The Key West Citizen Newspaper, October 28, 1936, Page 2

PAGE TWO The Key West Citizen Published Daily Except Sunday Ry THE CITIZEN PUBLISHING CO. INC. L. P. ARTMAN, President 4UE ALLEN, Assistant Business Manager From The Citizen Building Corner Greene and Ann Streets Only pally Newspaper in Key West and Monroe Cc t . Member of the Associated Press -ke Associated Press is exclusively entitled to use ‘or republication. of all news dispatches credited to it or nbt otherwise credited in this paper and also the locat news published here. RATES SUBSCRIPTION One Year .. six Months Three Monthi One Month Weekly ... ADVERTISING RATES Made known on application. SPECIAL NOTICE All reading notices, cards of thanks, resolutions of cespect, obituary notices, étc., will be charged for at the rate of 10 cents a line. Notices for entertainments by churches from which & revenue is to be derived are 5 cents a line. The Citizen is an oven forum and invites discus- sion of public issues and subjects of local or general Interest but it will not publish anonymous communi- cations. IMPROVEMENTS FOR KEY WEST ADVOCATED BY THE CITIZEN Bathing Pavifioa A AAOIA ATA Water and Sewerage. Bridges to complete Road to Main land, Free 'Port. : Hottls and Apartments. THU iIDvioOde Airports—Land andjSea. jis te Consolidation ' ef Codhitly ‘and “City Governments. — THE KEY WEST CITIZEN WILL always seek the truth and print it without fear and without favor; never be sfraid to attack wrong or to applaud right; aiways fight for progress; never be the or- gan or the mouthpiece of any person, clique, faction or Class; always do its utmost for the public welfare; never tolerate corruption or injustice; denounce vice and praise virtue; commend good done by individual or organ- ization; tolerant of others’ rights, views and opinions; print oniy news that will elevate and not contaminate the reader; never com promise with principle. Se Love sails under many colors, Beauty is only skin deep, and a lot of us are mighty thin-skinned. This week will witness many persons hedging their campaign bets. The fatty degeneration of the moral nature, though unseen, is just as im- portant as that of the physical nature. Walter Winchell calls Mgr. Pacelli, the “pap-al” secretary of state, instead of “pa-pal.” Might as well say pap-er in place of pa-per. We cite P. E. B, of the Tampa Tribune as authority for the followin, “A Ta- hiti (Persian) lime a¥érhges drefa(le as much juice as a Florida-Keys liMe half as big.” q aang ; “TTT Ty FUT “If people are ‘intercSted my rela- tions with Mrs. Simpson, I will give them something to talk about,” said King Ed- ward when the piece of gossip was made known to him. That seems to mean but one thing: the king will marry Mrs. Simp- son, and that the announcement will soon be made. Most merchants of Key West are over-confident in extending credit, often! to their sorrow. They will read with in- terest that on the window of a store build- ing in Kenosha, Wis., there is a sign which bears the laconic legend: “We trust the people.” To further the interest, it may be added that the building is empty, the owner of the store having gone broke long ago. Editor Penney of Florida Flashes is authority for the news that when Gov. Dave Sholtz moves from the executive sansion he will take up abode in his “$50,- 000 estate three miles east of Henderson- ville.” The handsome residence on the Sholtz mountain acres is being “sub- stantially improved,” Penney reports. The news is of particular interest hereabouts because Sholtz previously had announced plans for making his future home in Mi- ami.—Miami Daily News. CRITICS OF BUSINESS It has long been the fashion for cer- tain writers and speakers to criticize the American people for their commercialism —their desire to make money. While it is true that the mere making of money is not a very high ambition, it must be remembered that it is through our genius for business that. we have been able ! to provide the funds for ~ i things worth while, suchas re “hot | en- |! joyed by any other nation in the same de- gree. - Great sums donated to educational, : religious, charitable and artistic purposes. have been made possible through suce ful business pursuits. Scientific research, the advancement of health measures, bet- ter homes, and the comforts and fefinet ments of civilization generally have been due to the ability of our people to acquire money and to their willingness to spend it for these