Evening Star Newspaper, March 30, 1930, Page 31

EDITORIAL SECTION The Sundiwy Star. WASHINGTON, D. C, SUNDAY MORNING, MARCH 30, 1930. HOOVER-M'DONALD PARLEY| IS CALLED FIRST BLUNDER | FPacts About Unemployment Premier’s Visit Angered France. Ob-| STANDARDIZATION FACTOR IN LIVES OF AMERICANS Forces Making for Uniformity in United What Are the Conditions in the United States Today—What Uncle Sam Is Doing. States Are Strong_Peop]e Dislike server Declares in Pointing Out Five “Mistakes” of BY FRANK H. SIMONDS. ONDON.—Sitting _down to write the history of the Paris Peace| Conference according to the Wil- son version, Ray Stannard Baker divided the historic_session into| five major crises. While it patently is too soon to write a history of the Naval Conference, it is at least possible thus early to describe the five major blunders from which have flowed the | most considerable difficulties in London. The first of these blunders was that of Macdonald. When, despite the ear- | Test, rather horrified protests of not a | few Americans, official and_otherwise, the British prime minister hastily de- cided upon the Washington excursion he received a private but pressing mor- sel of advice from one of his recent predecessors, no less experienced a con- ference manager than Lloyd George bimself. Advice Was “Through Paris ‘The advice of the Welsh wizard was terse and pointed. In effect it was this: | “If you must go to Washington go via Paris, it will be easier to make terms with Tardieu before than after you have talked to President Hoover.” What Macdonald answered is not recorded, if, indeed, he made any answer, but at least it is clear that he totally rejected the advice. ‘The results have been written on every page of the story of the London Conference. While Macdonald and Hoover were sitting on a log beside the Rapidan smoking their pipes and ar- naval programs for the five great powers, three of which were un- Tepresented there on the old Virginia front, Tardieu was getting together the material later published in the Decem- ber mnote of the French government. And France was slowly but surely work- ing up to a state of mind which in- variably follows the attempt of the Anglo-Saxon nations to deal with world questions in total disregard of the ex- istence of France in the world. Hoover’s “Mistake” at Breakfast. No one can exaggerate the amount of time and energy which has been expended since that moment on the Rapidan, alike by British and Ameri- can representatives, in trying to con- vince the suspicious and incredulous French public that the Hoover and Macdonald episode was not a con- | spiracy to establish an Anglo-Saxon hegemony, to deny Prance recognition as a great power, and to prepare a London conference which should com- plete the humiliation of France begun at the Washington session. The second capital mistake was of Hoover in giving to Stimson and his associates, as a farewell message at a White House breakfast, the primary duty of bringing back a treaty which | should provide reduction in naval es- tablishments. The mistake lay in the fact that at no time was there any chance of reduction. At the Rapidan Macdonald had told the President that the minimum figures for British cruiser strength were 339,000 tons and 50 ships, | and, further, that this estimate was ‘whol conditional upon a French policy which had aiready been pre- determined in a hostile sense by the mere fact of the Rapidan conversa- tions. Reduction in Fact Impossible. But since the United States had, built and building, but 20 ships of 170,000 tons, to obtain parity, which was the basic demand of the United States, involved the actual doubling of +he American cruiser tonnage and the numeer of American ships. us, while the American public responded enthusi- astically to the President's word and accepted reduction as the acid test of success at London, Stimson and the American delegation fared forth upon the journey knowing in advance it reduction in fact was impossible. ‘The third error resulted from the second. When the first reports of actual programs flowed back from London to America there was an explosion of American sentiment expressed in the Petition of the Twelve Hundred, asking that Mr. Stimson give his best efforts to obtaining reduction. And in a mo- ment of natural embarrassment Stimson undertook to mobilize the non-existent and obsolete tonnage of American Navy ships that had not been begun and ships, cruisers, destroyers and sub- marines which, by virtue of the pas- sage of time, had become obsolete to prove that he was carrying out the will of the American people and the wish of the President. But the fatal effect of the Stimson statement, promptly disproved, was to Naval Steps. destroy the last vestige of faith that the