HAT the President terms the “farm credit administration” was created by executive order which, if it meets with congressional ap- ln mes proval, as is expected, p will become operative May 27. The “farm credit administration” re places the federal farm board, the fed- eral farm loan board, and the farm credit activities that have been scattered through seven different gov- ernmental agencies, The “administration™ will be headed by Henry Morgenthau, Jr., with the title of governor, and an assistant, for the present at least, Paul Bestor, with the title of commissioner. Governor Morgenthan said, after ls suance of the order, that the activities of the government in granting loans to farmers and farm organizations will be fully co-ordinated. In the past, with the government making loans through the Department of Agricul ture, the R. F. C., the farm board and other agencies, varying rates of inter- est were charged and different pur poses and conditions were set up, and under the new regime, Governor Mor. genthau said, and treatment will be observed strictly, He also declared that all f the new credit administration will be placed under civil service, instead of under a patronage as ox- ists in many of the bureaus at present, The executive order by the President directed the abolishment of the farm stabilization activities of the farm board resulted In losses of million dol- lars, provided they should be continued only to liquidate the left over holdings of board, This consists of thirty milion bushels of wheat and twenty thousand bales of cotton. In a message to panying the President Roose velt sald his purpose main. alin and strengthen a sound and per- manent system of agri- cultural credit federal supervision and operated on the basis of providing the maxi m of security to present and prospective in bonds and farm mortgages or other agri securities—all for the purpose of meeting the credit needs of agrienl- ture at minimum cost.” The various activities under one head Is expected to result In an administrative saving of approximately two million a year, Henry Morgen. thau, Jr. unity of purpose employees system issued have three hundred that which except he the fol eign CONZress accom 1 oraer was to co-operative subject to investors debentures ros consolidation of these dollars HE efforts of European nations to cancel or greatly reduce the war debts owed to the United States are on, and it Is sald President has won the first skirmish to the ex- tent of considering world con. ditions any discussion of war debts, As a result of Mr Roosevelt's insistence it is reported the British government has backed down | from the position an- nounced by Austen Chamberlain, chancel- lor of thé exchequer, when he sald that Britain would not swap economie concessions for revision of the debt, The British are now willing to dls cuss economic concessions before the debt question Is taken up. By virtue of this sudden change of frout on the part of the MacDonald ministry, the world economic conference is likely to be held In April or May Instead of next summer or autumn, as the Eu ropean powers were planning, The British ambassador, Sir Ronald Lindsay, has discussed with Secretary of State Cordell Hull, the questions to come before the economic confer. ence before the debt question is con- sidered, The French are also willing to dis. cuss economic questions before con- sidering war debts. Following a White House conference between Pres. ident Roosevelt and M. Jacques Stern, vice chairman of the finance commit- tee of the French chamber of deputies, M. Stern sald that he had not dis cussed war debts with the President; that their conversation had been con- fined to the economic conference which the deputy thought “it would be very important to hold as soon as can be made possible.” Asked about the debt, he said “it wouid be very Important for France to pay the December installment as a mark of respect to President Roose. velit. Mr, Roosevelt and Mr, Hull have taken the position from the start that the war debts are secondary In impor. tance to the removal of tariff, embar. go, quota, exchange and other restric tions on International trade, A preparatory commission named for the purpose of preparing ag agen. da for the economic conference has listed the following subjects for con sideration : {oosevelt economic before Sir Ronald Lindsay “The original and present weight of debt and interest obligations. “Price of primary commodities and price of manufactured goods, both wholesale and retail. “The existing volume of production In different staple commodities enter: ing In world trade. “The willingness of creditors to make international loans and thelr un- willingness to receive payment In goods and services. “The distribution In different coun- tries of the avallable gold supplies of the world. “The disharmony between the stable and fluctuating rates of exchange.” Prime Minister Ramsay MacDonald, of England, will preside at the econo- mic conference and will name the date for its convening. ROGRESS of the farm relief bill in the senate has been slow. Sena- torial dignity would not permit of the speeding up of the ponderous machin ery of the upper house regardless of the plea of