MEDFOTID MAIL TRIBUNE, MEDFORD, OREGON, FRIDAY, DECEMBER 30, 1932.
PAGE TEN
BANKING SYSTEM
FAULTS EXPOSED
nv rpfiMi
Idea That Recovery of Agri
culture Must Pace Gene
ral Upturn Declared False
Four-Ply Plan Is Drawn
PALO ALTO. Cel., Dec. 30. (AP)
Alleged fallacies and shortcomings of
t,he American agricultural and bank-;
lng system were singled out and pa-
raded before the Pacific Coast eco-1
nomlc conference hero today by scl-;
enlists who dealt roughly with some
long entrenched ideas in both fields.
Dr. Joseph 3. Davis of Stanford
university, organizer of the economic
division of the federal farm board,
asserted that the Idea that agricul
tural recovery must percede general
recovery was a fallacy.
Drastic revision of the current
practices of banking was suggested
by Prof. O. K. Burrell of the Uni
versity of Oregon in an address that
drew frequent applause from the as
sembled economists of far western
universities.
Would Kediice Unemployment
Burrell proposed the elimination of
long term credits by banks and the
limitation of capital expansion to
savings and suggested tthat current j
production of consumers' goods
should be geared to consumptive re
quirements. These factors, he sug
gested, might In the long run sub
stantially reduce or eliminate un
employment and "accomplish in ei- j
fective and automatic fashion the
major objective of so-called national
planning. 1
A four-fold plan for reorganization
of the country's banking system was
proposed by Burrell as follows;
1. All banking be brought under
the regulation and authority ot the
federal government.
2. There should be complete sepa
aration of commercial and savings
banks.
3. Branch banking should be per
mitted without qualification and
without restriction.
4. The present federal reserve ma
chinery should be maintained to
serve the commercial banks. As soon
as possible the long term credit ele
ment should be eliminated and the
federal reserve system restored to Its
original purpose that of assisting
banks to function effectively as a
medium by which goods and services
are exchanged for goods and serv
ices. Boom Prevention Plan
Prof. P. W. Clover of Washington
State college suggested "boom pre
vention" measures such as the issu
ing of weekly "gloom statements" and
federal control of credit. He also
discussed a suggestion for unemploy
ment relief by the formation of a
"peace time" army in which the Job
less would enlist, receive a measure
of military training and get small
pay from the government.
"The return of normal business
and normal employment conditions,"
said Professor Clower, wlll come
Wihen social action or the pressure of
economlo necessity forces a proper
balance between prices and costs
which are stubbornly and artificially
maintained and those which have
been reduced."
Asserting the farm problem was
"bedeviled by delusions," Dr. Davis
attacked the belief that agriculture
Is fundamental.
"Pood," he said, "is essential, but
not all food, and food as a whole is
less Important than of old."
Dr. Davis also pounced upon the
Idea that farm prices have suffered
more than others. He said the Idea
of great disparity was based on a
comparison of present quotations
with pre-war Indexes.
HEW YEAR BALL AT
LPT.
Central Point Grange will hold a
New Year's dance Saturday evening,
December 31, with music by the
Jones -Leaverton orchestra. There will
be the usual merry-making that goes
with celebrating of the New Year.
The beautiful quilt made by the
ladles of the Home Economics club
will be on display.
There will be n general door admis
sion and refreshments for any desir
ing them.
This will be the best dance of the
year. All those wishing to have an
enjoyable evening and welcome the
New Yenr, are invited to attend.
IN CITY HALL ROOM
Through the courtesy of the city
administration a room on the ground
floor of the city hall, Fifth and
Central, has been secured for the
school of Americanism which will
open January 8 at 1:30 p. m., this
change being necessary due to the
library staff needing the small room
for Its use.
A cordial invitation Is extended to
all foreigners to avail themselves of
this opportunity to learn of our gov
ernment. All material is furnished
free and thcro is no charge for in-
s truction.
KMED
Broadcast Schedule
Saturday.
8:00 Breakfast Bradcast of News,
Mall Tribune.
8:05 Musical Clock.
8:15 A peerless Parade.
8:30 Shopping Guide.
9:00 Friendship Circle.
9 :30 Today.
9 :45 Shoppers' Tour.
10:00 Weather Forecast.
10:00 Schubert's Love Songs.
10:30 Morning Melody.
11:00 Quartettes Parade.
11:15 Memories.
11:30 Song and Comedy.
12:00 Mid-day Review.
