BEST CURE FOR PANICS.
SUte Treasurer Folk of Tenn
essee Shows How Guaran
teeing Bank Deposits Will
Protect the Depositors,
Tettd Prevent Panics and
Demoralization of Public
Confidence It Will Be a
Blessing Also to Banks and
Will Prevent Concentration
of Money in the Big Centers.
Chicago, HI., September.
Mr. R. E. Folk, State Treasur
er of Tennessee, who was in Chi
cago yesterday, speaking of the
proposed guarantee of deposits
in banks, said:
The plank in the Democratic
National platform favoring the
guarantee of bank deposits under
governmental direction is the
only feasible remedy that has
been suggested for the panic evil.
The importance of a remedy is
apparent when one reflects that
we stand in constant danger of a
demoralization of public confi
tlence as a result of a local finan
cial disorder, especially if the
disorder be in a big financial
center. But the importance of
an adequate safeguard against
the disturbance of public confi
dence becomes vastly emphasized
when the fact is realized that
under present conditions it is
possible for a group of great fi
nanciers to designedly bring
abouf a demoralization of public
confidence either as a rebuke to
the public or for the cold blood
ed purpose of adding to the pow
er and pocket of the great finan
ciers engineering it. Such a pro
cedure would simply parallel
upon a large scale the operations
that have frequently taken place
on the stock markets where a4
single stock has been manipula-i
ted up or down for the profit
both ways of the manipulators.
The panic last fall was a senseless
far as being based upon
any justifiable grounds. It came
at a time when the country was
prosperous and the general con
ditions outside of Wall street
were healthy. Whether it was a
manipulated panic or not, I do
iiot undertake to say; it is be
lieved by many that it was. But
the fact that a deliberately de
signed, manipulated panic is pos
sible under the present order of
things constitutes a grave and
overwhelming menace to the
public welfare, and makes it im
perative that a safeguard should
be erected so as to place it be
yond the power of any set of
men, no matter how powerful to
play battledoor and shuttlecock
with the public confidence. The
public confidence is a thing of
highly sensitive organism, and
its healthy condition is of vital
importance to the happiness and
prosperity and development of
our people. It is no less than a
national crime to permit public
confidence to be made the foot
ball and plaything of market ma
nipulators. The guarantee of
bank deposits under the govern
C:t3, Rye and Bailer.
We are not only the largest deal-CV
era in teeu uram m we feoutn, but
we sell the best, cleanest and
beariest qualities. Odr stocks are
secured from the best and largest
yielding crops, and our warehouses
are fully equipped with the best
and most improved machinery for
cleaning. If you want superior
3 JMmm4 VSenA CaaA
fricea qtibted 6a request
IrVirirn? fall information about alii
seeds, mailed free.
T. 17; WOOD & SOUS,
dmn, Richmond. Va7
mental direction will throw ade
quate protection about the public
confidence. Under such a sys
tem a bank in any locality may
fail without the danger of other
banks in the community being
drawn into the vortex. Under
such a system big banks in big
financial centers may be wrecked
without the entire conntry being
thrown into a financial convul
sion; in other words, troubles
would be confined to their own
area and could be viewed by the
general public with equanimity
so far as their general effect
should be concerned.
Th guarantee of bank deposits
under governmental direction
would insure the free and heal
thy circulation of money through
the arteries of our commercial
system, and relieve the danger
of stagnation of circulation by
reason of local causes. As the
free circulation of blood is essen
tial to the well being of the phy
sical man, so is the free circula
tion of money the life blood of
commerce essential to our com
mercial well being. It is the
function of the physieian to see
to it that the circulation of the
blood of his human patient be
not stagnated by a local disorder.
So it is a proper function of the
government to seer to' it that con
ditions are provided calculated
fof bring about the free and heal
thy circulation of the blood of
commerce, and to prevent stag
nation of the circulation by a
It goes without saying that the
details of the proposed system
should be carefully considered by
our law-makers. I do not believe
that deposits bearing interest or
more than a nominrl rate of in-'.
terest should be guaranteed, fori
the reason that it is not av func-
tivn nf fVip crnvprrirntit: fn miar-i
antee success 1H" any business
i-yire. anil mutiny pitveu m
interest becomes akin to a busi
ness venture. But that phase is
entirely different from that of
non-interest be'afin deposits,
which perform the functions of
lifeblood to trade;
I have heard objection made
by some banks to governmental
guarantee of deposits on the
ground that the system proposed
requires the good banks to pay
for the losses incurred by the
bad banks. My answer to that
is that the good bank now pays
for the failure of the bad one
and pays much more heavily
than it would have to pay under
the proposed guarantee system.
