Evening Star Newspaper, January 23, 1933, Page 3

TRIBUTE ARRANGED FORMISS MARBURY New York to Pay Homage to| Woman Who Called Self a Failure. By the Assoclated Press. NEW YORK, January 23—The metropolis prepared a notable funeral | today for Miss Elisabeth Marbury, 76 years old, who considered herself a failure. A renowned leader in theatrical, literary, political and civic life, she nevertheless believed that any one of millions of obscure housewives was morg successful than she. When asked for her ideas about suc- cess for women, she would say: “There is only one real success for women; that is to marry happily and have children and a home. In other words, to bring forth life as God in- tended a woman should.” Praised Motherhood. “If a woman,” she would say, “has Tot been blessed with such a union as I have in mind, and with motherhood, | then it is better for her, if she has A Dr. Fordney is professor of criminology at a famous university. His advice is often sought by the police of many cities when confronted with particularly baffing case This problem has been taken from his case- book covering hundreds of criminal inves- tigations. Try. vour wits on it! It takes but ONE MINUTE to read! Every fact and every Clue Decessary to its ‘solution are in the story itself—and there is only one answer. How good a detective are you? Fordney Saves His Life. BY H. A. RIPLEY. S Prof. Fordney sat down at a table in the outdoor beer garden of the Hotel Adlon in Berlin, a tall, distinguished man entered, glanced around, and walked over. “Ah, professor! I understood you were staying here. What a pleasant surprise. May I join you?” “Yes, Herr As the two leis- urely ate their was talents and qualifications, to go cut into the world and find some occupation that will prevent her from becoming | narrow, introspective and unhappy.” Because Miss Marbury had talents and went “out into the world,” there will be a notable funeral tomorrow. Gov. Herbert H. Lehman is expected to head a huge gathering of distinguished people who will go to St. Patrick’s Cathedral to pay tribute to the woman who died yesterday of a heart attack. | Most_ people would have said that| Miss Marbury’s was a_full life. She| was a member of the Democratic Na- | tional Committee, agent for famous| authors, adviser to ycung talent, war| ‘worker and woman leader. | In a book called “My Crystal Ball” she told of her dealing® with poets, statesmen, dancers, generals, play- wrights and politicians. She was play | agent for Victorien Sardou and George Bernard Shaw. Sold Wilde's Work. | Oscar Wilde sent her “The Ballad | ©of Reading Gaol” from his prison cell and she sold it here for $250. She produced “Little Lord Fauntleroy.” She | dangerous, an alert, watchful air in the manner of Schwarz, “Apd don't you sometimes find it profes- sor, to so intimate- | 1y concern yourselt in the affairs of others?” he suave- ly inquired. “That Apache in Paris. . . a close shave as you would say. And did I not read re- cently where Dr. Regis almost succeed- ed in removing you from the ahcur- rent scene? Indeed, I should imagine you constantly in danger, particularly in Germany. Wouldn't it be wise, for instance, for you to leave Berlin—say tonight? But here, our hasenpfeffer has arrived.” “Your concern, my dear Schwarz, is touching. But you see, I rather like | Berlin though I admit a lack of fond- ness for some of its inhabitants.” Just then Fordney turned to greet a passing acquaintance. was a_war nurse, and once she and “Big Bill" Edwards sold $10,000,000 | worth of Liberty bonds in 10 minutes | frcm the steps of the Subtreasury. | She crossed the Atlantic 70 times. | ‘Went bicycling with Nellie Melba in | Brittany. She saw Paris jn ruins just | after the Prussian victory“in 1870. She | promoted the New York success of Irene | and Vernon Castle and she established | a highly moral dance hall on Broad- | way. She got decorated by several gov- emnments and founded wcmen's clubs. | She fought for Al Smith and against prohibition. But she would say, “There is only one | Teal success for women.” TRIBUTE IS PAID HERE. B il ST | Mrs. Norton Praises High Qualities of Miss Elizabeth Marbury. ‘Tribute to Elizabeth Marbury, Demo- cratic national committeewoman from New York, who died yesterday, was paid today by Representative Mary T. Nor- ton of New Jersey. Of the late political leader she said: “She had an unusual mind and a keen politias! sense, as well as a strict sense of justice. The Democratic women of New York and of the Na- tion have lost not only an able friend and leader, but one whose inspiration, vision and loyalty we shall sadly miss.” LEADERS ENROLL IN PLAY INSTITUTE Instruction in Public Entertain-| ment and Recreation to Be Given at Roosevelt High. | | | Leaders of recreational groups throughout the city are enrolling for the Play Institute of 1933 which will be held at Roosevelt High School under direction of the Community Center De- partment each Tuesday night for six ‘weeks, beginning January 31. Miss Ruby F. Neal is general chair- man and the institute will be devoted