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V- V : THE BUATTLEBOltO DAILY REFORMER. SATURDAY AUGUST 20, 1021. DALE ATTACKS WAR FIANCE MEASURE Administration Plan to Help Agriculturists Is Dangerous ONLY COMMITTEE MAN OPPOSING IT This Legislation Adopted as War Meas ure IJill Ambiguously Worded and (Jives Government too Great Liberty With National Funds, lie Says. WASHINGTON, Auk. 20. Vigorously denouncing the policy of reviving and fur ther perpetuating the powers of the war finnnep cornoration for the purpose of '"financing a concern to go into the busi ness of taking chattel mortgages on hogs," Congressman Porter II. Dale or the sec ond Vermont district, in the house stood out alone of the house banking and cur rency committee in opposing the passage r,f the senate bill for the relief of produc ers of and dealers in agricultural prod ucts, and sounded an impressive note of warning against attempting to inflate in dividual and corporate credits by draw ing upon the federal treasury. "If we would put a V.ttle less thought on how we can make certain interests think we are attempting to aid them by artificial methods," declared Colonel Dale, "and a little more energy into improving our federal reserve system to meet pres ent conditions, it would be more reason able and more in line with common duty." The Vermont congressman said in part : "Mi. Chairman and gentlemen: You recall verv well in the spring of 1018 the comii ions urn exis. -u 1,1 1 then this corporation is thereupon to make TheUermaii army nan ow.Keu mm uu t - i atlvaucis to anv lirnl wr,wrati,ii. and western trout aim ve v,u- ,,,., 1 s) 0 (;entIpmeil 1()(lU at it. Tluit is the grearesi Sircs 1 Mit-um y.-t ,lf i,MW ,.nll,,.,tif!il niiKtmct nn 12. 13 .14 IS l I7 lo 13 8 . r 2.' 7. I I 23 2 5. ' 29 44 45 3 -33 43 . 3b 3b 42. S8 ( fty vi '-7 ' Draw i end. What has Willie drawn? from one to two and so on to the United States, or there is a lack, of market for the same even, what then And the ordinary facilities are inadetpiat that is. the banking facilities, of cour: to enable producers or dealers in sue products ta cany them until they can exported or sold in an orderly manner the hould say. the strain . .1 K. .....1 ..ninl.iTitv ti tl:n limit .It Ol IIOUOL illlU Jiri ihaui ....... that time or any during the war ; and un der these unprecedented conditions con congress passed an act which required ... . , 1.. r.f legislators to an: 1 ..on -o.imiu,. - u..innot sH1 ,vithot a riot? I that what it means? No; that is the only language land unbiased authority. When dealer cannot sell 111 an ordinary orderly man tier what does that mean? When the cannot sell with gentility? When the rensoninsr and to think only of using every resource even the treasury of the United States to spur producers in this coun try to put out their products. What for? For national defense, for natioual se curity, to prr.secute the war. "That is all we did it for. Congress put together what was intended to be merely the machinery to make loans to concerns wiiose products cimuiuuiru i; the prosecution of the war. It was a cor- j porn t ion furni.-hed from .the treasury of j t!n I'nited Slates, if it were necessary, with .SoOO.IMKUMH) in capital stock, with I the authority to issue its bonds, as the. chairman of the committee has told you, to the limit of S4.0KU KM l.UOO tax-exempt bonds. In fact, it was a temporary frame work with which to do what could not be performed by a substantial structure a corporation to meet in time of war what the banks would not meet and it was composed. s vcm Know, or me secreiari of the treasury and four others. It that they could purpose of it. their price ! and when by devise to cover up the When they cannot get That is the reason for it any banking methods they be 'cannot hold their products until they can do it. then the money to enable them to 1 do it shall be furnished by the treasury 'of the United States out of taxes paid by I men in other lines of business until they can get their price. I "What security is given for this? ISonds? No. Notes, full, adequate, they say ; notes indorsed, guaranteed by pledge or otherwise, any old way. liacked 1 s collateral taken at 7-" per cent as in the original act? No; face value. Again, under this bill the finance corporation may purchase notes, drafts, bills of ex change or other instruments .f indebted ness, secured by chattel in -n-tgage. ware house receipts, bills of lading, or other .iuiiiii'iiJxiWi-L. m vtitins. c inveymg title-to empowered and authorized to advance ou,The (1)rs an. vi(,p n TR1 treasupv notes of hanks, bankers and trust com- jof thp Uniu.