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THE: MUSIC
TRADE:
REVIEW
EDWARD LYMAN BILL - Editor and Proprietor
'
J. B. SPILLANE, Managing Editor
\
Executive and Rcportorial Stall:
GLAD. HENDERSON, EUGENE C. MAYER. H. E. JAMASON, B. BRITTAIN WILSON, W. H. DYKES,
A. J. NICKLIN,
AUGUST J. TIMPE,
WM. B. WHITE,
L. E. BOWERS.
CHICAGO OFFICE:
E P VAN HARLINGEN, 37 South Wabash Ave.
Telephone, Central 414.
Telephone, Main 6950.
Room 806.
PHILADELPHIA:
MINNEAPOLIS and ST. PAUL:
ST. LOUIS:
BOSTON OFFICE:
JOHN H. WILSON, 824 Washington St.
R. W. KAUFFMAN.
ADOLF EDSTEN.
CLYDE JENNINGS
SAN FRANCISCO: S. H. GRAY, 88 First Street.
CINCINNATI,©.: JACOB W. WALTERS.
BALTIMORE. MD.: A. ROBERT FRENCH.
REIVIEIW
the local bank. The local bank can increase its credit facilities at
all times, and especially in hard times, when business men need
credit most. In this way commercial paper will be made the prince
and cease to be the pariah of all paper values.
"In addition to this I might suggest that it would be a good
plan for the associated co-operative banks to issue currency on good
bills receivable, instead of the present system where the national
banks issue bank notes on Government bonds. But, of course, the
utmost precaution should be taken so that this currency should be
based only on first-class paper and that the associated co-operative
banks be responsible for this currency, in addition to the makers of
the notes.
"The manufacturer needs this reform more than anyone else,
because he employs vast numbers of people dependent with their
families on him for their daily bread and shelter, and who are
thrown out of employment if their employer is unable to get his
legitimate notes discounted. The manufacturers and laboring men
are blind to their own interests if they do not give full and active
support to this cause."
LONDON, ENGLAND: 1 Gresham Buildings, Basinghall St., E. C.
W. LIONEL STURDY, Manager.
Published Every Saturday at 1 Madison Avenue, New York
Entered at the New York Post Office as Second Class Matter.
SUBSCRIPTION, (including postage), United States and Mexico, $2.00 per year; Can
ada, $8.50; all other countries, $4.00.
ADVERTISEMENTS, $2.50 per inch, single column, per insertion. On quarterly or
yearly contracts a special discount is allowed. Advertising Pages, $75.00.
REMITTANCES, in other than currency forms, should be made payable to Edward
Lyman Bill.
An
important feature of this publication is a complete ser-
t j o n devoted to the interests or music publishers and dealers.
9nf1
Departments conducted by an expert wherein all ques-
aUU
tions of a technical nature relating to the tuning, reg-
Tl>l*hnil*Jll n o n a r t m o n f c
ulating and repairing of pianos and player-pianos are
itXIIUIMU UKyai lUlClllS.
paper. We also publish a number of reliable technical works, information concerning
which will be cheerfully given upon request.
Exposition Honors Won by The Review
Grand Prix
Paris Exposition, 1900 Silver Medal. . .Charleston Exposition, 1902
Diploma Pan-American Exposition, 1901
Gold Medal
St. Louis Exposition, 1904
Gold Medal
Lewis-Clark Exposition, 1905
T
HE foreign commerce of the United States in the year about
to end will show an increase of over 200 million dollars when
compared with the immediately preceding year and a larger total
than in any earlier year of our commerce. Imports, while falling
below those of 1910 in the earlier months, have in the closing
period of the year shown a marked increase, indicating that the
total for the year will differ but little from that of 1910, which
made the highest record in the history of the import trade. Ex-
ports are larger than in any earlier year, and manufactures ex-
ported also make their highest record, reaching approximately one
billion dollars in the calendar year 1911. The approximate total
for the year, based upon ten months' record already compiled, arc:
Exports, over two billion dollars; imports, one and one-half billion
dollars, of which over one-half entered free of duty.
