The Nocona News (Nocona, Tex.), Vol. 28, No. 12, Ed. 1 Friday, August 26, 1932 Page: 3 of 8
This newspaper is part of the collection entitled: Montague County Area Newspaper Collection and was provided to The Portal to Texas History by the Friends of the Nocona Public Library.
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THE NOCONA NEWS
Friday, Auguat 26, 1M2
ant
♦
The Family Next Door
s
TV
No.
THE PANIC OF 33
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THE SMART MAN
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r Hnaky, Jicavy
* -—- a
tre*J.
’/I
6 or 8‘Plies’?
y New la every way
YES—IT SAVES
MONEYI
were
r-9
*
“My wife’s always finding
88.11
EXPERT TIRE VULCANIZING
GOOD USED TIRES $1 UP -
Satisfaction Guaranteed
*
Nocona Motor Co
4
NOCONA DRUG COMPANY
4
I
S
RES
t
i.
Nocona Telephone Company
G. a GARDNER, Manager
«
Finger Waves (dried)
Finger Waves (wet)
“Service After The Sale’’
NOCONA, TEXAS
1 Dozen
3 Dozen
MASON’S
Home Laundry
Hot. strong coffee will usually
stop hiccoughs.
HINTS FOR HOMEMAKERS
By Jane Rogers
GOODYEAR
PATHFINDER
25c
50c
panic
has
of
A failure, yes, you may be sure
A hopeless case beyond all cure
Is he who thinks that he is smart
Presuming then he must impart,
That all the wise he must convince
Without a ray of common sense.
Of all the blunders I have found
In life’s experience up and down
I can’t conceive one any worse
Nor figure out a greater curse
Than self-conciet I sometimes find
Existing in the foolish minds.
*
|
i
Built w'th Super-
|twl«t cord, Good-
year patent.
Of the i or 8 layer* of
Supertwlet Cord in this
Goodyear, two do not run
from bead to bead—they
are really cord breaker
e tripe and that's what we
call them although some
tire makers call them
extra pile*.
5.00-20 ea. in pre. $7.27
Single $7.49
Tube $1.53
5.25-18 ea. in pre.
Single $836
Tube $135
4.50-20 ea. in pre. $5.76
Single $5.94
Tube $1.09
VW X ctta be
® doin’ n
5.00-19 ea. In pre. $7.16
Single $7.38
Tube $135
35c
_25c
Lnds,
hday
l not
^ing.
I the
to
fhey
and
my-
Lifetime Guaran*
teed.
> ■, . |
11
4.50-21
$4.25
each in pairs
Single Price $4.38
Per Set $17.00
Tube $1.05
450-20
54.21
each in pairs
Single Price $4.32
Per Set $16.84
Tube $1.00
yr*
4.75-20
55.08
each in pairs
Single Price $5.22
Per Set $20.32
Tube $1.00
LOOK
at these 7
Quality
Features
4.40-21
53.88
each in pairs
Single Price $3.98 .
Per Set $15.52
Tube $1.05
5.00-21
55.53
each in pairs
Single Price $5.72
Per Set $22.12
Tube $1.33
5.00-20
55.33
each in pairs
Single Price $5.49
Per Set $2132
Tube $131
r Vt.
f A
M
N
5.00-19
$5.24
each in pairs
Single Price $538
Per Set $20.96
Tube $1.15
9//r t/cqctable TONIC
HERBINE
CORRECTS CONSTIPATION
&
j V
VV
It?
M
COURTS OKAY “SHORTS”
M.
w
4.50-21 ea. in pre.....$5.85
Single $6.03
Tube $1.18
4.75-19
55.00
each in pairs
Single Price $5.14
Per Set $20.00
Tuba $1.08
1
4.75-19 ea. in pre. $6.84
Single $7.03
Tube $135
f
•<
new costume "sensible” and predict*
that It some ranking player wouio
adopt it, It would sweep the country
quickly becoming a recognized Insti-
tution frowned upon no more than the
present day abbreviated bathing suit
Lower right: Dr. William Muhlbctg
vice-president and medical director of
Union Central Life Insurance Com-
pany. who sees In the costume an op-
portunity for girls to acquire more ol
the valuable Vitamin D from the add-
ed skin surface exposed to the sun t
health giving rays. He declares girls
need the benefits of summer sun even
more than men because, up to 35. they
resist disease less easily.
Sen. Capper
a much wider use of radio among
Flat Work 5c a pound
extra. ...........-...............
