Evening Star Newspaper, September 17, 1931, Page 28

12 * ARTIFICIAL TRADE MEASURES SCORED| Recovery Depends on Law ofl Supply and Demand, Says Stock Exchange Head.- By the Associated Press. NEW YORK, September l'l.—At-l tempts to tinker with the ancient law of supply and demand by injecting artificial measures to stimulate or de- its normal operation may well Ennhen the business slump and retard recovery, sald Richard Whitney, presi- dent of the New York Stock Exchange, in an address to the New York Merchants’ #ssoclation today. “Before the flood-tide of prosperity can retun,” he said, “invisible under- currents and the pull of unseen economic forces must exhaust themselves. These forces respond to laws vital to human control. If in our vanity we cannot or will not learn this lesson, if we still insist upon attempting to oppose futile obstacles to the inevitable course of events and to swim against their mighty currents, our folly will be upon our own heads. “It remains for us to heed the prin- eiple of supply and demand, to govern our actions in accordance with its dictates, and thereby hasten the return of a prosperity based upon the sound and lasting foundation of natural law.” Mr. Whitney made no attempt to predict when the return would come, ' although he did say that from the perspective of 1940 “the extreme op- timism of 1929 and the unmitigated gloom of 1930 and 1931 will appear equllly exaggerated and ridiculous.” “Weak and uncertain counsel” from business leaders have not helped the present predicament, in Mr. Whitney's opinion. “There have been too many lulve statements that reassure nobody, many empty platitudes, too great a luk of frankness and realism, too much of an attitude of trying to whistle in the graveyard at raidnight. On the other hand, the ocasion has called forth the usual crop of calamity-howlers, alarm- :l?n and irresponsible puhudty-mmcm T raveling 35 Fully guaranteed dium dial imported clock in genuine leather case. 'Des‘sing Case . $5 Normally $7.50 ' * '’ Men's cowhide leather dressing case, equipped with washable lining and 8 useful fittings. Leather Wallet $.95 Noimally $5 Men's two-fold wallets in seal and ostrich. 14 kt. gold corners. KRS | 1314 F St. N.W. ra- r—- ICites Slump Cure EY. ! RICHARD WET got out of adjustment during and after the World War, through an_ artificial fixation and control of prices, Whitney said the Nation was stili pny- ing the penalty for such policies and had not yet learned the true economic lessons of its war experience. *The ptice of success is bound to be %u—mm "é 0 s e e G Ta. o EVIGaNG © STAR, WASHI GTON, D. €., THURSDAY, SEPTEMBER 17, 1931. obedience to th?d law “rt t/:u[;gl: ::sl demand,” he sai “Wasf £hould be eliminated, by-products fully | utflized, ' invention stimulated and bet- ter products perfected. Hard work and constructive thought, rather than idle lamentations or the pursuit of futile| panaceas, must be the order of the day. 'All such efforts are in funda- mental harmony with the law of supply and demand. = They constitute the methods by which America has stc- cescfully mct the challenge of depres- | | gien many times before, and can meet it again.” Ascerting that all must share in the readjustment, Mr. ‘Whitney said there should be “no Iavored classes or privi- leged industries.” “The retailer cannot hope to main- tain his own price when the prices at which he can purchase have huen‘ ‘Wages must justify themselves on the | basis of production and performance. | Sentative Joseph W. Byrns of Tennesses, sentative B Attempts to help one industry at the expense of others, or one section of the country at the expense of other! sections, must be avoided. “We cannot hope to re-establish any sound or lasting prosperity if we create | in American business life a set of Robin Hoods to sical from one class in order to give free alms to another.” Violinist Given Medal. CHICAGO, Sept:mber 17 (#).—Milan { Lusk, the violinist, today was the pos- sessor of tag Revolutionary Medal of ‘t.h- Czechoslovakian republic in recog- nition of his services during the World r. | War. It was prescnted to him yesterday by Dr. Jarbslav Smetanka, Cazscho- | slovakian consul general in Chicago. During the war Lusk gave more than 50 concerts in behalf of families of the Czechoslovakian Legionnaires. 9¢ TIRE - DEPT. announces Sharp Reductions On a New, Fresh Stock of KELLY Lotta-Miles -Heavy Duty 6-Ply Tires LBuy a FRESH Tire! I It Costs Less to Buy in Pairs! PRICES? ~—Less than mail order, second line or inferior tires. QUALITY? —Lotta-Miles is a real KELLY Tire, outstanding for 36 years. MOUNTING? —Free mounting in Kann's service garage. TERMS? —Buy on our liberal budget plan, or use your charge ac- count. now....