things, . Many of the high-brow critics of busi- |- ness obtained their education at colleges and universities endowed and made _pos- sible by business men. Business and money- making are} npt the end of our ‘ational ambition, but the means whereby civiliza- tion may be promoted and preserved. THE SHERMAN TREE The largest living thing ‘on earth, and probably the oldest, is the General Sher- man tree in Sequoia National Park, Cali- fornia. By precise observations and cal- culations a committee of engineers deter- mined that this tree was the biggest of the giant redwoods, while the General Grant tree is second in size. The General Sherman tree has a volume of slightly more than 600,000 board feet of lumber; its height is 272 feet and its circumference at the ground is 88 feet. It is estimated that these largest trees are 5,000 or more years old. KEY WEST REFORMS (Miami Herald) ‘the people of Monroe county are making a very simple request of the people of Florida pext month. They are asking that the voters ratify an amendment to the state constitution to cheaper permit them to have less and perhaps govern- ment. | Under this amendment, if adopted, the pres- | ent city of Key West and county of Monroe may be abolished by the legislature, and a single cor- i porate body created to govern Key West and the keys. It will lose none of its rights nor none of the essential officers. Instead of having two or fighting to perform the same serv- imple that people elsewhere may well “Why cannot we have these good things? Why must we devote so much of our to pay don’t ask: time working for money to heed?” The answer is obvious. officials we Officials elsewhere which such changes might be effected. The people Age like a dicorganized army flinging its arms this way and that. are in control of the machinery by ' The officials are entrenched, secure. The principal reason this question can be submitted for Key West is that on July 2, 1934, the city and county officials there were faced with governmental starvation and appealed ‘to Governor Sholtz to take the city, county and school board responsibilities off their hands. The Administration then | moved in and for nearly two years virtually fed and clothed the needy of Monroe county: Of late, with federal approval of a loan to build bridges to “connect Key West with the mainland, it appears that better times are at hand, but the idea of economy remains firmly rooted. sevcwsd Jacksonville and Duval county. in 1934,goted on a proposed merger of*governinents, * forces of the organ'zed politicians were strong enough to defeat it. ; A different situatien_ con: fronts the voters of Monroe. county, ! and“ we Florida Emergency Relief lieve, if given the: chance,, they will approve ‘one set of officials in place of three. Who knows but what other counties in Flor- ida may be galvanized into such action if Key West makes a success? There is little reason ex- cept public inertia why governmental forms which were made necessary by the times of 1885 should still control the Floridians of 1936. Perhaps Key West, from being well-nigh hopeless, will become the fountain-head of reforms which nearly every- one would welcome, but no. one seems able to initiate. TRE KEY WEST CITIZEN You and Your Nation’s Affairs The Game of Put and Take By CLARENCE W. FACKLER Associate Professor of Economics, New York University Although bank depositors undoubt- edly have realized that they are re- ceiving low rates of interest and that their dollars, when withdrawn, buy H smaller quanti- ties of goods not all of them have realized the extent to which govern- ment policies are responsible. Uniess the bankers them- selves inform their deposi- tors, they must, of course, carry a-large part of the burden of responsibility. As it happens, most depositors are not fully aware of participating in the wholly one-sided game in which the government is now the chief beneficiary. Neither are they conscious of the hazards, Basically, there is some resemblance between what the government is do- ing and slot-machine games of the “put and try to take” variety. The fundamental rules, however, have been copied from the pages of history a e back as the Fourth Century Seemingly, the object of the game is to keep depositors “putting” their funds into banks, while the Treasury Department does its utmost to “take” as much of the earning and purchas- ing power thereof as is possible. Apparently, the skill lies in the De- partment’s