Evening Star Newspaper, October 11, 1931, Page 4

A—4 *» PARLEY ON SLVER | VOTED BY LATINS Senator King Joins Appeal} + for Conference in Radio Forum. (Continued From First Page) rantec_the novmilcy of 1 operations.” At previous group discussions dele~ gates had approved two resolutions, one Tecommending the silver ~conference and the other urging Latin-American | countries which already had not done | so to adopt the goid stancavd. The! second. with the words “gold standard” supplanted. was passed along with the silver conference proposel The conference also adopted a reso- | Jution suggesting that the American Republics grant “the greatest tariff | privileges” possible to one another. Measure Substituted. resolution was substituted for | ¢ had been introduced by the delegation as : tariff truce. The approved measure as- | serted that excessive customs tariffs and discriminatory internal taxes constitute | one of the principal causes of the eco- | nomit - crisis. The “tariff privileges.” which were not elaborated upon, would be granted by | the American Aepublics “as Sar as the conditions of their internal economy may permit.” Reduction manufactured pr ern Hemisphere counirics gested. The original silver proposal was ad- vanced by the delegation of El Salvador | and called for & conference on remon- | ‘etization of the metal. The Mexicans, however, under the leadership of J. ‘Silva Herzog and Dantel Cosio Vil- legas; modified this to urge a study of “rehabilitation” of silver. In this form 1t was passed by the group which con- | sidered the general topic of “Currency | tabilization.” In this group the United | tates was voted as favoring both the “silver conference and gold standard | .resolutions ‘This one Cuban of internal taxes on the | ucts of other West- | Jso was su King Takes Part. ! The gold standard resolution, however, was passed in an afternoon session after | some of the silver proponents had left. Among these was Senator King, Demo- crat, of Utah. Although not a dele- gate, Senator King took a prominent part in steering the silver resolution through the conference. A feeling on the part of some of the delegates and confeérence observers the following day that the resolutions con- flicted in spirit, if not™ technically, brought assertions from both sides that there was no conflict. The two recom- | mendations were sent to a committee | to be drafted in conformity with each | other and emerged today with the “gold standard” phrase removed from the wording. i Proponents of the gold standard part | of the resolution said they were satis- | fled that the phraseology of the reso- lution would carry the gold standard idea. without such being specifically mentiened. Silver proponents, on the other hand, were cheerful at their.suc- cess in weeding out the obnoxious section. The United States abstained from voting. | Fear. ‘Interpretations. u While White would not amplify his | comment on the conference floor, it was understood that American dele- gates feared the vague wording of the currency_resolution, if accepted by the United States. might embarrass this i Governmens- through the varety of | ment | Le-Chatel, M. Jus THE LAVAL'S VISIT AS MOMENTOUS Former Dean of Diplomats and Ex-Envoy to U. S. Pleased at Prospect. Hoover and French Premier Are Held Likely to Reach ~ Historic Accord. By (he Associated Press. PARIS, October 10.—The impending visit of Premier Picrre Laval was hailed toda as an event of the first import-| ance by two of France's former Am- | bassadors to the United States—Jules Jusserand, long the dean of the Wash- ngton diplomatic corps, and Jules of the century. In an exclusive statement to the Associated Press, M. Jusserand de- clared that in Premier Laval President Hoover ill ind a man according to his hedrt"—a man who prefers to do things rather than talk about them. M. Cambon said in a similar state- that the Laval trip indicates | Cambon, France's envoy at the turn M. JULES JUSSERAND. Franco-American relations “have never This will surely please the American been more cordial.” Laval to Bring Arm's Expert. Nation as well as hdr President | ~“There are great dates in that com- | mon history of Prance and America ‘The French Premier is sailing for the which have no parallel among people— United States October 16, taking with | February 6, 17178, when the alliance him Louis Aubert, expert on the arma- | with France was sighted; October 19. ment problem. the President he will make disarma- ment preposals based on budgetary con- siderations At his country estate at Saint-Haon- rand said Years have passed since the time when the chairman of the C. R. B. (Commission for Relief of Belgium) by his forcefulness, clear understanding, generosity