to_instructing community leaders in public entertainment through games, stunts, story telling, story dramatiza- tion, several types of dancing and party programs. Instructors include Charles M. Fyfe, director of the Boys' Club of Washing- ton; Mrs. Phyllis Wilson Huff and Miss Evelyn Davis. Many charity, fraternal and child welfare organizations are co- operating in making plans for the institute. ‘The committee in charge includes: Mrs. Elizabeth K. Peeples, director of the Community Center Department; Miss Ruth H. Atwell, Miss Sibyl Baker, Miss Lydia Burklin, Miss Mary Edith Coulson, Linn C. Drake, Miss Evelyn Davis, Charles M. Fyfe, Miss Ella Gard- ner. A. Boyd Hinds. Mrs. Phyllis W. Huff, Winfree E. Johnson, Miss Anna 4. Keady, Comdr. W. E. Longfellow, Miss Florence McCracken, Miss Belle Marie Mullins, Mrs. Clara D. Neligh, | Dr. Marie Ready, Miss Irene Richards. | Dr. Rebecca Stoneroad. Mrs. Elwood | Street and Miss Marjorie F. Webster. | NEW WORRIES APPEAR IN SECRET ADOPTION By the Associated Press. DETROIT, January 23—Further omplications appeared today to worry trolman Charles F. Knapp and his 'wife, Harriet Edna, who are on the threshold of the divorce court because the wife secretly adopted a baby boy to_deceive her husband. Both Knapp and his wife want to keep the child, but Knapp, asserting he could not forgive the hoax, has filed suit for divorce. Mrs. Knapp has filed a cross bill. Today, Herbert V. Bar- bour, an attorney, said that the baby's natural mother, Mrs. Alma Ferguson, ‘will take action to regain possession of him if the divorce fight is continued. Despite the divorce actions, the Knapps are living in the same apart- ment, refusing to separate because each ‘wants “Sonn; SPECIAL CES. THE ANNUAL MEETING OF THE STOCK- holders of W. T. Galliher & Bro., Inc., for the election of trustees for the ensuing year and for the transaction of other busi- ness as may properly come n said meet- ing. will be held at the of the cor- poration at .'m:‘n"lnd K ._gv: 3:’ ‘\‘I'I;n%%— on, D. C., at 3:30 p.m.. January 26. 3 g C. EMERY GAL!...!«:H‘I NOT IN BUSINESS POR MY HEAL' for the health of your business. vertising and dupllcutlnlfi all king LETTER_SERVICE. 140¢ st K, JAN. 25 36; to_Clevela TRANSFER & STOI Mall lvdT of ds: ACE ETTES SERV 4 FROM NEW Y TO 20 to Norfolk, Va.. Jan. nd, Jan. 23 or 25. ' SMITHS RAGE CO.. 1313 You st. n.W. THE BALDWIN CONCERT GRAND WHICH T oA lned by Walter Gieseking with the rmonic Orchestra at Constitution Hall January 24, will be furnished by O. J. Moll & Co.. 12th and G sts., who are the sole Washington agents for the manufac- tured instrument. INFORMATION 18 DESIRED AS TO WAGE COSTS. Sn Building Industry in Washington, D. C. Journeymen: CARPENTERS. BRICKLAYERS. PLASTERERS, THERS, K3 L ply, stating aj A5 Yages. 'Snc ive ‘address 3802 Blar office: s SPECIAL MEETING. COLUMBIA LODGE. ASraer - of Moose. Tuesdsy eyening. 24, 1933, Moose Hall. 1414 Eye st. ting, lumchean, smoker. ~ All Moosé please_attend. HAUOL FULL OR PART LOAD TO | ge. experience Address Box De | college boys.” “As you will,” answered Schwarz, with a shrug. '“Have some salt?” “Thank you,” acknowledged Fordney, studying the salt shaker handed him. While it was identical with all the others used by the hotel, he knew it was not the one he had used a few min- utes earlier. “Not a very subtle poisoner,” he said, pocketing it. “This will mean 20 years for you, Schwarz. Attempted murder is & serious business in Germany.” WHY DID FORDNEY SUSPICION SCHWARZ OF ATTEMPTING TO POISON HIM? See Solution on Page A-7.) DE HART' DEATH HELD AGCIDENTAL Newspaper Associate Booth Tarkington Killed by Auto Saturday. of The death Saturday night of Horace P. De Hart, 69, Interior Department dide and former city editor of the La- fayette, Ind., newspaper on which George Barr McCutcheon and Booth Tarking- ton served as reporters, was declared ac- cidental this afternoon by a coroner’s jury. De Hart died from a fractured skull several hours after being struck by an automobile driven by G. H. Arnold, Ambassador Hotel house officer, on Six- teenth street, near Columbia road. Tes- timony at the inquest indicated De Hart failed to observe Arnold’s car and that Arnold did not see De Hart. City editor of the Evening Call at the turn of the century, when Mec- Cutcheon and Tarkington were re- porters, Mr. De Hart left Lafayette when his paper and the Evening Courier was merged. It was while McCutcheon was a reporter on the Call that he wrote his famous novel, “Graustark.” Coming to Washington, Mr. De Hart entered the Interior Department, and for years served as confidentiai secre- tary to the Assistant Secretary of In- terior. He was serving in this capacity to Assistant Secretary Edwards at the time of his death. Funeral services will be held tomor- row afternoon, at 2 o'clock, at the parlors of Joseph Gawler Sons, 1754 Pennsylvania avenue. The body will be cremated. Survivors include his widow, Mrs. Anna De Hart, 2551 Seventeenth street; an adopted daughter, Mrs. Mil- dred Murphy of this city, and a sister, Mrs. Jessica Cheek, Los Angeles. ROBED MEN WHO FLOGGED