.. _,_

or ' 1 ._ - P i ~- . ~ _ _

ii,\RCH28_.1e19` ' ~ _

' ' ' THE CHARLOTPETOWN GUARDIAN ' `

mica rivi:

.:-- o' 1-rv* *W »- __ r _

' ' ‘ - .Yr-._. .Q __ »...- » _ _ _ __-__ ‘ _ __

DAY LIGHT SAvlN.u_i_ultNlll>i council or rolls rrnlilsiis 'NWN BY Sli cousinntuluillluns liituvlliiuo

ii -» it lv t-=-"`"'"“‘u»-t-- »- --- is---i ii... ni l ron ill ul-nuiiluc riiicil

Be Some Confusion After Ns'iit'=W¢¢l_

1-- .

llht-_-i&-311*

_li-‘rain o\lr.°Wn correspondent.) o'r'i'AWA March 27-Dnylisht time

ln so iar as becoming a Dominion wide “mesure for the- present is us dead as lust year‘s calendar. Any city or mun. ,c|,suty` wanting it must enact by Civic by law but it was made abund- iintly clear in the House this after. noon that the farmers of the country will not continue to do milking by lantern light as they did last your to please any city men who may desire an extra hour sunlight for pleasure

only, The subject was discussed ln_

the ilouse this aftemoon and before , recess at six o'clock it was abnnd; ,mtly evident that the taking or the will would be ti formality. it was beaten from the start. .

/it the Unionist caucus lost' wosn

the Govcrntnerit introduced the quest- ion of the advisabtlity or reenacting the bill of last year as a Govern- ment measure. So mucll opposition wir, manifested before that lt was 're- solved to take no action. This after- noon, Cooper, Vancouver South, mov- ud ii resolution to test feeling of liouse to tht: effect that it was advisable to re-eaiict at. once the legislation of last l'0ll\‘~

This was seconded by Lemieux, so

the resolution was in no sense before the House as a party measure. Vig- oroils opposition came from represent :itives of farmers who claimed last ytar's bill was regarded as it war nec- i-ssiir but that no longer existed, con- ,-,-,qiieutiy there was no reason to ap- prove it now. Many of those support- ing liist ycar‘s measure opposed it this rear. ‘

Capt. ltead, P.E.lsland, amid laugh-

ttr told the llouse the :inly vote he cilst last session fpr which he was rritizeti by his constituents was tlltlt on tiny-light saving. “l\`or that reason lhzlrc clinugod my niintl.” said he. "i claim i have :l rlgllt to change my iuinti for foolish consistency is only the refuge of small minds, andlatri not ashallletl to say what l tliillk today even though it is in dirczt opposition to lrlmt ithought yesterday." Capt. llctiil contended that the argument that with Itailways operating on day- llghi time other tlml; would be n con- lutiion was no argument at nil, slated that on the trip from P.lll.l. to Ottawa thc time changed at Campbellton on the Geverninent Railways system but no iiliilcllity- or confusion resulted. The nrglmlcnt that cvory otllcr civil- ized wlilic race adopted the scheuit' therefore Canada should follow suit was also to his mind no argument. otherwise it would be as sane to say that every law oi' any sort adopted by other civilized countries sliculd also be iidoott-d in Canada. Early in the debate McCoig, East Kent. Ont., seconded b`y Mr. Ttoss. Middlesex. moved an amendment that Mr. Coopor’s resolution bg amended by substituting for words "advisable to rcenact at once" the words “ln- iitivisnble to resnact for six months from this dats" thereby rl'/ills the mcniiitre at least six” months hoist.

