Federal Reserve Protest Editorial Reported
Under the date June 18 1920 W A Heath chairman of the Federal Reserve bank of Chicago sent to The Press the following editorial appearing in the Dallas Morning News Dallas Tex Friday June 11 1920.
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Newspaper
Inter Mountain Globe
Location
Hulett, Wyoming, United States of America
Date
Jul 01, 1920
Page
3
Under the date June 18 1920 W A Heath chairman of the Federal Reserve bank of Chicago sent to The Press the following editorial appearing in the Dallas Morning News Dallas Tex Friday June 11 1920.
Banks raise discount rates in step with Federal Reserve rediscount hikes. The piece argues this profiteering undermines the Fed’s purpose to provide credit liquidity in stress, noting most loans remain funded by member banks and warning of harmful effects on the economy.
A clipping describes English rail workers adopting a “work to rule” tactic on May Day. Rather than striking, they would strictly observe every railway rule, risking delays and fatigue. The Spectator notes the plan failed to achieve objectives, while Morning Post columns warn of unintended costs to passengers and workers alike.
Modern science notes that radium can alter the appearance of gems. A sapphire, or corundum, has allegedly been transformed into a brilliant ruby by prolonged radium exposure. The piece discusses alchemy, zircon, and the illusion of changing stones while noting chemical similarities.
A London Spectator discussion compares Joan of Arc and Pitt via belief in inner voices. It notes Joan’s trial by Burgundian clerics and Pitt’s confidence, suggesting trusted inward prompts shaped decisive actions and judgments in their respective eras.
The remark frames career as the triumph of personality, asserting that nothing in the world counts as much as a strong and honest character. It emphasizes moral qualities over external success in shaping a meaningful life.
The New York Times notes feminine energy at the Republican convention. Two women delivered the keynote moment, with Mrs Douglas Robinson praised Theodore Roosevelt and Leonard Wood. The piece compares their stagecraft to Mark Antony and cites Theo dore Roosevelt’s political influence through the Antonine method. References to Mrs Robinson, Leonard Wood, and the Roosevelt circle appear amid broader convention commentary. Also mentions a German prisoner of war in Dorchester and a US board of appraisers ruling on canned whale meat duties.
A thrift essay argues only two fixes for living within income increase earnings or trim living standards. It critiques Americans for buying excess luxuries beyond what production can support and notes many budgets hinge on spending more than necessary. The piece urges practical budgeting and restraint to achieve sound economy.
Chicago officials clash with the state over a new 6 cent fare increase for surface car lines set to take effect July 1. Assistant Corporation Counsel Cleveland said a suit would seek to overturn the order, arguing the raise will boost company revenue by about 14 million dollars annually at the public’s expense. Petitions also seek higher fares in Aurora and Elgin from 8 to 10 cents.
Arkansas City Kansas June 22 harvesters move into southern Kansas fields after rain and cool weather. Farmers expect a strong cutting front mid week with labor from Caldwell and Wellington arriving. Kansas eyes a third largest crop as favorable weather boosts yields despite winter drought and dust storms.
Washington announces the tentative schedule for the 21st annual encampment of the Veterans of Foreign Wars set to start September 13. Highlights include a welcome reception, Arlington memorial services, Mount Vernon trip, a parade with five military bands, a banquet for officers, and addresses by General Miley Admiral Lima and Rep Royal Johnson. About 9,000 delegates and families are expected with a fund of 10,000 guaranteed for reception expenses.
Washington June 22 Bainbridge Colby secretary of state had a final conference with President Wilson today before leaving for San Francisco by way of New York to attend the democratic national convention as a delegate from the District of Columbia Colby will be one of the presidents spokesmen at the convention Five other cabinet officers will be present at San Francisco They are Postmaster General Burleson who goes as a delegate from Texas Secretary Daniels Attorney General Palmer Secretary Meredith and Secretary Alexander
Allied premiers push to force Turkey to sign by June 26 as discussions consider Turkish territorial changes. Foch and Wilson approved notes on disbarment and demobilization while reinforcements plan to defend Constantinople and the Straits. Debates over Russia dominate the unsettled agenda amid fears of large troop deployments and political reforms.
