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ickard
Balance Budget: Morgenthau
USINESS men of America re-
ceived a cheering message, pre-
sumably direct from the adminis-
tration, delivered by Secretary of
the Treasury Mor-
genthau. Addressing
the Academy of Po-
litical Sciences in
New York, Mr. Mor-
genthau declared
the time had come
for balancing the
budget, but said this
should be accom-
plished without addi-
1 tional taxation.
: : Encouragement for
Secretary industry and busi-
Morgenthau |... agstated thus:
“The laws should be so written
and administered that the taxpayer
can continue to make a reasonable
profit with a minimum of inter-
ference from his federal govern-
ment."
Moreover, the treasury head went
on record as opposed to a continu-
ance of the era of unlimited govern-
ment spending. Said he: “The basic
need today is to foster the full ap-
plication of the driving force of
private capital. We want to see
capital go into the productive chan-
nels of private industry. ‘We want
to see private business expand.”
The plan advanced by Mr. Mor-
genthau for balancing the budget
was to bring next year's expendi-
tures, under the 1939 budget which
takes effect next July 1, within this
year's revenues. To achieve a bal-
ance, exclusive of debt retirement
payments, the present scale of ex-
penditures would have to be sliced
$700,600,000, he added.
While he urged against tax in-
creases, Mr. Morgenthau suggested
that a broader base for income
taxes, increasing the number of tax-
payers above the present 3,000,000,
would be a more equitable substi-
tute for the present federal taxes
on consumers—the so-called nui-
sance taxes,
ne
President's Building Plan
RESIDENT ROOSEVELT, in a
conference with several business
leaders, told of his new plan for
checking the threatening depression
by stimulating private home build-
ing by private capital. He re-
vealed no details, but Chairman Ec-
cles of the reserve board said the
President was confident such a pro-
gram would reach full scope next
year. Eccles was unprepared to say
whether the undertaking would be
directed through a new government
agency, but thought legislation of
some sort probably would be neces-
sary.
One suggestion is that the social
security reserve be used for loans
for home construction. At present
it is being used to pay current gov-
ernment expenses.
The recent decline in residential
building is generally held responsi-
ble to a large extent for the slump
in steel mill activity from 80 per
cent of capacity to 40 per cent.
an
Shanghai Falls to Japs
STUBBORN defense of Shanghai
by the Chinese came to an end
when the Japanese troops made
their way across Soochow creek and
occupied the entire city. The de-
fenders retired westward and pre-
pared to block the way of the in-
vaders toward Nanking.
The victorious Japanese spread
death and destruction through
Shanghai, and mercilessly shot
down the Chinese groups which were
trapped in various quarters. They
turned machine guns on a platform
inside the international concession
from which a number of foreigners
were watching the fighting, and
Pembroke Stephens, correspondent
of the London Daily Telegraph, was
In Brussels the Far East peace
conference was considering a plan
for giving direct aid to China if
Japan should reject mediation. Co-
ercive action against Japan was not
thought advisable, but the idea was
that China should be permitted to
obtain munitions and arms to keep
up her fight. The chief difficulty
would lie in American neutrality
legislation.
*e
Corn Crop Estimates
RODUCTION of corn in the Unit-
ed States this year will total
2,651,303,000 bushels, the Depart-
ment of Agriculture estimated on
the basis of November 1 conditions.
The estimate was 89,457,000 bushels
936,000 bushels a month ago.
vested.
Private estimates of the current
crop ranged between 2,613,000,000
and 2,710,000,000 bushels, with the
average about 2,636,000,000 bushels.
wore
France Buys Our Gold
WO big shipments of
the Normandie.
would follow before long.
tri-partite agreement, which binds
Great Britain, France and the Unit
ed States in a ‘‘gentleman’s pact”
to maintain currency stability.
soe
Ramsay MacDonald's Death
AMSAY MAC DONALD, who
rose from poverty and obscur-
ity to become three times the prime
minister of the great British em-
pire, died suddenly of heart disease
on a steamship bound for South
America where he was to take a
long vacation with his daughter. He
was seventy-one years old and had
been practically out of politics since
1935, when Stanley Baldwin succeed-
ed him as prime minister, Mac-
Donald at that time was offered a
peerage but declined the honor.