llr. llicCoig, supporting the amend-

int-lil, pointed out that going to work lin hour earlier was_a_'dl_stlnct hurd- sllip to farmers. particularly in Ontar- lu wlicrt- the dew on the ilfllvll “W latin than in the west and where Wvrli could not be done well ln °f1l'\Y hours; also he said it was n disad- ‘lillliilse at the other end of the dey lor inch on farms quit at 5 0'0\0°k Wlllch_ under daylight time, would bc an hour in tha day most suitable for work. in fact during the whole de- hatt-, with the exception of the tul- tlresses of the mover and seconder. "wie vanessa to daylight saving had itll the better argument.. Sp_e0¢l1f=S wort- not strong but they 0Xilt‘09S*‘»d

icouiirrsliusriiciiis . Fellilts.-waive wlcotsa sasv carriage. 'i'ele'l¥lit$ne"4il‘1-J. 4 __ - im-s.2snif

°*'“'M=ttfstltlli"ni_li'Y' _'cliffs luster. nl' ;'.‘_f_lb'eil; applqgut

out of the sails of

"Wil time" could enact it by city bye law. _

Mr. Cowans said the nrrsnsemsn-t's "ml llavllxnt time on April sim, l provided by the bye-law in Toronto which °°“ld “°'- be revealed _because ll W°“\d be impossible to get a mst' _l°l`lly as the system had been so "‘_°°‘”"*f“l last year. t:ltlzeris~wsr`c °Y‘“"Wh°lm|U8lY in favor of lt. At the same time he pronounced himself op- 0lJD0Sed to making the system 3 po. minion wide as it would involve un- “°°°“°"Y lla-fdshlbtl on farmers while “°'~ ¢°“f°l'l'lU$ on city residents any advantage they could not get for themselves by local action.

Mr Cownna attitude appeal-ed N,

bi’ A-hm Of Drllcllcillly the whole house. _

Au' interesting feature of this after.

noons debate which did not seein to

“"~\'lk'3 alll( Silcllltcrs illflainstltlle resol.

ution is that the railways of Canaan have already announced they will Oliertlle daylight time after next Sun- day- °0“S0<lueirtly farmers who have to get no early to get milk on to enr- ly trains will have to rise an lfour earlier any way irrespective of the fact that the House of Commons has not made it obligatory.

5.500fSoltliers_

'Arrive in'_1_llalilax

iiALli<`AX_ March 27.-`The White

Star liner Cedric irolii England with 3,000 returning Canadian soldiers ar- rived in port today. it is expected 'she will dock at live o'cioclt this af- ternoen.

MEETING 0F

NAVY LEAGUE

YESTERDAY

. . .. , __ Chief Justice Matliiesou

. . ._

Tells_oi l_)omiliioii Council in Victona.

A meeting oi' the Charlottetown

Branch of the Navy League of Canada was held yesterday afternoon in the Judges Chambers, Chief Justice Math- ieson, the President, presiding. Others present were Messrs J. O. Hyndmun Percy Pope, li. ll. Shaw, L. W. Wat- son. A A. Pomeroy, S. F. llodgson. G. S. Inman, C. ll. Black, l-l. M. Van; Buskirlt, A. E. Morrison, Dr. McMillan and representatives of thc Patriot and Guardian.

Alter the secretary -Mr. J. 0. Hynfl

man had read the _minutes of the pre- vious meeting Chief Justice Mathicson gave an interesting account of the proceedings oi’ the mccfing of ,tile Dominion Council of the League held In Victoria. B. C. in February at which he was present onpbehalfol Prince Edward island. Tho conference hr said was roprosentlvn of every pro vinco and extended ovcr n period oi four days, meetings lasting from 0 a in to 6 p m and special sessions held at night. lic referred among other things to the appropriation of $25,000 rc served for P. E. Island for n Sailors institute, after proper plans and tie tails are submitted and approved by the Dominion Council.

Various grants were made to

the dependents of those who had lost their lives ln the Merchant. Mar- ine by reason of the war. There had only been one claim from P. E. island. The grant in each case will be s specific sign inontllly dating from the time of the person's death. ‘_

The matter of how best to utilize

the $25,000 grant to this Province was discussed _ at ` some length and the general opinion was that it should be used along theeducativeiina pertaining to B”m.§|§_|'2__ though just in what

tllta'l'dia§`_ A_ " of auch nntsrrimgo.

