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M , VOLUME LVII, NUMBER 54. NEWBERRY, S. C., FRIDAY, JULY 8, 1921. TWICE A WEEK, $2.00 A YEAR V1 n J* - ' MELViN L K1NARD CLAIMED BY DEATH COLUMBIA'S OLDEST MERCHANT DIES AT HOME . Had Been in III Health Since the Death of His Wife a Year Ago. Confederate Veteran The State, 5. , Helvin L. Kinard, the oldest merchant in Columbia, died at his home on EUmwood avenue yesterday afterv noon at 2:30 o'clock after a long ill Bess. He was. 81 years oi age, navi?S .been born in Newberry county &fay.?, 1840* He came to Columbia at the age of 17, and except for the period of the Confederate war, he has been connected continuously with the business life of Columbia since 1857, at which time he entered the drv troods store of his brother, the -- --- . , * late John Henry Kinard. :<Mr. Kinard's paternal ancestor ccme to America from Germany, was an American soldier during the Revolution, and settled upon land given him by the government The parents v of Melvin L. Kinard were John G. and Elizabeth Harmon Kinard. His father died in 1889, at the age of 91 years. Hi* War Record In the winter of 1860-61 Melvin L. kinard joined the colors with his. cjoppauy, the* Richland Volunteers, ofie .qf the first companies taken into trvice. He witnessed the firing on I?ort fcumter and throughout the war, iBBjg? *aitiad?red' at jC^Jdsboro, ~N. <&*? th$ verf&Mft' ftt ^ ^r. #ter tlfe cdfttlusiori of the ?ix months' enlistment with the Kichl&nd Volunt^ejfc, hte Darlington Riftes teg fftftt, this company pamcioatea fifit $4ttjtc qf Run. He ^ * soon afterwards invalided* on acci)ttM';of vpneumdtiia, arid sent' to the d jlfe joined PiersofiV company ifc'ffc t^fenty-foiii'th South Carolina, Vfc&t Cbl. C. It. Stevens, and *as MUfk fiiic nnrntviahd in time to uartici- j WMIW vw ^ ? gife; in the Battle of. Secessiensvlle. Hs regiment was then -transferred to tjte^Vesttern army tihder Gen. Joseph E. Johnston. Among the campaigns and .battles ih which he participated wef6: Fort Sumter and Bull Run in ^ . 1861.; Jafties Island and Secesions* #An - ifs lVti?i?isinni. I vuie,- XOO&t MO>nif/aigu >i> * ?. ??*> ??-?f r ., , 1S$3; campaign of Hood And Johnston 16' T^nrtfessee, Georgia aitd Alabama itrl868 and 1864, including the battles of Chickainauga, Missionary l^&e, the tons fighting retreat from I>#iton .to-Atlanta and Franklin and ^ Nashville. "VMr. Kinard was first lieutenant of j l?is company at the cloSe of the war, ** ? ?1Jf? ? is illiic. *nd his worm as a BV1U1C1 to utuu | trated by an incident in the retreat j toward Atlanta. His regiment, as pickets covered the retreat of Walker's division. The supply of .parched'corn in the haversacks of the men had been exhausted for some hours, ^ fcut under orders Col. Ellison Gapers, commanding the Twenty-fourth regiment, held back the overpowering t-.- ".f.fVio Union 1 forces until quxiujga ?.v daylight. The enemy then closed in Vut were driven back by a spirited charge until the Confederates could ctois. a river. v Lieutenant Kinard had been quite ill-for"several " days, but-declined to leave his company. In a fainting condtion he reported to Colonel Capers, and presented his sword, asking ,k<? ftaved from capture. Colonel Wia v * w -w v?. - ?? \ Capers declared that Lieutenant Kinard was much too valuable an officer to fall into the hands Of the enemy, so he dismounted and himself proceeded on foot, requiring Lieutenant Xinard to ride to safety. This Colonel Capers was afterward a brigadier ! general, and after the war Bishop Capers. i?jvUtt war Mr. ! At tnc COnCIUMUH Ui uiiv ttU? v Kinard returned to his father's plan-1 tation in Newberry county and during i the summer of 1865 assisted in putting in the crops. After this he came to Columbia and engaged in buying cotton for some factor*. He saved some $600 in gold and decided to go into the clothing business. He invested $500 in erecting a store building on Plain street, now Hampton, Tfip remainine $100 paid 'icai iuohii A <> the freight on a stock of goods which