Keep Wampum Sound D IS H E S Ji lust arrived. Good Prices. Good Quality. Com e in and look them over. Also CONGOLEUM 9x12 for $17.00 RUGS HILL & <S. V arious M eaning* o f C redit— T h e W ay C haracter Beget* C on fid en ce and O pens the W ay to Trust— T h rift and H o n esty th e B asis o f B an kin g. The secret of why some men can readily obtain credit, while others are unable to borrow a cent, is disclosed in the present article prepared by the Committee on Public Education of the American Bankers Association. It tells an interesting story of how a man of forty, of good reputation and fair suc cess, was nonplussed by his inability to borrow and had to pass up a good opportunity. Banka are said to deal In credit The word "credit” has various mean- ins*. When you deposit money, your account receive* “credit" for that amount When a man borrow* money on hl* not* nt the hank, he 1* granted "cred it" When a railroad, a manu facturing concern, a town, or a gov ernm ent issues bonds. It use* It* “c re d it” When anyone buy* good* without paying cash, at the time of purchase, “credit" la granted. W ith out credit, our present day business system could not exist Credit 1* possible only where peo ple have confidence In each other, and confidence can exist only where good character exists. Every success ful business man look* upon h l* credit standing a* a most valuable asset, aad he maintain* It by square dealing. To get credit a man must pay h l* debts, or It soon becomes known he Is not of good character and not worthy of confidence. Those from whom he would buy refuse to trust him and the banks decline to grant him credit Then comg business (allure and a long uphill fight to get on h l* feet again and Uve down the past More Than Honesty Needed *80 from the hank, and paying It off out cf savings. When ts Shun Debt There are circumstances, however, under which on* should never borrow money. Never Incur a debt In a speo ulatlve venture. OF T H E PEOPLE W HO SPECULATE. N IN E T Y -F IV E PER CEN T LOSX. Neither should debts be Incurred to purchase plea sure-giving possessions. Such debt* are mlllstoae* around the necks of counties* families. Progressive bank* adhere to the same standards they exact of their patrons Their business method* must be beyond reproach. They ex elude business of doubtful reputation and have no part In the feverish struggle for euddeB wealth. W ell managed bank* are regarded with great respect, and hold a place of ever Increasing Importance. Some thoughtless persons criticize banks for not making loans more freely but It must be remembered that a hank’* business 1* to receive deposits as well as to grant loans, sad It is therefore the trustee of money belonging to others. It must safeguard It* depositors' funds and so control them as to be always ready to return them Intact upon demand That requires great car* In granting credits. Honesty 1* not the only factor In volved In credit For Instance, Mr. Jones, a man of forty, of exceDent morals, who ha* enjoyed a fair In come for many years, see* an oppor THE MORTALITY OF tunity to purchase a business. He . SAVINGS ACCOUNTS requires financial assistance. He calls on a banker and ask* tor the neces sary cred it The banker aska the na The Savings Banks Association ot ture of the business, what It wtu cost, Massachusetts ha* lssnad a tabulation and what Mr. Jones can command in ready money, or other resources, but made by a mutual saving* bank in an learns that he ha* no money or prop average New England town showing th a t ot the accounts opened during a erty of h l* own. I t Is clear that Mr. Jones lack* six months period, 88 to *0 per cent ability to manage h l* affairs wisely. were open at the end ot the period He ha* not had enough strength of At the end ot the next six months character to save money by adapting about 70 per cent were open. A t the expenses to Income, and therefore has and of on* year about «0 per com not proved that he could make flnan were open; nt the end of 18 months elal progress. Moreover, If men do about 88 per cent; at the end of three not Invest some of their own money year* about 80 per cent; and then the la the business they usually lack In figure rather steadily declined by 1 to centive and become easily discour t per