‘ ‘ 3113 ; il 1 -

Wallrreol- A _ ‘rd vl/6_ it on in-si. Aunty to Harry Eatery. Union “°°d- ' - i"t:cls-zsiuslvd

To near el\tt`$Yt;t-""Qi_1_=i.Vi.'>'o`it°"carlos.

ltsit street. Apply .r.' r. .\rsi-nsolt 'U 6. J, ,Mt9C§f\§g¢, ltevero -liotel. “lr -lr._ Charlottetown. ,

_ _ 473t3~3-2llni3ilI\|-

'lanasing in lv eine.-sxraa

tllsiity ollU§\l;‘l‘»Nt°n pencils ran., _ *lv tlsiitwrraw'-verb in ~”"' "°"‘ "" °"‘*“7

ull. smtp, ft. till ii.. ... its anis." - tin-8-icuii.

v|m§m' uot`,§ecidoii upon. _

The following were on motion up pointed a committee to look intonnil |-epor't'on the matter: Messrs J. O. Hyndman. A. A. Pomeroy. Dr. Mc- Millan, 1.. W. Watson. Percy l’UDe.

.\i~'.\'0U_ni,onMaNTS.

C()`i\IING EVENTSQ

MEETINGS. l0'l‘(‘

...__-

npgljsr Brodie has been ,instructed

to sell for 'R. I1

rlgmsu -time _.__ "&f:,"w',,,,_ taste-mips.

, March 29th his stock, cropnnll l *_ I _ _

My " " " storliiy folleillrf 's'uppor~inll‘-to Bev. Mr. Stoddart for

ference 0litlined.

lg-LONDON, ivlsi-en 21.-'rne Paris '°0\’l`°!P0nde11t of the Pall Mall Gazette _says on high authority that, in order to avoid perils which would inevitably arise if preliminary peace terms are not drafted until such time as the various commissions shall have finish- ed their labors and have presented their respective reports, thq represen- tatives of tho greet - powers have drawn up certain propel-i:.lls which seem ample to constitute the basis of the first treaty or on-r analogous to that signed at Versailles ln 1871,"

The correspondent adds that these

__,,__.,__...-_---_-_-_

B (Special to the Guardian.)

proposals are under the consideration of tha inner council of four Premiers, Lloyd-George, Clemenceau, ond Orlando, and President Wilson which has temperorily superseded the coun- cil of ten and that this arrangement will greatly expedite decisions.

"A final settlement will not be

nimeti nt," continues this correspond- ent. "But the terms will be sufficient- ly ilrin, drastic and definite to pro- vide for an enduring peace. justify in large measure eerly demoblization, simplify the gmvo interuat.ional food problem and pave tlio wny for speedy

i;‘;;,§§§°;h;;;g--3;- 1; 3;.; .»....i..__Tlie Term_s Will Justiiy in Large llieaslite Early Demebiliiation, Silliilllfll tile inter- ~°°t-ns- -»--ti--1-3 is-it ti.; 2153 national Food Problem' and Pave the Way for- Speetlyiliitlusttial Rectlnftruction

...ini ii... ...ry 3'? 3.1? 'l5..§?.‘I.` and Financial Reorganization. Some of the Principal Aims of the Con-

industrial reconstruction and financial reorganization." ` The Dl'|HClDal aims of the proposals

lnow before-the inner council arez- | (1) To insure ample security for the furtller protection ot' Franco especially on her eastern frontier.

(2) To establish a strong Italy with

a formidable northern barrier against aggression.

(3) 'l`o create e strong Poland. (4) To found it league- of nations

pledgeiil on material as Well as moral grounds, ie tilt* prcscrviltinll of world .peace

Scotia En Route ` ‘

To St. lohii,Wi,th_

0ver l,-600-'Troops

LONDON, March 27.-The Scotlan

has sailed from Liverpool for St. John with 13 nurses, 54 officers, 40 cadets 'and 1,619 men from lilninel Camp bound for all areas. Upwards of 100,000 Canadian soldiers have now left the British isles for home since the armistice. The third division is now entirely clear and the major portion of the- First Division is here. Only 50,000 Canadians now remain in I-`rance. Since March lst. 15,000 Can-' adialls hav(-_ cleared i'rom Killmel Camp.