he was able to get on credit. His business prospered from the very bet?nning, and increased steadily until ftt one time he was recognized as the principal clothing merchant in the state. Last year he incorporated his business as the M. L. Kinard company and remodeled the store room which had been his place of business for so many years. Mr. Kinard was recognized as one of the substantial citizens ot tne community, and subscribed liberally to the building of cotton mills, street railway and other community building enterprises. His integrity and square dealing, combined with good business judgment, made his business prosper at times when others suffered, and he passed through numerous poor crop years, panics and other troubles. His Home Life Mr. Kinard was twice married. His first wife was Miss Cornelia Williams, granddaughter of Judge Baylis Earle of Greenville. She died in 1872, one year after their marriage. His second marriage in 1876 was to Miss Florence Lyles, daughter of William Lyles of Fairfield and sister of Wil liam H. Lyles of Columbia. Of. this union one son and four daughters survive: Melvin L. Kinard, Jr., Mrs. Young: H. Vance, Mrs. Jas. A. Hoyt, j Mrs. Jno. W. Wilkerson and Miss Susan Kinard, all of Columbia except Mrs. Hoyt. All of the children were)' with Mr. Kinard when he died except)] T T*. nrVirt V>ori hppn I ITI. li. XV.xi1c11 u, oa., itiiv called to Albany, Ga., by the serious |; illness of his infant son. Jas. A. Hoyt jis expected from Detroit, Mich., Wed-| nesday. Mr. Kinard was a great "home , body." He loved his flowers and his vegetables. For years h:s chrysanthe- , mums have been greatly admired by , hundreds of Columbians. This was Mr. Kinard's principal recreation and pastime, caring for his plants and . vegetable garden. ] Mr. Kinard received his education , in the classical schools of his comfciuntv. btrt he'was in fa?t a self edu cated man, for he enjoyed reading.! fte had notbeefc in robust health since ] the death of his wife a few years ago, but ' had been going: regularly to the I store for a short time daily until last winter when he began to fail rapidly. His wonderful cOnsttution and his re- ? markable tenacity and courage never yielded until yesterday, when he quietly fell asleep and passed out calmly ahd without pain. While Mr. Kinard, on account of poor eyesight, had not gone about much for some years, yet he was a man of great sociability and enjoyed the visits of his friends at his , store and at his home. He might be termed a pioneer merchant, one of those who undaunted by the destruction in the wake of passing armies and unmoved by the serious difficulties of j reconstructon, set to v.'ork to build a newer and greater Columbia out of the ashes and ruins of the past. Modest and unassuming, he never thrust himself forward in public matters, but he ever took a keen and lively interest in public affairs and wt:s ever ready to encourage, aid and back up any movement for ^ood government and progress in city and j state affairs. funeral arrangements had not been completed last night, but it was announced that the funeral will be held at the residence at 6 :30 o'clock Wednesday afternoon. Good Chairman Hunt . . Associate Reformed Presbyterian. The Baptist Layman's Convention is in progress in Greenville, S. C., this week. Many noted speakers are down on the program. Among them such men as Ex-Secretary Josephus Daniels, Dr. Mullins, Dr. Truett and others. Col. I. H. Hunt of Newberry, S. C., is chairman of the executive committee and had no small part in arranging the convention. Mr. Hunt married an A. R. P. and Mrs. Hunt is taking in the convention with him. The honors are even as Col. Hunt usually/attends the Linwood confer-1-: A ence with Mrs. Hunt. 11 lb ciaiuicu i ! that he is as good an A. R. P. as he is J | a Baptist. j Eptin^-Edgeworth The State, 7th. An interesting marriage was sol f ef Ponl'ci emnized at tne parsonage ui ^v,. * Lutheran church yesterday afternoon at 6 o'clock when Miss Mary M. Ep-! ting of Little Mountain became the I bride of Wayland S. Edgeworth of i Hartsville, the Rev. H. A. McCullough officiating:. < ?i ^-.roo-r, aII.'q\7 from vourself Always im " j ? ^ and in an general direction, with the warp threads first and then across.j SLAYER OF LIPSCOMB CAPTURED BY POSSE Negro Farm Hand Who Killed Dr. Lipscomb at Ninety-Six Home Taken From Greenwood mi rij i iv ine Mate, oin. Greenwood, July 5.