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Money is scarce and credit is hard to get. The result is that prices have been going down, business has become slack, the demand for labor is reduced, and wages are falling. This works a hardship on many people, particularly those who borrowed money when dollars were cheap and must now pay their debts with dollars which are worth a good deal more than was formerly the case. In this connection it may be interesting to quote a paragraph from a little book by E. W. Kemmerer, entitled "High Prices and Deflation:"

"The greatest long-time borrower during the period of the war was the Government. Our net war debt, deducting the amount due us from the Allies, is approximately ten and one-half billion dollars. Most of these dollars, when the Government received them, were dollars of low purchasing power. If we should deflate rapidly and substantially the Government would repay dollars of high and continually higher purchasing power. It would get these higher purchasing power dollars by taxes. In the light of modern tendencies in Federal taxation it appears probable that those who held the bonds would be the ones who would be called upon ultimately to pay the lion's share of the taxes which would provide the Government with the funds for interest payments and amortization. But the public would not realize this; particularly in view of the taxexemption privileges enjoyed by these bondholders. It does not require much imagination, therefore, or political acumen to see visions of attempts at deflation being countered in the near future, as they were about half a century ago, by the charge that 'the great moneyed interests, the tax-exempt bondholders, who had manipulated the market so as to get most of the bonds into their own hands, had artificially depressed commodity prices and were exploiting the public by forcing up the value of the dollars the Government owed them.' These words will have a familiar ring to persons acquainted with the demands of the Greenback Party of 1876 and with the charges later made concerning the 'crime of 1873.'"

Deflation is a painful process, but it

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INCORPORATE Least cost. Greatest advantages. IN ARIZONA capital. Transact business and keep

Cost not affected by amount of

books anywhere. Stock made fullpaid and non-assessable by using our forms. Laws, blanks and directions free. Stockholders are exempt from corporate liability. Stoddard Incorporating Co., Box 8-N, Phoenix, Arizona

Ruined!

Once in a while a

man gets rich thru speculation. Most of the time he is ruined.

Investors in our FIRST FARM MORTGAGES add to their holdings regularly. For 38 years no investor has lost a dollar thru us. The rate is 7%. Send for offerings and Descriptive Pamphlet "S."

E.J. LANDER & CO. ESTABLISHED 1883-CAPITAL & SURPLUS $500,000.00 GRAND FORKS, NORTH DAKOTA.

is a necessary one, because the gold reserves of the world are not adequate to support the supply of money in circulation. This is true of the other countries of the world to a higher degree than it is of the United States. It is necessary for us to deflate our currency, however, and if people find themselves pinched in the process they can take consolation in the fact that, even if their possessions I will not bring as many dollars as formerly, these dollars are worth more than they used to be. If a stock they bought two years ago at 98 is now selling at 74, the $74 it will bring now are certainly worth more than they would have been at the time the stock was purchased. This is undoubtedly true in terms of securities.

The banks have been extremely particular about loaning money for speculation, and of course have been the most active agencies in bringing about deflation.

People who have held securities

on margin-putting up part of the money and borrowing the balance-have been hard hit, and in numerous instances suffered serious losses. Deflation has brought about a pretty thorough house-cleaning in business and in the security markets. House-cleaning is not pleasant, but its results are always beneficial. So with deflation. What is happening to us now is not much fun, but we shall be better off because of it and our business and industrial life will be on a sounder and more lasting basis than it has been in several years. This condition will be reflected in the price of securities. That is, sound securities. The answer is that the man who has worked and saved has opportunities to invest his money now with every prospect of benefits to be gained as a result of improving conditions in business and throughout the world generally. There always are opportunities for the man who works and saves.

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D&

LAKE LINES

Travel the Water Way

And enjoy the healthful lake breezes and the home-like comforts aboard the palatial D. & C. steamers.

DAILY BETWEEN

Detroit and Buffalo

(Eastern Time)

Lv. Detroit 5:30 p. m. Arr. Buffalo 8:30 a. m. Lv. Buffalo 6:00 p. m.

