Evening Star Newspaper, May 6, 1931, Page 5

DEBT FLARE SEEN ATC. OF G. SESSION British Expected to Ask Re- assessing of Nations’ Capacity to Pay. A flare-up is foreseen on the inter- national debt question before this ses- sion of the International Chambers of Commerce adjourns Saturday night Unless present plans change, it will come in the form of a resolution by the British delegation demanding 2n expert | ‘commission- to reassess the capacity of | debtor natfons to pay cn a basis of commodity values. The Russian ques- tion is to be submerged in favor of this drive manifestly intended to influence American public opinion on the debt | question, the leverage used being the | present world economic depressiorn. | Incidentally, the British delegation does not stand alone behind this reso. lution. It has been the subje f fre- quent private conversations bef delegations of France, Ttaly and Ger- many. France and Italy are behind it and the Germans, remembering Amer- ican differentiation between reparations and debts, may be said to be neutral. American “Hands Off. In the meantime, the Americans are doing nothing \\'hulg\:‘;;" w0 infis o \‘l’:‘l: rel delegations. e reason s s ur‘\gdr;-nfl"g policy may be briefly ted as follows: lu’rhe foreign _delegations attending the meeting of the International Cham- | ber of Commerce do not speak the | Rockefeller THE EVENING and Escort OIL KING THANKS OFFICER FOR CARE. John D. Rockefeller, sr., was cau STAR, WASHINGTON IRREGULAR WAGES HELD WEAKEST LINK Chamber Speaker Points to Adequate Pay as De- pression Cure. (Continued From First Page) poliey. 'This, he termed a “very grave problem and one which might upset the economic structure.” The tendency in Germany mnow is| toward lower wages and a decreased cost of living, he said. Meyer said that German industry, forced to meochanization, has increised the number of unemp'oyed until today “these constitute an enormous burden | upon the country.” | “sir Arthur Salter later said: “It is Iflearl_v vital to the alleviation of this | depressing. as for every other reason, | that the world should regain and retain | confidence in the maintenance of peace. | And for this the practical co-operation | of all the main forces making for peace in every great country and in whatever form, whether through and in the League, or by common and sufficiently co-ordinated purpose uniting those within and without it, is essential.” Discusses Gold Problem, Going into the “controversial problem ght by the photographer as he was Janguage of their own governments On | thanking Leslie Smith, policeman, for protection given him to and from church. At least, up to this time no foreign government has offi- clally talked to this Government about the necessity of debt canceliations, re- ductions, or moratoriums, or further investigations of capacity to pay. On the contrary, Philip Snowden, chan- cellor of the Exchequer of Great Brit- ain, has publicly and repeatedly sai that Great Britaln will never ask | change in its debt-paying policy to this | Government. Since the delegates have | fafled to convince their own govern- ments, the question is being asked here just what practical value the conferees expect to attain by agitation on & new line at this time. Of course, the answer is that the Chamber of Commerce meeting in Rome in 1923 set in motion a plan for the appointment of debt experts, which finally culminated in the Dawes Com mission. It must be remembered, how. ever, that Secretary of States Charle: . Hughes had previously suggested | this method of approach to the vexing question of reparations rather than| debts .and that the minds of all gov- ernments at that time were nearly as one on this subject. Question of Moratorium. Under the existing debt agreement | with Great Britain, that government can at any time intimate to the United States the necessity of a moratorium for reasons which must of necessity be per- suasive. Those reasons would, with | equal necessity, be translated to the | American people so that they might understand the actions of their own Government. With respect to cancellation of Euro- pean debts to the United States at this time, the follownig would be the logical outcome: Under the terms of the Balfour note, Great Britain is collecting from Europe today $160.000,000. spnually, which it pays to the Unite tates on its own debt. Great Britain is pledged to re-| turn this money to Europe if its debt to the United States is ever canceled. Under the terms of the reparations | . 