Evening Star Newspaper, November 30, 1931, Page 25

— Qur Semi-Monthly bds SALE Face Powder Coty’s Face Powder Reichsbank Head Cites Need to Curb Foreign Runs on Country. % PALAIS ROY, ~Holiday Sa CASH YOUR CHRISTMAS SAVINGS CHECKS HERE—MAIN AND FIFTH FLOORS : o OV TR THE EVENING STAR, WASHINGTON, D. C. MONDAY. NOVEMBER 30, 1931. | . | GERMAN PROBLEMS | e and Lipstick 67c Mello-Glo face powder sl 2.50 d\xrginin Lee face $l fi , both. .. POWARE: " 6, o s5vion impn i yette and perfume, Evening in Paris face pow- Djer-Kiss face powder, per- d perfume, fume and atomizer, ::;- e R ; 00 Saiter 85¢ Bath Salts porurs. 293 5150 Size R. Louis rume, 79o Jade-Jar Bath Salts 69c $1 assortment nov- elty bath salts. . 69c¢ er | dition. particularly with reg: o her | capacity to pay reparations, by an Ad- of or Ini | visory Committes of the Bank ter- national Eettlements. He replied with “he following statement.) DR. HANS LUTHER, President of the Reichsbank.) (Copyright, 1931, by the Acsociated Press) BERLIN, November 30.—The Reichs- bank’s sale of gold and foreign bills | during recent weeks has attracted un- usual attention both in Germany and abread. The opinion is widespread that Ger- many, under tha stand-still agreement and in view of her active trade balance, cught even to be able to replenish her | supply of gold and foreign exchange. | However, this so-called stand-still agreement contains so many exceptions and gops that the unfavorable develop- ment of gold and foreign exchange re- Great_val:iety, beautiful styleé, high quality, low prices! ‘Gift SLIPPERS for everybody - d odeurs serves of the Reichsbank is in the largest measure explained by it. Repayments Traced. | Pigures published some time ago by | the Reichsbank show repayments of | credits exercise a determining influence {upen the foreign exchange balance, These repayments have amounted from July 31—the day when the stand-still agreement became effiective—until the | middle of November to more than 1,000,000,009 reichsmariks. Of the Reichsbank sale of foreign bills during the period from September 1 to November 15, totaling 1,920,000,000 reichsmarks (in round rigures), only 900,000,000 were needed for trade in commodities, while 1,020,000,000 went into the movement of capital. Of these 1,020,000,000 reichsmarks, 720,000,000 constitute repayment of credit. Without these repayments of credit ‘Lhe Reichsbank would have been able to show, instead of a loss of foreign ex- change amounting to 510,000,000 reichs- marks, an increase of 210,000,000. Th s demonstrates clearly that Germany a: present is going beyond her strengtn :n her endeavor to do the utmot to fuldll | her obligations in the way of debts and especially the obligations assumed in Men’s hand-turned leather opera & Quilted satin everetts, with pad Leather bridge slippers, with Apkle-strap sandal mules, 3.95 Romeo slippers, with urite S 'y ad- s > : H iis soles and rubber hand - turned soles and Cuban i, plack, with leather lining leather sol 2 95 ded sole and $1 .00t03.00 teels. Biue, green, red, 2.50 heels . " b BIamer it st ety Miscellaneous Krank’s $1.75 Nail m;flel Care Set Nigit Discontinued style. 5 49c | Quilted satin slippers, with pad- Men's hand-turned leather everetts, Meln': IIenther slippers, with pad- rse % ; s vi i 2 soles d ted soles 0 size hand lotion ded sole and low covered 2 00 Black s‘at_in mules, with 3.00 \\1}(]{1 1;:¢\l]1cr soles an 2.95 x;:l Icec!: 2-00 and 2.95 2.95 :"E“‘ T eah purchage ot 50c heels. A variety of colors..