ability to drain off large sums without either attracting the attention of depositors to their own impoverishment, or without reducing their passbook balances. Germany, Russia, and some of the other European countries tried their hands at the same game after the World War, but, foolishly, used paper currency from the start, and so gave themselves away too quickly. Playing the game the American way, the government has so far gained control of the Federal reserve banks. And, by furnishing financial | assistance to certain banks, it has be- come the virtual manager of about 6,000 of them. Besides, the Treasury has become the principal customer of all banks To them it sells government bonds on its own terms, maintaining the mar- ket prices thereof artificially. In sub- stance it receives the banks’ credit. but in reality what it gets is the sav- jings of deposi tors. “Bankers,” the “money-changers” of 1932 have, thus, been re-cast in the dual réle of “credit-changers” and of mere“book- keepers by 1936. Of course, meeting huge govern- ment expenditures in this, way has meant the scrapping of well-tried banking principles. Diversiffeation of loans and investments, limitations an the amount of loans, and insistence upon their self-liquidating Character have all been ruled out. In fact, gov- ernment obligations already amount to approximately three times the country’s total banking capital. In addition, interest rates have been forced to lower levels, so that, con- sidering the risk, funds cannot be loaned profitably to private’ business. Consequently, bankers have become more willing to lend to the, Treasury, while depositors have earned less on their balances. ¢ At the same time, no concern what- ever has been manifested in govern- ment quarters over the destruction of independent banking, over the accu- mulated deficit which will amount by 1937 to at least $21,000,000,000, or over the phenomenal increase in’ bank de- posits to approximately $50,000,000,- 000. Still more, says the President, must be spent for relief and drought prevention, however burdensome fu- ture taxes may be! Yet, the higher the deposits become and the more they are used, the nigh- er prevailing prices become. As prices advance faster than deposits, the pur- chasing power of the funds are con- stantly sapped by the Treasury. in reality, therefore, the entire affair of heavy indirect taxes, momentarily painless because they are invisible. Of course, it is impossible to safe- guard depositors against these losses. Loaded as banks are with government securities, about the only kind of losses which could be insyred against are those arising from a depreciation in prices of government bonds. Curiously, however, almost all of the insurance fund, established by the Federal Deposit Insurance Cor- poration against such a contingency, is composed of government obliga- tions. Bonds are guaranteed with bonds. So, in times of financial strin- gency, paper currency may have to be printed and the experiences of Germany and Russia may be dupli- cated. The sooner bankers communicate these facts to their depositors, the better. Surely, it is no time to keep’ such information from those most concerned. (Address questions to the author. care of this newspaper) Today’s Anniversaries $@OCOCe Leer egneseceeecee: 1728—Capt. James Cook, Eng-} lish navigator-explorer, born. Die Feb. 14, 1779. 1792—Brastus Fairbanks, Ver- mont manufacturer, scale inven- tér and govethor, horn.at\Brim- |field, Mass. Died Nov. 20, 1864. 1793 — Eliphalet Remington, New York gun manufacturer, born at Suffield, Conn. Died Aug. 12, 1861. 1801—Henry Inman, noted and ve Y. Died in New York City, Jan. 17, 1846. 1836—Homer D. Martin, scape painter, who, with his fam- ily, led a m‘serably impoverished Ife, the last pait of it in St. Paul, Minn., whose pictures were unsal ab'e when he needed the money, but began fetching fabulous prices immediately after death, born at Albany, Y. Died Feb. 12, 1897, 1836—Simon Wolf, noted Amer- ican lawyer and Jewish born in Bavaria. City, N. J., June 4, 1923. IRid oses Ezekiel, ¢2cbrat. ed sculptor, born at Richmond, Va. Died March 27, 1917. tle artist, born at Utica, N./ land-! leader, | Died st Atlantic i N ! e \'‘loday’s Horoscope ee ecce The impulses given by this day are more active and forcible, nd in the stronger natures even violent and rash. The inclination is toward reforms, and idols’ will -be .ruthlessly upset, -,and. often those things destroyetl, which