-^?Two hours after the fatal shooting of Dr. Lawton C. Lipscomb, prominent farmer and druggist of Ninety-Six, Pink Griffin, a negro farm hand, was captured by a posse of citizens headed by L. M. ' i.u_ J ? J LipSCOIttD, a cousin oi tut; ueau man, . brought to Green-wood and turned j over to the county officers. The ne- ! gro was spirited away from the j Greenwood county jail for safe keep- j ing. Governor Cooper will be asked j to call a special term of court to try j the negTo. A full confession was made by Griffin to his captors. David Machen* another negro implicated, ; was also carried away for safe keep-1 ing. Dr. Lipscomb was shot six times, ( three of the bulletts taking effect in ' the region of the heart. Following- a reprimand given Griffin for 'beating his mule, Griffin followed from' the. barn lot and began firng when Dr.' Lipscomb was a short distance from his house. Apparently Dr. Lipscomb had turned and made an effort to wrench the pistol from the negroes, hands, powder burns- and bullet j wounda in the right hand indicating I such. He was dead when his wife reached him. The news of the fatal shooting of Dr. Lipscomb quickly spread and fully 2,000 citizens formed a posse and literally combed the ni-An/ia anr? swamns for miles around. J TTWUO Witvt w * . w...{ The negro was captured on the Seaboard railway, near Alexander's brick yard, about five, miles from the scene of the deed. Sheriff Cannon Blease of Newberry was telephoned for and with bloodhounds responded at once.": When captured, the hounds were Hot; oh Griffin's tracks. Members of Dr. Linscomb's family urged that the law be allowed to take its course, and the posse1 dispersed soon after the negro was brought to jail. Dr. Lipscomb is survived by his wife, who was Miss Sallie Cathcart of Columbia; one sister, Mrs. G. T. Calhoun of. Ninety-six, and three brothers, George W. Lipscomb, E. P. Lipscomb and J. N. Lipscomb, all of j Ninety-six. Special to The State. Laurens, July 5.?Greenwood officers who spirited the negro slayer of Dr. Lipscomb out of Greenwood this afternoon to avoid possible mob violence arrived in Laurens shortly after 6 o'clock. They al?o had with them ?1? ~ rv> frier or is said tne negro wnu uic muiuviv. to have forced to carry him out of Ninety-six in a car and who is said to have informed the officers of the slayer's identity. The prisoners were lodged in the county jail until some repairs could be made on the officers' car. Then accompanied by Sheriff Reid, the party proceeded toward Spartanburg or Greenville. Deputy Sheriff Owings and four rural police men who went to the scene of the! tragedy after first going to Saluda j and vicinity to- assist in the man hunt returned here tonight. Dr. Lips-! comb was a brother-in-law of W.: D. Byrd and was related to many other Laurens people.' - Dr. Lipscomb was for nearly 20 years a resident of Columbia and for 15 vears was the owner and propri - v *7 etor of the drug: store that still bears his name. Coming to Columbia as a young man he accepted a position as pharmacist at the state penitentiary under Dr., D. S. Pope and Col. D. J. Griffith, who was then superintendent of the penitentitary. He also worked for a time in Fisher's Drug store, later going into business on his own account, establishing . Lipscomb's * 4-ko r>r?ctnflfir?p In drug store ntr<ti wc ^uuw.?v.. 1913, his health failing, he sold his business interest to the Wingfield drug store and moved to Ninety-six, his former home, to take up life on his farm. Dr. Lipscomb was married to Miss Sallie Cathcart of Columbia, who with three brothers and a sister, all of Ninety-six, survives him. * - - j