SOME GOOD MCE

Pormtr 8* *crrt»ry Oa«^ and Congmomari Fowlar on tha Dopoait Ouarantaa.

THJ WALSH rAUVBS CITED

Qaarinf Haaaa Action paaadby*

trda AjCKlnM Uanrmt Hanker* Oat •ring Kan*- Modern tijorm at Credit*—Bankbook Bhould Be Wortb Pace Alwaj*

[By Jabs B. Latbroal Lrmen J. Gag*, former *KTetary of the traasury, may he regarded a* aufIrlentty “cwmerratlve” to obrlate faara that he would be “unaafe" la hJ* banking rlewa. Before the houae eomrultte* on banking and rurrenry In VTaMilngton Mr. Gage dlaoueaed national unance* and parOcnlarly the natlanal bank. He aongbt an llluatratloo of the Idea he was ezpreaalng. which In general wma In *oi>port of the guarantee plan, and like many other* found it In tha Walab failure In Chi After explaining how the clearing haaaa hanks took orrr the aaarta of the failed Institution, guaranteed all dapoaltota, and prerented runs on other banka, Mr. Gage said: Mr. Gage's Statement. "Wall, they learned another leaaon rad they adopted another principle, a piindpla prodded for In this (the Fow-iad MIL - By thr rotr and rol notary compliance of all the member* pt the Clearing Houae aa-odatloo. they anthorlaed the clearing houae at •ny Bm* and at atated period* to act *poa it* own routine and on It* own oeocnnt. and for the Information of tha clearing boose committee Itself to hare foil, complete and xotaprebcnaiTe Inreadgatloai of each member of the saaodadon. and not only of each membar. bat of erery Institution that era He* the name of bank orrr U that la cleared or repre*ented In the Hearing houae by any clearing boose bank; and f can tell yon at a safe prophecy that are an at th* end of disastrous fallnra la th* city of Chicago by Hearing bonne banka, alnca this regime baa come In. I am told that K*naas City has th* Same thing, and other dtles will eventually adopt CL"

UK.tD|UCK OUDBON. HLUSON KIVKB DAT LINE.

TRIBUTE TO MR. TUFT

money of hla depoaltora, ha* sutTered rum earned by some rumor started through -malice. Many an houeat banker l|aa had hi* heart broken by aenneleaa run*, and ha* gr.wned in spirit as ha realised that gn.*a injnatic* has been done aa reward for earnest and able keeping of tbe treat re posed in him by hla depnallora.

Th* Baring Fallnrr-

Wheo a doaeti year* ago. Baring Brothers, of London *u«pcnd«d. It was due to that very eaplonage by. other banker* to which Mr. Gag* refer*. The Barings had embarked In many Booth American enterprise*, aotne of which wore manlfretly unsafe. The governors of the Bank of Encland, sensing the danger, refused to accept aecurltles barked - by them as hart* for the lemiaore of bank note# under the custom of that country; that action never has been adveraty r.-ttl*. Hsed In any country, although It has

r since the world

CkarUe N. Fowler. Republican, of Ht m Jersey, chairman of tbe bona* committee as basking and currency, appears In th* Congressional Record with a bona* speech In support of his MU which provided for guarenlee of bank deposits. He specially answered the assertion that sock a guarantee would ladace reckless banking, saying: "Mr. Chairman, we are occasionally mat With the statement that guarantee ■ would lead to unsound • Can ypp think of a bankas, became be had 1 neared bis de-' posits, going lot* th* directors' room and aaylng: •Gentlemen, we bar# Insured gar deposits today. Now let us proceed to make some rotten loans? "Is K pot possible that It will occur t* those directors that their loaeea moat com* out of their profits, out of their raaarvaa. out of tbrtr cap tal. and •at of their repntationet Will they not realise that they ran get no'b ng out of th* guarantee until th* last dollar of their capital- aurplns and prod Is has been wiped out and stockholders bgrr been assessed double th* pmount *f their ptock? Jha Banker** Jtopwtation. "CnMl their fepntitlou* hare been In J need. If not ruined, end powlbly com* of them hare been started on tbe road Is state prison? Can anybody think that any board of director* of any baak would be leas solicltlooa anxious sad hon**t and wise after they bad guaranteed deposits than they wet* before? “I assert again, after th* moM mature dollberadoti. that if there la one reason for Insuring life and home, fkere act more than a thonsand good I asanas marl than ten thousand good reason*—why th* (Jeporitort of tha basking toatltutlon* yt tf>* linltad Slates shook] b* Inaaead." Toe* Talwabia CaatieibwUasm. Thsas fwo men bare offered valaabia mnaikuttapa t* the diactueon of the prepaeed grerentee <* »»«*k doposta. Mr. Gage baa act fortt. tha perseat trvwd of bankers toward* . watohfnlnrs* over all jnstitur tlona which perept the people'* mrtiey la treat a«d kgs Indicated the exact (deans whereby, andey • guarantee

