NYSSA GATE CITY JOURNAL. THURS., OCTOBER 14, 1931
Indian Pilgrims Hail Juggernaut Festival
- ÏT --
¿
National Topics Interpreted
b y W illia m
N a t i o n a l P r « aa B u i l d i n g
W ashington.—It m ay be, as I have
frequently been told, th a t the a v e r­
age person—Mr.
F e d e ra l John Q. Public—
R eserve has very little in­
te re st in the do­
ings of the federal re serv e system .
It m ay be tru e th a t the av erag e
citizen accepts the federal reserv e
banks as a thing a p a rt and of little
or no concern to him because they
a re so fa r rem oved and, further,
because they indulge in w hat the
dem agogues used to call “high fi­
n a n c e .”
W hether m y inform ation is cor­
re c t and reg ard less of the public
concept of the federal re serv e sy s­
tem , I am devoting som e space this
w eek to a discussion of certain d e ­
velopm ents in the fed eral reserv e
banking stru c tu re in an a ttem p t to
show the trend of m oney conditions
in this country a t the m om ent.
L ately, the federal re se rv e board
of governors announced a revision
of its regulations governing dis­
counts and advances by federal r e ­
se rv e banks. Now, it m ay be said
th a t these regulations affect only the
banks th at a re m em b e rs of the re ­
se rv e system . T hat is tru e but it
is not the whole tru th because ev­
ery th in g th at the fed eral re serv e
bo ard of governors and the federal
re se rv e banks do affects you and
m e and everyone else w hether we
ore little fellows and, therefore, un­
im p o rta n t individually, or w hether
we a re tru stees of g re a t sum s of
m oney such as is the case with cor­
poratio n presidents.
The board of governors, in the
revision of its regulations, Has
m ad e it possible—if not obligatory—
for the re serv e banks to take a l­
m o st any kind of p a p er th a t is an
evidence of debt. T h at is, the re ­
se rv e banks a re now em pow ered to
re ce iv e from the m em b e r banks
th a t p a p er upon which you and I
borrow , any pap er th at shows th at a
citizen owes the bank m oney, and
to give th a t bank m oney in ex­
change for the evidence of th at d e b t
E veryone, of course, is fam iliar
w ith a note or a m ortgage on a
piece of re a l e state. Most people
u nderstand about installm ent paper
which is sim ply a note providing
for p a y m e n t of the am ount due over
a period of m onths. But there a re
m an y o th er kinds of evidence of
d e b t th a t is in frequent use am ong
business m en from the sm allest
sto rek eep er in a ru ra l village to the
g re a te s t ban k er in the world. Un­
d e r the regulations now operative
in the federal re serv e system there
se e m s to be alm ost no pap er which
the local banker cannot send to the
fe d era l re serv e bank and receive
cash in exchange. Of course, th a t
obligation m ust be paid off som e
tim e and the a rra n g e m e n t sim ply
p e rm its the federal re se rv e banks
to c a rry the debt until its m aturity.
All of this obviously sounds as
though the fe d era l re se rv e system
is a t la st to be helpful to us little
fellows. T hat is true. It is going
to be helpful in increasin g the num ­
b e r of us little fellows who get our­
selves in debt. It is going to do
th a t because it m akes getting Into
debt easier.
I think no one should object to
the re serv e board regulations in all
details. T here m ust be c red it given
w here c red it Is needed; th a t is to
say when you prohibit borrow ing
m oney you choke oil eighty-five per
cen t of all of the business done in
the U nited States. Yet, c red it is
dangerous, a double-edged sword
and m ust be handled w ith ex trem e
caution by the borrow ers as well
a s by the lenders. As we have seen
from the Inglorious debacle of 1029,
th e re can be too m uch c red it ex ­
tended, and when I say that, I re fe r
not only to loans by banks but the
sale of goods, w ares pnd m erc h an ­
d ise th a t en te r into e veryday life.
And. going a bit fu rth e r on th a t
line, th ere can be too m uch c red ­
i t extended by the m an u fa ctu re r
and jobber to re ta il m erchandising
e stab lish m en ts Just as easily as
th ere ra n be too m uch cred it e x ­
tended by the re ta il m erc h an ts to
you or to m e. One can get Into
debt over his head ju st as easily
by p urchasing a t re ta il o r wholesale
a s by buying m ore land than we can
afford to own or a hom e la rg e r than
w e need.
