North Carolina Newspapers

Page Two Tits CAUCASIAN (Thurvlav, May IS, 1?M The Caucasian AND HAXEK.H KN'TEKI'RISE. i.HMSHI'.K KVf.hV CA!CA5IAN PUSLISLH-G COMPANY were able to raortKape the State to ;the railroads and to the trusts. If j these game lJ'mocratic machine pol jiticians were in California, they I would, of course, there appeal to race prejudice against th" Japs as a cover under which to inortat'e that Stat1 . to monopolies. A Plan for Cheap Farm Credits. Washington. I r . May lt l'2. !iitor rhariott" Ob.--rv-r. rharlotte. N. r. iJ'-ar ,ir: In a r- -nt editorial t 'Ah-, 'i. V'BAlt fjit Months tico li you ornni ntd upon my article j chap loan .orating a ht-m n credit to farmers and farm tenants. t mwtins Monday after- an'J ai1 th 1 offered no plan. Th- plan for a fcVfet m of cheap farm r-j- ; ' ' THIOIti; IS A KKASOX Til K STATU IS MOKTC;Af;KI. The Greenville Reflector says: The fJrenshoro Chamber of Com merce held noon and passed a resolution calling on Governor Craijr to call a special tension of the l'Kifelature in thirty days to deal with the freight rate question. Delegates were abo ap- d th" bar,. rv:fio:i ht a.o L.. loanti: c i.t J .. :. d - at i lo ri!- . I- :. ., ..':.: :-; '; si:i;r-'! i talj S? :, - t: x; t ? : a r- th- ii-r:. :;; s -:'t a:t h- f.iri;.r. , i h-ap capital or ih prv; rviion. and tt-r- th- Jntvr- : "What North Carolina can not understand Is why it should bankrupt the railroads to give this State as fair a freight rate as prevails in neighboring States." its can b- copied from any of th i-'i' -Hf t;l plans now in operation in a d )Z-n countries. The probl ru h-r-and e T w h-re is how to -cur uf!icient cheap capital to make any of thete plana a complete success. The essence of my surest ion was O ra?- : t K'f a- hi:h a. 5 hi r I'estal ;tSn? Ha . !. ro-.Ti' r pro; ;d "f 1 1-4 i r r-!it :. . k s:? fvr a urrei.? d- i pointed to attend the meeting of i ' 11 .1 - . T Knippers irom an over tne aiaie in the use of I'ostal Savings Bank funds Kaleigh today. It appears that there by the government, to supplement are some who reallv believe that the Ixmocratic administration is in earn est about wanting cheaper freight Of course it will not bankrupt the rates in North Carolina. They may efficient means for supplying utfi rallroads to give our State the same be in earnest but they are giving no cient capital, declaring that the farm- freight rates which they charge Vir- evidence of the fact. The indications ginia and other neighboring States, are that Simmons of the State is still but the Reflector seems to still be ig- in full force and effect. norant of the fact that Simmons and , the Democratic machine have mort- Mecklenburg County has already gaged our State to the railroads and felt the pinch of Democratic hard the trusts. I hat is tne reason we times funds that would be raised bv the farmers, to furnish the capital necessary for such Farm Credit Hanks. You objected to this ready ers need no help from the govern ment, and that all they had to do was to rely on themselves and use the building and loan association plan to secure all of the money that wan needed. All experience has shown that the one essential thing for the success That county has tried to float of the Farm Loan Credit Hanks is are robbed of from $10,000,000 to $15,000,000 a year in excessive and discriminatory freight rates. The Greensboro News, commenting on this situation, says: "The carriers, after admitting the inherent justice of the var ious complaints advanced by North Carolina business men, seemed to lose all interest in helping to rind a solution, the roads doubtless presuming upon the great reluctance of the State authorities to resort to re taliatory measures, eren as a protest against admitted wrongs. Today we feel that the railroads are unlikely, of their own mo tion, to undertake to find a rem edy. For a period covering many years North Carolina has been used as convenience, a fac tor in arranging cheaper rates in other States, and the roads will not readily relinquish this arti ficial support. "It is the people of the State who must do something." a $325,000 bond issue at 4 1-2 per cent interest, and has failed. They would have had no trouble in float ing this bond issue under our recent Republican prosperity. See in another column an article proposing a plan for a system of cheap farm credits, for land owners and tenant farmers. Such a system is needed, not only to make farming more profitable, but also to keep the high class yoemanry on the farms and thus preserve the very founda-! supplement the capital furnished by to be able to secure as much capital, at a low rate of interest, as the land owner and tenant needs, and for which he can offer ample security. The various countries of Europe where the governments have aided farmers, in supplying this capital, are countries wherein the most bene ficient results have been accomplish ed. The system of cheap farm credits in France has been more suc cessful and beneficient than in any other country in the world and this has been due entirely to the fact that the government has furnished sufficient capital