$7.55 now....$7.75 , now....$8.50 now. ...$9.20 , now. ...$9.40 now....$9.85 All Other Sizes Als’) Reduced _ Brings Many Uriltis 4-gallon Waffle Iron Manning & Bowman Chrome plated and has heat indicator. Bakes 4 full size waffles. $9.75 Vollrath White Enamelware Finest - grade Double : Boller, quart size; regu- llfl}' $2.05— $1.19 Saucepans (let 3),81.00 The Dulin & Martin September Sale of Housewares Step-on Pantry Pails Latest type with the new spring- hinged cover in a wide range of colors. Sannette Waxed Bags, now, doz., 10c - DULIN @ MARTIN Connecticut Ave. ana 1 That Are Exccptional Sannette size. SPECIAL, $|.85 21;-gallon size, 95¢ High - grade heavy cast iron. Choice of 7, 8 or 9 inch size— 65c — | Democrat on the House Appropriations Committee, and probably wou!f become its chairman if his party should or- ganize the next House. Representative Byrns Claims Wealthy Failing to Pay | tex Fair Portion. R By the Associated Press. Democratic House leader, Repre-| general th= plan outlined by Repre- |long-term notes was unwise, and added stx‘:mlv;ndoseph W. Byrns of Tennessee, | sentative Bacharach, Republican of | that be opposed meeting the ceficit by. Men, These 3,000 Shirts Will Cause a Sensatwn today said he Tavored legislation in the next Congress to make those in the higher income tax brackets “pdy their Just porportion of the Nation's taxes.” Representative Byrns is the ranking | New Jersey, under which those with |even short-term notes if a revision in incomes of more than $100,000 a year her would have thelr taxes raised. Byrns the Treasury deficit. said, however, that he saw no reason ta; One way to meet the dnwc Brm sgsmpt those with an income of $10,- | said, wes to & year. ive sa an- He said it was “economically unsound | nounced by Prestdenmom mmmm snd politically immoral" {o pass on the |in the right direction, but that icurred by e extravagance amount this generation to future generations, | W soparenly wouid do very e He ld‘d‘e: that he favored & balanced He said he opposed the plan put budge! e care of current operating h;mard byl Senator Resd, Republican, ) expenses, mb%fx ufi;;: o o; ;!rlgflt:embt of Penns; eral sales nd roa s VIR, . e might well be passed on to the future “Why should we levy on the neces- | Since generations then would inherit sitles of [l‘fle that the average man nng some of the benefits. woman have to buy, when those wit i huge incomes are no, paying what they | Wit Eange T o, should in taxes?” he asked. | Byrns said he thought the recent is- | The Tennesseean said he favored in |sue by the Treasury of $1,600,000,000 in Opposes Sales Tax. mcst reckless and extravagant I ever saw,” he sald, “but even so we were about $40,000,000 under the budget put {;n';:qu with President. Hoover's ap- o e Because of the reduction in contract shipbullding in England the office of director of warship production has been discontinued. ——— ROBBERS GET $1,500 Knock Cashier of Bay, Mo., Bank Unconscious and 'Escape. BAY, Mo., September 17 (F).—Four robbers yesterday held up the State Bank of Bay, a village in Gasconade “The last Congress was one of the | County, and escaped with $1,2:0 in cash and about $300 in bonds after knocking Cashier Walter Marsch unconscious, ‘The Tobbers escaped in an awaiting automobile. The holdup was staged about 11:15 am. Two of the robbers entered the bank while one remained at the door and another in the car. The cashier was alone at the time. He regained con- sciousness shortly after the men fled and was not seriously injured. / L 2 Why Not? They’re Our Famous No. 2000—Made of Fine Count White Broadcloth. Last Year We Sold Thousands of Them at $1.65. For Two Days, Starting To- morrow, You Choose from neckband or collar attached. In sizes 13Y, to 18; sleeves 33, 34 and 35. Pay Only | A marvelous opportunity—a real champion—far and away ahead of any shirt value that we've seen or heard of recently. Goodness knows there have been plenty dollar shirt sales—but not like this one. We can offer this lot at a dollar only because of the unusual condition of thecotton market plus a big price concession from the maker. Mind you—here’s the same fine broadcloth, the same e).cellent tailor- ing, the same careful details that just a year ago you paid $1.65 for—but there are only 3,000 of them. Better hurry! MEN'S WEAR SHOP—STREET FLOOR. Mail and Phone Orders Promptly Executed NAtional 9800 ANSBURGH’ 7th, 8th and E Sts.—NAtional 9800