OMEWHERE between the “sound”
dollar demanded by the banker
and the Inflated currency urged by
Senator Elmer Thomas and many oth-
ry gee ers President Roose-
4 velt takes his stand
for a managed curren-
cy and a dollar of
fixed value, In a radio
address to the nation
he declared he would
undertake to raise
commodity prices to a
satisfactory level and
then would lessen the
gold content of the
dollar and peg prices
President and dollars so they
Roosevelt would remain In a
constantly balanced equation. “Gov.
ernment credit will be maintained and
a sound currency will accompany a
rise in the American commodity price
level,” he said; but he insisted the
price level must first be restored be-
fore anything like Inflation is estab-
lished,
For the present, Mr. Roosevelt sald,
it was important to tighten control
over the dollar. He added:
“As a further effective means to
this end I am going to establish a
government market for gold in the
United States. Therefore, under the
clearly defined authority of existing
law, I am authorizing the Reconstruc-
tion Finance corporation to buy gold
newly mined in the United States at
prices to be determined from time to
time after consultation with the sec-
retary of the treasury and the Presi
dent. Whenever necessary to the end
In view we shall also buy or sell gold
in the world market.
“My aim in taking this step is to
establish and maintain continnous
control. This Is a policy and not an
expedient. It is not to be used mere-
1y to offset a temporary fall in prices.
We are thus continuing to move to-
ward a managed currency,
“Our dollar is now altogether too
greatly influenced by the accidents of
International trade, by the Internal
policies of other nations and by po-
litical disturbance in other continents,
Therefore, the United States must
take firmly in its own hands the con-
trol of the gold value of our dollar,
This Is necessary in order to prevent
dollar disturbances from swinging us
away from our ultimate goal, namely,
the continued recovery of our com:
modity prices.”
Jesse Jones, RFC chalrman; Under.
secretary Dean Acheson of the treas-
ury and Henry Morgenthau, Jr. rep
resenting Mr. Roosevelt, were intrust.
ed with the job of fixing the price at
which the RFC would buy newly mined
gold, and the first day they fixed the
price at £31.36 an ounce. Agricultural
staples and securities Immediately be
gan to move to higher levels, as had
been hoped. For the second day the
price of gold was put at $31.54, and
thereupon securities and commodities
dropped, to the dismay of the Wash-
ington theorists. The RFC pays for
the gold with its own debentures.
The President's monetary program
is based on the plan of John Maynard
Keynes, the British economist. Or
thodox bankers In Wall street were
rather disconcerted by it. Some were
skeptical as to the practicability of
controlling the Internal price level by
changes in the gold value of the cur-
rency ; others thought the plan would
give the government a powerful lever
with which to lift prices,
If carried to its logical conclusion,
the program means the ultimate fixa-
tion of the value of the dollar with a
diminished gold content, the resump-
tion of free trade in gold, and of gold
redemptions, doubtless on a bullion
basis,
N HIS radio address the President
told of the “relief that Is being
given to those who are in danger of
losing their farms or their homes,”
and later sald: “I
have been amazed by
the extraordinary de
gree of co-operation
given to the govern.
ment by the cotton
farmers In the South,
the wheat farmers of
the West, the tobacco
farmers of the South
east, and I am confi
dent that the corn
hog farmers of the
Middle West will come Milo Reno
through in the same magnificent fash-
fon.”
There was, however, nothing in the
speech that reassured the farmers
who have embarked on a national
agricultural strike, Milo Reno, pres
ident of the National Farmers’ Holl
day association, declared the strike
would continue despite Mr. Roose.
velt's assurances of higher farm
prices,
“The President falled to even men-
tion cost of production,” he pointed
out. “We're not going to stop this
battle until we get what we want and
have demanded-—cost of production.”
Mr. Reno reported that the Conti
nental Congress of Workers and
Farmers and the Technoeratic Feder
ation of the World for Industrial De
mocracy had proffered thelr co-oper
ation In the strike, and sald that he
was confident the farmers themselves
would join the nonselllng movements
in “great numbers.”
At that time the farm leaders In
six states—Iowa, North Dakota, Min-
nesota, Wisconsin, Oklahoma and Ne-
braska-~had officially proclaimed the
strike, and picketing of the highways
had begun In some localities. Here is
what Reno's association called for
from the farmers:
1—Refusal to sell any grain, pro-
duce, live stock, milk, butter, eggs,
ete, except for prices equal to the
cost of production, but willingness on
the other hand to exchange such prod.
ucts for whatever labor and the un-
employed may have to tender.
