The Danbury Reporter
PEPPER BROS.. EDITORS AXD PIBUSHKKS.
Subscription : 3 mo., 25c.; 6 mo., 50c; one year, SI.OO
WEDNESDAY. OCTOBER, 28, 1914.
GALLED IGNORANCE.
The editor of the Saturday News, a paper published at Walnut
by R. F. Reynolds, comes out as the bold champion of that
biaiant element going about the country yelling "panic." In his
last issue Mr. Reynolds makes very pertinent reference to this
paper in an article headed "Gall or Ignorance." The article is
given below:
"For unadulterated cheek the following from the Danbury Re
porter. not oniv takes the cake but the corn dogger as well:
"There is no panic, there will be no panic. Everything a farmer j
csr? produce in the country is selling at good prices for cash, except
cciton. and as soon as the war is over, or long before, the cotton
situation will be adjusted. Tobacco is selling as high as it ever
s:id before, with the exception of last year. The banks are all
sound, and money is available on good security. A man who wiii
g? around over the country yelling panic hasn't enough sense to be
dangerous, but he ought be muzzled for a common nuisance.
"The writer of the above should mingle with the tobacco grow
ers on the markets a day or so, and see what they say.
"vVe have heard the cashiers of both the banks here say that
m.nev was unusually close, and no loans can be made on any kind ■
of reasonable terms.
"Oh, no, there's no panic, it is merely "psychological."
"»Ve don't blame him for putting it in small type."
Mr. Reynolds has yet to learn that the refusal of a loan, does not
a! rays mean panic. Offtimes banks even in the rlushest times turn
d •vn applications for money for a number of reasons. For instance,
a bank may be "loaned up." that is it may have put out as much
n:.ney as it desires in order to keep up a proper and conservative
b .'ance between its assets and liabilities. Indeed this situation
rr-.st often results in times of strong demand for money and pros
perity, an 1 does not indicate hard times at all. Again, a bank may
r- :'jse a loan because the account is not desirable, or because the
; ;: licant is already over-borrowed, or because the collateral offered
is r.ot up to the standard. According to the writer's personal
I. - jwledg2 there has not been a time since the memorable panic of
J 7 that a legitimate customer could not secure deserved accom
; viation at a bank in this county. Some would-be-borrowers are
t .i-ncj down because there must be a limit to credit somewhere:
OT~.ers because a loan tc them would be unsafe: still others because
i not s ;ir the bank's interest to accommodate them.
Mr. Reynolds says he heard the cashiers of both the banks say
t "money was unusually close." and this is so. but doubtless he
d . not hear the cashier of either bank say that "no loans can be
m:Me on any kind of reasonable security," because the facts are
0' 'erwise. '
•v.erv year from August 1 to October 1 money in an agricultural
region gets mighty close, because owing to the very inelastic cur
ren:y laws of this country crop-moving time just simply temporar
ily uses up the supply of available currency. This year of course
owing to the shock of the European war, the pinchy situation was
largely accentuated. But thanks to our new currency law, which
comes into effect on November 15, the financial problems which
have h irassed this country for generations will have all been solved.
But this reply to Mr. Reynolds' "galled ignorance" is all super
fluous. According to his own evidence there is no panic. In
the same issue of his paper he proves it. Hear him:
"The tobacco market has been strong here this week. Breaks
have been large and, quality considered, prices good. The average |
f'-r the week's sales has been around sl3, and practically every
grower seems well SATISFIED." '
i» The average around and practically every grower satis
fied. That is indeed fine.
1 BANK OF KINGj
: J| —. gg
H Is Open for Business! S|
Offering|You Safe. Honest. Courteous
jggj Banking Service. Start a Savings fggj
Account.
ippj We Pay 4 Per Cent. Interest, ragj
on time deposits compounded quarter-
ly. Give us your checking account,
if it is only a small one. We will ap-
Kjg3 predate it. ;ggn
DIRECTORS:
fife DR. J. WALTER NEAL N. E. PEPPER PPj
££§ C. 0. BOYLES M. T. CHILTON SK2
S. W. FULLIAM V. T. GRABS
W. R. KIGER. kBS
j||| V. T. GRABS, PRES. T. S. PETREE, CASHIER |p|
Gorrell's and Farmers
Looks Belter Every Day.
We have been working hard for our many customers this week during the heavy breaks, and
have pushed every pile offered to the buyers' top-notch price at Gorrell's and Farmers' Warehouses.
As a result we have been sending home more satisfied customers than ever.
The condition of the market looks better every day. Prices are better and the buyers are
anxious to get all they can.
The market will have big breaks again next week. You will want to be on first sale and
Farmers' Warehouse will sell first on Tuesday, Thursday and Saturday of next week and Gor
rell's first on Monday, Wednesday and Friday. ,
We are looking for you, and will be prepared to serve you and do the most for you.
Ship us your tobacco if you cannot bring it, and we will give every pile our personal attention and sel! it just as soon
as it arrives. Your friends,
The Gorrell Boys.
First Sale Days: Gorrell's—Mondays, Wednesdays, Fridays.
Farmers'—Tuesdays, Thursdays, Saturdays.
A Period Of Great Busi
ness Activity Soon To
Be Ushered In.
.Manufacturers Record,
i From everv direction come re
ports of the heavy purchases
that the European countries now
at war are making in this country
: of everything from foodstuffs to
keep alive to the ammunition and
jguns with which to kill them:
from the horses on which to
mount the cavalry to the feed-:
stuffs needed for the horses.
The demand seems to be steadily i
increasing, and includes almost
every yariety of goods.
