The Daily Express. (San Antonio, Tex.), Vol. 42, No. 308, Ed. 1 Monday, November 4, 1907 Page: 4 of 10
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THE SAN ANTONIO DAILY EXPRESS: MONDAY MORNING, NOVEMBER 4, 1007.
Entered at the Postoffle* at flan Anton'.o,
Texas, a* Stoond-Clans Matter.
By Ths Express Publishing Company.
Mdltorlal Room, Both 12}
business Office, Both J"
Soolety Editor, Old -1'1
8PECIAL AGENTS AND CORRESPOND-
New York Office: Room C28, ISO Nassau
Street—John P. smart, Manager.
Washington, D. C.—Otto Praeger, Room
S, Kimball Building.
Auatln, Tex.—Glenn Prlcer.
C. V. Holland, General Traveling Agent.
August F. Seay, Traveling Agent.
Dally, olty, carrier. 1 month J -JJ
Dally, mall, 1 month •'»
Dally, mall, S monthg
Dally, mall, 6 months J-J™
Dally, mall, I year S-®'
Sunday edition, 1 year 2.®0
Semi-Weekly, 1 year 1-'®
Terms' Strictly In Advance.
The postage rate* for mailing The Ex-
freaa are as follows: 8 to 14 pages lc;
I to 82 pages. 2c; 34 to (0 pages, 3c-
POPUL.ATION OF TEXAS CITIES.
The population of the seven largest
• cities of Texae on June 30, 1906, aa esti-
mated by the United States Census Bu-
reau, Is as follows;
•an Antonio 62,711
Port Worth 27,096
Ibe Approaching Fair.
The ninth annual exhibit and race
meeting of the San Antonio Interna-
tional Fair Association will begin Sat-
urday, and it is said by thoBf' who are
in a position to know that the pros-
pects for an Attractive show and a
large attendance of visitors whp never
before so good as now.
Preparations for the great exposi-
tion are said to be further advanced
at this time than ever before a week
in advance of the opening, and the
managers and directors confidently
expect all exhibits and special attrac-
tions to be in place by next Friday
evening, so that visitors Saturday may
find the Fair and exposition in com-
plete readiness for their inspection.
The Mexican exhibit, which is to be
unusually varied and comprehensive,
Is already on the grounds, and Com-
missioner Nuncio will be very busy
for the next several days with Its in-
stallation. The display will include
the Government exhibit, which prob-
ably will remain permanently in San
Antonio at the suggestion of the Inter-
national Club, collection displays from
the several States and numerous in-
The Agricultural and live stock ex-
hibits will be, as usual, attractive
•features of the Fair. So much inter-
est has been taken in these depart-
ments this year that it was necessary
to greatly enlarge the agricultural
hall and to Increase the number of
stock pens. The farmer and the stock-
man will find enough at this Fair to
entertain and profit him, if he should
prolong his stay for a week or
throughout the entire session, for
there will be found in departments de-
voted to the farm and range the
newest developments in progressive
farming and stock raising and the re-
sults of experiments, which will have
an educative force.
In the line of special attractions for
the amusement and entertainment of
the general visitor there will be great-
er variety than ever before, if the an-
nouncement of engagements already
made can be depended on—so, alto-
gether, the approaching Fair will be
worthy of the attention and patrou-
age of every one and, with the favor-
able railroad rates that are promised,
the crowds of visitors in the city from
Saturday to the close of the Fair
should be such as to ma"ke It neces-
sary for all the hotels and lodging
houses to increase their housing ca-
pacity to the fullest extent possible.
Garden Spot of the World.
Lieutenant Governor Davidson, who
is interested in the banking business,
says Southwest Texas is feeling the
stress of the financial situation less
than some other portions of the coun-
try, because the cotton crop was gath-
ered early and largely disposed of
while the prices were high.
He might have added as another
reason that the farmers of Southwest
Texas have learned the lesson of di-
versification and independence to a
greater extent than have the farmers
in some other sections of the country
and, as a consequence, are pretty well
supplied with money all the year
There was a time when the Texas
farmer depended almost entirely upon
his cotton crop for his Income. He
had practically no available cash re-
sources from midwinter to the follow-
ing autumn, and, as it required pretty
Vaiaeh all his receipts from his cotton
to satisfy his commission mer«
it and to stock up his larder for
• season, he had very little cash
IB his stocking or In his bsnk.