Chiei”§ceut

Comiilg__t Canada

NEW YORK, March 27.-Sir liob-

bert and Lady Baden Powell expect to spend about ten days in Canada. At present the United States is lay- ing out lavish entertainments in their honor. Mrs. Choate, tho clever daughter-in-law of the ‘gre-at Joseph Choate, being largely instrumental lu thc plans. Lady Baden-Powell is one ol' the energetic English women who never tires of learning new things and is now becoming an expert on the typewriter.

Candidates For

Fourth Prince

At the Liberal-Conservative convent-

ion held at Bedeque yesterday to nominate candidates for the fourth district of Prince County Messrs 'John Myres of Hamptonand John Warren of Kenslngtonwere the unanimous ‘choice of the. large meeting.

M11. ‘Ay W. !F).1-row. presided A

splendid atklress, .was delivered by Premier Arsenault who dealt with the governmenfe record. Other speak- ers! were Messrs James l‘enderB8_st. and James W. Stewart, of Kensing- ton, Mr. Thos. Gillispie and Mr. D. B. McDonald of North fiodcquo.

kllfotlicrliood Banquet

in the lieartz Memorial llnll last

evening a "Brotherhood of the Church" Banquet was held wlilcli was attended by 150 male members of the Method- ist Congregation. _

After the splendid repast prepared

by the Ladies Aid was disposed of Mr. Artllur Bruce and Mrs. Lawson sang solos which were greatly enjoyed. ' The chairman. Rev. Mr. Fulton. o‘utlineii_ the purpose of the meeting- viz., to form a brotherhood of the Church which would include all the iuen of the congregation. lie stated that thi; was the time of reconstruct- ion--and a..-time which will give ample scope for the exercise of every man's energies for the work of‘the church.

se mnstoniasis .t_t»1_?rs..»ibctioa.ot etlif-trs_~I°r_t~l1r.l.1rs?tltt=.f

seen ssslitst--elle senescen- z ltereys Tumor, Vlce-T"Eesld`cdt/`\-*-Wtlltod- Bourke. Secretary-Treasurer-G. ll.

lioibroolt. Rev. Mr. Stoddart of St. Stephen, NB. then addressed the meet ing on the subject of foreign missions. lt was o masterly presentation oi the necessity for aiding the BDYBU 0' the Gospel in foreign lands. lie stated _ that two onto: every two i‘»_°9l>l° ill the world today itnew not Christ.

A discussion re mission work follow-

ed and other matters periiiinlns to the clinrqh- ~ _ ' _,Before closing votes of thanks WGN tendered tits ladies for the splendid

his excellent address, >

~ _ i

U. S. Sells Surplus _ Munitions

(Special to this Guardian;

WASHINGTON, March 27.-Sales t.-

foreign governments oi more than two hundred million dollars worth oi`

supplies were announced by the war department today. Ptirt of this material went to France, whose pur- chase included smokelc-_-is powder, acids, copper. cannon and steel plates for which $155 million was paid. italy bought $41,000,000 worth of maclline gulls and llltinlunltion, iicitls anti other supplies. The Netlifwliillilu bought $685,000 worth of nitrate. About ii nlillion tiollurs worth of nci'ol>lnnt~.= and supplies $460,000 wortli of soldi- t`ar's personal crluipnients, $294,000 worth luaclline guns and $171,000 worth of hand -grenntles went tu Czeciio-Slovizl.

Huugariiln_ Govt. '

Release Traitors

(Special to the Guardian) .