Statistics show that the amount
each bank would be called upon
to contribute under the guaran
tee system would be relatively
very small. It is certainly better
for the good bank to miike these
Small contributions than to run
the risk of paying with its ex
istence for the failure of th bad
It seems to me that bank fail
ures would be lessened under the
deposit guarantee system for the
reason that each bank would be
interested in the proper manage
ment of all other banks and this
Would inevitably result in more
rigid inspection against fraud
I want further to call attention
to the plank in the Republican
platform relative to the estab-
mnt of postal savings banks.
If Such a system should be inau
gurated it would prove to be akin
to the system of guaranteeing
bank deposits; but its unwhole
some effect would be the inevi
table tendency for these govern
mentally held savings funds to
gravitate towards the big centers.
Under the system proposed by
the Democratic party of guaran
teeing bank deposits, the inevi
table effect would be just to the
contrary; it would cause our
money to stay more at horde 2id
not be concentrated in th gfeat
PeWitt's Carbolized Witob Hazel Salve
in recommended as the b8t thing to uie
for files. Jt in, of course, good for any
thing where a salve is netded. Beware of
imitations. Bold by P. E. Davetiport. sel
Washington, N. C,
Sept. 16th, 1908.
Editor Roanoke Beacon:
I am gratified to announce that
a Farmers' Educational Meeting
will be held in Plymouth on Tues
day, Sept. 29th. There will be
a morning and afternoon session.
The meeting will open at 10:30
o'clock, and it is important that
those who expect to attend should
be on hand promptly.
Some of the, leading experts
iri agriculture will address the
meeting, and will discuss topics
of vital interest to every man in
Washington County interested)
in the sou.- inose engaged in
other vocations will also" find the
meetings extremely Interesting.
Drainage of farm lands will be
discussed by MK J. 0.- Wright,
one of the leading drainage en
gineers in the country. The
discussion of this topic alone will
more' than repay the time and
trouble in attending.
There will b rid politics about
the meeting directly or Indirectly.
The only purpose is to bring ben
efit to the people:
Jn& H. Small.
They fake The Kinks Out.
"I Live used Trv King's New Life Pills
for mauy yearn, with increasing satlsfac
tion. They take the kiriks ont of Ktoumcta,
liver and bowela, without fuss or friction,"
eays N. H. Brou,of Pittsfleld, Vt. Guar,
auteed sai.itifv'Wry at Spruill &, Bro's. lm
Dear Mr. and Mrs. Democrat: There is to be mighty gathering of
the militant hosts of Democracy at Mackey's Ferry, 6fi Wednesday, Sep
tember 30th. 1908. Governor' CkAftLES B. Aycock,- th eloquent, will be
there to preach the deathless doctrines of Thomas Jefferson and William J.
Bryan in all their pristine beauty.
You are especially requested to be present; you, your sons and your
daughters, your neighbor, arid the Republican living near. Above all,
bring a box well filled with substantial eatables, and help feed the multi -tude.
Come early; come prepared to rriake? this the greatest day Washington
County ever had.
THOS. W. BLOUNT,
A Paying Investment.
Mr. John WLite, of M Highland Ave.,
Iloulton. Maine, says; llave been troubl
ed whb a cough every vriutr and Spring.
Last wiuter I tried many advertised reme
dies, but the cough continued until I
bought a 50c. bottle of Dr King's New Dis
covery; before that was half gone, the
cough was all gone. This winter the same
happy result ban followed ; a few dose
onCe more banished the annual cough. I
am now convinced that Dr. King's New
Discovery is the best of all cough and long
remedies." Sold under guarantee by Me.
Spruill & Bro. GOc. and $ 1,00. Trial bot
tle free, sel-im
The following-named persons were
drawn to serve as Jurors at Fall Term Su
perior Court of Washington County :
Plymouth Township Jno V. Jackson,
E. W Harrison, W F Lucas, L M Hardi
sou, T 3 Oaylord, Hosea Peel, C H
Francis, A F Garrett, O It Leggett, J E.
Hooker, J II qkittfetharpe, W H Harri
son, S C Cbesson, M W Norman, J C,
Spruill and J A Bpruill.
Lee's Mills Township Jno W Cbesson,
Arthur Tail. Jno E Fhelps, N H Pea
cock and Jno W Cbesson .
rkinnersville Township W E Norman,
Robt Brewer, J M Leary, Epbraini Prit
chaid, Arthur Phelps, T 8 Swain, II II.