:1a fnlte different now. The South-
farmer has been raising
««II as cotton. He has been
, and vegetables tor home
and onions and melons
and chickens and turkey* and other
things for shipment that hnvc kept
him in ready money during the sprint;
and summer season.
The rountry banks and the city
uanks bear toiUmouy to the pros-
perity of the Southwest Texas farmer
imd stockman In the Increased de-
posits which tliey carry, and while
there Is more or less money strin-
gency throughout the country as the
result of a temporary condition that
!s unusual, the effects are felt to only
n limited extent in this favored por-
tion of the world, where the farmer
can hold his unsold cotton for 20 cents
a pound If he likes and be not afraid
of going hungry In the midst of plenty.
He has meat and bread of his own
raising at home, and he is clearer of
debt now than he has ever been be-
fore. There are many new settlers
coming Into Southwest Texas, with a
fair supply of money as well as energy,
and the conditions are such that
everybody is reasonable happy and
prosperous In what will soon be re-
garded as tho garden spot of the
The Calamity Howler.
Of all the pests which inhabit the
earth in the garb of man, inflicting
discomfort and annoyance on society
where they exist, says the Chatta-
nooga Tradesman, the calamity howl-
er is the worst.
The calamity howler is Ihe prophet
of evil. He is the pessimist who lives
in the dark clouds, with never a view
of the silver lining, who sees in every
fleeting shadow the portent of disaster
and who dreads the car of progress
through fear of being caught under
He has no confidence in his kind
and no sympathy with the aspiration
for higher and better things, which
leads the industrious and thrifty to
toil and struggle with the star of hope
as their guidon and who look for
cheering words as a stimulus. When
the products of labor command a
high price in the market the calamity
howler is sure the country is being
ruined by the high prices, and when
the market is low he is quite certain
that the country Is going to the clem-
nition bow-wows. Conditions are never
such as to meet the approval of the
But sensible people generally know
the calamity howler well enough to
appraise him at his real worth, to
discredit his lugubrious pessimism
and to push him aside as a stumbling
bjock in the way of progress.
There Is no occasion for the calam-
ity howler here. He remembers when
a piece of land, which has Just been
sold for $50 an acre, could have been
bought for $1, and he laments the
folly of the purchaser, because he
cannot foresee that later on somebody
else will pay $100 an acre for that
land. He remembers when San An-
tonio was only a village, but he can-
not realize that San Antonio is now a
$ity and that the enhancement^ In
values in the next ten years may be
even greater than In the past ten
years. He is a knocker, as well as a
calamity howler, and a general nui-
sance under all circumstances.
But the calamity howler Is out of
place in Southwest Texas. There is
no field for his activities here, and if
he is looking for an audience he would
better seek it elsewhere.
The Memphis Commercial Appeal
asserts that the women's hats this
year are as big as boat sails and that
there is no good reason why the
boxes in the theater should be utilized
to advertise new millinery, anyhow.
Why not come down to Grand Old
Texas where there Is room enough
even for a fashionable hat?
It is said Oklahoma cotton growers
have determined to hold their cotton
for higher prices and have fixed upon
16 cents as the minimum figure. The
spinner probably will pay that much
for cotton If he cannot get it for Ws,
but at present he does bot, seem in-
clined to pay above 10- cents, for
either spot cotton or for future de-
The New York Evening Wail boasts
that there are more ex-bank presidents
in Marvelous Manhattan than there
are depositors in the whole Common-
wealth of grand old Texas Texas re-
nigs, as the list of ex-bank presldeuts
of New York is increasing too rifld-
ly for the population of the Lone Star
State to keep In the race.
There was never a better general
cleaning up of the city than now. Next
week the city will be full of visitors
and they ought to see San Antonio
looking as spic and span as It Is possi-
ble to make it look. Always the clean-
est city in the Southwest, San An-
tonio should make extra efforts for
tidiness about this time.
