NATIONAL PRESS BLDG W
ND
Washington—Throughout history,
unsound economic policies have had
a way of demon-
strating their un-
soundness by the
results that even-
tually become understandable to the
rank and file of the people. Like-
wise, throughout history the rank
and file of the people have learned
their lesson each time and have
avoided burning their fingers a sec-
ond time. That is, fingers were not
burned a second time until a new
generation came along and refused
to examine and take into account
the lessons of experience.
Lately, we have seen another
such demonstration. We have seen
both the results and the refusal of
current leaders to profit by exper-
iences of the past.
I refer particularly to conditions
nvolving United States bonds,
Those who have followed market
quotations must recognize that Unit-
ed States bonds and other securities
issued by the treasury have suffered
from fluctuations in prices that por-
tend, if, indeed, they do not prove
that federal financial policies of the
last four years were unsound. There
was propaganda from official quar-
ters during one of the periods of
sagging prices that the condition
resulted from market manipulations
and the activities of ‘tipsters.’ Sto-
ries to this effect came directly
out of the treasury although they
did not carry the identity of the
official who made the statements.
The whole circumstance must be
considered together, however, if one
is to arrive at any sort of a con-
clusion concerning the true state
of affairs. One must think of the
total amount of government secur-
ities outstanding — something like
thirty-four-billions—and one must
recognize as well what is going on
in commerce and industry. In addi-
tion to these factors, attention must
be given to conditions of the last
several years when the Roosevelt
administration was engaged — and
still is engaged — in the great-
est orgy of spending that our na-
tion ever has known. When you
add up these various factors, you
get an answer which seems to me
to be irrefutable.
In the first place, no nation nor
any of its individuals can go on
indefinitely spending money when
it does not have that money. That is,
it cannot spend more than its in-
come over any extended period
without suffering bad results. Our
nation did that. It made up the
difference between its income and
its spending by borrowing. It gave
government bonds to those from
whom it borrowed, evidence of its
debt. The immediate result of this
condition was that there are mil-
lions upon millions of government
bonds held by banks, corporations
and individuals. These bonds bear
an exceedingly low rate of interest.
It is only natural that anyone
with money to lend will look for the
highest interest rate they can get.
I1¢ they happen to hold government
bonds, those bonds will be dumped
in favor of securities paying higher
returns. That has happened to some
extent already.
» . *
It is to be remembered as well
that these bonds were issued in the
currency of the
+ Supply and devalued dollar,
Demand the fifty-nine cent
dollar as meas-
ured by the value of gold.
Now, the law of supply and de-
mand that has always operated and
which always will operate places
a basic value upon commodities,
upon the services of labor. It is op-
erating again and has brought about
a greater demand for commodities,
the things we need to eat or to wear
and the countless items of modern
day living. The prices of these,
measured in present currency, are
higher because it takes almost two
of the present day dollars to buy
the same quantity as formerly could
be purchased with the dollar that
was good for one-hundred cents in
gold. The answer to this is that most
of us can not help regarding gold
as a commodity having a stable
value. So, we see a result in this
direction.
Labor, too, is demanding more of
the fifty-nine cent dollars for its
share of production. It has a right
to do so. If you measure wages as
you measure commodity values,
and it seems to me there can be on-
ly one yardstick, then labor is justi-
fied in asking for higher pay.
Again, a result of tinkering with
the currency becomes evident be-
cause labor is forced to pay more
for what it buys as a result of the
reduction in the dollar's gold value.
Then, finally, I am quite con-
vinced that in addition to the fac-
tors I have discussed as having
weight in causing fluctuation of gov-
ernment bond prices, no one can
deny the influence that is being ex-
erted by the radical labor element
throughout the strikes that have
been promoted.
These strikes have done more
than just violate law by unjustified
and unwarranted seizure of the prop-
Experience
as a Teacher
erty of other persons. They have
a business.
The tragedy of this condition, to
a moment, is that the strikes show
ulation. It is not only a tragedy. It
is a dangerous sign and unless
ment asserts its authority and pro-
tects rights, we may possibly be
faced with a circumstance in which
again only by use of army guns.
% * *
To get back then to the bond
market it seems to me there is a
closely knit skein
Unsound
Ground prove where our
government has
gone into unsound ground. It can be
pointed out how the tinkering with
the currency has carried through
to the ultimate consumer and the
wage worker. It can be shown how
the national government has die-
regarded the rights of part of the
population and favored another part
of the population and in doing so
has created a class hatred which is
liable to cause trouble in the nation
for the next fifty years.