Patrick and E W Snail, Sr.
Souppernong 'Jownship Jaa A Am
brose, W W Spruill, 8r , Alva J Daven
port, W W Ambrose, J W Craddock, Jas.
G Woodley and T C Holmes.
For bale or Exchange,
At all times my object will be to
keep on hum! horsed and mules to
aftit every one, from t lie cheapest to
the beat, and to satisfy.
All stock MUST be as represented
or money will be refunded.
Soliciting your patronage I am,
Louis P. Hornthal.
TMt NORTH CAROLINA
Practical education in Agricul
ture; in Civil, Kfectrieal, and Me
chanical Engineering; iri Cotton
Manufacturing, Dyeing and Indus
trial Chemistry. Tuition $45 a year;
Board $10 a month. 120 Scholar
ships. Examinations for admission
at the College oh September 2.
West Kle?ghy N. C.
nA8 HOOOf) aAllVXVIIVNIOIMOlHA
Wheat you hdie a Cold yon may be sure
that it dm beta Caused indirectly by con
Btipatlou and consequently you ruuat lirst
of all take something to move tbe bow elf.
Thin is what Las made Kennedy's Laxaiive
Congb Syrftp: so ueesful aud so general
ly demauded. It does not constipate like
most of tbe old fashioned cough cures, but
on the other baud it gently move the
bowels aud rft the saiiie time heals irrita
tion and allays inflammation of the throat.
Sold by P. E. Davenport. e!-ni
!S TRINITY nnuuRBRts
ate, GnidnaU', Khginifering
aud Lnw; Larg librurjr fucili
ties. H euiped fttboato
rics in all departtnobl of Sci
ence. Uymnaeimn furnished
vi tth best apparai Hi. Expenses
31 very moderate. Aid for worthy
TOUNO MEN WISHING TO 8TDDT
LAW SHOULD INVESTIGATE TUB
SUPERIOR ADVANTAGES OF
FERED BY THE DEPART
MENT OF LAW AT TRIN
ITY COLLEOC. . .
For Catalogue and farther
Amman, n. u.
Sold by Spruill & Hro.
SO 4ffr ENAMEL
XJ BLUCIIER J
IOLACI! LAST .
Not only are the best of leathers used in the manufacture of
RALSTON SHOES, but also only the choicest parts of the skin
are used as you Will see in the above diagram.
After, being" cut, the parte are "fitted" and finally lasted over
the famous Ralston lasts the" only lasts which provide for sole
fit as well as upper fit.
RALSTON SHOES besides being made of the finest materials,-
fit perfectly, and becauate there is no strain on any part,
they hold their Shape longer, and wear better thon any other
similar prieeel shoe we know.
Let us shoW you our fine variety of Fall styles.
THG3, J. GAYL0RD,
Plymouth, N. C.
M. tiOND, JR.,
Plymouth, N. C.
I am still in iho lead, selling tbe
Best work for the price,
Bdtli Open and Tup Bugjies, with all
styles of Springs.
I am introducing a very fine riding
Guaranteed to Last,
and no good service,
I now have a tine line of work on
hand and can till orders promptlyand
for the quality of work, 1 will sell
Cheaper than Ever
before. Come one and
all and give ine a Call,
Greetings of the Season.
We cordially iuvite our former pat
fofts and the general public to visit our
st6re frequently when shopping, as we
tfave fiew goods earning in every few
weeks, thereby enabling ns to learn
your wishes aud gratify them.
We have our usual lines, which are :
Velyets, Silks, Ribbous, Flowers. Feath
er, Huts,- Caps, Infants' Head-ware,
Hosiery; Corsets, Notious, School Sup
plies. Dress Goods in FlauuelH, Mo
hair, Broadcloth. Etc.; also Linings aud
Have yofi one of those 1$j20 Framed
Picture we sil for .IDc. alferui hive
(rded 2.00 witB us ? If not you should
have jour pHrcD'aseB punched aud get
We lad fuYuili you with good val
ues In W bite Ooodtf. Bleaching, Lons
dmltf Csunott Cloth, India Linens, etc
Tom should get one of thos J prettv
btfekebi in which we sell our 2.'.c. Per.
ftiines. Tkey are fine for trinkets on
With thanks for past favors,
Kespectfuily yours, -
Mrs. A. M. Ayers.
slakes Sidneys Md Bladder mgat
all and all and
MO'0TH, N, O