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THE ATLANTA GEORGIAN AND NEWS.
THURSDAY. DECEMBER 5.
SAYSREPOIT
Cortelyou Says This Is
Increase of $144,-
485,910 Over 1906.
Washington. Dec. 5.^-In the report of
the secretary of the treasury for the
fiscal year, a total circulation of $2,876,-
868,696 D shown. This Is a net Increase
of $144,486,810 over the circulation of
Catarrh
■Whether it is of the nose, throat,
stomach, bowels,' or more delicate or-
Rans, catarrh is always debilitating and
ehonid have attention.
The discharge .from the mucous
membrane is because this is kept in a
state of inflammation by an impure
condition of the blood. Therefore, to
cure, take the best blood purifier,
Hood’s Sarsaparilla
usual I lentil form or cboretsled tablets
Inga banks. On November 11 there
were on deposit In national bank de
posltarles: To the credit of the United
Suites, 3212,958,SU.<!4; to the credit of
disbursing officers, 111,877,415.40; total,
8220,838,337.04.
Sums Distributed.
‘This sum was distributed among
notional banks In every state and ter
rltory of the Union.
"These deposits, and other treasury
operations, In connection with the asso
ciated efforts of prominent financiers
and other business men,' who aided
first by giving Important relief to cer
tain embarraased Institutions and aft
erwards by providing for the Imports
of gold, of which up to November 15
•T-h- „„hiic denosltories there h *d been engaged more than HO,.
K SStbSTTSow, was 'b&flUHuS I ?g&£!72 fheTrJaT
The total| ®“h available In the Bcnerai ury h|u) ma<le such adjustment of de-
"" ,44 4h® close of the ilscal year poilw between the various cities and
section* as was possible in such a time
fund
moM.«sV The total circulation of na
tional banks Is given »« ;se4,058,321
(tcdersl monies), a net Increase of
3144.485.810.
In recommending relief measures,
Secretary Cortelyou says:
Bsnk Reserve..
"According to (he report of the con
dition of national banks on August 28.
1807, the amount of reserves held by
all the national hanks In the country
was 81.121.358.395. Of this amount
about 3165,000.000 was held In the three
central reserve cities os depo»lts of
lianka located In the 40 other reserve
cities. A further amount, which can
not be estimated, was also deposited In
the central reserve cities as constitut
ing the three-fifths reserve which all
other banks might >so deposit.
"The total-amount held by central
reserve banks due to national banks
was 8427.000.000. so that nearly one-
half of the deposit! by other nutlonat
banks In the banks of the central re
serve cities consisted of funds counted
as resorvss by national banks outside
of the central reserve dtlee.
"It might be regarded as worth while
to consider the effect of amending the
laws so that the country might be di
vided Into geographical or commercial
sections, with provision for the reten
tion within each section of a Inrger
proportion of the bank reserve! re
quired to be held against deposits In
the national banks of such section.
Emergency Measures.
"During the summer the gradual In
creasing rats of Interest charged tor
call money, time money, and discounts
nf commercial bills Indicated a pro
gressive diminution in the amount of
available cash. Accordingly, It was
decided August 23, 1907, to make each
week aubstantlal deposits In the dif
ferent sections of the country, with the
particular object of facilitating the fall
movement of the crope.
"These distributions were continued
weakly until the aggregate amount of
826,000,000 had been so distributed.
Notwithstanding this measure, there
waa a constantly Increasing stringency
In th" monetary centers, which culmi
nated In ths forced ausiientlona nf sev
eral Important Institutions.
$35,000,000 Put Out
"As the crisis approached the de
partment' adopted the etrongeet meas
ures to give material assistance. With
in four daye there was transferred
from the treasury to the banks the
aum of 825.000,000, the security received
therefor being such state, municipal
ami railroad securities as are accepta
ble under the laws of the atatCB of
New York, Massachusetts, Connecticut
and New Jersey as Investments by sav-
Alcohol
Aik pour doctor If a family medicine,
like Ayer'i SanapartUo, h nol earth)
kilter without alcohol than with II.