PARIS, March fl7.-Ono of the first

acts of the new Hungarian Govern- ment was t_o release the Russian Red Cross delegation that had been im- prisoned in Budapest because it had -been circulating 'Bolshevik pro- paganda matter.

Labelling Aliens

(Special to the Guartllanl

TORONTO, March 27.--Since the

Alien enemy investigation board start- ed procedlngs in Jany. 1,200 Aliens have been granted loyalty cards and soo refused them. J. Mnrsiiiioio, secretary, arrested today. The 300 have been classed as "undesirable citizens." Government employment agencies have been instructed to pre vent them from securing jobs Mr, Marshfield said.

Adriatic Blockade(

ll-as Been Raised

.___»

' PARIS, March 27.-The Italian tl'!

,iegetion to tho l'i-ac(-_ Conference to-

lrlay notified the conference of tht ‘suppression of tlio-militttry and com- merce blockade in the Adrzitic by which trading iii the Adriatic returns. to condltioull bcforg the war cxt-opt that until peace is declared Allied war- shlps will have thi- right to t-leiirch merclranimen. `

____.._____.__._,___.._

Nu interference

(Special to the Guardian.)

‘LONlDON, March 27.--Replying to Brigadier General Croft in the l-louse of Commons today Rt. lion. l\i'i¢\,\`9“'

will .be entered into at \’8l'ls W\1l?ll \vould.~int_erfere_ with .tile full central ofltlii, United Kingdom 9_l;,f,il9, D9_nl,_ iliidiis over-their own customs duties

The' Vanity oi' Flags

(Special to the Guarlien) LBERLIN. March 27.-independent Socialists in Bavaria had demanded that -tire govomment melt all statues of former royalities and statesman lu- cliiditig that of Blsmnrk. Materials of

Re 0wn Customs

Anil--_llltltllorials

Dominion Troops To

Make Ceremonial

Parade in London

(Special to the Guardian.)

LONDON. March 27.-it is under

‘stood that Lord -Milner, British Secre-

i tary of War, is giving his personal nt- tentlon to the question of the ceremnll- itll parade through London by the Domi- nion troops before their departure for

gliomc. Many llowspapers hero art; -constantly expressing regret that the overseas soldiers are being allowed to,

iicpttrt przictlcnlly \\'ltliollt_ 1. send oiiii

._......._.,_____- ..._-.

Oilicers oi Old 105th Back Home l

From tlverseasu

I After four and it half years of act- `ivs service Captain Elliott Full, who left hero as ndjutant with the original . 105th Battalion, and Lieut. B. Preston- -Nicfraine, who left. nt the same time ns Machine Gun Officer arrived nt , their homes in this city last. night.

Both are in excellent health and

ls-pinits.--and needless to say are glad l lo be back once more on native soil. l Both thoselofflcors were in the 10»it’l lnfter the amalgamation and held the lsllmn ranks as in the 105th.

Captain Full in February, i018, wl-

!verted to the rank of Lieutenant olri proceeded to France with one hundrwl

"~'- 1f"li'-l Pi'-neer ljattalios

The Pioneer Battslions were later absorbed by the new battalions oi engineers and Lieut. Full, with about fifty other Islanders went to engineer battalions of the Third Division, rit- tnitiulng with the unit until its ur- rivai in -Canada -for detnoblllzation.

it was in August last. that he was

prompted to Captain. lic saw some oi the decisive fighting in the last stages of the war notably the battles of Amiens. Cfinlbrai. and Mons. i Capt. l-‘ull speaks in the liiglicst lternls of the work ol' the men ul' "tho old 105th.

lileut. Preston Mchnlno after leav-

ing the i04th joined tho 3rd Canadian hiachin Gun Battalion and was also in some of tlir hottest work in tilt* last pilrt of the war. .Doill oi‘ficet's will bo warmly wel- comed by their mitny friends.