2—Refusal to purchase groceries,
merchandise, etc, except as necessary
to sustenance and unobtainable other-
wise,
3—Refukal to leave their homes, a
tantamount deflance of mortgage fore
closures and eviction orders.
4—Refusal to meet capital pay-
ments on debts until prices reach pro-
duction cost levels,
5—Refusal to pay taxes or Inter
est on debts out of money needed for
food, clothing and other necessities.
Meanwhile the embargo on wheat
shipments out of the state of North
Dakota, proclaimed by Gov. Willlam
Langer, went into effect.
HAT code for retailers so long in
the making was finally completed
and signed by the President. It seeks
to insure fair practice and to protect
the small . tradesman, the consumer
and the farmer with his low commod-
ity prices. Retall employers with
fewer than five persons on the pay-
roll are exempt from the code. Those
in communities of less than 2.500
population are exempt from any mark-
up requirements. Local tribunals are
to be established to hear complaints
of retall profiteering. Child labor is
forbidden, with certain exceptions,
and the same applies to sales at a
loss,
“Loss leaders,” widely used by
chain stores to attract customers, are
absolutely prohibited “In order to pre-
vent unfair competition against local
merchants.”
Under a comprehensive plan for
working hours and wages, stores may
choose to operate In one of three
groups, having a choice of remaining
epen for from 52 to 568 hours a week;
from 56 to 63 hours a week: or for
more than 63 hours a week. Em
ployees In the first group will work
not more than 40 hours a week: In
the second group, 44 hours a week: in
the third group, 48 hours a week,
Minimum wages range from $15 for
a 48-hour week In cities of more than
500,000 population down to a require
ment for a 20 per cent raise and mini.
mum wage of 810 a week In places
with less than 2.500 population.
AXIM LITVINOV, foreign commis.
sar of Russia, probably already is
on his way to Washington in response
to the Invitation extended to President
Kalinin by President
Roosevelt to open ne
gotiations looking to
the recognition of the
Soviet government by
the United States and
to the adjustment of
other matters at issue
between the two na-
tions. Administration
officials In Washing: ,
ton believe the con ha
versations will take a
about two weeks and ™- Litvinov
that before the end of the year the
President and Litvinov will announce
the resumption of normal relations be.
tween the two countries and the estab
lishment of a large credit for the
Soviet republic to make purchases In
this country,
Though in giving out the correspond.
ence President Roosevelt sald he was
not committed to recognition of the
Soviet government, it Is said that pre
liminary soundings had satisfied him
that Russia's desire for American rec
ognition is a concomitant to its desire
to obtain credits for the purchase of
American goods. The administration
is prepared to join in the development
of reasonable credit facilities for the
quick disposition of accumulated sur.
pluses in cotton, meat products, cop
per and other raw materials. There
are other problems that must first be
solved, such as the czarist debts and
the Communist propaganda, but the
administration believes these can be
speedily cleared up.
The English press halled the move
toward a Russo-American accord as a
great force for world peace, and said
London could not do better than copy
Washington. In Japan officials ex-
pressed pleasure over the news, though
this may not have been entirely sin.
cere,
——
(COMMUNISTS were blamed for wild
disorders that prevailed in Havana
and In the Cuban provinces of Orlente
and Matanzas, Bakers, butchers and
truck drivers carried on their strike in
the capital, and the condition was so
serious that President Grau's eabinet
was ready to resign. An attempt was
made to assassinate Carlos Mendieta,
Nationalist leader. A bomb was ex.
ploded at his residence, shattering the
front part of the bullding, but Men.
dieta, his wife and his daughter es
caped injury,
RAILROADS, merchants, , hotel
men and others vitally interested
give sufficient evidence of support in
the way of guarantees, A Century of
Progress, the big World's fair in Chl
cago, may be reopened next spring.
There has been much talk of such a
step, and now it Is urged by President
Roosevelt In a letter to the manage-
ment telling of his enjoyment in his
brief visit to the exposition. He
writes:
“There seems to be a very consider-
able demand that you reopen next
spring, and since there Is every rea-
son to believe that there are many,
afford the trip to Chicago this year,
but hope to be in a better position next
you that it would be a very fine thing
to keep open,
“In the event that you and your
board decide It is advisable to reopen
next year, I shall assure you that |
will recommend to congress that an
appropriation be made sufliclent to
maintain the government bullding and
exhibits there”
REMIER EDOUARD DALADIER'S
government In France was over-
thrown by the chamber of deputies
and he and his ministers resigned at
once. Opposition to
the premier’s econo-
my program that in-
cluded cutting the sal
aries of government
workers and reduc
ing war pensions
caused his defent,
which came on a mo-
tion for a vote of con.
fidence on the bud.