MOTHER AND SON SOUGHT Alleged to Have Riddled Home in Kentucky—One Suspect Is Held. By the Associated Press. ‘TOMPKINSVILLE, Ky., January 23. —Members of a band of whiterobed men who, Mrs. Orpha Wood told authorities, flogged her and her 14-year- old son, Joe, early yesterday, were sought last night by Monroe County officers. Charlie Wood of Hermitage being one of the men, was held in de- fault of $4,000 bond. Mrs. Wood told County Attorney Paul Carter and other officials that the men, wearing white robes, flogged her and her son severely, shot out the windows and shot holes in the walls of her home with pistols and shotguns, and burned a cross in front of the house Mrs. Wood said she knew of no mo- tive for the attack. SCORE “CLOG DANCING” Taxpayers Demand Revised Sched- ule at Colorado College. DENVER, January 23 (&) dancing for boys,” offered in an agri. cultural college course, is something that shouldn’t be, the Colorado Federa- tion of County Taxpayers' Associations huf;fic lr:"di hay-pitching might Clod-hopping or hay-p g be an acceptable course, but the clog dance is and should be out, the feder- ation asserted here in demanding State tax reforms. The taxpayers believe there is not room in the curriculum for “games for College boys, said Mrs. Mel R. Scott of Fort Collins, know e to learn more. e BANDITS KIDNAP WAITER men held up a cafe here yesterday, robbed it of $39 and kidnaped a waiter, but released him after driving about two miles from Aiken. ‘When the waiter opened the cash register to make change, one of the men drew a pistol. wi TO d, Boston. Pitts- fie Ree e e T IATIONAL D%‘ ASSN., INC., 1317 RO R Local moving also. Officers received a report three sus- pects were under arrest in Charleston, and officers were sent there, Spring, Tenn., accused by Mrs. Wood of | ¢ fll:nty of games without going to col | Pri THE EVE) INFLATION THEORY: | FALSE, SAYSMILLS | | Declares Policy ~Probably Would Delay Possibility of Recovery Indefinitely. prices will have a fixed relationship to the volume of currency in circulation. But this conception even as applied to “money” in the broadest sense is altogether too simple. Money in the modern world consists of currency only very small extent. ite! {of credit of all kinds, but principally of that form of credit known as a bank deposit. Currency in circulation amounts to less than $5,600,000,000, bank de- posits to about $40,000,000,000. But even the volume of bank credit does not tell the whole story, for if we would relate money or credit to prices we have to take into consideration the further factor of the. rate at which that credit is used, or the velocity of the turnover, for two dollars that are used once during a year obviously do no more work in moving merchandise than doss one dollar used twice dur- ing a year. Moreover, we do not live in a self- contained country segregated from the rest of the world. Our prices, cur- rency and credit structures are directly related to and affected by the situation in world markets where our goods are exchanged for the goods of the rest of the world through the medium of an international credit mechanism. The freedom of exchange and the prices at which exchanges of our goods are effected are, therefore, influenced by the relationship between our money and the currencies of other countries, | expressed in terms of dollars. Problem More Complicated. It is apparent, therefore, in the first place that we are dealing with some- thing more complicated than could be reached by a mere expansion of cur- rency. In the second place, assuming we could bring about at will an increase in the volume and velocity of credit in use and that a general rise in prices might ensue, there is nothing to indi- cate that this process of itself would restore a proper relationship between the prices for different commodities or groups of commodities. In fact, it is conceivable that it might increase the maladjustment. I am convinced that we are suffering today from a downward movement of prices and from the unévenness of this movement, as well as from the low level of prices. It is distorted price relationships which retard production and obstruct the exchange of commodi- ties and thus result in a tremendously restricted volume of business. If the volume of production and business could be brought back to normal, even at a comparatively 1bw price level, many payments on debts would once more become bearable and the debts themselves could in time be liquidated. It must be admitted, of course, that there are many debts that must be written down or off, unless prices can be brought to a higher level. I make this point in order to indicate that even if it lay within our power to bring about through some inflationary process much_higher price levels for all com- modities, services, etc., this of itself would not cure the situation so long as the maladjustments continue. ‘This does not mean that I do mnot believe it highly desirable that prices should rise. I do most emphatically. I also believe that an ample supply of “money,” or credit readily obtainable