The Comanche Chief (Comanche, Tex.), Vol. 50, No. 41, Ed. 1 Friday, June 2, 1922 Page: 8 of 10
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of j.
gns»(
od It nod pushed
wdjfh* «**
have used it, and
It to the comm man's
it they ■
in position where
of their Ipcnl bush
1 have many tin
why the
put them
take care
n been naked the
Federal Reserve
2t£kd£s-
statement that no
business
ion has
ahouW hectlons,
man In
question
'generally
no board xould be so
heartless. As to willfully bring about
the terrible conditions of 1990 and the
year 1921. J. P. Morgan ft Cp* rift
their association and bualneea coo.
KHLee Hig-
tnmx pwmwwi
nater, he could oot l
Trying Te Ex
ink «f New York.
tlon, wilt*
.<* thli
thou; the hie-
the
I was rttgderstood by
I further said; "With
centered la the, president and
ltd, as hr given by this bill,
a free lggdfde and a free
ten a board appointed by
n has discretionary; power to
ne this, welfare, happiness and
of Srery man. woman and
ms do amt haaac
in
her sort of
of all sort*
pense. The
at Washington took
of the Government of Haiti in
“d “W msr.oos ,0^
of forcing . loan on th«e people.
wm would give us
liberty. This t# not a free ami inde-
ntoctod to a
board which means weal or woe as It
is angel or devil” I said again: "The
hankers of the country ace called upon
by this bill to furnish theicapital on
which thii board operates. When they
furnish/ the * capital to make this
scheme operative, they will operate
the scheme." These statements were
based on common sense and a com-
issuer
who studied that act ought to have
been wise enough to foresee its possi-
bilities and Its probabilities. The
board added a billion dollars to the
circulating medium from the close of
the war to May 193$, aud from May
Lat us look Into that like, reason**
Had vou had ordinary stocks
that you dejfi to unload on the
[C In 1919 «
Federal Reserve
in 1919 and,Jbeil control of the
re Board, wouldn’t you
baye inflated the count™,**as to la.
erases the rate* of/our holdings just
ftp much 4s y«p| dared Increase the
them, than wouldn’t you have
sold your ♦ ntfro holdings to the unso-
phisticated and unsuspecting public
and purchased government bonds that
could not depreciate in value? When ‘
you ,had made this exchange of your .
ordinary securities at the enormous*
prices thst flourishing conditions made
In the first part of 1999, and had se-
curely in your hands the government
bonds, would , not jpu have brought
01* the squeeze that reduced the num-
ber of dollars In circulation and there-
by increased the value,of your bond*
tna -tar^imre" of yw xtmajn name
and lrilhls ■■■■
instance throe times what
they were at the time ytu made the
what waa going to be done i
nation process and had sold your cut.
tie gnd sheep and pot your money in
government bonds, that were at that
time netting around 90 cents, then had
oacaeci otz and net down until today,
your bands would be worth three
times as many cows, and three times
as many afceep aa they were worth
the day you made the exchange. Inft
that exactly what the great security
manipulators did? , 41 I
the war our
ar* Toddy,'
If paid In wheat .Seattle, corn, cotton
hog*, sheep or Justs. U would to$e
three times a* much to pay that
33m
simple process of
When we came out
debt was 90 billion
ie process of deflatl
th~by 5 °jas
measured by the amount of products
of field, forge, and factory that would
hgve paid the deht when made.
Borne claim that the board did not
alisc what they were doing aud did
about the conditions we have discuss.
shout that. Mr* John
Ijet us wee shout
Skelton wflMams was Comptroller of
the currency under Pres. Wilson, bad
ns rath wnn member of the Federal
Board. Mr. Williams aald:
“I heard much talk while | waa a
member of the Federal Reserve Board
Wheat, and the cotton planter to aril
his cotton. Mid the cattle man to aril
his cows.” Mr. Williams aald again:
"When T remarked to my associates
tost serious failures might occur un-
less a certain course of action
*Let £hem fall’.” Again be *|id:
“Thatheart breaking and purse brenk.
aad other ooaamodltiea
to to the
terms of antisfaettoo aa
Iattons. Wa bad
waa cited in
indicating the
> of the board’s policy of de-
* Apd M another occasion Mr.
Williams aai^whau they wars discuas-
■ wctP
bud export trade from the time the
war dosed, steadily on up hnttt tho W
Federal “Reserve Bank Changed hor pol-
icy on credits, that this country ever
witnessed In her history. Our export
trade amounted to 8*btllton dollars, t /
lag tho affect on tho small state banks * the year before May 1920, the
throughout the country, gome member
of the board said, “If this Man means
tho failure of tho small stats banks,
that aosd not stop It. In fact, if we
Cannot got rut of the small state banks
9y any other method It might be aa
well to get rid ef them that wayM
I Mated that the J. P. Morgan in-
ternets operated not only throughout
tho United StoteTibut that they had
dominated tho finances of the alliea.
Note Mr. fPm* statement on this
•slat: *Hm greets of tho Federal Re
oorvw Board’s pgUcftm have bean world
wide, th illuotrate, Tokio Japan
gSLgy-g,,tig j!
