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Washington State Journal
VOLUME X. A TALK ON FINANCE / WHY IS MONEY CREATED? " * To Serve as a Medium of Exchange, to Facilitate the Transaction of Business. The return to normal conditions in banking business may be prompt or it may be'postponed to a harmful degree. Which it shall [be depends upon the people generally more than upon the bankers and businewa men. If the people hide away every dollar on which they can get their hands and which they dont immediately require, they must expect a postponement. Money is created to serve as a medium of exchange, to facilitate the trans* action of business. When it is hoards ed away in a safety deposit vault, or a tin can, or a "sock," it is r.ot per forming a money function. It is idle and, so far as the business world is concerned, is dead. If $10 is hoqrded, there is just $10 less in the country for the transaction of business. If 100,000 persons hoard $10 each, $1,- 000,000 thereby passes out of. circula tion and there is just $1,000,000 less money with which to carry on trade. Now, what must be the effect of a pol icy of hoarding? A shock to business and eventually a serious reduction. It takes money to do business. If money is hidden away in idleness, even in small amounts, by a large number of persons, the sum total becomes enor mous and business begins to gasp for the life-giving element. One citizen may say to himself: "I have $20 here which I can spare. I'll just put that away." Another may say the same thing. While their mo tive may be self-protection, their act is injurious to -society, as a whole and they are bound to sufiffer some of the consequence of their own act. Let us suppose that the employes of a factory possessed a vague and undefined dread of business disaster and hoarded every cent of earning they could spare, after paying for the necessities. From week to week they would lessen the amount of money in circulation in the community. The banks would have less and less money, although they would possess the best of securities. The owner of the factory, let us sup pose further, went to the banks to obtain a loan to assist *in marketing the products turned out by the emloyes. The banks would inform the manu facturer that, under existing condi tions, the money could not be spared. What would the manufacturer do? OUR HOLIDAY GIFT STOCK.. MUST be seen to be fully appreciated. It would be hard to find words to express its magnificence. It surpasses any of our former holiday exhibits. If you have visited our store in former years at Christmas time you'll know that our present showing must, indeed, be something worth seeing. Our low prices will make it easy to buy here this yeah Cameras, Fountain Pent, Albums, Toilet Good*, -Toilet Cases, Manicure Seta, Cel luloid Novelties, Perfume*, Book*, Lea ther Goods, Stationery, Jewelry, Shaving Sets, Pyrography Outfits, Dolls, Toys, Brushes of all kinds, Cigars, Confection ery, etc., etc. When fatigued from Christmas shopping, visit our fountain and have a cup of hot soda. Our hot drinks are delicious and will rest and invigorate you. H. E. GRITMAN DRUGGIST STATIONER He would discharge a part or all of his employes or he would put them on half time. He would not"3o it out of choice, but out of necessity. He could not go on manufacturing when he could not market the product. The employes that hoarded their earnings would suffer the consequences of their own act. Let us follow the results a step further. The grocer, the butcher, the dry goods and clothing merchant would feel the effects, too. They might continue in business, but they would not have the use of any of the money hoarded by those factory em ployes while the hoarding process was going on. After the employes were thrown out of work, the hoarded money would be forced from its hiding place, but the employes would be out of work and would have little to spend. It might be weeks or even months be fore the factory started again. [Mean time, with less trade, the clerk in the grocery, dry goods or clothing Btore, who imagined he could play a little safer than somebody else by 1 hiding away his saved dollars, would loose his position and, in the end, would be worse off by far than if he and others had not dealt the combined blow that crippled and, for a time, almost killed business. We are all more or less dependent, upon each other. If times are good, we all enjoy the benefits. If they are hard, mighty few of us there are who do not