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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (Oct. 17, 1909)
Omaha un day Bee. ADVtRTLSE tN THS OMAHA DEE BEST IN TUX WEST PART TWO EDITORIAL PACES 1 TO 10. The ' , - 1 : 1 VC VOL. XXXIX NO. 18. OMAHA, SUNDAY MOUX1NU, OCTOBER 17, . 19W. SINOLK COPY FIVK CENTS - i Wonderful Dress Goods Assortments Our ambition to maintain the foremost Dresa Goods Department in Omaha hasnrged us on to greater achievements this season. Our dress goods showing Is representative of the world's most fashionable fabrics and shades. Materials for smart uvlta and dresses from both foreign and domestic mills. Bennett's prices are acknowledged always most reasonable 50c. 75c. 89c, 98c. gl.25. $1.50 to S2.50 , REMARKABLE BROADCLOTH SELLING We shall offer Monday about 60 pieces very fine $2.00 and J2.60 broadcloths, in many shades; also new coatings in fancy weaves. Good, heavy cloths, 50 and 66 r () Inches wide. In the ratne lot are included bright red Thibet for Wflf children's coats. Barely half Monday Bennett's for Plaids For children's wear nothing is quite so effective as plaids, and this section ' has provided them liberally. Splendid range of patterns - v 58c, 75c, 31. S1.25 Sale Black Silks 16 pieces for Monday. Peau de Sole. Messalhie, Casbmlro de . Sole nd 38-inch Taffetas for dresses, coats and waists. At no time are better silks shown under QCi $1.39. Our price ...OlC Autumn Silk3 Silks for every occasion and for every purpose. Superb novelty silks for waists. In floral, Persian and plaid effects, and practically every new thing in plain silks In the late shades. ' Raisin, Artichoke, .Wistaria, Nutmeg, Smoke, Burgundy, Olive, Catawba, Rose ' Sl.OO, S1.25, J51.50 II I Yija .Al,y 15c Home Journal II I ree Pattern with the Quarterly Of). J V f Style Book for Fall at UC 1) d New Arrivals Fall Models Tailored Waists A wide assortment of smart madras and white linen waists, either plented or hand-embroidered, all sizes S1.25-S2.C0-S2.75- $3.75 Turn to P Age 10 for News of the Most Sensational BOOK . SALE in the history of western merchandising. Bcnnett's 'Most Authoritative Millinery You must come to Bennett's If you would get the greatest amount of Millinery style and goodness for the smallest outlay. That Bennett Millinery et'ds In artistic conception there Is no questlcn. The ir.o?l advanced Paris and New York models are ex pressive of all our popular price hats. Our de signers have adopted them for inspiration, and modified thni to please the tastes of Omaha's fair sex, affording you hats at S5.S7SO.8 MPiS for which milliners claiming excluslveness largely as their stock In trade, would freely charge you from $5.00 to $10.00 more. Bennett's assortments, too. are superior. In all Omaha no other such variety Is Bhown. Fall hats are here for hndv and induing from the big business, most ev 'must be coming here. Monday's showing Is probably the best of the entire season. 3V a' 4ft. , MA r every- ..C erybody V. s f Cut Glass Bowls Very fine American nutting-, dull fin ish, str.r pattern, t-lncli alse. An Advance holiday shlrment specially atured for Otfobr wed t no dings, a splendid S4.00 ar- Z. till tlcle, Monday , SAMPLE LINE i Italian Marble Busts Travelers' samples closed out to'us at a. low price, to save excess bsg gaga back to New lork. Line of 'very ' fins Italian Carrara- marble bunts, worth fie. 00 to ISO. 00, every Monday o'n sale " Hfllf . PliCC Candeliers 50c . A beautiful table decoration at a very low cost. , 600 Catidellers, con slating Ot brass candlestick, orna mental candle, candle shade holder, fringed llnlna; and rulrm. Every home with any pretense of refine ment will want several. The fTrt complete equipment, worth jiff 11.26, Is offered now at. . . . . . Y . Handpaintei Plates . One Jot of beautiful flne French china plates, 'hand-painted fruit and flower decorations, fieavy old lines, s-tnen sue 1.60 values r; 98c Who Needs Blankets? There Is no make-believe about these blanket savings.' Here are three lots of clean, new fresh goods, each specially underpticed for Mon day. Head. , Heavy Felted Often Blankets, In large 11-4 size, gray only. Our best si. D line at, nalr : . , . . Iirecon Hlaokrls, finest cotton blan keta made: look and feel like flne wool 1S-4 else Our regular 12 89 line, pair All noti Kr.y, SI. 59 itton blan- 52.29 y, tan or 12-4 size anit ff (.00 blankets, .UU 98c on fill- 51.69 plaids; run heavy, best at. nalr. . . . Comforters, cotton filled, sllkolln. eoverlng, yarn tied. (1.26 line, for Comforters, snow white cotton fill ing, stitched edges,' 7 2X78 Inches, value $2.00, w ' for Sheets and Cases Bleaehed Hbeeia, of heavy muslin, 8-tnctn hem, 8-4 size, usually (6c, Monday Pillow rases, 42x86, made of soft muslin, best 16c line, for...... 43c 12c Linens Cost Less Table' Damasks get strongly fea tured for tomorrow. Heavy bleached Dar. ask. TO inches wide, In new patterns, regular CO. (6c quaaity, yard All Linen 72-Inch Damask, Q8r 11.26 values., Odd Napkins, all linen. 