fn:ebo:h lot:sg i:nd short time l’l low nterest raf an_im t factor in bringing about that rlm because ample credit readily obtainable will of itself produce high prices, but because that credit working throagh other eco- nomic factors is an essential condition for increase in the volume of business transactions and thus in prices. Credit Structure Greater. This gives rise to a third point. What reason is there to believe that undmer ouzl prlul:ynmmnuuc monetary system an necessary amount ol pounu.l”mm is la ’lfl) Our stock of gold, the basis upon w] our credit structure rests, is greater now than in 1929, and would obviously sus- tain at least an equal amount of bank credit. The member banks alone gave $600,000,000 more reserves than the law requires and could expand their credit by $9,000,000,000 without borrowing an additional cent from the Federal Re- serve Banks. Bringing this credit into use, how- ever, is apparently a very different question; the actual volume of bank credit is'much smaller than three years 2go; the velocity of bank deposits has been greatly reduced, and the estimated volume of business and financial trans- actions in this country in dollars at current prices during the year 1932 has been less than 45 per cent of the 1929 . volume. us to the real issue. I| This brings believe that while it is necessary that easy money conditions should be main- tained, the remedy will be found in a series of steps and readjustments calculated to remove the barriers that now stand in the way of the produc- tion and exchange of goods, and that as commerce and industrial activity expand credit will' simulaneously be sucked into use and prices will rise. The inflationists, on the other hand, seek by arbitrary governmental action | to force an immediate and wholesale expansion of currency, which they be- lieve will force a rise in prices that will in turn be followed by increased business activity. Three questions may fairly be asked: First, have they diagnosed the disease correctly? Secondly, can they ac. complish even the limited objective of relief to debtors and stimulation to business? And third, are not the con- ditions which _they will ultimately create likely to be definitely worse than hose from which we now seek to escape? ““The first two questions, as we have seen, must be answered in the negative; the third, most emphatically in the affirmative. While there are many, many schemes tormtncrl::smg prices_through mflia:y ' manipulation, e speaking, y fall into two chnum ““y The first consists in direct or indirect inflation through budgetary deficits, j governmental expenditures being arbi- | trarily " increased for this Various public work Patman bonus bill are cal examples. The second class cons of & num- ber of devices for debasing the value . 0f the dollar by more direct action, of which the purpose. and the such colnage of silver at a 16-to-1 ratio. i Justification about $10,145,000,000, and at the end |which there of 1932 nearly $12,000,000,000. If the distribution of this gold among the countries of the world is not to the best advantage, this is an indica- tion of other factors at work, but cer- tainly not proof of a shortage of gold. Moreover, in spite of the disaj 1t~ ing failure of the gold standard to function satisfactorily among the dis- orders of the last few years, I have not the least doubt but that if we could again achieve order and balance in the world's which are conditions of growth, and if we could get the world once more back on the gold standard by rising rapidly. But with the pur: chasing power of the fixed income and of the wage earning classes, there would soon develop a serious maladjustment which would eventually result in col- Farmer Worse Off. ‘The farmer would appear, in the first instance, to be the gainer. If his mort- gage were not payable in gold, he could pay it off in cheap currency. . Rising prices would be reflected in what he received for his products. But the rise iod sabis ubesew, Sl bk | (el i e i, L D i skill to make more economic use of (500n offset the gains Purthermore, as than the values of farm land rose throt ke i e e eiore. 50, % % | the process of inflatian, new debts wou volume of credit which would finance all our activities on a much higher price level than exists today. The rise in the value of gold in terms of which many attempt to ex- plain the recent world-wide decline of commodity prices might better be thought of as primarily the reflection of world-wide disorders which have curtalled production, markets and trade, and have disturbed, and in many ;:uu eompmfely p-rr:lglud, shz normal unctioning of our credit and exc! e mechanism. s Caretul Scrutiny Urged. But the heart of the position of the advocates of revaluation of the dollar is the claim that the reduction of the Yalue of the dollar, regardless of what had caused its rise, would bring about a rise of domestic prices correspon to the devaluation. Such a condition should be subjected to-the most careful be incurred at the higher levels, and when the final crash came the farmer would find himself