London Conference was in truth a re- duction conference, thus disappointing the pacifists and idealists, and at the same time awakening the apprehension and even protest of champions of the big Navy. To get parity with Britain e had to build, not scrap, but our building program announced in London outraged the pacifists, while our scrap- ping program reported by the Secretary | of State disquieted the navalists, The fourth blunder was made by | Tardieu. He had just won a notable success at The Hague Conference. Hav- | ing taken office with a scratch govern- ment and, after a long severe struggle at | the Dutch capital, having achieved a sweeping victory, he came to London | satisfied that his home situation was safe and that he would be able to gain new laurels abroad while he was im- mune from attack at home. In this be- lief he lingered on in London for the first fortnight sessions. Ttaly Blunders in Stand. But France was not interested in the London Conference. Reports of new successes of the French premier did not in the least interrupt the politicians in the Chamber of Deputies from organ- izing & conspiracy to turn Tardieu out. The result was that Tardieu returned from London after a fortnight, during which he had manifestly been the dominating figure, only to fall abruptly and ignominiously. And if this mistake was only temporarily costly to Tardieu, it paralyzed the Naval Conference for nearly a month and produced evil con- sequences beyond exaggeration. ‘The last in the series of blunders was that of Mussolini directly and Grandi, his representative, indirectly. Like Briand before the Washington Confer- ence, Mussolini seems to have diagnosed the London affair as a struggle in which Italy could safely base its course upon the general idea of rushing to the succor of the victor. London was to be the scene of a battle between France and the English-speaking countries, and Italy was to_get what she wanted by supporting Britain and the United States inst France. ifficulty lay in the fact that what Italy wanted was nothing more nor less than a prestige prize. Italy had a small fleet, not two-thirds of the French; Italy was patently too poor at the moment to build it up to the French level, but to satisfy the Fascist pro- nunciamentos Italy was to claim and get parity with France. The trouble | was that France had a larger navy and money to carry out it naval program. Italy is Left in Corner. In such a case, when France frankly laid her figures on the table openly and offered to modify them if other nations either did the same or joined to give her that security pact which she de- sired Italy was left in a corner. She had no real figures to present, she had not the smallest intention of building. Thus in due course of time Grandi found himself not only aiding the Anglo-Saxon nations against France, but actually subjected to pressure by the Anglo-Saxon representatives to drop his vanity values and to come down to actual building programs. But, committed as he and his master were to the single issue of parity, the path- way for both was difficult, and another vexation was added to the many of the | Naval Conference, Japanese Stick and Win. And what of the Japanese? Did they, too, make a blunder? No. At London, as at Washington and Geneva and at Paris, all three, they knew what they They restricted their demands wanted. to the limits of the possible, if not rea- | sonable, and they awaited the moment to press these demands when every one else needed them. Before the Japanese delegation left Tokio it announced that the Japanese demand would be for a ratio of 70 per cent in auxiliary craft instead of the Washington ratio of 60 per cent in battleships, and as I write now, with the conference still unended, they have obtained 69.7 per cent. And if the London Conference has proved anything, it has demonstrated once more the unmistakable fact that, in diplomacy at least, the East has noth- ing to learn from the West. I do not know whether Japanese diplomacy should be described as old-fashioned or new, but whatever the adjective, the fact is that it is the “goods.” It makes no mistakes, loses no opportunities, carries off the prizes and escapes all criticism for performances which are angrily denounced in the case of all others. (Copyright, 1930.) Chemist Copies “Accidents of Nature” To Produce Rare Metals in Test Tubes We can't all have roofs of gold in-| stead of copper, lead or tin, because in | nature the baser metals are more prob- able and therefore more abundant; they had more chance of being formed | in the vast crucibles of time. It isn't merely an accident that gold is rare and aluminum is plentiful on earth, nor that windows are not made of diamonds, yet so great has been the addition which chemicals have