of heart, saved the lives of thousands of French people in the ravaged regions, and at the same time conceived a friendship and deep regard for the character of the sufferers he had saved. Says Visit May Be Historic. “The recent invitation to Prime Min- ister Laval shows that the President of the United States feels as he did when | chalrman of the C. R. B. Perhaps his sentiment as a practical statesman was confirmed when he saw those same French, cn the brink of the worst eco- romic calamity, face the danger, ask and receive no help, and extricate themselves to the extent of being eco- nomically on the same level today as the American Republic. When you are on the same level it i5 easy to shake hands, “In M. Laval President Hoover will find a man according to his heart. Both prefer to do things rather than talk about them, and they will consider the problems troubling the world with the same desire of solving them, not sim- ply for the sake of their own coun- tries, but for the sake of the world itself. Is as Marked as That of War Loan Drives. possible interpretations. An_American_observer present said: “If the United States had voted affirm- | atively on that resoluticn almost any | theorist could have returned fiom the | conference to claim American support for his ideas on currency.” The confetence also recommended the 21 American governments grant such tariff privileges as their internal economies permit ‘The .generalized tariff recommenda- tion was a stitute for a Cuban pro- posal for g two-year tariff holiday among these governments to permit time for study looking to rearrange- ments in du Tariffs Held Slump Cause. The conference expressed the convic- tion that “excessive customs tariffs and | discriminatory internal taxes on certain | natural products. manufactured or not, | constitute one of the principal ca of the economic crises which the Amer. ican republics are passing through and | which it is urgent to remedy.” The tariff resolution provided that| “the conference submit to the imme- ciate consideration of the American| governments the hope of the delegates | that the Ameri republies would ! grant. as far as t d nternal economy may permit, the great- est tarift privileges 2nd the reduction of internal taxes to the natural prod- | uicts. manufactured or not, produced by the soil or the industry of. the na- | tional territory of the other countries through agreements which are in con- formity with the Pan Amcrican spirit. KING URGES CONFERENCE. Declares World Fiseal tem Defects Need Correction. Senator King declared in his forum ! speech that the international confer- ence should be ealled for the purpose of correcting glaring defects in the fiscal systems of the world. Such a conference, he predicted, undoubtedly would strengthen the gold metallic base by the addition of silver ! Gold was described by Senator King #s a “tyrant.” and a “cruel and ruth- | Jess master.” The gold standard as | the sole measure and standard of value, | he said, is being challenged, and de- | mands are being made that silver be rehabilitated and accorded a monetary status, Great Britain, which more | than any other country is responsible | for the demonetization of silver, he de- | clared. is now paying the penaity for | its unwise and destructive polic H Supply Is Inadeguate. el In all the world, Senator King plained, there are than $11,000, P00.000 of monctary gold to meet the ! obligations of more than 400 billions of | dollars. “That there is an inadequate supply of gold in the world to sustain ! currencies and credits must be obvious | 10 all.” he said. “The devastation and | ruin in our own country are ¥ part ! due. to a-policy which has deprived the world of haif of its metallic bae. Callieux, former French premier, with- | in the past few days has declared that ' the gold standard will not work; that the gold supply. of the world is but a pin point of a pyramid upon which Tests the currencies and credits of the world. “Financiers and pelitical economists of our country are aroused over the ! (evils wroaght by the gold standard and | the dangers which menace our social jand economic structure. Officials of | ex- fthe Government and representatives jof the banking interests have had ,many conferences with a view to al- | \ileviating the -serious situation and averting still more catastrophic conse- quences Commodities are still declin- ing, labor is still unemployed. banks arc still failing and our credit struc- ture is greatly impaired.” Tre use of gold and silver, Senator King pointed out, furnishes to the ' world more units of purchasing power. ‘ more vitalizing elements for trade and | commerce than would be supplied by either gold or silver alone. Until 1916, he said. these metals walked side by side, carrying the trade and commerce of the world, but in’that year Great Britain, largely at the instance of her creditors and bankers, denied silver ac- cess to the mints and made gold the J8je_ siandard and measure of value. i 1 ns of their | ! ficy By the Associated Press NEW YORK, October 10.