worse off than ever, with a much heavier burden of debt and his markets destroyed. While inflation at some stages in the process and at some points appears to correct some of the evils arising dur- ing a period of deflation, the one out- standing characteristic of the movement is that once started it soon becomes { completely out of control and pursues an irresistable course until it collapses. All experience teaches that whatever the earlier appearance may be, all classes are ultimately adversely affected by the process of inflation and even- tually it results in ruin to the economic life of a nation and brings terrible dis- | share aster to all of its people. ‘There is an alternative program, which I have not the space to do more than outline. If I were in a ition to frame a program, it would take scrutiny before being accepted at its|substantially the following form: first, face value. - If the United States were shut oft from the rest of the world so as to be completely self-contained without any outside relationships of any kind, cut- ting the gold content of the dollar in half in and of itself would have no direct effect on the price structure. It must be assumed, therefore, that the rise in domestic is intended to be broyght about indirectly by the rise of prices expressed in terms of dollars of goods sold in world markets. a balanced budget; second, an easy money policy consistently pursued by the principal central banks; third, a definite attack on the debt problem, not by wholesale treatment, but by setting up adequate machinery to deal with different categories of debts; fourth, a settlement of the foreign debt question; fifth, a stabilization of world exchanges by & return in the first instance to the gold standard by the more important commercial and industrial countries; sixth, the lifting of arbitrary trade But no cne can predict with assur- | barris ance that this would happen. Our de- valuation of the dollar would introduce a major disturbing element in the world-wide, disorder of exchanges. I am inclined to believe that what would hu:ppen ]:o\gg be a furthes b e wor ices, accompan: a slight increase in domestic prices, pro- viding other factors were not at once projected into the field. It is not unreasonable to suppose that such action on our parf would pull those countries still on the gold stand- ard off the gold standard; that pres- ent disordered exchanges would be- come more chaotic; that currencies would tend to depreciate either inten- tionally or by necessity still further: that trade barriers would rise still higher; that international trade would become further restricted; that world prices would fall lower, and that the combined effect on world confidence would bring in the train of such de- velopments literally incalculable ca- lamitles. It must not be forgotten that this action would involve a deliberate de- fault on the part of the United States Government on its own obligations, ac- companied by a compulsory default of all those obligations that are payable in gold dollars of the present standard. Repudiation by the United States Gov- ernment, and breach of contracts com- ing at such a time as this, might well destroy the foundation of our entire economic structure and postpone in- definitely all possibility of world re- covery. This is a high price to pay for a problematical and, at best, limited increase in prices. Compulsion of Events. The cases of Italy, Prance and Great Britain cannot be cited as examples. In all three devaluation was brought about by the compulsion of events, and not by deliberate choice. In the first two cases legal enactment represented merely a recognition of an existing state of facts. Moreover, those who so con- fidently claim that debasement of our currency would be followed by a rise in domestic prices can find but cold comfort in the price histo Britain since September, ~ 1931, whereas the gold value of the pound sterling had depreciated from $4.86 to $3.26, as of November, 1932, the index of prices in England was only two points higher than in September, 1931. As T have said, the other main group of plans for increasing prices by cur- rency manipulation contemplate infla- tion brought about .by the piling up of large governmental deficits that can- oot be met through normal borrowing operations, or through the more pow- erful method of resort to the printing and issuance of paper dollars without adequate gold reserve back of them. Under the first of these, the Govern- ment must inevitably resort to the cen- tral banks of issue. They, not acting on their own volition but by Govern- ment compulsion, are driven to provide the basis for a credit increase. Such a procedure was resorted to during the war. In fact, many of our agricultural troubles today are directly traceable to this war-time inflation of prices of ag- ricultural products and land. The best example, however, is fur- nished by the course of events in France after the war. The Prench gov- ernment, faced with recurring deficits, turned to the Bank of France. The government gave its notes to the