By EDWARD W. PICKARD OUR thousand or so financiers gath- ered in Washington for the annual tonvention of the American Bankers’ association, and it became apparent at once that they were far from unani- mous In their opinions concerning the economic policies of the New Deal Francis Marion Law of Houston, Texas, retiring president of the association, gave out an interview in which he sald he believed that economic recovery had arrived at a point where bankers of the United States could honestly advise business men to go into debt again in order to put idle bank re- serves to work. Further, he stated that bankers feel that the securities of the United States government are the best Investment “on the face of the earth” and that there need be no con- cern over the condition of government credit, What made this expression especial ly noteworthy was the fact that only recently the federal advisory council, composed of leading bankers, issued a warning that government credit was being menaced by the unbalanced con- dition of the federal budget and the unstabilized dollar Then appeared before the bankers in Constitution hall President Roosevelt imself and made an appeal for “an alliance of all forces intent upon the business of recovery.” He called on the banks to lend more money to finance the New Deal program. “Government should assert its lead ership In encouraging not only confl- dence of the people in banks but the confidence of the banks in the people,” he said. “In March, 1933,°1 asked the people of this country to renew their confl- dence in banks. They took me at my word. Tonight I ask the bankers of this country to renew their confidence in the people of this country. I think you will take me at my word.” He said that the administration stood squarely back of continuance of the profit system and that emergency activities would be curtalled as fast as private business could pick up the load. It was noted that the President made no promise to balance the budget or to stabilize the currency; alio that he did not comment on the proposal to create a central bank. His talk was heartily applauded, but many of his hearers were far from satisfied. Before Mr. Roosevelt spoke, the bankers were addressed by Jackson Reynolds, president of the First Na tional bank of New York and a stanch sound money advocate, He appealed for co-operation with the President, ighly praising his efforts at rehabill- tation and saying: “If the government and the banks continue in the role of antagonists it will invoke the gravest consequences to our country, perhaps even the de struction of many institutions and principles we have long held dear. “The poor, whom we have always with us, will not be much worse off. The rich will survive in comfort at lenst, as they always have, but the great stratum of our people between these two groups will be irretrievably ruined. “If, on the other hand, we abandon our antagonism for friendly, under. standing, sympathetic co-operation, I belleve we can make a great contribu: tion toward the perpetuation of our cherished institutions, the encourage ment of our fellow citizens, and the gradual and sound rebuilding of the shattered economic and financial strue- ture of our country” Further overtures to the bankers were made by Jesse H. Jones, chair man of the Reconstruction Finance cor poration, and J. F. T. O'Connor, comp- troller of the currency. Both of them gave assurance that the economic con dition of the country Is sound, and Mr. Jones urged the bankers to expand their loans to business. To all this the bankers responded by unanimously adopting resolutions promising to co-operate with the gov- ernment but demanding a balanced budget, Rudolf 8. Hecht of New Orleans wns elected president of the association to succeed Mr. Law. AR clouds over central Europe are not dissipated by the partial solution of the plot that resulted in the assassination of King Alexander of y , Jugoslavia, It is es tablished that the mur der was the work ‘of the Croatian group of terrorists called the Oustacha, and the head of the gang, Dr, Anton Pavelic, has been arrested, er with his assistant, Eugene Kvaternik, The three companions b the assassin, who or. Auten were captured In France, have con . fessed that they trained for the job in a camp In Hungary and held Hun. garian passports, It is charged in the French press that they or their Ous tacha chiefs were in secret contact with Hungarian or Italian officials, and if it can be established that thelr funds eame from such sources, most serious complications may result. The permanent councils of both the little entente and the Balkan entente, which Include Rumania, Jugosiavia, Czechoslovakian, Greece and Turkey, have issued identical communiques as- serting their solidarity with Jugo slavia and laying responsibility for King Alexander's assassination upon terrorists urged on by the foreign pol- icles of nations which were not named but which clearly are indicated to be Hungary and Italy. The communiques gave warning of a probable war unless “international measures are loyally adopted” to stop political assassination and conspiracy. Both the ententes