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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Jan. 15, 1904)
THE r OHEOOX DAILY JOUItSTAlV .TOBTTjAJHV FBI PAY .. EYESTINQ, JANUARY 1 5. 1904. ADVICE TO STOCKMEN 8 . - i . TW If AF A Wl P I? ( A n r? ON BEEF Benjamin L Cohen on the Need of an Elas- tic Currency Benjamin I. Cohen, president . of the Portland Trust company of Oregon, ad dressed the invention on,';fhe Stock men' Need of an Elastic Currency,! He . said tn cart:- - "It a man In Jocks6nvIlle, Flai:;'' should , contemplate a leisurely trip to Boieraan, for hunting: and shooting, and should in preparation therefor, array himself in a . thin suit of summer garments upon the first day of December of any year, and then: taking a palm leaf fan in one hand and his gun in the other, should start upon his Journey wlthoutany other bag gage, he would be about as well prepared to endure the vicissitudes of the season ; and- the changes of climate-which he i would encounter, as is our present cur reney system prepared to . endure the changing . temperatures 1 of. the; trade winds. And thejrarlatloris of strain upon It consequent upon the increase and de crease In the volume of trade, and the fluctuating effects of panics and periods , of depression. General stock of Money. , 'The general1 stock of money in the Vnlted Sutes on September 1. 1903, was 12,768.693.662. Some of the ablest bank ers In the United States,, have declared that this is a sufficient stock for our needs. It Is perhaps true that if this 'Stock of money were available' at any time In any quantity, and at any part of our country, the aggregate might be suf ficient for our needs; but, as a matter of fact we all know that there are frequent occasions when onetart of our country may t be gorged with money, while an other part, is suffering a money fam . ' ine, . ... i.:t i. .The Scientific Plan. "As to the scientifically devised sys tem for an elastic currency. "Various solutions of this problem have been tried,' and have worked sue- ssfully In other countries, and I can not but believe that the American peo ple:, which claims to be perhaps the most intelligent in the world. Is capable of being educated up to a point where, a credit currency can be Introduced and its use gradually extended. Such a currency would expand and contract au tomatically. It Is In use in, Scotland, In Germany, in Canada and In other parts of the world. Our closest neighbor, Can ada, has - a most successful system of credit currency. The Canadian plan is : briefly as follows; .,; f-r.;-;--- ', Bow St Work! la Canada. : "A bank may be formed with a capital of not less than 1600,000. As soon as the sum of $500,000 shall have been sub scribed, and not less than $250,000 there of has been paid to , the minister , of finance and receiver general, the prellml- nary organisation - of the bank . can , be nroceeded with.- . "After' the -bank Is Wfull running or der, the bank may issue and reissue notes of not less than $6 each, payable to bearer, on demand, and Intended for clr . culatlon", but the total amount of such , notes in circulation at any time shall not exceed the amount of the unimpaired paid -up capital of the bank. "These notes shall be a first charge or lien upon the assets of the bank In case of Its lnsolyency, and the payment of any, amount due, to the government of Canada shall be a second charge upon such assets. "Each bank shall deposit , with " the minister of finance and receiver-general a sum of money equal to two. and a half per cent of the average amount of Its notes in circulation during the 12 months next preceding the coming into force of the act; and then, 16 days after the first day of July in each year, such fur ther sum of money as is necessary to make the 'total amount so paid by each bank to be a sum equal to Ave per cent of ths average amount of its notes In circulation during the 12 months preced ing the dates last mentioned, A. Wots:asenUMsat'ar;,";?t"' '; "And this sum of five per cent of the notes outstanding shall be adjusted from time to time so as to be kept Intact All notes so. Issued shall be redeemable at ; par, at any office. or agency of the bank, in the colony, or possession, in which they are issued for circulation; and In the event of the failure of the bank to redeem Its notes, either from Insolvency or any other cause, they are to be re deemed from the Ave per cent fund so held-by the minister of finance and receiver-general, without regard to the oures from which the five per cent fund was derived. "In other words, all the banks in Can ada are required to keep a five per cent ieserv fund with the minister of finance or receiver-general, and if one bank be comes insolvent and its notes are not re deemed within two months, they 'are to be redeemed .from said fund in full, and all accounts