Evening Star Newspaper, October 1, 1931, Page 28

B—12 4l EDUCATION: EDUCATIONAL. “A CCOUNTANCY Pace Courses; B. C. S. and M. C. 8. Dune.éhyr and Classes; A. mtlm. Coveduufloml Send for 25th Year Book Benjamin kalln Umvem!y 803 Transportation Blds.____ DRAMATIC ART Acting, Plnmmlme ‘Make-up cting, etc. THE A T ER ARTS Stage Stage Costume mlcn‘sh,g:&k l‘l‘l‘.flnx ete. KING-SMITH STUDIOS 1751 New Harngshh’e Ave, North 10385 1081 Tuition Free—Annual Entrance Reopening October 5, ure Prospectus ‘and Purther Intormation "'&.. "Milks Asnes Mayo. Secretary. Art—Advertising Interior Decoration Costume Design—Life Class Children’s Saturday Class ACADEMY— 1333 ¥ St. NW. ME. 2883 M, ' Sound, sincere, practical commercialart trainingin all its phases. _Individ: instruction and guidance TEMERIIAL vy« nationally known m artist. Constructive criti- Cism. no fattery of stu denty work; No gxtrava: o i S Cordially int Distriet 2480 {08100, a0y week dav. No More Applicants For Civil Service Accepted After Friday, Oct. 2 Due to limited time before Civil Service examinations for typists and stenographers, the Mount Pleasant School for Secretaries will not accept any more appli- cants for instruction after Fri- day evening, Oct. 2. MOWT PREASANT SCHOL for ScoRrTvAREs Tivoli Theater Building 3813 14 St. N.W., Col. 3000 CIVIL SERVICE Prepare for stenographer and typewriting , exam._ departmental and fleld service. Sal- % ary. 31360 to 31.620 35, En- The ' Civil Service Preparatory 13th & F sts. ) roll now. School, se._cor. KING-SMITH STUDIO-SCHOOL . announce a SPECIAL CHILDREN'S COURSE in MUSIC, DANCING, DRAMATIC ART Artistic development of the child through perfect co-ordination of the three subjects. DUPONT CIRCLE SCHOOL FOR CHILDREN Seoaste, CIVIL SERVICE ire for nenoiunher l'ld 'Ylflnl l’go‘ n!n:t cor. 12th & F sts. Met. 6337, DANCING In All Its Forms Classic and Modern, at KING-SMITH STUDIOS 1751 New Hampshire Ave. North 10385 MOUNT PLEASANT SOHOOL Sfor SecpnianIes Tivoli Theater Buildin, 3313 14th St. N.W,, Col. Crape Myrtle, $1 MARYLAND NURSERY (East Hyattsville) Hyat 3 Burchell’s Bouquet Coffee Exceptionally Fine 25cItb. N. W. Burchell 817-819 Fourteenth St. ous LowPriced | RUES ali dnm wit 3 & “ ah, Two-Tone or Hooked pat- mganilul of colors in old materials. lorious Oriental colorings, soft, deep pile tcxtuu. Allmz: ‘woven seamless, feversi- ble for double wear, any size in a week. The valuable wool i8'reclaimed by Palented Process, bleached, redyed ewoven. Phone or write fof big FREE "Catelogue in colors. Representative with samples sent onrequest in city and suburbs. Free pick- up service. All rugs on display at 1751 New Hampshire Ave. Telephone North 10385 p ’“‘ m“.’."’. Tlle Temple School, fnc. Meets Individual Requirements in Business and Secretarial Training Classes Now Forming Day—Late Afternoon—Evening Beginners’ English Class, 6:15 P.M. Gregg Review Class, October 5, 7:45 P.M. Review Class, Pittman Shorthand, September 30, 6 P.M, 1420 K St.—Nat. 32: SvRERRA R e Evening Sessions 5:00 to 7:30 or 7:00 to 9:30 Beginning and Advanced Classes Now Forming in Income Tax Mathematics Shorthand ing pewriting Secretarial Studies Employment Se: Evening Students i Phone or call in perso for complete information. Strayer College 27th Successful Year 721 Thirteenth St. National 1748 Accountt; nu-mou lnihlh Bus! Sont” Aeeoununl Court Reporting Dictation 2 0000000000000000000000000¢ Felix Mahony’s LNational Art Schocol Olr Eight-Month Professional Courses At You tg Accept a Position in Color, nt Dy me__ Design, oste: Cnidres’s day Class. See Our Exhibit. OPENS OCTOBER 1, 9 A.M. to 9 P.M. “1747R. 1. Ave. North 1114 2100000000000 0000000000000¢ Columbia Schools of ENGINEERING Classes Now Forming Four-Year Engineering Course dcs, Stress Analyis Alrplane Fosth m Engineering. ng Boree pilation, surv!