Evening Star Newspaper, December 20, 1932, Page 4

’ STAR, WASHINGTON, D. C, TUESDAY, DECEMBER 20, 1932. A—4 syu T st THE EVENING DEMOCRATS BALK ' AT DEBT MOVE AID Roosevelt Sympathetic, but Will Leave Issue With Administration. (Continued From First Page.) would be no reason to designate eco- nomic experts to consider them. Afier such proposals are made, the belief was cxpressed that any Amer- icans who represent the United States at the discussions which follow must have cuch knowledge and experience as to i+ able to deal directly with the min- of finance and other high officials of debtor nations. messege Wwill not be dered by the House Ways and 2ns Committee until January, Chair- 1 Collier said today. I am willing to have the Ways end ! Means Committee consider the message, | but I am confident it will not consider it _favorably He opposed Congress setting up any additional commissions to be appointed by Fresident Hoover shortly before his Tetirement, but tion to the President setting up “an- other of his own.” Still_keeping the debts issue out of the forthcoming world economic parley and separate irom the Arms Confer- ence, Mr. Hoover hopes now to co-ordi- nate the three problems and obtain a Teduction in armaments and reach, at the same time, some solutions of eco- nomic difficulties besetting 21l nations. But he also remains steadfast against cancellation. Defaulters Excepted. In all probability, the debt discussions Wil be restricted to those nations which met their obligations on December 15 unless France, Belgium and other de- faulters should meanwhile pay up. Then | it is considered likely they will be given a review. proe must honor the request.” the res of these questions by nations who have sought to maintain their obligations to Senator Watson of Indiana, the Re- 7 publican leader. and Chairman Borah . of the Senate Forcign Relations Com- mittee sounded the call for disarma- ment as a part of any new debt agree- | ment. Borzh is willing to support a general | world conference. including the subjects of money. arms and debts. but it seems uniikely that such a move will be under- | taken at this time. Despite the adamant attitude of ss against authorization of a commission, al of the President's 1dea to pro- ceed on his own initiative and seek solutions to close relatio Situation Realized. e is real appreciation on Capitol of the need for improvement in odity prices as the first step in recovery and with it a disposi- tion to look sympathetically on action hat end. e discussion of debts,” Mr. Hoover « #2id in his message, “is negessarily con- 5 d the solution of major at the World Economic Con- rence and the Arms Conference. “The 1deal way would, therefore, seem to be that some of our representatves i th matters should be selected at form both _these ring for the World ce, and should ex- change views upon the debt questions with certain nations at cnce and to ad- the course fo be pursued as nal Democritic _leaders unfavcrably on Mr. Hoover's n that Presidcnt-elect Roose- te in naming the commis- ontending it was a responsibility belorged to the President and d t be divided. BRITISH WANT EARLY ACTION. Newspapers of Different Political Faith | Przise Hoover's Message, LONDON, December 20 (#).—Great ain looked to its government today for a review of settlemen wih the United States along lines proposed by President The Pres message to Congress announcing decision to carry out this plan was praised by newspapers of different political faiths. But the nation eady was prepared for it by Acting Premier Stanley Baldwin's an- nouncement in Commons yesterday that the United States had agreed to a joint examination of the entire debt question. Two newspapers took the view Presi- dent Hoover’s statement revealed a new world outlook on his part, while another disapproved of his “linking” the debts controversy with a world economic con- ference. Press Comment on Plan. The Daily Telegraph, which supports the dominant Conservative party, ex- pressed astonishment at what is de- scribed as Mr. Hoover's “change of mind.” It said the message showed he was being “completely cured of the de- lusion his country is able to stand on its_own feet economically.” The Herald, Labor party backer, said “the essential point * * '* is Hoover's insistence that the debts problem has entered the world situation. * * * We enter a new phase. * * * Here at last is the basis on which Britain at least can begin a discussion with real hope for_a fruitful result.” The News-Chronicle, which is Liberal in politics, believed it was a mistake that defaulting nations were apparently excluded by President Hoover from dis- cussions of the debts. *““No settlement which is not a world settlement can be really effect! Of however, stressed