So, a discussion of w hat the board
of governors of the federal re serv e
sy ste m has done can lead In this
in stan c e only to a conclusion th at
d a n g e r flags a re waving.
I do not w ant to e x ag g e rate p re s­
e n t conditions or signs as I see them .
f
T his Is no tim e to
D on t G et becom e excited.
E x c ite d
T here are, how­
ever, boundaries
beyond which we cannot go in the
m a tte r of cred it w ithout facing a n ­
o th e r tailspin of the type of 1020.
T h a t is the thing I fe a r m ay result
fro m an accum ulation of federal
policies of which the late action by
the fe d era l re serv e board is only
one.
It Is perfectly hum an and natu ral
fo r e a c h one of us to a sp ire to better
things, to h ave m ore of this w orld's
goods for our enjoym ent and to
eq u ip ourselves by way of g re a te r
re so u rc e s for the future. We will do
Bruckart
W a . h l n r l o n . D. C.
those things som etim es when we
ought not to do them sim ply be­
cause the instru m en ts a re available
and we do not sto p to count the ul­
tim a te cost. To the extent, then, th a t
the federal re serv e board probably
has m ade borrow ing e a s ie r it h a s
tem pted a c erta in percentage of c it­
izens, or will te m p t them in the
future.
The condition of e asie r debt th at is
now presented is, as I have said, on­
ly one of m any tem ptations and in­
ducem ents for getting into debt th at
has been offered by the Roosevelt
policies. It is u nnecessary to r e ­
count h e re how m any pieces of
legislation, how m any executive and
a d m in istrativ e rules have been
m ade to perm it citizens to use m on­
ey th a t is not th e ir own. T hey a re
alm ost num berless. The re su lt has
been, is, and will continue to be the
View of the scene in P u ri, India, as the c a r of the Ja g g a n ath (Juggernaut) was hauled by thousands of
creation of a lot of debt th a t will pilgrim s in the recent festival of "T he L ord of the W orld.” In olden days, these huge vehicles in which devout
hang over us all for y ears to com e. Hindus tak e their gods for a rid e once a y e a r often becam e uncontrollable and pilgrim s w ere crushed beneath
The federal governm ent itself has the wheels. In recen t y e a rs police reg u latio n s h a v e been so stringent th a t accidents ra re ly happen.
taken the lead in getting into debt.
The late st T reasu ry sta te m en t shows
on la st S a tu rd a y to discuss plans
th a t the U nited S tates governm ent
for th e ir b azaar a n d o p ining dance
owes m ore th an thirty-seven billion
T h e degree team also practiced Six
dollars. T hat am ounts to $281.63 for
MRS. DAN CORBETT
a t th e com pletion of th e grange hall,
ev ery m an, w om an and child in the
Ja c k Brodi-: is picking apples a t new m em bers will be initiated a t the
U nited States. C om pare th a t with
the national d e b t as of 1932 w hen it Payette.
next reg u lar m eetin g October 22.
O ur little com m unity is as busy as
stood a t $19,500,000,000 or a debt of
Jam es S tep h en a n d Alva Gcodell
Dr. H ouser of H aines h u h te d on
$155.93 for every living person in ire th resh in g clover seed for Mr. last F rid a y w ith Floyd W hite. He a hive of bees. F our hullers are a t
the U nited S tates.
S trickland.
re tu rn e d hom e w ith a fine 3-point work and have been for some tim e
hulling clover seed w ith a n o th e r ex­
Mrs. C. C. W yckoff's fa th e r and buck.
• • •
pected to go to work; th e E llictt
sister
a
n
d
neiec
from
K
a
n
sa
s
visited
Mr.
a
n
d
M
rs.
V
ernon
Law
rence
I do not know when, if ever, this
m achine for H arry Denny. Gheen,
here
la
st
week.
sp
en
t
th
e
week
e
n
d
w
ith
relatives
gigantic national debt will be paid
Schim er, K u rtz and
T im m erm an
off. I think prob-
L eland H offm an
and
Jam es n e a r W eiser.
one hu n d red
M ary W eir w as a week end guest each have aro u n d
P a y O ff
ably the A m erican C hard called a t th e C an n o n hom e
acres in all. some more, some less.
a t h e r hom e in B ig Bend.
S o m e tim e people with tra d i­ Sunay eveningd.