Detroit and Cleveland

(Eastern Time)

Lv. each city 11 p. m.
Arr. each city 6:15 a. m.
(Daylight trips during

July and August)
Lv. each city 8:30 a. m.
Arr. each city 4:00 p. m.
FARE-$3.60 one way,
$6.50 round trip.

Arr. Detroit 9:00 a. m.
FARE-$6.00 one way,
$11.50 round trip.
Berths, $1.80 up; staterooms,
$4.20 up; parlor, $7.20 up.
(War tax extra)

Rail tickets accepted, either way, between Detroit and Buffalo; Detroit and Cleveland. Automobiles transported (gas must be removed). Wireless equipment.

For reservations address R. G. Stoddard, General Passenger Agent, Detroit, Mich. DETROIT & CLEVELAND NAVIGATION CO.

A. A. Schantz,

President & General Manager J. T. McMillan, Vice President R. G. Stoddard, Gen. Pass. Agt.

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TORONTO

NTARIO

LAKE ONT

BUFFALO

CLEVELAND

LEWISTON

At all druggists,

$1.25

a large bottle

ENO'S FRUIT SALT DERIVATIVE COMPOUND

The Water Way

To Health

There is hardly a reaction or process that goes on inside the body in which water is not indispensable. A thirsty body easily becomes diseased. Plenty of water taken daily helps materially in keeping the internal system cleansed and wholesome. Yet most people do not drink a sufficient quantity of water-either because they do not like it, that it seems to upset the stomach, or for some like reason. Try this: Sift a little

ENO's

FRUIT SALT

(Derivative Compound)

into a glass of water-watch it effervesce-and when the sparkling bubbles have settled on the glass, drink. This agreeable, clean-tasting, refreshing health-drink quenches thirst, helps to correct a too acid stomach, to relieve symptoms of indigestion, overcome sick headache and unavoidable errors of diet.

A larger amount of ENO in water serves to assure mild but efficient laxative action and effect. ENO has been the regulator of health-used by young and old-for over fifty years. Prepared only by

J. C. ENO, Ltd., London, S. E., England
Sales Agents: Harold F. Ritchie & Co., Inc.
New York-Toronto-Sydney

GOOD

HELP WANTED!

Are you in need of a Mother's Helper, Companion, Nurse, Governess, Teacher, Business or Professional Assistant ? The Classified Want Department of The Outlook has for many years offered to subscribers a real service. A small advertisement in this department will bring results. The rate is only ten cents per word, including address.

Department of Classified Advertising

THE OUTLOOK COMPANY, 381 Fourth Ave., N. Y.

THE OUTLOOK CLASSIFIED ADVERTISING SECTION

Advertising Rates: Hotels and Resorts, Apartments, Tours and Travel, Real Estate, Live Stock and Poultry, sixty cents per agate line, four columns to the page. Not less than four lines accepted.

"Want" advertisements, under the various headings, "Board and Rooms," "Help Wanted," etc., ten cents for each word or initial, including the address, for each insertion. The first word of each "Want" advertisement is set in capital letters without additional charge. If answers are to be addressed in care of The Outlook, twenty-five cents is charged for the box number named in the advertisement. Replies will be forwarded by us to the advertiser and bill for postage rendered. Address: ADVERTISING DEPARTMENT, THE OUTLOOK, 381 Fourth Avenue, New York City

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THE SIGN OF THE TROUT AND THE FLY In the heart of the Laurentian Mountains. A Select Lodge run by university men. 75 miles from Montreal, on privately owned forest land. Finest lake and mountain scenery. Altitude 1,600 ft. Excellent trout fishing and shooting. High grade cuisine. References exchanged.

Capacity, 12 men. Opens July 15 and closes

September 15. Apply to PAUL A. LEIGHTON, Lac Superieur, Terrebonne County, P. Q., Can.

CONNECTICUT

The Wayside Inn

NEW MILFORD, Litchfield Co., Conn. In the foothills of the Berkshires. Open all the year. An ideal place for your summer's rest. 2 hours from New York. Write for booklet. Mrs. J. E. CASTLE, Proprietor.

