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16 (572)
Survey o
0>E TERM A PLENTY.
Senator Works of California has introduced
a bill which proposes an
amendment to the constitution extending
the term of the President of the
United States and providing that no
President may serve a second term.
Sentiment in both houses of Congress
seems to be in favor of this change in
xiie organic law ana senator Works'
amendment came along just in time to
express a popular demand which has
existed for many years and which has
received an impetus in the last few
months. The decision of the Senate
committee on judiciary to report favorably
the Works joint resolution did not
come as a surprise either to Congress
or to the country. The committee seems
to he unanimous on the question of forbidding
a Preaident to Berve a second
term, but there are minor differences
of opinion as to whether the term is to
be four, five, six or seven years. These
will not defeat the proposition in either
house, it is believed.
THE MOHONK fOVFEREXCE.
At the annual meeting of this conference
whoBe members are the guests
of Dr. Albert K. Smiley at his home on
Lake Mohonk, Asiatics, Europeans and
Americans, Parsees, Jews and Christians
were participants. The tenor of
comment by speakers and by attendants
at the conference has been that
events domestic and foreign during the
past year, while not lessening hope in
ultimate triumph of the peace ideal and
the arbitration method have taught
"pacifists" who frequent Mohonk, that
a very much longer process of popular
education must go on before national
and international action are based on
trust in litigation rather than in war.
As President Butler put it, there yet
has to be much growth of the "international
mind;" some American senaators
must be made intelligent; and
American national example as to its
domestic affairs must become peaceful
and sober again before the United
States can call the nations to follow.
ORE GALORE.
Joseph Sell wood, an ore mine expert
of Duluth, told the HouBe steel Investigating
committee that the Lake Superior
ore region contains 1,400,000,000
luiio ui iivitiiwuit; iron ore, or wnicn
about 550,000,000 tons, excluding the
HH1 lease ores, are controlled by the
United States Steel Corporation. Don
H. Bacon, formerly of the Tennessee
Coal & Iron Company, testified that 400,000,000
tons of available ore were owned
by that company, row a subsldary of the
steel corporation. The Birmingham
district, he said, contained vast areas of
undeveloped ore. "To compete in the
steel business," said Mr. Bacon, "I
would want a guaranty of ore for 100
years, which would require 180,000,000
tons of ore. I think IT could find this
ore 1n the Birmingham district, and
such an amount could be found in one
bodv and not scattered over separate
areas."
HOW COFFEE KEEPS UP.
The first Illustration of the activities
of the so-called money trust given
to the House Investigating committee
was testimony that three New York
banking institutions?the National City
Bank, J. Plerpont Morgan & Company
and the First National Bank?lent
financial assistance to the government
of Brazil to limit the output of coffee
and maintain prices of coffee at a profitable
figure for the benefit of BraziUiari
as well as American and European
coffee dealers. This testimony
came from Herman Slelcken, of the New
York firm of Crossman & (Slelcken, large
THE PRESBYTERIi
f Curren
dealers In green coffee. Mr. Sielcken
attributed to the National City Bank a
patriotic motive for its investment. He
regarded the loan by the bank as of
great benefit to the United States, and
caid that the bank made the loan reluctantly
to exploit American trade
with South America. Mr. Sielcken
questioned the propriety of the committee
going into Brazil's affairs, and
as for his own participation, challenged
the Attorney-General of the United,
States and all the attorneys of the
country to discover any illegality in his
actions as a coffee merchant. Mr. Untermyer,
counsel for the investigating
committee, read from tables to show
the production of coffee for several
years amounted to but 6,000,000 bags,
and that it sold at from 6 1-2 to 7
cents a pound. Now the production
was 14,000,000 bags, and the price was
between 13 and 14 cents a pound. This
was accomplished by withholding from
the market the surplus supply of
coffee, he said. Mr. Sielcken testified
that there were 4,000,000 bags of coffee
now being held out of the market by
the valorization committee of seven, of
which he is a member.
A CABINET LABOR PORTFOLIO.
In favoring reporting a bill providing
for a department of labor with representation
in the ccfcinet and preparing
to put such a bill through the House
Jie Democrats are simply fulfilling the
pledge of the Denver platform of 1908.
"That we pledge the Democratic party
to the enactment of law creating a department
of labor, represented by a secretary
in the President's cabinet," said
the platform. That there will be legislation
at this time is unlikely. Tfce bill
will go through the House without
serious opposition; but in the Senate
It is not likely that there will be any
effort to bring the bill to a vote. Moreover,
Congress has always been conservative
in the establishment of new executive
departments. Only three additions
to the cabinet have been made 1n more
than a century?the department of the
interior in 1849, the department of
agriculture in isss, and the department
of commerce and labor In the McKinley
administraton. The other six departments
were established the first ten
years of the government under the constitution.
.4 RICH DIAMOND FIND.
As Is well known, South Africa is
extremely rich in mineral wealth, chiefly
gold and diamonds; but to work
these deposits usually requires enormous
capital, so much so that the getting
of the mineral wealth has no very
great attraction for the ordinary man.
There occurred (at Mooifonteln, Transvaal)
recently one of the periodical
diamond rushes which lg a peculiar
feature of South African life. Unlike
.no uiuea ui uiunjr ui Lu? giem ummona
companies, this consists of alluvial diggings
and is a "small" man's concern.
In a few weeks Moolfontein has become
quite a town of about 10,0()0 white inhabitants,
8.000 of whom are men engaged
in digging for diamonds. The dimensions
of claims are 45x45 feet
Stones have lately been found that
Xl/oro onl H fr\ r anuorol VinrtHr/wl nAimda
" V?v BVIU DV f Ul MI UUIIUIUU ^UUUUO
each. Owing to the diamonds being
found only a few feet from the surface
previous experience in diamond digging
is not essential. A number of the men
employed receive as payment a percentage
of the profits, not having sufficient
capital to work a claim of their
own. The monthly output of stones
from this particular area is valued at
about 40,000 pounds ($200,000), and it
is reported that all claims are doing
well.