cent of the original number aged. I t would be unwise for anyone each year. A t the end of ten year* to assume such a financial risk, and abont 28 per cent of the aocount* were Mr. Jones probably would fall to gat -still open. After that the changes were credit from the bank. He must give very sm alt mostly on account of death. up k it opportunity to eome one elee who has saved money. F e d e ra l Reserve Copied Banks are public servants, but that does not obligate them to serve those who are unfair In business or lack Peru ts the first country In Latin ing la the great principles underly Am erica to reoTganlsa Its banking ing success. To be known a* a care system according to Federal Reserve ful and thrifty person la the best prlnclpfie* by the enactment of the assurance that the bank will extend Federal! Reserve Act of Peru to de financial help when needed. velop I he country’s resource* along Many people think that on* should modern tines ot financing. Pern's new shun debt Uke the measles. They bankina system Is modeled after the fall to distinguish between wise and United States Federal Reserve, with unwise debt It Is wise to use credit, modlfic atlons such a* the banking that Is. go into debt to buy a home. condltt- ins sad general financial sit Such debt encourages th rift A stu nation there require. It provides tor dent may wisely borrow mosey need the cr< mtlon of a Federal Reserve ed te complete hi* education. It Is Bank In -. Peru. The directorate of this an Investment that should pay dlvl- bank ts to be composed of nine mem dends In greater «access. Another bere. t’ sree of whom are to be deelg wise use of credit Is borrowing nated by the Government and the to buy good bond*, sucb a* Liberty other stx are to be elected by the Bonds, paying *20 down, borrowing membi r banks. By S A M U E L H. B E A C H , President,. Saving* Bank Division, American Benkers Association. Although the United States Is today npon a solid gold basis, we neverthe less know of our own knowledge what Inflation means. It would take long to recall In detail the bitter experiences which this nation suffered during the Civil W ar ana the years which follow ed I t and In onr present easy condi tion we might think such c o n d i t i o n * ». H. ecash could never again arise. But with such men as Henry Ford and Thomas A. Edison talking about commodity money there la no foretelling what may happen. One of the plainest lessons taught by financial history 1* that whenever a nation Issues paper money with noth ing back of i t that nation la on the road to disaster. Look at Russia with its worthless ruble* and Germany with its worthless marks. Think of what happened In France during the years Immediately following our Revo lutionary War. The common people ot France rote In their m ight tore down the Bastlle, and made reprisal for centuries of kingly crime and oppression. The profligate court had piled up taxes un til they were unbearable. The en raged populace killed King Louis X V I, and also his qneen. M art* Antoinette. But they only threw themselves out of the frying pan Into the fire so far a* finances were concerned. Unsound Money Tyranny A t the very worst point of their cur rency inflation they foand themselves under the absolute domination of Robespierre. In order to meet the growing scarcity of coin, paper money called assignats were Issued. First 400,000.000 francs worth, then 800,000,- 000 were added with the distinct un derstanding that the 1,200,000,000 would be the full extent of the Issue. This pledge was soon broken and fur ther Issues brought the total up to 8,700,000,000 francs. Frightful depredation was the In evitable result; and legislation was passed making It a crime, with six yean' Imprisonment as the penalty, If any on* thonld refuse to take the pa per aasignatS at their face value. Just think ot It l A French peasant after working the entire year to produce a crop was compelled by law to accept payment for that crop In paper mon ey. which he knew to be worthless, or go to prison. I t was simply legalized robbery. When the penalty was increased to twenty years imprisonment the Inevi table climax came. The Reign of T e r ror was at Its height Robespierre was In supreme power. He suggested that more assignats be Issued