Life, 1911-08-03 · page 27 of 40
Life — August 3, 1911 — page 27: what you’re looking at
What you’re looking at
This page contains three satirical pieces from *Life* magazine: **"Elastic Currency"** critiques the proposed Aldrich banking reforms. The cartoon shows men jumping over hurdles, illustrating how bankers want "elastic currency"—the ability to lend out deposited money while still claiming to have it available. The satire argues this is essentially financial magic: money that exists in a vault only when depositors want it, but circulates elsewhere earning interest for bankers the rest of the time. It's mocking both the obscure jargon ("elastic currency") that puts people to sleep and the self-serving arrangement it conceals. **"Was It Hot?"** is lighter satire about an unusually hot summer (July dates given), joking that the extreme weather must result from the Sherman Antitrust Act disrupting nature itself. The humor lies in blaming reform laws for everything, and noting that men suffer more heat prostrations than women because men don't own lightweight clothing—while wealthy women do. **"The Social Leader"** is a brief satirical formula for creating a society woman: take willpower, add millions of dollars, property exposure, and diamond jewelry.
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Elastic Currency HE ostensible purpose of Aldrich’s Big Bank is to secure “elasticity of the currency.” This is a soporific phrase. Just as soon as a banker or politician mentions it, part of the peo- ple go to sleep, part of them begin to think of something else and part of them nod approvingly without thinking at all. Now, when a banker says he wants “elasticity of the currency,” what is he really after? He is after an Aladdin-like arrange- ment which will convert void into vol- ume at a moment's notice. He is after an arrangement which will allow him to receive unlimited deposits, lend them to unlimited borrowers and still have the money when the depositors want it. When a currency is not “clastic,” money which is not in a vault is some- where else. When it is “elastic,” it is in the vault only when you want it. The rest of the time it is out accumulating interest for people who do not own it. More Than Good “7S he a good man?” “Good? I should say he was. He is willing to forgive not only his debtors, but even his creditors.” MALL boy to very fat man standing on a penny weighing machine: Put another penny in if youse wants to get your full weight. Was It Hot? OT as blazes from July 2d to July 7th! Hot as blazes again begin- ning July roth! What is the matter with this summer? Lawyers intimate that the Sherman law has got into the whole scheme of things and crazed them, and that the great processes of nature are affected. It is a wonderful summer for bugs. The heat brings to life all the possible bugs, and probably invents many new kinds. We can’t help excessive heat, and that is some comfort, because we are saved at least from the reproaches of reformers that we have selfishly neglected to put blinders on the sun. It is almost a relief to have something killing happen that can’t be laid to the interests, nor to Tam- many, or the labor unions, or any of the usual defendants. But this heat-relief is easily over- done. We have had enough. We would do better, of course, with ex- treme heat if we had it regularly. We would wear pajamas more, and our ward- robes would include provision of scer- suckers, pongees and nankeens, and New York would be full of pith helmets. But as it is, we so seldom need very thin raiment that the general run of men in these latitudes don’t keep it in stock. Women do, and that may be one reason why two-thirds or more of the names in a list of heat prostrations are usually names of men. Take the heat as easily as you can. Think of it as the heat-cure; that helps. THE SOCIAL LEADER Take any old thing with a cast iron will, * Add millions and millions of ducats. Add a northern and southern exposure to this, And sprinkle with diamonds in buckets.