satis- fact e fact that Great Brit- aln had paid up and thus was entitled, under President Hoover's terms, to talk over the debts. Move Declared Courageous. The floover proposal was not expected to meet with congressional approval in the United States, in the opinion of the News-C! e. It pointed out any settlement would be vain if Congress did not accept it. Hoover's decision to carry on dehi ni tions despite Congress was dese &s ‘“courageous” by that neve: Brit: officialdom firmly declined to comment on Mr. Hoover'’s message to Congress. Dealing between the United States Executive and the Legislature are purely domestic matters, it was ex- plained, in which it would be improper for foreign governments to meddle. Officials Study Message. Neville Chamberlain, Chancellor of the exchequer, and Sir John Simon, foreign secretary, studied President Hoover's message closely - today. Sir John was confined to his room with a cold, but was fully in touch with de- velopments. The message also was the subject of a report from Sir Ronald Lindsay, the ambassador at Washington. In parliamentary circles, Mr. Hoover’s message was interpreted as forecasting an invitation to Great Britain to send a debt commission to Washington, and an early announcement of a debt meet- ing was expected. FRENCH PRESS DUBIOUS. PARIS, December 20 newspapers were dubious today of President Hoover's proposal to create machinery for an international discus- sion of war debts, disarmament and the economic situation. Coplous extracts from his special message to Congress were published ‘prominently. ThE widely read independent news- paper Excelsior said: “There is some confusion in this vast, plan but one thing is certain, . nt told Congress, “for discussion | there was general | the problems he held in| (A).—Paris | said he had no objec- | O WEN D. YOUNG., financier, prominently mentioned as a Roosevelt cabinet | possibility, shown as he and President-elect Roosevelt conferred over | the teacups in the executive offices at Albany, N. Y., yesterday. Young | did not disclose the subject of his talk with Mr. Roosevelt.—A. P. Photo. Roosevelt and Young Confer FINANCIER MENTIONED FOR CABINET POST. | namely, that the American delegation to this committee or conference Wwil | have no power to conclude anything. Premier Paul-Boncour must, then, con. sider whether he will temporize, await- ing this general debate, or embark upon | the multiple and complex negotiations to which there is no possible issue be- | fore next March “nder the circumstances,” it asked, | “what is the usefulness of an experts’ committee susceptible to transform it- | self into a vast international consul- tation?” Herriot Paper's Comment. Ere Nouvelle, the organ of Ex-Pre- | mier Heniot, said the Hoover messag “flatters the debtors who paid, but lay: down the principle that any reduction of the debt involves compensation.” (The message said debts would be re- viewed only with nations “who have ! sought to maintain their obligations to_us.” The )N-Momun Echo De Paris called the message “academic.” n The Hoover message was coupled with Senator Borah's proposal for a world | conference on _armaments. money and war debts by the Soclalist party organ. Populaire, It concluded that President Hoover linked debt “cancellation” with | disarmament. (The President reiter- ated opposition to debt cancellation, although suggesting & review of the problem.) “If Europe wants the United States to cancel intergovernmental debts, there must be an early general convention for substantial reduction of armaments,” the Socialist paper further interpreted. Then it asked, “Will our rulers hear President Hoover’s swan song?” The message was expected to have a most_important bearing on the tenor of the debts statement to be made public by the new Paul-Boncour cabinet Thursday. This statement will be in- cluded in the ministerial platform to be presented to the Chamber of Deputies. A vote will be requested from the Chamber to decide whether the cabinet will continue in power. Reliable sources said the new cabinet might favor an examination of France's debts from a world economic standpoint, along the lnes proposed by Mr. Hoover. The cabinet was not expected to ask the Chamber to reconsider its vote post- ponirg the December payment, which many responsible leaders now view as an isolated problem for arbitration. Some officials questioned whether the machinery propesed by Mr. Hoover for international dealings would apply to France because of the view that the December ent was a separate technical problem. Many quarters anticipated a stand would be taken by the Paul-Boncour cabinet for study of the problem by an international economic commission. Semi-Official Reaction. Semi-official reaction to President { harmonizes in interesting ways with the vision of debts by founding revision study on the American nate to Prance | of December 9. A French spokesman repeated that any examination by experts should be note and along the line of its state- agency may seem appropriate, to co- operate with the French government in surveying the entire situation,” and “that there are mutual which should be thoroughly explored.” Frenchmen find confirmation for such ideas in Mr. Hoover's message, when he says, for example, that discussion of the debts is ‘“necessarily connected with solution of the major problems in the world.” It was authentically learned that the French plan, makes the eco- nomic elements the dominant factor in any survey. Presumably the French conception of how to handle the debts will be made known to Washington soon. The indications are that the gov- ernment is embarrassed as to how to handle thé question of the December { interest. Early Agreement Favored. Frcm a practical standpoint it is be- lieved Prance could without great diffi- culty find the money to pay the Decem- ber interest. Provision for the interest payment appeared in the budget for 1932, but, it was stated in parliamentary circles to- |day, it was withdrawn on the recom- mendation particularly of the Finance Committee until such time as it could be definitely determined whether there | was any likelihood of the Hoover mora- | torium being prolonged. | “The atmosphere in political ecircles | continued clearly in favor of reaching an agreement with the United States as soon as possible. i | ROOSEVELT IS SILENT. | Indicates Statement of His Position | Will Be Made Here. | ALBANY, N. Y., December 20 (&) — | There was silence at the executive man- | sion today concerning President Hoover's | proposal that President-clect Roosevelt co-operate with him in setting up ma- | chinery for dealing with war debts, dis- | armament and world economic prob- lems. Close associates of Gov. , Roosevelt delved into his past utterances, finding in them evidence which they inter- preted to mean the Hoover suggestion would not bring a favorable response from the Governor. As for the Governor himself, he indi- cated to newspaper men that any for. mal statement of his position probably would be made at Washington. Mr. Roosevelt, his triends pointed out, has expressed the oninion several times since his conference with Mr. Hoover on war debts las’ month that debts, disarmament and the world eco- nomic situation should be taken up separately. His position, said his friends, is that whereas these problems may be inter- related ultimately, the best approach to them is from an individual siandpoint. Furthermore his advisers feel Mr. | Rcosevel. might object to dealing per- sonally with the e fon at this time. ' It has been indicated that the personnel would be submitted to him before the appointments are finally pessed upon. Roosevelt has empha- | Hoover's message- to Congress is that it | | projected French plan suggesting re-| sized since his election that until March he has no official capacity, and he represented as fecling that should he sarticipate in the creation of a ccmmis- | ion he would be bound to policies the commission might establish. The associates of the next President made it clear that these are their own views derived from close personal con- act with Gov. Roosevelt. The Governor holds the view that difficult situations often can best be | handled by personal emissaries rather than by commissions. He has ex- pressed this opinicn in the past. College Prodigies Are Ready to Prove| They Are Not Dumb Northwestern University Men Willing to Fight Battle of Wits. By the Associated Press. EVANSTON, Ill, December 20— Northwestern University's prodigies are | ready and willing to fight a battle of wits to prove they're not dumb. “Dumbbells” is the word John N. O'Rellly, a freshman student, used in | referring to the prodigies, who were selected by the school for an education- al experiment because of the exception- |ally splendid scholastic records they made in preparatory schools. Six of the “geniuses” issued a challenge to O'Reilly to meet any one of them in an intelligence contest. Among other remarks O'Reilly made about them in the school paper was one that they were missing the most val- uable things in college by burying their nfil in their books. This they de- nied. “We are strong in activities,” one of them replied, “and even competed in the mustache growing contest although we are young. We would like to meet Mr. O'Reilly and show him just how dumb we are.” INLAND WATERWAYS VALUED AT $7,000,000 | Estimate on Corporation and Ter-| minal Company Made for Com- mercial Purposes. By the Associated Press. The Inland Waterways Corporation and the