and If the people did not take them the guil lotine should be the penalty. Robespierre** End This unheard ot outrage was more than the people could stand. An un known man arose on the floor of the oonventlon and denounced Robes pierre. reciting the heinous crimes he had committed, and so worked upon the feelings of the audience that Robespierre, t h e tyrant, became Robespierre, the convicted criminal Two days later he was led to the gull iotine. France had learned her flnan d a l lesson well—that money must have value back of i t The fallacy ot unsound money Is sure to confront us again. Never 1* there enough of everything for all the people. The struggle for existence Is a real struggle, and those who find themselvee in the lower strata of hu man society ere ready at any time to grasp at flat money or any of the oth er things which misguided politician* hold out to them. My whole purpose is te drive home the fact that danger lie* ahead and te urge every one to let no opportunity go by to use voice aad Influence to ward keeping the wampum of tbeae United States, as It Is today, the soundest currency in t ie world. BANKING REFLECTS BUSINESS A m e ric a n E a g le Fire Insurance Co. C. P. STAFFORD,- A gent Farmer" and (Continuad from paga 1) This is good advice. " I f you live Frauk Ganal* spent the week in Albany, trade m Albany ; if you live in some other Iowa, trade in that town." tnd at Oregou City. Hut in theta automobile days many re Davts ha* discootinusd the A l siding elsewhere find it advisable to do at least part of their buying in the bany Brownsville stage larger town. Those who go to Albany Andrew Niohollsof Lebanon has to transact business will find the firms named below ready to fill their require been sent to Iba i o sane asvlutu. ments with courtesy a n i fairntss ______________________ _ _ _ _ _ Mrs. Esther Rike bss gone to A lb an y Bakery, 321 Lyon street, Albauy to keep bouse for Mrs. Best one-pound loaf of bread made. Foster. "The Am erican banker's m arket 1. / « i u ‘ Necessity fo r Foreign Credits w U d .a ^ k o ’ Ramsey, who drove the stage in the fatal collision near Shedd, Orders Abed is out of ja il under $1000 bail. O ftic T A Ibany Floral Co. carefully for everywhere or any time. Flower», wire anywhere i n V . h o eC in ada, Flow er phone 4589. Miss Audrey Minnville, who A L B A N Y G A RAGE. “ Stüde- mer school at b a ite r" and " S t a r " automobile!. week-end guest borne. General repairing aad supplie». lue Bird Restaurant. B Alfred Steinhauer atid wife of 309 Ly Greenleaf, the latter W illiatn o n street K at h here e re w k on Eat when in A l W h e elet’a g ra n d d a u g h te r, visaed bany. Upen from b to 2 and 5 to 8. _______ B r u n s w i c k The Oregon National Guard fur nishes regulation m ilitary teuts. which are already being set tip at Fish Lake, for the Boy Scouts’ l^ a s tb u r n Bros.— Tw o big grocery encampment, which opens July 30. PHO NO G RAPHS *t W O O D W O R T H 'S »tores, 2X2 W. First aad 225 South Mam. Good merchandise St the right -prices. ü lo o d ’e dry goods store is the la st A place in Albany to buy dry goods, luruisbings and notiena. Service is oar motto. EVirtuiiller Fornitura Co., furtti- M M , R Frtim ’s new warehouse, as big aa before the fire, is ready fur the big hay crop, and a new baler, just off a freight train, stood between it and the depot staring at it over a week. John Duncan of Shedd, whose serious illuess was mentioned in Rsiterprise last week, died Wednes day but the news did not reach the this office until the paper had gone to press He was 78 years old. J. E. and C- C. Duncan of Shedd are his sons. D. R. I . Michener, once a Brownsville schoolteacher, and hie wife, formerly Lennie Ratneay, with their daughter Mildred, have been here from their home at M ul vane, Kansas, visiting at Amoe Ramsay's. K. H Porter of Portland was attending to business In this vialn- ity the first of the week. He has purchased a fine new home in Rose City park in Portland and with his family expeols to move in the last of this week, We are thankful to friends who send in little social items like this, but (his one came in last week af ter the Enterprise had been p rint ed : Mr. and M ’ »- W. H- Beene tnd snn Allen spent Sunday at'tlie Pearl True home. There