Notwithstanding the lessons to be
learned from these experiences we
observe how the same mistake is
being made in another way. I refer
now to the attitude of administra-
tion leaders who are supporting
President Roosevelt's program to
add six justices of his own choosing
to the Supreme court of the United
States. Throughout the argument
that has come from proponents of
the President's packing plan there
runs a constant and recurring ap-
peal that if we can only have six
new justices in the Supreme court
we can do all of the things that are
necessary to bring about labor
peace and complete business recov-
ery.
Disregarding the merit or demerit
of this argument, it seems to me
one cannot help looking somewhat
into the future and determining on
the basis of experience of the past
what may happen if the Supreme
court is emasculated as the Presi-
dent proposes.
I said earlier in this article that
there has grown up a tremendous
disrespect for law. The continued
prattle about the necessity for “new
blood” in the Supreme court is sim-
ply and frankly another step in the
direction of a government by men
and not a government by law.
It is to be recalled that Mr. Roose-
velt was given by his rubber stamp
congress more power than any
President of the United States ever
has exercised before. I do not make
the charge that the difficulties that
I have attempted to analyze aboye
resulted directly from according the
Chief Executive so much power.
But history surely teaches the les-
son that where one man has so
much power available he always
makes more mistakes than where
that power is exercised by the prop-
erly appointed or elected represent-
atives of the masses of the people.
I recall a homely saying, often
heard in my youth, that two heads
are better than one even though
one may be a cabbage head. I am
quite convinced that the 435 mem-
bers of the house of representa-
tives and the 96 members of the
senate have more wisdom collective-
ly than one man.
Adverting again to the questions
of currency and prices, we have
only to look across the Atlantic
ocean and see what happened in
Italy, in Russia and in Germany
lish his own ideas on the currency.
From what I have heard from offi-
those three countries I mentioned,
little more than the cash value of
the paper on your walls. It al
ways has worked out that way.
* * \
Some of the business interests of
the country apparently are taking
. time by the fore-
Take Time jock and adjusting
by Forelock themselves to con-
ditions where the
government is by men and not by
law. A few days ago the distilled
spirits institute announced that it
had elected W. Forbes Morgan as
its president. Mr. Morgan, an uncle
by marriage of Mrs. Franklin D.
Roosevelt, resigned as treasurer of
the Democratic National commit-
tee to enter the employment of the
liquor interests. While there was no
official announcement concerning
Mr. Morgan's salary, the gossip per-
sists that he is to be paid something
like five-hundred-thousand dollars
for five years’ work in his new job.
His election raises two questions:
What can Mr. Morgan do for the
liquor industry that is worth so
much money and, secondly, wheth-
er the selection of Mr. Morgan does
not show how stupid business in-
terests can be. ‘
© Western Newspaper Union.
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try are planning to abandon
the custom ever was started, a
radio sponsor is said to be figur-
Cer-
pects of the case have to be
ironed out before it can be defi-
plans call for the weekly award
listener holding the lucky num-
Numbers will be printed
sponsor’s product, purchasers
will be held which selects the
winner.
en
Hollywood studios have always
flattered themselves that they paid
their performers the ~ :
highest salaries in |
the world, but now
it appears that Mae
West, Marlene Diet-
rich, and Greta
Garbo are just poor
working girls in
comparison to
Gracie Fields, who
is England's favor-
ite star. Twentieth
Century-Fox could ra
not let the British arene
studios get away Dietrich
with a monopoly on the best of any-
thing, so they have put Miss Fields
under contract to make four pic-
tures in. Hollywood. None of the
pictures she has made in England
have been shown here, because in
them Miss Fields spoke the Lanca-
Czecho-Slovakian for all Americans
can make of it. Over here she
will deliver her lines and songs in
plain English.
etfs
From New York to Hollywood
Gloria Swanson’'s loyal friends gave
parties celebrating the end of her
too-long retirement from the screen,
when Metro-Goldwyn-Mayer an-
nounced recently that she was to
star in “Maisie Kenyon.” Now it
appears that the celebrating was a
little premature, because neither
Gloria nor the studio is satisfied
with the story, and her plans are
all up in the air again,
a
The most exciting and beautiful
picture ever made in Technicolor
comes from England and will soon
be seen in theaters throughout th
country. It is “Wings of the Morn-
ing" a United Artists picture. Har-
old Shuster went over from Holly-
wood to direct it, our own Henry
Fonda plays the lead, and John Mc-
Cormack, the Irish tenor who is
adored wherever there is a phono-
in it. As if that weren't enough,
they have tossed in for good meas-
ure authentic views of the running
of the English Derby.