made to the world's storehouse, even in the last decade, that the time will come when | products which are rare today will be | plentiful, said Prof. Norris F. Hall, Uni- | versity of Wisconsin chemist, in a yecent broadcast. His subject was' “Why Not Acres of Diamonds?” Within recent years the whole com- lexion of modern life has been changed gy the development of a host of new roducts of physico-chemical research, grol. Hall said. Radio tubes, cheap ructural steel, duralumin for airships are a few examples. Beyond these still | Hes a vast field of research before a final goal is reached. ‘We still feel a profound dissatisfac- tion with a world where foodstuffs and clothing must be slowly and painfully produced by toilsome processcs, where rare metals must be hunted with hard- ship and danger, where radium is so rare that we must pay fortunes for & tiny quantity. Surprising, too, perhaps, is the fact that, except for local variations, the entire universe consists of the same stuff as our earth—the same 90 chemi- cal elements and their combinations. And there is some evidence that these exist all over the universe in similar proportions. This is true not merely | because of geological changes in the history of the planet, but because it is so from the nature of things. In the eons during which the planet was in the making, an atom of a baser metal had more chances of being formed than the more complex atom of gold. By accidents of nature, in which a molten earth gradually solidified, it is possible that the heavier metals sank into the core, leaving traces in the outer shell which man now mines. Rare radium breaks up as fast as it is formed. hter s like hellum escape out Peyond our atmosphere. gold from lead can recombine the ele- ments into new proportions or under exceptional conditions into new and valuable products. This he is doing year by year. Certain precious stones have been made and are being made in labora- tories. Windows are now being pro- duced of pure fused quartz. As long as the necessary elements are at hand in sufficient quantity, the skill of the scientist of the future will create useful combinations of them. Laboratories and endowments are the first requisites and the easiest to pro- vide among the influences which will make the gifts of scientific research to humanity come more rapidly, Prof. Hall added. Increased endowments are a promising speculation. Trained and inspired scientific workers to en- gage In the adventures of research are a final need. Turkey Finds Itself In Financial Straits Turkey’s financial situation is in a turmoil at the moment, the piaster having taken a steady downward drive during the last few weeks and the banks having suspended many of their plans pending adjustment of the situa- tion. The government, always ready to use an iron hand when the occasion requires, has decided to take over super- vision of all exchange agencies to pre- vent speculation and has temporarily suspended all foreign purchases by the government banks. Official permission will be required before foreign concerns here will be allowed to sell piasters in exchange for forelgn currency and strict measures are to be taken in the case of those who spread disturbing rumors. Meanwhile the government is speeding up its plans. for the establishment of the state bank and for the stabilization of the currency, the recent visit of Count Volpe, former Italian minister of finance, being attributed to the fact that he was called to assist in the oper- ation. The reason for this bad slump is supposed to be the great rise in imports |and the subsequent export of Turkish | gold on the eve of the date when the Despite these ohstacles, says Prof. Hall, the =~~~ -t who cannot make new protectionist tariff is come into offect. AMERICA HAS KEPT ITS FACTORIES OPEN AND AVOIDED A SERIOUS UNEMPLOYMENT CRISIS. BY JAMES J. DAVIS, Secretary of Labor of the United States. KNOW unemployment, not merely | in Wales sent my father, a skilled iron as a word, or as a collection of | worker, to America to secure work. But when I came to America with my fully employed and numbers not | mother and her five other children, we did not live in Pittsburgh, as planned— because my father had lost his job there by reason of closing of the mill. In. stead, we went to Sharon, Pa., where my father eventually was able to find ] statistics showing numbers gain- employed, or as an “issue” by which political orators seek to garner votes. I know unemployment as a hard, cruel fact. I have been one of an army of unemployed proportionately much BY DONALD E. KEYHOE, Author of “Flying With Lindbergh.” SPEEDING across a Midwest fleld,‘ a small airplane soared toward the creeping mists that hovered | above the ground. The pilot reached the fog “ceiling” within | a few seconds and leveled off, to race | along under that gray blanket—for this | was 1921, and deliberate, blind flying | through fog was then considered suicide. For a few minutes the ship sped along | 200 feet above the rolling ground with its patches of trees and farms. Then, to the pilot's alarm, the ‘“ceiling” bfin.n{ to descend slowly, as the fog thickened. The swirling mist clouds pushed the, ship lower and lower. The pilot hastily | looked for an open field, but none was visible. He swerved around to return to his base, but behind him the treacherous fog had already closed down, completely shutting off his retreat. He glimpsed a small opening in the | gray wall and darted through it, diving | for the only clearing he could see. Into| this small field swept the plane. Vainly the pilot tried to stop before reaching | the opposite fence. Two stout gateposts | loomed up. The ship grazed them in| a last zoom, only to crash squarely into | a ditch beyond the fence. | From the splintered wreckage crawled | the pilot, miraculously unhurt, but very | much subdued. He sat down on a crumpled wing and regarded the de- { molished ship thoughtfully. Pilot Now Aeronautics Secretary. “I was deciding on a new rule,” ex- plains Maj. Clarence M. Young, who was the subdued and thoughtful pilot. Maj. Young is now the Assistant Secre- tary of Commerce for Aeronautics, by virtue of which office he has charge of regulating and promoting the civil avia- tion industry. “I decided from then on I would never take off in bad weather without the proper instruments. Since then I have added one or two other rules, after being forcibly impressed with the necessity for them.” Maj. Young's first interest in flying began, like that of many veteran pilots, at the time of the first air meets in the United States—back as far as 1907, when two French fiyers performed what then seemed miracles to him over his home, at Des Moines, Towa. The frail biplane which the two Frenchmen flew would be objects of curiosity in a mu- seum today; and, strangely enough, the youth who watched their maneuvers with such fascination now is charge with the duty of enforcing laws forbid- ding such flying over cities. By the time the World War broke out {Maj. Young had been graduated from larger than the number at present out | work. Lack of steady employment | perience of obtaining a job as a skilled iron worker, doing very heavy work for a few weeks or months, and then being id off when the mill closed for an indefinite period; only to go through the same experience again several times in the course of a year or two; to be through _Ohio, Pennsylvania, Indiana, Alabama, Louisi- ana during the panic of 1893. In my youth, I knew the ex- MAJ. CLARENCE M. YOUNG—HE 1S MAKING THE AIR SAFE ROE]-“‘AVELER& DRAWNGF—OR THE SUNDAY STAR BY S. J. lure of air battle was st an one of the first to apply for training. He was sent overseas and was assigned to Italy and the Ital “I was ordered, with e “We were using huge three- engine Capronis, each plane carrying a bombadier, two machine gunners and a The bombadier sat beside the pilot. One gunner was in the bow cock- 16 other pilots the Yale Law School and had begun his prentine of law in the Middle West. The to take part in a bo ing expedition | pit and the other in a sort of machine- enn box behind and above the pilot. Drawn for The Sunday Star by Robert Lawson. It was during that period that I subsisted by working in a camp on the levees of the Mississippl River in Louisi- ana. And it was the growth of a new | Industry under tariff protection that | gave me permanent employment. I saw the little new tin mill at Elwood, producing about 1,000 boxes of tin plate a week, grow into an industry produc- (Continued on Fourth Page.) “As those big bombers were not used for anything but straight fiying, ordi- narlly, hardly any of the crew secured their belts, except the gunner in the ‘pill-box’ behind the pilot. We took off in the 17-plane formation and headed toward the front, climbing for altitude s0 that anti-aircrat fire could not reach us. “Unfortunately, just as we neared the Plave River, which was the dividing line, one of my engines began to miss. 1 kept on, trying to gain height and get over a cloud bank before me. The other planes passed above it. There was no other way out, so I went into the cloud. Ship Turned Upside Down, “The enemy artillery must have had the range of that cloud. Suddenly anti- aircraft shells began to burst around us. The Caproni pitched and tossed in the rough air. Then one shell burst so close that it seemed we would lose our wings. The huge bomber was whipped clear onto its back, and the first thing I knew I was hanging out, upside down, trying to get back to the controls. “At the