40 per cent of this amount | y, and the bulk of ce to France and Italy. No| nation in Europe is bound to cancel | any more of Germany's reparation pay- ments than 40 per cent, while the | United States is asked to remit the pay- | ment of 100 per cent of Europe's debt | to it. the debt question. One Proper Approach. Under this set-up, therefr _, the| question_readily arises, who would be | paying Germany's debts? The only proper approach to a debt | cancellation arrangement, according to | the view held in many quarters in this | country, would be 100 per cent cancel- | lation all arcund. Nobody has ever made such a suggsstion and probably never will, for the simple reason that Genfimy would then pay no reparations at all. While the British have not yet made Picture was taken in Lakewcod, N. J. INTERNATIONAL GROU —A. P. Photo. P SHELVES FIGHT ON RUSSIAN RELATIONS $3,000,000,000 Soviet Order for GOOdS IS‘ Predicted by Cooper—Silver Issue Basis for Britain's India Policy Attack. ‘The question of relations with Rus- |respects is the urgent need of mankind sia, which, because of its contr oversial | today.” Dr. Hamm said the war, its conse- lement was expected to furnish one guences and the tendency of isolation of the contentious points of the Con- | “have impeded the natural development ¢! of commercial intercourse. | gress of the International Chamber o Commerce, appears to have been | shelved. | It was due up yesterday afternoon | at one of the group sessions, but lost | out when other matters occupled the | time of the delegates until after 4 o'clock, 'when adjournment was taken that the visitors might attend a re- ception at the home of Secretary of | State Stimson. The understanding was | that it was to be brought up again if | time could be found, but. it was held g:fl;,iegly doubtful if such time would | ad. The question was not entirely passed | up however, as & monograph prepared | for presentation to the congress by Hugh L. Cooper, president of the Amer- ican-Russian Chamber of Commerce, stressing the importance of the Rus- sian market was disturbed to the dele- gates when no opportunity was afford- ed to present it from the floor. $3,000,000,000 Order Likely. “Therefore,” he said, “in the first place capital has to be fed into those channels where the purchasing power is Jowest, and in the second place the creditors must be prepared to accept either goods or services in return for these loans.” The session also heard a plea from Marcel Le Bourgeols, vice president of the Chamber of Commerce of Rouen, | France, that America and Europe not consider themselves as trade rivals, but rather, should collaborate and co- operate in the present world crisis. DOAK MORE HOPEFUL ABOUT EMPLOYMENT Labor Workers to Pursue Normal Prediction that Russia would buy at | least $3.000,000,000 worth of goods a ! year “if the outside world will consider this trade opportunity on sound eco- nomie prineiples” was made by Cooper. He said the Russian market involved “potential purchasing power that can provide the much-needed stimulus to world trade.” | Copper suggested a comprehensive eco- nomic study of the Sovict market by | business, industrial and financial leaders of all countries normally dealing with that country. | Such a study, he said, could be used as a basis for a conference with Russia | “for the formulation of international | agreements looking to a mutually ad- | vantageous world trade program.” Proof that Soviet officials would welcome such a conference was abundant, he said. Silver Tssue Discussed. | Another issue—silver—on which there | is difference of opinion, came up before | this same group session, and brought | from representatives of China and India, Buying Unafraid. Secretary of Labor Doak expressed confidence last night that the number of regularly employed workers will in- creas> month by month, as the re- sumption of normal buying by the em- ployed. which he urged, comes about. “It is tmmaterial,” the Secretary sald in a radio address, “whether we ascribe existing conditions to overdevelopment | or underconsumption, but it is essen- tial that the vast majority of our peo- Becretary Urges Gainful| of gold,"” Sir Arthur said that as the expert committee appointed by the | 1eague of Nations has recently shown, there are reasons to fear that the pro- duction of gold may becme inadequate to meet the needs of increasing popu- lation and expanding trade. Tt does| not assert, however, he said, that the | total amount of gold now in the world, if it could be used to best advantage, is inadequate t> support prices at their precent level or even to have maintaine¢ them at a somewhat higher level. Central banks cannot control the whole situation, he said. “If the in- vestor fears disturbances to the peace of the world and is not willing to in- vest abroad no bank can compel him, and if new and increased tariffs stop | any increase in imports which equi- | librium may require, central banks are | equally helpless.” | sir Arthur added in this respect that he saw the great~st risk of a new era of competitive toriffs. Finally, he said, the League units the efforts of practi- cally every country of discoverin~ causes and so far as possibls alleviating and curine economie troubles. “The politi- cal difficulties which in some cases pre- vent acceptance of the covenant's politi- cal engagements happilv do not prevent | co-operation within this sphere.” by which he apparently referred to the op- portunity for American co-operation. Peace to Bring Demand. Sempell, who talked on production, and discusced overproduction. to which many speakers have ascribed economic flls, said: “I am convinced that when | real neace and confidence have been sgtablished among all nations of the | world, the present capacity of all indus- trial ecuntries will not_be sufficient to | satisty the demand. When this tim» | has come. the American penple will be greatly remembered as a leading ex- ampls of efficiency.” Sempell said in reference to the Ger- man_ industrialization program that “it must be admitted that an error was committed in Germany when it was as- sumed that exportation would be ac- cepted willlingly for the sake of accom- plishing these payments,” referring to D. C. WEDNESDAY. “Bottled” Brunette Fails to Soothe Man ‘Who Hated Blondes By the Associated Press. CHICAGO, May 6.