recovered snd received by Jhe minister of finance and receiver-general from the bank on whose account such payment Is made, shall, after the amount of the excess of its proportion of , the five per cent fund has been made good, be distributed among the other banks contributing to make good the ex cess, pro rata to the amount contributed ' by each. . . Zt Mores Smoothly. "This, Canadian law, as briefly out lined, has worked well. There are In Canada some 86 banks which have large numbers of branches, and it has been objected to the inauguration of " system In the United States that It Would only work well under the branch bank system, which system is' repugnant to the genius of our people. , , The Small Banks. It is true, that in the United States we have a large number of small banks, and to give to each and all of them the power of issuing notes based upon their credit might be dangerous; but if this l ight ' were limited to banks having a certain amount of paid up, unimpaired capiial, and wera denied to petty instltu-i lions, it Hcems to me that the plan would work welt ; 7 . "Of course it would be difficult to fix the exact amount of capital requisite but as no Human system can be adopted that will be free from objections it is , hardly to be expected that? the small" .j banks at ths village cross road could expect to exercise all the privileges of the larger banks at the county seats. The Baltimore riaa. '1 may be perhaps somewhat preju diced by love for my old home, but t bave always thought that the so-called JUltlmore plan , which was devised by the associated bankers of Baltimore, and laid before- the meeting of the Amer ican Hankers association held In that cJly on October 11. 1194, Is by far the tt system-that H? as yet been pro tvsed to give the United States an laa . tic .currency." . -, " j . L Benjamin Andrews Says Beef Will Al ways Be Firsts ; K. Beujamln Andrews, chancellor . of the University of Nebraska, , addressed the livestock .convention this afternoon on "The Supply, Of And Demand For Beef Cattle." He said in part: f Is the supply of beef cattle keeping up with the demand T In a sense, if the lee5ti!meand space areaJlowed sfor, the supply andtheemand oT'an ar- tide traded, in are always equal. :t Any cause tending to sunder them is at once annulled by its own operation. .The effect of all movements is immediately an equation at some price or other, be tween supply and demand, Strictly therefore, demand Can never for any length of time or width get away from supply. .. . .: : ..: : f Demand "Will Continue. Of beef, like any other merchandise. there will always be a supply at. some price,-- It will . never cease to be pos sible for- people who can pay the price of beef to obtain It. though of course the price might conceivably so soar that beef could be procured only by. those of ample means.. And there, will always be a demand fofiJeef.; Is the supply of beef likely to con tinue sufficient -at .present prices, or after a- little -while, , wiM lower prices rule or higher prices? The , question calls for inquiry into the possibility of r beef cattle produc tion, and into the probability of the beef cattle demand' during the years just before us. . w: . : ' v There are some causes at work tend ing to diminish the supply of beef cat tle and certain to do this unless demand increases. The free pasture area on the public ' domain" Is lessening. -' Hera Is the great argument for a public; land leasing law. Into this I do not enter; but it is clear to all that if such, a law could be devised, which would en able stock owners . to control their ranges-so-thatcare- for-the land would pay, and at the same time not hlndei honest homesteading, great and per manent good would be done. Orating Xaada Bullied. As it is, it being no one's Interest to prevent precious soli la blown away by the wind, covered with gravel by mil lions of gophers, tramped by cattle, gul lied into rivers by rains and streams and made desert by thieves stealing and cutting the trees which shelter it These things ought not-so to be. The federal ox pasture has also been invaded -by homesteading. This - process is , still rapidly going on destined to be fur thered, too, by a number of resources whose power is only Just coming to be felt ' ' , ,. Irrigation a Tactor. r 1 One of these is irrigation, public and private.. We need not go so far as somo irrigation enthusiasts to be convinced now vast an area now too dry for profit able agriculture will by and by become, good agricultural land. As much- more will ba withdrawn from pasturage a little biter by the creation of forests. This process seems to be accentuated by the growing Impossibility of obtaining sutncient timber for the needs of this great country from the sources hitherto known. There Is not a county this side of the Mississippi which might not grow Its own timber; few that might not, be sides this, grow f6r export; many, where timber - would be! the most profitable crop which could be raised. 