The Harlem news. [volume], May 05, 1933, Page Page Three, Image 3

About The Harlem news. [volume] (Harlem, Mont.) 1908-current

Image provided by: Montana Historical Society; Helena, MT

                
Friday, May 5,1933
What Going Off The Gold Standard Means To The Farmer
Enlarged Markets, Higher
Products Prices, And Ability
To Pay Old Dollar Debts
BY FRANK PARKER STOCKBRIDGE
Written Specially for The Harlem News
The United States of America has “gone off the gold
standard.” That sounds shocking to people who fear all
change, and it takes some mental adjusting on the pari of
the rest of us who have not yet become accustomed to the
rapidity with which everything is changing todav.
What does it mean, this going off gold ? What is the
purpose I What will the effect be ? What has it to do with
this talk about inflation? What is inflation, anyway ?
Who will it benefit and who w ill it hurt ? Those are the
questions on the tip of everybody’s tongue.
In Sequence
The United States went off the gold
standard March 4, when President
Roosevelt declared an embargo on ship
ments of gold abroad and called all
hoarded gold back into the Federal
Reserve Banks. Since then we have
shipped no gold abroad except on con
tracts already entered into. Since then
nobody holding a gold certificate or
other paper money calling for payment
in gold has been able to get gold for it.
We still have the gold, nearly half of
all the gold there is in the world, more
than four thousand million dollars of
it in our Treasury banks, but we have
stopped using it.
The purpose of our action is, as
President Roosevelt stated, to bring
about higher prices. The first place it
has affected prices is in our foreign
trade, for the principal use of gold as
money is in settling trade balances be
tween nations. It is the one commodity
which every nation in the world ac
cepts as money.
Immediately we went off gold; com
modity prices in international trade be
gan to rise in terms of dollars. For as
soon as any nation’s paper money
ceases to be redeemable in gold, people
who have that money begin to look for
something else—wheat, tobacco, cotton,
lard, steel or other non-perishable forms
of wealth—in which to redeem it. They
begin to buy those things, and their
paper money buys less of them than it
did before. In other words, they bid
prices up.
It may seem to some that we in
America are not concerned with what
happens in foreign trade. But it is
from our sales overseas that a very
large part of the money comes, which
pays for our farm products. More than
half of all cotton grown in America
must be sold abroad if the growers of
the South are not to suffer. In Texas
alone, it has been figured out. the loss
of the entire state from the low price
of cotton in the export trade, has been
over S4OO for every family in the state!
Almost half of the money which to
bacco growers get for their crop comes
from foreign sales. We normally sell
abroad from a quarter to a third of all
tho lard we produce, about one-sixth of
our wheat and about the same share of
our apple crop, more than half of our
turpentine, gasoline and benzol, over a
third of our copper, and from a quarter
to one-half of our factory products in
many important lines.
It seems highly important then, to
get the highest possible prices for these
goods in the world market. But when
foreign nations have let their money
depreciate they cannot buy as much or
pay as good a price, so long as we main
tain our dollar on the gold basis. On
the other hand, with their cheap money,
they can produce at less cost than we
can and sell their goods to us for our
gold dollars cheaper than we can pro
duce them when all our costs are mea
sured in gold.
So in going off gold we have cheap
ened our dollar to meet the other cheap
moneys of the world, and already com
modity prices have begun to rise. In
other words, we have started on a pro
gram of inflation of the currency,
which is merely another way of saying
increasing prices.
The gold embargo is a very mild form
of inflation. It is certain to be followed
by other forms, directly applicable to
^Tjd BM,
JL : / vP*i
/•mill Hickmam move
" A SET OF TIRES
21,000 MILES OU A BET,
■™EM CELEBRATES
WITH a Bia BLOWOUT..
our internal affairs. It makes no dif
ference, really, what the value of the
dollar is in foreign money except when
we deal in foreign trade, because a dol
lar at a low value will pay a debt in
curred in dollars when they were at
high value. So the farmer or producer
who gets more dollars for his commodity
can pay his dollar debts with them, even
though they are cheaper dollars.