decided to adopt common measures against all political conspirators, So far, Hungary is bearing the brunt of the blame for the Marseilles assas gsination, but Premier Goemboes as serts his country is “entirely gulitiess of any connection with the foul crime.” REAKING records all along the route, M-10001, the new streamlined train of the Union Pacific, made an ex- traordinary run from Los Angeles to New York In 56 hours 55 minutes, The best previous time for a transcontinen. tal train crossing was established in 1008, when the late E. H. Harriman, then chairman of the Union Pacific traveled from San Francisco to New York in 71 hours 27 minutes. The new tubeshaped train also es tablished a world's speed record of 120 miles an hour as it sped from Buffalo to New York. The train passed over the 30-mile stretch of straight-away between Buffalo and Batavia, on which the Empire State Express of the New York Central achieved a speed of 112% miles an hour on May 10, 1503. MMEDIATE cash payment of the veterans’ bonus certificates was de manded by the American Legion in convention at Miami, Fla, despite the nowledge that it is opposed by President Roosevelt and the be Hef that he would veto any legislation provid ing for such payment The vote was 9857 to 183. The Legion's new national commander is Frank Belgrano, Jr. of San Francisco, now a banker. All other can. didates withdrew and Mr. Belgrano was elected unanimously. In his speech of acceptance he said he would conduct his office with vigor and determination and would give it his undivided atten tion. “Our country is filled today with too much talk about isms.” he sald “Ev. erywhere we hear about Communism, Socialism, Fascism, Hitlerism, and oth- ers too numerous to mention. “There Ia room in this country for only one Ism. That is Americanism. Without equivocation or reservation, 1 say to you that under my administra tion this American Legion is a sworn enemy of every other ism. That is a declaration of war” The following were elected as na tional vice commanders: Daniel J. Doherty, Woburn, Mass. : Harold J. Warner, Pendleton, Ore. : John Kenelly, Mandan, N. D.: Milo J. Warner, Toledo, Ohio; and Quimby Melton, Griffin. Ga. Rev. Dr. Park W. Huntington, pastor of St. Stephen's Lutheran church In Wilmington, Del., was chosen unani- mously as national chaplain. John D. Crowley of Cambridge. Mass, was elected chef du chemin de fer of the “40 and 8" play organiza tion of the Legion. and Mrs. A. C. Carl son of Willmar, Minn., was elected na. tional president of the American Le- gion auxiliary. Next year's convention was awarded to St. Louis, Mo. Frank Belgrano, Jr. ROF. JEAN PIOCARD made anoth. er balloon excursion into the strat. osphere, and accompanying him was his plucky wife, Jeanette, the only Ii- censed woman balloon pllot In the United States. They ascended from Detroit with their 600,000 cubie-foot bag, passed over Lake Erle, rose to a height of about ten miles, and then came down on a farm four miles west of Cadiz, Ohio. The gondola landed in a tree but the two occupants were only slightly bruised and scratched, and it was believed the delicate scien- tific instruments they carried were un. injured. IGHT federal officers led by Malvin Purvis, head of the Justice de partment's bureau of Investigation in Chicago, caught up with Charles A. Floyd, known as “Pretty Boy," on a farm near East Liverpool, Ohlo, and a few minutes later the of the Ozarks was dead with fifteen bul. lets in his body. He had two auto matie pistols but did not fire a shot as he sought to escape across a fleld, Floyd, accused of at least seven mur ders and lately of complicity in the Kansas City depot massacre, was hunt. ed for years, He was Oklahoma's most notorious outlaw since the days of Al Jennings and the Daltons, ILK and rayon dyers did not join in the recent general strike of tey- tile workers because of thelr contract, but 30,000 of them in the Passaic val- ley and the New York metropolitan area have now quit their jobs and the dye houses were closed perforce. When negotiations for a new con- tract began two months ago the union asked for a 30-hour week at $1 an hour and a closed shop. The closed shop was the sore point of issue. Neither side would change its attitude. George Baldanzi, Federation of Silk and Rayon Dyers, then waived the demand for a 80-hour week at $30 a week and sald the union $20. This proposal the employers, P. W. Chappell, conciliator of the Department of Labor, was on the ground trying to effect a compromise, was rejected by Jann B. CHAPPLE, Republican can- didate for United States senator from Wisconsin, proved himself to be a gentleman at Waukesha, He was listed as principal spenker at a rally there. John Gay, can- didate for congress, preceded him on the program and alluded to President Roose- velt as “a man who can't stand on his own feet without crutches.” Mr. Chap- ple arose and said: “Men and women of Waukesha, the the United States has been insulted by a previous speaker on this program in a serious personal and whi ile I may differ with Dem- 1 will not stand for attack on the Presl- infirmity, and 1 there- speak on this program