Secretary of Agriculture Wallace for speed and for the passage of the bill as originally written by the President and his advisors. There just had to be hearings on the bill and everybody, for and against, must have a chance to talk, and they have talked, At this writing It seems that “a bill will eventually pass but whether it will be the bill that the house, and is acceptable to the admin. istration, or whether it will be so rad- ically changed as to be unrecognized by its proponents, or unacceptable at the White House, is for the future to reveal. passed ARM relief In other directions moved ‘along more rapidly, The proposal for refinancing farm mort. gages has taken form and the propo- sition Is for the selling of farm mort gage bonds to the extent of from nine to ten billion dollars on which the government will guarantee the inter est, but not the principal. It Is ex- pected the government's guarantee of interest will make the bonds market- able at a comparatively low interest rate. Farm leaders have urged a govern. ment guarantee of the principal on such a bond issue, but such a guar antee would make them a direct obll- gation of the and simply an Increase in the national debt of nine or ten billion Guar. anteeing the interest only means that should there be a complete default on the part of the farmers, which Is never probable, treasury would have from three hundred to four hun- dred million dollars to pay annually until the bonds had matured, | BERS is a growing belief in Wash. ington that the budget will not be balanced during the next fiscal year beginning July 1, regardless of the economies made by cutting the pay of government employees, reorganization of bureaus and departments, and re payments to an government, mean dollars, the amounting to expected gardless of an added revenue from the tax on beer, estimated at about one hundred and fifty million. The relief grant of five hundred mil Hons provided for In a bill now before congress, and the two hundred millions for the reforestation plans, will alone off-set the economies. It is probable that the more ambitious plans of the President will be financed through new bond issues, but there will be Increased interest charges and a sinking fund to provide for which will run into hun dreds of millions annually. Along with these things tax yields are falling short of estimates becanse of the continued prostration of business, IVE hundred million dollars to be provided by the federal govern. ment and distributed as unemploy- ment relief by the states is ealled for in a bill introduced In the senate by Senators Wagner of New York Costigan of Colorado, and La Follette of Wisconsin, The bill provides that the huge sum shall be given out right to such states as shall apply for ald, and places the re sponsibility for see ing that the money ow natu is given wisely In the hands of a “federal relief adminis trator.” This official would be appointed by the President, with the consent of the senate, and carry on his duties Inde. pendent of any other department, The Reconstruction Finance cor poration is given authority, under the bill, to borrow the five hundred mill. fon dollars, but will have no. powers beyond turning the money over to the relief administrator. Ten days after the appointment of the relief execu tive, the Reconstruction Finance cor poration would cease to have any cone trol over the granting of loans to stutes or municipalities for relief pur poses, and thus all of the govern. ment's relief financing would be under the one Jurisdiction, NATION-WIDE boycott on all Jewlsh business and professional men in Germany has been clamped down by Chancellor Hitler's National Soclalist party. The announcement states that it will last "until Jewish life in Germany is paralyzed.” Hit- ler's government, while not officially countenancing the boycott, is not ex. pected to intervene, At Naz! headquarters it was sald that the boycott “is a purely defensive measure solely directed against Ger- man Jewry as retaliation for the antl. German campaign In foreign coun tries.” All over Germany Jewish owned shops and department stores closed their doors and were picketed by storm troopers. HE President's blll providing for the employment of 250000 men for the purpose of reforestation and other work in government forest re serves and along the rivers, passed congress with some amendments made by the senate. One of these amend. ments removes the state quota re strictions on the sixty-eight million dollars remaining of the relief funds in the hands of the Reconstruction Finance corporation. up to the quota previously provided to continue to borrow until the sixty- eight million Is exhausted, In the house the bill was adopted without a roll eall, but with the Re. publican members In opposition. This but at the methods of ruling the house by the Democratic majority. the first of the that had not received non-partisan support. The bill was strongly posed by President Green of the Amer. ican Federation of Labor, TRECTOR of the Budget Lewis W, Douglas has completed the task of revising the pay: to veterans under the terms economy bill giving the President dictatorial powers for such revisio nates of the from the rolls all pension