—Co-opera- tion as widespread and wholehearted at that marking the Liberty loan drives during the World War has been ob- tained for the unemployment relief campaign which opens throughout the United States October 19, Owen D. Young announcd today. “There is to be no campaign for a national fund of any character, said Mr. Young, chairman of the Com- mittee on Mobilization of_ Relief Re- sources of the President’s organization on unemployment_relief. “Communities throughout the coun- try are making provision for their own necds. and the funds they raise will be edministered and distributed where they are raised “The Mobilization Committee will not engage in these local (campaigns. It will give them aid of a national char- acter that local communities could not enlist for themselves.” Advertising on_a national s-ale has been arranged. Mr. Young fald. and the co-operation of newspapers and periodicals, the motion picture indus- ry and broadeasting companies has been enlisted . “Not 1 cent of the money that is given to the local funds will be used to meet the expenses of this Nation-wide program,” Mr. Young added. explan- ing that e facilities are being fur- nished without cost The crite will last until November 25. V. P. I. CANCELS CADETS PLANNED TRIP TO GAME Economic Conditions Given as Reason by President, Address- ing Classmen. B the Associated Press. BLACKSBURG. Va. Dr. Julian October 10.— A. Burruss, president of | V. P. I, today explained to the upper classmen that present economic con- ditions caused the board of visitars of the institute to refuse authorization of the proposed cadet corps’ trip te the Tech-William and Mary game in Rich- mond next Saturday. Dr Burruss said that while the board advised against students going on the trip it did not forbid a reasonable num- ber of individual leaves being granted in the discretion of the administrative council. Leaves may be granted to meml of the senior, junior and sophomore classes upon written request from parents, provided the students have records of satsfactory class work. The classes will ba conducted as usual, Dr. Burruss said, and students granted leaves will be held responsible for the work missed. The resulting effect in Great Britain, he declared, was disastrous. Cites Orient's Situation. Senator King also referred to the serious effects upon international trade h China of the gold standard pol- ') nd pointed out that if silver oc- cupied its proper place in the moneiary systems of the world, the Orient would purchase from the United States and other nations, commodities of the value of billions of dollars a year, and that the standard of living of the orientals would be materially improved. “In view of the serious consequences of the present situation and the eco- nomic condition of the world,” Senator King declared, “it is eminently desi able that a conference should be called during this year which all intereste It was authoritatively | reported that when the premier meets | bodies may be heard for the purposc | of seeking a selution to the silver prob- lem. “Fleven States have asked the Presi- nd dent to call such a confer American Federation of Labor rious: other. organizitions threughou the United States have adopted resolu- tons favoring an international confer- ence for- the proper policy in relation to silver. 1781, when Oornwallis surrendered at Yorktown: the April 2, 1917, when Pres- ident Wilson read his war message. Will the visit of M. Laval be one more of these great dates? Maybe. In eny case. it will be & happy date.” M. Cambon Tells Satisfaction. M. Cambon, nd old man French_diplomacy ment at Thonon-Les-Bains: “The rews of the invitation of Presi- dent Hoover to M. Laval was for me & reason for lively satisfaction. It is the first time that an affair of that sort has come about, and it indicates that the relations of the United States and of France have never been more cordial | than now “These relations are summoned to take on & develcpment which will re- spond these two great and free nations. Sees Ties Strengthened. “I had the honor of being France's Ambassador in Washington at the time of the Spanish-American War, and I followed _through Kinley the negotiations which put an end to the conflict “It was at that time that T formed bonds of friendship with Mr. Roosevelt, whose loftiness of mind and generosity of heart one cannot praise too much. “An invitation such as M. Laval has received Tesponds to the that Theodore Roosevelt ward me in those day strengthen the tles liberty tween two great peoples.” showed to- hat the love of AID FOR JOBLESS NEW CREDIT GROUP HELD WIDESPREAD MAY BEGIN Young Announces Response Triple Security to Be Asked in INWEEK | Loans Limited o Banks Buying Debentures. By the ated Press. NEW YORK, October 10.