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About The Coos Bay times. (Marshfield, Or.) 1906-1957 | View Entire Issue (Jan. 31, 1908)
THE DAILY COOS BAY TIMES, MARSHFIELD. OREGON, FRIDAY, JANUARY 31, 1908. II ON OUR FINANCE Coos County Rancher Writes His Views on Contemplated Currency Legislation. To The Coos Bay Times: Our Senate Financial Committee is now wrestling with legislation which must be of vital interest to every citi zen, one way or the other. While I do not believe In Jumping a fence till I get to it, I do not bellevo In wait ing till one gets kicked over itk Therefore it seems that some dis cussion on any probable legislation Is always in order, barring nothing more important. From the talk of the people one would infer that there Is not a more often thought of subject than that of "Financial Crisis." The Finance Committee is expected to recommend legislation that will readjust the present stringency and prevent its recurrence. From the dally paper talk it seems that both sides of the Senate and Congress are endeavoring to frame such legislation as will pass without any lengthy de bate, on the grounds, first, that the subject Is not a political one, and second, that sensational talk on the subject might tend to alarm people and bring back a recurrence of the conditions from which the country is just about recovering. Among other things it is under stood that the new financial bill be ing prepared by leading senators will authorize acceptance of real estato mortgages as security for national tank circulation. This radical de parture Is claimed to be necessary trom the fact that the smaller banks throughout the south and west do not possess sufficient bonds to put up with the treasury to secure their cir culation; and that they would in most cases have to purchase them Xrom brokers or from big speculative institutions in the larger cities, pay ing for them a premium aboue their ing for them a premium above their original cost price. It is from a farmer's view point and in the farmer's interest that I wish to discuss this proposed legis lation which will doubtless become a law without discussion In Congress, since the Republican organization In the house is expected to accept what ever measure receives the approval of the majority in the Senate, and to push it through without any waste of time by the aid of the machinery of the committee on rules. Now, a larmer wants to know why this un duo haste in passing nny measure -without discussion for fear of some sensational talk, when that measure Is purported to bo by the people and for the people. This seems to bo sufficient reason alone to condemn tho proposed bill; but wo should bo sure of our grounds before branding anything ns class legislation. Then let us look at the effect of such legis lation on the two classes of peoplo whom It will concern, tho farmers and bankers, or real estato owners and bankers. Suppose, under tho proposed bill, your bank finds a de mand for more money than it can supply or, to state it In different words, it finds it can loan more mon ey than it has; thou It will gather up all Its real estate mortgages and do posit thorn with tho treasury and re ceive therefor a certain per cent of their face value in currency. Now in order for your bank to have first come into possession of theso mort gages it must havo loaned theso farmers or real etsato owners money for which it is receiving a good in terest. Now this bank can exact an other Interest out of this sanio first and original loan from some other farmer who happens to bo hard up and wishes to borrow from tho bank this currency received from tho do poBlt of the first mortgage. Of course tho bank will get a real es tato mortgage from this farmer too and It will bo deposited for more cur rency to loan to tho third farmer. Under Biich a law how many times would it bo possiblo for a bank to draw interest on ono original loan and how long can tho real estato owners afford to pay all tho interest on all tho Increased circulation need ed? If such legislation passes it will havo tho immedlato offect of placing tho bunion of nil Interest paying upon that class of peoplo who aro In hard strnlts for money nnd aro thoreforo least ablo to pay interest. Hut Mr. Somouody says that thoro will bo lots of monoy in circulation and ovory ono can pay his dobts and times will bo good. Yes, I seo. Supposo you owo ono thousnnd dollars. Today owing to n scarcity of money you enn't bor row probably ts much as a thousand dollars on three thousand dollars' -worth of renl estato; but undor this now bill you could readily borrow ono thousand dollars and cancel your Personal Notes. L. R. ROBERTSON, manager of the local telephone line, is in Coquille today working on tho company's telephono lines. A. J. SHERWOOD, the well known and popular president of tho First National Bank of Coquille, was a Marshfleld business visitor today. MRS. S. A. YOAKUM, Coos Bay's dalrywoman, returned on. today's Breakwater from