4
1
cell
for farm
says the
tor.
to offer the
final solution to
I"” satisfactory re-
r* c e p t 1 o n
I fa rm 8
among
rural people in
the new type air
receiver
use,"
Sena-
"It seems
offer
E
JT
fa-
wi th
de-
i n
in
[
■a
111®!
A pleasantly tart, thick salad
dressing is made of equal parts of
French dressing and sour cream
// 0 *
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^/AVOlvg
s,
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CAVV ENJOY FlSHlrf
THE MODERN FARM HOME
TUNE IN
WED. P. M.
Goodyear
Radio
Program
for JUDGE J. E.
for Supreme
election , will
efficiency
of
H
0
JAri't WOftA fr-R
A60VT
FiSHlN* • X
MIGHT JUS1 AS
WEu. GO
. F1SHIN! <
» 1 ■ 9
^Vhy be satisfied
with a second-
choice tire
whenFIRST-
kchoice costs
no more?
Why not read the
Evening S t a r-Tele-
gram? It has all the
advantages of a good
newspaper. Plenty of
good news and a good
Comic section.-Deliv-
ered to your door for
10 cents a week.~S’ee
Foye Garrison or Call
87.
Chicago girls want to play tennis
I^Rthe new “shorts,” polo shirt, shoes
i=Bl a smile. It’s okay with Chicago
they have declared In a de-
|VAn restraining park officials from
<ferlng with players in such a cos-
R&ie. The court ruling coincides with
BRormal opinions expressed by phy-
Klans and tennis champions.
9-2eft: Jollta Macready of Chicago
wearing the costume which started the
latest battle around what' Is this and
ithat In the matter of women’s apparel
‘or lack of apparel. Upper right: Mrs
Dorothy Weisel Hack, Western Wom-
en’s Tennis Champion and wife of the
Cubs’ third baseman, who thinks the
----------0----------
Mr. and Mrs. W. B. Patterson
and son, Ward, left Friday for their
new home in Austin, Texas. Ward
expects to enter the University In
September.
666
LIQUID - TABLETS - SALVE
Checks Malaria in 3 days, Colds Irst
day. Headaches or Neuralgia in 30
minutes.
666 SALVE for HEAD Colds
Most Speedy Remedies Known
1' . a
[ I
L
' -
JmW
r-sj
it hadn t!" I _______________
trips to town—needless drives in bad weather—
disappointing visits to find no one at home. You
need your telephone to perform a multitude of
errands that save both money and valuable time*
/♦ *♦
farmers.”
The principal advantages of
air cell receivers over previous
types of battery eets, in addition
to tone quality comparable to
modern electric radio receivers,
is the elimination of storage bat-
teries and the expense and
trouble of frequent recharging
which they entailed.
Using a revolutionary type of
"breathing battery" for "A" cur-
rent, the new sets are said to
give the rural dweller the same
type of radio service previously
enjoyed only by persons in cities
where electric current is avail-
able.
Although developed a little
more than a year ago, the new
type sets for farm use are today
being made by all leading radio
manufacturers.
My wile s always finding new ways to save.
This morning I started to drive to town to the
freight depot. She insisted that I telephone and
make sure our freight had arrived. Sure enough
/ h;Jr. t! Use your telephone to avoid costly
Romans in AD 33 Fought
Depressiom With Same
Remedy Being Used Now
-- -----------—---
I A murmuring crowd was gath- i
; ered about the official gazette the I
| Acta Diuma, which was posted each I
; day in the forum at Rome. This
• day the news was ominous, as it1
' had been stated tersely that the
■ Corinthian bank of Leuciupus’ Sons
i ,was insolvent. These financiers of
| the Roman Wall Street, Via Sacra,
| were worried and alarmed this day
. in the year 33 A. D.
i Every man in the group about
i the gazette knew that the bank
of Balbus & Ollius had closed its
| doors two days before.
; The political situation had con-
i tributed very largely to this state
■ of affairs. Italian agriculture had
i been declining for a number of
years, and for many sessions the
, Roman senate had been occupied
with the consideration of many sug-
gested remedies for the farm in-
terests. Numerous attempts had
been made to drive city inhabitants
back to the dying farms whence
they had come, attracted by the
life of the city and the prospect of
high wages.
But the citizenry persisted in
their refusal to return to the farms.
Farming was declining also for
other reasons. The farmer at a dis-
tance from Rome could not lay his
crop down in the Imperial city at
as low a price as cargoes of grain
raised in the rich African pro-
vinces by cheap labor.
