Evening Star Newspaper, May 5, 1933, Page 4

Takes Day Off HITLER RESTS FROM STREN- UOUS DUTIES. 1 10 TALK POLITICS 3 §chacht Hopes ‘to Inter- - est Roosevelt in-Plight of Germany. BY CONSTANTINE BROWN. Dr. Hjalmar Schacht, president of the fv Reichsbank. who arrives here this aft-| Y erncon as special representative of the | ? German government to discuss with % Precident Roosevelt the international £ eccnomic and political situation,” is not | * only one of the ablest financial experts | in the world, but also a man with a| {&een political sense. { , Heretofore, he was nicknamed by his ¥ griends as “Gloamy Gus,” because of | J his pessimistic outlook on the. world situation. % i Dr. Schacht is mufact not a pessi=! mist, but a realist. “Bver since the end | i SCHACHT SAYS L., CAN SAVE WORLD Pins Hope on America Alone, Declares Reich Envoy, in U. S. for Parley. ___(Continued Prom First Page) ' Jersey City, N. J., where a special train was waiting to take him to Wi 9 The train with Schacht on board left the Baltimore & Ohio station in Jersey City at 7:23 am., Eastern standard time. Schacht was in jovial mood on his arrival and during his quick passage across the harbor.. But eithough he readily. expressed his ad and that of the German people > this cnuntrme declined to discuss any mat- ters which he thought might:come qip in his conversations with the President, Besides Ridde . —he has been ap- of the World Wer he has been préach- | ing that the world is ‘going to face & x\'erv serious crisis, even a_collapse “of the present economic and social struc- {ture. if the line of demarcation between ‘the victorious and the d-feated nsuom‘ ontinues to be maintained. His pre-| dictions have been scoffed at, but to-| day the German financial leader comes | to Washington with the disagreeable {Fatisfaction of being able to tell his| Iiformer crities “I told you so.” | NSees Roosevelt Tomorrow. { The president of the Reichsbank will | ! have his first my with Pr em“ 1 Roosevelt tomorro when he is l\n\'lked o lunch at the Whitg House, > He is expected to tdlg to the Prés- "§dent as frankly as he talked two and hall_years ago to President Hoover. In Dr. Schacht’s opinion, th? -eco- “yiomic problems, such as reduction of ariff barriers, quotas and other trade estrictions, while important, are only ncidental in our present plight. The ain trouble, says the German repre- | ntative, is the very definite division f the world into groups of-enemy pow- Hers, with hatreds and suspicions even iStronger than they existed before the forld War. Unless & change in the te of mind of peoples can be brought #about—and that can be done only ¥ k¥ sincere political co-operation—it will { e of very little use having conferences { "where diplomats talk good will while | "%heir resvective governments act in a Mfish, ultra-nationalistic manuer, both political as well economic actty- | & Belfis ¥3n their pointed by the mayc. as the city’s offi- clal representative to greet Dr. Schacht, the German envoy was met and escorted to his train by Dr. Hans Barchers, Ger- man consul general at Cleveland, who is acting consul general here; Richard Southgate of the State Department, Dr. Rudolph Leithner, consul to the Ger- man embassy at Washington, and others. Special Precautions Taken. Dr. Schacht's party consisted of three other German officials, M. F. Berger, Dr. Carl Nordhoff, and Rudolph Propt | and_Dr. Schacht’s secretary, Johanna ADOLF HITLER, | Stoffmeister. cial precautions were taken by Nazi Chflhcdla!‘ of Germany, wn)klng! lslt.,l(: whenplhe ‘Macom set out at 5 am. over the Bavarian Alps, where he spent | { " sail down the bay. Every person his birthday anniversary at the house | ooty was required to give his name he owns on the Obersalsberg. | and otherwise identify himself. _—Wide World Photo. | " pr " Schacht met newspaper men in 5 | the Deutschland’s social hall. of their demands and thus offset the | «“Gentlemen,” he said smilingly, “I “| people are trying to convince you that impression which Mr. Herriot is re- ported to have made on the President in_connection with this subject. From the economic point of view, the Germans are said to be willing to co-operate with the United States at the London conference. But, Dr. Schacht says, there are cer- tain problems which must be taken into consideration before the breaking down of tariff barriers can be considered. One of the most important of these | questions” is the problem of monetary stabilization. Until 1931, there were two standard currencies on which the whole world fipties i b 'Dr. Schacht does