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GAMBLING ON THE COFFEE
EXCHANGE KILLED BY BRAZIL
She Bought the Surplus Crop in a Bumper Year to Prevent
a Trade Disaster and Controls the Market—Price Held
So Steady Speculation is Idle—Nearly 8,Q00 r
000 Bags of Coffee Held To-Day by
the State Worth $10 to $11 a Bag.
Transactions in options and fu¬
tures in the New York Coffee Ex¬
change have almost ceased. A year
*ro the daily sales were 30,000.
There was a net decline in sales,
mostly speculative, of 7,414,000 bags
4uring the past twelve months as
compared with the previous year.
For all practical purposes it may
fee said that gambling in coffee
prices has ended for the time being,
*ot only in New York but in Ham¬
burg, Germany, and Havre, France,
where are the other principal ex¬
changes.
This hag been brought about not
My internal reform of coffee ex¬
changes, for traders are keen as ever,
■or by legislation, for all measures
proposed at the last session of the
New York Legislature to end gam¬
bling in food stuffs and stocks were
defeated.
i Due to Brazil’s Action.
It is due solely to the remarkable
periment now being made by the
Government of Brazil to control, for
ike benefit of her own people, the
jtarplus coffee supply of the world.
Some merchants in the trade call the
■ndertaking socialism, others char¬
acterize it as an example of financial
paternalism, while speculators de¬
nounce It as a corner in the market,
an unwarranted interference by
sorernment in private business. But
those importers who are allied in the
aalorization scheme, as It is called,
declare that it is merely a form of
protection for home industry, a re¬
versal in details of operation of our
•wn protective tariff.
The Brazilian experiment has been
1 b operation for a year and a half,
but only during the past few weeks
1 ms the full force of its operations
been felt in the markets of the world.
Slowly but steadily the transactions
•f speculators have been squeezed
down; very surely has the range of
•notations in prices been narrowed
and steadied, until to-day the possi¬
bility of rise or fall has been reduced
to such a small fraction that there
is neither excitement nor profit in
•peculation.
Nature smiled on Brazil in 1906
In unprecedented plenty, and the cof¬
lee crop for the year was nearly
double the customary production. In
the calendars of trade the coffee year
«xtends from July 1 to June 30, so
that officially this bumper crop is
recorded as that of 1906-7.
Ordinarily Brazil produces be¬
tween ten and eleven million of bags
•f coffee,, or about two-thirds of the
total required for the world’s con
imption. She did that in the year
previous and the year following the
Croat yield that upset all calcula¬
tions by amounting to 20,000,000
bags, or more than enough to supply
all the world, without reckoning the
•atput from other countries.
Faced a" Trade Disaster.
To pour such a surplus into the
•liannels of trade would have the cer¬
tain effect of lowering prices down
lowest ebb. Coffee growing is the
»rincipal industry of Brazil, It is
tfae life of the country, the basis of
•11 trade, the foundation of the na¬
tion’s financial operations, Coffee
prices more than cut iu half meant
ruin for the planters and almost vi¬
tal embarrassment to the Govern¬
ment itself. In this emergency the
Government resolved to embark into
commercial enterprise and become
the dominant factor in the coffee
trade of the world.
The State of Sao Paulo produces
»y far the larger part of Brazilian
coffee, and the financial operations
have been conducted chiefly in the
••me of its Government, although
hacked by the Federal Government.
It was resolved that the Government
should buy from the planters their
surplus coffee and hold it against
possible future short crops and the
increasing demand of the world. This
vould prevent a glut of the market
and a collapse in prices. The neces¬
sary legislation was enacted, and the
Government, both State and Nation¬
al, borrowed money in the financial
centres of the world to buy up the
aoffee.
These loans were negotiated In
two ways. One form was the or¬
dinary loan from bankers for which
pledged the export duties on
aoffee. This was done in the case of
$15,000,000 advanced by the house
at Rothschild. In other cases great
tercantile houses interested in the
aoffee trade, such as Arbuckle Broth
ars and Crossman & Sielcken, of New
York, and similar firms in Hamburg
London, advanced funds with
tke'eofffee itself as security.