3rt .Daap-cut traction.
a Goodyear name
“ and house flag on
sidewall.
Mary Wade’s Finger
Wave Shop
'A /
New Type Radio
O. K., Says Capper
Senator Arthur Capper believes
that the development of the
new air cell radio receiver offers
the final solution to the farmer’s
radio problems.
“I find great imprest
BL
AN attractive way to decorate
2*. tall glasses in which cold
beverages are to be served, is to
dip the rim first in a saucer of
lemon juice and then in a saucer
of sugar. As the sugar hardens it
forms a decorative crystal ring.
Also, c.s the beverage is quaffed
from the glass, the ring gives it
an unusual and piquant flavor.
Then, too, the situation was com-
’ plicated by the idle veterans of the
wars in Gaul. Bath Julius and
Augustus Caesar had followed the
policy of paying the veterans a
bonus, and Tibuerius did not depart
from the custom which was finally
to end in the virtual control of the
imperial rule by the soldiery. The
veterans refused to go back ta the
farms, and expected larger and
larger grants.
One historian of the day writes:
“Tubuerius wrote to the senate and
in terms of keen reproach censured
their inactivity, which permitted the
mutinous spirit pi the populace to
rage without control.”
Many remedies were suggested
but finally the senate, with the
tacit consent of the empcrior. de-
creed that two-thirds of the for-
tune of each capitalist was to be
invested in lands within Italy.
Some of the moneylenders, and
a majority of the rich senators
made the required investments in
Italian lands promptly; but oth-
ers delaved for one reason or
another. Many of them were com-
pelled to sacrifice some of their
ether investments; still others had
. to call in many of their loans and
deposits. The failure of Balbus &
J Ollius was due to such a call by
Publius Spinther, who had approxi-
mately $1,200.00 on deposit with
them.
J Tull ov«r»txe.
How can we think we are wise
While thousands fought to win
the prize
Without a hint that they
smart
Nor sought their wisdom to im-
part
But rather sought the better way
To gain their wisdom day by day.
—W. W. CARLETON
----------- o--------
The Beckman-Oerety Shows, mid-
way attractions at the 1932 State
Fair of Texas are bringing to Tex-
as—a racing lion. The lion sits
contentedly along side Marjcr- '
Kemp, the driver as she speeds a-
round a perpendicular wall at a
breath-taking speed. It is the only
known racing lion in the world.
The Beckman-Genetry Shows will
bring twenty new shows to the State
Fair midway.
coffers of the rich lenders.”
Gracchus, the paetor. whose court
handled the scores of bankruptcy
cases, was forced to hold public
sales from morning to night. No
loans were renewed. Men who were
thought to be rich found them-
selves penniless and many were
compelled to sacrifice all their pro-
perty. Town houses and country
village went under the hammer at
ridiculous prices. Stocks of mer-
chandise furniture, slaves, and
stores of food and clothing were
sacrificed for what they would bring
at a forced sale. Few people would
buy on such a rapidly declining
market, and the panic spread to
the wholesalers and retailers in al-
most every commodity.
From the imperial treasury Ti-
berius set aside the sum of $4,-
000,000 which was to be used for
the rehabilitation of business. There
were certain conditions attached to
the loan.
The banks were to reloan the
money to the neediest businesses.
No interest was to be charged for
three years. The security had to be
real estate, and of double the usual
amount of such security.
Almost overnight the real es-
tate market strengthened. Lands
which were being sacrificed at al-
most any price, which had found
no purchasers, now became the
basis for desirable loans. The up-
turn began.
Rates of private lenders drop-
ped almost immediately. In a short
time money was bringing the usual
I per cent per month. With money
again at normal, and in some
cases below normal rates, the panic
was delayed, News came from other
financial centers, from Alexandria
Carthage, and Comith, that busi-
ness was again approaching nor-
mal.
This was the great panic of
the consulship of Galba and Sulla.
TYPEWRITER PAPER — Clean,
white typewriter paper, size 816x11,
at 20c for 100 sheets. Call at The
Nocona News office. tf
•ill
(Mg service. I be-
jM lieve they will
"8" result in a rap-
id growth of the
American radio
audience and in
Even the news of a splendid
crop in northern Africa did not
stem the panic. Business sought
security and confidence, which were
lacking everywhere.
The senate met and considered
the situation with a maximum of
oratory and minimum action.
Tiberus was appealed to, and
from his summer home at Sapri he
laid out a reconstruction program.