According to the Washington
Herald, a candidate for office in Penn-
sylvania, named People, la running
strictly and absolutely for the Poo-
dle's benefit. There are those, how-
ever, who entertain doubts as to the
benefit that will accrue from ofl'iee-
hoIdinR in Pennsylvania.
In the elections which are to be
held tomorrow National Issues will
hardly be considered, but It would af-
ford great satihiactlon to the support-
ers of Judge Taft's Presidential as-
pirations to learn that Cleveland
voters had concluded that they have
had too much Johnson.
The Baskin-McGregor law requires
that the view of the interior of bar
rooms shull not be obstructed by
screens and other devices used for
that purpose, but It Is not probable
that it was ever Intended that the
doors should not be closed in winter
to shut out the cold.
That El Paso firm which advertises
that, with every range sold, they will
give away one-half ton of coal, prob-
ably does not realize that in the near
future they may be giving away stoves
with every half-ton of coal sold, and
possible may not have to offer the
"Ice Men M*et Today; How Happy
Tliey Are" reads a headline In tho
Fort Worth Star. It cannot be imag-
ined just why an Iceman should be
happy at this season of the year un-
less he has just finished counting Ihe
John H. Kirby, says the Beaumont
Enterprise, in a recent address, gave
some good advice to the young men
of Efest Texas, when he told them to
get a home now. John H. always dll
believe In boosting the lumber game
on all occasions.
One man is dead, four wounded and
one expected to die, as a result of a
little misunderstanding about a street
car transfer In San Francisco. When
ballooning begins to pall, the erst-
while auto-enthusiaets will, no doubt,
take to riding the Frisco trolleys.
It is unfortunate that the Inland
Waterways Convention Is to be held in
Houston while the International Fair
Is in session, but the delegates ap-
pointed to represent San Antonio at
the convention ought to be there, just
Many a man today may benefit tha
Nation by his work and die unrecog-
nised, but the man who wins the
hard-fought game by a good kick from
the field Is acclaimed from New York
to New Braunfels. Such is life.
The Austrian Government demands
sixteen generations of ancestors of
Miss Gladys Vanderbilt before it will
sanction her approaching nuptials. If
she had them, what on earth would
she want the Count for?
Count Szechenyi, better known as
the fiancee of Miss Gladys Vanderbilt,
in characterizing that camera fiend as
a "beast," laid himself open io a
charge of being a nature faker.
It is hard luck when a man smiles
at adversity to have the gold filling
stolen out of his teeth. That's what
happened to a St. Louis man who
grinned at two hold-up men.
WHAT THE STATE PAPERS SAY
How's your wood pile?—Nacogdoche.i
From last reports It was noU
♦ ♦ ♦
All the world hates a grafter.—llavs
That la, nil the world professes to
♦ ♦ ♦
Another Point of View*
The lawful season for hunting quail
opened up yesterday.—bugle Lake Head-
Sure the awful season for the hunted
quail opened up.
Way of the World.
Th# sidewalk builder Is n public bene-
And1 yet the man he builds It for
usually cusses him out when the bill
♦ ♦ -e-
A solltury mosquito was seen this
morning wendlUK its way slowly over
the lea.—Corpus Christ I Caller,
That was probably Joe Boehmer com-
ing In from Kagle Pass.
♦ ♦ ♦
In Several Ways.
The world' may he grot.ing worse, hut
obligations if the citizens are more
sharply defined.—Rockdale Reporter.
And those who fall to realize this are
being dally forcibly reminded of the
♦ ♦ ♦
A Large Audience.
Ml the world's a stage find half its
actors pay tlclr way ir. fines for not
knowing their lines.—Cucro Record.
It will no doubt be consoling to Ray-
mond Hitchcock to rcallzo Uiat ho Is
still acting. x
♦ ♦ ■*■
The first thing that the cplton seller
must do Is to get a decent sort of a
package lor the cotton.—Fflugerville
Sure! The Oklahoma sellers. It Is un-
derstood. believe in getting a package
of about 10 ccnts a pound.