12:15 Popular Vocalists.
12:30 News Plashes, Mall Tribune.
12:30 Calendar Talk.
12:45 Martial Melody.
1:00 Dreaming the Waltz Away.
2 :00 Dance Matinee.
3:00 Songs for Everyday.
3:30 KMED Program Review.
3:35 Chandu Review for Past Week,
4:30 Across the Seas to Hawaii.
5:00 Silly Gilly Story.
S:15 'Popular Parade.
5:45 News Digest by Mall Tribune.
6:00 Dinner Dance Music.
7:00 Eventide.
7:30 Your Favorite Dance Bands.
QUIET CHARM AS
PLACE FOR HOI
Thia Is the story m the town of
Rogue River that la.
Cuddled up on the wrong bank of
the river, the townslte glows in the
spirit of community life, thrives from
the fertility of its soil, mixes neigh
borly acta with commercialism and
lets the rest ot the world thunder by.
And thunder by nearly all the rest
of the world does, too for beyond
the rolling rapids of the Rogue river
the great Pacific highway goes thread
ing Its way along the green skirted
mountains, a natural outlet for those
thousands of mile-mad tourists who
come up each year from the sun
baked regions farther to the south,
They go by on the wrong side of
the river, these seekers of life's pleas
antries if they want what the resi
dents of Rogue River carry In stock
contentment.
Much could be said of the little
town that lies Just beyond the white
bridge that sets like a giant mile
post Just off the shoulders of the
main highway, so far as the past Is
concerned, out few successful citi
zens or communities live In the past,
no matter how glorifying. The mute
challenge that comes from the golden
glinted days of an ore-panning past
cannot be passed without reminding
a cushion-calloused public that the
town of Rogue River did its part to
paint the western skies with romance
during those stirring days of not too
long ago.
The Rogue River of today is a community-town
blessed with things
more lasting than the trample of
stampeding feet. The town has two
things that go marching down
through the trail of civilization as
being the great factors In steadworth
iness of any community. They are
fertility of soil and natural beauty
and resources. Stretching out toward
its big sister, Grants Pass, that sec
tion of the valley of Rogue liver that
the town and community of Rogue
River claims as Its own are acres and
acres upon which the Oregon sun and
the Oregon mists do not interchange
for naught. Fruits- and vegetables
with a flavor of their own grow in
abundance, if the thousands of tour
ists who go north and return south
ward only knew, perhaps, well this
story should not attempt to com
merclallze the fortunes of such i
community.
From a scenic point of view, that
blending of emotions that comes
only with the things of nature, the
community of Rogue River has all
that the pavement-Jarred souls long
for. The mighty tumbling river,
where big fish leap and the little
ones get hooked, lies at the end of
the streets.
Back in the tree-covered mountain
sides the evasive deer awaits the com
ing of night for a chance to slip
down into the outskirts of the conv
munlty to nibble at the gardens.
There Is mtich that could be said
about Rogue River and Its citizenry,
D. L. Whitehurst in Grants Pass
Courier.
Spokane Crop Loan
Agency Is Removed
SPOKANE, Dec. 30 (AP) The SpO
knne regional crop production loan
agency was closed today and records
will be shipped immediately to Min
neapolis, where the office will be
consolidated with the bureau In that
city. The Minneapolis office will han
dle the crop loan collections from
Wisconsin east to the Pacific coast.
Oldest Native Son
Dies In Hillsboro
HILLSBORO. Ore., Dec. 30. (AP)
Francis M. Kolsey, 88, reputed to be
Oregon's oldest native son. was burled
here today. He was born on the site
of Hlllsboro on January 16, 1845. and
died here Tuesday. The site of the
Washington county courthouse was
donated by his father, Islah Kelsey,
from the Kelsoy donntlon land claim.
Fender and body repairing. Prices
right. Brill Sheet Metal Works.
Bronchial Troubles
Need Creomulsion
Bronchial troubles may Ied to some
thing serious. You can stop them now
with Creomulsion, an emulsified creosote
that is pleasant to take. Creomulsion is a
new medical discovery with two-fold ac
tion; ii soothes and heals the inflamed
membranes and inhibits perm growth.
Of all known (fnins, creosote is recog
nized hy high medical authorities as one
of the greatest healing" agencies for per
sistent coughs and colds and other forms
of throat troubles, Creomulsion contains,
in addition to creosote, other healing ele
ments which soothe and heal the infected
membranes and stop the irrital ion and in
flammation, while the creosote poes on to
the stomach, is ahsnrbed into the blood,
attacks the seat of the trouble and checks
the growth of'the germs.