Tiberus. the Roman emperor
suspended the foreign moratorum.
That action caused an immediate
rise in foreign securities. Roman
citizens who bought such obliga-
tions could now take the usual legal
recourse if payment was withheld.
The agricultural program, which
had already cost such vast sums,
was to be abandoned. This stop-
ped the further liquidation of other
securities by all those affected by
this legislation. The liquidation
had been going on for months,
ever since the senate had decreed
the agrarian measures. Tacitus
comments: “Like most [plans of
reformation, it was embraced at
first with ardor, but the novelty
ceased and the scheme came to
mothing.”
o n
__ not
■a served by power
lines.
“This new
type of air cell
receiver seems
to compare
vorably
the latest
▼elopments
electric sets
both quality of
_ reception and
” trouble -free
Vote
HICKMAN
Court. His
make for more <
and greater dispatch
business of that court.
Other banks were in no shape to
take over any of the commercial
paper of Balbus and Ollius. The
firm of Quintus Maximus and Luc-
ius Vibo had become heavily in-
vovlved by loans to the great pur-
ple dye exporters, Malchus, located
at Tyre. Ephesus, and Antioch. This
firm had been in difficulties for>
some time. A strike at Tyre had
stopped the production of dye; and
a final stroke was the embezzle-
ment of their funds by one of the
managers. This forced Malchus to
the wall, causing their ultimate
bankruptcy.
Maximus & Vibo might have sur-
vived this disaster to one of their
largest accounts, had not another
customer suspended. This was Seu-
thes & Sons, importers of Alexan-
dria, Egypt. They, too, had been
undergoing a series of misfortunes.
To complete the debacle, a part of
their fleet of spice ships founder-
ed.
When news of this failure reach-
ed Rome, the gossip of the Via
Sacra hinted that the firm of Max-
imus and Vibo would not withstand
this second failure. A run started
on their bank. Rumor also connect-
ed the bank of Pettius & Brother,
with this latest failure. This was a
larger bank which had many cor-
respondents in northern Gaul.
The political situation stepped in.
Affairs in Gaul were in somewhat
of a turmoil. Observers considered
that the people were on the brink
of revolution. Taxes were extreme-
ly high, as there were many past
wars to pay for.
A moratorium had been declar-
ed, and for a period it was im-
possible to recover debts by any
of the ordinary processes of law.
For that reason the other Ro-
man banks were delustant to dis-
count the Belgian paper held by
Pettius, despite the high rate of
interest, and the hitherto good
record for payment.
The Pettius bank and the firm
of Maximus & Vibo closed the
same day. Then It was openly
rumored that many other banks
were affected. In a comparatively
short time one of the large banks
of Carthage suspended payment.
This was followed by the failure of
two banks at Lyons, and anoth-
er in Byzantium. The condition was
world-wide.
Public hysteria grew. Runs
were started on nearly every bank'
and one after another closed. In-
terest rates rose, and for a time
private lenders reaped large returns
ignoring the legal rate of I per
cent a month.
As Tacitus observed: “The want
of current money brought on a
new scene of distress. Creditors
pressed to have their accounts bal-
anced, and judgements were enter-
er against such as stood indebted.
Their effects were sold, and all the
specie was either carried to the
public treasury, or swallowed in the
Verily Solomon was right—
there is nothing new under the
sun.
Nineteen hundred years ago
the Roman emperor Tiberius
was using the same methods
to combat a business
that President Hoover
been using in this year
grace.
Did you ever
“Panic of ’33?”
Tiberius won. thereby estab-
lishing a precedent for the 1932
battle.
It seems almost uncanny
that the Romans had the same
business problems and trials
that confront us today, and
that after 1,900 years of addi-
tional experience we have
found no new ways of bringing
on panics or dissipating them.
Harley W. Mitchell tells, in
almost literal translation from
various Roman authorities, of
how Balbus & Ollius. private
bankers closed their doors and
touched off a panic that made
the Romans forget the Ger-
mans. the Scythians and all
the other Barbarians who were
thundering at the frontiers of
the empire. It is reprinted
from the magazine of Wall
Street.
JUMP
*5200*10
' HEI?£
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Perry, F. L. The Nocona News (Nocona, Tex.), Vol. 28, No. 12, Ed. 1 Friday, August 26, 1932, newspaper, August 26, 1932; Nocona, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1234726/m1/3/?q=%22%22~1: accessed July 15, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Friends of the Nocona Public Library.