( States is tinancing a concern panics wlucn would loan to any firm, cor- to g() int() busim,S55 of taking chattel limi t -poration. or person whose operations werp'ga,(,s (n ju necessary or contributary to the prosecu- 7.Ah( hut t;oro ;s n ;,rit hpr Thpv tion of the war, and even under these cir- My that umer this b;u you use ft;r c-.imstances the value of the collateral ti this purpose onlv Sl.(MMUK)0.tH)0 It i-J these loans was restricted to i. per centij: it j to Sl.(Ki().0(K (HKi for the nr,i; purposes of its face value, and we specifically re-1 stneted the time when tins extraorumary ainee the davs corporation should stop operations ami begin to liquidate to six months after the President proclaimed the end of the war. "Now. when the distinguished leader of the Democratic side (Mr. Kitchin) at' that time presented this kind of legisla- "" 1 , , V v 'inis nouse mat vou are going to pass it he said it was so radical, fo unprece-, All(1 then w,,at nre vfm jh tf w denied. vi iiuiiumnan.. r , ...... ln n toxv , avs hnvmir so eomn etelr i.nt the prediction of the centleman from jOhio, you are going to meet the prediction ic;f the gentleman from Michigan when the bill conies in from the committee on in- and this is what we have come when men who were accus tomed to debate in the house said they had to forget all normal reasoning in order to vote for this bill in its original form when its sole purpose was to prosecute the war, a purpose now wholly submerged in these other purposes. Hut you are going to pass the bill. I know by the temper of so economically that the mini of even the would hesitate to took issue with him was given general revolutionary most radical j endorse it. Nobody- en his statement. Itj reiteration at that t!lnP- ,. . , Iterstate and foreign commerce with this "There were two predictions made re- provision: The war finance corporation specting that bill, three and a half years :aot is furtht,r amended, and so forth and ago, to which I want to call your atten- so fortll s0 that the c;,rj,oration win b(l tion today. The gentleman from tJlimjoniiiowoml to purcliaso railroad bomls or (Mr. Fess) said: "It will not end with notes cr other smiritif,a at an agCreKatP the conclusion of the war It will come purchase pr:ce not to exceeJ s,J00,Oo0,ooO. nit a jmr nun uir iuuiiumuuui iu mac wav vou are jroinz to carrv out , . 1 . . . ' . . 1 , . .. 1 . 1.1,1 rill f.l . .. .. -. ' II is dangerous, UIm imiu, xuu The gentleman from Michigan the conclusion of the war. 1 jn ,' and so forth, and so on. (Mr. Fordney) said that in his candid opinion the real purpose of the bill was ultimately to furnish money to railroads. That is what he said about it three and one-half years ago. "Well, this war finance corporation fulfilled its mission, and if it bad stopped when it was intended that it should stop, though extraordinary, it would have proved valuable as a war auxiliary. 15ut when that time came congress had become somewhat accustomed to this economically revolutionary method of raising money, and we extended the time, anil we em powered and authorized the corporation to make advances to any firm or corpora tion eneasred in the business in the United States of exporting domestic products whoj were unable to obtain funds upon reason-; able terms through banking channels, or, to any bank, banker, or trust company who loaned funds to those concerns. "What was the excuse? Not the ex cuse that was submitted for creating this abnormal institution in the first place, namely, the prosecution of the war. No. J We had long since passed that necessity by reason of our army, victoriously. It was in order to promote commerce with foreign nations through the extension of credits. See how we had gotten away from our original purpose. And mark me, gentlemen, there lies the danger today. Not half as much it is by the inflation of currency as by the inflation of credit that this nation is imperiled at the present time. . . . "When with our new and powerful fed eral land bank System, whei with all other kinds of financial institutions, you have to empower a corporation to advance funds furnished by the national treasury to bankers, firms, corporations and asso ciations who cannot obtain them thraugh anv banking channels. in order to do what? To inflate credit. There. I say, lies the danger. It may be avoided. It may be one or two or three years before we come to it, but the risk is beyond the taking by a safe pilot. "Now, almost three years after the war, we come here to revive and rehabilitate this old procedure again. What is the purpose of this new and extended power that is being asked for? Whenever, in the opinion of the directors, conditions arising out of the war and all financial conditions now where there is perplexity have arisen out of the war of course when such conditions have resulted or when they may result, when it is even imagined that they are coining, and that an abnormal surplus has accumulated of any staple agricultural product