-*- + +■
The Chicago Inter Ocean Is wondering
if there was a Pocahontas. Of course
there whs. Don't all the school hls-
tculins tell about her? These incono-
(lasts are always stirring up a ruction.—
The next thine you know someone will
be wondering if there was a Bill Sterret.
♦ ♦ '
There may be a few young men who
will envy Ihe Crown Prince of Germany,
who has been relieved from military duty
In order to take a course of lessons In
how to he an Emperor. And the beauty
of the system is that he is sure to "pass."
What does he want to do that for? He
should stand pat.
We are all beginning to like Roosevelt,
just .'if much for the enemies he has
made as for what he has dore.—Beevllle
It Is nice of the Bee not to credit all
of Its admiration of Teddy merely to
his having killed one poor, lonesome, lit-
tle bear in the canebrakes.
If you can please ^everybody you csn
congratulate vourseli' for having done
more than Christ did when he was on
Such a statement Is unseemly. Al-
though It Is Moore Model than tome
pr-.pers, it Is to doubled if It Is as
♦ ♦ ♦■
Why Refer to Bart?
A high Mexican official has Just given
voice to this utterance: "Mexico once
welcomed the Asiatic; today she fears
him. Soon, very soon, the bars will go
up." The lino Is to be closely drawn
between the white and yellow races.—
But what Is the relHtlon between the
influx of Orientals and the possibility of
prohibition in Mexico?
♦ ♦ ♦
Should Be Interested.
The lunatic asylums are full and tha
overflow means many unfoitunatfs iii
the county Jails Texas csn ill afford
sueh a state of affairs and the next
legislature should lose no time in infix-
ing It possible for all the Insane of t.ie
Stat? Io receive prompt and proper care
and treatment.—Corslcana Sun.
Thi.i st.oulA >e a matter near to the
heart of the legislators, especially such
as were members of the Thirtieth
♦ ♦ ♦
If, ns Governor Tom says, the man
who puts advfise criticism *n the last
Legislature is not a Democrat, the Solid
h'eufh Is at last broken ami It Is to be
wondered on v/hat ticket Tom will run
t-> succeed himself —San Antonio Ex-
press. , , ,
The man who Is afraid to adversely
criticise any Legislature Is no Texan,
and -i poor Democrat. If the Governor
solicits the support of crly those who
approve all the acts of the Thirtieth,
he would better be looking around for
a soft place to light when his present
term expires.—Falfurrias Facts.
It now appears to he up to Tom.
♦ ♦ ♦
The bankers of San Antonio are to be
congratulated on the stand they took
In declaring that they would stand by
Southwest Texas during the financial
crisis that has Just passed. AR hmitn-
nent Texas is proud of them. It shows
the character of men engaged in the
blinking business in Sar Antonio, vve
know now that th»y will do to depend
upon It. times when men s souls are
The stability of the Stan Antonio banks
Is recognized not only by the people of
this section, but throughout the whola
State. The flurries of Eastern finance
will have I'ttle effect on Southwest
Texas. The financial condition is excel-
♦ ♦ ♦
We pre more than ever convinced that .
deep water is the moat Important Imsua
confronting clt.iens of Corpus
Chrlstl.—C. C. Caller. |
Deep water has been confronting th" i
citizens of Corpus Chrlstl ever since the |
Naples of the Gulf came into existence,
and they are constantly getting nearer
to it.—Express. , ...
Net alone do the citizens realize that
deep water is the most Important Issue,
but at last they have convinced the
proper committee of that *ac.t. Texas
Then the lnatttr has teased to be sn
issue and it is now assured that Corpus
Chrlstl will have twenty-five feet of
water right up to the wharves of that
TO TOE MAN WHO MAKES HARD TIMES IMPOSSIBLE.
St. Louis Globe-Democrat-
TOPICS OF THE TIMES
Just at present not much is being
raid Itbout a railroad from the metrop-
olis to the Rio Grande, but Just wait
until the crop is moved and the money
situation eases up a bit.
The 8t. Louis Times asks, "Is John
D. a baron or a baronnlt?" If John
D. Is a baron the baronetted enough
to keep him from being barren for
With seven candidates for Gov-
ernor. all running at once, Massa-
chusetts must be beginning to feel
like the Republican party.
