Newspapers / The Clay County News … / Dec. 9, 1927, edition 1 / Page 3
Part of The Clay County News (Hayesville, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
Billions of Dollars’ Worth Secretly Hoarded or Used f°r Ornaments. Washington.—Five billion dollars’ worth of gold .and silver treasure Is sequestered In India In temple decora tions, Jeweled ornaments and bars of bullion, together with the bangles, anklets, necklaces and American “eagles,” with which millions of wom en array themselves, according to a new study of the legendary “wealth of the Indies” submitted to the United States Department of Commerce. * “Frozen wealth,” the government economists call this treasure, for It Is distributed and used In such forms that It yields not a penny of return to Its owners nor a dollar of credit to carry on the world's commerce. With a lofty Indifference to Interna tional money markets and the needs of trade, India sprinkles gold dust over the food served at extravagant banquets. Immense quantities of gold and sliver are used to array brides for their marriage ceremonies, nnd In a multitude of other forms of decora tion. Gold Is believed, moreover, to have an occult power of healing the sick. “It Is a popular remedy In the native pharmacopoeia,” says the government study, “and medicines containing-gold are favored for many diseases.” The World's Gold 8upply. All this has more than a picturesque Interest It Involves the problem of altering the distribution of the world’s gold supply—a problem that took on new importance when executives of the British, French and German Cen tral banks and the American Federal Reserve system recently foregathered In New York and Washington, and with the adjustment of Federal Re serve rediscount rates below the Eu ropean level. As the world recovered from the financial chaos of the war most na tions have struggled back to, or to ward, a gold standard for their cur rencies. To establish and maintain such standards they must have gold reserves. The currents of Interna tional trade and other Influences have brought to America’s coffers about half of the world's monetary stock of gold. But In the last quarter of a century India has been quietly absorb ing immense quantities of the yellow metal, v With a store now estimated at about $2,500,000,000, she draws to herself a large part of the new gold produced from year to year. Meanwhile, the world’s gold produc tion has declined sharply from the maximum for this cgptury. reached between 1910 and’ IMS. Although there has been a; recovery In -fa#t since 1922, this Increase has hqen viti ated. so far as monetary-gold 'for the world Is concerned, by the Increase of Indian absorption. *"■ Great Wealth Unuaad. )/• India's gold la idle. There Is lack ing even a pretense of making It add anything 'to the productive forces or the comfort of India's 800,000.000 peo ple or their fellow-beings in other lands. The exhaustive report submitted to Washington was prepared by Don C. Bliss, Jr, assistant trade commission er at Bombay, under the prosaic title, "The Bombay BuUlon Market” Mr. Bliss says on this point: . “Vast reserves have been aecumu Propoted Remedies. In an attempt to halt or at least retard this accumulation, far-reaching changes are projected in the' Indian financial system. Adoption of a gold bullion basis for India’s currency; re placement of silver rupees In circula tion by gold notes; establishment of a strong central bank; and extension of savings bank facilities are now pro posed. All are designed largely to wean the Indian population away from the habit of boarding gold and silver pieces and bullion bars. If that la ever accomplished, India’s five billions and more of gold and silver In time will cease to be merely so much "frozen wealth.” What disturbs bankers and econo mists Is not the size of India’s store of gold, great as It Is, so much as the way It Is treated. The United States has more gold, our holdings being ap proximately $4,600,000,000. But this Is ■ working in gn effective way. It serves as the foundation fbr the vast superstructure of credit employed at home and lately extended, with un precedented swiftness, to the rest of the world. the; would suffice to make India one of the powerful nations of the world. “The traditional ‘wealth of the In dies’ ts there, but In such a form that It yields nothing to Its possessors In the way of Improved standards of liv ing or the power to command the serv ices of others." Why Gold Is Hoarded. The wealth Is scattered among mil lions of unorganized holders, and even the silver coins which constitute the metallic currency are snatched Into private hoards by the ryots or peas ant farmers. This problem of hoard ing, Bliss’ report chows, Is at the root of the pathetic plight of millions of tljese farmers. Hereditary custom, so cial organization. Seasonal harvests and the still primitive financial sys tem all Influence them to assemble any wealth they have In a readily portable form and often to