I
N his latest report Commissioner of Patents Edward P>. Moore
recommends the passage of certain bills now before Congress.
The most important deals with the safeguarding of applications
from possible mutilation or fraudulent amendment during their pen-
NEW YORK, DECEMBER 2 3 , 1911
dency in the Patent Office and with increasing the certainty of
examinations of applications. It provides that there shall be re-
quired to be filed with an application for patent, in addition to the
drawing, two photographic copies of such drawing. This imposes
EDITORIAL
upon every applicant for patent an additional statutory requirement
—to wit, to file with each application of which a signed and attested
r
drawing forms part two photographic copies of such signed and
~T v HE discussion of the so-called Aldrich plan to end monetary
JL panics, and which is being agitated to some purpose by the attested drawing. The purposes of this requirement are (1) to
guard against and enable the detection of unauthorized changes in
National Monetary Commission, has resulted in considerable at-
the original drawing or abstraction of such drawing and substitu-
tention being concentrated on the value of commercial paper—a
tion of another; (2) to lessen the danger of serious mistakes on the
topic which is of decided interest to the music trade and other in-
part of the office in failing to detect interference between co-pending
dustries wherein it figures so largely in the transaction and develop-
applications for the same invention. Other amendment bills change
ment of business.
Previous to his departure for Europe last week, Charles H. only the word "claimant" in section 4893 to read "applicant" and
the word "claimant" in section 4917 to read "patentee." The word
Steinway, president of Steinway & Sons, placed himself solidly on
"claimant" is not, in my opinion, the proper word to use in these
record as in favor of any reform which will put the banking system
statutes. In all other statutes relating to patents the inventor is
of the country on a sounder and safer basis.
formally referred to as an "applicant" or as a "patentee." These
"We are a commercial nation and we need a credit system
two statutes are the only ones using the word "claimant." These
based on the business transactions of the country," said Mr. Stein-
amendments, therefore, will bring these statutes into conformity
wjay. "Under such a system, if business is good, credit will be
with the other statutes relating to patents. The application for a
expanded; if business slackens credit will be contracted.
patent
is not a claim against the Government, and the attorney in a
( "We ought to give commercial paper its proper standing.
patent
case
is not prosecuting a claim against the Government. The
This can be done only by mutual action of the banks. The central
patent,
on
the
contrary, is in the nature of a contract and is so con-
bank is, for many reasons, out of the question with us. We cannot
strued
by
the
authorities on the subject and by the courts. The
have centralization, but we can have co-operation, and that is es-
inventor,
having
created something new, offers by his application
sentially a democratic principle. The local banks in each district
to
fully
disclose
his
invention at once and to give it to the public at
should combine for co-operation and mutual assistance. These
the
end
of
seventeen
years, provided the United States will allow
locally formed organizations should form again co-operative terri-
him
to
have
the
exclusive
possession thereof in the meantime. In
torial bodies and these, in turn, one main organization.
granting
a
patent
for
an
invention
the Government is not parting
"The direct purpose of all this co-operation should be primarily
with
anything
possessed
by
the
public
prior to applicant's disclosure.
the rediscounting of good commercial paper, for which the local
If
the
inventor
chooses
not
to
disclose
his invention, but to practise
organizations and individual banks should be responsible. Pro-
it in secret, the public is the loser. In payment for the invention
ceeding along these lines, the good commercial paper of every bank
the inventor obtains the right to bring suit in the Eederal courts
throughout the country can be passed along to the central associa-
against infringers during a period of seventeen years.
tion and rediscounted there. It then ceases to be a dead asset to
LONG DISTANCE TELEPHONES - NUMBERS 4677 and 4678 GRAMERCY
Connecting all Departments.
Cable address •• M Elblll, New York."