IN OF THE SOUTH
t Events
UROWTH OF MEN AND MONEY.
The bureau of statistics of the department
of commerce and labor publishes
figures to show that more than 15,000,000
of people will record their votes in
the coming presidential election. This
is but but one of a number of interesting
statistical studies made by the department
and set forth in the Statistical
Abstract just issued. It shews, for example,
that the average per capita
wealth of the country has grown from
.$30<7 in 1860 to over $1,300 in 1904, the
latest official record on this subject; the
money in circulation, from $12 per
capita in 1850 to $34 per capita in 1911;
the bank clearings, from $52,000,000,000
in 1887, thellrst year for which an official
rAnnrri war nvnilohlo fn I1RQ AAA AAA AHA
in 1911; the individual deposits in banks,
from $2,000,000,000 in 1876, the earliest
year for whdch figures are available, to
practically $16,000,000,000 in 1911; the
number of depositors in savings banks,
from $1,000,000 in 1866 to $9,500,000 in
1911; tbe exports of domestic products,
from a little over $100,000,000 in 1840
to over $2,000,000,000 in 1911; and the
value of manufactures produced in the
country, from $1,000,000,000 in 1850 to
$20,500,000,000 in 1910, and many other
equally interesting evidences of national
growth.
TITANIC INSURANCE.
Insurance men estimate that the total
losses to be paid by the various life,
accident and marine companies as a result
of the sinking of the Titanic will
reach approximately $15,000,000. Two
thirds of this will fall upon the marine
insurance eomnanies. iSevemi Amnrl
can companies which do all classes of
bnsiness have been hard hit. All the
marine insurance was carried abroad,
It Did You
1 if/ Ever See
ijT This Doni
Iffl j| This trademark stands for the
IkIII'Hi tSLTaovisSouth Bend Watch. You
ftiPi Ifl may have seen a South Bend
ill II actually frozen in a cake of ice
'|l l| in a South-Bend-Jeweler's winJ
u? dow, for hundreds of these jewj
elers have shown these watches
W || running accurately in ice.
The meaning of the traden
ill mark's that South Bend Watches
III III ?re marve^ou$^y accurate lime
Ill ^ kicj. x ins iiiui k lueaua uuu
\vjjj South Bend Watches actually
'If do what the mark Indicates. An
II adjusted South Bend will-run in
l| , oven heat, too, and keep perfect
III time.
If Now, if it will keep time uni|//|
der these conditions, it will stay
ull accurate in your pocket.
fil'i Yououfjhttolook up a SouthrA
Bend-Jeweler and see one of
I y these watches.
j'Jfl It takes six months just to
iij make a South Bend Watch. Six
jjfl months more are often neces
Isary to regulate it to the point
where It will pass the 700-hour
accuracy test that every South
Bend must stand. Each watch
is inspected 411 times in the
making. A South Bend is truly
a wonderful watch
The South Bend
& Jackson Street,
^Soirfh
[May 22, 1912
but the risk is distributed largely in
this country by means of what the insurance
men call "reinsurance;" that
1b, the company issuing the policy reinsured
a part of its risk in other companies.
Insurance Field, a trade journal
published here, asserts that "nowhere
in the annals of insurance is
there a parallel for the loss of insured
life and property occasioned by the
sinking of the Titanic." The journal
makes the following estimates of the
total loss:
Life insurance $ 2,193,000
4-ccident insurance, 2,213,000
Marine insurance (ship), .. 5,000,000
Marine Insurance (cargo), .. 5,000,000
Total $14,406,000
3b f: I pj this little cranki
JgSl MM opens or closes I
1^' shuttei^/
TheMALLORY
SHUTTER WORKER
opens or closes your
shutters from the inside
without raising the sash
or screens, and securely
locks them in any position
when closed. Compactly
made, neatly and
attractively finished td
suit your woodwork.
Any carpenter can put
them in place on old or
new houses, whether
frame, brick or stone.
If your dealer hasn't
them, send for illustrations
and descriptive
price list to :: :: ::
MALLORY MFG. CO.
295 BRIDGE STREET
FI.EMINGTON, N. J., U. S. A.
ij
Iji I
^ s ?p |
The South Bend is sold only |jj| j |
by expert retail jewelers?never Ij{ IH
by mail. You thus Ret the jew- kHll
eler's regulation with the South IhTrr1
Bend. That is important, for iff ill
watches don't run the same for | ij t il
evervbodv. They've cot to be HI* Ull
regulated to the buyer's person- flf'L!
ality. Ask the jeweler why. Jul
Drop In today and see a A |y
South-Bend-Jeweler. Read this |N"
letter from one of them: Mm
Mandan. N. D.. March 25.1911. M 'J
South Bend Watch Co.
SuuUi Bend, lod.
Gentlrmrn: I would say In re- lH ill
fard to Studebaker Watch that V) j]
am very much pleased with it.
I loaned this wutch to Conductor 511)
Ed. Nichols of the Northern Pacific
R. R. Said watch came in
on time for three consecutive II
weeks. Mr. Nichols stated to Tin
me it was the best wntch he ever \fl
carried. Yours very truly, U
C. Cohywb. _
Write for free book, "How
Good Watches Are Made." It
tells interesting things about
watches and their construction.
You need this book if you are
<YAtn<* f A Kml O
vvr ?*
Watch Company
South Bend, Indiana
iRend"
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