Dr. Lipscomb was a consistent ana | faithful member of the First Baptist .church during his life in Columbia land prior to moving to Ninety-six had been for several years a deacon in this church. He was a gTeat home i ? rit.izen and an IUVcJl* a ! unselfish neighbor and business friend REPUBLICAN HOST I BADLY STAMPEDED DEMOCRATS AND INSURGENTS ROUT OPPOSITION. Director of Budget Giving Orders to Members cf President's Cabinet. Hugh W. Roberts in The State. Washington, July 3.?.Insurgency against Republican leadership in the house and Senator Lodge and Representative Mondell has been exhausted They are helpless if not hopeless. * 1 A1 ? A1, ? ? nn J n# f Vl a /\L Hie UU1CI CiU-L Vi unv. a<vnuv, Gen. Charles G. Dawes is in supreme command. He is head and shoulders above any officer of the cabinet. He has demanded and received authority to enter unchallenged the holiest precincts, and to go over the heads of any and all departments ad libitum. This state of affairs is entirely without precedent. Rock-ribbed Republican newspapers are bitier in their complaint, and the staid Boston Transcript has promised, in a series - ' * * ' t ^1 A. J 1 of trenchant editorials, x,n<*t me majority in both houses teamed by leaders "unwieldly," will be reduced as soon as the people have., an opportunity to express themselves. * The Republican in congrsss with power is Senator Borah, self admitted to be independent, irreconcilable, 1 J - PAnr/iCon _ ICOIlCiaSXIC. in WIC I1UU4C> xw.yifcovi. tative James R. Mann jgof ..Illinois could easily be supreme, were his health good and were h?irable to remain permanently on th<r;flobr. By virtue of the headless condition, Representative? Porter, chairman of the foreign relations committee, h'ar forged to the front. He outpointed Sen>-orro-rrlincr tV>p neaee re ttl/Ul miVA .... r solution but went into partial oblivion and total eclipse when he attempted to sidetrack theJBorah disarmament resolution. Riding to Ruin. t The administration forces rode headlong: to their ruin -when they attempted to "put across"'the Knox resolution, originally framed as a rebuke for former President Wilson and a political issue. The house insisted on the Porter resolution, and congress finally accepted a compro mise between the two which is regarded as impotent. But their total destruction was scored when they stood like a wall against the Borah amendment. In Senator Lodge's committee they managed to "kill it." When it was resurrected by Senator Borah on the floor they brought word from the White 1 House that Resident naraing opposed it. But Borah, at the head of the other Republican insurgents, stood his ground. Senator Underwood rushed the entire Democratic strength to his support. Senator I Lodge thereupon surrendered in the { belief that the amendment could be strangled in the house. The great obstacle faced by the administration forces in the house was j a phalanx composed of more than 100 I independent Republicans, and the entire Democratic personnel. So strong was this phalanx that Mr. Porter, after careful consideration, deemed it unwise to risk his substitute amendment. It died a-boring, therefore, and the conferees between the house and senate had nothing bfore them but the Borah proposition I At the end of the day President Harding sent word to Floor Leader Mondell to withdraw his forces?and this was done. The hopelessness of the situation is illustrated both by the administrations policy respecting: the $10,000,000,000 owed by Eurooe to the United States, and respecting: the pending Fordney tariff bill. Secre* * 11? 1 r>r?ncrrocc tary ivieiion nas unuuuvu that -were the United States to force Europe to pay its obligations, the United States would be ruined becaus Europe, even if it. paid interest, could not purchase American goods. At the same time, the United States, absolutely dependent on the ability and willingness of Europe to buy, r* _ | and associate snd there are many uo lumbians shocked and grieved at his , death. | The body will be brought to CoI lumbia at 2:30 o'clock this afternoon, j the funeral being conducted at 1217 I Hampton street at 5 o'clock this afjternoon. Interment will follow in 1 Elmwood cemetery. [COURT WEEK NEWBERRY JULY TERM SESSIONS j Much Business Disposed of Neatly ??1 W;?k Di*natrh. Officials Hav ! "' ? ? ing Everything in Readiness The July 1921 term of general ses-! j nons court (?onvej.ed for business' . Tuesdr.y morninp, rft-i.