turn to Waukesha at some J. B. Chapple President of way, ocratic policies, that kind of an dent's physical fore refuse to and will re later time, (CONVERSATIONS preliminary to the 1885 naval conference opened in London, and the Japanese did what was expected of them. Ambassador Matsudaira and Admiral Yamamoto told the British and the Americans in turn that Japan was pot satisfied with the existing treaties—everyone knew that—and set forth these main points: 1. The powers should agree that Japan may have equality, “in princi ple,” in defensive armaments, 2. The ratio system should be abol- ished, and “¢ ships limited on a total tonnage basis, instead of by categories. "” lefensive 3. Each nation would drastically re- duce “offensive” armaments, thus cut. ting down the chances of any war of aggression, while building whatever “defensive” ships within the tonnage limit agreed it feels It needs for se curity. IEUT. FRANCESCO AGELLO of Italy, known as “Crazy Boy" be cause of his daring aerial perform ances, set a new record for speed In flight when he drove his seaplane over a course at Desenzano, four times at an average of 440.20 miles an hour It was his own that he broke by about 10 miles an hour. He used his old plane but it had a new Fiat AS OV type 3.500 horse power. N AHATMA GANDHI has quit as i leader of the All-India National- ist congress. He insisted on the Ime portance of the spinning wheel in the home of every congress voter and on the wearing of homespun, and asked various changes in the constitution of the congress. Other leaders did not agree with him, so he refused to act longer as their chief, record motor developing HREE American physicians have been awarded the Nobel prize in medicine for 1034. They are Dr. George Minot and Dr. William P. Murphy of the Harvard medical school and Dr. George H. Whipple of the University of Rochester. The prize of $41.000 is divided among them for their develop- ment of liver therapy in anemia. W. A. SCOTT and Campbell Black * of England, flying their Red Comet plane, won the great London to Mel bourne air derby, reducing the record by many hours. The second plane to arrive in Melbourne was that of K. D, Parmentier and J. J. Moll of Holland. They gave the winners a close race though flying a longer route. Col. Ros- coe Turner and Clyde Pangborn, Amer- fcans, lost time when they wandered from the course near Allahabad, India, but came in third. James and Amy Mollison, the famous flying couple from England, led at the start, but were forced to quit in India by damaged motors, Tragedy marked the race when Har. old Gilman and James Baines of Eng- land crashed in flames In Italy and were burned to death. RUNO HAUPTMANN'S effort te avold extradition from New York failed, so he was taken to jall at Flemington, N, J. to await trial for the murder of Colonel Lindbergh's baby boy. Attorney General Wilents and hig staff of assistants were com- pleting their arrangements for pre senting the case against the carpenter. Hauptmann was arraigned before Justice Thomas BE. Trenchard and pleaded not guilty. The trial was set for January 2 at the request of Mr. Wilentz, who said: “I don't think this trial should go through the holidays. 1 think It would be distasteful to the people. Then, too, this Is a eapital ple time to prepare its case” HALL, —\ a For the first time since the federal —a rift has developed Is Politics petween the federal Creeping In? reserve board and the federal advisory which Is supposed to act as inter mediary between the reserve board and the public. The line of cleavage has How far it may go In disturbing faith in the federal reserve system as a banking structure it is yet too early to tell, but I find in many quarters frequent Questions as to the indication that politics may be creeping into government supervision of the country’s largest banking unit, the federal reserve system, The controversy had its origin in a statement of views delivered to the reserve board by the advisory council last month, Of course, the advisory council has no power and can only function in accordance with its name and give suggestions to the reserve board. Its influence nevertheless here tofore always has been an important factor in federal supervision of bank policies and any wide difference of opinion between the advisory council and the reserve board naturally is an influential factor in financial condi- tions, The reserve board did not enjoy the statement of views from the advisory council, which was to the effect that “no real or ent recovery” oan be hoped for until the federal govern- ment returns to the gold standard for our currency. It sald unequivocally that the currency and credit supply now existing is for all needs and that business cannot be expected to go forward until It has some assur ance of & permanency in our currenc In other words, the advisory cot takes no stock In the ™ which has been so strong George F. Warren trust advil perme ample baloney di ly a¢ one of the sors to the rof. important brain President. In addition to the council's criticism of the currency pole cy of the adminis tration, it did pot pull its pu respect to the countiess gover experiments in bu paragraph of is t “A serious factor of rapidly increas. ing importance is the tendency of busi ness enterprises directly cted by government agencies to reach out further and further into felds hereto fore occupied by private capital, there by destroying taxable values. The use of government! money in competition private business is not only par to private initiative but ex- perience has amp it is costly, generally cient, and that its disastrous effects reach far be- yond the limitation of the particular industry immedi affected i me atal siness. 