suffer. Then why take money out of circula tion and deprive business of its very' life blood? It is a short-sighted oolicy, hurtful to all, ourselves and our neighbors included. Lef. us all decide to work for the common good and, after satisfying ourselves that a bank is on a perfectly sound basis, deposit our hoardings therein. If we ; will do this we can rest assured of a quick and speedy return of normal condiions. Has Done Him Up When God gives a man a wife and six children, He has done a good deal for the fellow: But when He gives him a society' woman and a poodle dog, He has done him up. These society woman look upon children as a nuisance. I have had some society woman shake hands with'me and I would as soon shake hands with a dead fish tail. I wouldn't give one of yyur socKdarning woman for all the society woman in the country. Between cutting off the tops of their dresses for the ball room and bottoms for the bicycle, the society woyan i wiil soon have no clothes left.—Sam [ Jones. The Journal's ads are worth reading. RITZVILLE, WASHINGTON, WEDNESDAY, DECEMBER 11, 1907. ANNUAL CONVENTION. STATE Or WASHINGTON ; * j Live Stock Association—One Thou sand Prominent Growers and 1 | Breeders to Attend SPOKANE, Wash., Dec. 9. — One \ thousand prominent growers and breed , ers of horses, cattle, sheep and swine . ih various parts of the Inland Empire |, of the Pacific Northwest, have been j invited to attend the fourth annual j convention of the Washington State | Live Stock association in the assembly of the chamber of commerce of < Spokane Dec. 18 nad 19, when among the speakers from the outside will be : Josph E. - Wing of the Breeder's ; Gazette, Chicago, and George L. Walker of Cheyenne, secretary of the , National Wool Growers' association. The convention will assemble the 1 morning of Dec. 18, when, after re ports by F. M. Rothrock, secretary, and L. G. Monroe, treasurer, Presi- ' j dent A. J. Splawn of North Yakima, will deliver the annual address. The j ; Program for the afternoon follows: Address, Joseph E.Wing, Breeder's | Gazette, Chicago. "Co-operation in Breeding Better Live Stock" Prof. H. T. French, director University of Idaho, Moscow. "Breeders and the Fairs". Paul | * 1 Clagstone, Clagstone, Ida. "Some Pointers about Dairy Stock. ! E. S. Waterman, Walla Walla, Wash. "How we can improve market con ditions for Live Stock in the North west" Prof. E. E. Elliott, Pullman, ! Wash. | "The result of Federal Meat Inspec- tion at Spokane" Dr. C.W. Deming, U. S. Inspector, Spokane. Short talks by delegates to conven tion. The second day will be devoted to : general discussions in the interest of the industry and there will be reports by committees and the' election of officers for the year. The program for the second day is attached: "Forest Reserves" D. B. Shelter, | forest superintendent, Wenatchee, ; Wash. "The Evolution of a Stockman" L. McLean, president Spokane Canal ' Co., Spokane. "The Western Fever" E. F. Benson, Prosser, Wash. I Address. Dr. S. B. Nelson, State | Veterinarian, Pullmyi, With. "The Range — Past, Present and Future" George Urquhart, Krupp, Wash. Paper by George L.Walker,secretary ; Wool Growers' association, Cheyenne, Wvo. "We expect to have the largest and most representative gathering in the i history of the organiiation at th® con vention," said Secretary Rothrock, "and I believe much good will re sult." Many will be Helped by it To relieve the worst forms of Rheu- I matism, take a teaspoonful of the fol lowing mixture after each meal and at bedtime: Fluid Extract Dandelion, one-half ounce; Compound Kargon, one ounce; Compound Syrup Sarsaparilla, three ounces. These harmless ingredients can be obtained from our home druggists, and are easily mixed by shaking them well in a bottle. Relief is generally felt from the first few doses. This prescription states a well known authority in a Cleveland morping paper, forces the clogged-up, inacitve 1 kidneys to filter and strain from the 1 blood the poisonous waste matter and uric acid, which causes Rheumatism. ' As Rheumatism is not only the most ' painful and torturous disease, but 1 dangerous to life, this simple receipe 1 will no doubt be greatly valued by j many suffer*res here at home, who | should at once prepare the mitxure to i get this relief. i < It is said that a person who would j take this proscription regularly, a dose | or two daily, or even a few times a week, would never have serious Kid ney or Urinary disorder or Rheuma tism. Cut this out