reduces the pas service abilities by 15 per reduction as that ade ments to those with approximately me perces in the cent, of government emp hat either have been or are expected to be, the reduct] per cent in wages of government em made by veterans’ now The economies t effected enver the ployees on of 15 all the President: reduction In benefits and administration made : reorganization of partments and bureans in the admin. istrative branch of the government, for which the President has suthor. ity, and on which he is now work : postal service economies, now helr considered, all have been com. the de pleted the following savings will have been effected : Veterans benefits and ad- ministrat f $4%0,000,00 Reorganization of tive branch of the govern- ment. Including sbolition 256 000. 0606 adminis Reduction In government Postal service Total Among the new that expenditures priation of five hundred million dol Inrs as a gift to the states to be used for non-employment relief, and the re- forestation plan of the President which congress has authorized, and which an expenditure of not less Communists object to Daniels as American ambassador at Mexico City. Posters captioned “Out with Daniels” have appeared on walls in the capital. They call him “the murderer of Azueta and Uribe.” These men were who were killed In the fighting United States forces landed at Cruz In 1914. At that time Mr. fels was secretary of the navy, MJ EXICAN " Josephus when Dan. NDER the authority granted him by congress the President has or all federal employees, effective April 1. The order affects the employees in all departments including officers and en- listed men dn the army and navy, Post Office , department, and all others on the government pay rolls, a total of approximately 800,000, The authority given by congress provided for such cut as reduced liv. ing expenses might warrant up to a total of 15 per cent. An investigation of living costs made by the Depart. ment of Labor showed a decrease fiom June 30 of last year to the present time of 21.7 per cent. On the strength of that report the President ordered the cut In pay to the limit of that al lowed by the terms of the economy law. It is estimated the saving to the government will be approximately £125,000,000 annually. EDERAL regulation of new stock and bond issues is proposed by the President. He asks the passage of leg. islation that will require the organis- ers, promoters, and sellers of the le sues to submit for public information a complete financial statement con. cerning the stocks and bonds offered. The proposed law would provide that fall information he given on ev. ery prospectus offering securities for publie sale, and similar Information be made available at other sources, Bonuses and commissions paid te sellers would also be revealed to the publie, No serious objection to | terms of the bill is expected In eltfibr the house or the senate. ©. 1933, Western Neviuaper Union, CENTRE HALL, PA. rors pra a a] === There can be no doubt any longer that President Roosevelt is going about the job of cutting Old Question down government ex- Bobs Up penses with utmost sincerity and serious- ness, How far he will, or can, go remains to be seen, of course. But he has his subordinates at work in a way that surely Is destined to produce results of considerable Importance. But there are signs on the horizon which seem to portend difficulties, The President has begun to talk about balancing the budget in ways that have proved erroneous for other Pres. Idents. He wants the budget of “or- dinary” expenses of the government to be as small or smaller than the or- dinary receipts, As far as that pro- gram goes, it is not subject to com- plaint or criticism. But the Presi. forestation and perhaps some other He contends that a bond of the national budget. So the old question again has arisen, If there is an expenditure of govern- ment money, raised by a bond issue, President Hoover argued was, while he occupled the House. President Cleveland held the same view, Proposals to pay program with a bond Issue were characterized in senate debate a year ago as making a “dishonest budget,” since It was contemplated that the expense should not included in the budget. President Roosevelt takes the posi. tion that the course he has proposed places the bond in a different category. He considers that govern. ment for starving people Is an emergency and that, for the reason it will not recur each year, it should not be considered as an “ordinary” ex- pense. Since It is not an ordinary ex. pense, It can properly be from budgetary calculations, * * - the budget? be issue help exe There is argument on both sides of the question Moreover, there Is cer tainly a need for extraordinary meas ures under the stress of the times hundreds of thousands of per- sons continue to live solely by charity. It should be recalled, however, that one of the reasons why the bonds of a good many foreign countries are ne 1 r held to be desirable as investm ' t when in this country, Is because no ohe oa teil accurately what the financial status of those countries actually Is Their bud gets do not tell the full story. The President says, respecting his pro- posals, that we should