hide It. In old days of tyranny and oppres sion, manifest prosperity was an In vitation to bp stripped of one’s pos sessions. Hostile Invasions also forced great southward migrations of people who, to save their wealth, had1 to col lect it In. a highly concentrated form. These conditions have left their influ ence to. this very day. ' , - - Other Causes of Saving. The Hindu family, moreover, ordi narily holds all real property and household goods in: common. The in dividual wishing to save for his own use can segregate his savings only In the form of gold and silver. Millions of the native population, too, have an access to banks. In time of stress they must draw on accumulated reserves of resort to the money lender—at 75 per cent interest. “Consequently,” Mr. Bliss writes, "there is a strong tendency in times of prosperity to purchase small quan tities of silver and gold ih the form of coins, bullion or ornaments as a re serve against want “Millions of people, particularly In south India and east India, never have a sufficient margin to do even this, as they have no savings what ever; this is evidenced by the neces sity for famine relief measures In many sections as soon as there Is a crop failure.” Filipino and Greek Learn to Teach Deaf Northampton, Mass.—From the op posite ends of the earth there have come to the Clarke School for the Deaf two young women sent by their respective governments .to learn how to teach deaf children of their native lands. Cprysoula Kyriakjdes cpmes .from Athens, Greece, When she .returns she will open ’the fhgtt government School, for the deaf ip that-ancient city. ■' From Bagplp,. .PhUipjjlne , Islands, „ comes Frances McCann, a' personal appointee of the late Maj. Gen. Leon ar Wood, governor-general of the Philippines. She will .return to teach - ! One Firm to Build 1^200 Flying Machines N*jW York.—One airplane man ofacturer will build 1.200 Hylnfe muchin~s next year, which Is .more than the entlr aircraft industry produced In 1926, ac cording to William P. Mac Cracten, Jr., assistant secretary of commerce for aeronautics, who spoke at a dinner given here for Sir Philip A. G. D. Sas soon, under-secrctary for air of Great Britain. Rapid progress in aviation, due to the great Increase In private ownership of airplanes, was indicated by Mr. MacCrack en and by Grover Loenlng, de signer of amphibian aircraft, who made a plea for the appli cation of the methods of volume production to the building of airplanes. Sir Philip will prob ably be the first man to possess one of the new Ford automo biles, he revealed at the dinner. deaf children in the government school at Manila. In selecting the instruction - of the deaf as their profession these two and the ten other women in the class are following in the footsteps of Mrs. 'Calvin Coolidge. As Grace Goodhue the President’s wife trained at the Clarke school and subseiuently taught there for two years. While teaching she taet Calvin Coolidge, who roomed at the home of the school steward. . One-thlrdf of the teachers of the deaf in this country obtained their training at the Clarke school, the first in the United States to .each the deaf lip-reading and speaking. Nearly 300 young men and women graduates are now tenching in schools for the deaf in 31 states and nine foreign countries. German Heads Nude Cult on Mountain Nice, France.—The recent killing of Mrs. Marcelle Lord, the French wife of Horace W. Lord of Full River, Mass., by a former officer of the Rus sian Imperial guurd, Capt. Wenceslas de Krupfell, and her friendship with followers of, various Riviera cults, have led to startling disclosures. Doctor Goldberg, a German, Invited a group of reporters to visit his “Zara thostra colony,” the largest on the Riviera. The colony is on top of a high, almost inaccessible peak, which requires two hours to climb. Reporters climbed the cliffs, and on the other side found members of the cult naked, sunning themselves. At a warning, children dashed in all direc tions, telling the women working in the gardens to clothe themselves. In the colony the ratio is two wom en and four children to one man, the total numbering 60. Doctor Goldberg, <pho is known throughout Europe for his anarchistic views, and who has served prison terms in Italy, England and.Germany, said: “We bave no money, no property, nothing individually, everything be longs to the community. We have no marriages and the children no names except sons and daughters of the Zarathost.ua colony.” Buys the Biggest Lump of Coal Jdiss Betty »•**■«» THIS IS ALWAYS GOOD “You must find that impediment in your speecli rather inconvenient at times, Mr. Biggs." “Oh, n-no, everybody has his pecu liarity. Stammering is m-m-mine. What is yours}” “Well, really, I am not aware that •I have any." “Do-do you stir your tea with your right hand?” “Why, yes, of course.” “W-well, that is your p-peculiarity; most p-peeople use a t-tea spoon.” A Finished Fish - Particular Customer — This fish, yo'ung woman— Waitress (promptly)—Was killed this morning. ’ Particular Customer (approvingly)— You did right to kill it. Waitress (inquiringly)—Yes, sir? Particular Customer (firmly)—Be cause, from the time it lias been ashore, It might have forgotten how to swim, and would have drowned If ever it went to sea again. WONDERFUL VISTA He—There's a wonderful vista here. She—If you'd pay more attention to the view and less to the vistas and other dames, you’d be better off. Sell Hia Junk There never was a product made. This truth you must confess. But what some "bird" can make It worse, And sell his “junk” tor “less.” No Rest A man. whose whole life had been spent in active business passed- to the spirit world. On arriving there he thought, “Now for some .rest and perfect peuee.” After quite a short time a - spirit tupped him. on the shoulder and said, “Excuse me, sir; you are wanted od the ouija board.” SHOT OFF HER FACE 111 n \ Bess—Oh, mother, Auntie must have killed herself last night. Mother—That can’t be I *What do yon mean? Bess—I tieard daddy say he met Aunt Bee last night and the first thing she did was to shoot off her face. Hard to Rhyme ' We who would Write a snappy ode A pitcher'B pralae to sing Find Plpgras an outrageous word To rhyme with anything. All Broken Out Sometimes the unintentional jokes are the funniest. There was little Barbara Stern for instance. Who, when the doctor said he’d cure her of measles in a week, replied: "Now, doctor, don’t m^ike me any rash promises!’’ Not d Competent Judge “No man with any sense would al low yon to cany on the way you do." “How do you know _what a nan 24 Hours Ends COLDS A“common cold'* may result in grippe store and get a^box of^ilLL’S. Take promptly. HILL’S'breaks up a cold in 24 hours because it does the four vital things at once—stops the cold, checks the fever, opens the bowels and tones the system. Red box, 30 cents. HILL’S Cascara - Bromide - Quinine WORLD’S GREATEST* ^ m PliS J Vpostpaid>5 DELONEYErCC ^3909 PRAIRIE AVENUE* CHICAGO^ Hamlets, partly ntcUlilt, Infants* sad Children's Regulator, fdrmala oa every label j Guaranteed con-narcotic, non-alcoholic. iw.wmy)r$ svrup The Infants’ and Children’s Regalatar Children crow healthy end freo from colic, diarrhoea, flatulency, I constipation and other trouble If f given it at teething: time. Safe, pleasant—always brings re markable andffrmtifyinjrresults. | At All Druggist* / Dr. Pecry’a Vermifusre *‘Dead Shot'* kills and expels worms in a very few hours. One dose suffices. It works quickly and surely. All Druffffists. 60c. /3\DKPe«|Ys £ Deac/ShofforWORMS^ v-»v vermifuge At druggSu or 8TI Pearl Street. Kew York City | Still Seek for Cold in the Black Hills By searching for gold in her leisure hours many a farm wife in the Black hills of South Dakota adds to the pin money yielded by poultry flocks and gardens. Every farm in the hills has its roar ing mountain stream, the sands of which contain gold dust for those patient enougli to seek it. Using the same primitive methods of placer min ing employed by seekers of wealth in the early days, several farm women diligent at their tasks pan $4 or $5 worth of dust a week. Occasionally a nugget is found worth several dol lars. Prospecting days are oyer in the hills, but every bank vault in the vicinity has its little bottle into which are poured the gold dust gleanings of country women. Natives Take Chances The only people who will1 brave the dangers of the East Indian jungles to gather the jelutong used in chewing gum making are primitive natives of Borneo. Drugs Excite the Kidneys, Drink Water Take Salts at First 8lgn of Bladder Irritation or Backache The American men and women must guard constantly against kidney trouble because we often eat too much rich food. Our blood is filled with acids which the kidneys strive to filter out; they weaken from over work, become sluggish, the elimina tive tissues clog and the result is kid ney trouble, bladder weakness ami a general decline in health. When your kidneys feel like lumps of lead; your back hurts or the urine Is cloudy, full of sediment, or you are obliged to seek relief two or three times during the night; if you suffer with sick headache, or dizzy, nervous spells, acid stomach, or if you have rheumatism when the weather is bad, begin drinking lots of good soft water and get from your pharmacist about four ounces of Jad Salts. Take a tablespoonful In a glass of water be fore breakfast for a few days and your kidneys may then act fine. This famous salts is made from the acid of grapes and lemon juice, com bined with lithla, and has been used for years to help flush and stimulate dogged kidneys, to neutralize the adds in the system so they no longer are a source of irritation, thus often relieving bladder disorders. Jad Salta is inexpensive, cannot in jure, makes a delightful effervescent
The Clay County News (Hayesville, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 9, 1927, edition 1
3
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75