‘fn ) l?filp'cum o_n'."fl.' Cnluml:nu Schools of DRAFTING ATl Branches Enroll Any Time Individual Instruction—Day and Evening Classes Send for Eng. or Draft. Cutalogues “COLUMBIA TECH” 1319 F St. NW.. Met. 5626 No Entrance Requirements OLsoN Ruc Co. 511 11th St. N.W.,, ‘WASHINGTON Second Floor Phone National 2182 - WORLD BANK MAY Situation Precipitated by Britain Chief Problem of October Meeting. BY A. R. DECKER. By Cable to The Star. BASEL, Switzerland, October 1.— The meeting of the board of directors of the Bank for International Settle- ments October 12 promises to be most important. Since their last meeting the member banks have backslid from the principles of the gold standard and war has been declared on the century- old monetary system. At stake is the existence of the gold standard itself. The question to be decided by this gold war is: Shall gold | be abandoned as a measure for trade, or shall a new “managed currency” be set up? Central banks, as the Federal Re- serve System in the United States, are the watchdogs of their countries" cur- | rencies, which they protect by regula- tions, chiefly through interest rates. ‘The Bank for International Settlements is the central bank of the central banks. Even before the war debt and reparations payment suspension was de- clared, the main business of the Bank for International Settlements was to act as an agent for the central banks. Its job was to protect the world's cur- rencies through facilitating interna- tional settlements, through economiz- ing gold movements, through using capital deposits for short-term and middle-term loans, through opening financial valves allowing money and i capital to flow from high level reservoirs to dry tanks and through placing funds where interest rates were highest until an automatically leveling motion oc-* cu.rred. No Provision for Situation. Ideal was the situation in which the world bank could not make a profit. Indeed, this bank was not organized for profit, but to serve the world as a (tfld clearing house or level-valve oper- | ator. ‘The world bank is pledged to work for the gold standard and its members | are pledged to the gold standard. Now | we have a situation wherein the star member, in fact, the member which invented the gold standard system, is backsiiding and it was so taken for granted that none of the members would backslide that there is nothing in the statutes to meet this eventuality. Here in Basel they are wondering what will be the attitude of Montagu Norman, governor of the Bank of Eng- Jand—presuming that he comes to repre= sent that bank—and there is cone siderable doubt that Mr, Norman thinks that abandoning the gold standard has been right or wise. There are differences of opinion even in London. It is generally thought that Great Britain went on a wild currency basis through necessity. As one banker here says, “It is probably nearer right to say that Great Britain is now getting in’ line with the rest of Europe than to say that Great Britain is doing some= thing unusual.” ‘War Just Beginning. But whether premeditated or not, it is certain that the British had been planning the move for two years and that they surprised the world with their act in order to preclude a flight from the pound. The queer report of the gold delegation of the League of Nations showing that the world did not have enough gold was inspired by the British. The campaign for a non- political international bank was British. The gold exchange sfandard growth was British. Then came the campaign for lower tariffs and the impossibility to HE EVENING STAR, WASHINGTON, D. C, THURSDAY, OCTOBER 1, 1931. . FIXNEW CURRENCY = standard war was probably fought and won by the gold standard supporters during the first week, but it is a mis- fil%o&l::‘:hlbthemflam: it ust 5 ‘The l&mnlc’:nwloln‘anm the exchange standard countries. These which they call Wo-tomahnkhudwhodmnot reduce these accoun! ‘Therefore Holllml ‘and Switzerland, new members on the board Bank, are pu pean countries on the gold exchange lt&ndll’d hold about $200,000,000 nomlnll worth of sterling exchange. m a small amount, but it is rg these countries. France, one rel ?t e lu.nchut :olg.:‘undlrd ;:m;nmu fl:‘ly'-lnud Oll;:ehroo:y‘\lrl-hn 1.';" llt:;) el s considering excl ging gol rancs old, all