P ete W eikal of O n ta rio a n d a T he two form er m en will finish
tional tenacity will
Mr. a n d Mrs. Alva Goodell spent
m em ber of B oulevard grange, visit­ th eir crop th is week. M. L. Judd
stick by the job and get it done som e th e week end a t M eridian.
a n d th e Z absonetta B rothers are
tim e, but I m ust re fe r to the job as
S ilas H offm an finished haying ed E ldorado grange F riday night.
a very slow process. It req u ired S aturday.
Mrs. Id a V an B u re n visited in O n ­ about ready for a m achine. Leslie
Young h a s his clover threshed but
twelve y e a rs a fte r the World w a r
E. L. Jam iso n h a s finished h<* ta rio on M onday a n d Tuesday.
hopes to have a crop cf alsac. T
debt reached its peak of tw enty-six
T
h
e
W
illis
E
lm
s
th
ra
sh
e
r
from
cistern a n d is filling it.
Rodger is getting his ladine Clover
billion to reduce it by ten m illions.
U
nity
finished
th
resh
in
g
a
t
th
e
W
al­
C. C. W yckcff h a s com pleted his
ready for a m achine. Young Stam
T hat reduction w as m ore rapid than
te
r
D
uncan
ra
n
c
h
la
st
T
hursday
and
garage.
and L each are haying. K urtz has his
had ev er been known before in any
le ft for hom e.
Mr.
Mrs.
E.
L.
Jam
iso
n
called
a
t
nation and it w as m ade possible be­
Cecil H ill is hom e from Jo rd a n in th e shock. D enny and Corn are
cause of the p ro sp erity which we en­ the Silas H offm an hom e Sunday Valley for th e w inter.
cuttin g beans w hen the dew is on.
evening.
joyed during those twelve y e ars.
Hired help h a s been more plentiful
G
ordon
Dixon
b
rought
h
is
wife
T h e C h a tte r Box club m et a t an
th a n it was expected although some
It would seem , therefore, th a t we
a
n
d
baby
d
a
u
g
h
te
r
hom
e
from
O
n
­
all day m eeting a t th e hom e of Mrs.
m en drive from Nyssa.
m ust consider not only a slowing
ta
rio
on
S
atu
rd
ay
.
C H. B e n n ett O ctober 6 w ith a ocv-
T he Tom Godwin fam ily retu rn ed
down of individual debt m aking, but
Mrs. O rville Nichols atten d ed the
ered
dish
luncheon
a
t
noon.
a sh a rp c u rta ilm en t of national debt
m eeting of th e county school clerks hom e F riday having atten d ed the
T he day was spent in
quilting in Vale on T h u rsay .
m aking as well. If we do not, a
P o rtlan d Live Stock Show.
Miss
yaw ning
c av e rn
of unsounded wtitv Mrs. A. A. Jam ieson giving a n
M orris showed th eir
Mr. R aleigh V an B uren and Mrs. M a rth a and
Interesting guessing gam e w ith Mrs. Floyd W hite h elped Mrs. K en n eth three baby beef calves.
depths aw aits us.
H. E. M cLaughlin spent th e week
Som e w eeks ago Mr. Roosevelt E. L. Jam ieson w inning first prize G ra b n e r m ove to h e r hom e n e a r
end in Caldwell with his fam ily who
sent instructions to the various and Mrs. J. Boekoesky w inning the R ich lan d la st week.
consolation.
agencies of the governm ent to save
O rris D earborn visited th e E arl a re visiting a t the p a re n 'a l H enry
New m em bers were Mrs. J. Redd L oftons on S a tu rd a y and w ent deer Jones home.
ten p e r cent out of the operations for
the c u rre n t fiscal y e a r to help in and Mrs. E. Redd.
h u n tin g w ith them .
balancing the budget. T here w ere
T he hostess served d a in ty re fre sh ­
Mrs. W alter W orsham of M alheur
no ifs, nor ands, nor buts about m en ts to th e following guests: Mes- was a d in n e r guest of Mrs. Earl
P resid en t R oosevelt's instructions. dam es L. Adams. J. B artholom a, J. L ofton la st S a tu rd ay .
The spending agencies w ere told Biokoisky. O. C hoat, H. Day, C.
sim ply to lay aside th a t ten p e r G ard n er, A. A. Jam ieson, E. L. J a m ­
cent which, in the a g g reg ate, would ieson. V. McGee, H. Maw, E. Neilson
am ount to around four hundred m il­ J. S tephens, T urhum e, J . Redd, E
lion dollars.