Even his political foes admit that
he was one of the outstanding states-
men of the time.
w
taly Joins Anti-Reds
M USSOLINI has given the dem-
ocratic governments of Europe
something else to worry about, for
Italy has joined Germany and Japan
in their agreement
to combat commu
nism, and no one
knows how far this
alliance will go or
just what are its in-
tentions, The three
“charter members”
of the pact—that
status was given
Italy—hope that all
other fascist minded
nations, including
Poland, Portugal, Joachim
Hungary and some YouRibbentrop
of the South American republics,
will adhere to the agreement.
Political observers saw the pros-
pect of a world divided into three
camps — fascist, communist and
democratic.
Emerging as one of the probable
chief leaders of this united front is
Joachim von Ribbentrop, German
ambassador to Great Britain. Hitler
sent him to Rome to sign the new
pact, and it is expected that the
headquarters of the alliance will be
in Berlin.
Officials in Rome stated the pact
was not directed against any coun-
try and said Russia might have all
the communism it wants so long as
she keeps it at home. But they in-
timated the military forces of the
signatories were ready to back up
the agreement.
Brazil Has a Dictaror
ETULIO VARGAS, president of
Brazil, is now dictator of that
country. In a coup that was unop-
posed he dissolved all legislative
bodies and put into effect a new
constitution with corporative fea-
tures. He issued a manifesto de-
claring the suspension of payment
on all government debts abroad.
The foreign relations ministry in
Rio de Janeiro said Vargas’ coup
was not connected with European
political ideologies and denied re-
ports Brazil planned to join the
German - Japanese - Italian pact
against communism,
san
Reasons for Thanks
MERICA can be thankful for the
blessing of peace, President
Roosevelt asserted in a proclama-
tion designating November 25 as
Thanksgiving day.
many parts of the world by strife
and threats of war finds our people
enjoying the blessing of peace,’ he
said.
against other nations."
many men
ment.”
ne
Bloch to Head Navy
the American navy will have a
new commander-in-chief in the per-
son of Admiral Claude Charles
Bloch, nominated by Secretary
Swanson to succeed Admiral Hep-
burn. The son of a Czechoslovaki-
an immigrant and a native of Wood-
bury, Ky., he is now fifty-nine years
old.
val academy Bloch served
“Fighting Bob" Evans on the U. S.
8S. Iowa in
war and was cited for “meritorious”
service in rescuing Spaniards from
burning ships of Cervera's squad-
ron. During the World war, as com-
mander of the transport Plattsburg,
Bloch won the navy cross for ''dis-
tinguished service."
ws Wena
Judge Graham Passes
\ ILLIAM J. GRAHAM, presid-
ing judge of the United States
Court of Customs and Patent Ap-
peals and for nine years a Repub-
lican congressman from Illinois,
died of heart disease at his home in
Washington. He was sixty-five years
old.
on Yon
ECRETARY OF THE NAVY
. CLAUDE A. SWANSON re-
ported to the President that the navy
is stronger than at any time since
war days and is
moving steadily up
to the full strength
permitted by the
treaties abrogated
by Japan. It will not
go beyond the limi-
tations in those
pacts unless other
nations do so.
Under its big re-
placement program
; the department has
Sec. Swanson der construction
two new battleships and has appro-
priations for 85 other warships.
These include three aircraft car-
riers, one heavy cruiser, nine light
cruisers, fifty-five destroyers and
seventeen submarines.
Five years ago the total num-
ber of under age vessels was 101 of
728.050 tons, with twenty-three ves-
sels of 122,500 tons under construc-
tion. Today the navy has 113 ves-
sels of 869,230 tons under age, and
under construction.
nn
Farm Measure Ready
OLUNTARY crop control
wheat, corn, rice and cotton;
and compulsory limitation of tobac-
co production, are provided for in
the new farm measure drafted by
the house committee on agriculture
for action in the extraordinary ses-
sion of congress.
Secretary Wallace's ‘ever normal
granary’ plan is included in the
bill. The measure also provides
for “tariff equalizing taxes’ which
processing taxes which the Supreme
court declared unconstitutional.
to wheat, cotton and rice—3 cents
a pound on cotton, 20 cents a bushel
rice
commodity loans,
preventing excessive prices.
sno
PRESIDENT ROOSEVELT has
authorized the use of his fifty-fifth
birthday, January 30, for the promo-
tion of the nation-wide fight on in-
fantile paralysis. As in previous
years, the day will be celebrated
in many cities with balls. This time
the funds raised thus will not be
handed over to local agencies but
will all go to the National Founda-
tion for Infantile Paralysis which
was created recently by Mr. Roose-
velt. The President has approved
the appointment of a committee
headed by Keith Morgan of New
York to arrange for the celebra-
tions.