17-Inch, fast edges, Vk dosen lots, worth JOr tl.8o dozen. napkins for Huek Towel "Seconds." 22x46 1 1 Inch, l&o quality ....... 1 V I Moday-i Ssie" Stoves and Hardware .Household needs ror tn. winter seasons afactiviy prices; for in Dig aion- av selllos-. Hik-(ianls Oak Meateea, well , knowp'. Peninsular Quality, duplef grate, ana van ce niiea wiin maga sine to burn hard or sort eoal. sunerlor hut TitaBt fa.tur. Peninsular Aft Base JlufnrS.'.S4.0l Peninsular JEmptr. Base Burn- era ...... .S&&.04)' Peninsular Electro P Burn er ...-.. r;.:. ,3jue Perfection OH Heaters tar. ,.3.041 sis p. Laundry Btove. 2-hole, for..'.. .$8.00 16c quality. Stovepipe for... . ... .10e Metalllo ASh Rtfters for. ....... ,8Se 61. 26 galvanized eorf usjated Xsh' ' Cans 1JM fi.7 galvanized corrvgaiea Asn i lie .p.nnea open nuaa.. i.3df ISa tic Japanned open Coal Hods.... 35 11 5 for baffle Irons,, high -standard He EaaiMelware, 18 Big clearing, less than one-fourth regular. (. 8 and 10-quart .Milk- Pans.' Berlin Kettles, Coffee Pots, . . ji'unnels. sto. .. ; .'.v . ; 10c Distinctive New Models ,K 4."vji r? --v-..- ..-SW3Sj-riri3f One-Piece Dresses and Suits . Quiet elegance is expressive of every one of the 200 beautiful new dresses and suits we will have ready for you again tomorrow morn ing. The ever changing styles keep interest at the highest pitch in the garment section. Dress and suit stocks have both been aug mented with the most beautiful of the entire year's fashions. ONE-PIECE DRESSES of flne imported wide wale diagonal made in a charming military effect and full pleated skirt with yoke effect, two rows black crochet buttons, come in wine and black, at 329 50 ONE-PIECE DRESSES of all wool, wide wale diagonal, button on side front, with row of large jet buttons, colors, raisin, navy, green and black, handsomely pleated bottom, at un row oi large jet $2sm ova P 'cvi SUPERB NEW SUITS with 52 Inch Coats. Mark the length of these coats. Its a1 faffhlou hint fresh. from Paris. These suits you'll find the ful filment of your fondest ideals. Simply but elegantly tailored throughout, made of richest' worsteds and diagonals,, colors olive, bluo, gray, . smoke, raisin, artichoke and black, lined with genuine Skinner satin lining. ''.', " ": $2912 aha $ 3252 15 BROADCLOTH AND WORSTED SUITS with long fitted coat and pleated skirt In panel effect, navy, brown, red and black, at ........ New Autumn Styles "Dorothy Dodd" Shoes, light, dainty, yet so fashioned as to furnish firm support where needed and allow full play of the muscles. . Tomorrow's Surpassing Bargain Boys' Suits inn tlua? 83.50 300 line suits with two pli of full cut knlcker pnnls; smart double-breasted coat In tnerllum and' dark stripe; U fit boys 8 to 15 yrnr: notliiiiK to equal them in Omnha under fc00; poNltlvcly yenr's best offering Boys' Russian Suits, 3 to 6 yenr sizes. In "medium and diirk stripe cossimorei and pin li red end blue all fO Cf wool fabrics, for fc.3U Hoys' Russian Huits with Military and Sailor collar brwld trimmed, colors, brown, tan, olive, Koyal and tiavv. ,1 j o . . I ' ' ' ' I to. tC and $7.50 Suits, for S3.75 Boys" Norfolk Suits, pleated eoatd, with yoke and belt, knlcker pants. to 10 years, gray, brown and blue mixtures. fcj.00, (2.50 and R00 Norfolk Suits of splendid woistel. Scotch mixtures and velour enssimeres, ti.w. $4.00 and S3.50 Boys' Overcoats Heavy Russian Auto nnd Boa coitta In plain grays and stripes, also reerern, dray and red flannel lined. S to 18 year sties 33.00 'J MONDAY'S SPECIALS IN THE GROCERY Bennett's Golden Coffee, lb....r.2fle - And 30 stamps. Bennett's Challenge Coffee, lb....lSe And 10 stamps. Bennett's Teas, assorted, lb 4Se ; And 40 stamps. . Bennett's Teas, assorted, lb. .....38c . . And 30 stamps. . .. . , Dalldet fanpy Oil Sardines, can-. .'JOe And 10 stamps. . Galllard Olive Oil. large 70s And 100 stamps, etollwertk Cocoa, -lb. can..,.S0c - ' And 30 stamps. ' Bennett's Capitol Oats, pkg lie And 10 stamps. Eddy's French Mustard. Jar lOe And 10 stamps. Argo Gloss Starch, two pkgs lev And 6 stamps. Jap Rice, 4 lbs 38e And 10 stamps. Pie Preparation, assorted flavors, 3 for 2?o A nd ?0 stamps. . 10c Diamond Crystal Salt. sack. And lu stamps. Bennett's Capitol Pepper, can.'. ..10c And 10 stamps. Polk's Tomato Soup, 8 cans. . .'