to these banks, to tion of our republic. WITH THE EDITORS. But then let's hope any pray too, that it won't be altogether as bad this time as it was under Mr. Cleve land. Clinton News Dispatch. A new House will be elected next year, and if the tariff revisers fail ! to reduce the cost of living by that Yes, the people must protect them- time, without imparing the means of selves, and the only way they can put living, their excuses will not be an end to this mortgage on the State worth much. Union Republican, is to put the Democratic machine out Th Southern tton planters are oi power. j now rising up in rebellion against President Wilson's tariff bill. In time the opposition may become vir tually unanimous, as was the case with that other Wilson bill passed in Cleveland's second term. Union Republican. Partisan politics with business men is fast becoming a very second ary consideration, compared with business and general friendship. They can't afford to thus sacrifice their own living and happiness that some less worthy may get a job. Hickory Mercury. LOOK AT THE TWO PICTURES AND TAKE YOUR CHOICE. The Charlotte Observer in an edi torial draws a striking contract be tween two radically different govern ment policies that affects every in dustry anil laborer in this country. It says: "In the days of McKinley, the con cern of the Government was about export trade and ships to carry our goods to foreign markets, and meth ods to open up foreign markets for domestic manufacturers. Now the And This in Raleigh Under Demo- concern of the Government seems to be to open up our domestic markets to foreign goods and to develop an import trade, rather than an export trade. "Tariff making for the benefit of the people is not a matter of fixing so that they buy things cheapest, but is one of fixing the people so they have the money to buy with, at living prices. It is easier to make and save money when work is abun dant and prices high, than it is when it is hard to get a job when prices are low." cratic Good Government. It is said there is one member of the board of aldermen who has not paid any city taxes in ten or twelve years. He is comparatively a well-to-do man, too. No wonder that man fought the commission form of gov ernment, and since it was adopted over his opposition it is not to be wondered at that he is fighting to have his tax collector friend given one of the commissionerships. Ral eigh Times. One policy is the policy of protec tion and prosperity in American in- LATE NEWS ITEMS. ! A delegation appointed by the Porto Rican Legislature to defend dustry, the other is the Democratic the interests of Porto Rico in connec policy which pleases and profits the tion with the pending Underwood foreigners and which brings hard tariff bill arrived in Washington times to Americans. i Monday. Porto Ricans say the free , A . A, A ! sugar provision in the tariff would v oie lor me one mat you want, ; paralyze their sugar industry. WHY SUFFER SUCH CONDITIONS Ktrifkem nn his wav from a train LONGER? j to tne capital to vote on the tariff Here we are with the poorest sys- bni schedules, Representative Lewis M . . , . j . J. Martin, of Newton, N. J., died tern of public schools in the United . , , . .. . . of apploplexy in the union station States, with increasing extravagance, in Washington. He fell to the floor increasing taxes and increasing bond in the station and died a few minutes issues, .all the fruit of the most in- later in a waiting room. competent state government; here we are with the national administration Mr. John S. Wise, former Virginia Congressman, died Monday at Prin- threatening to close up factories, put Cess Anne, Md. He was the Repub laborers out ,of employment and to lican candidate for Governor of Vir- reduce the price of all farm products. Sinia in 1885 ag118 General Fit2- t i0 n T5 ut hugh Lee, and was defeated by a It is time for all Republican fac- . small margin. Mr. Wise was a tions and all patriotic citizens to get prominent lawyer and gained some together and rescue our people from notoriety a few years ago by his ef a continuation of such needless ca- forts t0 have tne Southern disfran- laniitiQ chising amendments declared uncon stitutional RACE PREJUDICE AND MACHINE POLITICIANS. The Western Carolinian Enter prise, in a recent editorial, says: "If you don't believe that prejudice is stronger in politics than prudence, reason, or pa triotism, just cast your eye over towards California." Congressman H. C. Young Resigns. H. C. Young, Republican Congress- , man, representing the Twelfth Mich ; igan District, resigned Saturday as the outcome of a bitter contest be tween the Republicans and Progres sives of that district. Young, how ever, still is a member of the House because that, body must accept his resignation before he can leave. The the farmers themselves, so that every farmer may secure all needed capital at a very low rate of inter est. This government is in a position to assist its farmers by furnishing such capital, even to a larger extent than France is doing, and can do so without loss or risk, by using for this purpose, the large and