—All gentle- men do nst prefer blondes. Franklin Adkins is one of those gentlemen, his wife charged in a bill for divorce on file in Supe- rior Court today. She alleged Adkins didn't notice she was a blonde until the day they were married and complained so b'f- terly about it that she went to a hair-dyer and had herself changed ir‘o a_brunette. It won't d she quoted h'm as saying. “You are not the genuine article. You are stiil a blonde at heart. Once a blonde, always wrorg.” Two months later they sepa- rated. FUTURES TRADING 'SAGE DEFENDED International Commerce Body Hears Report Against Re- strictive Legislation. Opening a drive on restrictive legisla- tlon against futures trading pending in this and other countries, traders in commodity futures from many countries yesterday presented a resolution in de- fense ‘of the practice to the Interna- tional Chamber of Commerce. The resolution, drawn by the com- mittee on trading in futures after a year's study. to which grain, cotton and other exchanges contributed, made a point of the function of the speculator. which, it said, “is to carry the risks of price fluctuation which are inherent at every stage in the production, manufac- ture and distribution of a product.” “The chief service rendered by trad- ing in futures to industry and trade is undoubtedly this facility for the trans- fer of risks,” it continued. “When speculation is restricted or vented from performing its true func- tions. In fact, futures trading cannot exist without speculation. The wider and more frequent the degree of spec- ulation, the more efficlent are the services rendered by a futures market.” The commission, h=aced by Sir Josiah Stamp, celebrated British economist, was asked by the Bennett government to determine “what effect, if any, fu- tures trading has on prices received by the producer. Its report was to de- termine parliamentary measures to pro- hibit entirely, merely restrict or leave | unmolested the practice in Canada. The member of the commission ap- pointed by the grain trade was reported at Winnipeg to have said that the ex- i change has “nothing to fear” from the | forthcoming report. A. E. Darby, secretary of the Win- nipeg Grain Exchange, said the short seller eventually must buy and “merely acts as & cushion for falling prices.” Speculation and hedging,” he added, is 50 interwoven as to be indistinguish- able and together they smoothe out the fluctuations in world prices, although in doing so they may occasion temporary | ripples on the wave of price trends.” reparations. Desert Travelers. For traversing across a desert land it was thought that the carel could never be displaced, but Tecent vears the United States has sent many thou- |sand dollars’ worth of automobiles into Africa, where, with some little adapta- tion, the machines have been found to be superior to the camel. Roads have bren improved or newly built and the | machine has been found to be much | fying increate in the number of regu- | larly employed workers. ple, those whose incomes are unim- |faster and just as tractable as the ani- paired, should pursue their normal liv- | mals. What is more important is that ing and not be frightened into hoard- | automobiles carry a greater load. The ing. | camel refuses to move 1if overloaded, “Great buflding and highway con- but the motor car crakes no protests. struction projects are under way, and | with each succeeding month I ieel more | L) and more assured we shall see a grati- Hair and Scalpl For they, in turn, become purchasers, and thus make for further employment.” | CLUB NAME CHANGED prohibited, a futures market is pre-| MAY 6 ORATORY THETS READYFOR PBLL !National Finals Seating Ar- | rangements May 23, Same as Last Year. Tickets for the national finals In the National Oratorical Contest, to be held in Constitution Hall on the evening of May 23, are now rezdy for distribut on, | according to an announcement today by Randolph Leigh, director g=neral of the contest. | 'The seating arrangements are prac- teally the same as those for la:t year, except as regards the teachers' section. which will be more compact than heretofore. Al tickets, except those for box seats, are on a “first-rome- first-served” basic. The doors to the | auditorium will open at 17:15 o'clock Tickets will be good for admission until 7:45 o'clock, at which time the gath- ering will be put in order for the opening of the meeting a few minutes thereafter. Ticket Holders Too Late. Attention is called by the director general to the fact that at the last meeting a few dozen people, who ar- rived after the period for the validity of the tickets had expired, were un- | able to gain admission to the building | because the unclaimed seats had been | taken, as is customary at the contests. by persons who had been unable to secure tickets, but had gone to the auditorium to take advantage of just such an opportunity due to the tardi- ness of some ticket holders. 