Without Alcohol
Without Alcohol
A EtrooR Tonio *
A Body Builder •
A Blood Purifier -
A Great Alteratira
A Doctor's Msdicico
Ayer's Sarsaparilla
Without Alcohol
Without Alcohol
Without Alcohol
Without Alcohol
W.tuv.naseer*t.t WfMVUh
.. . r- r sMIilnn.
. Lowall, Sui.
of financial stress, and through the co
operation of Eastern bankers has se
cured the transfer, through the usual
commercial channels, of large sums of
money to the South, the ■ West, the
Northwest and the Pacific coast,
l Banks Hoarded Money.
"When the story of the recent com
merclal and Industrial disturbance has
been fully told, I am confident that
many misapprehensions will bo cleared
away and that the Interdependence of
nil sections of the country will be more
fully understood. It Is said that many
of our people have hoarded money.
This Is undoubtedly true, but so have
many of the banks.
"The secretary of the treasury Is
given wide discretion In many matters
wherein ho Is rarely called upon to
exercise It, and little, If any, In others
where It Is needed dally, particularly
as to certain of those having to do with
the vitally Important subject of our
currency.
Hands Are Tied.
"In limes of emergency hie hands are
virtually tied. It In such periods of
stress. In an effort to avert calamity
and serve the Interests of all ths peo
ple, he ts obliged to resort to unusual
measures, criticism la unfortunately In
many Instances directed not to the In
adequacy of the system, but solely to
the effort to give relief, even though It
be successful In accomplishing that
purpose.
"It should not be forgotten that he
hns to deul with tho practical rather
than the theoretical side of the cur
rency question. The failure of the ad
herents of the various suggested plans
of currency reform to co-operato or to
agree upon a practical measure would
hardly appear to be a sufficient renson
for holding 'him responsible for their
Indecision nnd Inaellon. Tho Irtwa un
der which he udmlnlsters his office
should be made to meet the dally needs
of the people, and h4s duties, suffi
ciently onerous ns they are. should not
be made more burdensome by restric
tions which leave him with the respon
sibility, but with no adequate means at
his disposal to meet It.
Should Be Object Lesson.
"What hns happened not only this
year, hut mnny times before, should
servo as nn admonition to enact wise
lows for tlie v prevention In the future
of disasters due In port at least to the
Imperfect organisation of our monetary
system.
"I deem It Important that something
he done ns speedily as may he consis
tent with thorough consideration to
provide under government guaranty a
greater elasticity to tho currency—
something which shall be automatic In
Its operation and which shall tend to
equalise rates of Interest not only In
different sections of tho country, but
at different periods of the year.
Provision should be made cither for
surh elasticity without the necessity
of Intervention on tho part of the secre
tary of the treasury or he should he
grunted tho authority to supply It by
properly safeguarded measures. I be
lieve that simplicity of pinn and
ness of action arc what the
people need and will demand. Wlmt
particular form this propsed legislation
should take must be left to the action
of the congress. I hnve nn pride of
opinion as to the method, but I have
the deepest concern ttmt the result
shall be adequately beneficial,
"The only specific recommendation
1 would 111,181' at present |s that It bo
given prompt attention, and that It be
not laid aside until some definite means
of relief shall have been enacted Into
law.”
PIC ISOM
*. SJTM
Not a Symptom Will
Show in 30 -
Days.
"The panic has been over two weeks.
In thirty days hardly the slightest
symptom will be left."
This Is the statement of W.
Wltham, the well-known hanker, who
recently returned from a trip of sev
eral weeks to the East.
Mr. Wltham addressed the American
Bankers' Association In Atlantic City
nnd spent ten days In New York financ
ing in the aid of the hoete of deorgla
farmers who are customers of the
Wltham banks over the state.
“The hanks in New York," continued
Mr. Wltham, "have regained a strong
foothold, and certificates are being
cancelled right along and currency la
being paid out. Of course currency
not being paid out as freely as before,
but It le getting more free every day
nnd soon perfectly normal conditions
will be restored.