All told, the Brazilian State and
Rational Government obligated
Giemselves for about $45,000,000,
and they hold to-day, stored in ware¬
houses in Santos, Rio Janeiro, New
York, Havre, Hamburg and other
trade centres, nearly 8,000,000 bags
of coffee, worth between $10 and
$11 a bag. Thus the Government is
in absolute control of the market. It
not only saved a crop panic at home
but obtained a power over the
world’s markets that up to date has
been wielded only for good.
Scarcely Any Fluctuation.
The legislative enactments auth¬
orizing the valorization scheme fixed
the maximum and minimum prices
at which the coffee should be bought
by the Government, The selling
price is regulated by the open mar¬
ket demand. If it falls below, the
Government declines to sell; if it
rises higher than cost price, then the
Government will sell in order to
lighten its load.
In face of these conditions no spec¬
ulator can do business, for there is
scarcely any fluctuation. During the
year which closed on June 30 the
extreme range of fluctuation on the
New York Coffee Exchange for No.
7 (a standard grade) was % of a
cent, as against 2 % cents the prev¬
ious year and twice as much in other
years. The exchange has known cof¬
fee as low as 3 % cents and as high
as 21 cents a pound. To-day it rules
steady and non-speculative close to
6 cents.
Of the vast amount of coffee which
the Brazilian Government bought in
during the winter of 1906-7 it has
sold very little. Last .month it put
up at public auction about 300,000
bags to establish an official price for
its holdings, This was necessary in
order to form a basis for the new ten
year loan of $50,000,000 that is in
preparation to take up all the orig¬
inal mercantile and banking opera¬
tions in connection with the coffee
deal and fund them into a single
Government loan. The export tax is
to be inoreased from 60 cents to $1
per bag in order to provide an in¬
terest and sinking fund to wipe out
the indebtedness.
There Is much similarity between
this coffee scheme and the demands
of cotton growers in the Southern
States of this country, who in recent
years demanded that the Government
help them carry their cotton. Like¬
wise Kansas farmers have made de¬
mands that the Government issue
money based on their wheat and
corn. The action of the Brazilian
Government would be analagous to
the United States Government pur¬
chasing the surplus wheat crop of
America in some year of extraordin¬
ary yield to keep the price from fall¬
ing below some fixed figure, as 75
cents, or even $1 a bushel.—The
World.
The Duties of the District Leader.
To Harper’s Weekly John S. Burke
contributes a vivid and amusing
sketch of the duties of the district
leader in the New York political sys¬
tem.
"Although the assertion would
contain much truth,” he writes, “it
would not be the whole truth to say
the District Leader preserves his po¬
litical existence by his adroitness in
administering the most skilfully or¬
ganized charity in New York. Pri¬
marily the Leader lives by being ‘in
right’ with the organization that
rules the city, and thus getting his
share of ‘fat’ contracts—not to men¬
tion other sources of gain that have
been used at times by the unscrupu¬
lous. The Leader keeps control of
his Assembly district only so long as
he dominates it absolutely. Let one
election show that he cannot bring
out the party vote at its full strength
and his sceptre is taken from him.
Long ago the shrewd ‘Leader recog¬
nized the fact that he who pays
money for a man’s vote is uncertain
as to the delivery of the goods pur¬
chased, and is certain to be despised
by the man forever after. Whereas
the politician who finds work for the
unemployed, and food and rent for
his family until pay day comes, is
sure of that man’s gratitude. He
need not worry about how the man
will vote. ft
Defense of the Top Hat.
Its doom has been pronounced, hut
it defends itself. The top hat is not
much more ugly than another hat.
And, above all, it is not uglier than
the rest of our masculine costume.
It has its peculiar qualities; it re¬
quires to be taken care of. The soft
hat does not exercise our will; it lets
us go, and it is wrong. Honor to the
eight or ten reflections which are the
last safeguard, or very nearly, of in¬
dividual energy in the civilized states.
•Journal des Debats, Paris.
CHOCOLATE PUDDING.
I One pint breadcrumbs, one quart
I milk, yolks of four eggs, two or three
| squares of chocolate, season with es¬
sence of vanilla. When cold, beat the
whites of the eggs light with four
tablespoonfuls of pulverized sugar.
Put this over the top, and place in
the oven until brown.
EETTER THAN BEAUTY.
"Yes, she advertised for a husband
and got 2,700 replies."