Corvallis where she has been attending tho special winter dairying school of the Or egon Stato Agricultural college. TOM JAMES, the well known and popular North Bend wharfinger, left on the Alliance this morning for Portland where ho will re main on business for a week. Warren Painter will shoulder Tom's responsibility in tho ware house. ,' t Y ' AT THE HOTELS t t t QUICK DELIVERY debt, at the same time creating a new one with from sixty to eighty dollars added to it for each and every year of deferred payment. Tho very best we can say for such legislation Is that it will only defer tho time for final settlement, and while It is de ferring it, it is just as busy adding interest that will have to be paid at tho final payment. This interest in some cases may amount to from one fourth to one-half the original debt when that final day comes. It is absolute ignorance to believe that the farmers, small business men, and small real estate owners who are un able to meet their obligations today can meet them In a few years from now and in the mean time pay all the interest on allelic additional cur rency needed to carry on the business of this great country. There is no going around the fact that these are the classes of people who will have to pay tho Interest because they are the people who need the money and who will have to put up the mortgages and therefore pay the Interest. The farmer who is in debt and who has to mortgage his farm In order to defer payment can plainly see the loss of his farm when the final day comes with twenty-five to fifty per cent more added to the original debt. Some will pull through but it is un deniable that a large per cent will not. Then we will see the centraliza tion of Wealth again marching on un impeded. The banker, who is tho second party to this proposed bill, will not need any consideration from me in this discussion. He will bo able to take care of himself with his double and thrlble interest on each loan. We have no kick on our local bank- ors whatever In this matter, nor in tho past money stringency. They are not responsible and In some instances have lost heavily, oven to a greater extent than all their depositors to gether. They are to bo commended for their sagacity and beneficence and lastly but not least they are to be congratulated on their acquisition of the services of tho financo committee of our government. The farmer and small business man will recelvo a second hand congratulation when tho iron clad mortgage changes hands. As soon as tho farmer and small business man arouse from their slum bers they wonder "where are our friends in Congress?" They don't hear any noiso from their friends about this bill, though tho dally pa pers havo carried nows of It to most overy small office in tho country. When this bill passes and becomes a law and tho peoplo who aro burdened raise a howl this same farmer and small business man will try to ox cuso the silence of their friend In Congress with tho statement that "Ho was not in attendance." Then for once the fnrmer and small business man will havo spoken tho truth, tho wholo truth, nnd nothing but tho truth, and still tho truth so expressed will mean much moro than tho speak er Intended. What Is my remedy? Tho time for taking other people's remedies Is most a thing of tho pnst. Tho llmo for permitting some ono else to think for you is gone nnd the tlmo Is hero when wo must each study for himself tho laws and economics Undor which tho, wholo peoplo will dorivo tho greatest good out of Hits life. Then, nnd not be fore, will wo bo justly entitled to voto our sentiments. A FARMER. The hotel offices of Marshfleld took on their usual metropolitan air this morning, occasioned by the arrival of tho Breakwater. .The office of the Blanco hostelry on Front street was especially busy, tho long line of now arrivals awaiting turns at the regis ter book resembling nothing so much as a run on an insolvent bank. Clerk Warner put in a busy hour answering all sorts of questions about all sorts of things, with that atfablo defer ential manner, tho secret of which is known only to men of his profession. Following is a list of guests at the hotels: Central C. J. Werley, J. H. Sny der, Myrtle Point; C. P. Smith, Dave Safley, H. M. Allen, James Ferron, O. Atwood, Portland; T. F. Salving. Blanco F. G. Laux, Bandon; C. A. Boyer, Portland; Percy Grues, Portland; W. E. Straight, Chicago; R. H. Cait, Grand Rapids, Mich.; J. II. Sheats, Portland; Bert Marlon, Portland; C. Holtz, Elma, Wash.; C. Huckensteln, Portland; Earl Schroe der, Portland; S. A. Amstead, Port laud; W. H. Barry, Portland; L. H. Hazard, Coquille; W. S. Paige, Port land; A. J. Daly, Portland; E. P. Sheldon, Portland; H. W. Ormandy, Portland; A. H. Saylers, San Fran cisco; R. Lewis, Bandon; C. A. Pierce, Portland; C. A. Marcy, Port land; W, E. Dietz, Myrtle Point. f WHAT THEY SAY X FRANK PARSONS (Parsons and Lockhart pharmacy.) "Business with us has been growing steadily for some months. We were especially