the native has not the power:to rebuild on a better foundation, Guard against this propensity, since it ‘may result in blighted hopes. jnew formula for curing hams to | sive the meat a maplejfiavor. The Philippine Islan# legisla- ture is p'anning new taxes on foreigners and corporations. from and to Boston, New York, Miami, Jacksonville, Galveston, Cc. E. SMITH, Key West, é * The Easiest Way For You To Pay For A Home pay for it as you pay tent. The logical way _ is to pay monthly, out of income, an installment > onthe principal and the interest, etc., and thus, over a given period of it to yourself. years, pay off the entire mortgage and have the house free of all debt. It’s very much like buying a house and then renting CONSULT US HOW YOU CAN BUILD OR BUY A HOME OR REPAIR OR MODERNIZE ANY TYPE OF BUILDING ON INSURED CREDIT. The First National Bank ot Key West Member of the Federal Deposit Insurarite Corporation amounts to the immediate imposition | MM F the Ht r : iH 1 | fh tl t | Marcus H. Kohn, who was tured for the second time in ami on a charge of issuing less checks, was brought back to Key West this morning. Officer, ; Everett Rivas was in charge o the prisoner. It is expected Kohn’s preliminary hearing be before Judge Hugh Gunn {Morrow morning. | \ i | | i i | ] wn i i 1 i. i i i [ i ; 1 A. R. Hoffman of Pensacola is) now temporarily the deputy col. lector in charge of the internal | wi revenue office in Key West and | ington, is located in the second floor ofjeq as the commandant the postoffice building. Thomas! northern division. R. L. Thompson, who formerly} ania held the position, is in Jackson-, |. P. Artman, publisher ville awaiting an appointment to| Citizen, who has been ; another sphere of action. ! six weeks visiting in | points im Indiana and Wm. R. Porter, president of] tions, returned this morning the First.National Bank, and Mrs.| the East Coast. While i= = Porter, who have been enjoying a} delphia Mr. Artman attended trip of about 10,000 miles and! Tunney-Dempsey bout, and |covering a period of one month,! took im the festivities of the {returned yesterday. They visited) qui-Centennial Exposition eastern cities, the Canadian north-|had the pleasure of | west, and the Pacific slope, as far|some of the games of ; South as Los Angeles, where they!series between New Y. | attended the meeting of the Am- Louis. erican Bankers Association. ! Editorial comment: | might learn a political j two from a town in Chile, where interesting but werg sital elk in’a recent election 291 per cent the suppression of gmncceeary SAMPLE BALLOTS For General Election November 3rd [Key Westers will take place this {evening 6:30 o'clock in St. Paul's ——NOW ON SALE AT—_ church when Miss Eliza Pelaez, daughter of Mr. and Mrs. Jose THE CITIZEN BUILDING lilf A f & 4 HL a4 uttel Mi [ uw | 5 i In a very imteresting talk today Tammany at the Rotarian funchees, De 4 » ) w % * . ‘ . . ) N . . . * ‘ 3 Pelaez wil wed Dr. Amando Cobo, prominent dental surgeon of this_ city. Immediately following the ceremony the couple will leave ‘over the East Coast for Daytona, Fla.. where they will remain for several days while the doctor at- tends a convention of state den tists. (Mr .and Mrs. Elthege White, of Lawrence, Massachusetts, are spending their honeymoon in Key West and are guests of Mr. and Mrs. William White of 1013 South street, Five husky young fellows, travelling as hoboes, were taken from a train of the Florida East Coast Railway yesterday at Pigeon Key, and held on a charge of vagrancy. Deputy Sheriff Bob * Kyle telegraphed Sheriff Niles 5 that he was sending them to Key: OO @O@ OOOO LOLOL ILL L LS. FALLLLALLLLLLL LL Mm . (AAA Adhd hhh hadeadade dada *. | LPP MLI ODO II IIA DIDI DI III III IIIS 1x4 Ideal Flooring . . $40.00M This is a new item with us. Et is made up of lengths from 18 inches long te 7 feet feng, and & tongued and grooved on ends as well as sides’ Kt = put up in bundles seven feet jong. Bundles are act broken, nor are any returns allowable o= thus floor- except that the lengths are short Et is cuceiicat for laying over old floors. —'SaLa La aL aL a. A SPECIAL SPECIAL 1x3 Sheathing, No. 3 Common, highly graded. good for sheathing for roofs, or for sub-floors; stor= sheathing, etc. $25.00 M MO mo * SOUTH FLORIDA CONTRACTING & ENGINEERING C0. “Your Home Is Worthy Of The Best™ White and Eliza Streets Peace 53% WOOOIIIOIOOO POLIO OIOIII Ss: tn shalt tial ath ahah aha ahaha ahah aha ahah ahahaha m