ol ic! dical for pounds held by these countries and | the gold exchange standard has lived. thus prevent them from joining Great| The Central Banks of France, Hol- Britain in sliding off the gold basis.!land and other countries hold pounds. It is suggested that the United States France, it is estimated, has E‘fl 000, 000 should do the same thing in South |in London, Belgium has about £2,000,001 America. !nng thr: otl"ller ::)\;l:'i;ka lbokl‘lt 125 utoo! 000. nch privaf nces in Greaf New Members Buy- Goli. ain are estimated at around £200,000,000 Already gold exchange countries are | and American b.llm:el in London even calling in their de its abroad and higher, hence the big losers on pounds are deflating. ‘This is not because they | are American and P‘rench private bank- need gold, but because the public is now | ers and firms. In many countries watching_ the balance sheets of their | pound debtors show a profit. Central Banks, and accounts * ‘held in| The gold standard war i8 not one forelgn banks” or “in foreign exchange” | sided, for even among bankers there will be regarded with suspicious eyes.| are many who favor trying another cur- rency; and when the British propose a managed currency, they will flnd Il?- porters. The theory is to abandon lllblllllflexc nzemduxet.he .| index obtained from as the basis of commodities. e theory is that gold would not then be sought after and that the Prench and Amer- icans wolld be left holding the bag. Stabilization Expected. “Germany is holding like a rock,” a banker here told me. Italy has had to live within her means because she could not overborrow, hence the lira and Italy are sound. Switzerland has a 106 per cent note cover in gold and gold coins alone. ‘The British report that Denmark had gone off the gold standard proved to be a usual war communique and to be in- exact. However, Scandinavian trade is 50 tied up with' the British that some of the northern countries might join u:e Brlt-llh managed-currency ranks. is likewise conceded that India and ui t che damlnlnnn will join the British, bu as a whole will stick to old, having learned its w dufin; the post-war inflation ! Some think that the British also will stabilize on a lower level and that to- morrow they will fight again under and for the gold standard just as hard as today they are waging a war against gold. 81.) countries have 3 P o these institutions have Just dis- covered that they have not even a promise for gold. Most of their paper was sterling, whlch the British imposed on India, Egypt and many Central mmmn powers, which Sir James Arthur Salter tried to spread h China and which Sir Otto laced in South America in get trade away from the ted States or to save his own in- ‘vestments. It is estimated that the Central Eu- (Copyright, g It has been noted by sgriculturists that when two dry Summers occur in successive years the second one is usu#tlly marked by serious visitations of grasshoppers. The scourge of the pests this year in Western States would seem to confirm this belief. A STORE YIDE SALE VERY IDEPARTMFNT PARTICIPATING Super Specials Especially Attractive Due to Our Manufacturers’ Co-operation WINTER CO ATS ADDED ATTRACTION FASHION SHOW Luxurious Fur Trimmed in at Park’s Squirrel, Skunk, Cross Fox, 10 to 11 o'clock Friday Caracul, Badger and Fitch Chester Hale’s $ 4 44 Diving Beauties After This Sale The three leading man tailored coat types-for APPEARING IN “SPLASHES” AT LOEW’S PALACE THEATER $58 and $68 1931-32. Of all-wool crepe and bouclelle cloth— BEGINNING FRIDAY — Entertainment Friday and Saturday by Famous Radio Broadcasting Stars Appearing in Person ~ ANOTHER SUPER SPECIAL Just 488 Pairs Genuine Suede GLOVES, $1.00 New Fall Styles—Black Only—Made to Sell for $1.95—All Sales Final Park's—Main_Floor. SUPER SPECIAL THIS WEEK ONLY 1,000 New Fall HANDBAGS Our Regular $2.95 Values - $1 - rich fur treatments—side button, shawl collar, pouch collar—smart of color (brown, green, black, Spanish tile). OUTSTANDING VALUES. Modeled Friday By Chester Hale’s Diving Beauties Sizes 12 to 20—36 