Ask Me
Another
A Quiz With
Answers Offering
Information on
Various Subjects
1. How much of the earth’s sur-
face is water?
2. What is the average length of
a rural mail route in the United
States?
3. Did Luther Burank have
any of his plants patented?
4. What is the opposite of a de
facto government?
5. What is the total area of the
United States and all of its posses-
sions?
6. In Greek mythology, who had
dominion over the winds?
7. Is shellac a synthetic prep-
aration?
8. Who is able to sing the high-
est notes?
9. Was Grover Cleveland the on-
ly Democratic President prior to
10. Who is sponsoring the floating
weather bureau in the mid-Atlan-
tic?
Answers
1. The superficial area of the
soprano of the Dresden Opera
company, sings consistently within
the register above high C and is
able to take the C above high C.
It is said that no other singer in
modern times has been able to
achieve this extraordinary height
of voice.
9. I the sense of the modern
alignment of the major parties, he
may be said to have been the only
Democratic President before Wil-
son. Johnson was a Democrat,
however, as was Buchanan, and
as were Jackson, Jefferson and
others, and traditionally they, es-
pecially Jackson and Jefferson,
are claimed by the Democrats of
today.
10. This floating station is spon-
sored by the French ministry of
air, "Air France" and the French
Line. It will operate in the North
Atlantic, and at regular intervals
it will flash weather reports to
aviators who are crossing from
America to Europe, or vice versa.
“You Must Have!”
The portly man was trying to
get to his seat at the circus. “Par-
don me,’ he said to a woman,
“did 1 step on your foot?”
“] imagine s0,"”" she said after
glancing at the ring, *“‘all the ele-
phants are still out there.”
Nothing gives a girl more nat-
ural charm than a graceful car-
riage, says a beauty authority,
| But for a boy to have charm he
| needs a sporty coupe.
Didn't Impress Him
A doctor said to his daughter:
2. The average length is 35 |
miles. The longest route is Route
Thought for Youth
No. 1, Brawley, Calif.,, which is |
94.28 miles in length.
3. The scientist received nine |
plant patents posthumously.
4. De jure government is one |
existing by legal right or interna-
De facto gov-
respective of its legal authority.
5. The land and water area of
the United States is 3,738,385
square miles.
6. Aeolus.
7. Shellac is secreted by an in-
sect. While repeated experiments
have been made to make it syn- |
thetically, none has been success-
ful.
8. Miss Erna Sack, coloratura |
ET no youth have any anxiety
tion, whatever the line of it may
be. If he keeps faithfully busy
may safely leave the final result
to itself. He
certainty count on waking
one of the competent ones of his
generation in whatever pursuit he
may have singled out. Silently
that class of matter will have built
William James.
| “Did you tell the young man that
{ I think he’s no good?”
“Yes. He said it wasn’t the first
| wrong diagnosis you had made.”
i
i
{
One for the Judge
Policeman (to motorist)—Take
{ it easy, don’t you see that notice,
“Slow Down Here''?
Motorist—Yes, officer, but 1
thought it was describing your vil-
lage.—Safe Drivers.
| “Burglar arrested in bath.” Ap-
parently, he came clean.
No Half Measures
The young man stood before the
grizzled mountaineer.
{ “Mr. Burbridge,” he stam
mered, “I've—I've come to ask
| for your daughter's hand.”
The mountaineer knocked the
| ashes out of his pipe.
| “Can't allow no such thing,” he
|drawled. “You takes the whole
| gal or nothin'!"’
Using Firestowe Ground
Tires, Paul Sticfbolds wd 52
bighest score Jor any ome meet,
with 925 points owt of 100. Heals
bad the largest number of fhoints
for the four contests, 356% oud
of a porssble 400,
Carl Shoger bad the bighest
average score per contest with 90
out of 100 possible points, msing
Firestone Ground Grip Tires,
were equipped with Firestone
Ground Grip Tires
all-purpose tractor tires scored
a possible total of 4100 for the
3500% points out of
four contests.
GREATER TRACTION
— Takes a deeper,
action.
of Gum-Dipped cords under
the tread bind the
guarantee they will not separat
e.
GREATER DRAWBAR
PULL enables this
the International
Clarence Shoger won first place in
the Young Men's Class in each of
the four contests om Firestone
Ground Grip Tires
acta