Creomulsion is guaranteed satisfactory
in the treatment of persistent coughs and
colds, bronchial asthma, bronchitis and
other forms cf respiratory diseases, and
is excellent for building up the nvntem
after colds or flu. Mmey refunded if anv
couphorcold.no mr tier of how lonpstand
inp, is not relieved sftcr takingaccording
todircclions. Askour druggist, (Adv.)
y v ' ' "
I Rayon Underwear
January Clearance of women's and misses' fine
rayon underwear consisting of shorts, steplns, and
I combinations. A super special for Saturday at
Mann's.
Va.lufls
to $1.25 ror
for 49.
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Kiddies' Wool Sweaters
January Clearance of kiddles' all wool sweaters.
These come In both slip -on and coat styles, long
and short Bleeves. Good color selection but broken
sizes. Infants to 6 years.
Values
to $1.98 ror
for 89.
NO REFUNDS OR EXCHANGES
The Ready to Wear
Sale You've Been Waiting for
Five minutes after this store opens Saturday morning, the second floor will become just one
wonderful bargain opportunity after another. Now that we've inaugurated our January
Clearance of ready to wear no matter what you want from a single little wash frock to a
beautiful fur trimmed coat, now is the time to get it at very admirable savings. Of course
you know that no matter how low our prices we maintain our high standard of quality.
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Clearance of Jewelry
The January Clearance always offers many out
standing bargains among the best are these
beautiful pieces of costume Jewelry earrings,
bracelets and necklaces in both sport and dress
styles.
YOUR
CHOICE
69.
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January Coat Clearance
$7.
$io.
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January Clearance sale of 15 lovely fur trimmed winter
coats for only (7.00. These are regular $10.96 values
and come in rich black, brown, gray and mixtures. Coats
for sports or dress wear, coats that are lined and inter
lined and trimmed with good quality furs. Sizes 14
to 42.
January Coat Clearance
January Clearance sale of 55 beautiful all wool coats at
$10.00 each. In this assortment arc coats trimmed with
genuine furs and lined and Interlined with the very
finest linings. These are regular $19.75 values and
come In sizes 14 to 40. The best coat value In Southern
Oregon.
Hand Bag Clearance January Coat Clearance
ranuary Clearance sale of women's fine quality : J
January Clearance sale of Prlntzesa and Betty Rose
coats for the sensational price of $15.00. Every one of
these lovely garments are trimmed with real furs and
lined with two season silk linings. Just 30 In this lot
so come early. The regular values are up to $49.50.
The sizes 14 to 42.
The Great Dress Sale .
Dresses at HALF PRICE and LESS
January Clearance of 50 smart
winter rtrefwes for onlv 82.95 each.
In this lot are wools, chulla crepes
and combinations In plain shades,
prints, stripes and plaids. Long
and short slcrv??. Values to $6.95
January Clearance sale of printed silk dresses, black
satin and heavy crepes in street, afternoon and evening
styles. One, two, and three piece models In sizes for
both miss and matron. Many of these dresses have sold
up to $27.50 each.
1 H
A
January Clearance sale of women's fine quality
hand bags in genuine grained leather, dull calf,
tweed, grain, morocco, pin grain and suede. Metal
and marcasslte trimmings, silk linings.
Values
to $4.95
for $1.95
$ 1 K
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CI
earance
of Gl
oves
January Clearance sale of our regular $3.95 and
$4.95 dress gloves. Gloves of washable cape skin
and Imported French kid. Plain 4-button gauntlet
and chic novelty cuff styles,
Regular
$3.95 and $4.95 XQX
$1.95
$295
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1 Sale of Lisle Mesh Hose I
1 January Clearance of women's and misses' finest
quality lisle mesh hose for only 39c pair. In this
group are plain meshes, tan and pastel shades
In full fashioned styles. A real hosiery bargain,
Values
to $1.95
for 39.
I 36-in. Wulletta Crepes
January Clearance sale of beautiful 36 -Inch wul- I
letta crepe at 49c yard. This lovely material comes 5
In checks, stripes and diagonals and is a regular
79c value. Many desirable shades to select from. I
i cSrL 49c yd. !