“Gracious! She must have adver¬
tised herself as very beautiful. 11
"No, she didn’t. Stic just, said she
had $700 in the bank.”—Cleveland
Plain Dealer.
Man and Beast Alike.
Those who have suffered the agony
of eye afflictions can appreciate the
blessing to humanity in Dr. Mitchell’s
famous Eye Salve, Introduced In
this region in 1849 it is found in all
well regulated homes, Not alone
mankind but dumb animals know its
comforts. Mitchell’3 Eye Salve, 26c.
Not Cowards, the Persians.
Every traveler, from Morier on¬
wards, has descanted on the physical
cowardice of the Persians. But there
are mysteries about the valor of
Asiatics which no European historian
has yet set himself to solve. It was
currently said in the early eighties I
among Englishmen that the Egyptians
are cowards; yet under Mehemet All
they defeated Turkish armies and
Wahabi fanatics, and would certainly
have overthrown the Turkish empire
if Europe had not intervened. There
are similar passages in Persian his¬
tory.—London Nation.
To Drive Out Malaria ami Build Uj
the System
Take the Old Standard Grove's Taste¬
less Chill. Tonic. You know what yon
are taking. The formula is plainly printed
on every bottle, showing it is simply Qui¬
nine and Iron in a tasteless form, and the
most effectual form. For grown people
and children. 50c.
BEATEN BISCUIT.
One quart flour, put in thoroughly,
one tablespoonful of lard, one tea
cupful milk, one-third teacupful of
water. Mix it up stiff and beat until
the dough Is soft and covered with
blisters. Roll out the dough on the
board and cut out the biscuits. Stick
them with a fork, 'bake in a quick
oven. Let them be slightly browned.
One tablespoonful of butter is an im¬
provement.
DOCTOR PRESCRIBED CUl^JJU
After Other Treatment Failed—™Fnw
Eczema on Baby’s Face KaJ
Lasted Three Months.
“Our baby boy broke out with •eczema ■'Tv
his face when one month old. One placa
on the side of his face the size of a nickel
was raw like beefsteak for three months,
and he would cry out when T bathed the
parts that were sore ana broken out. 1
gave him three months’ treatment from a
good doctor, but at the end" of that time
the child was no better. Then my doctor
recommended Cuticura. After using a cake
of Cuticura Soap, a third of a box of Cuti¬
cura Ointment, and half a bottle of Cuti¬
cura Resolvent he was well and his face
was as smooth as anv baby's. He is now
two years and a half old and no eczema
has reappeared. Mrs. M. L. Harris, Alton,
Kan., May 14 and June 1-2. 1907.
WASHINGTON BREAKFAST CAKES.
Three eggs, one pint milk, one pint
flour, one teaspoonful of butter. Beat
all well together and add two table
spoonfuls of yeast. Set to rise in a
warm place. Put in greased tins
and bake in a quick oven. Beat the
eggs light before adding them to the
other ingredients.
AWFUL GRAVEL ATTACKS
Cured by Doan’s Kidney Pills After
Years of Suffering.
F. A. Rippy, Depot Ave., Gallatin,
Tenn,. says: “Fifteen years ago kid¬
ney disease attacked
me. The pain in my
back was so agoniz¬
ing 1 finally had to
give up work. Then
came terrible attacks
of gravel with acute
pain and passages of
blood. In all I
passed 25 stones,
some as large as a
bean. Nine yearsof this ran me down
to a state of continual weakness, and
I thought I never would be better un¬
til I began using Doan’s Kidney Pills.
The improvement was rapid, and,
6ince using four boxes I am cured and
have never had any return of the
trouble.”
Sold by all dealers. 50 cents a box.
Foster-Milburn Co., Buffalo, N. Y.
NOT CALCULATED ON.
(i A man should never have any se¬
crets from his wife.”
“Why not?”
a It isn’t the thing to do.
But hasn’t he sworn to make her
happy?”—Nashville American.
Mrs. Winslow’s Soothing Syrup for Children
teething, softens the gums, reduces inflamma¬
tion. allavs pain, cures wind colic, 25c a bottle
SHINING EXAMPLES.
«< I started to tell my wife about a
woman who made her own fall gown.”
“Well?”
She capped my story with one
about a man who made a million dol¬
lars.”—Louisville Courier Journal.