bank. The bank, in turn, gave its bank notes to the government. out by the government to meet current expenditures. The procedure reduced the value of the franc from 19 cents to 2 cents, and threatened a disas- ter which was only just averted by bringing the inflation under control. Value of U. S. Promise. Under the second and more powerful method of inflation, the United States Government would issue a paper dollar Wwhich would have no value except for the say so of the Government. It will be urged, 3 of the United States Government is worth a great deal. nary circumstances, and when the Gov- ernment conducts its business with pru- dence and in accordance with the dic- tates of sound financial policy. But, if mcypeog‘ le know that greenbacks de- preciated 35 per cent of their face value. They know that the “say so” marks printed by the German govern- ment depreciated from a value of 24 cents to zero. They know that once the United States embarks on this course, United States currency is going at_once to depreciate in value. What would happen? It should be recognized that the bad effects issues would As I understand it, the justification for the latter proposal is based on the claim that the rate of increased valuation of gold tz‘d’:de- creased valuation of goods, or to falling ices. The accuracy of the contention that AIKEN, 8. C., January 23 (#).—Three | of prices place since 1929 cannot be attributed to a gold shortage. The gold reserves of central banks and governments of some 47 countries representing the bulk of the uzmekotmm? Mh“m 920 of Great | Jersey, hoping to speed 2 for | Glass banking Ia soug} promise | and ers. I believe that if these measures were carried through in a broad and con- structive spirit, the stimulus to world economy would be so great that there would be an immediate response in the way of an industrial and commercial expansion and a marked increase in prices accompanied gradually by essen- tial readjustments. . WHEELER TO URGE 16-1 SILVER RATIO Montanan to Offer Bill as Amend- ment to Glass Bank Bill. _— By the Associated Press. Senator Wheeler, Democrat, of Mon- tans, told the Senate today he would | offer his bill to remonetize silver at| the ratio of 16 to 1 with gold as an amendment to the pending Glass bank bill. Wheeler's announcement was after Senators Thomas, Democrat, of Okla- | homa, and Ashurst, Democrat, of Ari- zons, again had demanded currency re- lef. Thomas said Congress had been in session almost two months and had not yet “scratched the surface” of the relief question. Ashurst sald some of the pending would be “helpful,” but the | only cure as he saw it was Wheeler's silver bill. “This would bring back prosperity in | 40 days,” the Arizonan asserted. “If this silver amendment is not placed on this bill, the Senate will not have another chance soon to take up this question. Senator Kean, Republican, of New 1t section by section, but withdrew his request when Senator Glass, Democrat, of Virginia, author of the bill, said he preferred to get the controversial fea- tures out of the way first, PROBLEMS BLOCKING ARMS PACT BARED Points of Disagreement Outweigh Harmonized Views, Report of Association Reveals. By the Associated Press. Points of disagreement between the great world powers outweigh those of agreement after a year of disarmament effort at Geneva it was said today by the Foreign Policy Association in a re- port on the subject. The report, prepared by William T. Stone, Washington representative of the association, summarized the points of t and ent as follows: O eveementa.. Qualitative dissrmament, prohibition of air attacks against civ- ilian populations, prohibition of chem- ical warfare, provisional agreement on control of arms manufacture, budget- ary limitation and supervision, and the principle of equality of rights approved in the five-power declaration as part of “a system which would provide se- curity for all I::tu." — Germany opposing e United States ;::‘ o(t}m“ Britain French sy: se- curity, France and her dependents posing the Hoover plan for direct tary reductions independent of security, Pran British for ce gpodnu direct uctions, and failure to apply it German AVIATRIX TURNS BACK NIAMEY, French West Atrica, Jan- uary 23 (P).—Lady Mary Bailey, African A’gflum took off today for Oran, a. The report that Lady Bailey turned o recross the Sahara north: , cicd highe. foom Tonton to Chpe rom lon I’l’:en. She was missing four days last ‘week I"fl; taking off Ford Recalls 1,000 Men. R, Ontario, January 23 Motor Co., of Canada Wma .