I see stars In both your eyes,
And you stir me when you speak
Like new wine.
You're a sorceress, I know.
With a witch for aunt, I vow.
Now you are a sweet-faced nun—
Ah, so good;
You could almost make me, dear,
What you would.
It Is hard for me to say
When I love you best, my May,
Bad? or good?
Ah, you tantaliie me so,
Till you have my brain and heart
In a whirl.
' If your mood be gay or sober,
1 shall always be your lover.
DAISY MARQUIS BRIGGS.
Flszless soda water Is a fizzle never-
Some people make room at the top by
pushing others off.
If a cook has a good temper It's a sign
that she Isn't a good cook.
A woman la alwnys pretty In the eyes
of a man who Is in love with her.
How disappointed the average man
must feel every 'time he looks In a mir-
Don't wait for your ship to come In;
charter a tug and go out and meet it.
How meek and lowly a girl la during
courtship and how atrenuoua after mar-
Lowering the Cost of Living.
A recent bulletin of the Federal Bureau
of Labor presented the results of an elab-
orate inquiry into wages and retail prices
of food during the period 1390-1906. The
conclusion reached was that while the
average retail price of the principal arti-
cles of food was over 15 per cent higher
In 19W than the average price for the
decade 1890-1399, the average weekly earn-
ings of the employes in the establish-
nients and industries that had been in-
vestigated—and these were representa-
tive—were over IS per cent higher than
those of the year* 1890-1899. In other
words, wages were nearly 2fa per cent
ill advance over retail prices in the up-
ward march of both.
These figures were not applicable io
salaried classes and to people of fixed
Incomes, and it lias been freely admitted
that tiie high cost of living which has
accompanied the unprecedented demand
for products of all sorts-necessar es,
comforts and luxuries—has been anything
but an unmixed blessing to these ele-
ments of the population.
There are indications that, entirely
apart from the recent financial flurries,
a distinct downward tendency—a healthy
and natural tendency—in the prices of
commodities is about due. In Great
Britain il has been In progress for some
weeks, the leading trade organs having
noted and commented upon Its various
manifestations. The quotations of raw
materials used in the staple industries
have unmistakably registered the decline,
and It has been welcomed by sound
financial thinkers. Lower prices, they
pointed out, would not only prove no
menace to National prosperity, but would
tend to sustain it by encouraging con-
sumption and making it easier for the
salaried and other classes to maintain
their normal standard of living.
In this country the downward move-
ment of prices has been very slow In
coming, hut a good many business men
hive looked forward to its appearance.
They believe with Mr. Cudaliy, who has
been quoted 111 our news columns apropos
of the 10 per cent cut in the prices of
beef in Omaha, that "Reneral conditions
seem ripe for a lowering of the cost ot
"interviews with certain dealers show
that butter and eggs are somewhat lower,
and other foodstuffs should be affected
by the same tendency. The producers
will still command good prices and sub-
stantial profits, but there is a poln. be-
yond which consumers cannot go, and
forced economy reduces the demand for
How Men Become Great.
"How did men become great In the
days when there were no magaslnes or
newspapers?" asks a faithful and valued
friend of the Post. It Is an honest ques-
tion and deserves an honest answer.
We, who live on the top of happy hours,
heirs of the ages, have many reasons
for pitying our poor benighted ancestor*
whose chief claim to notice Is the fact
that they ancestorcd us. The principal
reason why the ancients should be com-
miserated Is that thev were deprived of
newspapers. The imagination recoils In
contemplating the state of our ancestors
In this regard. That any of them
achieved greatness Is marvelous; and
still more prodigious is the fact that
some of them actually had greatness
thrust upon them. By what process?
Through what medium?
In the old days a man was sorely han-
dicapped in his race for fame through
lack of proper facilities. He may have
been born great—but what of It, unleaa
others eould be advised of that fact?