The vote was 320
to 241. Really Dala-
dier's downfall was
brought about hy an
outbreak of politieal and personal en.
mities that had been held in abeyance
for a long time,
In his final speech before the vote
was taken Daladier spoke frankly of
the danger the franc Is already facing
from bear raids which have drained
many millions of dollars worth of
gold from the coffers of the Bank of
France,
Albert Sarraot, who was naval min-
ister In Daladier's cabinet, was given
the task of forming a new government
by President Lebrun and succeeded in
gathering together a ministry that way
or may not survive for a time. He be
came premier and retained the marine
portfolio, Daladier taking that of war.
Other holdovers were Paul-Boncour,
Chautemps and Cot. M. Sarraut an-
nounced that France wouid not enter
separate disarmament negotiations
with Germany.
get,
Edouard
Daladier
ENATE Investigators learned a Jot
about Cuban loans In the Inquiry
that is being managed by Ferdinand
Pecora, the operations of the Chase
National bank being the chief feature,
The banking subcommittee’s counsel
disclosed that In 1030 when Cuba's
finances began to crumble, the Chase
bank and associates, which held $40.
000,000 of Cuban obligations, sold $40.
off thélr own holdings.
He developed also that the pros
pectus offering the bonds to the pub.
lie did pot show a $7.000,000 deficit
in the Cuban treasury the year be
fore, but Chase officials sald the “best
available figures” at that time did not
disclose any shortage,
Albert Wiggin, former head of the
bank, had previously told of the huge
sums he received as salary and bonus
and of the $100,000 a year life pen.
sion voted him by the bank's board
when he retired. There was so much
criticism of this pension that Mr. Wig.
gin told the senators he had re
nounced It
\W/ ALZIER JOHNSON, chief post
office inspector In Chicago, an-
nounced that the federal operatives
had broken up a nation-wide ring of
mail robbers who used Chicago for
the dumping ground of stolen securi-
ties, and that £300000 of the loot had
been recovered out of $050,000 taken
in three robberies,
The recovery includes £100000 in
Italian government bonds of the £124.
000 stolen from the steamer Leviathan
several months ago:
taken In a Sacramento robbery.
connection with the last named affair
the Touhy gang under arrest in St
Paul for Kkidnaping, and George W.
(“Red”) Ketr, arrested In Chicago,
have been identified.
AZI propaganda In the United
States Is to be investigated by a
subcommittee of the house committee
on Immigration, according to Repre.
sentative Dickstein of New York,
chairman of the committee. “If we
did In Germany onetwentieth of what
they are doing here, we would be
shot,” sald Dickstein. German so
cleties In New York were refused a
permit to hold a celebration meeting
by Mayor John P. O'Brien, on the
ground that it was arranged to
spread Nazi propaganda,
S——
PD: HUGO ECKENER plloted the
Graf Zeppelin on another visit to
the United States. The big alrship
came up from Brazil, stopping briefly
at Miami, Akron, Chicago and again
at Akron, and then started on Its re-
turn trip to Germany,
NNOUNCEMENT was made by
the War department that Henvry
Ford would not be permitted to bid
on the $25000000 army motorization
and airplane building jobs unless he
signed the NRA automobile code: this
notwithstanding the Salm of his com.
pany more than comply!
with the terms of the code, ng
©. 1933, Western Newspaper Union.
*
Ls
hh.
Washington—It is a scant two
| months until congress will be back
here in the National
What Will Capital, and each
| Congress Do? day the Inevitable
| question, “what will
congress do?” 1s heard more and more.
| And when one considers the troubles
of the day, it is difficult to avcid the
conviction; there seems to be ample
reason for wondering what congress
will do!
In the minds of Washington obsery-
iers, as far as I have been able to
i learn thelr views, little doubt remains
that President Roosevelt will have a
highly nervous and bull-Lheaded econ-
gress on his hands. It appears cer-
{ tain the senators and representatives
are not going to be so tractable as
they were from March to June in the
extraordinary session. It is equally
certain that the members will
back from the hustings filled with a
lot of new ideas, champing at the bit,
eager to do things, demanding that
things be done this way or that In-
deed, I think it ean be sald that Mr.
Roosevelt is going to have both hands
full, and if he pulls the reins In suc.
cessfully controlling congress, he will
have demonstrated that he is not only
6 master politician but a super-poli-
tician. It Is a test, beyond the shadow
of a doubt, and a supreme test in ev-
ery sense of the word.