has been a change in the Sunday mail service at the Hslaey postoffice. No mail goes out Sun Chinaware and gift shop days except on the north-hound Albany 330 Weat Pirat 11.37 train. The postofficn will be T IM S O N T H E SH O E DOCTOR epen only from 10:50 Io 11 a. m. Second street opposite Ham ilton's and from 12:15 to 12:80 p. tu. s. 8. G IL B E R T & SON S store. " Sudden Service.” R, K. McGuire, 50. of Portland, and Harold Gray, 18, of Lncomb. aldo Anderson A S o n . d is t r ib were killed Friday at the H am utors and dealers for M axw ell, Chal mond lumber company’s work* at mers, Essen. Hudson A liup iaob ile cars. Accessories. Supnltes. 1st A Brosds'bm. M ill City by a heavy donkey en gine, which was being moved, when a cable broke and let it run over them. W The U N IV E R S IT Y of O R E G O N contains: . . The county Red Cross handlod the cases of 45 ex-service men and 33 civilians in June. Disburse that cost less per month of wear ments were $80 00, of which <60 went for ex-service men, <7.35 for civilians and $12.71 for expenses. Miss Edith Forrest, the efficient executive, leave* Ssturdav for a. F U R N IT U R E A N D FA R M M A C H IN E R Y month's vacation aud Mra. A . C. Hayman substitutes for her. SHOE SERVICE The College of Literature. Science and the A r t* with 22 departments The professional schools of A rchi tecture and Allied A rts— Business Administration—Education—Grad uate Study— Journalism — L a w - Medicine— Music— Physical Edu cation— Sociology— Extension. Shoes For a eatoloiu* or on]) mformotton u/nU TE* R*iutror. Unroorritp of Ort^on. Euftn*. Or*fon bought sold and exchanged at all times New and used rw 4M A Year Opm Sep«»«*" 25.1923 Modern Barber Shop Laundry sent Tuesdays Last T hursday there was thun der and lightning, with hailatonee Pbone 7b-R, 12.3 N. Broadalbin sL, Albany aa large aa English walnuts, at Fish Lake. Tries had all their leave* beaten off by the down,iour in some places. But that's tame. Over at Bend they got hailstones that weighed a pound apiece. A We are m aking five-year loans on greenhouse lo»t 11500 worth of Linn county farms at ,5X% plus commis glass and much other damage was sion , Call on don«. R b a m La n o C o ., B E N T. S U D T E L L FARM LOANS 133 Lyon St., Albany, Ore. A B E S PLACE Other Why Buffer from headache? Have vour eyes examined 8. T . FRENCH Markets Create Demand for Inter national Financial tervlea. The Idea that bankers engaged la flnanotag foreign trade aad la han O ptom etrist with dling foreign bond flotations are a par tlcular cult of 'International bankers” F M . F r e n c h Si S o n s actuated by motive* differing from J E W E L E R S - O R T IC I A N S those ot other hankers was refute! Albany, Oregon recently by Otto H Kahn of New York, la an address before the Bock IvAAAr* eater Chamber of Commerce. "There Is no snch thing as an I n ternational Banker* In America, as the meanlqg of the term Is generally The dark or cherry tone on the crystal understood.” Mr. Kahn said. "He exists frame Aak to tee the samples la the Imagination of people nil too numerous. bat he does not exist In the Efficient Service. Motor Hearse flash. You might Just as well speak Optometrists, Msnafsctnnag Optician* Lady Attendant ot tha,International Farmer’ because Albany, Oregon B ro w n an lle............................ . .Oregon itflg* Alluringly Attractive The Newport “ F a s h io n ” Frame Meade & Albro, « him Monday aud took him to A l ban; and back nt their car. Mas. B l o v h t . M* Business Men Who Bell to Foreign ----- H 9howalter of Mc is attending sum O. A. C , was a at the B. M . b ou d G. T. Hoekeustnith.