Tliqy arrived iii Canada by thi"-

. Oiympli-_

l’to. l.i.~ou:\rd Gay, of Suniinorsiilf-.

who li-.ft hers- as Sergeant. with the 105th Draft which loft Charlottetown lin May, 1917, was nrnohg llit-_ inch 'who returned homo on \l'etinosdiiy nlgllt. llc arrived at Halifax on thi.- S. S. Royal George. After spending a few months in training in Eiiglanii he

li'ovt~.rti\ti to tim, ranks wi his own ro- .qlicst in order to proceed to Franco, transferring to tht- 26th Battalion. lie saw nine molitlls service in Fi's.uci-

l Bonar Law said that no agreementlzind was wounded in the shoulder by I

s machine-gun bullet at the battle of Amiens in A_\i_gui-it, lilifl. llc was sent

- back io' l~;figiti`ri¢i'”iiliitl wills in' the

hosliiial .for, mil-tc u .while .on _this _oc- troulii and iilsu ily reitstni of an itttzlck of dlpthorln from wlildi he fortunate- ly recovered alter several weeks. l’te, Gay was ri witness to the last “battle of Kinniel l’l\rlt." and describes it us quite an exciting episode whilr- it lasted. 'l‘lle camp to which Pte. Gay was. attached was one of the camps which held out against the rioterii. 'l‘ht-_ inch, who loft England by the Royal George were accorded a splendid parting reception by the -American Bed. ,Oroas at Liverpool;

Alimgllt

MF- P°l`¢l’ P°PeA delivered _a very

valuablg address on “Our Standard of Values" before the Rotary Clllljon Thursday. After a few_oxpi_i.lu1ttory i“"°dU°\°¥'Y remarks, Mr. Pope saidf We are ali prepared to accept the

statement that knowledge is power. lf, however, we substituted the word understanding, for that of knowledge,` the truth embodied in the' saying would come out much more clearly. There is s. form of knowledge, which, instead of endowlng its posseseor with power, in so far as 'he prides 111111591! On its possession, will work his undoing. Look around and you will seg this exemplified on every aide of you. We are today deluged with ideas, through speeches, newspapers, magazines and books, by individuals whose chief nlin li. is to make tl fav- orable impression as a speaker or writer. instead of striving to clear man's vision. As a result, we ure ov- erwhelmed, tlazed and almost persu- aded to turn away from brilliant speakers and writers and to look for guidance to men whom we credit with

possessing common sense. something which though it may not be so bril- liantly garbeci, we can depend upon and trust. What is this common, sense? is it not that faculty which enables us to attain to ri comprehen-

sive understanding of .the stlbject, though our conclusions may be maln- ly unreasoned and intuitive- Their merit. consists almost solely in ilic fact that they embody a grasp of fun- damentals rather than a more super- ileinl knowledge of tl'elail. it is not even sllillciont that tl slibject bi: pre- sented in logical sequences or that tha eloquence of the speaker or writ- er impresses you, the case must be -placed lucidly before you in all its es- sential connections and the conclu- sions reached must be such as when brought before the bar of common sense iinil intuitive judgment, can stand with heads erect.

This Standard of Comiuon Sense is

possibly one of the most important measures wo have. it would well de- serve our sole attention, yet. I mere- ly refer to it _to induce you to apply it to every conclusion presented for your acceptance and particularly to any that may be offered to you today.

This by way of digression. I now

attack my main subject, and will noir you to consider exclusively one stand- ard only, but one that we use, or per- chance misuse, more than any other, for we do not always carry wlth.iis n sense of its limitations, I refer to the Almighty Dollar.

ltis not always-easy to use even a

good measure accurately, and this dollar measure is in some important. respects a most faulty one.