in the that the second prediction. CHURCH NOTICES. Swedish Lutheran church. Tier. O. Cassling. pastor. Services Sundav morn ing at 10...0 by Ilev. Axel Lind'wall of Chicago; 7.o0 p. ni. by the church pastor. Advent Christian church, Esteyville, Lev. E. S. Hewitt, pastor. Owing to the absence of the pastor the morning ser vice will be omitted. Sunday school at noon. Evening, one service only, at 7 o clock. Subject, Reminiscences on Our Adventist Hymn Writers, bv Mrs. L. T. ('Hilton. It is expected that Mr. Coulton win he present to lead in the 50 Years Ago Happenings of August, 18"1, Taken from the Files cf The Phoecix. bridge connecting" streets. Alnnit 30 couples from this place joined tho Odd Fellow excursion to Montague on Thursday. They wore ac companied by the cornet and quadrille bands. ., Mr. lltnry Glover of this village has hamh'd us a Northern Spy apple of last years growtii which is sound and ap- uarentlv in good condition to keep till next sprin:;. It is the last of a parcel that were kept upon boards in the cel lar. A party of three or four persons from i.his pliice accompanied by others from ;pringie!d, Mass., returned on Saturday from a week's visit to Martha's Vine .ard. The account they bring of the at tract ivt ness of the locality, backed up by the tine show of bluefish presented to I'riends on their return, are of the most .'liticing nature. Main and Canal ' West :niin'ler-rr.7-;. & Iliehardson lias sold two acres' of tobacco as it stands in the field and has no further care of it only to keep the worms off. Price &50O. - Tt is gratifying, says the Rutland Her ald, that within six years from the close of the Rebellion the state debt should be reduced to less than half a million, with over HX),(K;0 in the state treasury to pay current expenses. This is a rec ord that few elates can present. . WEST BRATTLEBORO The Ladies' Aid society of the Baptist church conducted a successful ice-cream sale yesterday afternoon on the common. The union meeting, which was to have been held Sunday evening in the Bap tist church, has been "postponed indefin itely. Mrs. Amy Haley, housekeeper for Alonzo T. Stowe. is spending several Jdays in Vernon in the home of her daugh- Iter, Mrs. Charles Hamilton. Mrs. E. P.. P.issell of New York, who The prospects of a Firemen's Muster, in Wilmington, has returned to visit Mr. .he l.rst ot September are highly e- and Mrs. p. II. Winchester. ouragmg. me necessary iuiuis nave troin their funds oeen raised and several companies 1 distance have already signified ntention of lscing present. No pains viil be spared to make the trial a lirst lass aifair. The playing will be hori .ontallv through CW) feet -of hose, with Mrs. E. A. Knight is expected to return today from a two-weeks' visit in tJreen porr, L. I., and at Congamond lake, Southwiek, .Mass., with her sister. Mr Arthur Sanders, and field, who are spending family of Spr the summer at n the BRATTLEBORO LOCAL Rev. Harry R. Miles of New Haven. Conn., formerly pastor of the Centre I ongregational church, will occupy the pulpit of the Centre church tomorrow. Richard Cobb, who is employed at the Manley , Brothers garage, states that he was out of town all day yesterday and so was not one of those n the automo bile truck that ran into the railing on Churchy street and broke the railing over. RUM PATHOL ANNOUNCED. ' Federal Agents to Block" Runners irom . Canada. DETROIT, Aug. 20. With the an nouncement here yesterday that United States customs authorities will station agents at secret points along the Detroit river to check up on liquor boats coming from Canada, the activities of rum smug glers were believed on the wane. Action by the customs department fol lowed refusal of Canadian customs au thorities to open their books to Ameri can officials who sought to obtain the identity of liquor shippers iu the dominion. en minutes allowed each machine. ! lake. Mr. and Mrs. Arthur Winter of At hoi. The genuine Colorado potato bug has Mass.. visited her parents. Mr. and Mrs. lot vet made its appearance in this vi- J'-dgar H. Davenport, yesterday, coming nity so far as we are aware although to attend the funeral of Charles II. Dav aanv iconic have found what thev sup- enport. whose body was brought here used to be it. Mr. "C. C. Frost of this f''""i Ithaca, N. V. Committal services dace has received from Illinois some were held in Prospect Hill cemetery, ptcimeus of the genuine article, which! There was a large number at the corn o;iv be seen by calling at his shoe store, roast last evening at Charles Winches Ihe.v much resemble the common squash ter's on Ames hill, and the affair was a I1.1l ...... .i1.,.,,fr fiii t Iiiil: .j r n.f 1 .1 : ' 1 1 ri.i u:i win uu- uiiui.i pi-Hi liiiiu ii o" : iieriiieii sue , ess sni iauv. j ne menu eon- f-isted of roast corn, roast