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Hotels and Resorts

MASSACHUSETTS

If You Are Tired or Need a Change you cannot find a more comfortable place in New England than

Hotels and Resorts

NEW YORK CITY

Hotel Webster

(Near 5th Avenue)
40 West 45th Street

NEW YORK

Directly in the fashionable club and shopping section. Within five minutes' walk to all principal theaters. A high-class hotel patronized by those desiring the best accommodations at moderate cost.

Rates and map gladly sent upon request. JOHN P. TOLSON, Prop.

HOTEL JUDSON 53 Washington Square adjoining Judson Memorial Church. Rooms with and without bath. Rates $3.50 per day, including meals. Special rates for two weeks or more. Location very central. Convenient to all elevated and street car lines.

VERMONT

"The Delight

AUTOMOBILES

AUTOMOBILE owners, garagemen, mechanics, repairmen, send for free copy of our current issue. It contains helpful, instructive information on overhauling, ignition troubles, wiring, carburetors, storage batteries, etc. Over 120 pages, illustrated. Send for free copy to-day. Automobile Digest, 527 Butler Building, Cincinnati.

FOR THE HOME

HONEY. Delicious new clover honey direct from producer. Guaranteed pure and clean. 10 pounds $1.90, 5 pounds $1.05. postage prepaid Zones 1, 2, 3. Herbert A. McCallum, Great Barrington, Mass.

PHOTO DEVELOPING

GET acquainted offer: Mail us 20c with any size film or six negatives for development and six velvet prints. Twenty-four hour service. Fine work. Roanoke Photo Finishing Co., 323 Bell Ave., Roanoke, Va.

SANATORIUM SCHOOL

IDEAL climate, special teachers, faithful, careful treatment, massage, medical orthopædic gymnastics. Near Phoenix, Arizona. 141, Outlook.

THE WELDON HOTEL CHESTER Ye. Cheerful, large, airy BUSINESS OPPORTUNITIES

GREENFIELD, MASSACHUSETTS

It affords all the comforts of home without extravagance.

MARBLEHEAD, MASS.

The Leslie

A quiet, cosy little house by the sea. Now open. Private baths. Descriptive booklet.

WHITE HOUSE INN

91 Elm Street, Northampton, Mass. Season June 24 to Sept. 10. Reservations may be made now. Detailed information upon application to Mrs. M. V. BURGESS.

ELMWOOD COURT INN

PITTSFIELD, MASS.

A Cozy Inn Amid the Hills. Open June into October. Attractive rates for June. Booklet on request. J. A. MCNAMARA, Prop. ROCK RIDGE HALL

WELLESLEY HILLS, MASS. Hot and cold running water in nearly all bedrooms. Some private baths. Many comfortably furnished rooms for general use. Large, breezy, screened piazza. Fern room. "Crow's nest" Outlook. Edison Phonograph -laboratory model. Casino (separate building) with playroom for children. Bowling, tennis, croquet. Pleasant forest walks and country drives. Milk, cream, berries, fresh eggs, chickens. Rates $15, 18, 21, 25 a week. NEW YORK

Goldthwaite Inn BELLPORT, L. I.

On Great South Bay Cool, comfortable, charming. Farm vegetables. Tennis, golf, sailing, "bathing.

refined, homelike. Most delightful spot ount Pleasant House, Orient, L.I. Quiet,

on the Island. Water sports. 3 minutes' walk from beach. Illus. booklet. Accommodates 150. Eugene J. McDonnell, Prop. and Mgr.

NEW YORK CITY

HOTEL CLENDENING

202 West 103d Street
New York

rooms, pure water, bath, hot and cold; broad piazza, croquet, fine roads. Terms reasonable. Refs. exchanged. The MISSES SARGEANT.

Health Resorts

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COOKING for PROFIT. Earn handsome income; home cooked food, catering, tea room, etc. Correspondence course. Am. School Home Economics, Chicago.