1 quote that statement condu oiling ai iyzing ineffic ately The respecting council hand ntich more the en inistration, Fear Savings including what it de Threatened #cribed as a con stant “threat of in- condition that the council felt was stifling personal thrift. It asked directly whether there was any inducement for an pres earnings against the will prevent continued production of income If there was an overhanging threat that all these savings may be Obviously, the federal reserve board was wrought up when the advisory council did the unusual thing of mak- its views Although council withheld its statement ft was drafted and given the reserve board, that lapse of time did not salve To show how it felt about the action promptly met and adopted a resolution by unanimous vote returning the coun cil's statement to Its secretary. This “spanking” has aroused a great many business leaders who have expressed fears that politics now is permeating visory council is a body created by statute just as much as the federal re- serve board. No one can tell what the There are a number of men in the ad their support of Likewise, the been outspoken in talk in Washington that the two schools of economic thought are engaged in a clash that may be serious In its effect on the supervision of the country's banking structure, - =» - Whatever may He the attitude of the reserve board, 1 have found a con. siderable: body of Within opinion holding that Its Rights the advisory council was functioning with. in its own sphere when It made the statement to the board. As explained above, the board was under no com punction to abide by the expressions from the advisory council, and If it elected to do so It could allow the council's views to be pigeon-holed and forgotten. But the point is that the council Is representative of business . and financial Interests and therefore, when it considered federal policies it was speaking for that segment of our national life which otherwise had no means of making itself vocal, accord- ing to much opinion in the National Capital, Further, the fact that the council took direct issue with the administra- tion is being regarded in many quar ters as a healthy sign. 1 believe there is no dispute about the right of indi viduals or groups to criticize the po- litical party responsible for govern- ment management at any time and if the particular part of our commerce and industry, represented by the ad visory council, feels dissatisfied with the gold policy, with the unbalanced budget, with the continual spending and experiments that have gone on, there is a great number of people who insist those views should be disclosed. Some students of economy and govern ment here hold to the opinion that such expressions may have a tendency to lead to policies acceptable to both sides. This phase of the situation may be linked to the efforts which the admin istration has been making to acgom- plish an understanding with some im portant business leaders through fre quent conferences at the White House and informal and Indirect mee of Was j I re fer to the dinners and 1 been held, many in New York, by md Moaoley, erly member of the brain through tings outside weetings which have Prof. Raym number one but now a magazine editor. White House sou Moley observers form rees deny part in any i1 the dinners, most Washington accept the denial gra They a Mr. velt is views expressed by leaders In those is seeking some in of salt. re cons Roose eelings basis of understand. ing with business. 0 stretch these variou board. chairman of the Henry P. publican commitiee, he an- Makes It jae en 1 te in- bership in the ves. He of defeating that house of representa no method, he sald, disbursement of going on In the Reo tion, cash has ation by the Democratic wing foliowed compil national committee of fig the amount of cash that has been paid t by the government throug channels since President took the rei The enmmitiee comg ex al sot off ng of money disgtribut ures shi rh its vari ous velit gt of states and ninst ead h state the amount ed therein 1 i ural benefits, public atrgetion 3 herwise, De campaigners not these figures but Chairman Flet insisted that was the basis and reason for their on. Mr Fletcher proved his with and were invited to compiiati statement newspapers throughout the country, each one quoting some Democratic can- informed an audience government in that particular state, The Republican chairman told news paper correspondents In a press con ference that he was not accusing the Roosevelt administration of buying votes but he