Life — August 17, 1911 — page 10: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

AT LIFE'S FRESH AIR FARM THE GIRLS’ BATHING HOUR Life’s Fresh Air Fund Inclusive of 1910, Lire’s Frese Aim Fuxo has beeu tn operation twenty-Jour years. In that time it has expended’ $126,447.44 and has given a fortnight in the country to 32,730 poor city children. The Fund 1s supported entirely by bequests ond voluntary contributions, which are ac- knowledged in this column, Previously acknowledged.....+++++ «$6,585.32 emily 11. Co Proceeds of a Fair held by d little girls su Taylor, Eleanor Alexander, Schmuck. Heten Nill, E Marriet Chapia Macdona’ 40.00 Wilson or . sees 10.00 Ruth W. Chardler. : $00 yOE., Ham eeeeee 3.00 Interested, Louse’ Taylor 22222)" s.00. M. Warren.. 1 adlo0 m & Jerryeccs I oo The Wainscott Children *....111 se Bayard itiackweil, Junior”. s.00 S. Johnston........cceseeceeves 10.09 $6,796.48 A POSTAL FROM LIFES FARM Dear Aust Mamie arrived safly all i. well happy is so nice up here on the the boys go in bathing in the dl giels in the afternoon From Acxes — Scientific Circulation the meeting of the New York State Bankers’ Association, held recently at Manhattan Beach, one of the principal speakers was Mr. Joseph T. Talbert, vice-president of the National City Bank, Among the reasons he ad- vanced for the Aldrich plan, he said it would effect: “The eventual abandonment of our inclastic and unscientific bond-secured circulation.” He is right about the bond-secured cir- culations being unscientific. It is highly unscientific in that, by introducing pri- vate interests between the people col- lectively, upon whose credit the money is issued, and the people severally, who use the money as a medium of exchange, it unduly complicates the monetary sys- tem, besides conferring a special privilege upon the National banks. But is there any respect in which the Aldrich plan is not less scientific? Or is there anything scientific whatsoever about the Aldriclt plan? Or is there any- thing scientific about Aldrich himself or about his financial running-mate, Vree- land? If we are really after a scientific cur- y. why not hire a few scientists? Scientists do not run for office. Our Business-Like Government The following is a perfectly true ac- count by a gentleman who recently bought three millions’ worth of Panama bonds from the Government: IRST it was necessary for me to deposit 2 per cent of the amount of the bonds; I therefore had a certified check made for $60,000, which was handed in at Washington with my bid for the bonds. After the bids were opened I received a notification that three million of the bonds had been rded to me at the price I had bid, which was something over 103.40. Armed with this paper, I went to the subtreasury in New York, and, after some difficulty, saw the gentleman in charge. He told me that there was no telling exactly when the bonds would be issued, but that if I wanted them I would have to pay the mone “Won't you accept a certified check on a national bank?” “Yes, but we won't acknowledge pay- ment until the checks have been cashed and we have legal tenders in hand” I was obliged to get $2,930,000 of the initial payment in cash from the bank, a messenger accompanying me with the cash, When I arrived at the subtreas- ury I started to deliver this money I was informed that I was sixty thousand short. I showed my acknowledgment from the Government. That made no difference, I then suggested that Wash- ington be called up over the telephone, at my expense, This was done. The treasury department knew nothing about it. I then went back to the bank, covered that the certified check for sixty thousand had been cashed in and can ccled. Armed with this, I returned to the subtreasury. Washington was again called up, and after an interminable time, the authorities there at last locat the amount and said that I could get my bond award on payment of the three millions less the sixty thousand which they were willing to admit had been re- ceived. When the two million and nine hun- dred and forty thousand had been handed over, a slip of paper was handed back. This contained the words, “ Re- ceived 2,940 on acct. Panama Canal bonds,” but the receipt was not nego- tiable. “What good is this?” I asked. “If you are not to let me have the bonds now, how can I borrow the money on this receipt until they are ready? It made no difference. For every question I asked the only reply was that comicbooks