—The bil- lion-dollar National Crecit Corporation formed 1o bolster the bankirg structure may be operating within a week, Mor- timer N. Buckner, chairman commlittee setting up the organization, said tonight. Mr. Buckner of the banks of the country as “mag- nificent.” The complete slate of di- rectors, he explained. could not be announced, but would be ready well in advance of the organization meeting, which is scheduled for next Tuesday, as_Monday is a holiday. Mr. Buckner said that sufficient progress had been made in laving out methads of procedure to permit an ex- planation as to how the plan will work. Will Sell Debentures. As previcusly announced, the cor- poration funds will be raised by the selling of debentures to banks through- out the country. The public also will be permitted purchase the deben- tures, although no considerable public demand is anticipated. The directors of the corporation each will represent one of the 12 Federal Reserve districts, and banks in the va- rious localities in each district will set up associations. many of which already exist as clearing house organizations. Triple Security Planned. Each association will select a loan committee, which will pass upon quests of banks for. funds. When a loan is approved locally, the committee will transmit the request to the cor- poration, which upon approval will make available the desired funds. The borrowing bank will present its own note and will provide such of its| asscts as collateral as the committee may decide is necessary. Before the loan is finally made the note of the bank must be indorsed by an agent of the local association of banks. The corporation will have, therefore. triple security for each loan. that is (1) the mote of the borrowing bank, (2) the collateral put up against the note, (3) the note of the local associa- tion of banks. Loans te Subscribers Only. 5 Every bank throughout the Unite States is requested ta subscribe for the corporation’s debentures up to 2 per cent of its de ts, or the legal limit | which it may ihvest in a single security, if that is lower. The banks will not be requested to pay for the debentures ex- cept as funds are needed. The extent of the loans to be made in any locality will not be dependent upon the amount of the debentures taken by the local banks, for it is the purpose of the corporation to direct funds from ‘liquid centers such New York City to centers in need of funds. However, loans will not be made to banks which fail to subscribe for some of the deberntures. $8,000,000 SHIP LAUNCHED Matson Liner Christened at Massa- chusetts Yards. QUINCY, Ma S. 8. Mo being —Thi of three vessels of $8,000,000 each e gation Co. at the yards of the Eethclehem Shipbuilding Coerporation, was launched todsy. Mrs. E. Faxon Bishbp of Honolulu, wife of a ditector of th: sicemehip company, christened the 630-foci ship as it siid down the wa (he Mcnterey draws 28 fect of water, displaces 26,000 tons, is an cil burner, will mak: beiter than 20 kacts and ¢ vs Her sister si commi.ssion in January. e will nec be ready for service until the Sprirg. i . e Buenos Aires Warns Mobs. BUENOS AIRES, October 10 (#).—A of devising a | warning to the public that tear gas. 1|/ may be used to disperse any disorderly 900 extras dally, with approximately can conceive of no valid reasons why | strest gatherings was issugl by bolice such a confegence has not been called.” todag. issued this state- | to the profound sentiments of | with President Me- | sentiments | and it tends to | and progress have created be- | of the | described the response | SUNDAY STAR, WASHINGTON, | JUSSERAND AND CAMBON HAIL | WARBUDGET STORY DENIED BY LAVAL Terms as Imaginary Report He Might Oppose Cut in Talk to Hoover. By Cable to The Star. PARIS, October 10.