Inflation will help the debtor class
because it will take less wheat, cotton,
shoes or what have you to get the nec
essary number of dollars with which to
pay. It will hurt the large creditor class
because, although they will get their in
terest and principal repayments in dol
lars, as before, those dollars will not
buy as much, will not represent as much
real wealth.
We have as beneficiaries or infla
tion the farmers who will get more
dollars for their crops, the wage-earn
ers, who will benefit by increased em
ployment, (although wages do not tend
to rise as fast as the cost of living)
business men whose goods on hand be
come worth more dollars, whose sales
in dollars increase faster than costs.
We have been going through an in
creasing process of deflation for more
than two years. It had reached the
point where debtors as a whole found
themselves totally unable to pay. To
have pressed deflation further would
have resulted in universal bankruptcy,
in which the creditors would have fared
as badly as the debtors.
Just what form domestic inflation
will take remains to be seen. The Presi
dent’s request for power to adopt any
or none of various means of inflation
indicates that he will be guided by con
ditions as they arise. It is probable
that he will issue currency against Gov
ernment bonds, for one thing, that sil
ver will b^ restored to its former mone
tary position, thus increasing the vol
ume of metal behind 3ur money, and
possibly he may decide, if it seems to
be warranted, to reduce the amount of
gold in the gold dollar by as much as
one-half. That would not be the first
time we have done just that in our na
tional history, rather the fourth or fifth
time. We still have nearly half of all
the world’s gold behind our money,
whatever price we put on the dollar.
1933 Baching Suit
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Bk\ x^i/’aS
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It ia a ribbed olue-and-white one
piece bathing suit worn by Miss
Verna Hillie, the feature being that
little trick-tie-on skirt which neatly
creates two suits in one. It is a
new model' for 1933.
Old newspapers, 10 cents a bundle, 3
bundles for a quarter, at The Harlem
News office.
THE HARLEM NEWS, HARLEM, MONTANA
Our Only Anxiety—Over Inflation —■ By Albert T. Reid
EUROPEAN I
pr au YOUR COAT
I AND HAT
ANO i’ll Have A NOV/, dear.,- do you really
DOUBLE CHOCOLATE THINK you can reduce a
ICE CREAM SUNDAE BIT ANY TIME YOU WANT TO?
Jahr SUPREME
Mb
—i—, ■ J) —
BRUCtBARTOH
• - aW/er of “THE^^MASTER EXECUTIVE"
Supplying a wcek-loweek inspiration lor the heavy-burdened who will hnd
every human trial paralleled in the experiences of "The Man Nobody Knows.**
SERVICE, NOT SERMONS
JESUS rose from his seat, drawn by that splendid outburst of
faith and without hesitation or questioning he started. He went
with the father whose daughter was dead. All his life He seemed
to feel that there was no limit at all to what He could do, if only
those who beseeched Him believed enough. Grasp
ing the father’s arm He led the way up the street,
h> s disciples and the motley crowd hurrying along
JK' vs- behind.
They had several blocks to travel, and before
their journey was completed another interruption
occurred.
A woman who had been sick for twelve years
edged through the crowd, eluded the sharp eyes
M of the disciples and touched the hem of His gar
ment. “For she said within herself, if I may but
touch His garment, I shall be whole.” . . . What
Brae. Barton an idea. .. . What a Personality His must have
been to provoke such ideas. . . . “My daughter is dead, but lay
your hands on her and she will live.” ... “I’ve been sick for twelve
years; the doctors can do nothing, but if I only touch His coat I’ll
be all right.” ... How can the artists possibly have imagined that a
sad-faced weakling could ever inspire such amazing ideas as these 1
The woman won her victory. By that touch, by his smile, by the
few words he spoke, her faith rose triumphant over disease. She
“was made whole from that hour.”