— Lloyd Teispleton. “ • ture, rug*. linoleum, stores ranges. "In saying this, I do not mean te Funeral directora 427 433 west First Imply that there is anytbing that call! Street, Albany, Oregoa. for apology In the floating of forelgr loan* In America and In the loanln, lpilius developed and printed. of American funds to Europe, provid A We m ail them right back to you. ed such loans are considered sound at Woodworth Drug Company, Albany, O r to security and are made for leglti egon. mate, constructive purposes. Indeed LTolman & Jackson— Everything such loans ought to. and I believe will AA for to u r table txceot the linen be made in Increasing measure, when Highest quality and prices reasonable. condition* In Europe will have become Huone 43 Opposite l ’oatofiice such as to warrant It. en and money are best when " It Is manifest that the promotion busy. Make your dollars work in of o -r export trade. Including, nl courie, the export of farm product* our savings départaient. A l s a n v S t a t e requires us, under the circumstance! B a n k . Under government supervision a* they now are and are likely to iller Motor Sale* remain for some time, to aid the pur Oakland and Jewett cars chasing power of other nations by ex Supplies and accessories tending to them financial facilities tc First and Baker Sts. Albany, Oregon a reasonable extent. orton & Speer Service Com- " It Is the function ot the banker to pauy he Instrumental In carrying out sucb Headquarter* for good tires transactiona. In doing so, be ts ths First and Lyon means of serving a useful national Phone 65 purpose. Just as he served a useful. oscoe ames hardware Indeed a highly Important national the purpose, Jn being the means of attract W IN C H E S T E R S T O K E log and bringing European capital to 322 W . First s t America In former yeara when condi ood- tions were reversed and such capita) Cpccinlizad shoe repuiring. Go- sewiug White's year welt aole sewing Whi was nothing less than vital to the de velopment of thia country and the Shoe Repair Service. Opposite Hotel Albany. realization of its opportunities." U n ivERsiTYof O regon Jots and3'i,lles ^ b a n y j^ re c to ry tz w w ta s aebu* 1 111* X 4 » success i Is » con . the m P homo m w arket ditioned upon the capacity and will Ingneas ot the American Investor to absorb the securities wnich he offers Hie very existence depends upon the confidence and co-operation of the public aud ot his fellow bankers—and any banker whose activities would Justly create the Impression that he was actuated by cosmopolitan rathei than by American Interest* would very soon lose that confidence and following. “The business which he does for hie own account In. with, or for Europe la Inconsiderable as compared to the bustness'be does In America. Hts prln clpsl functions In relation to Europe are to provide the requisite bankina facilities (or export and Import and for travelers. That part of his tune lions which consists In financing loam of foreign government* or Industrie! ha* hitherto been, with sporadic ex eeptlon*. of relatively Inconslderaob proportions as compared to the vast Dess of the volume of his transaction! In finanedng American industry, oom mere« and enterprise. Dyeing, Cleaning and Pressing "International Mr. ami Mrs. H w Chance and M r . and Mrs. Alfred W right and soif Glenn and grandson Harry son J lomer of Portland spent the visited at the Henry Bateman week end at the J. W. Moore home home 16 Brownsville Sunday. in tb .¡a city. of hl* crop* to Europe, or of the ‘la- ternatioaal Manufacturer.' "The banker maintain*, and can maintain. International contact, and eonduet International basine**, only te the extent that American Industry, commerce and agriculture are Inter national. True, the banker muat take within hl* purview continuously the conditions of affairs and the current of things throughout the world, hut so must the exporter end Importer, and so must the fanner take Into ao count the prices end tendencies of the world market la Liverpool. Banking Mostly Home Business DELBERT STARR Funeral Director and Li censed Embalmer Five sisters who had not been together At one time for forty- three years met st the home of one of them, Mrs. A K Randall, 727 Madison street, yesterdav noon. They are daughters of Rev, anti Mr»- 8. T. M iller, pioneers, who lived near Scio They are Mrs. lohn M iller of Halaey, Mrs. J. C. Hudson of Pullman, Wash., Mra. Sarah Gnmher of Albany, Mra. Fannie Buchner of Salem and Mra. Randall. Tb* fallowing friend* and relatives were invited ; Mr. Randall. Miss Daisy Bschner of Albany. M r. and Mrs. Robert M iller and daughter of Harrisburg and Rev. and Mrs. J. G. Kpencer and daughter of Florence, — A l bany Herald, July 12. Monday Mrs. O. M. Larkins, 23, an Albany bride of three weeks, drove her auto upon the railroad track in that city and a train hit and wrecked it and her right thigh and left knee were