—Premier Pierre Laval teday termed “pure imagination’ a story printed in New York from Paris today stating that he might propose, at his coming conference with President | Hoover in Washington, that the powers j reduce their war budgets 25 per cent if | America would agree to cut the war | debts due to it by 50 per cent. . | A comunique from the ministry of | interior said: “This report is pure imagination. The Prench premier has made no statement concerning the conversations he will have with the President of the United | States.” Debt Position Unchanged. It is learned in authoritative circles that the French position on debts and disarmament . is unchanged. As the French see it. the two subjects are in no way connected, and Premier Laval can be counted on to resist to the utter- most any attempt which might be made to link them. Now, as always, the French position is that there can be no disarmament without security. It was indicated, however, ‘that this further conclusion might be drawn: If disarma- ment is based upon the assurance of security then the more security guaran- lmd the greater the disarmament pos- sible It is pointed ‘out here that the Kel- logg pact, while it outlaws war, does | not envisage measures to be taken in the event of war. 'Two possibilities are always present in French thought when the problem of security is brought up. First is that some sort of consultative agreement might be drawn up whereby the powers could intervene to prevent an outbreak of threatened conflagra- tion; secondly, the powers might agree to bring pressure in common against an aggressor by refusing supplies of food, munitions and money. Must Have Security Guarantee. It is indicated that the second meas- | ure might be accepted here as justifi- cation for a considerable slash in arma. ments. Certainly Premier Laval has no intention of agreeing to a cut in ‘maments without some guarantee of securi It was made equally plain today. unof- ficially, but none the less authoritative- ly. that the premier has no intention of allowing any connection to be estab- { lished between disarmament and debts. No one knows better than he the short shift he would get wien he returned from Washington if he did. The French position in debts, briefly, is this France is willing to renounce repa- rations from Germany to the extent that she is relleved of payments to the United States. She is not willing, however. to give up the unconditional payments from Germany which are | applied not to the American debt, but to the rebuilding of the devastated ter- ritories. | ’ regard to « (Copyright, 1931) LAVAL'S MIND OPEN. Selection of Aide Indicates Importance Attached te Disarmament. PARIS, October 10 (#)—When Pre- mier Laval meets President Hoover in| Washington he will make disarmament ! proposals bascd on budgetary consid- erations, it was said today in respon- sible quarters. Although the premier’s mind is said still to be open on the disarmament question, French officfals predict he will| | reiterate to . the -American President France's old position that reduction in armament depends upon the develop- ment of arbitration. He is expected to point out that for France security and mutual assistance in time of aggres- sion are essential The selection by the premier of Louis | Aubert to serve as his right-hand man on the trip- to Washington is inter- | preted as indicating the importance M | Laval attaches to the disarmament problem. M. Aubert., who was confidential ad- viser to former Premier Tardieu at the; London Naval Conference, recently was appointed head of a special depariment at the superior council of nationel de- fense. In this post it is his duty to prepare for the International disarma- ment Conference to be. held in Geneva next February. A member of the premier's Washing- ton party sald today that M. Laval has not yet had time to formulate detailed | disarmament proposals to submit tc President Hoover. INMATE OF HOME DEAD; FRIEND HELD IN SLAYING Man Arrested Said to Have Con- fessed Striking Companion With | | ’ By the Associated Press, i __ROCHESTER, N. H. October 10—A , 16-year-old_inmate of Stafford County Farm, at Cochewo, was injured fatally today and another, was under ar- | rest tonight, charged with killing him | in a fight | David W. Edgerly died from a skull fracture. Supt. Frank Upham said Ar- thur Willey had confessed striking Ed- gerly with a cane during a quarrel, | Both had been known as close friends. | Edgerly was found unconscious and | covered with papers at a spot on the farm grounds cescribed by Willey, who told police: “We started for a walk and he (Edgerly) wanted me to go off to the | Health house. I told him. it was against | the yules and he got mad and started ! to hit me with his cane. I hit him | back, but I don't know how he got hurt %0 bad. DEBT CANCELLATION SEEN IN HOOVER PLAN ;Mnbnml Representative Europe Does Not Intend H to Pay Obligation. By the Associated Press. An assertion that President Hoover had in reality canceled the war debts ! by proposing the one-year moratorium was made yesterday by Representative Huddleston of Alabama. The Democratic labor supporter said ' the American people as a whole opposed the moratorium, which “in reality means cancellation of the