Again He moved forward, the crowd pressing hard. The ruler’s
residence was now in plain sight. The paid mourners, hired by the
hour, were busy about the doorway; they increased their activities
as their employer came in sight—hideous wails and the dull sounding
of cymbals—a horrible pretense of grief. Quickening his stride
Jesus was in the midst of them.
"Give place,” He cried with a commanding gesture. “The maid
is not dead but sleepeth.”
They laughed him to scorn. Brushing them aside he strode into the
house and took the little girl by the hand. The crowd looked on
dumbfounded, for at the magic of His touch she opened her eyes,
and sat up.
Front page stories five and six. 'A woman sick twelve years, end
healed! A child whom the doctors had abandoned for dead, sits up
and smiles! No wonder a thousand tongues were busy that night
advertising His name and work. “The fame thereof went abroad
into all that land,” says the narrative. Nothing could keep it from
going abroad. It was irresistible news!
He was advertised by his service, not by His sermons; this is
the second noteworthy fact. Nowhere in the Gospels do you find it
announced that:
Jeruo of Nazareth Will Denounce The Scriber and Phariieea in the
Central Synagogue Tonight at Eight O’clock . . . Special Music. ’
Next Week: Picking His Market Copyright, BcbbsMerrill Co.
* Cherry Patch News
Mjwwwaaoaaaaaiwewiao^
Mrs. Josph Mohar had the misfor
tune to slip and hurt her arm Satur
day morning.
Mrs. George Fairbank went up to
Havre, Friday to have some dental
work done.
Mr. and Mrs. S. Goodheart and Fran
cis were Sunday dinner guests at the
Irvin Goodheart home.
Mr. and Mrs. Trues Olsen are the
proud parents of a baby girl born Apr.
22 at Chinook.
Mrs. Henry Peterson is a guest of her
daughter at the cottage this week.
Mr. and Mrs. Irvin Goodheart and
children and Mr. and Mrs. Sylvester
Goodheart and daughter spent Sunday
visiting at the Frank Mohar home.
Mr. and Mrs. R. A. Peterson were
callers at the Christ Christensen home
Monday.
Word has been received that Mrs.
Lucy Wagner and son John have moved
back to Great Falls to live for awhile.
Mr. and Mrs. F. Mohar and family
spent Saturday visiting at the Joseph
Mohar home.
CLUB NEWS
The Cherry Patch 4-H sewing club
had their first meeting at the home of
Marie Peterson. The girls played be
fore dinner. A delicious dinner was
served by Mrs. Peterson. After dinner
:we had our meeting and put puzzles to
gether. The next meeting will. be
May 13 at the home of Irene Christian
। sen. Some members and the leader,
Mrs. Ryen, were absent, due to bad
roads.
. Long May Sha Ware
“The Star Spangled Banner” waa
made the national anthem of the
United States by act of congress,
signed by the President. March 3,193 L
On Nation-Wide Flight
In the typical Lindbergh style, the
Colonel and Mrs. Lindbergh took to
the air for the first transcontinental
trip in more than two years. Colonel
Lindbergh was on an inspection trip
us airports and equipment.
SecretaryTo President^
■K ;
■
MF
Here is the first picture from
the Executive Offices at the White
House, picturing Miss Marguerite
Lehand, private secretary to Presi
dent Roosevelt.
Contract Bridge Score Fads —The
approved size and kind at The News.
Cellophane—All Lalors —For Sale at
The Harlem News office.
K *
* Turner News ■
w
Thi* Junior-Senior Banquet was served
at 6:30 p. in., April 29 in th,- Turner
Gym by the mothers of the Juniors in
honor of the members of th<- Senior
class. There were 60 seated at the ban
quet. This included the Juniors and
•Seniors, faculty and school board, moth
ers ami fathers of the Seniors and tho
speaker of the evening, Mrs. F. M.