1t is pointed out that the nature of the meeting compels the manage- ment t> have the audience seated and quiet_at the very outset. Otherwise the first speaker is placed under a serious and unnecessary handicap be- cause of the confusion caused by hun- | dreds of people making a last-minute dash for their seats. Applications for tickets should be ad- | dressed to the headquarters of the con- | test, 404 Star Building. To avoid mis- | takes, applicants should send self-ad- | dressed envelopes. Requests by tele- | phone cannot be provided for. ~Appli- | cants are limited to two tickets. Every | effort will be made, as in the past, ade- | quately to provide for the requests of local applicants. It is pointed out, how- chaperones and_delegations coming in with the six speakers, who, in addition | to the speaker from this zone, will com- ever, that a certain number of tickets | have to be put aside to take care of the | Hawaiian Orator THOMAS C. COMPTON. CHARITY GROUPS PLAN SEMI-ANNUAL PARLEY | District, Maryland and Virginia Bodies to Hear Social Work Problems. ‘The semi-annual conference of the | Associated Charities with _execut and supervisors of family welfare orgin- izaticns in Maryland and Virginia, will be held tomorrow. The conference, known 2s the Infer-City Conference. was organized in 1927, | Problems and prczrams in the family social work field will be discussed. The | session will open in the morning with a general discussion of “What Ognati- | tutes a Good or Competent Family | Soclety”? The discussion will be opened | by Walter §. Ufford, general secretary | of the District of Columbia Soclety. | Other speakers will include Miss Mary | E. Lucas, field representative of the | Family Welfare Association of America, | and Miss Anna D. Ward, secretary of the Mitimore Family Welfare Society. Mis® Louise O. Beall, assistant sec-| retary of the Associated Charities 3 is chalrman of the conference. AIMEE’S MOTHER ILL pete for the silver loving cup, symbolical | |of the national championship. Hawalian Orator to Arrive. | One of the most interesting events connected with the ssven zone meetings | which will determine the seven speakers | |to compete in the national finals will |be the landing tomorrow in Los An- geles of the champlon of the Hawalian | Islands, Thomas Compton. Compton, | who is 'a 17-year-old senior in Leilehua High School, is reaching Los Angeles a | week in advance of the zone meeting |there in order to rest from his long | ceean voyage before making his bid for national recognition. He was the only haole (white) con- testant to reach the territorial finals |and competed against a Filipino, a Portuguese and_three Japanese (all LOS ANGELES, May 6 (#).—While Angelus Temple workers were busy to- day preparing to welcome Aimee Semple McPherson home about May 16 from her world cruise, Mrs. Minnie Ken- nedy, the evangelist's mother, lay il in a small house nearby. | I'm tired, so tired,” she said, but would not admit her illness was serious. | She has been unable to leave her be: | for_a_week | Honolulu Star-Bulletin, sponsor of the ! contest in Hawali, is by far the ablect | speaker produced in that division dur- ing the four years that it has been 2 part of the national contest. Compton intends to enter West Point. The zone meetings which will deter- 2,000 persons and, according citizens of the United States) for the /mine the seven national finalists wiil privilege of speaking for the islands in be held in Washington May 8: Los An- the Pacific zone finals. geles, New York, Springfield, Mass: | Compton spoke before an audience of Birminghem and Chicago on May 15 to the and in Kansas City on May 16. MORE INSPECTORS PLEA OF D.C.BUILDERS Secretery Johnson of Exchange Blames Lack of Avpropriations for Conditions. building in: ¥ other large cities, Ross H. John- of the Builders & Manu- e, cald today. ame time, Mr. Johnson noinicd out the number of inspectors employed b tha District is limited by pp: t Congress. He T ience” in the abil- building inspection nunicipal architect's nesr commissioner. said the Builders & | ' Exchange had taken no ng the recent two District ot on ojects BELIEVE BO; SET BLAZE Poli~e are secking a colored boy be- have set a blaze in a vacant dwelling at 1241 Ninth street which vest afternoon caused $500 damage fore it could be put out. The flames . aught in the rocf of a house next door, owned by Albert Rosebud. but were - extinguisiied before they gained much headway. When firemen arrived they found the firs had been cet in closets on the . second and third floors. Police were told that a small colored boy had been . seen playing in the building & few hours earlier Enna Jettick Melodies Sundays, WIZ NO LONGER BE TOLD " THAT YOU HAVE AN EXPENSIVE 177 Sizes and Widths The Correct Fit of ENNA JETTICKS assures real comfort for the warm days ehead Beautiful Hosiery, $1.00 Exclusively ENNA JETTICK 1337 * St. NW. an open argument in favor of their Sits de tentative resolution to reissess the ca- fim,f".