look the facts in the face and that the expenditures are Justified. Undoubtedly, his view will prevall In congress, and there will be quite an outpouring of money In order to do as much as hu- manly can be done to relieve the dis. tressed, jut from a political standpoint, the program which he has sponsored. is looked many leading him Into open spaces Republican fire can reach him. I have heard considerable discussion among Republicans to that effect. After all, be remembered, the Demo crats are the “ins” and the Republic ans are the “outs,” and it Is very much easier to attack than it is to defend in the great game of politics. » » * public upon by observers as where The fear of war again sweeps Eo. The ghost of a “Mittel- Europa” again arises The treaty of Versailles and the changes it made in the political War Scares Sweep Europe Europe has had war scares since Most of them have been manufactured scares, most dis gince the armistice of November 11, 1018. It Is, Indeed, no ordinary scare that now pervades Europe. It was only a few short months ago, certainly not longer than a year ago, that a general war in Europe was ac- eredited as being wholly and positively “unthinkable.” Yet, suddenly such a war as that has become “thinkable." The challenge Is to European states manship, for the statesmanship of the continent Is weighed in the balance. . 8 » In the last month, we have seen Ramsay MacDonald, the British prime minister, rushing—yes, actually flying «from London to Rome, to Paris to Geneva. He consulted with Mussolini. He met with Premier Daladier In Paris. Ostensibly he talked about dis armament in each Instance. But In Washington there is some lifting of eyebrows about that, Official Wash ington accepts the reports that the subject was disarmament. But private. 1y, more than one observer looks upon the situation as ominous, as one de noting an Impending crisis, It is difficult for observers here to disassociate thesituation In Europe from the rise of Hitler as dictator in Ger many. No one Is saying that Hitler Is Fg, J a way that causes European states. men to feel something of the same fear known to the small boy who is compelled to walk by a cemetery late at night. They appear to be “jumpy.” Besides, the Rhineland is. tradition. ally a potential battleground. France always has been Germass's “potential enemy.” That which France won in the treaty of Versailles through the fighting at the Marne and the other great battles still is considered by Ger- mans to belong to Germany. Then, there is the so-called Polish corridor which was set up. That Is neither liked by the Germans nor the Poles, and Hitler has promised to correct that situation. France shakes in her boots at that thought. That is one part of the picture Where ig the danger point? None of my sources of information have been able to put thelr fingers on it, but they feel there Is some specific danger point, * ® =» On the other side of the plieture, there Is German faselsm. It is dome inated by Hitler as completely as Musso- inl ever dominated Italian fascism, Con. sequently, it may be assumed that Hit. ler must consolidate his own political fronts just as Mussolinl found it nee essary to do when he launched fascist ship of state for Italy. ther, except for minor moves, Mus solinl has refrained from venturing too far afield in foreign This may & desire to avoid meeting the French in the dark, or it may ! been due solely Mussolinl po At any rate, not happened, So, if Hitler his program after that of the duce, reasons be that fear of a tionalism is Hitler's German Fascism Fur- matters, have been due to prematu the =ituation ust recall that the was preceded by war In France has contin kans in any vals of One m war the Balkans ber influence in Poland, In and to. have been No one to break Jugosiavia, Crechoslovakin mania The latter three called the Little Er ite doubts that Italy would like up that arrangement a desire to attain a “destiny” such as has characterized the Entente would stand In the way Some observes this new scare o : Donald, of is doing a work the equivalent of which never has been at tained, or even attempted, heretofore, MacDonald's Big Task France, Italy and Germany an agreement with his own whereby the big four powers would on a new basis ‘hat would mean complete destruction of the treaty of Versallles, for it was the treaty of Ver sailles, drafted by our own President divisions we now recognize, «If that be the end that some semblance of approval in opinion of those conversant with the enemies into an ar. they three potential rangement whereby years, * & » Highness Prince Damras Damrong Devakul to be the minister of Siam to Washington has created some little the diplomats properly. The minister is a cousin of the king of Siam, so he rates as a prince first of all, but what else? ‘Should he” be ealled or ads dressed as Prince Damrong, or Prince Damrong Devakul, or just Prince Devakul? Some one in the Depart. ment of State is going to find out. Be ing trained In those matters, the prop- er title will be ascertained without the prince being offended. In the meantime, one hears references large. ly to “the new minister of Slam.” The prince speaks excellent English, hav. ing been