While it is altogether probable
that this demand will steadily in-,
crease during the continuance of 1
the war and bring activity toj
many lines of industry, it is not
so much what Kurope is buying i
today as what Europe will be
compelled to buy when the hor
rors of war are supplanted by;
the blessings of peace that we
must take into account. When
ever that time comes Europe will 1
be bare of everything except
poverty and sorrow. It will be '
bare of money and will have to !
pay a high price for the billions '
of dollars that will be needed ]
for the reconstruction of its busi- !
ness and the re-establishment of
its government finances. It will
need foodstuffs, and it will need,
and need badly cotton goods of
all kinds. It will need railway
materials and finished products
of iron and steel. Some of these
things the warring nations, when
at peace, will be able to provide
for themselves, but many of
these things they will be com
pelled to buy from the United
States in order to fill the vacaum
created by the destruction of
everything that is now taking
place.
Europe may be very nearly bank
rupt in one sense when the war
is ended, but it will still be able
refinance itself and reorganize
its business interest, though the
cost mav be frightful. However
long may be the delay before the
blessings of peace come to that
distracted land these blessings,
sooner or later will come, and
then there will be a board move
ment to re-establish trade and
commerce, to reorganize business
and to fill in the gap in the sup
plies, which before then will have
been exhausted, of foodstuffs, of
clothing and of many other
things. South and Central
America and Asia will before
then have readjusted their
financial condition to a consider
able extent, and they, too, will
have to come to us for heavy sup
plies.
These facts should be given
serious consideration in order
that the industrial interests of
the country may, during the
present time of comparative dull
ness, get ready, by the enlarge
ment of their plants, to take
care of the great burst of activi
ty which after a while will flood
THE DANBURY REPORTER
■ j this land with abounding pros
, perity. The time will come
when every cotton mill in the
United States will be running to
the utmost limit of its capacity,
and running night as well as day
i in the States in which this is le
gal if the labor can be supplied.
The time wiil come when our iron
, and steel industries will once
more rejoice in abounding activi
ty. The time will come when
the demand for foodstuffs will
tax the productive capacity of
this country, and every farmer
;in the land should take this into
account immediately and not
wait until next spring, for there!
are many crops that can be put;
into the ground in the fall. Just !
' now many of the leading indust- j
, ries of the country are inactive, j
1 A good many business concerns
i would not be justified in incurring j
expenses which they are not in
a position to finance easily, but,
, there are thousands of mills and j
factories of many kinds through
out the land that are financially !
strong enough to utilize this time j
of inactivity to get ready for the
day of coming activity. It is a
great mistake to postpone plant
improvements, which during a
period of dullness can be done
at lower cost, to days of prosper
ity, when the cost is greater and
when the enlarged plant is not in
operation to get the full bene
fit of the season of activity.
There are many mills of many
kinds throughout the land which
could today very wisely be scrap
heaping out-of-date machinery
and putting in modern, for there
are thousands of plants finan
cially able to do this. There are
many that could utilize the
present occasion to enlarge their
capacity or to build new mills.
It is possible in this period of
low prices and of an oversupply
of labor to have work done at a
very much lower cost than will
be feasible when the next boom
period comes upon the land.
In the light of these facts the
whole country ought to be putting
itself in shape to do business on
an enlarged scale. It ought to
be making its plans to take care
of domestic consumption and to
provide for the present heavy de
mand from Europe for a wide
variety of manufactured pro
ducts, as well as of foodstuffs,
and at the same time get ready
for that still greater trade which
is certain to follow the ending of
the war.
It Always Does the Work.
"I like Chamberlain's Cough
Remedy better than any other,
writes R. .E. Roberts, Horn
Citv, Pa. "I have taken it off,
and on for years and it has never
failed to give the desired results."
For sale by All Dealers.
To Clean Off Graveyard.
The citizens of the Friendship
section are asked to meet on the
second Saturday in November at
one o'clock and help clean off
the Philip Kiser graveyard.
W. G. KISER.
J— —■
I Are You
I Honest?
With your land when for the I
sake of saving a few dollars I
you use a fertilizer whose 2
only recommendation is its fl
analysis. It requires no spe- H
cial knowledge to mix mate- U
rials to analyses. The value I
■ of a fertilizer lies in the ma- I
terials used, so as not to I
over feed the plant at one # [
time and starve at another. ' L
This is why Royster brands
are so popular. Every in
gredient has its particular
work to do. Twenty-five
years experience in making
goods for Southern crops has
enabled us to know what is
required. #
H See that trade mark is on every bag U
TRADE MARK ||
i
REGISTERED
F. S. Royster Guano Co.
NORFOLK, VA.
£ The Genuine
I IFFL ROGERS BRQSJ
Spoons,Forks,Knives, etc. _W
jl ft
11 m manship and finish of the best ster- |g
1J ling silver, at one-fourth to one-eighth fl
Jif thC CoSt ' | **»£»"*
Much of the sterling now on the || *****
market is entirely too thin and light J& !
rcSfgmfire® for practical use, and is far in- W J. j
oty&tjvr&Tt ferior in every way to "Silver j
ft I Ask your dealer for " 18£7 ROGERS £> A
W 1 BROS." Avoid substitntes. Onr foil | |
trademark is "1847 ROGERS BROS." I/) Aft I' '
I look for it. Sold by leading dealers \(\||/i/
I I everywhere. Before baying write for \\ \ H
V J WTMMATIOSAt »1LTI» CO. IK
\ / HERIDEK BRITANNIA *CO, MwMM, Com. "