Warrior River Terminal Co., beth owned by the Federal Government, are valued by the Interstate Commerce mmission, mmercial purposes. Tithin the framework of the American | oo Bmision, o pcommercial pu | The commission's Valuation Bureau ment “that the President of the United | v | gave this estimate today to Secretary of States is prepared through whatever|yrar Hurley, along with the statement that the original cost of the corpora- tion’s barge lines and necessary land roperty and the Warnjor River Termi- advantages | na] was more than $2000,000. The value fixed was that at which the properties might be sold, with a prospect of the purchaser being able to obtain a reasonable return on his money. It is not the valuation that would be fixed for rate-making pur- poses. ‘The Valuation Bureau found that the original cost of the properties used in ccnnection with the Federal barge lines carried on the corporation's books $23,354,822.24 should be $22.751,210.53. This property includes the upper and lewer Mississippi River divisions and the Warrior River division and was found to have a fair commercial value of $6.500.000. The Warrior River Terminal Co., a railroad, all of the stock of which is owned by the Waterways Corporation, is carried on the corporation’s books as having cost $1,253227. The Valuation Bureau found that the cost should have been $1,446,678. The commercial value of the Terminal Co. was set at $500,000. —_— . Aviation clubs in New Zealand are ' buying planes with funds raised through | lotteries, which are authorized by the government. @he Forning Htar ROOSEVELT'S AID ON DEBTS AWAITED . President-elect Expected to Answer Hoover’s Pub- lic Appeal. BY DAVID LAWRENCE. President Hoover asked President- elect Roosevelt last month at their White House conference to aid in ar- ranging_the preliminary work for the World Economic Conference. But Mr. Roosevelt preferred to offer no sugges- tions. Since that time the situation has been complicated by the French default on the December debt payments. So Mr. Hoover is asking Mr. Roosevelt publicly to help. The first conversation took place in private after Prof. Moley and Secretary erward that the President was deeply did not wish to participate in the pre- liminary work that had to be done for the World Economic Conference. Since that time, friends of the President- elect, in whom he had more confidence probably than the suggestion of his erst- while rival in the presidential contest, have been urging upon him the same course that Mr. Hoover has outlined in his message to Congress. The ex- pectation now is that there will be co- operation, for Mr. Hoover wants to ap- point to the new debt commission the very men Mr. Roosevelt may wish to have serve on it. Davis Talked for Post. It is expected, for instance, that Nor- man H. Davis, who is a Democrat and was Undersecretary of State in the final days of the Wilson administration, will head the new commission. Mr, Davis has been abroad for more than a year as America's representative on the Commission for Reduction of Arma- ments. He is there now. He has the confidence of the Hoover administration and knows the European situation and its statesmen intimately. He has been mentioned as a possible Secretary of State in the Roosevelt cabinet. ‘The most amazng thing about the Hoover message is that it presents a suggestion which could have been put into effect a year agc when Congress refused to authorize the creation of such a body. It could have been for- | mulated a month ago when Mr. Roose- velt was in Washington. Doubtless Mr. Hoover felt a year ago he could not EL members of Congress to serve on the commission. Maybe he thought the same thing 2 month ago when the doubt about the December 15 payments had not been cleared up. Today the appointment of a debt commission, selected wholly by the Chief Executive without legislative en- actment and simply as a part of constitutional powers to appoint com- missions to negotiate with foreign gov- ernment, depends for its success on the co-operation of President-elect Roose- velt, to whom Mr. Hoover's address is a public petition rather than a private plea. It is assumed here that this | makes difficult any rejection of the | idea by Mr. Roosevelt. In fact, the in- | formal expressions of approval by Democratic members of Congress re- veal that they have had something of a change of heart since the French de- fault in the sense that they realize the Congress is confronted with the prac- ticalities rather than theory now. Congress Shuns Vote. And yet Congress would not wish to !vote on the question of debt-fund- | ing commission because it might be | construed as a weakness or an implied promise of revision, which means, of | course, reduction. | 'So the formula worked