—The has called 1,000 men back to work starting today. G_STAR, WASHINGTON, D. C., MONDAY, JANUARY 23, 1933. MONEY INFLATION SALES TAX “CRURL, i B Enactment at This or Next;Senator, SCARE DISCOUNTED Congress Is Declared Ex- tremely Unlikely. BY MARK SULLIVAN. In New York one learns that a not inconsiderable number of persons in the financial community have persuaded themselves that the phase of the de- just ahead of us is likely to express itself in inflation of the cur- rency. A few have put their investments in such form as to get the advantage of inflation if it takes place. A con- siderable number are waiting to see if currency inflation occurs and mean- while keeping their funds liquid, or otherwise mobilizing their affairs so as to move when inflation becomes im- minent. The financial community, over the week end, was rather marked by the flavor of expecting inflation. Well informed Washington does not this view. It is true many infla- tionary measures have been introduced, scores of them. The distance, however, between the introduction of a bill and the enscrollment of it on the statute| bal books is suggested by the fact that in an ordinary Congress the ratio between bills introduced and laws enacted is as a thousand to one. That no currency inflation measure will be enacted before March 4 is abso- lutely sure. President Hoover would veto it and the certainty of the veto discourages promotion of such meas- ures bfl?m becoming ul:!mu Mfir Marc] everything depends on Presi- dent-to-be Roosevelt. It may be said at once that hardly any responsible Democrat believes Roosevelt as party leader would encourage inflation, or as President would fail to veto it. Mr. Roosevelt is on record again and yet again in the most convincing manner. Strong Stand in Platform. The Democratic platform - in last year's campaign contained the strongest indorsement of sound currency ever written in a platform of either party, even in normal times when it was easy to indorse sound money. On top of this are repeated campaign declarations of Mr. Roosevelt to the effect that, as he said at St. Louls October 21, “the obli- gations of the Federal Government,” in- cluding, of course, its currency, “are paramount.” No one, not even those who lack certainty about the continuity of Mr. Roosevelt’s convictions in some other respects, believe he would ever countenance currency inflation. About Mr. Roosevelt's point of view on sound currency, there is indirect but convincing evidence in a detail of his action on Friday about foreign debts. It became known that Mr. Roosevelt wishes these debts to be handled in such 2 manner that as one of the conse- quences Great Britain may get back on the gold standard because that would be to the interest of the United States. A President-to-be who wants Great Britain to get back to the gold stand- | ard does not want the United States to get off it. £ There is further indirect evidence in the well founded rumors that Mr.| Roosevelt would like to have Senator Carter Glass of Virginia to be his Sec- retary of the '.lzz)uurfy.b r&mmtg:nz with any expectation o abou mMnnywouw never want Senator Glass in charge of the Treasury. Senator Glass may not be Secretary of the Treasury. He knows by experience in the Wilson administration the onerous- ness of that office, and realizes that the burdens which were heavy enough when he was 62 would be close to in- tolerable from 75 to 79, as he will be during the next four years. Assurance Against Inflation. Incidentally, Senator Glass’ present occupancy of the post of chairman of the Senate Committee on Finance and Cuermncy is itself an assurance against | inflation. The Germans had much greater chance to pass at Verdun than an inflation bill to get by Senator Glass committee door. Altogether, it may be taken as ex- tremely unlikely that any currency in- fiation measure will be enacted in either this Congress or the next. Other agencies may bring about higher prices including credit inflation which is or- thodox and desired, and including also the operation of natural forces. But currency xnn:‘uon will hardly take America. p‘?i’uu:rue there will be legislation for the relief of debtors, but it will not take the form of inflation. 'n:':, ug{: le type seems headed a {’fiih?sm of action which will facili- tate reduction of debt and compro- mises on debt. soml: measures h?evt'lenlg which are compl o Rx "ana “sound, including _one which has the urgent in nt_of President Hoover, are under way with such momentum as to }mkc enactment before March 4 probable. A very important one, probably the most useful one act that could be passed this session, would permit debtors “unable to meet their debts as they mature” to take sanctuary in the Federal courts. The Federal courts, acting through trustees, would facili- tate and legalize, and to a degree in- sist upon, compromises between debtor and creditor. Among other potént provisions, a compromise made by a majority of the creditors to one debtor, having & majority of the claims, would be binding on the minority. How greatly this would promote the com- position of debts, and the saving of farms and homes to the debtors, as well as the quick reorganization of embar- rassed corporations, is realized by every lawyer. (Copyright, 1933) —_— Peasants are recovering gold from the Balkan tributaries of the Danube by the old method of catching the metal in the wool of a sheepskin. DENTISTRY NEW LOW PRICES A Dental Serv- ice offered you based on lons and successtul ‘xperience. abil- ity and known Feputation, at Dositively the My own’ attention to every patient. | Dr. Vaughan, Dentist 