BIG money and fast sales. Every owner buys gold initials for his auto. You charge $1.50, make $1.35. Ten orders daily easy. Write for particulars and free samples. American Monogram Co., Dept. 167, East Orange, N. J. EMPLOYMENT AGENCIES

WANTED-Competent teachers for public and private schools. Calls coming every day. Send for circulars. Albany Teachers' Agency, Albany, N. Y.

DIETITIANS, superintendenta, cafeteria managers, governesses, matrous, honsekeepers, social workers, and secretaries. Miss Richards. Providence, East Side Box 5.

PLACEMENT BUREAU for employer and employee; housekeepers, matrons, dietitians, governesses, secretaries, mother's helpers, companions. 51 Trowbridge St., Cambridge, Mass.

HELP WANTED

Professional Situations WANTED-Nurse for the summer for small

THE MAPLES, Coudersport, Pa. infirmary in institution in the country. 164,

Property Wanted WANTED, for August, in the Berk

shires, a small house with garage; accessible to village. Address Children's De partment, Public Library, Fort Wayne. Ind.

Real Estate

CONNECTICUT

FOR SALE LOTS on shore front

NIANTIC RIVER, CONN. Salt water bathing, boating, fishing, clamming. 100 acres woods, 500 ft. stone lock; river to 1 mile wide. Box 62, Chatham, N. Y.

FOR SALE

UNUSUAL OPPORTUNITY Closing of Estate. 3-apartment house; 17 rooms, 3 baths; beautifully located. Owner on premises. 67 Blakeman Pl., Stratford, Conn.

MAINE

A hotel of Quality and Refine Country House For Sale

ment, located in the Residential Section of the West Side. Short block from Broadway Subway Station-within easy reach of all Shops and Theaters.

Room

$1.50

Rates-Single Room, Bath near by, $2.00

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Parlor, Bedroom, Bath, for 2
Parlor, 2 Bedrooms, Bath
Excellent Restaurant
Moderate Prices-Table d'Hote or a la Carte
Write for Booklet C and Map of N. Y. City

Hotel Hargrave

West 72d St., through
to 71st St., New York
300 rooms, each with bath. Absolutely
fireproof. One block to 72d St. en-
trance of Central Park. Comfort and
refinement combined with moderate
rates. Send for illustrated booklet J.

Fine old brick house in the town of Hollis, Maine, along the Saco River, with Near the summer home of Kate Douglas outbuildings and about one acre of land. Wiggin. For particulars address Mrs. GEO. S. HOBBS. 127 Pleasant Street, Portland, Me.

Outlook.

Teachers and Governesses WANTED-Refined, experienced woman between 30 and 40 to take charge of girl 74 and boy 6% years of age. Must speak good French and be able to start children in music. Protestant preferred. State salary, experience, and give references. P. O. Box 384. Waterville, N. Y.

SITUATIONS WANTED

Business Situations WANTED-Position as librarian in boarding school or small college, boys' boarding school preferred, by woman librarian of ten years' experience. Would do clerical work if desired. 162, Outlook.

Companions and Domestic Helpers HOUSEKEEPER. By experienced homemaker. Fond of outdoor life. Cheerful disposition and cultured. Widower preferred. 166. Outlook.

COMPANION or managing housekeeper where ability, culture, and true womanhood are appreciated. Experienced. References exchanged. Would travel. 165, Outlook.

WANTED-Position by school secretary as traveling or nurse-companion. Capable of taking entire charge of nervous or chronic invalid. Best references. College graduate. 168, Outlook.

PROTESTANT, cultured young woman, companion to lady or semi-invalid. Highest credentials. Personal interview. Permanent. 169, Outlook.

HOUSEKEEPER assistant in school or institution. Miss Deans, 271 West End Ave.,

FOR YORK CLIFFS, ME. New York.

SALE

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Teachers and Governesses SENIOR college student, companionable and fond of athletics, wishes position as tutor in engineering and mathematics. 174, Outlook.

MISCELLANEOUS

MISS Guthman, New York shopper, will send things on approval. No samples. References. 309 West 99th St.

BOYS wanted, 500 boys wanted to sell The Outlook each week. No investment necessary. Write for selling plan, Carrier Department, The Outlook Company, 381 Fourth Ave., New York City.