not believe in pal- ! Jlatives. He is somewhat Prussian in | feyngeional trode was transacied either | “his manner. as far as the present prob- | on the dollar or the pound basis. When | 2ems are concerned. He be'ieves in an | Great Britain went off the gold stand- immediate drastic action to eradicate | g4 i the Fall of 1931, the dollar re- the real causes of the world's troubles| mained the only support of interna- Syegardiess as to how pain{ul they ma¥ | tional trade. With America going off be and how many susceptibilities MaY | the gold standard, three weeks 8go, e hu | there is not & single stable currency ' ‘Will Discuss: Politics. |left in’ the world. | Consequently. he ‘intends talking to | Plays Havoc With Trade. !, the President about the political aspects | This is playing havoc with interna- of the world crisis. Dr. Schacht be-|ional trade, and the moment is not Jongs to no political party in his cOun- | far off when trade may cease to be| try but he is a Nationalist inasmuch | transacted altogether. A typical ex- he considers the Versailles treaty | ample is given: A wheat exporter in t because it | Adelaide, Australia, wanted to send & e of keeping | cargo of wheat to an importer in Ham- ervitude. He | burg, any. | the President | Untilrecently the .wheat was sold | other nations | on the doMar basis. Now, witlr the dol- her po- | lar fluctuating dally, the exporter can-| not quote & price uny longer and the | importer ¢annot buy. because there is| no way «of establishing a_price which | will remain the same while the wheat ,French, the British and the Italian is on the high seas. | Lpoint, of view on this subject. ‘Tomor- \ Consequently. it is necessary to find | 1TFow he will hear the expression of the | some way of establishing as soon s it !¢ German government. Dr. Schacht is | is practically possible a stable currency. !* autherized by his government to tell | Nobody, it is said, cares whether the | | Mr. Roosevelt that his country is will- | gold coverage of the currencies is what . ing to join the other nations in an it used to be in the past. On the con- effort to_ bring the Geneva disar trary, most of the foreign nations are ment conference to & successful ending; [dn favor of a drastie reduction of the provided that Germany is not placed in | quantity of gold for the covering of an inferior position fo the other nations. | international currencies. | The German government maintains | But it is essential that they should | that 1t js disarmed—a moot question |be stabilized at whatcver rate may be hotly disputed by the former allies. | fiund possible, and this as soon as| The German government sticks to this possible. assertion and demands that either all| The tariff truce. on which the admin- {\3the other nations. reduce their armed | stration seems to pluce such great 1™ forces to the present German standard— | importance, is considered by the Ger- | “that is to say, reduce their effectives to | mans as a useful gesture indicating the ¥what Germsny has today. and abolish | good intentions on the part of the | {¥thoss war Instruments. such as heavy Dations which will attend the World | {+'guns, tanks and military aviation—or Economic Conference. In that light. ? that Germany should be given the right | there is no doubt that the Germans will | !“t0 build herself the war machinery the | do their best to co-operate With the ‘other nations possess. The Germans. | United States. ‘it is said. do not ask for parity in Pays $20,000,000 Monthly, armaments, but for equality. This means that they want the right to con- A far as Germany 1is concerned struct what is forbidden in the Ver- directly, Dr. Schacht will take up the' sailles treaty. question of short-term credits, : g | "For the time being, Germany pays an Willing to Co-operate. { average of $20,000,000 a month to the Without such an equality, the -Ger- |creditor nations. Consequently she is! mans say, it will be useless to fry to compelled to sell at whatever price she obtain a satisfactory conclusion of the céin in order to meet these obligations. Geneva conference. |~ 'The German government has been It is, of course, not in the power of | urging the creditor nations to transform the President to tell the nations assem- | these short-term credits into long-term | bled at Geneva what to do. But the | ones, with the dual object of relieving Germans hope to impress Mr, Roosevelt | her financial burdens and also of ob- with the importance and righteousness taining further credits and thus in- | trade was based. One was the dollar and the other