out over the | week end saves the face of Congress and may save the face of the French Parliament. It may give the French an excuse to make the December 15 payment, for the mere announcement | of ‘the intention of the President to set | up a commission is a fulfillment to some extent of the French request that consideration be given to a review of the whole debt problem. If France wishes to adopt the Hoover message as & basis for riaking the $19,- 000,000 payment, the way has been opened by the President, and a better atmosphere has been created for a gen- eral examination of the debt problem in relation to the world economic situa- tion. The interweaving of the debt problem with world _economics, the Testoration of commodity price levels, ! the stabilization of exchange and kin- dred questions of trade and commerce, | will now give the economic conference an importance it has not had before. It will provide the basis for exchanging what the Hoover message refers to as | other “compensations” in trade to re- place gold payments. Whether members of Congress agree to accept places on the presidential commission may be a vital consequence in the European mind and there will be an effort on the part of Mr. Hoover to have Mr. Roosevelt persuade his Democratic colleagues to serve, but even if this does not succeed, Europe knows now a debt-funding commission, con- sisting of personnel in whom the new President will have confidence, will soon turn its undivided attention to the perennial problem of war debts. Thus has progress been made over the week end on one of the most perplexing questions before the world today. (Copyright. 1932.) PLAN FOR MARCH 4 Rhode Island State Society to Hold Inauguration Party. | _ Plans for an inauguration party on | March 4 were made at a meeting last night of the Rhode Island State Society at the Arlington Hotel. The organiza- tion also sent a message of congratula- tion to Gov.-elect Theodore Francis Green of Rhode Island. Entertainment _at the meeting was furnished by J. Prederick Nolan, bari- tone, and an orchestra led by Miss Mar- garet Ogden. ADVERTISENENTS B RECEIVED HERE Lincoln Drug Store—7th & O Sts. N.W. Is an Authorized a Star Branch Office CLASSIFIED advertisement in The Star is the quickest way to supply most any want, and to leave the copy at the authorized Star Branch Office in your neighborhood is the quickest way to insure prompt insertion, without a trip downtown to the Main Office. Copy left at Star Branch Offices is prom{tly forwarded to appear in the first available issue. There are no fees in connection with Branch Office service; only regular rates are charged. 1 l 15 YEARS AGO, {“TECHNOCRACY " IDEA ADVANCED] ECONOMIST SAYS oposal Now Being Pushed Is Merely Amplification of His Theory, Californian Declares. By the Associated Press. BERKELEY, Calif, December 20.— Not a new and revolutionary theory, but a well-defined system of social laws first expressed nearly 15 years ago is the way Willlam H. Smyth, Berkeley econo- mist. describes ‘“technocracy,” widely publicized theory of industrial society. Smyth, who is not a professor, but who recently willed his home, Fernwald, to the University of California, declared yesterday he coined the term as early as 1918 to cover a system of economic ideas which he expressed the following year in a serles of articles in the engi- neering publication, Industrial Manage- ment. The articles, appearing in February, Mills withdrew. It became known aft- | nrarch and May, 1919, under the title ‘were later amplified, “Technocracy,” disappointed that the Presilent-elect Smyth said, by & group of copyrighted phlets, all expressing his ideas of mfly in an industrial world. Theory Attracts Wide Interest. Recently economists throughout the Nation have evinced much interest in Smyth’s theory of “technocracy” and have brought wide publicity to the word. Discussing seemingly sudden interest in the theory, Smyth said: “These engineers and professors of sociology and economy are merely amplifying and putting into statistical form the ideas and statements which I made in the various articles I wrote at the time the United States—in fact the entire world—was intoxicated with the fumes of prosperity. “In those days—some 15 years ago— many students of sociology and many economists believed that I was painting too drab a picture of the future; but subsequent events have proved con- clusively that my prognostications were valid. Pointed Out Consequences, “It is gratifying to me to find that, after this long period of doubt on the part of the leading economists and so- clologists, they have now come around to my reasoning that our economic sys- tem is wrong—that it has been wrong for years and needs radical modifica- tions to bring it up