Modern business >• coo dueled on th* basis for the Issuance of bank notea tie actual mooty passes from hapd t° hand. Modern Pyotetn of Credits. Too go to your hank with a hqndU of checks and drafu and deposit them to your credit. Against (hat account thus opened, yon drew check*. They pass luto the world of hus.neoa. are accepted at face valpe, and Hr olate virtually aa does gold, silver and currency. If you pay your bill* In checks, often you ]•*»* through week* a time when you have oaly a trio* of loose change In your l“»k«i for street car far* and the small thing* you nead from day to day coating too little to bother to draw a check. •A check cancelled la a voucher," baa become a maxim In tbe bnslnesa Orid. Complication* of the Sj-Mem. This complicate* business and force* an banks to associate tbemaelvea in clearing Louses, and probably the public would be a maxed were they to know at times bow aharply the Hearpraae committee It- k* Into uietfaoda employed by Jta member*. In tbe paidc that liegaa li t Otf>I>er. fund* were carried from bank lo hank, i osttntatiousl) thTD-. el) thr front . that depositor! might know that other bynks believed In the soundness of tbe Institution which bad been attacked by a ran. and performed ab ioat every essential^of the guarantee ystem. Why? Pimply because the modern bnslnea* ayitem Is so e*mpllcat*d and »o little actual money passes current that aach bank mnat know that the other* are properly safeguarding thrmselves and also that they are permitting tbe car tying of account* by depositor* whoa* paper may always be depended on as worth fare gain*. Beneath tbe Sarfao*. Bo beneath tbe surface, one could rrttnrss the dearlur house association- examtnlup ; •ml; securities assets, and often t.rrvlng notice given bank that tbe aasoclat on •rill require some change In mr'.^ods no penalty of refusal longer to clear for that bank. Banks Gat of tbe Assort avion. How about banks not !■> tbe associn tlon? Many perfectly sound banka arc not directly In the clearing house. They Hear through another bask which does belong ariaely th* tame rule appl e* to iham, for. when need afl***. the aaaoriatlon serves notice ou tha memberbank which dear* for the non-aaao-datlon bank aa to what will have to be done; and It Is done promptly, too, in every Instance. BMk-ffeok Should Ba Worth Faoe. The etaroce of the guarantee plan Is that a bank book should I* worth It* fact always An entry in a pa** book should not constitute the aaaumpdon risk by the depositor and the giving of wide latitude to tbe banker. Buck entry *K»ld be recogntred as just aa actual an asset as * bank note. Also, proper arrangement* mnat be

Ire* of all t Ity me* and Bl table recep

How China Apologized For the

American Boycott

JUDGE SIGNALLY HONORED. Recognition of HU Effort* to Bring About Ramisslon of Boaar Indamnlty. National Friandahip Raaffirmad and

Commercial Amity Rastorod.

It eras through Mr. Taft, when be was In Shanghai last fall, that the Chinese apologized for the American boycott that war Instituted in the kingdom a few year* ago and expressed their appreciation of the rewlaslun by our government of tbe indemnity (ranted because of th* Boxer rebellion When it became known that Mr. Taft

coming to Shanghai represent* • •' the Chinese guilds in the and'arranged to glee him a reception. Th* guilds In China

control every branch of commercial activity and united form In aveey city and commanlly a thoroughly repre sentatlvc body. Each of the scores of guilds in Shanghai took part In the demonstration to Mr. Taft For the purpose the beautiful Tuyuen gardens In Babbling Well road were obtained. Governmental cognizance of the greeting to Mr. Taft was through the. vicarious participation of Tuan Fang, viceroy of the Llangkiang province, In which Shanghai la Tbe viceroy cMlered hi* representative, the taotal tong, to spare no expense In arranging a suitable reception for Mr Taft and to present tbe UUs to him. A meric iu» long resident in Shanghai agreed that no sock signal honors had ever been paid, to another foreigner by the Chinese. A heavy rainfall, which began the prevlou* night, threatened to mar or wholly prereut the garden party. At great cost and an expenditure of labor tbe committee completely roofed over with canvas a good t-hare of the gardens. Including long walks and paths, so that Mr. Taft and tha other gurota were enabled to more about freely, fully protected

from tbe storm.