pound sterling. All in- R as a damaging docun was made with the pu Germany in a continual will endeavor to persuas of the necessity of the permitting Germany to reswume ‘sition in the world on a fooling of ab- solute economic, political and military equality Until now the President has heard the have no written statement. I hate writ- ten statements and I knpow you didn't get up so early to get one. “Pirst, I want to express my sincere thanks for the kind welcome. As you know, I have been invited to come for informal conversations with your Pres- ident in preparation for the Economic Conference in London. I gladly ac- cepted. “I am ordered by my chancellor to bring his warmest regards and to ex- press his admiration for the courage with which your President is approach- ing the world's problems. It is a fine thing that the United States is taking the lead. Weo think that you are the | only people who can solve the world's problems.” Jewish Question Brought Up. He speech that he would welcome ques- tions. “How does the stand?” he was asked. “As bad as the others,” he laughed, “perhaps a bit worse.” “Will there be an adjustment of pri- vate debts in Germany?” was another question. “I am glad you talked about adjust- ment,” he said. “I thought they had to Le paid.” Later he declared: g “Private debts are private debts and think they must be paid.” He lost some of his joviality when one of the interviewers mentioned “al- 3Pged.nu(rages in Germany against the ews.” “1 haven't noticed any outrages,” he said. ‘The subject was quickly changed and Dr. Schacht was asked about the pos- sibility of a dual currency in Germany. “There is no intention of dual cur- rency in official circles.” he. replied. Hopes for Understanding. He said he had no intignation that France would go off the goMd standard, but he declined to discuss the monetary status of America since it was a ques- German budget I creasing her purchasing power, as soon as the wheels of the world's economic machinery are set working again. Un- less such an agreement can be reached there is a real danger that Germany, with the increased trading difficulties which exist today in the world, will not be able to meet her obligations much longer. The total Américan investments in Germany amount to some $2,500.- 000,000, of which a good pertion is in short-term credits. Fifth National Orchid Exihibition of the American Orchid Society May 5, from 5 to 10 PM. May 6, from 9 AM. to 10 P.M. May 7, from 9 AM. to 10 P.M. at Longwood—Kennett Square, Pennsylvanis. The Estate of Mrs. Pierre 8. du Pont Day, 50 Cents;. Evenin Sale Extraordinary " Our Stock of Fine Clothes, Hats and Furnishings must be sold New Spring Suits—Greys, Tans, Fawns, Brown in plain and basket weaves—All the Latest and Newest , and the New Blue Steel effects, Fabrics and Colors — Glen Plaids in all variations—all made by the world famous tailors. ROGERS PEeT CO . of NEW YORK SCHLOSS BROS. & CO. «samiore at tremendous reductions SUITS and Topcoats made to sell at $30 and $35......... SUITS and Topcoats made to sell at $35 and $40....... SUITS and Topcoats made to sell at $45 and $30........ Broadcloth Shirts, SALE PRICE, $1.00 Hand Made Ties, Sale Price, 45¢ Ezerything That Men Require .. Sale Price, $14.75 .. Sale Price, $16.85 .. Sale Price, $22.35 Prices That We Are Confident You Will Never See Again Pajamas, SALE PRICE, $1.00 Fine Silk Ties, 95¢ indicated following this brief | tion that might be dealt with in Wash- “What do you hope to accomplish in gton?” he was asked. “I hope to accomplish an under- mdlngdwlr.h the American President,” he replied. N 2 After he was taken aboard the Macon he was asked to discuss inflation in the light of his experience in his own ecountry. He declined, but he added that “if my advice is sought in any way in Washington I shall be glad to extend it.” He was asked then if he would dis- S\mt monetary theories with the Presi- lent. “I do not engage in theories,” he re- plied. “I am not an expert in cur- rency. All I do is keep money stable.” Makes Brief Speech. After talking with newspaper men on the Deutschland and answering their questions Dr. Schacht made a briet formal speech in which he said that “Americans won the war; they have to make the peace.” “The last time I came over, two and a half years ago,” he said, “I had the ad- luck of telling you a good many hings which many of you were not eased to listen to, but which very proved to be true. ‘Well, I can- not act against my nature. Therefore, 1f you ‘will allow me, I am going to say some. more triiths; ‘maybe they will