Allen. The delicious four course re
past was served by candlelight on beau
tifully decorated tables. The program
follows:
Toast and toasts Junior Shockley
I’ are welcome Fanny Deming
Response Clifford Jackson
N • .stunts)
! Entertainment
i Merrill Hastings and Charles Kegel
. Remarks A. L. Simona
I Highlights Miss Opal Rector
I Intentions Lyle Cooper
I Gobs of fun St unts)
। Humming I Ho Enstly
“ ’33 Look Forward” Mr>. F. M. Allen
Immediately following this was tho
Junior-Senior Promennd<\ Music was
furnished by Mr. Cooper. Mr. Baki i and
Mr. Leman. Invitations had been is
sued to 150 people Oul of town guest a
included Misses Edith ami Edna Mor
gan, Jennie Jacobson, Beth Rafter,
Myrtle Rhoades and Messrs Bill Collins,
Robert Thronson and Herman Liese all
of Harlem; Koster and Bradley Miller
of Dodson; Fern Peterson, Eleanor, Mil
dred and Burnell Johnson of Hogeland
and Helen Hanson of Havre.
Miss Edith Morgan of Harlem spent
the week ond lu re with Fanny Deming.
Alice Skune-, Eunice Howitt and Bill
Brownfield spent the week end nt their
respective homes in this community and
attended the Junior-Senior Prom.
The Turner Band plans on attending
the Music Festival at Havre, Saturday
if the weather permits. A number of
other people from the community will
accompany them.
Mrs. L. H. Dalton was called to
Malta, Monday evening by the illnesa
of her daughter. Mrs. Lorraine Myhrs.
Mrs. Bert Doubek was dismissed from
the hosptial here Monday.
Mrs. Howard Jones, who has been
convalescing after an operation a few
weeks ago, is reported not so well.
About a dozen Indies attended tho
miscellaneous shower given for and at
the Big Flat hospital last Thursday.
Others who were unable to attend, sent
in their contributions.
Mrs. L. B. Myhrs was hostess to the
LDR nt her home Saturday afternoon.
The girls have issued invitations to a
Mother and Daughter Banquet to bo
held May 13 in the church basement.
The Big Flat welcomed another heavy
rain and snow this past week. Many
farmers were about ready to seed,
others have some seeding done, so this
moisture will soon have the grain up
and coming. Also the grass is growing
fast for range stock.
H. P. Thronson of Harlem was a busi
ness caller here last Wednesday.
John Marlow of Harlem spent Tues
day of last wook here on 'business mat
ters.
Mr. and Mrs. J. L. Simmons made a
combined business and shopping trip to
Havre, last Wednesday.
’ The Eilwin Rud family has moved
here from Hogeland, Mr. Rud’s work
making the change necessary.
Miss Julia Hanson is assisting with
the work in the post office here since
Miss Lucile Harmon has accepted a po
sition in the Harlem post office.
About thirty ladies of the commun
ity were entertained at, the Hotel Tur
ner last Wednesday afternoon, honor
ing Mrs. O. Peterson. The afternoon
was spent working jig-saws, after which
a delicious lunch was served. The honor
guest received many pretty and useful
gifts.
Know Any Larger?
The tropical fruit attaining the
greatest size Is the jack fruit, some of
which are two feet long anil weigh 80
nonnds
Vinegar Make, Meat Tender
Tough ment or poultry, when boiled,
will be made tender if n tablesponnful
or two of pure mnlt vinegar is added
to the water In which It Is cooked.
The vinegar will also lessen the time
which Is needed -or boiling.
Mothers Day
Suggestion
•
If distance makes it
impossible for you to be
with her Mothers Day,
telephone your greet
ings.
It’s like being there in
person. Your voice is
you, and there’s a thrill
in hearing a familiar
voice miles away.
The Long Distance
operator will be glad
to tell you the rate
•
THE MOUNTAIN STATES
CELEPHONE * TELEGRAPH Os
Page Three