'This profit ableness will be discovered ere long, with the result 'that artificial forests will spread over millions of acres now sandy and bare, To all these methods which ths roan with the plow is slicing oil the herder's domain we add the effect produced by afforestation and by the fuller settle ment of tillage areas bordering upon arid lands. Publlo Pastures Wot a rector Clearly, public pasturage must In no very long time cease to be an impor tant factor in raising beef, whether the apply derivable from this source has not become so small as to lose all effect upon prices in the great centers. A few years ago, I take it the Chlcaso nrice of beef cattle was fixed, usually at least by the free pasture cost of pro duction. Perhaps the considerable rise during 1892 may be accounted for by the iraoe men ror tne nrst time becoming aware that the feed cost of beef and not tne Tree pasture cost must hnc. forth rule. The production of beef cattle ia ent down by the spread of the dairy Indus try. All along east of the free pasture belt are small herders, who, a few years ago, were herders and nothing more, but -are now to a considerable extent producers of butter fat Causes of Greater "Production. We now turn to note circumntanr. tending to increase the production of beef, even supposing the demand to remain the same. A battle of the breeds is going pn, one man thinks there is no beef ox like the Aberdeen Angus; an other argues for the Hereford, whila not a few still maintain that on the whole me snortnorn is the best beef-mnbor There is equal oroaresa in hrAnriimr methods. "Hand breeding is more ami tmre practiced. As some beef farmers are eking out their profits by Drodnclno- ar Aai m an dairy farmers are learning how they may .M,oi,mSruuBi raise neeves "on the side." so to speak. Ordinary milk cows bred to beef males, the offsnrinir not seldom developing beef carcasses practically as perfect as if of pure Here- iyru uiuoa. .. .. The spead of veterlnnrv axi.nu skill will no doubt in' the course of a "w yrs enable us to keep alive and to fit for the market thousands of cattle now carried oft by disease. ' Better reeding Methods. ' Improvement is perhaos even more telling in modes of feeding stock, a given amount of food being made to go a greater way than formerly."-1 am' not to give away secrets, but may assure you that the steer Challenger, which won the beef sweepstakes , recently at Chicago, probably owed Ms victory mor to feed ing thdn to blood; which you will appre elate on being told that he was at' least one eighth Holsteln, no doubt a consld- ..mo uniraicap on mm as a fleshmaker. Jf we now compare the causes tending to ftssen production. with those tending to incresse .: beef breads, improved breeding, veterinary science and feeding, we csnoot, I think, help concluding that the forces repress ing beef production greatly outweigh those promoting this. . Jn thus endeavoring to get at the net tendency of the beef supply, we have assumed the demand for beef to be con stant or nearly so, w must now examine tijis asinumpltton. , . - population in those "couhtrles which I'' '"' ! ::-::J S ! ' irr . . 'J:.m - n a r . n ' n nnn px - :; ;i; ; ; . ;. oroWilSVIllS WOWffl Hill Wit V :;'. CORNER THIRD AND STARK .STREETS il m,:, vt v . ,,. ... .. . . -j fi II.. , draw their main supply of beef from the united States Is increasing by leaps and oounas. with no likelihood of curtail menu . ' - - - ' Oreater Demand Oertala, V , Improvement is Incessantly goipg bn In ths .quality of beef, making it more and more delightful and more and more suitable for., good: use. . A artlflclal Deermaking more and more takes the place of pasture feeding the quality will Improve. ,, ,. , The rich" as well as the -poor' are learning the exquisite dellciousness and the great food value" residing In beef "pieces of the ,cheaper, sorts, " such as shanks, aliins' and chucks. Rapid ' Im provements already visible and still to appear In cooking must also do much to make men relish beef andlseek it as an important' article of their, diet. , There are forces tending to lessen the beef supply: Among these one naturally considers, first the. prevalence . of yege tarlanlsm. Whether this theory and practice of diet will-increase or diminish Is probably for the most part matter of Individual opinion, t Bo far as I can Judge vegetarianism is not : increasing. Bsaf Will Stand WrsV; It may be feared that pork, mutton nd other forms of flesh will take the place of beef. This is not likely; first, because they are never much cheaner for any length of time., and secondly be- cause ror tne great majority of people they are less useful and less agreeaUfo as food than