Chicago, June 22. Republican leaders, after an all day conference, expect Governor Lowden to announce he will seek renomination. Key figures including Senator Sherman and former Governor Deneen urged him to run amid tensions between down state Republicans and the Chicago Thompson faction. Lowden previously defeated in the presidential race but united the Hlinda delegation at the national convention after Mayor Thompson bolted.
Police report a likely record daylight robbery at A. Russo & Co. warehouse in Chicago. About 440 cases and 22 barrels of whisky, plus 10 cases of imported cheese and 20 canned olives, were stolen and loaded onto trucks unseen before workmen noticed. Whisky lifted from basement via freight elevator.
Southampton England June 22 Colonel House laughed when asked if he came to urge Ambassador Davis to seek the Democratic presidential nomination. He said his European visit is personal and there is nothing to the rumor.
In a bid to recruit seamen, proponents argue better conditions in the American Mercantile Marine will draw Dylllah mariners away from British and American vessels alike. The movement emphasizes improving pay, living standards, and career prospects to win crew from competing flags.
Chicago June 22 William F McCombs former DNC chairman reopens feud with President Wilson. He attacks Wilsons League of Nations policy and autocracy claims, says America pledged to nothing and demands a return to true democracy. McCombs backs Cox and suggests Bryan will influence formal speeches at the convention.
Chicago police traced disaffection fueling a deadly parade riot linked to the Abyssinian Order of the Black Star. Leaders, including the alleged high prophet Jonah, were arrested or hunted after two men were killed and several wounded. Fern a, last seen on a colored tunic, remains at large as investigations continue.
Dublin reports Londonderry in open civil war as armed bands clash and authorities falter. Martial law looms possible while looting murders and street fighting disrupt daily life. Rival factions attack troops and civilians hide as bodies and wounded rise.
In Columbus the roller mill owned by Gus A. Schroeder was destroyed by fire aided by a strong north wind and low water pressure. Loss estimated around 70,000 dollars. In Lincoln twenty seven factory new automobiles plus tractors sewing machines and storage goods burned at Star Van and Storage Company totaling 60 000 to 75 000 dollars with coal sheds ignited.
Salt Lake City June 22 arrest warrants charge H J Grant and W Sib ley Nibley of the Mormon church with profiteering in sugar. Grant heads Utah Idaho Sugar Co and Nibley is vice president and general manager. Warrants allege sales under the 23 48 annual price as of May 1 and declare the price excessive under the Lever Act. Four counts list profiteering. warrants issued by U S Commissioner Tanner in Pocatelto.
Springheld Missouri on June 22 saw Jodah Starick, aged 103, claim the local age record for airplane flights by finally taking to the sky after many years with feet on the ground.
Alaska readers learn of a January deadly clash in Anadyr Siberia between anti Bolshevik natives and alleged Soviet agents. An American owned trading store was looted as twelve to seventeen people, including the Kolotuite regime governor, were killed. Americans MeDick and Biand relayed the tale via captains and crew who stopped at Anadyr during a January voyage.
Washington June 22 chairmen announced that Senator Harding would be formally notified of his nomination July 22 in Marion Ohio. Hays to head the drive with Daugherty remaining active and Chicago as the central hub for the campaign plan and executive committee setup.
Washington June 22 The White House and San Francisco were directly connected by telephone for the first time as Democratic leaders began to assemble for the national convention. Joseph Tumulty talked with Homer Cummings chairman of the Democratic National Committee. Tumulty called it a wonderful connection and said he could hear clearly as if speaking across the street.
A Burlington passenger train wreck near Pyadwood, 8 PD, June 22, left the baggage car end chair overturned. The engineer and conductor remained aboard. 12S Spiter, Deever, and a Pullman passenger Wis were injured, no fatalities reported.
On Washington date June 21 reports allege suspect J. W. W. involved in instigating a major strike. Authorities note ties to labor groups in Philadelphia and New York harbor areas. Investigation moves toward the Department of Justice as longshoremen resist outside interference.
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