Just stop and think of the situation :
there Is as much uncertainty in busi-
ness as there was this time last year:
there are fresh threats from labor:
continuing threats from numerous ag-
ricultural sections; saber rattling from
abroad, cries about the burden of tax-
ation yet dire need for more money
for the federal government, pressing
and politieal problems follow-
ing repeal of prohibition, demands for
relief for the farmer, for the debtor,
for the unemployed, and generally
speaking, some new crop of troubles
every day.
It is to be remembered, too, that ev.
ery time congress convenes for a new
session, its members have come back
to Washington filled to the brim with
problems, pet or general, from a par-
ticular section or state, It Is thus
quite natural that in this circumstance,
there will be partisans supporting ev.
eryone of the various questions | have
set down. And don't forget, those
| senators and representatives will make
themselves heard! They have never
falled at that job, heretofore, and
there are no signs Indicating they
will fall this time.
come
social
* ® *
What the result will be, no one can
do more than guess, There are cer
tain phases of the
advance showing of
the picture, however,
which 1 hear dis
tussed, and I am going to relate some
of them In the hope that a better un-
derstanding of fortheoming conditions
may be had.
{ In the first instance, the records
fall to show many Presidents who have
had popular faith behind them to the
extent of that accorded Mr. Roosevelt
He has caught the public imagination
and, although he has some bitter crit-
{ les and will have more, there seems to
be no doubt that he has a rather solid
base from which to begin bis fight.
Next, the country as a whole will
listen to that which the President says,
Individuals may disagree with him and
{ may oppose him in his programs and
policies, but they will read what he
i has to say or listen to him on the
radio. That is an advantage of great
importance, since he has the audience,
{ In the case of senators or represent.
| atives, except among a few of the real
leaders, a limited group of followers
will read what he says or listen to his
| mouthings, but generally there Is the
| tendency to read a headline and say
it's just Congressman Ump-ta-ump”
Faith in
Roosevelt
In the next place, there is an elec
| house of representatives and one-third
{ of the senators, and every day that
| any one of them balks on Presiden
tial plans, he is just one day nearer
the polit. If need be, you know, the
President can let it be known that the
individual congressman or senator is
not wanted, and the cantankerous gen-
tieman or lady member has something
to worry about. In few instances can
| they win individually; they must have
party support. So, the President can
hold that club, ready to swing. I am
told he has let It drop gently In sev-
eral places already, but that Is out-
side of this discussion and constitutes
purely local party differences.
Besides these, few senators or rep
resentatives have the courage to defy
the President openly on the floor of
thelr chamber if the President be of
thelr own party. That is the record.
Since the President usually is of the
party In control of congress, the bills
of local Importance do not travel far
along the legislative pathway when
they are sponsored by one who has
jumped over the party traces, The
others won't trade with him,
. 8 »
These things I have mentioned are
things that happen In normal times,
normal both politically and economi-
eally. But the discussion heard these
days gives rise to doubt whether nor
mal rules will be followed. Hence,
the question: *“What will congress
do?”
Laws on Isle of Man
A quaint punishment on the Isle
unmarried woman, When
the
the
AR
she
£ to be
ary.
year political road for himself as he
has gone along. He is at the wheel
that
aul Wo
Tria
erally predicted
girls who want to
have to stay In
spilled.
the boys and
with him will
their seats or be
*. 8 0
The walls of the National Press club,
that famous rendezvous of writers and
those who like to as-
socinte with the
Question f 0 urth estate, in
Washington, Is re
plete with cartoons and sketches.
They are the work of the best of the
profession who present the ideas of
news and conditions visually. Among
them Is a cartoon depicting a beer keg
personified. It carries the eaption:
“Don’t make a fool of yourself I” The
cartoon was drawn Just after three
point-two beer was legalized.
jut, while the cartoon was directed
Liquor
officials of the presest administration
have taken the thought most seriously
in Its application to the general liquor
question, As a result, they are now
engaged In studies by which they hope
to make a fool of ii
back for legal sale, probably In tin
for Christmas celebrations,
Under Secretary Acheson, the
treasury, tells me that it is one of the
most delicate probleme with which he
has had to deal. It involves social
questions of far-reaching
quences; It touches vital spots in the
government financial situation because
of the probable revenue from liquor
taxes and besides these it still remains
& political the over
whelming sentiment for repeal that
has been shown.