932 F St. N.W. MEt. 9576 Metropolitan _Theater Bullding RAH DECLARES Assailing Presi- dent’s Stand, Says Currency Issue Comes First. By the Associated Press. President Hoover's advocacy of the| i sales tax is a “cruel proposal,” and the i budget never will be balanced except on paper “until we settle the currency proposal,” Senator Borah, Republican, of Idaho, declared yesterday. Borah declared “it is going to be dif- ficult—and I believe impossible—to balance the budget, certainly to keep it balanced, until you balance the budget of the taxpayers.” “Is there any way,” he said, “to bring about the latter until you devise a plan for increasing the prices of com- modities? Is there any way to do that except through reflation through an adjustment of the money problem?” “The question of balancing the budget is again being urged,” Borah said. “I venture the opinion that the budget will not, and cannot, be lanced except on paper, and that briefly, either now or under the in- coming administration, until we settle the currency question. It cannot be done any more than you can build & house upon a receding sandbar. Paper Balance Alone Possible. “With commodity prices near the bottom and still slowly falling, with the purchasing power of the masses near the minimum and still diminishing, with taxes increasing in amount but diminishing in returns, with the value of the dollar depreciating and mort- gages and taxes responding accord- ingly, there is no such thing as| balancing the budget except on paper and temporarily. “The proposal has been made to cut Government expenses $500,000,000. That is a wise proposal. | proposed to raise $500,000,000 by in- | crease of taxes, the sales tax. That is | a cruel proposal in the light of dimin- | ishing profits, falling prices and de- crease of purchasing power. At a time when underconsumption is a malady Which menaces our whole social struc- | ture, there can be no justification for aggravating the malady. “If we cannot stabilize prices, to lay | on & sales tax which strikes at those | least able to pay is to accentuate the fall in prices and discourage and de- | crease purchasing power. We are| traveling in a vicious circle toward | economic collapse. | “In 1929 “he national income was | about $85.200,000,000; in 1932, about $37,500,000,000. Our national income now is about equal to the taxes of the people, city, State and national, to- gether with the interest falling due on | private indebtedness. We have already reached the point when, measured | against interest and taxes, the lncnmek of the Nation is about gero. Losing Foreign and Home Markets. “To put a tax on the poorer people until we have done something to raise and stabilize the prices of commodities is not wise from an economic stand- point, and socially, it is an iniquity. “At the present time we are on the gold standard in this country. The rest of the world, except France, which, owing to certain reasons not necessary to discuss here, does not affect greatly our situation, is on a managed cur- | rency basis. While our dollar climbs in value, their currency is accommo- dated to their economic situation. The Tesult is that we are not only losing our foreign markets, but we are losing our domestic markets. “Important lines of business are ac- tually being closed because they can- not. compete in the markets with the products coming in and deluging our home markets from countries on & cheaper currency “The fish business on the Coast is being Mterally ruined. countries off the gold standard are lit- erally taking over the fish industry. “The farmer also is feeling the effect of the competition in the same way. Other_important lines of industry feel the effect of it. “To talk about balancing the budget and laying on heavier taxes without any accompanying program to meet this situation is to invite further de- pression, further distress, if not some- thing worse. “It is going to be difficult—and I| believe impossible—to balance t.hei budget, certainly to keep it balanced, | until you balance the budget of the ! taxpayers. Is there any way to bring | about the latter until you devise a plan for increasing the prices of commodi- ties? Is there any way to do that ex- cept through reflation, through adjust- ment of the money problem?” President Hoover, in a special mes- sage to Congress last Tuesday. recom- mended a general sales tax blanketing all commodities except food and cheap clothing. He said this was the best| available means of balancing the budget. Pacific . The SSAS S S S S SRASR AR N Men become famous DOES RHEUMATIC AGONY DRIVE YOU CRAZY? lasting Theu- | pains if you are s drugs. | relief from cruel, cri; matic aches and slave to laxative | Medical authorities make no secret of the fact that often sluggish bowels contribute the poisons and acid conditions which result in pain- | ful, swollen, inflamed limbs and joints. You must stop these poisons at the source. You cannot hope to get ppling ‘The Cream of Nujol treatment does this at a cost of only a few cents a day. 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