- lh<* saleid^y recess on Monday. Judge Frank B. Gary, Solicitor H. S. feHckwell and Stenographer R. J. Syphar at tneir respective desks, with Sheriff Cannon G. Blease, Clerk J. D. Wheebr and other local court officials promptly on hand. The following cases we.-e disposed of: ! S. Jethro Glenn, assault and battery with intent to kill and carrying concealed weapon; not guilty. I Lewis Williams and Bennie Davenport, shooting into dwelling house; not guilty. n?onrl Kaffrprv l j IViarv LUtcu, acsaun auu wth intent to kill and carrying concealed weapon; nol prossed. I Emma Cromer, assault and battery with intent to kill carrying concealed weapon; nol prossed. j Reuben Boozer, murder; on chaingang. James Summer, disposing of property under lien; nol proa. Ben Watts, housebreaking and lar, ceny; continued. Henry Buchanan, disposing of property under lien; directed verdict of' not guilty. Allie Gray, assault and battery with intent to kill; pleaded guilty to | assault and battery of high and ag 1 prepares to raise a tariff wall which j j will deny Europfe the right to sell to \ (the^ United States. It is an axiom j I th?t':thfe nation which can not sell can | not buy." . Tariff Puzzling Dilemma. The tariff presents still another ! dilemma* The- Republican, leaders of the seriate woulcl postpone the en ' LIU Tn?, actmenfc t>l a tar;ir diii. i car | ize that the condition of the countries of the world is not sufficiently ' stable to permit the United States to institute .a new and permanent tariff ! policy?that values are so far from fixed that their change is almost hourly. And yet the rank and file drives the leader and late in October? scarce1y before?the tariff bill- will be enacted. ' T~ +V>n administration | in trie sciiaiC) uiv or Lodge forces proceed in mortal terror of Borah. The situation is exceedingly happy for the Democrats. 'In any crucial test they can line up with Borah and his faction and put the Lodge crew on the run, for that * i i crew, as demonstrated in tne aisarm'ament fight, prefers to run rather than go down fighting for a principle. J In the house, an identical state of , affairs would exist were the insurgents headed by a man as strong, as , honest and as able in oratory as ' Borah. While a Lancelot is missing, the insurgents are feeling their - ~ ~ i T> ^ j strength. *rne iuu newiy eiecteu xvt;. I publicans, after issuing a statement ; that they were tired of a "do-nothing" house, and the intricate tangle of leg, islation as a result of red tape, met ,1 in caucus this week and ordered Leader Mondell to appear oefore them. This he did. He promised the ; new members recognition and applied "soft soap" in copious quantities. . ? There were eloquent expressions ui -complaint and dissatisfaction, of | which Mondell is said to have taken terrified cognizance. Dawes Takes Charge In administrative circles. General Dawes has taken charge. He is in supreme command. He has jr.form; ed the cabinet that in reorganizing j the innumerable bureaus he must , have a free hand and that there must ! be no handicap placed in front of his * ? ?^ c? " j "honest ana nonpartisan cuuiuo. J In addressing the cabinet, at the 'head of which was the president. General Dawes did not indulge in ." his "Hell and Marias," but he jumped! 