to the needs of an industrialized society. “During the war I talked with econ- omists of the War Industries Board, mongmumem Wesley Claire Mitchell, regarding the dangers that would ac- crue—and that we are now facing—as & result of the mortgaging of the future with the huge bond issues then under consideration. “I pointed out the inevitable conse- quences which we are now experienc- ing—that the enormous interest bill on public and private bond issues and credits would sooner or later necessitate canceling of all debts, public and pri vate, to escape national bankruptc; HOOVER MY NAVE DAV AND YOUN Swanson Also Expected to Be Included in Debts Commission. BY CONSTANTINE BROWN. Norman Davis, Senator Swansen of Virginia and Owen D. Young are re-| liably reported to be probable appointees | to the agency to be set up by President | Hoover to discuss the war debts with those countries which have fulfilled | their obligations by paying the Decem- | ber installment under the old debt fund- | ing agreements. But while the President, in the mes- sage he sent yesterday to Congress, makes it clear that only the requests of those nations which have “sought to maintain their obligations toward us” | will be considered by his commission of experts, the State Department still maintains a vague hope that the new French government will be influenced by the President's message to pay in the course of this week the $20,000,000 France owes the United States and | thus avail herself of the possibility of- fered her to present her case for re- | vision. Loophole Believed Left. But even if France continues in her present attitude of refusing to meet her obligation, the message seems to leave a loophole whereby that country's re- quest may be considered, once the debt funding agency is set up. This seems T the President's statement at: | “* + + Our representatives in these | matters should be selected at once who can prepare both these functions of pre- paring for the World Economic Con- ference, and should exchange views upon the debt questions with certain nations at once and to advise upon the | course to be pursued as to others.” The President’s message was not in- tended to give any particular relief to any country, but it was meant to con- vey to Congress a certain amount of in- formation on the world situation as the President sees it. It also is an attempt on his part to help the incoming ad- ministration to face the difficult world problems with which it will be con- fronted from the very outset. The principal thought which guided the Chief Executive in recommending ! to Congress the setting up of machinery to deal with the foreign debts as weil | as with other problems is this: e | world is going through the most severe ! crisis known in modern history. To | solve this crisis, the principal govern- Thents have beer working througn three | channels, but the work has been in- dependent of each other and lacked co- | ordination. | Three Solutions Sought. ' The solution of the following three important problems was being sought | in the last 12 montbs: | (1) The solution of the moxetary crisis which underlies the present de. pression was being sought through the What to* economic conference to be held some- time in April; (2) The solution of the arms ques- tion, which has an indirect bearing-on the 'depression, was being sought by the Geneva arms conference and; 3. The question of debts and repara- tions. The latter was tentatively solved last Summer at Lausanne, while the solution of the former is being sought at present. All these problems were handled in- dividually; no attempt has been made heretofore for a co-ordination of these questions. The chief feature of Mr. Hoover's message is to have one body of experts, political and economic, take up the threads of these various problems and discuss them at the same time. The bedy of men Mr. Hoover intends to appoint will have no power to take any decision, but merely will make the necessary recommendations. Neither will this committee of experts be con- fronted with the usual difficult task { discussing these various matters at once with all the other nations. The chief feature will be that it will take up these questions with each government separately and will then report before the meeting of the International Eco- nomic Conference, on which the hopes | of the nations for an economic revival are pinned. Explains Opposition. For the first time Mr. Hoover re- | veals why he had strongly opposed the | inclusion of the question of tariff rates | and intergovernmental debts in the agenda of the Economic Conference. | This exclusion has been severely criti- | cized, both in this country and abroad. Mr. Hoover discloses now the reasons which prompted him to refuse their