instant we turned over the bombadier accidentally jerked his bomb releases and all our load of bombs dropped. ‘That was lucky, for we might have been blown up later. The bow gunner was dangling clear out of his cockpit, struggling frantically to get back. The rear gunner was more fortu- nate, for his belt was fastened. “At last I managed to pull myself back into the seat, still upside down, and seize the control wheel of the big plane. I had just enough time to right the ship, but it came up so violently that my feet were jammed under the rudder bar. Before I could get them back and turn the plane away from the Austrian side of the river we were headed straight for a sand bar. As the engines were dead there was nothing I could do. We struck the bar and skidded along tll the wheels dug in, and then we turned over. “We didn't lose any time getting out, and as no one was hurt we began to run toward some tall reeds on the shore. By this time machine gun bullets were hit- ting the ship and the sand bar. We plunged through the reeds, but almost immediately bullets began to cut up the ground in front of us. We stopped just €s a detachment of Austrians came up. Became Austrian Prisoners. “That was the end of our bombing hop, and also of our active duty in the war. We were prisoners in an Austrian prison camp for five months. At first it was quite unpleasant, for our few boxes of food from the outside were usually opened and rifled before we got them. But at the last conditions im- ved, and pur guards, who were Bo- SontiMied on. Third Page.) BY MARK SULLIVAN. EVERAL Senators and Representa- | tives, together with some Wash- ington correspondents, spent last week preparing for an amusement | which was to consist of a compe- | tition in spelling. Kentucky, Virginia| and several other States have passed or initiated legislation designed to check | the spread of chain stores. | Between those two sentences there | seems to be no relation. But there is a | relation. The thing that spelling and chain stores have in common is stand- ardization. Standardization of spelling came just a little over a hundred years ago. Standardization of stores, through | chains, is just attempting to establish | itself universally. Standardization of spelling encountered practically no op- position. Standardization of stores, of | food supply and of the other aspects of stores is meeting vigorous opposition. A political scout for one of the two party organizations who went on a listening expedition to the Middle West last week reported that in Indiana there is more excitement about chain stores than about prohibition, tariff or any other similar topic. In some com- munities there is something almost like military resistance to chain stores, with an anti-chain organization called the “Minute Men.” Standardization, resistance to stand- ardization, the fields in which stand- ardization has established itself, the flelds in which it has failed, the ad- vantages of it in some lines and its dis- advantages in others, the benefits it brings and the detriments that accom- pany it—all that composes one of the most powerful forces of the age we live in—one of the most seething ferments. Former Characteristics. ‘The standardization of stores through the chain may or may not be success- fully resisted. In some fields stand- ardization has been repelled. But the forces making for uniformity are very powerful. One of the forces consists of our own weakness as individuals, our shamefaced unwillingness to be differ- ent. We have even in many respects standardized ourselves as human beings. ‘When the writer of this article was first familiar with Washington, during the administration of Roosevelt, one could sit in the gallery of the House, or stroll along Pennsylvania avenue, and in four cases out of five name the locality from which a Senator or a Rep- resentative came. There were sectional characteristics—a characteristic South- ern dress, a characteristic Southwestern hat, a characteristic Western tle, a characteristic New York and New Eng- land modishness. There were different sectional characteristics of hair cut and of facial forestation. Most obvious of all, there were characteristic sectional pronunciations and turns of speech, Today, sit in the gallery, and the Representatives look as much alike and dress as much alike as the pallbearers at a funeral. There are still fairly dis- tinguishable differences of voices and pronunciation, a vanishing New Eng- land twang, a fading Southern drawl— but they decrease year by year. If the standardization of stores through chains goes as far as the standardization of Congressmen has al- ready gone, in that event a country | store in upstate New York will soon look as identical with a store in Ore- gon as is