Evening Star Newspaper, March 16, 1932, Page 10

"A-10 ' 1. CREDTSPUT N SBM00 But Former Banker Places | Collectible Foreign Balance at About Five Billions. By the Associated Press. NEW YORK, March 16.—The United States has invested abroad about $28,- 500,000,000, according to the computa- tions of Lawrence Dennis, bapker and one-time member of the! United States diplomatic service. But, Mr. Dennis says in his book, “Is | Capitalism Doomed?”, only about $5400,000,000 of this sum is productive and collectible. Foreigners have investments in the| United States of about $7,500,000,600, ledving America a net—on paper—of | $21,000,000,000. (This country’s similar | creditor position in 1919, as the war ended, was $14,000,000,000.) Paper Obligation. This would be an excellent showing, Mr. Dennis admits, if it were other than a paper obligation, because, as a matter of fact, he says, $11,600,000,000 of war debts and $4,000,000,000 of defaulted bonds and over-valued investments—a totel of $15,600,000,000—cannct be collected. “Thus,” Mr. Dennis says, “for a net| creditor position, on international bal- | ance, of between five and six billion dollats in a near future, in exchange | for. a net liability of taree billion before the war, or a net gain of eight or nine billions since 1914, we exported 18,232 million more then we imported in the | period from July, 1914, to December, | 1919, “Of this 18,232 million surplus, 15.974 | million was an excess of actual exported commodities over imports. (The money | we lent or invested represented in large part the profit we made on this export surplus.) “Rather Costly Price.” | “Does this not seem a rather costly | price to have paid for the change in our Teal net worth on international ac- count? Do these figures suggest that our war exports really have enriched us? | “Then, of course, there is the small | trifie of the costs of the war, not fig- ured in these totals. Does foreign trade pay? “If we could consider our $28,500.- | 000,000 of assets as sound values, and if we disregard the costs of the war, we might grant a case for the profit- | ableness of our war trade. But these $28,500,000,000 represent very largely Dead Sea fruit. (That is, war debts and bad private debts and investments.).” | Mr. Dennis, however, regards nearly | all the international figures as more | nearly symbolic of bankers' juggling | than of the real situation. 1 Game Begun By British. | “Juggling paper exports of capital | ~vith paper imports of interest is a ittle game, invented by the British.,” Ar. Denn's savs, “which has given to American bankers since 1919 a large lice of the national income and added -~beolutely nothing to the total volume °f trade, production or welfare. “The balancing of the movements of ‘ne symbols of cur foreign wealth and ncome has been the especial feat of | ur New York bankers. Obviously the 2at had to be performed if the Amer- :an people were to enjoy the illusion of neir ownership of great quantities of ‘ealth in foreign lands.” ‘). S. GRAIN EXPORTS | SHOW HEAVY DECLINE Jommerce Department Shows 821,- 000 Bushels Shipped Last Week, 1,011,000 Week Before. ¥ the Associated Press. Grain exports last week from the | Tnited States amounted to 821,000 ushels against 1,011,000 bushels the revious week and 424,000 bushels dur- the ccrresponding week of last ear. Commerce Department figures yes- -rday gave the following comparisons etween last week's exports and those f the week before: 1 ‘Wheat, 726,000 bushels against 945,- 00: barley, 72,009 against none: corn, 3,000 against 50,000: oats, 7.000 against 11,000; rye, none against 5,000. Canadian grains exported last week ‘rom United States worts amounted to 28,000 bushels against 1,014,000 bushels | Se previous week, while exports of orth -American wheat flour 49,000 barrels against 130,000 barrels. Friend Husband “Rights.” LONDON (#).—The former Hilda | “ohnston of Milwaukee, married to Sir Tederick William Butterficld, is noth- g if not an obedient wife. Elected resident of a Yorkshire women's Con- srvative association, she asked friend usband’s opinion. “You're not quali- | €d,” he commented. “Righto” she | nswered, and resigned. - | TOPCOAT LA Regardless of the weather—Easter is the one authentic herald of calendar date for wardrobe. satisfaction you'll change to Kass tailored garments, designed for you by that master craftsman—Mr. Albert Kas- san. You'll patterns and Prices Start at 35 KASSAN- Custom 510 11th St. N.W. former | 18 Nothing can surpass the L THE EVENING STAR. WASHINGTON, D. (. WEDNESDAY, MARCH 16, 1932. == Island Fishermen iDICKSTEIN COMMENDS Avoid Waters on DEFENDERS OF JEWS} “0ld Quork’s Day™ zepresentative Tssues statement on Hurley and Adams and | Cites Patriotism. By the Associated Press. “ Representative Dickstein, Democrat, of New York, yesterday issued a state- ment commending Secretary Hurley; and Secretary Adams “for their frmk; and open denunciation of the Army and Tradition 150 Years Old Keeps Natives Ashore, Fearing Squalls. By the Associated Pre: OCRACOKE, N. C, March 16.