increas ing funds deposited in Postal Sav ings Banks. This is the plan that I proposed, and if put into operation would solve the whole question and would result in the immediate estab lishment of Farm Loan Banks in ev ery agricultural community of the whole country. The European systems have, everywhere, been a success to a greater or less degree, the degree measured, however, by the amount of available capital for such loans. The building and loan plan sug doubt, intended to followshrdlu-ezjd eested in your editorial was, no doubt, intended to follow the plan in operation in parts of Germany and Austria, known as the Schulze- Delitzsch Banks. This system of co operative banks is not composed of farmers alone, but includes artisans, merchants, industrial workmen, pro fessional men and persons of inde pendent means. The last report, which I have before me, on these banks shows that only 2 6 per cent of the membership are farmers, and that only 2.41 per cent are farm la borers or tenants. These banks are operated on the building and loan plan of this country, and are not run chefly in the interests of the farmer, but especially in the interests of dwellers in towns ani cities, and the rate of interest is higher than in the pure farm loan banks, known in Germany and Austria as the Reiffei sen System. These building and loan (Schulze- Delitzsch) banks, which are operat ed for profit, were established in Germany and Austria before the Reiffeisen Banks, but their failure to meet the needs of cheap farm credits caused the establishment of the latter system which makes loans only to farmers and farm tenants, at a low rate of interest and without any profit to the members or stock holders. The farmers of those countries are rapidly withdrawing from the build ing and loan plan, and therefore, ! the Reiffeissen System of Rural Banks has been rapidly growing. These two co-operative systems of credits, at low rates of interest to their members, have been adopted with more or less changes in every country in Europe. The capital for these banks has been chiefly secured, either by membership dues, or stock taken by the members, or by the is sue of bonds behind which all of the property of the community stood as security and also the deposits, similar to deposits in our Postal Sav ings Banks, by the members and cit izens generally. Many of these banks started, at first, as purely co-operative concerns with no government supervision, but by degrees in nearly every country they have been super vised and regulated by the respective governments, not only for the safety of the members, but to enable them to float bonds to raise capital on more favorable terms. The bonds of such banks sell at almost as high a rate as government bonds. These banks have, everywhere been a success, but the extent of It was under envor nf o a nnnol . . - i Progressive was contesting the seat to race prejudice that Senator Sim- Young decIded also that he was mons and his machine, in this State, not fairly elected. and aio that -av h depositor can. at anj time, turn his o;-n ac uniii'. into a p-rm'aii2it mv ti: !;. and receive the covernnu-nt Postal Savings Bank bond. SM-ral million dollars worth of the- bonds fcav already been issued to depositors in Postal Saving Bank Bt-Md'S, ttn-r- an- today, over I ."'.r,'.!...ni.. on deposit in the Postal Savins Bank, in opn an ounti. Thi enor mous sum would be at on -, sm t--d upon the discretion of -ar h de positor to ih- government, in bond. i-sued by Farm Loan Banks, whieh ((Mild afford to offer a rate of inter evt from 3 to 1-2 p.-r cent, and the fat that such deposits could h invested in such safe, high-class bonds, would result in soon doubling the deposits in Postal Sai-ings Banks. A few days since. Senator Hoke Smith, of Georgia, introduced a bill ( S. 1 .". . 7 ) to amend the Postal Sav ings Bank law, by increasing the rate of interest to be paid depositors from 2 1-2 la ?, per cent per annum. The purpose of this proposed in creased rate of interest is to induce a large number of people to deposit their savings in Postal Savings Banks. If the suggestion which I have just made should be adopted, then such a bill will not be neces sary to increase the deposits in Pos tal Savings Banks, for the bonds of Farm Loan Credit Banks will be as secure as government bonds, and at the higher rate of interest would stimulate such deposits and absorb them as fast as made. At present, the accumulations in Postal Savings Banks are deposited by the government tn neighboring National Banks, to be loaned by them at 6 per cent, or even a higher rate of interest; but no farmer is able to borrow a cent of this money, on his land, even at such a high rate. Now, why should not this money, on which the government pays only 2 1-2 per cent interest, be loaned to the farmers at a slightly increased rate, just enough to cover the cost of supervision of the transaction? In short, the Postal Savings Bank system can be used to make the pro posed Farm Credit Banks a certain, nation-wide success, by furnishing the amount of cheap capital neces sary to meet all demands. This would result in making country life more comfortable and attractive. The stability of our republic de mands that the flow of high-class yoemanry from the farms to the towns and cities should be checked. 