The Gold Dollar consists' of 25.8

grains of fine gold-we never see a gold dollar-they are not now coined. We very seldom make useof sold coins of any denomination, yet there is very little today which we do not measure in terms of it.

ln connection with such use, two

very serious misconceptions have arisen:

First, we are tempted to think of

gold as the most desirable of all .forms of wealth: and

Second, we cherish the idea that

its value remains constant

Neither of-these ideas is trut-_ Apart from its use in the arts. gold

is little used. it does iiot'_`dlrt-Vctly minister to our essential needs in thc matter of food, clothing or shelter. if tomorrow li were discovered lu un- limited quantities, it would fall in value much below that of coal or iron. -.Even in the form .of coin, or gold de- mand notes, it is not necessarily tile best form of wealth. if tl man toll

|yt°iirs agirpui $1.000 in gold in his

siifc and held it until today--not tak- ing into account thc loss of interest the gold has decreased in value 50 per cent.--for its purchasing power,

‘which truly measures ii value, has

fallen to that extent. You need no nslieries, as made availablli' , argument to realist- ilio tact or this labor. its houses, r`silvr,s¢s,,,__ - _l' ' |055- Slmlllb’ ll-lllwlll 10 your own ex- ways. docks, machinery and Yhllv lm.. __

perlence and common sense.

Now, in connection with this actual

'lon years ago as security for n loan

of $i,000. how would it he effected by

urti? li llc is paid off today, he will

of those facts and how such condi

to get 'some ideas upon the subject.

win ir cons roiivils T

, -_.’ _- 9

we-‘v

-*¢.“¢£

Mr. Percy Pope Gives, illuminating- Addrem ' Measures oi Espetimy's§'1'if"§ff¢‘§g§;j'qi`f;j~

rllollair -» 1

that its *veins mnlit"ilii`ct' ""l‘_""'a¢`!`¥.

cordance with t'be"laYl delinand. For many years ttf i' ed very nearly constant sg- _F g it rims been sorf6u|_iy‘~¢'g%;-ag.-_§§;:~~ You ask; is notrgol_d~ in mend than ever; and should’ it alot i>0asess` -a higher valubi' if the laws" .ef surely ans aemssu were-guests-is ' play such would be- the-¢,`”_t.y,¢l. while the supp'ly~remaius the `nme;' the demand is artlfiela-lly‘restHet5d.--- By common consent, itfis doofdodtshaltt we will not ask for gold gsy¢\h¢”

strict regulation. - HSN it wt-ally nodtsol ef into some into play. sun me l.»i»i¢m.s.. wmes 60 complex that.i.he_-average man is not able to Wino df. _-

Long ago. it was._fou.ad th¢t,._t|;q

HUPPIY OL tlbld would: lf wo were solo- lY dependent uponit for oxnluuaggu, he Wllolly-ilwide<illa.te»..1t woaldf.-ner. todny enable us to conduct at hapdggd tbousandth part of them. To meet the difficulty, ws main. m,q__ln.“¢u, thereof, of gold demand creditinqggg -legal tender and -bank‘~aotq»-~t\i¢h these sturdy fellows to pi-op_.l¢ gp, “jd stands pretty firm~uid today jg, gg securely kept out of sight ¢lm¢,g¢_“'§ ,only its aubsl.itl.ltBe___Which are ,doing its work. These credit notes tensibly issued against gold. This is a polite fiction. They,-in reality, pg based upon commoditlea_.- sl, pl-ig. ent, they are not even redeemable in gold, but in business we rate them ns such and unconsciously behave Be if

tho two were identical.

When, therefore we speak of an

.ibuntlitnce or of a laclt uf money. it is necessary to realize that we do get refer to our stock of Sold, but more-_ ly to our currency. and it is needful to note that credit obligations _ other than legal tender or bank notes often take tho place of currency and in

;urn tio its work.

Now let us suppose that abnormal

conditions set in.‘ i.abor,,wbicb we can rate its a' commodity, becomes scarce. Food products are in short supply. Transport is _seriously rol- ltricted. Whitt. must hspiy_o;i'l_ Gagn-

moilitles ll61DE _er than money. they s` -. -.r price-#that is the purchasing pow- er of the gold dollar sinks and all who possess gold credit obl-ltlillens bu!-

fer a corresponding loss.