wns
Sylvia Sidney gets the week's
award for being the best talent
scout. Some time ago Mare Con-
going to produce in New York and
she said that she knew just the girl
She had seen
very small part in a play and she
was sure Miss Locke would be won-
didn’t wait for Mr. Connelley to
send for Miss Locke. She located
her and she got the part.
si Wor
Eleanor Powell would like to form
an alumni association of her old
dancing school, but
all the people who
are eligible for
membership in Hol-
lywood are much
too busy making
pictures to be both-
ered with attending
meetings. There is
Ginger Rogers, Bud-
dy Ebsen, Ruby
Keeler, and Miriam
Hopkins — and they
are among the bus-
iest people out here.
ODDS AND ENDS—Marlene Dietrich
thinks _that
HR
T
Hi
|
i
UNCOMMON
AMERICANS
0
By Elmo
Scott Watson
® Western
Newspaper
Union
Christmas Flower
one of
flowers called
the poinsettia to add to the festive
appearance of your home at Christ-
those
ate the fame of an American who
little realized that his name would
become associated with one of the
For Joel
other
had so many
Born in South Carolina in 1779, he
abroad but his father in-
of entering the army and to be-
Poor health
He was about
eral when the secretary of war ob-
jected.
Instead he was sent on a dip-
mission to South America
where he mixed in the politics of
Chile, and fomented revolution un-
til he became known as ‘‘the
scourge of the American continent”
Next he was sent
to Mexico. Always interested in
country the flower which was given
the scientific name of ‘Poinsettia
Puicherina."”
Just as he had been a
petrel in international pe litics, so
he was a disturbing element in the
politics of his native land. During
the Nullification controversy in
South Carolina he organized and led
the Unionist forces. 3y doing
that he won the esteem of the nation-
al government and President Van
Buren made him secretary of war.
Poinsett improved and enlarged
the army, organized a general staff,
built up the artillery, directed the
Seminole war and managed the re-
moval of some 40,000 Indians to In-
dian Territory. In the midst of this
activity his scientific interests were
not neglected. He experimented
with scientific agriculture, sent ou
the Wilkes expedition into the Ant.
arctic and was largely instrumental
in founding the National Institute
for the Promotion of Science and
Useful Arts which later was
merged with the Smithsonian Insti
tution. His busy career came to an
end in 1851 while he was living in
retirement as a plantation owner in
his native state.
stormy
Brooklyn Bridge Jumper
ACK in the eighties the Brooklyn
bridge was one of the wonders
of the modern world, Its dedication
on May 24, 1883 was an event of
nation-wide interest but three years
later it was even more in the news
because of a man with whose name
that great span has been linked in
He was Steve Brodie, bootblack,
car conductor, sailor and
worker around the docks who be-
came a professional walker as a
means of earning some easy money.
But he was never better than a sec-
ond-rater and none of his walking
matches ever benefited him great.
ly. In the summer of 1886 he was
nearly “broke.”
One day in July he heard some
the river, 135 feet below. Seven of
had been killed.
“Huh, I bet you I could do it and
replied a
a scratch. Officials of the life in
surance company were furious be.
cause he had risked $1,000 of their
money to win $100. They returned
his premium and cancelled his poli
cy—which was foolish, for he lived
to a ripe old age!
His successful jump was widely
publicized. It won him an engage
ment in a melodrama called
“Blackmail” in which he had to
dive off a great height into a net—
a feat which, he declared, was even
more dangerous than his jump from
the bridge—and his performance in
this (at $100 a week) made ‘‘Bro
die, the Brooklyn Bridge-Jumper"
famous all over the country. His
achievement encouraged imitators
and during the next few years no
less than 11 others tackled the na-
tion's most spectacular high dive.
Although the first seven had per
ished in their attempts, Brodie
seemed to have broken the jinx,
for every one of the 11 survived.
By that time the novelty of suc
feat had somewhat worn oa
AROUND #45
the HOUSE &s
Cooking Vegetables — A small
piece of butter added to the water
in which vegetables are to
be cooked will prevent them from
boiling over.