Nowadays, when a young novelist just
out of nls diapers produces a master-
piece, his fame f«r the ensuing week Is
absolutely assured. He becomes a nest
seller. The magazines blow the trump
of fame, and the newspapers interview
and picture him. He eats Nerve Bran at
breakfast; he is passionately fondofgoir;
he smokes a pipe in bed, where ht reads
until daylight; he composes his master-
pieces on horseback, dictating to an
■imanuensis in an automobile that follows
hard upon, and so forth. Or, if the great
man of today is great fcecaus-i he is rich,
the papers and trie magaitnes make him
greater. He becomes a colossus, capable
of toppling down thrones and boosting
the price of meat. His thoughts on art
are reverently printed, along with his
table talk on stocks, the Presidency, the
proper way of packing hogs, and other
Ah, life was not so easy in the old iron
days! There were great men thou—a
few—not so many as now, of course.
But tliey were forced to be their own
publicity agents, or, at least, their deeds
had to speak for them. Some of the
antique men called great were poor sticks
as fame reapers. They did not seem to
grasp the art of publicity. Alexander
performed several remarkable stunts
which with proper exploitation might
nave made him Instantly famous. But he
died without knowing that he was to be
so thoroughly advertised. Other men
gained battles and sieges, and forgot—
actually forgot!—to write up the alfalr.
Mr. Shukespeure, \ writer who might
have been great In these days, was ab-
surdly Incapable of booming himself.
He passed out obscurely, with only a
puff from Ben Jonson.
How. then, did the great men of old
become great? The at ewer is that
mighty few of them became great, and
modern research casts doubt upon the
greatness of those who havo been called
great. Look at the multitude of great
men now, compared with the starveling
crew of old! The old-timers became
great only by accident, ns It were. Either
they performed some feat which assumed
prodigious qualities In the superstitious
common mind, or they cunningly lied
about themselves and started a local
fame which spread as a tradition through
the centuries. Thus, when the whole
thing Is simmered down, It will se seen
that men did not really become great
In the days before there were newspapers
and magailnes. Their greatness is a
mere superstition. The only really great
men are the moderns, who know how to
make fame eorout and bear abundant
fruit from little or no seed.—Washington
Perils of Monty Hoarding.
The persons who are drawing money
out of the banka and putting It in pri-
vate hoards, are being attacked In two
ways these days. First, they are losing
all Interest upon It, and in some eases
are being shut out of the safe deposit
companies. Secondly, In concealing it In
their own homes or In other hiding places
they run a risk of losing it from the Ir-
ruption or sneak thieve* and burglars
who are beginning to get bu»y. Some of
the New York sate deposit people are re-
fusing to furnish receptacles to the
scared persons who are coming to tft«m
with the money which hsa been drawn
from the banks, and are thue compelling
them to Keep in some improvised recep-
tacles around tneir own nomes.
New tors s ponce department has sent
out warnings to that city to be on the
lookout tor burglars, who are expected to
be especially active until tne 4present
money scare ends. A* tens ot thousand*
of persons in New torn nave prouaBiy
taken their money out or the bank* and
secreted it at home tne burglars are
looking ror "active bualnesa" in their
itne for the next tew week* or month*.
The warning wmcn tne New tork po-
lice nas, sent out is applicable, in a
smaller way, to all the other towns of
any consequence in tne country. The
burglars are looking ror a harvest In
tms trantic tinance wntch la hoarding
up cam tnat 0ug.1t to be lett in tne
bank*, or placed there wnen obtain-!.
Heinse, Ryan, Belmont and tha rest ot
the high financiers who have brought on
tnis flurry ere powerful triends of tne
burglars and snc aK tnieves.
The proper place for money in this exi-
gency is in tiie banks, where it will cir-
culate in trade cnanneis and relieve trie
tension. secretary 'Cartel you threw
irany millions ot treasury deposits into
the National banks a few days ago. J.
P. Morgan did the same, and otherH of
tne solid financiers who turn up In a
crisis are doing the same thing. Most
ot the boarders are ignorant or r nought -
less, and clo i-ot know the damage whi ,!i
they an* inriictlng on themselves ami on
the community, in a city like wt. ixuils,
where all the banks are sound, there is
not the sliKiiest excuse tor a si\n*3.
Kvery financial institution in this city
is solvent, it vcan pay dollar tor dollar
Gt all :ts liabilities. Tne Hoarders them*
reives win ue tne chief sufferers from
tneir blindness, out m a certain degree
the entire community will be hampered.