“%* colored linings. .......... rubberheels ., ...o...000 : g g bottle of Chamberlain Hand Y Other styles from 1.00 to 3.95 Palais Royal—Second Floor l i 49 Lotion. Main Floor the stand-still agreement. Can’t Solve Problem Alone. Germany's good will alone cannot solve the probiem. As there figures hitherto for the most part have been uncnown to the puoi.c, the false assumption has been made in gome quarters the unsatisfactory posi- tion of Germany's supply of Ioieign exchange is essentially infiuenced by a flight of capital and failure to sur- render foreign exchange. In opposing this view, I do not de- sire to place decisive weight upon tae fact that government-controlled econ- omy measures can never be 100 per ceat successful. For such control must never advance to a point where it will hamper normal and healthy operatioas of trade in an unbearable manne:. Approximately the following can be said as to the efficacy of control of for~ eign exchange in Germany. A—WOICL 11 3iSta sible—the excess of e: PALAISSROYAISGIFTSSPECIAL Please her with a warm 2| Coat Sweater 3.50 These are the splendid 495 and 5.95 grades All-wool .zephyr cardigans, some with collars—all with deep pockets, In plain, jac- quard or boucle-trimmed sty'es. Plack, navy, green, brown, wine, blue, tan, tile. Sizes 34 to 46. Heretofore unheard of! A special purchase and sale of Men’s pure silk SOCkS 4 pairs for First quality! 27¢ a pair when purchased OO singly [ ) / ber 1 to November 15 had in its e.. become converied into foreign exch: even then such receipt of foreig: change would not have beeu Su.u..cat to cover payments on movements of capital *totaling 1,020,000,000 reichs- rks. Heavy, lustrous pure silk socks—at the price e you would ordinarily expect to pay for rayon and cotton! An ideal Christmas gift—for what man ever has enough silk hose! Fashioned with seamed back, reinforced soles and heels, elastic knit lisle tops. Smart shades in solid colors. Sizes 10 to 12. Shortage Shown. For the excess of exports over im- ports would, in that hypothetical case, have amounted to about 920,000,060 reichsmarks (September and October together, 750,000,000, plus an_estimated 170,000,000 for half of November). Hence, even then the sum would s.ili have tallen short by 100,000,000 marks. No influx of foreign. exchange, np matter how favorable, could, therefore, O Credits oI S e e Ien of c e present pace. The assumption that an excess of exports over imports becomes converted at once into an increase of foreign exchange is, of course, entirely inad- missible. Between the time the goods cross the border and the amount real- ized from the exports reiches ths country several, let us say three, months on the average elapse. Imports Excess Falls. Palais Royal—Downstairs Store She will like these gay ’ 3 i =On Sweaters and $7 Values ¢ % Pull-0 Palais Royal’s Great New Toyland klin pens at this price : & ‘ 2.0( Has More Dolls—Everything for Dolls— was over-stocked and ‘ A : : Hin! Men’s and wom- i = (I | Our Regular $2.95 Grades at Lower Prices! B Aren’t they gay and colorful! s guaranteed to give ey i This S reens, black, mottled I ; e : e Styles in hand-knit yourself! effects—boucle—novelties — of i : il RoyaleSidorts 6k will find many a little mother to % alais Royal—¢ s Shop— [Main Floor e Germany's excess of imports during the k:llrnl.ler months wasw2!0,000,000 mar] July, as compared with 380,- 000,000 marks in October. On the other hand, the government's demand for surrender of foreign exchange al- ready within the country—essentially a non-recurrent demand—had produced, it may be assemed, its yield during August. If under these circumstances about 510,000,000 marks in foreign exchange, according to estimates of the Reichs- bank, have been delivered from the be- - y 3 red, tile, blue, brown, green, for gifts! \ 4 1 Third Floor. welcome her! navy, wine, black, white. Sizes Toy Piano 34 to 42. Mahogany _finish with 2 ® PALAISSROYAISGIFTOSPECIAL e o s Electrical appliances for Added Comfort 1 j \ ] _ Blackboard Electric Heater T 3 1.49 N Has chrome-plated re- i ; : flector. Complete with 98 3 et I cord and plug. A boon ° 3 X a e O y :g:;g st for these cold mornings. " Waffle Iren Ellalllel ;b are Super Electric Waffle Iron, complete with in- 95 $1.50 to $1.75 