be | received this time with less criticism because of the experiences We have meanwhile been through. ““The first truth is that there is more hope this time for our making headway | in overcoming the world’s crisi§ because you people have taken the initiative. Let me put it in a few plain words. ‘The Americans won the war; they have to make the peace. “The second truth is this: Many the present economic crisis is based cn economic reasons. Don't.you be-| lieve them. Our crisis is a moral one Economic wellbeing will only return | if & fair chance is given to everybody. | Instead, all forces are used to keep | down the defeated. He is asked to pay, | but not allowed to earn. Sees Two Ways Out. “And here is a certain truth: Don't| try to cure the disease at the symptom. Remove the causes. Monetary changes, | tariff machinery and similar methods may ease the feeling for a while, but more is needed. “There are two ways out. One is separation from each other, leading to lower standards of living. The other is international co-operation for open- | ing up new markets. Here is our choice—separation and poverty, or co- operation and prosperity. “I know I could have been more pleasing in addressing you, but I don't| think I would have been more helpful. | Be sure that I appreciate all the able | and noble qualities of the American | people, but I did not come to flatter you. I came to be helpful.” TARIFF TRUCE DISCUSSED. Italian Representative Ends Parleys With U. S. Experts Today, By the Associated Press, tives were tavited to.luncheon as guests | T () L£]()) of Secretary Hull y. In the after-: i ¢ noon, Ambassador Felipe Espil arran, v a reception at the embassy for \ Tomas A. Le Breton, ArgentinA's Am- v o of the London Economic . Conference June 12, the success'of which Mr. German spokesman, who arrives during the day to present his country's view- Treservations. Another cause of considerable con-|in ‘e Far East. < Political problems, chiefiy \-evolying | bassador to Paris, who has been spoke: Despite the fact its path was not smooth, the administration is driving B, :hndbvevzm its plan Xg-:hwofld tariff) | o0, . e ruce between now .and-the conveuing kii‘ . : ii to Seek Views of U. S. Roosevelt 1s seeking so earnestly to| . ini iom e . gy on Participation in Con- ‘The tariff truce proposal was one of}:-, ’ the points in the discussions today with'| “* P Italian and_ Argentine envoys. ¥ sultative Pagt. figure in the conversations with the t. TOKIO,- May 5.—Viscount Kukijjro ‘Whether or not because of fear that| yshij veteran of many diplomatic the doll decline _considerabl: 5 DISEYE, 003 under tHe 'adminisiration's ~ inflatio | COUNLTS, sailed yesterday to speak for pol::yirlu’rmt_:e has m‘:ge‘ its approval oz Japan in the Washington Conversations, suc ce Upon conditions and Great |in which he will seek to Ameri Britain likewise gave its acceptance with n.u:nt cw ;‘p‘m:e pollc;m:‘;( ptlm:; éecture :.s to possible heflest on the Lon- lon conference was the adverse reaction 1 indicated in several foreign countries ‘;"“"" fhe. sluion & Manchajwin s | to the American refusal, under its gold [ 'h¢ Japancse conquest of Manchuria, | embargo, to meet its gold payments of | Wit frm the su Jec! ok e discussions interest on Government bonds held | Gl RS ’E“’mm‘ - T .‘fg:n:w’::fl‘ Other factors having a bearing on the situation and tending to complicate it, in the opinion of some officials here, are the negotiation of bilateral tariff treaties by Great Britaln and the in- creasing of the British fund for main- ;nlnlinx the pound at a predetermined evel. % The determined stand by the admin- istration to forbid any gold exports— even on interest payments of Govern- ment bonds—is regarded in some quar- ters as part of the Anglo-American game now progressing te determine the | levels of the dollar and the pound in foreign exchange. These levels are sought as a prelimi- nary to an agreement between the two countries' establishing a fixed ratio be- tween the pound and the dollar. It is believed at the Capital that a British-American agreement on money may well be reached before the London Economic Conference begins, and that a relaxation in the drastic American gold ship at Yokahama, Japan’s desire to be regarded as the | champion of peace in the Orient will be | explained to the American President by | the Japanese special envoy, who will | urge that the Washington Government give recognition to the new State of | Manchukyo, | Views on Pact Sought. Viscount Ishil, co-author of the | 1 Ishii-Lansing agreement of 1917, re- | garding