Mr. Acheson pointed out how all of
these questions were interlinked, and
that fact has not made their solution
easier. For Instance, he suggested
that the committee of representatives
from several departments of the gov-
ernment were searching for a proper
tax level. If the rate of tax were too
high, It would make liquor cost more
=i when It comes
of
COnNe-.
issue despite
to pay. The result most certainly
would be return of a large number of
bootleggers, from whom the govern.
ment would get tax only when It
caught them. If the rate were too
low, the legalization of liquor would
have netted nothing, for one thing to
be said in its behalf is that it will pro-
duce revenue for a government sorely
needing it
also, there would be little of the possi-
ble tax left for assessment by
Further, a tax rate too high
naturally react agains: the sale of the
raw materials used in distilling liquor
and force those prices down.
rate obviously would burt the farmers
rials,
still another.
the difference
mine what
powered stuff,
. * =»
pealer, it
leaders that
No End of can
of control exercised
Problems that will rid the
country of saloons to some extent.
There certainly is sentiment for dis
tribution only In packages That,
however, Is up to the states, but the
federal government nevertheless is
studying the question.
Practical problems of the liquor
trade likewise must be considered,
and there are any number of legal
questions that must be ironed out. As
an example of the legal problems, I
am told that while it is natural to sup-
pose repeal will take away the foun
dation of the Volstead enforcement
act, there are nevertheless a good
many provisions of it which can stand
by themselves. Congress had author-
ity to enact them even though the
main features of the enforcement code
must fall when the Eighteenth amend.
ment becomes just a matter of his
tory. This condition obtains with re-
spect to numerous other laws, includ.
ing the socalled Webb-Kenyon act,
which for years has prohibited ship.
ment of liquor into states where pro-
hibition Is operative. It was predl-
cated on powers of congress to regu-
late interstate commerce as were sev.
eral other pleces of legislation dealing
with the liquor traffic,
The committee working under Mr,
Acheson is going to the bottom of the
questions and ought to be ready to
make a report to the President within
the next few weeks. Mr. Rooseve't
wants all of the data so that he can
advise congress what he thinks ought
to be done just as soon ag it convenes,
Otherwise, the federal government will
be unable to do anything about liquor
control for a good long time,
©, 1998, Western Newspaper Union.
The custom as regards divorce is
totally different in the Isle of Man
from that in other parts of the Brit-
Ish empire. There is no permanent
divorce law, but when a man or a
woman seeks to annul his or her
marriage the whole procedure has to
be observed of getting a special bill
passed through both branches of the
Manx legislature, the house of keys
and the legislative This
lengthy and costly
such a salutary effect that t
half-a-dozen divorces have been cur.
ried out In the past hundred
The law as regards nan’'s suf-
frage and the rights of married wom-
en was for a long time ahead of that
in England. Women over the age of
twenty-one have long had
for the house of keys, and widows
have the advantages of a law known
#8 the married women's property,
dower and widowright act, by which
she is entitled to half her deceased
husband's If, however,
deceased husband bequesths to her
a legacy larger than half the estate
she may choose to accept that.
council,
proceed)
Years,
the vote
estate, the
T0 MOTHERS
whose children won't
EAT
Nature knows best, Never coax a
child to eat! Remove the cause of
& youngster's poor appetite, When
appetite falls coated
white, bilious yellow,
don't give small children a
pating cathartic that drains the sys.
tem. California syrup of figs is all
the “medicine” they require,
tongue is
eves
fare a
consti
Specialists will tell
sluggish appetite
means the child has
colon. Correct this conditic
stasis, and see how quickly a list.
less, drooping boy or girl begins to
eat—and gain! ine”
such children seem to need is
unadulterated fig syrup.
Children who get syrup of figs,
now and then, soon have the appe-
tite and energy of young an ]
They keep well and avold cold
sluggish spells,
Nature never made a
tive for children: and they all love
the wholesome, fruity flavor of the
real California syrup of figs. It's
purely vegetable, but every druggist
has it all bottled, with directions.
Begin with it at once. The very
next day, your child will be eating
better and feeling better. Keep on
with the syrup of figs a few dars
and see amazing improvement in
appetite, color, welght, and spirits
The promises made by the bottlers
of California Syrup of Figs are true,
and it will do the same for you, IF
it's penuine CALIFORNIA. Don't
aocept substitutes.
MEMBERN.R. A.
What SHE TOLD
WORN-OUT HUSBAND
SHE could have reproached him
"for Lis fits of temper-—his “all
in" complaints. But wisely she
saw in his frequent colds, his
on ad To.
sl
Nn
n
finer laxa-
-