Values Ghvice dicafor cord and plug. . Is chrome plated. ek —5-Qt. Tea Kettle. Pool Table Doll Bassinette —Oval or Round Dishpans. All Steelgvgagon 3 95 2.25 n . —2-Qt. Percolators. L 2 = Electric Toaster e i 2 vey sturdy €8 S ; —5-Qt. Cooking Kettles o c Heavy, steel wagon with folding table, heavy metal, An easy-to-turn Toaster R long handled sauce Pans rubber tires, disc wheels. "{‘," n:;u ‘?gc:; | el v f that is heavily nickel 95 with cover. Lo o iisitni i eest | plated. Complete with » —3-Piece Mixing Bowl Sets. bered and_col- cord and plug. & or ivory finish. ginning September until the middle of November from the excess of exports over imports, then this shows that Ger- many has come quite close to realizing its aims of complete seizure of foreign exchange. Nevertheless, the Reich's government, at the request of the Reichsbank, re- cently put added teeth into the decree governing foreign exchange, inasmuch as the Reich's government and the Reichsbank want to do everything pos sible on their part to maintain Ger. many’s position with reference to for- eign’exchange. Solution Indicated. That is not, however, where the solu- tion of the problem is to be found. It | is reflecied, rather, in very high repay- She is precious! Bright, bright eyes that go to sleep; chubby, rosy cheeks, legs and arms! Dressed in white, pink or blue organdy. ments of credit which are the cause of continuous losses of foreign exchange and in the general political develop- ment and the world’s economic situa- tion, which still—although now only to | @ limited extent—permits the run by | creditors upon Germany that started at the beginning of last june to continue. To find a solution that will prove a real help should be the more easily possible since Germany since last Au- tumn has already repaid to foreign countries almost 5,000,000,000 marks. or considerably more than $1,000,000,000. [CURLEY CLUB HONORS | WASHINGTON CATHOLICS Group of Prominent Capital Per- sons Given Honorary Mem- bership in Organization. 4-95 Fit for a very princess of dolls! Adjustable hood with windows! Adjust- able back. Woven fiber in green or tan finish, with rubber tires. | _The Curley Club of Washingtan today | announced the appointment of w group of prominent tocal Catholics as honor- ary members of the club, which was or- ganized here nearly 10 years ago to raise funds for Archbishop Michael J. Curley’s scholarships and to promcte and encourage the association of Cath~ olic men and women in the District. The group elected includes Right Rey. John M. McNamara, auxiliary Bishop of Baltimore and pastor of St. Gabriel's Church; Rear Admiral and Mrs, Wil- liam S. Benson, Senator David I. Walsh ored balls; 2 cues and rack. —1%;-Qt. Double Boiler. —3-Piece Sauce Pan Set con- Each Milk Wagon and —_— rack and bot- ot Palais Royal—Fourth Floor forobes. s Palais Royal—Fourth Floor Motor registration in Central Ame: Bright yellow roadstér with and the West Indles Tow averages 118 i e Palais Royal—Fifth Floor ersons o & cax, . assac trick J. Haltigan, i ! d 2 rt .Doll Furniture Horse g‘n:}‘ng c|§'r“x”§';".fe' House of.n.em. A ic El ic I sists of 1, 1/; and 2 qua . soatatives; James E. Collifiower, Gregor utomatic Electric Iron sizes. \ H_Helne, ‘consulting_engineer of the R 00 M, 1.00 | Catholic University of America; Mrs, Guaranteed for three % . . Alfred J. Smith and Timothy J. Brod- years. This iron is A special purchase of this high-grade enamel ware i What a favor- R st draari g chrome plated and comes e enables us to sell it at this low price. Every piece firsty Automobile In green finish; g:lém;i%s:;‘('; a'-'lor the celebration of the fenth complete with cord and quality merchandise. Body triple coated with ivory dressers, bu- wagon, with anniversary of the founding of the club plug. Weighs 6 Ibs. enamel—handles and edges trimmed in green. 5_98 reaus and chif- horse, bottle next year.