educated In London, so that he naturally will understand what Is being sald of him or to him. That fact has not made the problem easy. *. " President Roosevelt got a really big lowgh out of advice given to his sec retary of the treasury, William H. Woodin, at the annual dinner of the White House Correspondents’ assocla- tion. Mr. Woodin composed, among other productions, the “Franklin De lano Roosevelt March,” It was played for the 006 members and guests of the association at the dinner by the United States Navy band. After the band had rendered the selection In tribute to the President who sat In the midst of the writers, Jack Dennle. the come- dian, serving as master of ceremonies for the occasion, addressed the throng: “Mr, President, 1 suggest that you say to your secretary of the treasury that he stick to his present job. There 3 not much money belng made out of these » © 1933, Western Newspaper Union, Howe About: Making a Fortune Problem for Stenographers Reading By ED HOWE OW is a fortune made? In seven out of ten this is the process: A young man finds himself with a wife on bis hands, and a family of children coming on. (How universally children keep coming on!) He works and saves with a view of providing for them. From an expert workman he becomes foreman, superintendent, proprietor in a small way, and works long hours, He discovers that the more reliable he is, the more he helps In community affairs, the more his buginess prospers. In course of time his little business be comes a big business, if he continues to manage it well. Finally, along to- ward old age, he becomes well-to-do; occasionally rich. And at forty, fifty or sixty he is more reliable than he wns at twenty or at thirty, when a small business man, foreman or super- intendent. There is nothing in the general bellef that as soon as & good workman Is advanced, he becomes more careless in his morals, * % * A man in Florida, separated from his wife, employed a woman as his sec- retary. One day when the secretary came out of her office she was shot and killed by the wife; five balls were fired, and although are sup posed to be poor pistol shots, every one was deadly. women Was the trouble between the husband and wife due to"the bad acts of the secretary? If the secre was actually an honest woman, newspaper readers out of to be ten, called not. It Is an exhit unfairness that the 1 she was iris who study colleges must friend of reasonabl der. He selecting books of possible clubs In I have a who is a0 enormous res gels value by belonging to book York, and number of such him, and accumulated a selections, I has stad ate iy visited came away ten he specially recommended. Only three of them actually interested although 1 looked over the others, found rious t} the ings In and some « » Jooks straight ahead » as few men as poss . * » “The English” says a Canadian writ- er. “seem to have a world perspective, a world outlook and world philosophy, any people on 1 neither deny nor accept the statement, but it causes me to wonder fust how much truth there is In it. I should say France and Germany are close rivals of England as possessing, on an average. the wisest and most ef- ficlent inhabitants. Up to the time of the war Germany was crowding Eng- land for first place; since the war France has shown itself smarter than either of its rivals. The United States is entirely out of the competition, not because of lack of efficiency, but be- cause lack of common sense has be- come our national misfortune. Some gay the island of Java is the Garden of Eden so far as ease of making a living is concerned, and that the rule of the Hollanders comes near being the wisest and best. Denmark, Sweden, Norway, should be considered in pick- ing out the country best managed. Switzerland, although it has far better scenery than soil, has long attracted attention as specially well managed so far as public affairs are concerned. . » - unequaled by other carth ™ In reading sea stories I have ob- served that when there is a strong wind, a good captain drives his ship, and takes risks, Occasionally he meets disaster from driving too hard in a roarifg gale; at best the decks, the cook house and life boats are afloat, and the sailors get little rest. The best captains take chances in everything, to get along. Still, a man who drives his ship in a hurricane, te make up for the days he is be calmed, must have sound Judgment; sound knowledge as to the strength of ropes, masts and sails, . * » In may home in the country I have heard no show commended as much as “Of Thee I Sing" The show has not come within two or three hundred miles of me, but travelers to the big towns have seen it, and told me of its unusual cleverness, The writers of the play have made «a great fortune. Soon we will be hearing of their yachts, their strings of race horses, of their being sued for, alimony. Can mnyotie doubt they have won their distinction and money honestly? Any poor man who abuses them be. cause they do not divide with him, or charges we need a new form of gov. ernment because these men have ceoded, is unfair and mean. These men spent many dollar in drilling dry oll, ETE ©. 1933, Dail Syndieate
Significant historical Pennsylvania newspapers