United Stetao by a a
1920
bought In the
r by a Oilnma firm on
sight draft. Than whan
w Board called In
firm waa Informed
weald ha+e to pay cadi «m
»te r
almost throw team ln-
* If yon recall, about
that our bonks hi this
notified by the Moral
‘ the direction
Board, that
they most step credits, tho Japan silk
tellure came. Than the collapse waa
on. Owe day yon had a price for your
wool. The next day you could not
give it away. One day you had a
pries dss your hide* The next day
them
was no msxfcet. One day bua-
nbout forcing the farmer to sell hia .teaoa w** Stfwfififig more employment
Kell thaw them
men to work. ..The
next day they were padding the high-
ways hunting a Job. No change In
No dmngo la lay
the J. P. Morgan inter-
ests change the financial policies of
eat export trade by 00 per cent this
country aver knew. The condition of
the allies in June 1990, with the ex-
ception of their financial status, was
just the same. The condition of thf
United States in June 1920. with
exception of her financial status, wi
identically the same It waa In April
before, But auddanly a chill hit all
business and theca had only bean one
change made and that was reverse
Ilia credit tew by the Federal Re-
serve Board, Thirty one staple term
products fell Worn MS In June 1990 to
io« in June 19tl and them had bean no
change In the tariff law during that
time, no change In European condi-
tions, no change In anything except
the change of the* Federal Reserve
Beard and their maatpatetioas of the
finance* and the saanfeadationa of the
fineness of the allied countries by J.
P. Morgan interests.
What are you going to do about it?
Are you going te tamely submit to
this system of Industrial slavery or
ate you going to Insist, through your
representatives, that the Federal
serve act be so changed that a
of seven men cannot ait with (
denary and arbitrary power
mine- your weal or woe. I
nation be governed by law
it become a nation govern
board? Let us circumscribe
ers by legal tnactment so we
what they are going to do,
they will be forced by law to certatiMi
mU, A# «An^«V .lift. MlfAMAAS »A
I
'■ “I K
the go
»W .0.
fj
Tan!
ta¥cn. 'jS»e~Sf TSe this country and the allied countries.
Some simple souls want to claim it
was dot to our foreign trade re-
our finances. Let us make this again
a government of law and make it a
government by the people and for the
people Instead of a government by the
Federal Reserve Board, for the inter,
eete It sees fit to serve. ■
.....'■
1
ft'*. ^ jB
during the life
ns protested to C
iy the people of
life of
Con-
the
their organisations de.
Mfirlre to ter.
of Haiti, have
of civil disobedience.
Santo
in Haiti,
financial *920 to now they have taken freaa
L.f5? e
I J
South American
loan
the circulating medium three billion
dollars. The greatest amount of Fed
oral Reserve notes In ptrculatlon to
1920 was three billion five hundred
million. The amount of federal re--
serve noterf to circulation May 10th,
1922 waa 47F million S86 thousand. In
other words, the jrtderal Reserve
Board’s deflation policy contracted the
money aboat $90 per capita and would
and
oecupa-
.T'the
the
of the sea
We had]
ffJMKZrrl
the end of the Roman
IlSS the
have produced complete, wreck and
ruin to all the business industries of
of At- the country if tbs’ War Finance Coe-
te poratlon had not been revived by Con-
of grew. It loaned through that medium
to the term and livestock industry of
if*** ■ rw
world bad ever
today
look bock to them
They
the
once proud
■nini
^os».*rs
?s«
sWBPwFV
of seven
>f the en.
co
B«rd
New Quick Way
toEnd Sore Throat
A sore throat mesa" that disease germs
have entered your system. Kill them
quick—before they have a chanef to
Mart their deadly work! Just gargle a
teardrops of the wondertolly effective
antiseptic STKRO-LINE. See hoW
qnlekly Ihn »(rim»jkte Jteitsalmosl |
^l^,«rib7^teS«^r?sLi||
At all druggists. 40-cent
months. Get it today!
DOttl0 IMIS
QTEROLINF
4^ KILLS SORE THROAT GERMS ■■
-i_-
A few Cam left!
& I
_ ■ I
- J
I
1
m"
W: *
-hr
Km
,,4,”
You can still take advantage of the
wmm
twr-
■ iv»*
R- N O 1
Mm
I
I i
:*>■ -Mi\
___
,
»'^v'i'
IH
OSP
PO
m
jNj
Ht*f ■
it,
V-'
i»?ij
PKfr
OME grocers still have a small supply of the large
12 oz. cans of Dr. Price’s at the special price of two
cans for 30 cents. ■ •? VJ t
If you have not taken advantage of this big money-saving
opportunity do so at once ^
App<
In the
the ca
to ton
der In
Dell T
venUe
25, 19J
Ucs t
and a
In the
Mrs.
•Ire b:
deep a
sent 1
and si
days <
men o
to the
hand 1
durins
funera
\01
Thei
millioi
tf. E
one to
mau t
there
In thi
mea
,-fc
thi
tequlr
the cc
S^Iarkt
has a
to ex
Public
tog a
the b
a
ssgm
The cans bear this special sales sticker on the label:
ILffi
u:}''4
* r>—v./'T/,
J,
fi
SPECIAL ADVERTISING SALE
One 12 oz. can at regular price
One 12 os. can at •pecial price
Li4
Two 12 oa. cam for
Perfect Satisfaction
4nd
i her t
or Money Refunded
mm
Tli‘*»e
men 1
town
will e
ton cl
Am
Natlo
that
cent
to fn
Xi'iulii
gneiat
Hast*
fn nn<
Tins
poslti
first
ahoul
liimsf
there
emjth
man.
Cot
i £S
IIbB
I
■M
*J5
T J Colic
bette
f ■
is new
just from
Powder Factory, and
ounce is
,, j
perfect satisfaction or money rriunded.
■
ocer
grocer first
t*-1
„* ' ' if , * /
m
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Callaway, Stella C. The Comanche Chief (Comanche, Tex.), Vol. 50, No. 41, Ed. 1 Friday, June 2, 1922, newspaper, June 2, 1922; Comanche, Texas. (https://texashistory.unt.edu/ark:/67531/metapth888731/m1/8/: accessed May 2, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Comanche Public Library.