debt” of about $11,000,000,000. Huddleston said it did not make any difference whether Congress ratified the one-year moratorium since the Euro-| ! pean countries did not intend to pay ' the money due December 15 anyway. Cane During Quarrel. R e PLAN $2,500, 000 FILMS. Warners Announce Extension Pro- Jject for Future. HOLLYWOOD, Calif,, October 10 (P)—J. L. Warner, vice president in harge of production for the Warner Brothers-First National studios, tonight , announced immediate launching of a production program which will put 11 | companies to work in the mext two vonths at an outlay of approximately $2,500,000. , ‘The schedule calls for from 400 t. 140 players under contract, Seventy pictures are to be made. ! period. Entering the building, D. C, OCTOBER 11, 1931—PART ONE. Shakespeare Library Nears Completion FOLGER SHRINE TO BARD OF AVON A“ON’G WORLD'S FINEST STRUCTURES. 31 My nary . ‘The beautiful Folger Shakespeare Library, near the Library of Congress, which will be opened soon. Below: speare’s day. BY JAMES WALDO FAWCETT. URING the past year there has been growing on Capitol Hill east of the Library of Con- gress, a building so lovely that as it approaches completion it is being recognized as one of the fair- est structures in the world. Small, as compared with some of its huge con- temporaries, delicate and harmonious in its lines, noble in color and propor it has gemlike semblance pecu- piquant, graceiul and truly fine. The story of the building goes back to the dream of one man. Henry Clay Folger, and the new structure will be known as the Folger Shakespeare Library. Mr. Folger was a financier, one of the uncrowned kings of the petroleum in- dustry, an executive officer of th Standard Oil Co. of New York. his devotion to his industrial interests represented but one phase of his mind. Hidden under the routine of his exist- ence there was a passionate and romantic idealism which centered. strangely enough. about the name and fame of William Shakespeare and found expression in the slow and painstaking collection of an unparalleled treasury of books, pletures and other precious relics of the great poet's life and work This collection Mr. Folger aecided to bequeath to the American people. He planned a fitting casket for the gift Not long after construction began he died. But his widow, sharing his dream, took over the work, and now at last he end is in sight. the dream is be coming & beautiful reality. The architects, Paul P. Cret and Al- exander B. Trowbridge, have performed & co-operative miracle. Their problem was to create a design sympathetic to t! contemporaneous architecture of the city and to the aesthetic traditions of Elizabethan England. They had to bridge the twentieth century with the sixteenth. With admirable skill- they have avoided doing violence to the conditicns of their site, its relation to its environment, its advantag:s and its limitations; they have served both the spirit of the Elizabethan era in which The Shakespeare theater | Shakespeare moved and the intens practical needs and purposes of. the modern student for whom their work was done.. They had recourse to a de- vice at once clever and modest. The ex- terior of their design is of n hspe(‘inl e v tor is led through corridors of no par- ticular style. The imagination is lured back through the years, a step at & time, until it unconscicusly enters the atmosphers of the Tudor period from | which the architects very properly drew the inspiration for the three integral parts the interior. Built on Low Terrace. The building stands on a low terrace. It is bulit cf fine white Georgia marble, which time will rcb of its nascent shine. The walls themselves are reti- cent to the point of homeliness. But by means of high windows with grills and screens of wrought iron, tall doors and a series of nine bas-reliefs reproducing KAHN on 7th St. Established 34 Years Says ! 3 815 Rimless Glasses, as »hotograph- ed abore. $7.50 inside the library scenes in Shakespeare's greater plays this plainness is c:rrec nius almost mathematical There is no corr natural. Three inscriptions in tribute to the poet take the place of a frieze Even the narrow lawn and the bord of verdant yew seem to have been d liberately figured into the picture. sum total of the impression is ju right. The spectat:r can think rothing to add nor of anything to st tract. As a composition the exterior is entirely satisfying. Inside the building there has been a natural division of space to serve three special purposes. On the south si the library proper, a fine large r-om for the use of students of Shakespeare and his time. A balcony. encircling the apartment. provides sheives for an up- per tier_of beoks matching a lower