added with candor that votes naturally were going to go towards the source of money supplied. and a considerable amount being turned the last month, Mr. Fletcher made a clean hreast of his feelings that It was difficult to battle Santa Claus, In connection with the Republican charges over cash distribution both of the national committees have been com- piling statistics respecting registration of voters through the country in prep indicate that public Interest is aroused far beyond the usual condition, Vot- ers are awakened to the importance of these elections, Obviously, there are many local Is sues to be fought out and settled hy the bailot. The situation in California is illustrative of this, Never before, | am told, has California seen such a registration list as is made up there In anticipation of the vote on Upton Sin clair's program to “eliminate poverty in California” Agricultural areas, according to the registration lists, are prepared to sup port or upset policies of the agricul tural adjustment administration and some Industrial centers show figures indicating widespread interest in the vote that is naturally to have a bearing on the status of the natioonl recovery administration. Many astute politi clang are saying that the great regis tration makes guesses as to the out come rather hazardous, while the stu- dents of government welcome the large polling lists as encouraging evidence of an awakened interest among the populace in this thing we call govern ment. It is proof, they say, that, whether right or wrong, more voters want their feeling known In the current election than hitherto has been the case except when the ballot involved the Presi. "@ Western Newspader Union. VOLCANOES IN ACTION The volcanoes which erupted re. cently in the state of Yera Cruz, Mex.,, and In Alaska, are in that belt of voleanie activity which en girdles intermittently the huge basin of the Pacific ocean, This ring of volcanoes may be traced, on this glide of the Pacific, from C Horn to Alaska, while on the other sides the cones are found In Japan, the East Indies, New Zealand, and other is lands, In South America, the A studded with voleanoes, some of which are among the loftiest in the world, In April, 1032, a number of volcanoes roared into activity, ter. rifying inhabitants for 400 miles and sending dust as far away as Zealand, 6000 miles distant cabezado, Cl id Planchon Andes erupted again in July last January Llaima, in so Chile , poured smoke six miles in DRUGS? Don’t make the mistake of giving even a ld-year old boy strong medicines meant for adults. Boys and girls who have reached their “teens” are not ready to be given powerful drugs! It is laxativ ust becat you FE Ea or in less stomach upset growing ch single mist Use a senna (a Syrup of Figs! children’s use, and syrup does not child's system Give that little of this hen constipated, and i f do ase 18 repeated until |} is ® eT to be noving regular] and oroughly without need of help. Get the true Calif Syrup of Figs containi senna and cascara, he bowels or ape ndes are New Des- in the and thes hico ar the nol wise to giv es of adult sts hild a ou'll soon have safely relieves THE "LIQUID TEST.” First: select a liquid laxative of the proper strength fc hilds Second: give the dose suited to the child's age. Third: reduce the dose, if repeated, until the bowels are moving without any help at aL An ideal ative for this purpose is the pure C ali fornia Syru ip of Figs, but be sure the word “California” is on the bottle Those Flying Ostriches Sunday Set : Teacher—Riche take away, it Is sald. to thems is meant? Bright Bos triches —Pat If you tire easily- J not reason out the cause this unnatural condition? t+ Your first thought may be, “I must cat more.” That's not all. You should enjoy what you do eat. Fre- quently, the blood cells are low... and this, perhaps, is what makes feel a, If this is your trou- Bie the stomach may not be calling for sufiicient food. Zest to eat may, be lacking. But what a difference 8.8.8. makes when taken Just before moeals, Just try it and notice how Fouts appetite and digestion improve, 88.8, stimulates the flow of gas- tric juices and also supplies the precious mineral elements so neces sary in blood-cell and bemo-glo-bin up-building. Do try it. It may be the rainbow you need to brush away present "ai scouragement over ur health condition. Do not be blinded by the efforts of a few unethical dealers who may sug. geet pubstitutes. You have a right to ingist that 8.8.8. be supplied you on request. Ita Jong years of preference is your gusrantee of satisfaction, the world’s great | blood o edicine Large Numbers “Gert seems to have quite a head for figures, doesn’t she? “1 should say so. She gars she has the number of numberless admire ers.” LIL PERIOD WILL PURCHASE AT | FAIR PRICES SINGLY OR AS A COLLECTION ANY PORTRAITS, SILVER, CHINA, PICTURES OR MILITARY RELICS OE BEFORE 1800. GIVE DESCRIPTION OF ARTICLES AND HISTORY IN LETTER. STRICTEST PRIVACY ACKORLED TO ALL COMMUNI. TIONS FROM EITHER PRIVATE OWNERS OR ESTATE ADDRESS MYRON WILLIS, 5 iu WATER ST., BALTIMORE, MD
Significant historical Pennsylvania newspapers