. And 10 stamps. J. M. Pumpkin, can - And 10 stamps. Earl New Cleanser, 3 for .... And 30 stamps. Capitol Panes ge. psrkxtre And 10 stamps. Yankee Rose Toilet soap, 3 for. And 10 stamps. Capitol TuTe Maple tSyrup, jt cun.40e And 20 stampE. Diamond fl Chill Sauc-e. bottle.. IRe And 10 stamps. Diamond C Soap, 10 bars Sfte Chicken feed, pound o Currants Cleaned currants, usual 16o kind, t pounds lite Cheese, finest quality, pound.... SOe And 10 stamps. Cheese, Virginia Swiss, pound ..SOe And 10 stamps. , .25c 1 , .lOe .' . . 2Se ..lie .'Mo Against . a Central Bank By Henry W. Yates T ,HEl QUESTION, of a central bank ' from the aupport lt'is reclvlng: In high political Quarters ' has, now become a real' Issue In' our financial discussion:- " The proposition as advanced ifne confines lu ' operations to trans- acttona between . banks. .......... It. Is difficult to see how a business .so restricted could .be . made attractive to the capitalists who are expected to 'subscribe for the ' stock. '-"' " ' . Peposlts could be obtained, by the offer ing of sufficient. Inducements, but banks, as a rule, are not borrowers. They become so pnly In times "Of great' stringency, "asd these are Infrequent and it -may. be hoped will eventually:, cease, tooccur., ? I Tho oentrKbank miwt . therefore .necesi sarlly find other meanafor "obtaining loans and discounts.' , ja ? J ' . To be a partial proposition, ' It should be vested with full poer to do-a general banking business, like the Bank of ,KrTg land and the Bank pf Prance, and to makS It of national operation, it must also main tain branches. This la doubtless the form the proposition . will . finally assume. No matter In what shape It may be presented, such a bank must come Into direct competition with the eklstlng banks, and If the branch plan is extended generally, say as In Canada, It would lead to the destruction of our exist ing banking system. The credit snd pres tige of lis 'government connection would give It great advantages over all. other banks and this, joined with the fact that these branch blsks would be untaxed in communities '.where the banka are now called upon to stand so large a portion of the burden of local taxation, would In evitably ' result In the extinction of the latter. ' . ; .. ' . , TUe question "at once arises "Is there any crying necessriy for such a change In our banking system and would It be beneficial o the country T" I think the queation should at. once be definitely answered in the negative. These branoh banks, owned and controlled by men havlng.no personal interest what ever' in the communities where they are established, could, not render the same service to thoBe communities as the pres ent independent local banks. In papers heretofore published this writer has bad occasion to show that our Amer ican banking system is a product of our American' life and development and Is pe culiar to 'this country. - So far. from belns;- the worst banlna- ftystetn In the world, as some writers have asserted, history will probably record It as the brst. It will be Judged by what it has accomplished and not solely by its spec tacular display of weakness at a few irreg ular Intervals. These weaknesses are apparent to all, but a wise policy should lead to their removal and not tend to the destruction of the en tiro financial fabric. "Granting, however, that in some manner a central bank could be made to harmonise with our existing banking system, there are a number' of other objections to the scheme which would Justify Its rejection. Only one of these can be considered within the restricted limit of the present paper, but it is In the writer's opinion the most Important of all, as it vitally affects the public Interest. ' It Is proposed to give to this bank the power to issue bank notes to circulate as .money, without the bond seourlty heretofore- required. This really constitutes the main incentive for its creation. Just as it has also been in the. many banking and currency re form scheme heretofore proposed for con gressional action. It Is doubtless true that notes Issued by a large capitalised central Institution would not be attended with the same risk TT 7 ' ""fr.; 77"? Is jy ' tfv household, fot jtZm I j)) j f without it no happiness can be ryBpw ana cpmmcna tne tnoughts (( a an asPirations ' the mother VatXE bending over the cradle. The ordeal through which the expectant mother must pass is such that she looks forward with dread to the hour when she shall feel the thrill of motherhood. Every woman should know that the danger and pain of child-birth can be avoided by the use of Kether't Friend, which renders pliable all the parts, yr rrT'vT"? !' . assisting nature in its work. w H n 1 1 1 -k By its aid thousands of tVi IV i II If women have passed crisis in safety. - Ji-ftjr ftEeS took ef Information to nuaiii et free. tUX JiiULDsliLD RKaUlAtO CO. AUaata, lis. . 