"I have heard' people talk about this
panic In "connection with that of 1898.
This one has been just a tiny tot be
side that one. The two cen not be
mentioned in the same breath.”
Mr. Wltham was seen by a representa
tive of Tho Georgian Wednesday aft
ernoon and was asked for a statement
on ths situation.
"Mark ray word,"' he stated, "money
will be more abundant next spring than
It has been before In years. All this
gold that came over from Europe
not going buck. Cotton and wheat art
going over there Instead and the gold
will stay over here.
"Cotton Is going higher, too, just as
I have predicted right along. If trade
conditions were normal and money free,
cotton would be selling at 14 cents now
The demand for cotton goods Is In
creasing as the situation brightens
"I wrote to several of my banks
few weeks ago stating that cotton was
gc-lng higher. It was then worth 10 to
10 1-2 rents. Now It is worth from
II to 111-2 cents In country towns, ac
cording to reports reaching me.
"I was misquoted, by the way, In my
speech at Atlantic City. 1 stated that
this year’s crop would bo ono of tho
hlggext money crops of years. Several
papers quoted tne as having said it
wits going to be one of the biggest
crops. The crop will be email, hut It
will bring plenty of money. This le
what I said and meant.
"1 hear mnny pooplu talking about
the bunk Certificates, If It had not been
for the quick and judicious action of
Or. Lyon’s
PERFECT
Tooth Powder
Cleanses, preserves and
beautifies the teeth, and
Purifies the breath
A superior dentifrice
for people of refinement
Established in 1866 by
c/. & £
flH NATIONAL
CERTIFICATES
Adds $170,000 to the
Currency Circu
lation.
The Fourth National Bank of At
lanta Thursday morning put 3170,000
additional currency Into circulation,
following the allotment of that amount
in the new S per cent certificates by
the government.
The new currency Is Identical In
form with the hank notes already used
by that bank, the government having
authorised the Issue of 3170,000 In ad
dition to the 3400,000 circulation al
ready used by the bank. This gives
the Fourth National a circulation of
8570.000.
Last spring the Fourth National
Bank increased Its capital from 3400,000
to 3800,000, this permitting. If necessa
ry, the circulation nf 3200,000 additional
circulation. This war taken advantage
of by the use of the 3170,000 circula
tion granted by the treasury depart
ment.
Vice President J. K. Ottley explained
Thursday morning that the aditlonal
Issue would be in the form of bank
notes. Identical with those formerly
Issued by the banks. There Is no new
form of certificate or other paper to
puxsle the recipient.
The Fourth National was the only
Atlanta bank to be allotted any of the
treasury certificates. The government
has also offered 850,000,000 Panama
bonds for sale, and the Issue hns been
largely over-subscribed. Several At
lanta' banks. It Is understood, bid on
these bonds, but the allotments have
not yet been mode.
J. K. Ottley, vies president of the
Fourth National Bank, had this to
say In explanation of the Issuance by
the government of the treasury certifi
cates;
"The secretary of the treasury re
cently offered for sale to national
banks United States 3 per cent cer
llllraten nf Indebtedness, provided the
purchasing banks would uso them for
the purpose of Increasing their clrcu
latlon.
"The secretary of the treasury has
also offered for sale United States
bonds for the purpose of defraying ex
penses of the Panama canal.
"Certificates were allotted by the
secretary of the treasury to the extent
of I2r>,000,000, which means that banks
purchasing them pay for the same In
cash, which puts 325,000,000 cash Into
the treasury, and prevents the neces
sity of the treasurer withdrawing de
posits now In national bankB, and at
the same time afforded a basts for the
Increase of circulation In the same
amount, which means that 325,000,000
of national bnnk notes will be put Inf
Circulation, that Is puls 825,000,000 new
money Into circulation. The Fourth
National Bank ot Atlanta was allotted
3170,000 ot the 3 per cent certificates
end has Increased Its circulation In the
same amount, raising It front 3400,000
to 3570,000."