inclusion by saying: “The decision here- tofore reached to exclude debt questions from the coming World Economic Con- ference or from any collective confer- | ence with our debtors is wise, as these | are obligations subject only to discus- sion with individual nations and should not form part of a collective discussion or of discussion among many nations not affected.” BLAINE NOT A CANDIDATE FOR FEDERAL JUDGESHIP Wisconsin Senator Wires Milwau- kee Paper to Quiet Rumors Regarding Plans. By the Associated Press. Senator Blaine, Republican of Wis- consin, who was defeated for re-election last Fall, announced yesterday he is not a candidate for Federal judge or any other appointive office. He sent the following _telegram to the Wisconsin News of Milwaukee: i “Press reports in Wisconsin are car- ried from time to time that I am a prospective appointee for Federal judge for Western district, and I note recent similar item in Wisconsin News. 1 have not been and do not intend to be a candidate for any appointive office and I trust this announcement will put at Test further speculation on that score. When 1 am a candidate for public office it will be for an elective office in my State.” Scot;‘l Chapel to Be Sold. EDINBURGH (#).—St. George's Chapel, where Sir Walter Scott wor- shipped. is for sale. The author's pew is marked by a brass plate. The chapel was built in 1792. PutUp’ What to “put up” for borrowed money may be problem until a troublesome You observe that you may borrow at The Morris Plan Bank “on a promise.” And the promise of The Morris Plan borrower is kept the easicr because we have given him an orderly and organized method of paying back what he borrows. Come In porris Plan Bank Under Supervision U. S. Treasury Loaning Hundreds to Thousands Capital and Surplus, $250.00 SENATE LEADERS PRAISE MESSAGE Westerners Hail Hoover’s Plea for Use of Silver. Arms Plan Lauded. ‘The long-awaited special message of President Hoover on the problems of war debts, disarmament and world eco- nomic affairs has drawn expressions cf approval from representatives in Con- gress of both major parties. Where dis- approval was expressed it was due chief- ly to plans for drawing President-elect Roosevelt into_the negotiations and to | the fact the President plans to create a commission which would not convene until after he leaves office. The plea of President Hoover for a larger use of silver currency was Te- celved warmly, especially by Senators from the West. There was general agreement that the questions of arma- ments and World War debts must be considered together. Some of the comment follows: Senator King, Democrat, of Utah: “It is a plea for the use of silver and a very convincing argument against the gold standard.” Senator Pittman, Democrat, of Ne- vada: “It is an able and clear message. I am pleased that the President em- phasized the disastrous effect upon our foreign commerce of the depreciation of the currencies of other governments. * * + I am glad that he recognizes the necessity for a greater use of silver as a metallic base for currency issues.” Extensive disarmament was demand- ed by Senator Watson of Indiana, the Republican leader, in return for any debt reduction. He added: “I agree with the President that there is no time to lose in combating the | destructive forces now at work through- | out the entire world which threaten it with complete disintegration. World War debts and armaments are too closely related tp be severed in any discussion of this situation. If the world is to be saved, armaments must be cut to little more than toy size.” Senator McKellar, Democrat, of Ten- nessee: “It is a well designed plan to get debts mixed up with the Economic Conference in the hope of cancella- tion. I don't believe any administra- tion, new or old, should get mixed up in it"” Representative Rainey of Illinois, Democratic floor leader: “I{ was an academic discussion, with which no one can find fault, except when he says a commission should be appointed for a conference, which will not convene until after he ieaves office. It would be unthinkable to let him ap- point delcgates to @ conference on world conditions for which his policies are responsible.” Chairman McReynolds of the House Foreign Affairs Committee: “Why doesn't he go ahead and act as CURRENCIES POINT ~ OF SLUMP ATTACK Hoover Proposals in Line With Arguments of Euro- pean Experts. By the Assoclated Press, President Hoover’s statement in his special debt message to Congress that “one of the first and most fundamental points of attack” on world business troubles is to “re-establish stability of currencies and foreign exchange,” is in line with arguments which European ministers of finance have been advanc- ing for more than a year. That the weakness