tier below. Trusses of dark oak support the vaulted rcof. At the east end of the room is a carved timber screen which reproduces the Shakespeare memorial at Trinity Church. Stratford. Here will be the portraits of Mr. and Mrs. Fol- ger below a bust of Shakespeare. At the west end a large Gothic window of ained and plain glass displays seven olored figures yepresenting Shake- speare’s celebrated “Seven Ages of Man.” This window, like all the others mn the room, has particular dignity in no way marred by ils quietness. Less color would have been a faul more color would have been an exag- geration. In the center of the north wall is a capacious fireplace. The Tudor roses and Shakespeare’s arms are everywhere—molded in the plaster, carved In the woodwork. wrought in metal. Tt will be in this place that the scholarly purpose of the library will be met. Here students may freely come to consult the books and manuscriptsf gathered by the founder through 50 years. How well he understcod the stu- dents’ Tequirements is manifested by the fact that a complete photostatic laboratory is hidden away somewhere behind the scenes. Paralleling the library and filling the north center of the building is the ex- hibition hall, in which relics accumu- lated by Mr. Folger will be displayed. This is without question one of the finest rooms in the United States. Its proportions are absolutely musical in |their symmetry. An ordered forest of | gloriously carved oak and delicately | molded plaster and stone, its serenity is so gracious that it seems a pity th it must be disturbed by the intrusion | of display cases | Period Theater Reproduced. On_the east end of the structure is |the Shakespeare Theater, a creation | | entirely novel in our time and coun- | try. It is a faithful reproduction of the playhouse that Shakespeare knew and used. The stage is intimate and unre- {served; the players who will tread its | boards will find’ themselves in far more | direct association with their audiences than ever is the case in the aver-| age theater of today. Carved balconies | fill three sides of the house. Over the pit there is & painted canopy canvas. It is & faithful reproduction of the play house of Shake- —Star Staff and Harris-Ewing Photos. So far, the theater of Shakespeare is | ccurately revived. But science has °d improvements of which the poet ier dreamed. There is, for instance, a ing system whereby all the numer- ous effects of iight and shade dear to the heart of the modern play-producer may be accomplished. The acoustics of | the house are perfect. Audiences of some 300 may be accommodated. At the west end are the offices of the librarian and his aide: a beautiful stu originally designed for Mr. Fol- ger's personal use: vaults for the safe- keeping of the more precious volumes of the Ilibrary, cloak rooms, storerooms. ete. All this section of the building is skillfully arranged, with the ideal of practical utility as the guiding princi- ple. Even the temperature of the vaults is scientifically regulated. In the basement are the stacks proper, with a carrying system com- municating with the library above. The hufidxn; and its site represent an investment of approximately $2,000.- 000. The trustees of Amherst College, Mr. Folger's alma mater, are charged with the care and management of the library, and they will administer a fund of $10.000,000 which Mr. Folger left for endowment purposes. Library Not Here Yet. Mr. Folger's books have not vet ar- rived in Washington. It is understood that they have been in storage for some years and have not been exam- ined by their new custodians. The to- tal number of volumes listed exceeds ' 70,000. Among the gems of the collec~ tion are 79 of the 200 known existing coples of the first folio of Shakespeare's plays (1£23). The so-called Vincent folio Mr. Folger considered “the most precious book in the world.” present by Willlam Jaggard, the printer, to Augustine Vincent, the her- ald, who was instrumental in securing the grant of Shakespeare's arms. Of the second folio there are at least 50 copies, of the third at least 24. There are also many plays in quarto. Of the first printing of Shakespeare's “Son- nets” (1609) there are two copies. Some of the volumes have marginal The collection includes books onee ovned by Charles Lamb, Samuel Tay- The most GLASSES need not § |mar your appearance ® @ An Outstanding Value! Genuine Toric Glasses Genuine Toric KRYPTOK Lenses Invisible ocal The best lenses made for $15. (One pair to see near and far). Special ............ $7.50 $3.50 FAR or NEAR EXAMINATION..Case and Cleaner Included FREE! to sell Kahn Optical Co. 617 Seventh St. N.W Between F and G Streets Co You'l It was | U. 3. READY T0 CUT - ALLIES' PRYMENTS :Europe, However, Must First Promise to Put Political House in Order. (Continued Froni Pirst Page.) | | | ing = big loss to convert their holdings of foreign bonds into cash to pay de- | positors. The same holds true with re- | spect to raflroad bonds. That's why | the President is so intercsted in de- | veloping a revolving fund of $500,000,- 000 either through the new Naticnal Credit Corporation or the proposed Government Finance Corporation, pat- terned after the War Finance Corpora tion, to takeé care of the railrozd se- curity problem. This is vital because insurance companies and savings banks have s0 y billions invested in reil road securitic A relatively small fund and pledges of Government cooperation in refinanc- ing railroads next year when so many bonds mature is expected to have the psychological effect necessary to - | prove the whole bond market. The latter is in effect America’s source of long term credit and until that is im- proved a general improvement in busi- ness cannot take place. Mistakes Have Been Made. So the foreigp and domestic situations | are interwoven 2nd hence the announce- | ment of th> o help | th> bankers of th v assur- ing them of a bett tween tne United on war debts. It may be said that the | American bankers had no business lend- ing such big sums on short-term credit to Europe, but the fact is they have loaned $1,000.000,000, and it is a condi- tion and not a theory that confronts the President. So also with respect to slow assets in country banks. Mistakes have been made, but the problem is how to prevent the greater damage that comes from a seepage in public confi- dence. ‘The debt question will not be settied quickly. The President first must reach an understanding with M. Laval on the moratorium extension. It may be that the decision will be to forget the moratorium and go directly to the prob- |lem of revising war debt payments though members of Congress will un- | questionably ipsist that a moratorium of two or three years would be better ¢ attempt to revise war debts v to pay in a disordered eco- nomic world If Mr. Hoover cannot get agreem for an immediate conference to rev countr and Europe m extension as the best obtainable, but he is counting on a rising publie sentiment in favor of getting some re- vision of war debts definitely under way 52 1t will not be constantly plag: the principal nations of the world and thelr finances. Must Put House in Order. 1t is being made clear here that be- |fore there can be any revision of war debts Eurcpe must promise to put her | political house in order. Relations be- tween Germany and France must be mended so that stability can be rea- sonably assured. The United States has no wish to decide. for example, whether the Polish corridor should eor should not be returned to Germany, but these European questions must be settled by European nations themselves before the United States Government sees the wisdom of agreeing to a per- manent revision of debts. Such a collaboration between Euro- pean nations, however, will hardly get momentum unless in the distance is some goal which will appeal to the peoples, namely, revision of tax bur- dens. Cables from Paris indicate that Premier Laval favors a 50 per cent cut |in_annual payments on war debts and a 25 per cent cut in armament budgets. This is suggestive of the great impor- |tance that may be attached to the forthcoming conferences of the heads of the governments of France and the United States. It means that within the next month decisions of policy will be taken to strengthen the foreign eco- nomic situation and in turn the con- fidence of American investors and de- itors in- the soundness of - their nancial institutions. (Copyright, 1931.) lor Coleridge, Sarah Siddons, George Washington, John Adams and Abraham Lincoln. William A. Slade, for many years at the head of the bibliographic ~depart- ment of the Library of Congress. has been appointed librarian of the Folger Foundation, and Prof. Joseph Quincy Adams of Cornell University will be di- rector of research. It is expecied that the mew institu- tion will play an important part in the cultural evolution of Washington as well | as in that of the country at large. That | Shakespeare is far from being “a wan- ing classic” is made strikingly apparent | by the fact that scores of people every ! notes by eminent owners of the past. |day endeavor to secure admittance to | the Folger Building. The exact date of | opening has not yet been decided. A Bank —doing sM4LL things BIG The Mortis Plan satisfactory way of making loans for personal use me in— 1 like us and the way we do things - Morris Plan Bank Under Supervision U. S. Treasury Loaning Hundreds to Thousands