potatoes, ba- Ccorge W. Harr'.s of Mt":rose, Mass .vhik attending the .Yidnesday lost 17d nvelope in an inside atMi were arrested on ni: taken the money. he following day it was found that the tioney had been picked up by llufus hsws'on of this place, who on proof of iwneiship being presented promptly re in ned the sum to Mr. Harris, receiv-n- a $-20 bill for his honesty. con, lows over were rods, frankfurters and marslimal- An enormous bonfire was built, which the eorn and other edible CiKked. The evening was an ideal horse trot on contained in an pocket, and two suspicion of bav-.om for an outdoor party, the moon shin- On examination ing brightly. Jin the evening of Wednesday, Aug. 17. a surprise party was given to Mr. and Mrs. Newton Hastings. About 73 persons were present and a very pleas ant evening was enjoyed. Refreshments of ice cream and cake were served, fol lowed by music and an evenine of neieh- & Murray's circus, on Thursday . borly intercourse. Mr. and Mrs. Hastings Nellie Lynde expect to leave for an indefinite stav in the South. will be much missed bv a large cir cle of friends and neighbors. Stone f last week, drew a prettv endanee and the performance, with the xception of the balloon ascension, was irst class. The assembled crowd, which it 1 o'clock prepared to see the "dar ng aerorant'' make his perilous jour ley above the clouds, were obliged to vstrain their curiosity until 7 o'clock .vheil the ii Protessor. rose to a height ot a tew feet and immediately de landiug in the meadows below. fair at-(and Mrs. Mt'll They ROBBERY AT PROVIDENCE. Here's the Truth about what we have to of fer you. They're "worth while" offerings, worthy of thought. Ths Park Drug Store 18 Main Street Phone 210 urnired ' eel i iled. monster" unaccompanied by Thieves Take $1,175 Worth of Silver mid Jewelry from House. PROVIDENCE. R. I.. Aug. 20. Frederick Read. ll' Blackstone boule vard, discovered yesterday that bis house had been robbed of $1.17." worth of sil ver and jewelry. Bead had been at Watch Hill for a week. He returned be fore Mrs. Read and found that during the absence of the family a window be ! been forced. Among the articles 'of jewelry which the thief took are diamond, pearl and laiqihire bar pins. A Krocklin? correspondent informs us bat a party of fishermen hailing from .Jremtield. Mass.. pasinu through the iouth part of this town on Wednesday in their way from Mariboro. took a con de of rub pit blankets from a wagon .vitbout ousidtiiiir the owner. They i verc followed bv Constable Osgood and vIr. E. I'.r.sh through Putney to the .'liubljtirbood of Chesterfield. N. Ll. iond. where their teams were found ami he blanket recovered. We withhold he names of the parties out of regard for their families. East Dover The hay crop this season proved to be below the average yield. West Dnmmerston Mr. Bailey has recently returned from a visit to Al bany. N. Y., where he went to present the Voix) "quality of Dnmmerston granite is building material for the new capitol. Mr. .Bailey was well received by the ommissioiiers and had bis visit been ma.l at an eariier date it is probable 'hat bis offers might have been accepted r'or a large amount of granite. There is no better granite in thp country than that from the Dnmmerston quarry. Putney- M. T. C. Perry has a coarse wool lamb two months old that wei;;hs "7 pounds. Tf any of the boys can beat , it, let us hear from them. " j Will the boys who expect to par ticipate in the Potato Race, Sack Race and 50-yard Dash on Eabor Day, communicate with "Died" Stolte at once? There will bo several classes. Hinsdale, Mrs. Bascom, our is intend niir soon N. IT.,- inliiriiri;:n f Til 1 I 1 1 lipr some hne improvements in arm and house, near ine to make alxut her store Domino Golden Syrup No. 2 cans 10 per can 2-quart cans 30c per can A fine syrup at a low price. When this lot is gone there will be no more at so low a price. J. E. BUSHNELL 91 ELLIOT STREET :Houghton & Simonds5 MORN INI ,. -V at 8 O'clock 1 118 WW oemi-anmfa t On jifi v AND i . !. 1 Ji singinf FIRST SHIPMENT Ward Tires 30x3 Guaranteed 6,000 Miles $10.50 Master Cord Tires 30x331x4 : Guaranteed 10,000 Miles $20.00 Fabric and Cord. All sizes. Lowest Prices. CrolFs Battery and Tire Service Station 75 Canal Street BRATTLEBORO, VT. scGBsicasaaec Put On Your Old Grey Bonnet and come to Brattleboro Labor Day, September 5 for the all day celebration of the American Legion. Prizes to 'be given, you may get one. ; i- ?'! :-Ui f i I BEGINS Continues for Two Weeks Beginning Monday You Wit Have Choice From a Wide Showing of Summer Apparel at Savings From One-Thnxl to One-Half. Theres No Other Sale Just T J , f "II i. v. Like vi his- it s Part of O t i ur StorPolicy. 4- I , Stores at Brattleboro, Springfield, and Newport, N, H. ' off. v ir ; ' j v- ft f i ft i m - 3 t ,y t