1 1 LXL 1 1 L'Td as when Issued by thousands of national banks separately. Whether such notes would be safe or not is not the sole question under discussion. Their ultimate payment . would - depend upon the management of the banks Issuing them, whether large or small. The chief objection is the conversion by law of personal credit into capital through the Issue of bank currency, and the conse quent Inflation of the money volume. Any subsequent contraction .of this vol ume by the retirement of, these' notes, whether by payment or repudiation, would be attended with loss not to the ' Issuers of the notes, who get their prof it when theyput them out and cannot lose, but to the general public' The necessity claimed for all currency schemes is the prevention of panics. The occurrences of'lKOJ.are constantly put forth as a aledge to force this kind of money upon the country. The prominent financiers who press these schemes and denounce opposition Sis due to ignorance' and prejudice seem themselves to be entirely oblivious to the fact that the people of this country clearly comprehend the underlying csuses of that disturbance. There was no lack of currency at that time to meet the commercial uses of the country, but there was a lack of capital. The banka in the great money centers had permitted their means to be absorbed in "undigested" securities, or In loan based upon them as security, and were not in a condition to satisfy the increased commer cial demand for money (capital, not cur rency) which always comes in the fall. The stringent loan market and high Interest rate, with the panic in the Stock exchange, naturally caused distrust and brought on the catastrophe which followed. It will be admitted that our banking sys tem should be able to meet without undue strain the operations of even freak bankers and speculators, but this may be accom plished without the aid of such drastic and doubtful propositions as thbse advanced. It 1b said that our currency system lacks elasticity and that aome means should be provided which will permit it to expund to meet the commercial demand for money. Our currency is far more expanded and la no more rigid than that of Great Britain, the greatest financial power In the world. The rigidity of the British currency system has at times been denied and nearly always obscured by the advocates of asset cur rency. The endeavor lias been to induce the pub lic to believe that this 1s the only country in the world with a rigid or restricted cur rency system. Hon. A. B. Hepburn of New York city has an article iu the October Century in which the strongest possible arguments for a central bank of Issue are advanced. In this article he frankly concedes the fait concerning Great Britain. lie states the debt secuVed Issue of the Bank of England Is limited to 14,000,000 (inrtt is now 18,400,000.) Beyond this sum the bank cannot issue a pound, except of what corresponds to our gold certificates ot deposit. Using his words, "the currency of England there fore possesses no greater degree of elastic ity than metallic money." Notwithstand ing" this fact, with about fhe-fourth of our money volume, it manages not only . its own finances, but the finances of the greater part of the world. We should not allow dust to be thrown Into our eyes by the assertion that there is no real difference between a bank note liability and a deposit liability, i Upon the bank notes it is made to have that appearance, but in fact there is little similarity. Circulation corresponds more with "capital stock" than it does wHh "de posits." The loans and discounts made for a bank are from its own capital and the capital of others entrusted to Its care and keeping. The note liability forma a part of this capital and is manufactured from its credit supported by government sanction to give the notes circulation. Deposits may be withdrawn by checks at the will of deposi tors, but circulation, as a rule, is not withdrawn except at the wil! of the issu ing bank. : Gold is the only natural money and re quires no law to give it circulation. Paper or credit money performs exactly the same service that gold performs as money and Is subject to (he same economic law gov erning the production and circulation of gold. It forms with gold the currency capital of a country. The material difference between them is that gold probably in the long run costs In labor and capital all the value it possesses in use, but paper money is created without the labor and savings ordinarily demanded in the production, of capital It costs noth ing except thetaxes on bank notes imposed by the government. A practical illustration will show how credit may be converted into real capital. The necessities of the civil war caused the creation of a public debt far beyond what the capital supply of this country could carry. To meet the emergency, congress author ized the creation of banks with power to issue notes