1 suggest that we should adopt the Reiffeissen System of Germany and Austria, or the Credit Foncier Sys tem of France, or the Sub-Treasury plan of the Farmers Alliance. The Farmers Alliance put for ward the Sub-Treasury pHn more than twenty years ago, as one pro posed method at a low rate of in terest to the farmer. That was noth ing more or less than a modification of the most successful European sys tems, where farm products, imple ments, etc., are used as the basis of loans. The Sub-Treasury plan has been adopted successfully in several places in our country, but it will spread slowly and never be put into J general practice, nor reach its great- ; est usefulness until the system is es- i tablished under government super vision, and that is what the Farmers AlLance urged Congress to do. The Farmers Alliance also urged the establishment of Postal Savings J Banks. These banks now being an ! established success, furnish abun- j dant and cheap capital, the one thing j necessary to establish a great naton- j al system of cheap long time farm j credits which will result in an in-: finite benefit to the farmers and an ) infinite aid to stability of the re- j public. No subject calls so loudly for the highest statesmanship and deepest patriotism. The Best Bargain You Ever Made OW do you measure the value of a bargain? Suppose you bought an engine that did practically all of your hardest work (or you, saline, pump inL' trrindinr. etc.. and that saved so much money that it soon paid for itself. Would you call that a good bargain? An I H C encine will do all that, and more. Having paid for itself, it works stradily year after year until, like our Clay County friend who has ured an I II C engine f r six years, you will say. "My IHC engine is the best bargain I ever made I H C Oil and Gas Engines are thoroughly dependable, and unusually durable- The fine-grained, grey iron cylin ders and pistons are worked together to a perfect fit. Ground piston rings insure maxi mum power from the explosion. The fuel mixer is the most effective known. Hearings are large and carefully fitted No part is too heavy to be efficient, yet every part is amply strong. IHC engines are made in all styles verti cal and horizontal; portable and stationary; air and water-cooled; in sizes from 1 to 50 horse power, to operate on gas, gasoline, naphtha, distillate, kerosene or alcohol. Oil tractors, 12 to 60-horse power, for plowing, threshing, etc.; grinding, sawing, pumping and spraying outfits, complete the line. The IHC local dealer will show you all the good points of the IHC engine. Get cata logue from him, or write International F tester Company of America vliicorporatcd) Charlotte N. C I- Dodging Pain and High Prices Invariably h n a person iu suf fering with bad tfeth one har: "If it were not for the cont and the pain I would hae my tt a filled or extracted for a plat." To sufferers with bad teeth we wish to make it emphatic that we NOT ONLY FILL Oil EXTRACT T KMT 1 1 WITHOUT PAIN, HUT UK DO TIIK WOIIK KKiHT AND l OU MtCH LKSS. The saving i com ing here is very noticeable. With su-h reasonable prices a pern can come here and have all the needed work done at thf same time. When on the other hand going to an expensive dentist it ery ft'n has to be done a liMie at a time, or just when the money la avniluhU: to pay for the work. Several expert sp. cialitts to serve you well. MODERN DENTAL PARLORS, Inc 105 1-2 Fayetteville Street (Over INmeJ & Powell.) KDITOIt SENTENCED ROADS. TO THE OUR BIG BARGAINS Visit our new store at No 14 East Hargett Street and inspect our stock. BARGAINS IN SHOES B4RGA1NS ON GINGHAMS AND MUSLIN These special BARGAINS are offered for two weeks only so come early. Joe Sonnipa 14 EAST HARGETT STREET RALEIGH N c Mr. Aycllett Sued Editor Saunders on Account of Article Published in the Independent Elizabeth City, May 10. W O. Saunders, editor of the Independent, a newspaper published here, was convicted of criminal libel this morn ing Jn a trial justice's court and was sentenced to six months on the county chain gang. The defendant's attorneys served notice of appeal. The trial this morning was the result of an article that was published in the Independent several weeks ago, making statesments concerning Mr. Adylett which Mr. Adylett alleges are libelous and defamatory. Veterans Given Annual Dinner. All the comrades at the Soldiers' Home in Raleigh were given a dinner their usefulness has depended upon! in the capitol square in Raleigh the securing sufficient cheap capital to be loaned to their members. There-j fore,, wherever the government haa f ?.0th of May, which was Memorial Day. The dinner was furnished by the Daughters of the Confederacy. Saleiab iHarble KPorlis Shipments made to any part of the State at same price as at shop. MCHUMEITS COOPER BROS.. Proprs RALIOff V. C wr umr to Adrort n-r rtectlon tbe CBeaic.-TC When writiag advertiser, pteaae mention this paper. A i f . i