already the case with gasoline fAlling stations. ‘Wrote Dictionaries, Standardization in spelling came as jthe result of the first dictionaries. Noah Webster, in America, a little over a century ago, and Dr. Johnson, England, about a century and a half ago, set themselves up as authorities. They compiled dictionaries. From sev- eral current spellings of a word they picked out one. That one, they said, was_correct—all others incorrect. The public, with a sheep-like way it had in some respects, permitted the dictionary makers to “get away with it.” They allowed Webster to be the autocrat he set himself up to be. Thereafter any- body who spelled differently from Web- ster was incorrect—and also comic. To laugh at the person who departs from the conventional in any fleld is the least of the punishments visited upon him. Sometimes he is treated more severely. In some ages and in some fields he has been put in jail or hanged or_burned. In the case of spelling, it became uni- versal to laugh at any one who de- parted from the standardized form. Upon this American trait was built up a whole school of American humor— to Be Different. V. Nasby. In the writings of these men almost the whole point depends upon their deliberately incorrect lpellm. Translate any of their writings into correct spelling and it has little par- ticular point or wisdom or other out- standing merit. To say “this is too much” doesn't make anybody laugh. But after and since Artemus Ward spelled it “this is 2 mutch,” millions of Americans have roared. Differed From Standard. When the judges in this spelling con= test in Washington said that a Senator had spelled a given word, “incorrectly,” the judge merely meant that the Sena- tor's spelling had differed from the spelling in “standard” dictionaries. That is what happens—a standard is set up somehow or by somebody. In the course of time the standard is gen- erally accepted. Thereafter anybody. who departs from the standard is called “incorrect.” In some flelds in which standards have been set up the person who departs from the standard is said to have committed a crime of a social solecism. In practically all fields, in- cluding clothes and manners, the person who doesn’t act according to standard !-‘la ;els’nrded as queer, eccentric, a little In the spelling contest, if Senator Fess or Senator Allen spelled “music™ or “dancing” in the ways in which George Washington spelled these words, the Senators would have been called in« correct and would have been given & demerit in the score. But George Washington did not spell incorrectly. He spelled differently—which is quite another thing than spelling incorrectly. Yet, so far has standardization gone in spelling—and in some other fields— that to be different is to be incorrect. Washington’s Spelling. George Washington wrote in his diary for August 27, 1772, that he “Dine and on September 4 that he “dined,” and he alternated the two spellings all through his diary. In re- cording a wedding he wrote “maryed.” He described a frontier bedcovering as a “bairskin,” and -he described another bedcovering of different material as & “thread Bear blanket.” He wrote in his diary during November, 1749, “Dogs or Catts,” thereby defying what was later to be the orthodox spelling of the first word that every child learned to spell in the elementary spelling book. ‘What would the judge of the spelling contest have done to Senator Fess or Senator Allen if either of them had spelled that word as “catt”—and had cited George Washington as an au- thority? Andrew Jackson suffered no criticism for writing after his decisive battle in the War of 1812: “I will hold New Orleans in spite of Urop and all hell,” and his spelling was as well understood at a time when latitude in spelling was practiced and expected, as ‘Europe™ would have been. Theodore Roosevelt, when his attention was called to this sentence from Andrew Jackson, said: “If ‘Urop’ does not spell ‘Europe,’ what does it spell?” Roosevelt’s Reforms. An attempt that President Roosevelt made to hasten the process of stand- ardized spelling got him into as much hot water as anything he ever did. Nearly 24 years ago, on August 27, 1906, Roosevelt wrote an order to the public printer, inclosing a list of 300 words and directing the printer that he should spell them as they were spelled in Roosevelt’s list. Nearly all that Roosevelt attempted was merely to say, as respect certain words, that one out of two current spellings should be regarded as correct. For example, some of the words for which there were at that time two cor ticed spellings were “Ial “labor,” “honour” and “hon and “ax,” “good-bye” and -by,” “programme” and “program,* “centre” and “center,” “theatre” and “theater.” As to each of these and as to the remainder of 300 words, Roosevelt de- creed that the shorter or simpler form should be the standard one and that i‘x’:mllr.lc documents should be printed Promptly Roosevelt found himself in- volved in a fight in which the odds were more against him than in any other of the many controversies he had. ‘The opposition was international, for England broke out against this notion of setting up the “President’s Amer- ican” as a usurper of the “King's Eng- lish.” The British press, said a Lon- ! Josh Billings, Artemus Ward, Petroleum (Continued on Fourth Page) BRUSSELS.