to circulate as money, the same to be secured by government bonds. The banks created possessed the capital to purchase tho bonds, but if the process had ended here they would have been left without means to do business. The circulation received was practically a return to them of the capital parted with and enabled them to meet the commercial demands of the day the same as in the or iginal capital had remained Intact. The creation of capital of this character Is a aerious matter and it should not be done except In grenX emergencies or to serve a public purpose. . It should never be authorised to aerve merely the personal Interests of individ uals or corporations Our national bank currency was Issued for a public purpose and still inarrAalns that character by lowering the interest rate paid on the public debt. It should, however, be limited iu its volume Just as the Bank of England notes are limited, otherwise there is danger that an Increase In the public d -bt may cause an excessive note Issue and lead to the export of gold. Paper currency, whenever issued. Is at once absorbed in capitalistic enterprises, the same as a similar amount of gold would be absorbed, and cannot be with drawn' except at the cost of much suffer ing and distress. Whatever amount is withdrawn would be a strain to that ex tent upon the capital supply of the coun try. This was evidenced when at the close of the civil war the government undertook to cancel and retire its excessive Issue of legal Render notes, which was absolutely required to enable the country to return to a specie basis. It was forced to suspend the operation and even then, the panic of 1873 followed with its years of business depression and liquldaalon. Bank notes will continue in circulation so long as there Is profit In the transac tion and money is always worth something. There csn -be no such thing as automatic redemption;' nothing will bring the notes back except loss of credit or an excessive Issue leading to gold exportation. Mr. Hepburn In his article undertakes to show the contrary of this. He says: "Had we had an elastic currency, based upon normal bank assets, the volume naturally would have contracted enormoBBly during the period of business stagnation follow ing the panic." ' But this is merely an opinion of Mr. Hep burn. There Is nothlngin our "currency ex perience to Justify it. It ia conceded that our present' secured bank currency does not contract In that way, no matter liow great the stagnation may be, and this condttion would affect it In exactly the same manner as an unse-1 cured currency would bo affected. Mr. Hepburn recognises this fact and endeavors to explain it away. Referring to the bonds the bsnks. must, carry to obtain circulation he says, '"own ing these bonds and lUable to sell them except at a loss, the banks struggle to keep out circulation against the same in order to lighten the burden of carrying them; and. this is the reason our bank note volume does not contract." Banks do not as a rule sell, bonds and retire circulation, even at a profit, unless the profit Is so large as to render selling more profitable than holding and why should they sell st a loss? The proceeds of the bonds sold would 'merely cancel the circulation and nothing would be gained by it, whereas even If they retained in their vaults every dollar of their circulation, the bonds would con tinue to give returns. There can be no burden In carrying the bonds unless the. taxes paid the govern ment on circulation exceed the Interest received, and this may be saved by merely holding the notee. This writer has been engaged in the national bank business since Its establish ment yearly fifty years ago, . and it has never occurred to him that a "struggle" was required on the part of the hanks at any time to keep their notes in circulation. I do not think that Mr. Hepburn will find many bankers In the business ' to agree with him in the statement. The only appearance of redemption the system has ever incurred except the return of mutilated notea. Is referred to by Mr. Hepburn, The New York banks snd. perhsps at times, the banks of other central reserve cities, in order No maintain the reserve of legal tender money required by law, are forced to exchange national bank nbtea for legal tenders. But this kind of redemption really amounts to no redemption at all. It arises from no difficulty the banks en counter to circulate the notes, but from the requirements of tho law. The 222.291,620 of bank notes which Mr. Hepburn says were last year deposited In the treasury for-redemption by the New York banks were at once forwarded to the banks which Issued them and by them im mediately returned to circulation the same as any other money. They were out of circulation for no longer time that