to 46—351, to 501, PARK’S—SECOND FLOOR. A SMALL DEPOSIT will reserve your garment or you may enjoy wearing it while paying for it on our convenient Budget Plan. ANOTHER SUPER SPECIAL NEW 1931-1932 value our collection without equal. Bags of calfskin, patent leather and various other leathers. Styles — Envelopes, back- straps, zippers, pouches in the new colors. get costs of production down in Great Britain, Taxation was increased to one- third the revenue—and the crash came. ‘The battle of the Marne in the gold fl F}lq ConnecTicuT Av. K DEBUTANTE FASHIONS for limited budgets” in the Misses’ Department « « » Where really smart clothes are to be had at really low prices . « « plus the quality and good taste you have always known you could expect of Pasternak. $19.50t0 $39.50 $29.50 to $45.00 $59.50 to $110 - $55.00 t0 $95.00 $7.50 to $12.50 MISSES’ DEPARTMENT Main Ballroom ETGHT P. . SECOND FLOOR DINNER DANCES M. THIS EVENING Eight to One, $2.50 per person, including couvert thromwgh supper dance. Supper Da STARTING TOMORROW Every evening from 7:30 to 9:30 ($1.50 per person, also @& la carte service). Supper dance 10 till 1 (50c exce; rl Friday, Saturday and Holidays, $1). Saturday Night, Special Dinner, $2 nce 10 °#il 1, $1 couvert. ENTERTAINMENT Fawn and Jardon one week’s engagement. From Earle Carroll’s Vanities and Club Richman. The (HOREHAM CONNECTICUT AVE.aX CALVERT Lowe-Nevis ol Figeims ORE! ing n. Directing HAM FUR COATS At Less Than the Price Of a Cloth Coat All Our Better Coats Included Sealine (dyed Coney) natural muskrat, silver muskrat, pony. After This Sale $100 and $125 lap—Mfln Floor NEW HATS 1 lflfr lhli sale Perch one jauntily on the s:de o( your head and you will rejoice at the clever- ness of the French who ocriginated them—and they all have one thing in common—they fit—for they come in no less than 10 head sizes. All colors. PARK’S—MAIN FLOOR. NEW SILK LINGERIE 8 9 Very Attractive; Beautifully Made DRESSES $6.95 [t’s almost unbelievable! Dresses fashioned of genuine canton silk crepe, wool crepes, chiffons, ete., in the newest of styles, including the “Wasp Waisted” dress—copies of leading fashion successes at the recent Paris Opening. Dresses for street, afternoon, 5 o’clock tea and evening in wine, brown, green, Spanish 'tile and black and—most un- usual of all—Sizes to fit the hard to fit woman of 5 ft. 4 and under— 1614 to 2614, OTHER OUTSTANDING GROUPS $9.~95 $ 1 2.95 Super DANCE SETS—PANTIES TEDDIES—STEP-INS—SLIPS Lace Trimmed and Tailored Garments as Soft as a Handkerchief New Pastel Shades—Ideal for Gifts ; PARKS—MAIN FLOOR. $9.65 Just what you have been walting for—the mnewest, smartest frocks for Fall. Silks—Wool Jerseys—Rayon Prints SPORT FROCKS—JACKET DRESSES—CONTRASTING COLORS EVEN EUGENIE FASHIONS Hundreds to Choose From—$2.65 WINTER COATS 9 5 If your budget is limited 9. you may still secure a hand- some servicable, stylish coat during this sale at $9.95. A rare bargain. Novelty and Arch Support Shoes. narrow and round toes—all the new leathers and materigls, including genuine reptile trims—Sises 2% to 9, widths AA to EEE. $4 to $6 Values—$2.67 Park’s—Second Floor. msew) 3,000 PAIRS OF FAMOUS mseny &% «“AS YOU LIKE IT” SILK HOSE 2% IN THIS SPECIAL SELLING EVENT We have persuaded the manufacturer to reduce the price on these famous hose for this sale only—It will not be possible to have another sale on “As You Like It” hose this year. THE COLORS ARE THE SEASON’S SMARTEST Tropique—Tahaiti—Moonbeige—Paseo—Peter Pan—Brown Leaf—Casino. Negrita Bahama—Cloud Dusk—Smoketone. Chiffon or S&vice Welght. Regular $1.00 “As You Like It” “As You Like It” $1.65 Silk Hose 700 $1.29 *- You Save 21c on Each Pair Regular $1.35 “As You Like It” Silk Hose $1.09 Your Saving, 26¢c Every pair of hose in this tremendous selling is absolutely guaranteed to be of first quality. This is in no way a clearance of odds and ends, broken sizes, ete., but it is fresh new mer- chandise received this week. Complete sizes in every style and color. OQur $1.95 “As You Like It” Silk Hose $1.59 You Save 36c