchman could do,
an American most certainly could do.
He began by taking sharper and
sharper spirals, until finally he
crossed the death-line between right-side-up
and upside-down in the air,
with"infinity beneath him and the
world at his back.
BIG CHICAGO BANKER SAYS THE NEW MONEY
LAW WILL HELP BUSINESS QUICKLY
Edmund D. Hulbert, one of Chi
cago's big bankers, and vice presi
dent of the Merchants' Loan & Trust
Co., takes an optimistic view of the
business situation and the effect of
the new currency bill on the country.
Mr. Hulbert is one of the big bank
ers of the country, who, instead of
knocking, has done all he could to
help President Wilson fix up a cur
rency bill that would help the coun
try. Banker Hulbert made the follow
ing statement to The Day Book to
day: "The new currency measure is
bound to be a success, because it was
drawn fairly and in the open," he
said. "It's passage should bring in a
Christmas spirit of optimism to re
place a feeling of depression that was
based on nothing at all."
"It will take at least three months
to put the new system at work, but
business will not wait the complete
organization of the new federal re
serve board and of the regional re
serve banks. In my opinion there
will be a response within the near
future that will mean increased busi
"Much of the success of the new
system will depend upon the charac
ter of the men on the reserve board.
But the country knows that the
president will appoint only high-class
"The ultimate effect of the new
system will be good. The Owen-Glass
bill, even its most bitter enemies ad
panics. Banks will not have to be
quite so conservative; there will be
a moderate expansion of credit, and
within a short time business houses
whose stocks are now nearly deplet
ed, will become active" buyers."
Hulbert charged that much of the
opposition to the new currency law
that was partially responsible for
business depression was insincere
and fostered by New York financial
powers that felt that their control of
the money market .was in danger.
"The objection that if the bankers
were not allowed to name the re
serve board;,, it would bo dominated
by a clique df politicians was pure
political buncombe for campaign pur
poses," said he. "Under the present
system, with a single man, the comp
troller of currency, directing finan
cial affairs, how much simpler it
would-be for politicians or the presi
dent to play politics."
Hulbert, it Is reported in Chicago
financial circles, is on a tentative
slate of members of the new federal
reserve board, prepared by President
mit, creates a machinery to avert j ployed.
Pittsburgh cops are advising wo
men to tote their money in their
stockings while doing Christmas
shopping. There'll be some awful
scenes around the crowded counters,
if they do.
Los Angeles. Secy. Williams of
Socialist party wired Gov. Johnson
demanding special session of legisla
ture to provide for 100,000 unem-