gold or any other currency In process of transpor tation from place to place. The weakness. In our banking system arises, as an able English writer expresses It, not so much from the lack of ''elastic currency" as from inelarfUo banking. Our banking' law concerning reserves Is Ineffective and weak as well as ridiculous. No means are provided for concentrating resources snd making them useful in times of stress and panic; on the contrary, the arrangement Is Just the opposite and tends to make every bank a panic breeder in stead of panic breaker. While the actual money required to be j held on hand by every bank is insignifi cant for the protection of depositors for which it is Intended, It sufficient un account of the multiplicity of banking to take from circulation the larger part of our circulating medium. The absurdity of our reserve require ments Is shown in the necessity placed upon the New York banks, as stated by Mr. Hepburn, of shipping many millions ot na tional bank notes to Washington in order to obtain the species of currency desig nated aa reserve money. These banks may hold aa reserve silver and silver certificates which art redeem able in nothing, . and 'yet national bank notes the safest - of our currencies, be cause redeemable at the United States treasury and protected dollar for dollar by national security as well ss the capi tal of the issuing banks must be ex changed for other money merely for a technical difference ' between them indi cating a use for the superior currency almost forgotten In actual business trans actionsthat of legal tender. The subject of bunk reserves was fully' treated in an article by the writer which was published in the March, 1 Issue of the "Annals ot the American Academy of Political and Social Science" and will not receive here any further extended notice The emergency circulation susu'sted in that paper and advocated by him for many years fur the prevention of panics found p.actical legislative expression In the Ald-rlch-Vreeland bill, which, it i.iay be re called, was vehemently opposed by all of the asset currency bankers. ' If not one-dullar of currency is ever Is sued under that law it will only offer the strongest evidence of its sufficiency to ful fill the purpose intended. With the support that it affords banks in time of panic will be more composed and will not seek wildly to strengthen their reserves by calling in loans. Mr. Hepburn says: "We slready possess a great central bank the Treasury de partment; it la the greatest bank ef de posit In theworld " This writer In the article . referred to called attention to the same fact and urged a more extended use of that department for the purpose of bank reserves. All that we need In our financial system that a central bank of Issue would supply, can be .equally as well supplied by the Treasury department. It is not necessary for the purpose that the government should go into the banking business. Increase, if thought best, the ratio of reserve now required for banks, but instead of so much actual cash on hand let' the cash reserve include balances due from the United States treasurer and approved securities held by him. The se curities could be specially designated and confined to those generally termed "saving banks bonds." Then permit' the banks when it wss needed to draw on the treasurer not only Into the extent of their balances, but to that of the securities deposited. The credit balances with the treasurer would always exceed the overdrafts and the, resulting Interest charged would mako the keeping of cash reserves attractive instead of lock ing up 'the cajh at home. This was practically the plan outlined by the writer in the article mentioned and it could be accomplished without the slightest risk on the part of the govern ment. The business would be conducted along goneral lines applicable to all banks without any opportunity for favoritism or preference. The people of this country will not object to the treasury being used In this manner as a custodian of bank reserves, but publio sentiment Is not likely to be united in favor of the establishment of a great cen tral bank, witli all of its evil possibilities, even if It can be made to accomplish a much deserved result. - , 1 Humphreys' So venty-Se ven' Famous llemcdy for Grip & To reiterate, attend to the "first feeling" of a Cold; laseltude and weakness; by taking a dose of "Seventy-seven" at once, the iuimedlata cure will be certain. If you delay until the Sneezing. Coughing and Sore Throat get in, ttiA cure by "Seveuty-beven" wlll.be Just as euro, but It may take longer. Handy for everyoody, fits the vest pocket. All Druggists 25c. Humphrey's Honieo. Medicine Co. Cor. William and Ann Streets, New York. TWENTIETH CENTURY FARMER Oae Dollar Year.