‘"‘,,fi‘;‘:'tm‘;‘fih:“:fi':,fim",.‘ il acity of debtor nations to pay on the an International Conference to consider Basis. of commodity values, 1t must. be obvious even to the layman, that this is such a flexible basis as to be almost, it not entirely, unworkable in practice, | How would such a plan have worked during the lagt two years, when com- medity values dropped to the lowest point in recent economic history and how could such a plan be made to work when those commodity values again re- turn to normaliiy? 8o far as govern- ment budgets and government financing are concerned, no government could know from year to year what it could expect from such a flexible machine. In all probsbility the proposed in- vestigating committee would have trouble in making a report that would b in keeping with the facts when con- sidered. | TEACHERS DELAY PARLEY | DUE TO FOOT BALL CROWD | Charleston Unable to Care for Visi- tors to Game and Conference, S0 One Is Postponed. Bpecial Dispatch to The Star. MARTINSBURG, W. Va., May 6— ! Because of strenuous opposition by echool officlals in Charleston, the an- | nual meeting of the State Education Assoctation, in Charleston, has been de- lay from October 15-17 to October | 29-3, L. W. Burns, this city, president, sald today. Action was taken by the Executiv Committee at a meeting in Charleston lagt week The Charleston school group represented that it would be im- possible to take care of the attendance on the original dates because of the crowd there for the annual Washing- ton and Lee West Virginia University foot ball game on cne day . ‘Thomas Atkinson recently found two fully charged bombs in his cellar in London. B 1233221880080 0008882288] Get Our Low Prices on All Plumbing Fixtures | upstream, remedial measures. ‘The resolution for the conference was introduced by the Chinese delegation and seconded by 8. R. Bomaniji, an as- sociate of Mahatma Gandhi. who in a sharp attack on British policies in India sald no relief could be expected from the mother country. Bomanji told the assembly, which in- taxing her silver and by reducing the exchange value of the Indian rupee The session was further enlivened by a proposal from Dr. H. W. Coates, Brit- ish financial expert, to establish a gold standard in China instead of attempting to stablize the price of silver, which he eaid was impossible. | Presents Silver Resolution. Tsuyes Pei, manager of the Bank of China, presented the resolution for the international conference. | Saying the low price of silver is one | of the important causes of the world depression, Pel promised full co-opera- | tion from China in an international | effort to stabllize the price of the metal, | and warned that if joint action is not alone. { Discussing recommendations for plac- | ing China on the gold #tandard and for | putting a duty on importations of silver | into China, he said either would harm | the silver market It China changed from the silver to | the gold standard, he warned, it would | not only place an extra burden on the | world's short supply of gold, but would | provide a problem In disposing of the ’hnhtomlnz, China will have to act | demonetized silver. Reparations Discussed. | Reparations came in for brief atten- | tion at this group session when Dr. Edward Hamw. former German minis- ter of ecomomics, said creditor nations | must be prepared to accept goods or ces in return for loans. | Chis applies to reparations as well | |as to the commercial situation in gen- | | eral,” he ded. “The streams of capital and goods must be met on an equal You cannot expect water to flow | Co-operation in these two th Room Outfit, *52° Save Money Now on This Beautiful New 3-Piece Set 3—Branches—3 MAIN OFFICE- I5™& H Sts. N.E. DOWNTOWN-6™ & ts. S.W. BRIGHTWOOD-5925Gs” NW Washington Title. The name of the History Club of Western High School will be changed to the Georgs Washington Junior His- tory Club as a_step preliminary to participation in the George Washing- | it WM’ ton Bicentennial Celebration, anncunced today. The organization will conduct a spe- | cial study course on the character and achievements of Washington. The club members already have visited Mount Vernon. They will take similar trips to Wakefield and Bridges Creek, Va., 800n as a part of their course. Lucile Bawker has been elected pres. ident of the Western High organiza tion. Other officers are Theodore Sta- ples, vice president; George Barber, | secretary, and Eleanor Davidson, treas- urer. | Linger’s Bedding Spuidists Displaying the Standard Makes of Beds, Springs and Mattresses 925 G St. N.W. | National 4711 | Mattres: | 1945 s Remade Like “Sterling” on Silver * Everfresh on « EVERFRESH not only a wonde ous Diuretic. The healthy, vig is your Guarantee of strength and purity You'll find the three letters— U. 8. P.—on the label of ery bottle of EVERFRESH Genuine Citrate of Magnesi It's the government's infalli- ble method of telling you that it contains the proper propor- tion of magnesium oxide nec- essary to obtain thorough therapeutic action. EVERFRESH goes further for your benefit. 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