Tut tho money in ihe banks and keep it
there to be used in meeting legitimate
and current needs —st. l^ouis uiobe-Dem-
ANALYSI8 OF PANICS.
Fear of Trust Companies Blamed for
When Just 4it the close of the Seven-
teenth Century the financial necessities
of the British Government led to the
creation of the Bank of England, objec-
tions to the scheme, aside from those of
a political nature, were chiefly raised by
the goldsmiths of London, in whose hands
had been lodged up to that time what-
ever banking business there was in the
The goldsmiths, whose occupation it
was to buy and sell tho precious metals,
came naturally to receive quantities of
gold and silver bullion on deposit, giving
therefor their receipts, which passed as
money. Their opposition to the proposed
Bank of England was, of course, due in
reality to personal reasons, but was based
ostensibly on the economic ground that if
business In the country was to he handled
In future upon a credit rather than upon
a cash basis, fluctuations in prices of
every sort would become much more
rapid, and that if there was a general
rush of people at any time to get their
money from the Bank of England, or Its
possible branches, the financial affairs of
the country might be thrown into con-
Theoretically and academically, the plea
of the goldsmiths was sound, hilt the
merchants of England were, aslre from
the exigencies of the moment, Impressed
with the conviction that whatever occa-
sional disadvantages there were that
'might attach to the Introduction of this
credit system of doing business, they
would be more than compensated by the
Immense stimulus that would be con-
tinually given thereby to the development
of the commercial and Industrial enter-
prise of the country.
It was realized that In the great ma-
jority of Instances people would not wish
to use all their money In actual cash at
any particular period, and that the main-
tenance ef a reserve fund by a banking
institution would answer all the usual
purposes of banking solvency, allowing
the bSnk thu* to utilise the greater por-
tion of the money deposited with It In
loans to borrowers upon good security.
Elementary as these principle^ are. it is
yet doubtful If even in our own day they
are fully understoo* by the people at
Nothing can cause such an Immediate
and general paralysis of business as the
wholesale withdrawal of money from
banking Institutions. A "run" upon a
bank, therefore, even If the Institutions
be of more than solvent character—such
a bank, for Instance, of which there are
many, as can in the ordinary course of
business not only liquidate the claims of
Its depositors and Its stockholders, but
leave a large cash surplus remaining as
a result of the Increased value of Its
wisely chosen Investments—leaves the
bank no recourse, if the situation is such
that It cannot obtain assistance from
other Institutions, but to raise cash, if It
can, by a sacrifice of Its securities for
whatever price they may bring In the
panic-stricken market, to temporarily
suspend payments, .ir to make pay-
ment only by check upon other banks.
What we have been through has not
been caused by any fear of the general
solvency of financial Institutions, but an
old-faahloned money panic, pure and sim-
ple. The duration of such disturbances,
it I* to be remembered, have almost In-
variably been proportioned to the extent
of their violence.
There are at times a series of develop-
ments In the financial world of such
startling and sensational character that
any written comment upon them Is, from
one point of view, almost tedious. The
scenes that were witnessed Irf the finan-
cial district last week and the state of
tension that prevailed there have not
been paralleled within the memory of
moat of the people now active in busi-
Disturbed over the revelations that
were made in the case of one or two
financial Institutions, people started to
withdraw their money from a number of
other Institutions, centering their fears.
It seem*, upon several of the local trust
The tendency spread to other cities, all
this involving inevitably a large with-
drawal of money from institution* not
affected by any run, but who were com-
pelled to part with money for the pro-
tection of brother hankers and In re-
sponse to the claims of hanking de-
positors. and it Is needless to allude. In
detail, to tlie general course of events
It is not at all a case of hanking meth-
ods 111 general, hut of specific Integrity
and ordinarily fair business judgment on
the part of those in control of Institu-
tions. There are plenty of good men in
the banking anil financial world.