The P re sid e n t said H nderson, E. Redd. S tru m a n d A
Mr. a n d Mrs. Lloyd Adam s and
during a speech a t the g re a t C olum ­ P. Goodell.
Mrs. Ja m e s P ierce were O ntario
bia riv e r dam the other day th a t he
Tlte n e x t m eeting of th e club will visiters M onday.
hoped to balance the budget in the be held a t the H a rlan d M aw hem e
Floyd Cam pbell bought two Jersey
next fiscal y ear. Most other people
O ctober 20 w ith A. P. Goodell p ro ­ cows last week.
hope th a t the P re sid e n t’s hope is
gram leader.
T h e C h a tte r Box club m et a t the
realized because Mr. Roosevelt has
hom e of Mrs. C. H. B en n ett last
stated severul tim es th at the budget
W ednesday w ith tw enty answ ering
will be balanced “ next y e a r” and
to roll call. E ach lady b rought a
som e of us a ra beginning to w onder
ocvered d ish a n d all enjoyed a d e­
By MRS. E. J. BEAM
w hether his budget b alancing s ta te ­
licious luncheon.
m ents a re not like the sta te m en ts
M r. a n d Mrs. Lloyd A dam s were
which P re sid e n t Hoover m ad e a t
the beginning of the depression.
Mrs. Floyd W hite a n d h e r d a u g h ­ guests a t th e J o h n a n d R obert
He said, you will re m e m b e r, a num ­ te r Mrs. K en n eth G ra b n e r m otored A dam s hom e T uesday.
M r. a n d Mrs. D. H. C u rran left
b e r of tim es th a t "p ro sp erity is to Boise on M onday to see Mrs. W. J
Individual a tte n tio n to every
ju st around the c o rn e r,” a c orner H inton, who is recovering from a re ­ T h u rsd a y for Illinois w here h e r
specific detail is our way of
m o th e r is ill. T h ey expect to be
th a t still seem s to be next year.
cen t operation.
conducting a m ore complete
fu n eral service.
• • •
Ja m es L aw rance was a business gone th ree weeks.
T h e lum ber h a s been delivered for
But Mr. Roosevelt m u st be com ­ visitor h e re last week from Baker.
M r a n d Mrs. Fred Law rence drove th e house cn O. B. A ndersons place
m ended and criticized a t the sam e
tim e for his budg- Mrs. E sth er Perken to h e r hom e in w hich R ussell C ornell has leased.
M r a n d Mrs. Russell Cornell had
B udget
et balancing ideas. P rairie C ity on M onday a n d visited
B a lancing Mind you, no c riti­ w ith o th e r relatives th e re u n til th e m isfo rtu n e o f havign th e ir te n t
Mrs. P erkins h a s been house, in w hich th ey were living, d e ­
cism can possibly T uesday.
be attach ed to the objective—a b a l­ visiting h e r daughters fam ily here stroyed by fire la st Tuesday nig h t.
anced budget. But com m endation for th e p a st m onth.
m ust give way to c riticism on som e
In a Rose, E verett Law rence and
of the things th a t a re happening th e Powell girls were hom e from
under the fiat ord er for a reduction Vale over th e week end.
in spending.
M r a n d Mrs. E. J. Beam and Roy
T ake this case for exam ple; The Wise w ere business visitors in O n­
N ational P a rk service, like o th er tario a n d Nyssa on M onday.
agencies, laid aw ay ten per cent of
T h e H om e Economies club held a
its operations. This im pounding of special m eeting a t th e school house
m oney happened to coincide with
the g re atest flock of v isitors e v er to
en te r the g ates of the c o u n try 's n a ­
tional playgrounds. It costs money
to police and protect the p a rk s;
it req u ires funds to provide for the
com fort of the throngs of v isito rs to
national parks. T he result, in the
case of se v e ra l parks, w as th a t they
w ere forced to close th eir ga te s to
v isitors from a week to a m onth
e a rlie r than they usually do in the
to
fall. T heir m oney had run o u t
Well, say you, w hat h a rm does
Pencil*—
to
th a t do? Sim ply this: V isitors to
national parks, such as Yellowstone,
A l'T O PO IN T ER S
for exam ple, pay m uch m ore for
Pen and Pencil Set*—
to
for
e n tra n ce fees and the things they
W INTER DRIV IN G
m ust buy while in the p a rk s than it
Beautiful Desk Sets—
to
costs the go v ern m en t to m ain tain
H ave Y our C a r thoroughly
the parks.
