The Nonpartisan Leader Newspaper, November 11, 1915, Page 16

PAGE SIXTEEN THE NONPARTISAN LEADER As the Humorous Artists Look at szé Vlsitlng Clergyman—Have patience. Remember it took Milton fifteen days to complete one page. Convict 658—O0nly fifteen days? Why, I've been six years on one sentence, and it ain’t half finished yet.—St. Louis Post-Dispatch. NOT ALWAYS “Father,” said the minister’s son, “my teacher says that ‘Collect’ and ‘congregate’ mean the same thing. Do they?” “Perhaps they do, my son,” said the venerable clergyman; “but you may tell your teacher that there is a vast difference between a cangre- gation and a collection.”—Christian Register. Interminanie. “What do you think wiil be the end of the woman question?’ “There won't be any end. They'll always be asking ‘'em.” — Pittsburgh Press. SAME THING A newly enrolled volunteer was rather alarmed during his first ex- perience of a sham battle, especially as he heard the colonel in command say That everything was to be done as in actual warfare. No sooner was the first blank cartridge fired than the frighfened soldier dropped his gun and took to his ‘heels. “Hey! where are you running to?%” shouted the captain, as he fled past him. “Oh,” said the man, “it is all right, sir. I am just doing the same as I would do in actual war.” Meeting the _Enamy. Policeman—Well, what doyou want? Mr. Pewes—I've been out late, and I'm on my way home to meet my wite, and I'd like to know what affords the- most protection, a Red Cross badge or a flag of truce.—Exchange. HIS BY RIGHT An Irish chauffer in San Francisco, who had been having trouble with numerous small” boys in the neigh- borhood of his stand, discovered one day on examining his car that there was a dead cat on one of the seats. In his anger he spied a policeman. Holding up the carcass, he exclaim- ed: “This is how I am insulted. What am I to do with it?” “Well, don’t you know? Take it straight to headquarters and if it is not claimed within a month it be- comes your property.”—Harper’s Magnzine. Too Sudden. The slave has Jjust been granted a monthis vacation from the office. His wife is on a visit to her mother. The canary is dead, and -now he doesn’t know what to do with his freedom.— Boston Journal. TODAY’S BELL RINGER A prominent New York clergyman through his study window once spot- ted an unwelcome caller coming ‘up the parish- house steps. He sought refuge in an upper room while his wife remained below to talk to the woman. After a while, hearing no sound, he tiptoed below and entered the parlor. “Has that horrible old bore gone?” asked the pastor. The bore was still in the room but the wife’s quick wit saved the day. “Yes, dear,” she replied, “and Mrs. Parker is here now.” ; The Federal Reserve Bank---Why It Don’t Work By Hon. Charles A. Lindberg, Congressman from Sixth Minnesota District When the authorities at Washing- ton sit idly by and witness the re- cent conduct of the Reserve Bank- ing Board it is time for the'indi- vidual states to take the initiative for the benefit of their individual citizenship. The ‘reople of Minne- sota, for instance, who have nearly half a billilon deposits in . banks, should use that capital to finance their legitimate industries instead of allowing a large part of it to be diverted to Wall Stdeet speculation. The Money Trust, which controls the so-called Federal Reserve banks, fol- lows the same old practice that it did before the Federal Reserve banks were organized, and now with less risk to itself. Wall Stree: sreculat- ors still borrow on cell at from 1 to 2 rer cent and use the mcney to exploit the people. When persons not in the trust wish to borrow for legitimate business or industrial pur- poses, they are forced to pay as high or higher rates than before. They are informed that it is cauzed by the war. - The speculators have tied us to the war by this false financial system. Examples are continually bafore us that teach us the folly. of those responsibles for the new: Fed- eral Reserve Bank Act, and -othecr fakes of earlier days impos=d by boss politicians. . ; Cheap for Speculators. Wall Street speculators often pay IF. YOU ELECT ME 1 SHALL 0BTAIN STATE HAIL INSURANCE AND as low as 1 per cent and seldom above 2 per cent interest, while on the other hand the legitimate indus- trial . _and’ * business_ interests have found it difficult-to borrow enough money at any price. Whether we ex-. amine the press files for the last year or for twenty or more years, we find practicallly the same story of con- trast between the interest rates the Wall ‘Street speculators pay and what the industrial and business in- terests . pay. ~ A single transaction il- lustrates the practice, for it goes on the same way practically all the time. Take the press reports of Sept. 16, 1913, as the examrgle, for it is- the story of every day. It 15 as follows: New York Money. “New York, Sept. 16.—Call money steady; high 2 po- cent; low 134; last loan 2 per cent; closing bld 134; offered at 2. . % “Time loans easy; 60 days 21/2 per cent; 90-days 23 per cent and 3 per cent; six months -3 per cent. Mercantile paper 3% per cent and 33 per cent.” In the same paper the following arpeared: -~ » “The ' Federal Reserve Board in Washington yesterday approved a rediscount rate of 4% per cent on commercial paper of 60 and 90 days maturity for the Minneapolis Reserve WAIT ‘TIL I'M ELECTED L'LL GET YOU:A BIG TERMINAL, ELEVATOR! bank. The rate heretofore has been 5 per cent for that class of paper.” The Banker’s Bank . " The-federal. reserve banks are the banker’s banks, and conveniently for tke speculators, are prohibited from doing business with the plain people The one in Minneapolis is in the greatest. agricultural district in Am- erica, and like the: other eleven re- serve banks is a feeder to the Wall Street operators. If member country banks, which the law forced to join, wish to borrow, they must pay 4% per cent and 5 per cent and natural- ly :charge those who borrow from them several additional per cent.. “The nigger in the wood pile” they try to conceal by tellilng us that the speculators are prohibited from bor- rowing from the federal reseve banks on - speculative paper. . The: prohibi- tion was purposely made to fool the public, Board Serves Wall Street. The Federal Reserve Board was: ed- ucated to believe in the Wall Street ways, and compels the member banks, if they borrow from the federal re- serve banks, to pay 4% and 5 per cent, knowing, of course, that: they will not- borrow extensively at those rates when they can borrow for less from the Wall Street banks, of which Street rates are from 1 to 2 and 3 per cent the country banks will not pay the reserve banks 414 and 5 per cent. ‘As the reserve banks cannot loan except at the figures fixed by the Wall Street Educated Federal Reserve Board, the legal re- serve: of the country:banks piles up in the federal reserve banks. There it is most of the time unemployed. It is taken from the member banks so they cannot loan it to the plain borrowers. That 1is exactly what Wall Street " wants. Why Federal Money [Is High. The Federal Reserve:interest rates are kept high to insure the spec- lators safety while they exploit the people-. for. billions of dollars. -As long as the reserve banks have large surpluses, “the 'speculators can- keep up their scalping.- If they should be caught in a trap, their-bavks will raise interest rates and force . the country banks to. borrow from the reserve banks, In:that' way Wall Strcet! banks, ‘which are controlled by the speculators, relieve themselves when they wish it. They too, can borrow from the reserve banks on notes eligible to re-discount.. The money-they collect from the country banks and what they may borrow from, the Federal Reserve, they can there is one or more in every large |loan to speculators. It has the same city. - Consequently when the Wall|effect as loaning on speculative paper. NOW YoU' SIT RiGH THERE AND I'WILL BRING YoU. ALL THESE THINGS YES SIR L As’qu'r—_, You Y WONDER WHAT'S , (KEEPING HIM T GUESS I'M SOME OLD RUBE!