'from one end of the room and back again, banged desks, talked with the J I bark off, shrieked at the top of his voice?and made an impression. ! I TT_ fnrrpful man. ad j XIt: is wic inuuv i mittedly, connected with the government. If he succeeds in his undertaking, he might make the Harding j administration one that will stand out I in the history of the country. There j . is already speculation as to whether ( f this man, depended upon to bring or der ouc 01 cnaos, wm nut, j/iu?c imu' self, in the long run, to be a formidable contender for the presidency. gravated nature; $25 or 30 days. Allen Thompson, Robert Trap and Nathan Alston, housebreaking and larceny; continued. SeDhus McDowell, assault and bat tery "with intent to kill and carrying concealed weapon?three indictments; pleaded guilty to assault and battery. Two months in each case. Sephus McDowell, violation of dispensary law; pleaded guilty. Six months. After service of 30 days and payment of $100, balance of sentence to be suspended on good be havior. John Hiller and Sam Glasgow, violation of prohibition law; pleaded guitly. Twenty days in jail. George Wise, Henry Wise and Willie Johnson, violation of. dispensary law; all pleaded guilty. Six months each. Upon expiration of 30 days' service and payment of $100, balance of sentence to be suspended on good behavior. i D. G. Gray, assault and battery with intent to kill; pleaded guilty of assault of a high and aggravated nature. $25 or 30 days. Oscar Tucker, assault and battery and carrying concealed weapon; continued. Tom Griffith and T. C. Werts, viola- J i tion proniDinori law, cuumiucu. I Oscar Henderson, obtaining goods I under false pretenses; pleaded guilty. One year. Mack Connor, abduction; pleaded guilty. Two years?sentence suspended as long as the defendant shall stay from the girl in question and during good behavior. Albert Ruff, abduction. Two years or $100 fine. ( Spencer Robertson, disposing oi property tinder lien. Continued, f . Dock Wasson, reduction. Nod I prossed. , . ; 1 Callie Davis, assault and battery with, intent to kill and carrying con cealed weapon, Continued. , George Reeder, assault and bat- ' tefy. with intent to kill and carrying concealed weapon. Continued. j Tom McCants, rape. uontmueu.< I George Hawkins, assault and battery with intent to kill and carrying concealed weapon. . Continued. Johnnie Sims, alias Johnnie Means, rape. Continued. Eddie Wicker, abandonment of wife. One year. Will Brown, assault and battery ?ir4fV. infant to till. TiWO V ?rS. vr ion aivv/iiv w * . _ .. _ ? < Elliott Turner, petit larceny. Ten ; days in jail, with privilege of the fa-1 ther of the boy whipping him in the presence of the sheriff, when sen- j tence will be suspended. As we go to press the case against j Marshall Berry, for rape, is being tried. ] Blood Hounds From Newberry In Its account of the murder of Dr. Lipscomb the Greenwood Index-, Journal has the following: As soon as he was notified of the 1 flight of Griffin, Sheriff E. M. White' notified every sheriff in adjoining1 counties. He stated this morning that the long distance operator gave him connections at once and no time was lost in telephoning. Sheriff Cannon Blease was asked for dogs, andj started four hounds in a car at once. He was met at Chappells by R. E. McCaslan in a Mercer car. Mr. McCaslan made the trip from Chappells! to Ninety Six in thirteen minutes, it is said. The dogs headed by a mas-j sive bloodhound, the skin on whose face wrinkled in folds and whose drooping ears almost dragged the orr-onnH when trailing:, were carried J to the plow Griffin had left and allowJ ed to smell the plow handles. They j were then carried to where he had ' gotten out of the buggy, and there I they struck his trail. With a small red hound baying intermittently and the wrinkled old leader of the pack frc'iinor +v>p flicrht. of the ne-; BUCllLXJf uauiiif,, wiv ..