beef is. A review of the various forces affect ing the demand for beef thus reveals a very strong net , tendency- to Increase this demand. We hava cpnfrontlng us a strong tendency to decrease the supply of beef cattle and also an equally strong net tendencyo increase the demand for beef. From this it would appear inevi table that beef prices must in the next few years considerably advance. But let us not conclude till we arrive at a conclusion. Must not hlsrher ttrlces immediately act to obstruct the enlarge ing demand T No, not necessarily, at least for a very long time. The case Is briefly as follows: The population of me .worm is increasing Dy leaps . and bourTds. All must live oft earth products, which of course includes beef. If the product of men's toil other than hus bandry were to increase in cost as hus bandry products must, the powec on non agrioultural producers to obtain hus bandry products would fall off; but this la not the case, While husbandry prod ucts are going to be harder and harder to get. other products are as a rule des tined to be obtainable at lower and lower cost aa the years pass. The result must be that in spite of the higher cost of beef, the ability of non-agricultural pro-, duoers to' obtain beef will not aubstanti ally change. The higher prices .of beef will therefore, to all likelihood, not cut down -the demand, , but, such parts of them as can be saved from the packers. will go to the good of beef raisers.' - ' The production of beef, hence, has no dubious or cloudy, future, like deep min ing for Instance. It will have its upa and downs,, but must, Jn the long run, be like the path of 'the just, as depicted in the good book. . It Is a good occupa tion to engage in .If you are already in it, be in it to stay. And They Do It " Laundry any kind of underwear with out shrinking; sew on buttonsand mend all rents, etc.. in your laundry is a big offer, especially when done free of charge, but that's what the Oregon Laundry & Toilet , Supply Co.. on, East Oak does. That ought to get your work, A wagon will call right away if you re quest It, by phone.-'.- You can use- your neighbor's phone' if you haven't one, the laundry will pay the message fes in this case. Get all you can for your. money. But where can you beat the mending proposition free? The work Is first-class or we refund" the money. We an't stand complalntwe don't :.have any, says Manager C. F. .Corns. , vj , Journal ' friends and . render , when' traveling on trains to and from Port land, should ask news s gents for The Journal and insist upon bnlntr supplied wltlvhl paper, reporting ail failures In obtaining it to the office of publication, addresslug The Journal, Portland. Or, CANADIAN EXPERT ON CROSS-BREEDING Hon. J. R. Anderson of British Co lumbia,' deputy minister of agriculture. spoke on "Ths Evils of Cross-bred or Scrub Sires," before the livestock .as sociation today. He said in part: ' The breeding of livestock is really a science, and the better It is understood ths more, apparent does It become that selection of those animals which pos sess 'the greatest number of good points for the object for which th)ey are bred. are to be desired. The constitution of an animal being of prime Importance, those points which are laid down by competent authorities as indicative of a sound constitution should be care fully considered ' With a good constitution assured, and all other points which are the indications of good qualities well represented, I say, do not hesitate to pay any reasonable ?rice for such an animal. As to the emale, she is by no means of the same importance as the male. The progeny Is affected to a much greater degree by the Impress of the sire, than that of the.dam; many a good dairy cow ora good beef animal is produced from a cross-bred cow, provided the sire is of undoubted lineage.. Prepotency is no empty term; some sires may transmit all their qualities to their progeny, while' all will transmit at least some of their good points; but it is unreasonable to expect an animal to transmit points to its offspring which it does not Itself possess. ; Cattlemin Are Ignorant. The subject I have chosen is one that affects us to a. considerable extent In British Columbia. Until of compare- IP 1 1 WAS IN THE LADIES' T A I L O RINO 'BUSINESS INSTEAD OF TAILORING FOR MEN AND WERE TO TO MAKE SUCH 'A SAC RIFICING OFFER AS TO MAKE A $38 SUIT FOR Twenty-five Dollars THE EQUAL OF A SUIT MADE . BT ANTf FIRST CLASS TAILOR FOR 135, SELECTED FROM A CHOICE OF 200 DIFFER. ENT PATTERNS THE LATEST GOODS I WOULD BE OVERRUN WITH ORDERS. r - I AM DOING JUST THAT THING A S35 TOT -OB 25 AND IF TOU HAVE NO THOUGHT OF SAVING, ADVISE WITH TOUR WIFE. THIS , OFFER HOLDS GOOD ONLY DURING JANU ARY. I ARMSTRONG THE TAILOR 313 Washington , St. . : : : - Tailor Cloth Remnants We will clear out all small pieces of Tailor Cloth at just one-half price. (Some are 1-yd. Cuts Others 3-yd; Cuts A few are Cuts " Others just enough to make a small boy's pants, " . . Yotir Pick at -Price BLANKETS'" TO CLOSE At our store on Washington St, we offer all surplus Blankets from our Woolen Mill at less than first mill price. This will be fully 50 per cent less than retail price. All colors, all weights, all sizes." 