3 . *
o the
EER
quired, first dipping them in flour
to which a little sugar has been
added. Saute slowly until soft and
browned. Place on a serving dish,
with two small sausages on each
half,
Flavoring Gravy — Half milk . » 9
and half water makes the best Ironing Shirts — Soft collars at-
colored and best flavored gravy. | tached to shirts should be ironed
, ww on the right then on
Suede Shoes — Rain wrong side This prevents
be removed from suede shoes by ing the c« r.
rubbing with fine emery board. : . 9
oh Baking Potatoes — Before put
you | ting tin,
a small hand- | stand for
tied in muslin | a few minutes, then drain on a
tbsorbs | clean cloth They will cook more
makes |
side first,
a ne
spots can | the
$1 'y
wWrinkgi
Boiling Cabbage — When
cook cabbage, put
ful of breadcrumb:
into the pan. The bread
all the bitter juices and
the vegetable more digestible. | . 9 9
Bi Making a Footstool — Do you
ake unique
out of the single spring
seats of an old a le? Cover
the old seat with uph and
attach castors at the four corners.
This will give you a comfortable
seat or fc for your summer
potatoes in the baking
them in boiling water
quickly and taste better.
Worn Socks
ten get enormous
of their socks. This is often due to |
the lining of the shoe wi
worn rough. If the ragged bits
are cut off and the inside of the
shoe covered tape,
many a large will be pre-
vented.
Children very of- | Know that you can n
holes in the heels | footstools
{ tomobi
oistery
with = x otetool
with adhesive NSLO0!
“hole cottage
» » »
Cocoa Egg Cake Filling — White
of one egg; one icing sugar,
four
half teaspoon
of egg until
Sausage and Fried Apples — |
Pan broil the required number of |
small sausages or cakes of sau-
sage meat and as soon as the fat
collects, many halved, | **
cored and unpeeled apples as re- |
cup
two teaspoons cold water;
tablespoons cocoa
eat
add as
rermrrerrrerrrrTeTETITER
Ask Me Another Press uch moisture as
A General Quiz | possible between the of a
4 ~~ 2
{ towel, then spread on a towel or
2 | blotter to dry
1. Who are the Pariahs? {
2. What measure
indicate?
INSIST ON GENUINE
3. Where was
3. was Libby prison?
4. Why are some trees called 0-( E DA W
deciduous
5. What was the origin of salut- |
ing?
6. When was the first wireless
distress signal used at sea?
7. Which is the world's longest |
railway tunnel used by passenger
trains? |
8. When is a
when lying dos
9. Is it illegal for
States’ President to tak
of office on Sunday? |
10. When was the first silver dol- |
lar coined? |
11. What is the meaning of cover
charge?
12. From where does
weight get its name?
Washing Embroidery — Do not
wring embroidery after washi
out as m
14
folds
© Bell Syndicate WNU Service
does
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Answers
1. Members of an
non-Brahmanic race
O (edar POLISH
MOPS « WAX
. IE Gaticios Pais st $1 00
abc riginal GLADS x wander, special ; ada.
of India; NORTHWESTERN BULE CO.
hence “outcasts.” Dept. B Asburn, tad.
2. Decimeter,
3. Richmond, Virginia.
4. Trees which are not ever-
greens are called deciduous.
is derived from the Latin “d
meaning down, and ‘‘cadere,’
meaning fall; and refers to the
falling of the leaves. |
5. It is said to date back to the |
Borgias, when inferiors, coming |
into the presence of their supe- |
riors, raised their hands to show
no dagger was concealed.
6. January 23, 1900, when White |
tar liner “Republic” collided > L A a} ay Fy 3 | E D
with the “Florida.” It was not |
SOSbhutCQD.
7. Golders Green to South Wim- | DEPARTMENT
bledon, London. Total length 16% |
miles. {mm = Thm
8. When lying down. As much | BABY CHICKS
as an inch has been noted. | TOM BARRON'S Strain White Leghorn
9. No. President Wilson did #0. | Chicks. If you like large Leghorns and
10. In 1794 large “gf change to this great strain this
« AD 179s. . ear, any of our breeding males are
11. A charge made for the privi- | from Imported stock whose dams have
: egg records up to 213 Beautiful circular
lege of occupying a place at a | free. REATWOLE'S ENGLISH LEGHORN
cafe or restaurant. It does not | FARM, BOX W. HARRISONBURG, VA.
include the cost of the food con- | AGENTS
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