AQ of the speakere referred to thv obligation* under which China had been laid by the remission of tbe Boxer Indemnity and the contribution! made by Americans for tbe relief o! vtclism of tbe recent famine in China Mr. Taft was cheered and applaoded for several minutes when be said.

i little

tiio ycara ago there ' bit-of mist, a little bit of fog. Hoar sunshine of our fricodshli we gave assurances at that time which I am glad to aoy have been carried onon tbe one band, and on the other then Is every evidence that th* mist hai cleared away. The boycott Is a thlnj of tbe part. It Is a closed eptaqte." Two young Chinese ladles bore for ward a massive silver bowl and |>re aented It to Ma Taft aa a memento ol Ida visit Tbe bowl, which was a ran aped men. of Chinese silver work, war inscribed, ” I‘resented to tbe Houorabb William H. Taft, Secretary of War o' tbe United State* of America, aa a Me men to of the Garden Party Given In Hla Honor by the Chine** lies!dent# pf Shanghai." lion* comments were printed by the eastern press upon the reception by the Chinese to Ur. Taft and it* significance as * tribute to the mac and a* a renewal pf tha old time bonds of amity between the nation*.

. Omm End ol JicVson st„ Cspe Bsy.JI. J. Modern'in all its aopointmenta. Room* en raU with bath. Electric lighted. Delightfully located, Ocean View. Short walk from Railroad Sution, The management give* a rate of $>.$n per day, up. Culrtne the Beet It. HALP1N

U3m. <i. i§t evei ?s iftj BOAT ' AMD ' LAUNCH ' BUILDER|^,

Office and Shop-Cor. Corgis and Jefferson Sts. CAPE MAT S. J.

Save your doctor bill* by letting a practical plumber do your work.

A. J. Small Engineering Co. Plumbing, Heating, Ventilating, Gas and Electrical Appliances. Automobile Supplies. Estimates furnished on application. Terms Reasonable.

SIS WASHINGTON ST„

CAPE HAT. N. J

THE HOMESTEAD East Cor V^athington and Jackson Sts. Capo Hay THE CAFE is thoroughly up-to-date in all appoint* menu. Handsomely appointed parlors for ladiea. Cottages served with choicest Wines, Lionors, iP Baori 7 V. RATTf. Manager

Young Folks

m&mxm&Eie

GAME OF KING BEAN. Any Clavar Bey Can Maks th* Simpia Apparatus Required. Get a clean pine buud of about 10 by 18 inches and mark It out in circle* of about two inches in diameter, aa repreaanted in the chart. Half the hoard should be blackened wlib ink or ' t, aa indicated, and tha circle* colored white. Then make two darts, about six Inches long, out of pine wood, with a feather at one end and a needle at tbs other. Roak a number pf spilt bean* in water uutU they are quit* aoft and place one tu cr^-y circle. Attach a thread to each of the beau you place Id the circle* marked -king bean." To play the game the two player* now seat themselves on opposite aide* of a Uble on which they have placed th* bean board, earb holding a dart

We Make Harness and make it ngbL The quality of thr

n

V Y

p5®©0

20

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e

&

the beat obtainable, and its cat pat to

gether and stitched by ekUlad hands.

Double or single Harness, for farm, delivery or road wagon*. Fine carriagv

Harness u a epuculty of ours, etc. MT-Dou i H>r*wt tbe Plgce.

ETT

w. A:'

Cor. Wi

CAPE HAY. N. 4.