Mr. Ottley and Colonel Robert J.
Lowry, president ot the Lowry National
Bonk, have recently returned from the
East, and both apeak cheerfully ot the
brightening sltvutlon In New York
and over the entire country.
SILVERWARE AT MAHUFACTURERS’ COST
P
This molning we placed on
sale 2,000 pieces of Best
Quadruple Plated Silverware
at lowest prices ever quoted
in Atlanta. Every piece is in
perfect condition and posi
tively guaranteed for 25 years.
During this sale we will have the Southern Representative
of the Middleton Silver Co., Middleton, Conn., who will
devote his entire time to the in
terest of our customers.
(NOTE) $10.00 Tea Service
$5.75
Set consists of Tea Pot, Sugar Bowl, Cream Pitcher and
Spoon Holder, and is positively guaranteed 25 years.
Here Are a Few of the Items:
Regular
Price
Cut
Price
QUSCK DELIVERY
IPROHIBITIONi
The Cold Weather Voted Out by
“BANNER
the banks In Issuing certificate* and
providing a safe form of currency to
aid In the movement of the cotton crop
when the currency became short, cot
ton would have dropped to 8 cents.
"The opinion I gave to my banks, and
the one I still hold. Is tHut cotton will
continue to rise until the next glnners'
report, and whether It will continue to
rise after then depends on how high
the price has gone when the report- Is
made,
"The suggestion that was made
months ago In regard to Issuing ware
house certificates with cotton as securi
ty has been adopted In Texas, I see,
and It Is a splendid plan. There Is no
earthly reason why the farmer should
not store hts cotton and be allowed to
lisue or have Issued certificates say to
5J per cent of Ita value with which to
pay off his debts. The cotton 1s held as
security. It is just as feasible a plan
os the banks Issuing currency on bonds
or the railroads meeting pay rolls with
bonds.”
10096 Combustion
Low in Ash.
High in Carbon
Phone 656.
CIGARETTES DID IT,
SAYS BOY’S FATHER
$ 4.00 Butter Dishes, best quadruple
plate
$ 2.50
15.00 Tea Sets,
Li
46
10.00
4.00 Syrup Pitchers,
Li
44
2.50
5.00 Fern Dishes,
LL
(4
5.25
.75 Child’s Cups,
Li
44 y
.38
4.00 Cake Baskets,
LL
44
2.75
x 2.50 Shaving Mugs, “*
Lt
44
1.75
7.00 Baking Dishes,
LL
44
5.00
3.00 Bread Trays.
LL
• 4
2.00
5.00 Waiters,
(<
44
3.25
SEE WINDOW DISPLAY
King Hardware Co.,
^ hamHi
53 Peachtree Street.
The Georgian's popular toting contest Is
opeu to all respectable women In Georgia
between the years of 15 it ml 60.
Anyone can nominate a candidate. It Is
not absolutely necessary to oso tho nominat
ing blank printed In The Georgian dally,
although to do so is more regular. Simply
sending In votes, whether clipped from The
Georgian dally or npon pald-tn-advnnco sub
scriptions amounts to a nomination. The
otlng coupons, printed dolly In Tho Geor-
Jon, count for lire r“‘* ' “"*■ ’
nnd one vote nfter sove
he sent In promptly. C ~
one with full name nnd address.
Every yearly psld-ln-ndvonce NEW sub
scription counts for 2.403 votes; OLD sub
scription 1,200 votes. Every six months paid
In advance NEW subscription counts for
1,000 votes; OLD sulMcriptton 500 votes.
Every three mouths, paid In advance. NEW
subscription counts for 400 votes; OLIhtub-
■rrlptloti 200 votes. Every one month, paid
tu advance, NEW subscription counts for
100 votes: OLD subscription 60 votes.