How the old line trust companies and
big national hanks, with years of ex-
perience anil conservatism behind them,
stood out like mountain ptaks, calm and
undisturbed, in last week's »torm! And
how the whole financial world turned to
J. P. Morgan and his banking asso-
ciates for guidance and reassurance. Un-
doubtedly there must be some change
when things have quieted down in what
mav he called the general trust company
situation.—New York dispatch in Wash-
THE RAILROAD PASS.
Direct Charge Made That Some Con-
gressmen Are Using Them.
It has come to the ears of members of
the Interstate Commerce Commission that
certain Congressmen are traveling on
railroad passes. The offenders are said
to he many. The names of some of them
are known, and in the case of one South-
ern member at least the number of the
pass has been secured.
Out may not a Congressman who Is
emploved bv a railroad company ride on
passes Just as anv other employe does?
This is the problem with which the.com-
mission Is confronted. The general pub-
lie has been tinder tho ImpnSStfion that
he is expressly forbidden to «lo so. In
fact, when the Hepburn act was being
considered this very phase was thor-
oughly thrashed out and the country at
large was led to believe the "old reliable *
annuai had seen its day as an Influencer
of legislation and a molder of legislation.
On the strength of this Impression
many a rural voter was reconciled to the
$2500" a year Increase In Congressional
salaries granted at the last session. Bep-
resentatlvfs and Senators alike gave the
cutting off of passes as the principal
reason for voting themselves more pay. .
The ict to regulate commerce, as amend-
ed June -9. 1M7, says:
"No common carrier subject to the pro- /
visions of this act shall, after January
1. 1907, directly or indirectly Issue or give
any Intel state free ticket, free pass, or
free transportation for passengers, ex-
cept its employes and their families, its
officers, agents, surgeons, physicians and
attorneys at law."
In ruling on this clause the Interstate
Commerce Commlssum said:
"The provisions ot the net relative to
the Issuance of free tickets, free passes,
free transportation, or free carriage to
employes of carriers apply only to per-
sons who are actually in the service of
the carriers and who devote substantially
all their time to the wcrk or business of
Under this interpretation of the law It
is up to offending Congressmen to speak
up and declare which master he is serv-
ing. If he is qualifying for .1 pass by
giving substantially all of his time to a
railroad company, his constituents will
he glad to know wheie h" stands, and If
he Is not the Interstate Commerce Com-
mission will be pleased to hear him
make his nets jibe with the law. If con-
victed of taking 1 djiss unlawfully, both
he and the railroad Issuing it are liable
to fines of not lets than $100 nor mors
Any number of Congressmen are In the
employ of railroads, principally as attor-
neys. but none has as yet expressed a
desire to have his right to ride on a
railroad pass tested in the courts or be-
fore (he commission. Indeed, riot v»ll of
Ihese railroad Congressmen are tempting
fate. Just a goodly number of brave
souls have decided that th« game "is
worth the candle."—Washington Dispatch
to the New York World.
Light In Dsrkness.
Did we think of the light and sunshine,
Of the blessings left us still.
When we sit and ponder darkly
And blindly o'er life's ill.
How should we dispel the shadows
Of still and deep despair.
And lessen the weight of anguish
Which every heart must bear?
The clouds may rest on the present.
And sorrow on days that are gone.
But no night Is so utterly cheerless
That we may not look for the dawn I
And there Is no human being
With so wholly dark a lot: ,
But the heart, by turning that picture >
May find some sunny spot: |
For. as In the days of winter.
When the snowdrifts whiten the hill,
Some birds In the air will flutter.
And warble, to cheer us still:
So. If we would hark to the music.
Some hope with a starry wing.
In the days of our darkest sorrow.
Will sit in tho heart and sing.
The Nasty Thing.
Sweeting Thing—What wa* the mo*l
remarkable thing you met with In youi
■ travel*. In Egypt?
Mujor Orump—The mummies of theli
Queens. Who'd ever think a womar
could "dry up" and stay quiet so long?-
, ■ '■ A,,.. . • ,
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The Daily Express. (San Antonio, Tex.), Vol. 42, No. 308, Ed. 1 Monday, November 4, 1907, newspaper, November 4, 1907; San Antonio, Texas. (texashistory.unt.edu/ark:/67531/metapth442239/m1/4/: accessed November 12, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Abilene Library Consortium.