HALF the people who write for free samples order later. There's a reason. 200 sheets notepaper and 100 envelopes printed with your name and address $1.30. Lewis, Si Second Ave., Troy, N. Y.

WANTED--Christian home for well-born gil of eleven. No family ties. Very talented, gentle, affectionate, and responsive. Best of references. Type suitable for home of wealth and refinement. Address 120- Aistiarake

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EX

BY PAUL V. COLLINS

VERY blacksmith and wheelwright knows that the way to fit a tire onto the felloe is to heat the tire, so that while it is expanded by the heat it is larger than the felloe, and as it cools it contracts, binding itself fast upon the wheel. But it has remained for the Bureau of Standards to reverse that principle.

This problem came to the Bureau: Find a method of binding heavy steel plates together where it is impossible to use bolts because of the location of the plates and where the shearing power is too great for screws.

The scientists bored inch holes through the steel plates and prepared steel pins eight or ten inches long and one-thousandth of an inch or onefifteen hundredth of an inch larger in diameter than the holes. The pins were about ten inches long-the thickness of the two plates to be fastened together. Then, the plates being in position, the steel pins were immersed for ten minutes in a beaker of liquid air which was at a temperature of 2,000° F. below zero. This intense cold contracts the pins, so that they are easily driven into the holes, and upon their regaining their normal temperature the expansion gives an enormous grip, stronger than any rivets.

Another method, equally original, but a little less reliably effective, consists in making the steel pins slightly smaller in diameter than the holes into which they are to fit. Then along the axis of each pin is drilled a hole an eighth of an inch in diameter. This hole is filled with a high explosive known to soldiers as TNT. After the pin has been driven home, the TNT is set off, causing the pin to expand, and this expansion remains permanent, gripping the sides of the socket and holding like a rivet.

These methods-both new-are not available to ordinary workshops, unequipped with liquid air or with the necessary knowledge of high explosives, but they will be found useful where old means are impossible.

The Breeze
of the Seven Seas

Perhaps you are not sailing any of the seven seas this Summer. No matter-the breeze that blows the traveler happily on his way is a land breeze also. It is money. Not so much in amount, as that it shall be convenient, safe against loss or theft, and good as gold anywhere.

American Express
Travelers Cheques

Are the "insured money" of all nations Sky-blue in color, about the size of a dollar bill, these cheques are issued in amounts of 10, 20, 50, 100 and 200 dollars. Sterling cheques in 5 and 10£-French Franc cheques in 200 and 400 francs. They come in a neat leather wallet with perforated ends and cost 50c for each $100. You sign each cheque when bought. To cash them you sign your name a second time. These two signatures identify you as the rightful owner. No form of money is so absolutely safe-none so universally recognized the world over-for larger sums American Express Letters of Credit are desirable. They are easily changed into our Travelers Cheques without extra cost.

Holders of American Express Travelers Cheques or Letters of Credit command the services of the American Express Company's world organization. These offices and thousands of correspondents everywhere assure the traveler the most helpful advice and practical assistance.

Wherever you go this summer, near or far, week-ends or a tour of the world, convert your money into American Express Travelers Cheques.

For all journeys secure your steamship tickets, hotel reservations and itineraries or plan your cruise or tour through the American Express Travel Department.

American Express Company

65 Broadway, New York

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Ideal SUMMER VACATIONS

BERMUDA

Two Days from New York

8 Days $91.00

and

Upward

Including all expenses for Steamer, Hotel and Side Trips

(25% Payment Insures Reservations :)

balance 10 days before sailing.
Bermuda is COOL in Summer
(average Summer temperature 79 degrees)

All Outdoor Sports

Golf, Tennis, Sailing, Bathing, Fishing, Riding, Driving or Cycling or visiting Bermuda's wonderful Crystal Caves and Sea Gardens.

