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
.