and preserve it. Good Rheumatism prescriptions which real ly relieve are scarce, indeed, and when you need it, you want it badly. Our druggists here say they will either supply these ingredients or make the mixture ready to take, if any of our I readers so prefer. X LIND LOCALS. (From the Leader.) W. T. Lester is building an addi tion to his Livery stable. W. A. Krebs, proprietor of the State Saloon, is over from Lewiston, Idaho. F. Koch is building -an addition to his residence on Third street. Raining a little and it looks as tho' we might have a spell o' weather. M. C. Murphy, of Spokane, has re opened the restaurant at the rear of Billie's Place. Mr. Mark Sinclair, of Waukon, Wash., and' a Miss Sophia Gleason, of Spangle, were married at the residence of the bride's brother and sister-in law, Mr. and Mrs. Louis Gleason, on Third street, last Monday after noon. Rev. H. N. Rounds, pastor of the M. E. church, officiated, i H. B. Spragg has sold his 640 acre farm down the Lind coulee, about ten miles from town, to Cross Brothers, of Valleyford. The price paid was $25 per acre. Mr. Spragg will locate at Kirkland, in Western Washington. Ge-irge Haller, the painter, who ' certainly has more than his share ,of ill-luck, met with another accident last Saturday. While at work on J. M.. Moulton's new residence he fell from a scaffold, broke his left arm and the second linger of his left hand. Miss Bertha Philpott, of Colville, eldest daughter of D. E. Philpott, a former resident of the Lind country, and Mr. Rollin Woolly were married |at Colville, Wednsday, November 27. Mr. and Mrs. Woolly will make their home at Marshfield, Oregon, where j Mr. Woolly will work at his trade carpentering. They stopped off at Lind | for a few days the first of this week while on their way from Colville to Marshfield — for a vilit with friends | and relatives of the bride. S. L. Thomas, the well-known Michigan prairie rancher, was in town Tuesday morning on his way home from a visit to his old home in Cali ! fomia, He was in San Francisco a few days and says the city is being rebuilt ' rapidly, but that it doesn't look like the Frisco of old nor never will. Oscar Warren, night bartender at the State Saloon, was arrested Wed nesday evening by Deputy Sheriff Haas 'on a warrant issued by Justice of the Peace Jay, charged with assault to do bodily harm. The complaint was made by Hans Lauke who alleged that Warren hit him over the head with a poker. The case came up for hearing Thursday moming and the defendant asked for a cha.ice of venue. The request was granted and the case was transferred to Justice Merrill's court! After hearing the testimony the Justice rendered a verdict of not guil ty A. O. Lee, who owns a fine 960 acre farm in Leone Valley five miles from the hustling new town of Othello, ma J e Lind a visit Wednesday. He reportes everything on the hum down his way. He says that the wild geese have selected Leone Valley as a feed ing ground and are coming in there by the thousands. Claud Williams, a young fellow employed at Roberts' camp on the Milwaukee, was arrested Wednesday night by Officer Curry, on a complaint made by George Patterson, bartender at the First Chance, charged with carry ing a concealed weapon. He was tried beforh Justice Merrill Thursday mom ing found guilty and finef $20 and , costs. BANKS AND BANKING MANY DIFFERENT VIEWS On the Gurrency Situation by Mem * bers of Congress. Financiers and Others Concerning" the probable action of the Sixtieth Congress with reference to financial, legislation, Chairman Fowler, of the House committee >on Banking and Currency, said; There certainly should be some remedial legislation, and I can assure you that the members of the committee on banking and currency will bend their energies to that end. Bank liabilities, whether to depositors or note holders, must be based upon gold, not upon fluctuating credits. Expansion is simply increasing the libilities of a bank without a corres ponding increase of cash reserves and this may take place although the re serves be in gold coin. It is simply a question of the relation of the liabil ity. A cashier's ch«ek does not lead to expansion nor inflation, for the reason that by the very nature of the in strument it is sent home for redemp tion at once. No bank holds a cashier's check, whether of the weakest or the strongest bank,as a part of its reserves, but sends it to the bankers as directly and swiftly as possible for redemp tion. A bank issue consisting of