pleased with tho holiday showing. Many of our lines of merchandise were entirely closed out and we could have sold almost twice the amount if we had had the goods. We have gradually been adding new lines to our drug stock to keep pace with the demands of our trade, our latest be ing cut-glass and also Teko pottery." J. A. MATSON (Magnes & Mat son.) "I should say that the Coos Bay day horizon never appeared brighter than at present. You know there is an old maxim that 'a pleas ant day break signifies a sunshiny day.' From a business standpoint the ushering in of the new year could hardly have carried more assurance of a bright and prosperous period to follow." Seaside People Aro Investing In East side. You may have read before that Eastsido is a winner, but it will do no harm to do it again, as it is an actual winner. For convenience of Call pa trons tho Laundry office will be opon Saturday evenings until 8 o'clock. Phono 571 today. Our wagon will call. COOS BAY STEAM LAUNDRY Marshfleld nnd North Bend. GET YOUR j Wood t .. FROM .. f JOHN ARLANDSON. I PHONE 1331' H - Dancing School Every Monday "And Thursday Evening at ODD FELLOWS' HALL. Prlvato Instruction from 2 till 5 p. m. DRAJLVriC CLUB Will be organized from Pupils Taking Instruction in Elocution and Dramatic Art. Special Attention to Children's Class in Dancing and Elocution, See mo at the Hall on Mondays and Thursdays; Afternoon and Evening. Trof. C. P. Smith. v4 NOTICE Notice is hereby given that tho un dersigned doing business under the firm name and title of Willoy and McCulloch, havo this day been dis solved by mutual consent. All pers ons having claims against said firm aro hereby notified to present tho same to B. F. Willey, for payment, and all debts duo said firm to be paid to said B. F. Willey. B. F. Willey having assumed all debts duo from said firm and allac counts due the same. The business of said firm will hereafter be con ducted under tho firm name of "Willey & Pennock." Dated at Marshfleld, Coos county, Oregon, this 25th day of January, 1908. B. F. WILLEY. C. W. Mc'CULLOCH BELIEVE in newspaper advertis ing a great deal moro than you be lieve in show windows your store can always havo show windows. at Your Doctor Prescribes Is just what you receive in the medicine when you bring your prescriptions to this store That means more than the drugs contained therein, It means exact accuracy in quantity of everything that goes into it; it means knowledge of how ingredients should be compounded; it means purity of the com ponent parts, All these things are part of the service this store offers its patrons, We make A Specialty of Prescriptions. And fill them exactly as the doctor writes them, That's why you should bring your prescriptions here, The results that the doctor hopes to secure are more readily obtained when his instructions are fulfilled carefuljy by the druggist as well as by the patient, Bear this in mind when you get your next prescrip tion and bring it to us and let us prove what we say here, Prescriptions called for and delivered on tele phone calls, Phone No, 451, Lockhart, Parsons Drug Co. "THE BUSY CORNER" qflutfiiflTjfW'MNqftaawi tntnnnnninnnnunnisn Ya 'They Are Off It is a Go H At theMasonicOpera House I Favor Us and Yourself I By buying your furniture here, This is the only fur niture store in the city where no second hand goods are carried and our prices are right too, A fair profit is all we ask, Anything in the furniture line to be had here, ; H-FEB Bte M hthS z 4 o The Eagle's instrel Carnival A Show For LadiesChildren and Gentlemen Directed and Stagedby J. H, Hearde Don't fail to see Lucy Long's Birthday Party t X C. A. Johnson Furniture Co. FRONT STREET Watch for novelty street parade at noon, day of srow ttttttttttttttttttttttttttttttti OLD PAPERS FOR SALE Not a Special Sale But a GASOLINE BOATS Brought Sold - Exchanged NOTICE la uoreuy givon, tJmt tliero will bo n meeting of tho stockholders of tho Coos III very Comotory association at Hall & Hall's offlco at Marshfleld on Saturday, February 1st, A. D 1908, at oloven o'clock a, m. Tho object of this meeting Is to ralso money by nssossmont, or othorwlso ns association may doom best to 1m provo said comotory by putting up n building and othorwlso beautifying tho comotory all aro requested to at tend. By order of tho presldont, J. J. CLINKINBEARD, Secrotary. If You "Want to Sell, List Your Bont "With Us. If You Want to Buy, Call and Kxainlno Our List. Wo Can Show You Just What You "Want nt tho Right Price HAVE YOU SEEN THE NEW BREECH BLOCK SPARK PLUG AT Coos Bay Oil & Supply Co. Water Front Near "A" Street f JACK FLANAGAN Phone 33 BILL LAWLOR v I Bargain Day Everyday of the Year. - - - Our spring lines of IIATS, SHOES. MEN'S CLOTHING, and all lines of GENTS PURNIsniNGS aro arriving dally. We never had a larger or bettor line of IIATS thai this year, In fact In each line we are stronger than ever before. The BAZAR "The House of Quality" Between Front nnd Broadway on 0 Street. 2 A .