AUCTIONEER roBTUKSALk or Property of Every Beseripttoo

With my former

FEDERAL USURPATION - SHAW. ncpabllora FlnauclM-CabJaet Mem-

band and a string attached to Brest king bean In the other Oaring decided which la to play drat, each player In turn shoots hla dart at hla adversary - * beano, all the beans on the dark half of the board belonging to th* player whnao king bean la that side and oil tbe beans on tne H half belonging to the other player. When a player spears an adversary - ! eah so that It can be carried off tbe board op tbe point of the dart, be counts tbe number mailed on tbe ctr cl* from which It «ra* taken. If he be counts nothing, and If be strikes on bis own ground Instead of »euFa he load fits—that is to la deducted from hla score, player apeara hla ppponent'a king bean he roam* 100. But a player. If b* think* hi* adversary is trying to spoor hla king bean, may pnll It away by th* thread. If. however, be pull* It away on a false alarm before th* other ■hoots or when lb* dart strike* wither tbe other circle* hr loses Are. the player'* half of the board, neitber counts. It |s the object of each player

V- lov)

ECZEMA and PILE CURE

a 1 will give FREE OF •Hire cure U Dta.^^Tre.-S^iWlTuf nd rr. Write F. W. WILLIAMS. 400 tan srennv New York. Enclose i

Who’s the Town Booster ? Why. Hire He Is!

The History of -:Cape May Co; FROM THE ABORIGINE ‘ ; nil v TO THE ?! iL* DA*: embracing

AS a

: The

Delnwuic Hay I rncisi of the LV The Wlialu.x 1. .towih of ii, V-.ll,y- , Revolution Fntriwi.' The Kri.-.Mi.hmeat UieNtwO.,. ...i.ci*!. The War of i .is; Tj, gTOgimw i.i L \ i.idy ..nd Soldiers of the W ..

By LEWIS STEVENS 480 Paget. 48 illuktr^tions. 31 Chapters. 5 a* yeud - .-*' »e*I f'lSTPAID ON HECUPT OF $X.OO M I fcwif. T. STEVENS, PubllsUf 610 WBBhiogU. * St. y Capt Vow. Ji. t »

LsUit _-'ied i386. _ Bull Phone Q7x The Daylight Store ‘ Time Tells ”

l he story •( has to'.d and still tells the Cape May buying priblic is that O'iaiU bought here look well when new.-wear well, and when old hold thtii 1 • '. and color as well as could he expected of a thorough 1 ) - reliable queiily. W'c offer the bri/litcst and best ls:.c of Ladies and Men’s Furni*hing* ou ihe markei.

O. L. W. KNERR. 518-20 Washinaton S>.

ISAAC il SMITH CLOTHIER AND FURNISH HiK.

FULL UHE OF TRUHIfSlftLWAYS f?! (iAMffi

Opposite Reading Depot. 608 WASHINGTON ST.. CAPL

N J.

B'S. OURiit) .’lumbiug-, .Btoani nn i ' iitiiia Au- ORDnkS EKCEiv.; rsxm:--e .itt - : ,n SHOP—Delatvatf Aim, Co fie ,1/7. n .

H0WAKC F. 01TEK GENERAL UPHOLSTERER FURNITURE ant MATTRESSE5 WINDOW SHAD IIS, AWNINGS.. ::d BEACH TENTS A SPCuivv«> 412 Washington Street. Caor ^*1

WMe

GENE:

$. SHAW RAL CONTRACTOH

£ime, SSrick, JSaiid, Cement and SSuitdet* H'lwto.i Si.. io. SHalenalg. SH g/», J—

SAMUEL E. EWINU General Contractor, f 3 House moving a specialty {PtBSTT SFimg ^ ^ ju nri 1 r* A | DECATUR ST. (Firm cod* 1 ■HZ’ Lr U 11 v Ly from beach ) fifin’ fftt the Hoorn* arge und airy. Appointmqats first -ia- . Cuiiiae eA\,$2 per day, npward; Sicrp . week, uparaui. Theodore J4oi»Uer . DO YOU READ THE HERALD! IT IS TO THE INTEREST OF EVERY man who visits or owns property in Cape May to be a reader of the Cape May HeralJ, In its columns yon will find throughout the year much matter that will inu res! and be of value to you lor the trilling cost < t one doliai [•or year. Il you do not already Like the lJerald cut out ami fib in the following coupon, enclosing check or a one dolliar bill, and mail same to “Herald,” Cape May, New Jersey.