—A similar era of specu- lation following the fabulous prosperity of the post-war years, with its accom- panying stock crash, which recently was witnessed in the United States, took place in Germany shortly after the war in 1870-71. Henri Charriaut, former commercial attache at the French embassy at Brussels, describes in Le Soir the events following Germany's triumph over France and tells how the news of the huge indemnity fixed by Bismarck was recelved. He writes as follows: “As soon as people in Germany learned that France was to pay 5,000,- 000,000 francs there was something like an explosion of triumphant joy. There was not a single German who did not think he was going to get his share of the money. People thought this enor- mous ransom would be thrown into In- dustry and commerce and that it would make business ever so much easier throughout the country. “All Germany then came under the grip of a speculation fever. People speculated everywhere—in stocks, bonds, real estate, buildings. It was like a de- lirfum. From July, 1871, to July, 1872, 42 new banks and 164 new industrial | enterprises were organized. A great many of these enterprises were based on_speculation. “Speculation developed considerably and went to any excess. People did not bother any more about gradual, slow profits at the stock exchange. They dreamed only of sudden and gnormous profits. Interest did not count any more. Plus values and quick profits alone counted. “People did not buy shares to keep them, but to sell them quickly, with as much profit as possible. Those who would have judged the wealth of Ger- many in those days by the stock ex- change quotations would have thought it was the richest country in the world. “But one day mple found out that the 5,000,000,000 francs, which in those days seemed too much for people's imagination, would not be given in part either to decrease the debts of the na- tion, nor to decrease taxes, nor to en- courage commerce and industry. Not a single cent was used by the government to increase the well being of the popu- lation. All was spent for arinaments. It was a negative profit. “The disillusion was ‘eonsiderable. ‘Stock Crash Affecting All Europe Followed German Victory of *71 ‘We all thought,’ exclaimed Herr Sie- mens, a Deputy in the Reichstag, ‘that the five billions which one state paid to another state would be paid by one people to another people, and we are astonished that not each one of us gets a share of the money.’ “The stock exchange grew more and more feverish. All efforts to prevent a disastrous crash were in vain. There was a slump, and a still graver slump | followed. The fear of the public brought about a panic. “In Berlin, Hamburg, Frankfort and Vienna the crisis was so considerable that many bankruptcies followed. The stablest financial enterprises of Vienna and of entire Austria were shaken and shares of the Austrian Credit Thek fell 100 per cent. “Upon the great boom period after the Franco-Prussian war there fell, in 1873, one of the heaviest panics ever registered in Europe's history. Every day new bankruptcies were recorded in Germany and Austria, and for a long time the money market felt the wounds and scars of that panic. “The German word for financial catas- trophe, or crisis, is ‘krach,’ and since that ‘krach’ of 1873 this word became a household expression even in France and throughout Europe.” “Jug and Bottle’ Party Costumes Extraordinary Cavalry officers dressed as fairies, and titled women in trousers were among the guests at an extraordinary “jug and bottle” party which from shortly before midnight continued into the wee smha’ hours in Chelsea, under the auspices of the Bright Young People of London. A crowd watched the arrival of the guests in their weird costumes, and ) view of the complaints at recent Bright ‘Young People’s parties, kept an eye on the building. Half the men turned up dressed as women and half the girls as men. Music was provided by a band of street musicians who had been collected from theater queues and street corners by the hostesses, and hot dogs formed the principal item on the menu for ple whose family tree was at least 00 years old and their bank balance always more than five figures.