Now, coincident W1l.]l._i-be YIM 0!

prices, opportunities occur of making money, hence t.h`er5__is_a general Wu-_ dency towards speculation, and tion and up to a cel-t`a1.ix_`po,il',lt_ apparent prosperity. (You tdx

can appreciate t_hi_s.)_ _ _

Here it is necessary to bear in mind

that credit notes are not wealth, pd ins tact inet the nsnss are 'alien with them is not evidence th_.ai.__t.li_e, _wealth of the country bas correspondingly increased.” 'lt is evidengqplv-as decid- ed disturbsnce of the r\t`l9__ which formerly existed between ,motley and commodities, but from this-ivorfflct, it is safe to assume the law of supply and deman`d.l§as_9d;upoQ si cost or production and sorii\»l_-cost' ` of transport, will assert itself. Prices will begin to lower. short be-‘ comes _the rule. Produtltlcll- overstociilng ocmin.botns1.vi|ud the purchasing power of-tb-e.tioTlir¢ increased lf tl1ia»proe0a¢n~pthon`~

_ undue inonieatinn.~.the pendulum may swing farther baclr than lt- wont ` ttliead_ in which_caae the mam with money will find himself made uk- respondlngly richer.. tbongisghisl fn.- vestmentii measui°6d.'-l>Y- d0UlHo_.mlf

be Stated at Blneuy £110 llllh llwlht. ‘ Do you catch a gilm;|e,yf.»wha§_tjg. involved in this-fluctuaflpllinll tht value of our Standard -_D_qllqr\_, 4, ._ _ if so try to realize .thot the 1% of it country is not safely_.meosurs_l_`tie by the deposits in the banks or the

source of wealth and qae,irnl;i,__

_ tends to make labor effective. includ-

illis vilnngo ill the valuc of thc Stand- ness is'~blll§d -upon' tlioh

actual wealth which we have just ea

get $1,000 in legal tender. but in so- umerated. ' __ , . tunl purchasing value* only $500. Those There is another fact in this con- §";§?‘ . who are made wise by experience noctlon which must not be _0'il!rl60\'» ` "

ft’-llllle this. but the full significance ed. and that is che need of not using

- ` up all we.pr0duoe, We have ¢

tions are brought. abaut_.itrs not 'vory certain `ll'mo`t\A`nt`of Fuld _c|.pitbl'Wered widely' unrlerstood. Let ns endeavor up- to- keep.tire'macll.iafry of gg. _,__ i __

_ - | »»_' -__ _ri as a

the. “miss h kv hm M ‘wen change going, otherw se_ .wo mast -, ; t°__n:°“w,y ‘,,,°,fe‘_:a,,;'m, mm me which serves to strengthen the seed 're nsgni wits, it must no iioteiitiini toon nn- iiirtmnsss -_-t

' .feelings existing between the Can- gold is not only it standard of value. .¢,. _

volume of exchanges.. Then-¢,_i,p,:dp_,

that is production. Slim upfigi ‘

*mu ‘

cultural, mineral resources antfw `

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` _ ing.intelligpaco, lt.iy__st£cks of com- .

full in the value of thi- dollar. Note miidltlcs and 'yuh' liaV!"a coun\.ry's lr what effect. ,sugln.i`all_.- has ,upon ,thq,, wpltwoiylélu » Ii VI P9-» value of invested ,sccurli,i'es,_ based hanlt`;_notes,_. etx.'|'i__|te., ‘ upon gold. if ii man took a mortgage mu.-t hot be taken in account so of '

'any value saQ'f lnzffscplgqti ' ex- ' pr- '_ .change for_-,tins only -v§iu"¢'_ J

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I depends t demand, shall M’ con' ' ~ ~ _ _,_ _ con" ln; ham" mr chndwm adinns and the Ssmmies. ibut is also a commodity and. as mob. (Continued on page eigllgi..-l 'ii i7._<"_-3,,

5 . , ._ _ .YH ,lv

_t_. ,s.=.-_ Usfnmstsenihf. - -