♦
f '' 0 ^
A
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I*.
"JENNY - KISSED ME,” TOO
Sarah kissed when ^
So Kate me we and met, Dora,
did and Bell
So did Jane and Violet,
Dolly, Ciaribel and Flora.
They all liked girls:—they me pretty well. hid it!
And—dear never
I don’t like to kiss and tell—
Still, they did it.
Later in the day I met
(And saluted) Maude and Daisy,
And I also kissed Cozette.
O, Clara, I’m Julia, Ruth Leigh and Hunt. Maisie—
sorrv for
) who’ve had so many, many! —
While poor Leigh’s one vaunted stunt
Was with Jenny.
—Richmond Times-Dispatch.
MODERN LIFE. -V F
I
“Got much family?”
“Not much. Just a pup and a rub¬
ber plant.”—Pittsburg Post.
THINKING PART FOR ETHEL.
Ethel—-“Let’s play house. rr
Johnny—“All right; you he ma
away in the country and I’ll be pa.”—
New York Sun.
A MAN’S COMMENT.
u That’s a smart pump.”
“And a smart girl wearing it. Noth¬
ing short of genius could keep that
style of footgear on.”—Louisville
Courier-Journal.
GIVING IT TIME.
Jeweler—“Is your watch all right
Bow, Mr. Smart?”
Mr. Smart—“Well, no, not yet; but !
it seems to be gaining, every day. __ i I
Boston Transcript.
THIS MIGHT STICK. i )
“Have yon made your campaign i
contribution yet?”
“What’s the use?” sighed the poet.
“All my contributions are returned,
with thanks.”-—Washington Herald.
SUITABLE- ATTIRE.
“I think,” said Sue Brett, “I’ll take
* dip into vaudeville.”
“Take a dip, eh?” commented
Yorick Hamm. “So that’s why you’ve
ordered a bathing-suJt rig,”—Kansas
City Journal.
HAVE' A CARE.
“My mission in life,” said the satir¬
ist, “is to put the dunce cap on the
of other people.”
“Be careful,” replied his friend,
you don’t catch cold.”—Phila¬
Inquirer.
REGARDLESS.
“It will be an expensive wedding,
understand.”
“Oh, it will. They rehearse every
and the prospective groom
a real camera at each re¬
Herald.
SOMEWHAT PREPARED.
“I think that young man is a candi¬
for your daughter’s heart.”
“Yes,” assented the indulgent fa¬
“and I believe he’ll win out. I
for a notification committee any
now.”—Washington Herald.
UNFRIENDLY VIEWS.
Passenger Agent—“Here are some
views along our line of rail¬
Would you like them?”
Patron—“No, thank you. I rode
the line one day last week and
views of my own on it.”—Cni«
News.
THE GREEDY BARD.
“When he was poor he was a good
but prosperity ruined him.”
“How was that?”
“As soon as he began getting a
a word, he wouldn’t stick to
meter. Insisted on jamming in
words. Louisville Courier
BURDENED WITH WEALTH.
“Did you try counting sheep for
insomnia?”
“Yes, doc.; but I made a mess of
I counted 10,000 sheep, put ’em
cars and shipped 'em to market.
wad of money I got for ’em made
afraid to go to sleep.”—Washing¬
Herald.
A SERIOUS MATTER.
“You are being mentioned promi¬
explained the politician, “for
and that office of distinction.”
“But that doesn’t provide me with
eats, expostulated his constitu
Won’t you have me mentioned
some place I could get?”—Hous¬
Chronicle.
NO TERRORS FOR HIM.
The Angle Worm “How in the j
do you escape being poisoned i
the Paris green the plants are
v/ith?”
The Potato Bug—“Me? My boy,
a faith scientist, I consider the
creme de menthe, and partake Qf
freely after meals.”—Judge,
""SEES?"*
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$ m
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•Si:
HON. GEORGE W. HONEY.
Hon. George W. Honey, National Chan
lain U. V. L., ex-Chaplain Fourth Wiscon
sin Cavalry, ex-Treasurer State of Wiscon.
sin, and cx-Quartermaster General State of
Texas G. A. R., writes from 1700 First St
N. E., Washington, D. C., as follows: ’’
“I cannot too highly recommend your
preparation troubles for their the relief of catarrhal
in various forms.