—To- day the natives of this island off the Navy Register which saw &, in s 1ast |« \YEAKNESS TO OFFEND” issue, to cause & slur upon Jews by | printing an_ articequestining tne | DEPLORED BY DR. 1200 patriotism of our American Jews.” Dickstein quoted a passage from the | b Army and Navy Register as follows: New York Avenue Presbyterian hat the Jews as a race have no- Pastor Addresses Lenten toriously little stomach for military service, since the pay is poor and there is no profit in it, and worse they might be called upon to die for the country of their adoption. They are willing to ex- | ploit our country but not to defend it.” “The offictal figures showing Jewish articipation in the late World War clearly belie this statement,” said Dick- | stein Congregation. Man’s weakness to offend and be or-‘ fended by his fellows was deplored yes- | terday by Dr. J. R. Sizoo, the pastor, in Lenten services at the New Yorl Avenue Presbyterian Church. Dr. Sizoo said one of the most won- | North Carolina coast will not go out upon the waters of the Pamlico Sound to thelr nets, or to dredge scallops, rake or_tong oysters, for March 16 1d Quork's day.” A tradition of over 150 years relates | that Old Quork’s day is a day of sud- den squalls, and the fisherman who ventures upon the water may find his boat blown to destruction upon some nearby shoal The day and the superstition is pe- culiar to this island. The story goes that a fisherman named John Quork, in Coloniai times, went upon the sound on March 16. There was little wind. FPirst Quork prayed for a breeze, then cursed because bis prayers+«were not answered. Then came a sudden puff, which wrecked the boat and drowned Quork. His boat washed up upon another shoal, which later was named for him. FREE PRESCRIPTION OFFER IS EXTENDED | Whelan Drug Stores Announce | Further Aid of Il Among Unemployed. The offer of Whelan drug stores to fill prescriptions free for sick unem- ployed, provided prescribng physicians affirm their illness, has been extended until May 1. This announcement was made by George K. Morrow, chairman of the board of the drug company. The free prescription service was inaugurated January 1. Mr. Morrow said: “Our management feels that it can render a great public service by a will- | ingness to fill prescriptions free for the unemployed. This service does not in- clude liquor, narcotics or proprietary medicines.” Corn Tassels in February. rm was tasseling in February in Colorado County, Tex. Anton Guen- ther has the silks from_ cornstalks in his garden to prove it. He said it was the first time in 50 years he had seen corn tasseling in Midwinter. Easter Holiday Trips at Practically HALF PRICE 15-day limit round _trip tickets sold on March 23, 24, 25, 26 from Washington to any point in the Southeast, includ- ingsall Florida resorts. ATLANTIC COAST LINE Geo. P. James, G. P. A a. 7835 1418 H St. N.W. How One Woman Lost 10 Lbs. in a Week Mrs. Betty Luedcke. of Dayton | writes: “I am using Kruschen to re- | duce weight—I lost 10 pounds in one | week and cannot say too much to | recommend it." To take off fat easily, SAFELY and HARMLESSLY—teke one half teaspoonful of Kruschen in a glass of hot water in the morning before breakfast—it is the safe way to lose unsightly fat and one bottle that lasts 4 weeks cost but a trifie. Get it at Peoples Drug Stores or any drug store in America. If this first bottle fails to convince you this is the safest way to lose fat—money back. 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He said he could conceive of Christianity without & church and without a creed, but not without & cross. Dr. Sizoo spoke again this afternoon at 12:20 o'clock under the auspices of the Washington Federation of Churches. THIEF DEFIES BOREAS The report to police headquarters at | said a burglar had stolen | week. Joliet, I, an electric fan from a shop. Officers glanced at the mermumetex.‘ derful things about heaven is that no which registered 2 above zero, and ' resident in China. F Street Near 9th: EX-SENA_IMPROVING :A r t h r i t i s James A. Reed Expected to Re-| .14 by arrested in i cover From Rochester Operation. es in order te aveid'a lifs of d helples: s. Learn how ROCHESTER, Minn., March 16 () — RAS S p wm?c- slight improvement being noted Nature can help you. Phone or daily in his condition, bellef was ex-| Write for free literature today. pressed today that James A. Reed. | Sold in Washington 15 Years former United States Senator from Mis- | . 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