'A REGULAR PRICE This store is on Washington Street, be tween First and Second. tlvely recent years 'the importance of oreeaing from pure bred sires -was hardly recognised. Some breeders argue that a "native scrub Is better thsn full-bred, Imported sire, inasmuch as he is accustomed to the conditions prevail ing on this aide' of the continent: others trust to luck for the services' of. their neighbors male animals,' and still others whilst recognising the desirability of pure-bred males are unwilling to pay me price lor a good animal. ' Wild Animals a- Hulsaaoe. , Included within the confines . of the province I represent are circumscribed areas whereon small bands of horses and cattle are kepi, owned by small ranchers and Indians. These latter classes are the greatest delinquents In respect to the keeping of suitable males and of a sufficient number. A class of worthless horses has Increased to such an extent as to become an Intolerable nuisance. The cattle, also under slm liar conditions, degenerate from year to year. Ana now we are confronted with the rproblem - how to -remedjr"thts state of affairs, for until the scrub males which Infest the country are gotten rid orand good animals substituted we can not hope for much Improvement, For range bulls we find that those bred under conditions similar to our own are in every respect better suited than bulls bred under what I may term artlflclal conditions. It takes a bull a long time to get sufficiently acquainted with range life to be of much practical utility and breeders in our part of the country find it to their advantage to se cure range bulls from the Northwest territories and Manitoba Another phase of 'the question is the running at large of the males' at all seasons of the year, a most reprehensl ble practice, as calves are apt to come at unseasonable periods resulting often in great loss. The. 1st or even the 15th of July is, I believe, quite soon enough to ajlow bulls at large on the ranges, and these only of the pest. ;Let me hope that the conditions have described do not prevail to the same extent on this side of the line Our experience has shown us that the evils of breeding from scrub stock are far-reaching and difficult to remedy. ' Scratch, scratch, scratch: nnnhl n attend to business durlns- the Hav n Bleep uunug urn II1KUI. jicning pues iiurnvi? uinguv. uvw mntmeni cures. Never : tans, ai any drug store, 60 cents. Our Parlors Are Being Remodeled They will be worthy of a king when the work is done. The Alba Dentists Southeast Corner of JPlrst and Morrison. '. Telephone, SCala 8796. I , j v I Overstocked, and Summer nearly here, that is the full story. We must sell all we pos sibly can before the weather gets warm. $1 1.00 for all lines priced $14, $15, $16.50, ?18 $12.50 for all lines priced $13.50, $19, $20 . $15.00 for all lines priced $21, $22, $22.50 $ 1 8.00 for the- Imported Priestly Cravenettes, regular $25 and $27.50 $20.00 for the imported Priestly Cravenettes, regular $30, $32.50 $35 , IF YOU CAN USE A COAT DO NOT OVERLOOK THIS SALE. Clearance on Suits Takes the choice of a large line of fine pure wool suits, worth between $12.50 and $25; not all sizes in each line, but all sizes in some lines. Carpenters9 Aids v The LATEST AND BEST Are always found at Avery A Co. 'a bard-, i ware stor. Cited merely as an Instance, t . here are improved mitra boxes for cut-,' ting true mitres on mouldings, etc. lots of others, but these the best; Goes wlth , out saying that - saws and hammers, ' crew drivers, screws, nails and hard ware ell have their place In this estab- ' llshment. - - r AVER.Y a CO. 82 Third Street ALL THIS WEEK " UMBRELLAS - ACTUALLY BELOW COST I JOHN ALLESINA 2M WASBINGTON STREET TWO STORES 309 MORRISON JTBEET TELEPHONE US MAIN 165 AND LET US CALL FOR YOUR ORDERS OR O I VE YOU PRICES ON PRINTINO. WE HAVE FACIUTIES FOR MAK ING GOOD PRINTINQ AT LOWEST PRICES. F. W. BALTES & CO., PRINTERS, FIRST AND OAK ST5. OUR 1904 BUSINESS CALENDAR FREE. 207 BIG AT THE Great Gigantic Sale ' 207 FIRST STREET - , ( , They are s laugh tc ring foods ' whioh are . bound to go.. . ,. f Crowds are taking advantage of this sale of high-grade, goods. This store will bs kept open Saturday evening until IX o'olook, to give an op portunity to those; who failed, to call daring the weak days. This being a un ion store closing at 0 p, m. Same prioes as quoted la previous ad. . ' O, O. SAm-ru. Xaaager. ' ' 207 Unr iimi .mi 207 1 . RUSH 207