Some members of my own family have used
it with most gratifying results. When
other remedies failed Peruna proved
most its efficacious curative and ] cheerfully certify
to excellence.”
Mr. Fred L. Ilebard, for nine years a
leading photographer of Kansas City ol
Mo., located at the northeast corner
12th and Grand Aves., cheerfully gives
the following that Peruna testimony: “It is a proven
fact will cure catarrh and
la grippe, and as a tonic it has no
take equal. something Druggists else have ‘just tried to good,’ make but me
as
Peruna is good enough for me.”
Pe-ru-na in Tablet Form. «
For two years Dr. Hartman and his as
sistants have incessantly labored to create
Peruna in tablet form, and their strenuous
efforts have just been crowned with sue
cess. People who object to liquid medi¬
cines can now secure Peruna tablets, which:
represent the solid medioinab ingredient*
of Peruna.
AT LOOli^ THIS PRICE SP
I* buys a Strictly
High-Class I'SHGHT
SEWING ! [PREPAID TOYOfflb
MACHINE Simon
GUARANTEED 30 YEARS
And has all the up-to-date improvements that
every lady appreciates. It is splendidly built of
finished. thoroughly Has dependable elegant material Leaf and handsomely
Oak Drop ^Drawer Cab¬
inet, complete Set of Attachments, full irigtriw
tions how to uae them, and the outfit will be sent
you “Freight Free" on
O DAYS FREE TRIAL
We salt DIRECT at ONE
B PROFIT, Having you the
B Jobber's, Retail eHs and
1 0 Agent’s profits and apU
/ ing expanses, & exactly they
2T 1 the saiDG machine
0 will ask you $80.00 for.
Send at ON op for OUR
I 1 BIG NEW FREE
§ SEWING MACHINE
CATALOGUE
* | ® sfcructive- Most complete book and of its
$ ■ character- ever pnbiish- pact*
^^jJk ■ ed in the Strath.. It
ures'and:describes- every of
the greatest lino of positively part Eigh-Grade and; particular Sewing
Machines ever offered,. We are the largest Sewing
Machine distributors-in the South,, and. at prices
asked.for qua lity guaranteed, our Machines are un
matchable . This catalogue describes and rooking prices
high-grade Pianos, Organs, Steel Ranges, Dinner and
Stoves, Heating Stoves, shipments,, Phonographs, and
Toilet Sets. Prompt safe deli back. very
satisfaction guaranteed, or your money
MALSSY, SHIPP & C©„
Dept, B.. 41 S. Forsyth Street, ATLANTA. GEORGIA
If you must make your mark, use
it will rub off.
Constipation and Biliousness.
Constipation sends poisonous matter
through the body. Dull headache,
Stomach, Feted Breath, Bleared Eyes,
of Energy and Appetite are the surest
of the affliction. Youso’s Lwkh Pills
cure constipation. They awaken
sluggish h'vo.' to better action, cleanse
bowels, strengthen the weakened parts, Price
appetite and aid digestion. from
cents from your dealer or direct
laboratory. Free sample by mail to any
.1. aT. Young, Jii.. Wayeross, <J a .
One’s umbrella is always in the
place when a sudden shower
up.
TESTING PAINT.
Property owners should know how
prove the purity and quality of
lead, the most important paint
before paying for It. In
who write, National Lead Co.,
largest manufacturers ot purt?
lead, send a free outfit with
to make a simple and sure test
white lead, and also a free book
parlnt. Their address is Wood
Bldg., New York City.
The man who goes into politics for
there is in it doesn’t get lone¬
TETTERINE—A RELIABLE CURE
Tettekine is a sure, safe and speedy diseas
eczema, tetter, skin and scalp physicians, ^
itching plies. Endorsed by a 1
by thousands who have u - at •
soothing, antiseptic, Sect
or by mail from J. T.
ept. A, Savannah, Ga.
Memory is that which will not P er "
us to forget unpleasant things
Capudine Cures Nervousness,
tired out, worried, overworked, ana or
not. It refreshes the brain
It’s Liquid and pleasant to tane.
25c., and 50c., at drug stores.
The race riots out west prove, to
Atlanta Constitution, that this °
is pretty .much the