G reased.
But th at is the c rux in this situ a ­
T ry a tan k fu l of S uper-S hell
tion. The N ational P a rk service
does not keep the m oney th a t Is paid
C hange Now to W in ter O rade
in by park visitors. T hose funds
Oil
a re tu rn ed directly into the tre a su ry
a s general revenue. The books of
the N ational P a rk service, th ere ­
fore. show only outgo.
The Th r iß Store
The condition is one. therefore. M
seem s to m e, th a t alm ost w a rra n ts
a sta te m en t th a t the policy is "p en ­
ny wise and pound foolish.”
day n ig h t in N y » a
T he m onthly m eeting of the local
W C.T U. was held With Mrs P in k ­
ston T hursday afternoon w ith one
visitor. Mrs. D. L. Anderson, present.
A fter the business m eeting a study
hour was enjoyed with Mrs. W alsh
as leader.
Mr. and Mrs. D. L. Anderson were
hosts to a chicken supper Friday
evening. G uests included Mr. and
Mrs. Crawford, Mr. a n d Mrs. H en­
drix and Mr. and Mrs. Fife of Nyssa.
Mr. and Mrs Jesse Sugg were Vale
business visitors on M onday m o rn ­
ing.
Mrs. C arrie M cLoughllne sp en t
from T hursday until Sunday even­
ing a t th e M. L. K u rtz hom e.
Messrs. Leslie Y eung, L ester and
S tan ley G oulet accom panied Sid
F la n ag a n o n a deer h u n t Sunday
above U nity. M r. Y oung w ent on
business. He p lan n e d to visit the
lum ber cam p th e re w ith th e idea of
ordering ro ugh lum ber fo r a barn
a n d g ran ary .
Mr. R. O verstreet, Sr., a n d hired
m an are building a n e ttin g fence i n
his forty acre farm .
A lligator L ays M any Eggs
The a llig ato r lays from 30 to 40
h a rd w hite eggs about the size of
those of a goose.
Nateci
Nyssa H eights
Buena V ista News
RICHLAND
$4-95
2-50
GALLON
HALF-GALLON
QUART
* ;
T
M s
Nothing Better for that Early Morning Hunt
Breakfast than our HOME CURED HAM or
BACON
Half or Whole
Pound
28c
32c
Ham
Bacon
By Piece
Pound
NYSSA PACKING CO.
Phone 6
MAKE NYSSA YOUR TRADING POINT
Attractive New Prices
FOR
Laundry Servit:e
Effective October 18, 1937
$1.95
$7.50
$1.95
$5.00
ROUGH DRY. per pound
Service
NYSSA
FUNERAL HOME
Phone 72W
-
Parker Pens . . .
Embody a beauty of styling together with a rug­
gedness of construction that insures years of
writing satisfaction. All pens and pencils are
guaranteed to be mechanically perfect. You will
find a complete assortment at our store.
$1.00
$
Old
Price
Dress Shirts................. .................20c
Work Shirts.......
................. 15c
Silk or Cotton Drawers ................. 13”
Woolen Drawers
.................15c
Silk or Cotton Under Shirts......... 13c
Woolen Under Shirts .................15c
Silk or Cotton Unions ................20c
Woolen Union Suits .................25c
Night Shirts
................20c
Pajamas . .
Soicks .....
Handkerhiefs
Slips .....
Bloomers
Undervests
Ladies’ Unions
Teddies
Night Dresses
20c
Lace Curtains
Scrim Curtains
.................20c
Cotton Blankets
IRONSIDE NEWS
Pens—$1.25
$ 1-30
$5.00
$2.50
7c
New
Price
15c
12c
10c
13c
10c
12c
15c
20c
15c
20c
3c
2c
15c
10c
5c
15c
15c
15c
25c
15c
30c
6c
Ideal Gifts—Always staunch companions
Owyhee Drug Co.
NORCOTT
SERVICE
Nyua, Oregon
• W n a r a N ew spaper Unl«w.
PHONE 29
Next to Idaho Power Company
Ontario Laundry
Telephones 98 and 99