-0.. . gro was traced by hundred? of men in shirt-sleeves, armed * ith every, i conceivable sort of we? jon. They streamed behind the dogs for over a j I mile, attempting to keep up. Fat grocers sweated, puffed and plowed through cotton rows behind lean bank clerks in wilted white collars, beneath a torrid summer sun unobscured by the slightest cloud. As numerous as . was the crowd following the dogs, j hundreds more were beating the; woods on all sides and watching every road. When captured, the hounds were hot on Griffin's trail, about a, mile away and fast gaining on him. i f 9 WOULD LIMIT RATE OF RESERVE SYSTEM REPRESENTATIVE FULMER BELIEVES CHANGE NECESSARY Member of Congress, on Way to ^ Orangeburg, Discusses Bill Introduced by Him i | mi_ _ r?x _ x ^ ine otate. Representative H. P. Fulmer, who was in the city yesterday on his way home to make an address at Orangeburg on the Fourth, is very much pleased over the reception that has been given to his bill to limit the rate of interest chargeable by the federal reserve banking system. He declares that this great centra] bank has piled up many millions of dollars which are not useful to itself and have been taken at a real deprivation to the ?11 V>r> /imiTifrv an<j "VlPlT SII13U UillllU Ui tuc tuuuwi ji uiiu >..? customers. Mr. Fulmer says that this bill has started a great deal of action in Washington, and he believes that favorable attention would be increased if the bankers of the country would write to the members of congress and urge its passage. Himself a banker, Mr. Fulmer feels that he has a practical, common sense remedy for some of the big evils of the day. 1 Wants Five Per Cent Commenting upon his bill, Mr. Fulmer said: "I believe that if the high rate of rediscount charged by the federal reserve bank is reduced to 5 per cent it will do more to bring about a revival of business than any other one thing we could do. "It is generally pointed out that -it ?r;ii Ko im-nnssible to reestablish jiot mal conditions and bring about a revival of agriculture, cdthmefah industry except by a lowering of tiie rediscount rate on agrictfltttfid \ and commercial paper to from 4-.I.-2 per cent to 5 per cent. I .believe that such a reduction. is a great national . . necessity, a world necessity., - a&d it is only in this way that proapefity v, be promoted in America and. that Europe- can begin to reftaDmiate. , ."Everybody knows that t^e ltestriction of credits and the extfglitt high discount rates have stagnated ^ridustry and commerce and paraded agiiculture. V"I am sure that I am vpifcing the conclusion of every bank ntifi in the agricultural sections of America in asserting that, if the bankers obfcy the law in regard to the fates of interest that they are allowed to charge their customers, under the national hankinsr laws, and are at the same time forced to pay such high rediscount rates as are now charged by the federal reserve banks, they will have to go out of business. That seems to stare us in the face as a certainty. "The people of the United States understood that the creating of the federal reserve bank system meant the financial salvation of America and her people, by being able at all snH under all circumstances to l/llll VsO utts* take care of any situation in any section of our country, and in a manner that would not only hold up a panic but in such manner and at such rates of discount as would make the member banks financial strongholds. All of which would mean so much to the building of good roads, the educating " 1 ~ rUvplrmment of oi me peopic aim wv .?r __ our national resources. Unreasonable Rale* "If you will read the combined statement of the 12 federal reserve banks made at the close of business May 25, you will be struck with the indignant feeling that they have violated right and reason by charging unreasonable rates of discount to member banks. That statement snows that, after paying 6 per cent dividends to the stockholders on a paid-in capital of $102,173,000, they have a surplus of $202,036,000, besides $35,271,000 reserved for government franchise tax. "Congress seems to be long on ere ating departments and appropriating large sums to be spent by th*m, and, after making these appropriations, in setting aside for them sums of money in the way of contingent funds, allowing them to spend not only these but to come in at a later day and secure still more under deficiencies? whch is borne out by the passing yesterday of a deficiency bill canying (Continued on Page 7.) I