A NEW subscriber ts one who Is not now
taking The Georgian. A chungo of name
without change of nddress does not consti
tute s new subscriber. Where a subscrip
tion Is changed from one member of the
will not be accepted ns such In this contest,
tine who stops The Georgian for a ’short
Ittmo nnd re-subtrrihes for the purpose of
securing more votes In this contest will not
accepted os a NEW subscriber.
nf.n
to pay up post due subscript Ions. A past
duo subscription hns to be puld up before
votes arc Issued on a pald-In-advnnee sub*
scrlptlon to tho same party.
New subscriptions count for twice as
mnny votes ns old subscriptions.
The city of Atlanta is divided Into fifteen
districts, tho suburbs Into five districts
and the stato Into ten districts.
There are four grand prizes—$1,000 In
gold, a $2,000 touring car automobile, a $760
Grand I'lano, and a $650 Runabout Antomo*
Idle. These prises go to the four con
second choice and so on for the third
and fourth highest contestants.
One contestant can win only one prize.
There are ninety districts. Three prizes
will l»e nwarded to each district. Irre
spective of the number of votes brought In
front any other district.
The fourth contestant In district one may
trlct 30. but the contestant In district SO
II get first choice of the prizes for dis
trict 30. in this way three prizes will go
to cnch district. The four successful con
ceive any district
One prize only to each successful com
testsnt •
The district prizes nre: Ten Klngsberry
pianos furnished by tho Cable Plano Com
; 20 trips to Cnba, nil expenses paid
..... time of leaving home; thirty scholar-
No votes nre Issued on money brought in ships; fifteen dlaraoud rings, and fifteen
pop*
by n
by a committee of leading cit
R. 0. CAMPBELL COAL CO.
"Judge Broyles, that boy has simply
smoked cigarettes until his mind Is abso
lutely gone. Cigarettes have robbed him of
his sense of self-respect, and he Is not re
sponsible for onythlug he does. I want to
have him placed In the asylum, ao he can
be cured.”
This statement was made In police conrt
Wednesday afternoon by M. Wtnegardner,
of 106 Auburn avenue. In defense of his son,
C. E. Wluegardner, accused of taking
money from the cash register In the bakery
\. It. .Schwltserlet, 126 Marietta street.
Yell, I don't believe In this way of al-
ug ernsy people to run smnnd at large
until they commit some crime,” responded
Recorder Broyles, ‘if they are crazy they
ought to la* confined as soon ns It becomes
known they are Irresponsible. ! sm going
to bind this young man over to the state
courts for larceny from the house and let
■y In the Tower awhile. I think tl| t
him.”
him stay I
Wlnegardncr’s bond was fixed st $*»
Ills father Intimated he would swear oat a
writ of lunacy, so the question of sanity
nuild Iks iletnnnfMed.
tc Tiie Household Surgeon”
Dr. Porter’s
Antiseptic
Healing Oil
A Household Surgi
cal Dressing for al)
wounds, sores and
skin diseases, whe
ther slight or serious.
Relieves pain- antiseptically cleanses-quickly heals.
It is sought after and continually used by all who give it a
first trial. Nearly all Druggists now sell it. 25c,
PLAN OF GEORGIAN’S POPULAR
VOTING CONTEST
gold watches.
Subscription
One year, $4.60; mumun, #..w,
mouths, $1.25; ono month, 45 cents.
Request for ballots must be made fit time
subscription Is paid.
Subscriptions can be secured anywhere.
Contestants ara not restricted to their dis
trict In securing subscriptions.
The money must sccoinpuuy all subscrip
tions for votes.
( delivered by them or seut
nyloyce
member of the family 1
Is eligible to become a contestant.
The voting coupon Is published dally In
The Georgian. Irive votes first week, ou«
vote thereafter.
Don’t havo to be a subscriber to bo a
contestant.
The Georgina reserves the right to pass
upon candidate’s eligibility.
All subscriptions must have name nnd
number of street or R. K, D. route plainly
written.
Contest opened Friday, November 14, J
o. m.. and closes Saturday, midnight. Feb-
nary 1,-1908.
Write r or call at The Georgian office for
any further particulars nnd for blanks.
Send all subscriptions, remittances and
letters to The Atinntn Georgian Contest
Department, Atlanta Georgia