No Passports-Sailings every Five Days via Palatial Twin Screw Steamers

"FORT VICTORIA" "FORT HAMILTON" Send for FREE de luxe Summer Tours booklet to FURNESS BERMUDA LINE 34 Whitehall Street,

'New York

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Edward Payson Weston, the pedestrian who was famous a generation ago for his wonderful walking feats, is still hale and hearty at the age of eighty-two years, so a newspaper paragraph states. Even now he walks three miles daily for his mail and several times a week takes a twelve-mile walk in the neighborhood of his home, Plutarch, Ulster County, New York, just to keep himself in condition. Weston once walked 550 miles in six days, and 5,000 miles in 100 days.

"We inclose herewith" is a common expression in business letters. It is criticised by a correspondent as tautological. "Anything that is inclosed is necessarily 'herewith,'" he says. "Each other" is also objected to in such phrases as, "The crowd got in each other's way." This, our subscriber

says, should of course be "one another's," as applying to more than two persons.

More than ne hundred buffalo calves were oorn in the Yellowstone National Park this spring, a bulletin says, and the Park herd now numbers approximately seven hundred. As if in celebraPark's springs are more active than at tion of the increase, it is said that the any other time in thirty years.

"Experiments have shown that it is a good idea to place any special article a store wishes to push in the window at the left of the main store door." The statement is made in a book called "American Business Methods." The reason given is: "The customer nesi tates and generally looks to the left as he opens the door with his right hand." Another strategic point recommended is the store's exit: "A placard should face the customer as he is ready to leave the store."

Some East Indian potentates have been noted for their friendship for their British coadjutors. One of these was a certain Rawat described in a new edition of the works of Colonel James Tod, a British Agent in India in the early part of the last century. He was visiting a city called Begun, and traveled in state. In going through the historic gateway of the town the elephant on which he was riding became frightened and threw nim off; he narrowly escaped death. When he recovered

from the accident and renewed his ceremonial entrance, he found, to his astonishment, that "the noble gateway, the work of Kalemegh, had been reduced to a heap of ruins. I deplored this rash destruction of the gateway, but the Rawat declared that he could never have looked upon it again with complacency, since it had nearly deprived me of life."

In some wide-awake stores, according to "American Business Methods," a meeting of employees is held once a month to discover and eliminate all waste of effort, time, and material. A list of questions is asked and answered. One question, which suggests unusual humility on the part of the store's managers, at one of these meetings was this: "Give ten reasons why this store would displease you if you were a patron."

Another store mentioned in the book above quoted from is said to taboo the word "Hello" in an employee's answer to a telephone call. The firm's name or "Good-morning" is preferred. When a customer is addressed, "Are you receiving attention?" is insisted on in this store instead of the blunt query, "Waited on?" "Can I interest you in shirts?" is regarded as better than "Something for you?" And "What is it you wish?" is approved, rather than "What is it you want?"

Under the headline "Trouble in the Transmission" the "Journal" of the American Medical Association reprints this local item from the Lisbon (Ohio) "Journal:" "Mrs. Lucy Mumaw has been under the Doctor's car this week."

The "Journal" (of the A.M.E.) publishes a series of "definitions" in its humorous column. These are samples: "Gall-The word that comes after 'Yougottalotta.' Gargle-The German language. Gas-The usual ingredient of after-dinner speeches. Glacial-Attitude to be assumed in response to request for a $10 loan. Goggles-Modern substitute for an intelligent appearance."

The following clipping from a treasured scrap-book is sent by a reader, with the suggestion that many persons would like to keep it for reference:

The longest chapter o' the New Testament is the first chapter of Luke; it contains eighty verses. The shortest is I John, st chapter; it contains ten verses. The longest verse in the Old Testament is the ninth verse of the eighth chapter of Esther. It contains ninety womie composed of 426 letters The shortest verse in the Old Testament is the twenty-fifth verse of the first chapter of I Chronicles, consisting of twelve letters and three words. The nineteenth chapter of II Kings and thirtyseventh chapter of Isaiah read alike. The twenty-first verse of the seventh chapter of Ezra contains all the letters of the alphabet with the exception of "J." The thirty-fifth verse, eleventh chapter, of St. John is the shortest in the Bible.

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