cashier's checks, payable to bearer, will always keep the currency of the country down to the lowest point of necessity, and yet will always meet the largest demands of trade and commerce." Congressman Cushman, of Washing ton, in an interview published in one of the Washington City papers, said: I do not claim that the present money system of the United States is perfect and in some particulars I think it might be improved, but Ido not join in this sudden and general clamor against it. It is true that we a good many kinds of money but they are all good; th*t is the main thing. There is good deal of talk about an elastic currency. Now, elasticity is a good quality in any commodity, up to a certain point, but not beyond that point. Whenever I buy a pair of sus penders, I always like elasticity, but don't want them to stretch bo much that they will not hold up a pair of trousers with absolute security, and certainty. Now, I don't want the financial suspenders of this country so elastic that they wont hold up 'the monetary system of the United States. By that I mean that I don't want to see so much elasticity that it will lose Its stability. Are Calling in Cashier's Checks Of the $300,000 issued by the banks of Spokane in special cashiers' checks, but $15,000 are now in circulation. This is the statement made today by the banks of this city. S. S. srantj 3en?drY Co. WE are offering the most complete line of Jewel ry, this year, ever shown at prices that make business. Why we Sell Cheaper: Small expenses and close buying. The business of this store has increased over 400 per cent, which shows that narrow margins bring trade. We only ash to Show our Goods, the price sells them. We are prepared to do any kind of made-to order work. No job too small or intricate to receive prompt attention. We Engrave all goods purchased of us free of charge. Sec our Presents.! for NUMBER 49. A special effort is bein£ made by all the banks to get in these checks and they will then be retired from service. The big decrease of these special checks shows the strengthening condition of the local banking intitu tions. There are now outstanding about one million dollars of clearing house checks, but these will be taken in at the rate of about $100,000 a week till all are paid. It is expected that with in a month and a half the local banks will again be on a cash basis. Today there is more cash being paid out than at any time since the string ency. Money is given wherever it is necessary, and the condition is much improved. The Ideal Christmas Gift There is no more suitable or ap propriate present than a famous STEVENS RIFLE, SHOTGUN or PISTOL. These well-known arfns have been on the market since 1864, are guaranteed in every way and universally conceded to be absolutely the best at popular prices. "Out-of-doors" with a Stevens is the finest developer for a growing boy. Learning to shoot well and acquiring qualities of self-control, decision and manliness are the invariable results of a Stevens Firearm education. Progressive Hardware and Sporting Goods Merchants carry Stevens Arms in Stock and can supply individuals at attractive prices. Insist on Stevens when purchasing — there are no sub stitutes. These meritorious weapons are manufactured in all sizes, gauges, calibers, weights, lenghts, etc. Sead five cents in stamps to the J. Stevens Arms and Tool Co., Chicopee Foils, Mass., for 160 page illustrated catalog. Embodies detailed descrip tions and furnishes the most complete number of Xmas suggestions in the firearms line. < Remember — when securing your gifts for the merry Yule-tide season a Stevens Rifle or Shotgun makes a man of your boy and no mollycoddle! A Booster Honor L.Wilhelm, the genial editor 'of "The Coast," of Seatle, accom | panied by his wife was in Ritzville I Monday on his way home from Colfax to Seattle. Mr.Wilhelm has arranged to get out a handsome illustrated edi tion of his magazine devoted to Adams County in which will appear h large number of fine new illustrations show ing the advancement and progress in the development of our county's vast, rich resources. A Weary WIIHe at Und Frank Tobin, a one-armed weary wiliie, was arrested Saturday by Officer Randall for stealing a watch from one of the Italians living in the old N. P. section house. He was tried before Justice Jay on a charge of petit larceny found guilty and fined $25 and costs. As he was hovering on the ragged edge of financial embarrasment he was obliged ty go to the county jail.