-ir W
MIIM $7.95
January Clearance sale of 100 smart fall and
winter dresses In silk and wool, street, afternoon
and evening styles in the leading shades of the
season. In this group are frocks in sizes 14 to 20
and 38 to 42; also dresscB in the wanted half
sizes. Real $19.75 values.
$13.50
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81x99inch Sheets 1
January Clearance sals of these fine quality
I 81x99 Inch sonmless bed sheet for only 49c each.
I A long life dressing free sheet at a baigaln price.
I $. for 49c I
j Pillow Cases to match, 25c pair !
24x48-in. Rag Rugs
I January Clearance sale of rag rugs. A splendid
extra rug In checked or hit and miss patterns.
1 Ends are fringed and rues are strongly stitched
I to prevent raveling. 24x48 inches In size.
Values up f OA
to 69c tor jy
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JACKETS
January Clearance sale of wom
en's and misses' fur fabrto
Jackets in t!ack, brown, and
tan shades. These are regular
$14.75 values. Special
$500
January Clearance sale of this season's finest
rough crepo dresses in Jacket and one-piece
styles.. Dresses that show every new style
touch and in every new winter shade. Half
and regular sizes from 14 to 42, and 14 to
28!. TheBe aro $27.50 values.
$18.00
Charges Made Tomorrow Go On
Your January Statement
I All Our Better I
I COATS
I Greatly Eeduced
Children's
DRESSES
Half Price
January Clearance sale of
children's winter dresses.
These are marked half price
for thia sale and consist of
silks and wool Jerseys. Good
range of sizes.
$5.95 Dresses $2.88
$4.95 Dresses $2.48
$3.50 Dresses $1.75
$1.95 Dresses 98c
$1.75 Dresses 88c
SECOND FLOOR
Men's Overcoats
January Clearance sale of men's and young men's
all wool overcoats and top coats In rich tans,
browns and grays. Sizes are 35, 30, 37, 38. 39 and
42. A real opportunity to buy a fine new cost
$14.95 to (HQ Q,
$24.50 Values & ? .7 J
Men's Wool Blazers
January Clearance sale of all wool blazers In both j
light and heavy weight. These have the large
shawl collar and clastic waist band. Many are
guaranteed water proof. Sizes are from 36 to 42.
Values
to $4.95
January Clearance
of Felt and Winter Fabric
HATS
and $2-
Regular Values Up to $10. Each
In till January Hat clearance are turbans, eye dips, wind blown
and sailor models In felts, velvet, wool crepes and hatter's plush.
Black, brown, blue and wine, (2nd floor.)
SCARF SETS $1.00 SET
for $1.95
Mail Orders
Promptly
Filled
Medford's Own Store
Home of
Butterick
Patterns
Bl
ouses
! January Clearance of iotiu
wtoi and all-over embroS
I 5,'0UM or only 50c
5 These are In broken size, ,
I slightly soiled, but cveryoul
marvelous bargnln.
$1.95 Value
50cea.
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I Sweaters
5 January clearance sale of co.
en's and misses' all wool shite,
sweaters. These are In black
navy, tan and red. sizes 34 to
40. Just a few left so hurrj,
I $5.95 Value
I $1.95
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Skirts
January Clearance sale of our
regular 2.05 all wool sklrto.
These come In several styles.
26 to 32 In waist, colors are
navy, brown, wine and green.
Your choice tomorrow
$2,95 Values
$1.95
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j House Frock
January Clearance of women1!
fine quality house frocks (or
I only 50c each. These ar 0
fast color prints In both long
I and short sleeve stylet. Ml
! sizes to select from.
69c Values
r rv
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Slippers
January Clearance sals of wom
en's and misses' bedroom slip'
pers in leatherette and long
wearing crepe. Three styles to
choose from in all black with
colored lining.
: $1.25 Values
95
pr.
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Rain Coats
I January Clearancs Mle !
I en' and misses' rain coats con-
I slating of Jerseys, tweeds n
! silks. These corns In B5
I range of colors and slzM.
I real January bargain. .
I Values to $9.95
I $2.95
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Knit Dresses
January Clearance ot women
and misses' knit dresses to
and two-piece styles f WW
1.95 each. Jersey chenUW
and novelty weaves of M.
brown, green, gray and wine.
Sizes 14 to 20.
Values to $4.95
$1,95
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I Knit Suits
! January Cleararowomert
I knit suits. T1'!Mhl,.7 brunt
green, wine. nM from
S blue and brown. Slz ,re
I li toM. Extra special
! $6.95 Values
I .4;3.95
I '