of the currencies of many countries is the key-log in the world's financial jam was the burden of speeches at the Lausanne Reparations Conference last Summer by European statesmen, who outlined plans for the oropesed World Economic Conference in London next year. Date Depends on U. S. The date of that conference now de- pends largely upon the attitude of the United States. The reception which Congress accords the Hoover message proposing machinery to discuss plans for bettering the world economic situ- ation as well as disarmament and war debt revision may have a vital bearing on the program to be consicered by the | conference. The plan for the economic meeting, as outlined broadly at Lausanne. was that it should seek the bettering of world commodity prices stabilization of currencies a moval of trade obst tariff quotas, exchange import licenses. Experts have developed this plan somewhat in detail through meetings at Geneva, but war debts, reparation disarmament negotiations have | so involved that preparatory is at a standstill. The United agreed to attend. but insisted debts and tariff questions should no involved. Danube Parley Failed, Last Spring an effort to bring the major nations of E: 3 Da ubian con: lending mone | the Danube for steadying their cur cies failed because of political d ences between Germany and The plin was th would be asked to join w | Eurcpean powers in making re b small loans on conditio countries wo and otherwise open up clog; of commerce. Norman H. Davis, America ment representative, w ed in this effort to restore ged muc he says he will, but use the regular diplomatic channels? He already has Central European count | the power and the money to negotiate and talk through the State Department. | and that seems to be all he is asking | Congress to do. | Chairman Borah of the Senate For- | eign Relations Committee approved the \suggested debt review and proposed a world conference on armaments and { money as well as war debts. One conflicting note was sounded by Senator Glass of Virginia, one of Mr. | Roosevelt’s intimate advisors and a pos- | sible selection as Secrctary of the Treasury, who said he was “far from | sure the President-elect should be drawn into the controversy.” Senator Harrison of Mississippi, rank- ing Democrat on the Finance Commit- tee, declared the message was “in very | good temper and is one of the best state papers Mr. Hoover has sent down here.” He added, however, he did not believe Congress wagld name a debt commission. Senator Reed (Republican, Pennsyl- | vania) characterized the communica- tion as “an admiratle presentation of the difficulties that confront us,” add- ing he was glad that the President “proposes to present a united front by taking action after consultation with | Gov. Roosevelt.” Senator Robinson of Arkansas, the Democratic leader, said he concurred as | to the economic outline presented by Mr. Hoover, but added that “with re- spect to an economic conference I do {not see how it can succeed unless| France and other nations admittedly | ) : % evening /Jfll(L’iZ (I/J/l | obtainable at door. GLASSFORD AUCTIONEER Former Police Chief Will Presi at Benefit Art Brig. Gen. P mer superintende Hutchin: Sale. sale of paintings to be held by the Art League of 2111 Ba croft place. tor der direction of Charl: event will be form: Val Clear. admission by T Works of art, including oil painti water colors, dry prints, woodb prints, wil be disposed of of the league and of local artists. P: from the walls, to purchaser’s name u unless wanted for g ble to pay should first mect their of Decembes 15." nt was so favor= able, however, as Serator Johnson (Re- publican, California) declared that “wrapped in a mass of words in an academic discussion of economics of doubtful me the message looks two ways and, whatever its words, may be read ex: vy as either side or any nation ma re.” /00[1(/(’(1/1; loo, “y lon ,J/IO/U al SLATER 1221 CONNE CTICUT AVE. HE correct, the smart, the chic . .. in foot- wear for the evening. The same inimitable Slater creations thot find high faver among fashionable New York women. Of particular interest at this time, for the gay social rounds of the holiday season. Below are a few of a large ond varied assort- ment, typical of the styles and low price range of the entire offering. Delicate strap type in black satin or velvet with gold kid trim. Also in white crepe ver kid with sil- 925 A stiking combination of blue bro- cade with silver kid. brocade with gold crepe with silver or gold kid. . . Also in brown kid or white 1022 An unusuel and extremely attractive model in white or black crepe combined with silver and gold kid trim. . LATER 1232 1221 CONNECTICUT AVENUE NEW YORK “"STYLE...AND A PALM BEACH SOUTHAMPTON TOUCH OF GENIUS"