Manchurian policy, wil seek at Washington to obtain a clear exposi- tion of the President’s views on pro- posals for developing the Kellogg pact into a means of concerting action against an aggressor. St Since Japan has. been ‘designated as aggressor in the Sino-Japanese dispute by the League of Nations, the Tokio government has an especial interest in | 8 By the Assoclated Press. Guido Jung, Italian finance minister, began his final day of conversations with American officials at a conference |in the State Department today with | Secretary Hull, Breckinridge Long. the new American Ambassador to Italy: Herbert Feis, economic advisor to the| }sme Department, and several other | American experts. The Italian Ambassador, Augusto | Rosso, was the only other Italian in | the conference. | ~"conversations later In the day with President Roosevelt at the White House are scheduled for tne Italians. For the Argentine representatives here, only one more general conferencg with American officials was plannedg| and it was not definite whether thy | would take place today or tomorrow. | | The Italian and Argentine representss of 1325 harmony! started a lot of things in SE — TROUSER L] match SAYS: GROSNER I'll match you in newness! I'll match you in value! wouldn’t be a bit surprised if you'll be seeing other stores get on the band wagon before long! matched in the NASSAU for instance: — COAT — worsted gabardine, pinchback drape model, semi-peak lapel. — WAISTCOAT — worsted tattersall check. all worsted glen slack. COAT—VEST—TROUSERS en}xlzhflrm; witl er;'ue. e fourth of the big na- tions to be represented hm its appearance today with the arrival of Dr. Hjalmar Schacht, president of the Reichsbank. The finance ministers of China and Mexico are close behind with n, Brazil and probably Chile to follow later in the month. GO BOOKS SEIZED mnmnmmg CHICAGO BOO IN VIGILANTE CAMPAIGN Former Minister Renews Battle Against Storekeeper Who “Broke His Promise.” By the Associated Press. CHICAGO, May 5.—The shelves of Seymour de Koven's book store were lighter by several score volumes today and he faced arraignment on charges preferred by a divinity student to whom he sold a copy of a book said to be vulgar. | The arrest last night marked a re-! newal of a campaign against De Koven by Phillip Yarrow, former minister and head of the Illinols Vigilance Associa- ton. “Two years ago I had De Koven arrested for selling indecent literature,” the vigilante said. “He promised he wouldn't sell any more and I pleaded to have him discharged. This is how he repaid me."” De Koven engaged Attorney Cameron | Latter, who once represented another | bookseller and obtained a $5,000 judg- ent against Yarrow. BOSTONIAN SHOES o " F Street I'll match you in Grosner has this good town—and we country. Pprices are ts { i i lans for & consultati , and uy plebe G € plkdtrs it sod | it. “This is of the utmost importance to Japan,” the Japanese delegate said be- fore departing. “We are still ignorant about what has been done. “In view of recent- history, obviously Japan must proceed with the utmosi caution.” Insists cn Safeguards. In accepting any new peace arrange- ment, other cfiiclals here said, Japan's right to maintain adequate defense forces must be safeguarded. Special considers herself menaged by two hostile neighbors, China and ;Russia, make it necessary that Toklo give careful study to mly proposal for a consultative ‘ngree~ ‘ment. Viscount Ishil was acccmpanied by Eigo Fukal, vice governor of the ‘Bank i | of Japan, and seven advisers and secre- tarfes. Mr. Fukai will be Japan's chief spaiiesman in aiscussims of economic problems at Washington. ‘The Jrpanese mission is going to Washington prepared to combat the “anti-Japanese representations” of the Chinese delegation, which will be in conditions in the Emm, where Japan Washington two weeks in advance of it. ‘The Morris Plan Bank offers the INDIVIDUAL the facilities of a SAVINGS BANK with the added feature of offering a plan to make loans on a practical basis, which enables the borrower to liquidate his ob- ligation by means of weekly, semi. monthly or monthlydeposits. It is not neces- sary to have had an account at this Bank in order to borrow. The BANK for the INDIVIDUAL Loans are pass ed within a day or two after filing application— with few excep- tions, MORRIS PLAN notes are usually made for 1 year, though they may be given for any period of from 3 to 12 months. MORRIS PLAN BANK 1408 H Street N. W.; Under Supervision U. S. Treasury Washington, D. C. ®Oharacter and Earning Power Are the Basis of Credi¢® 1319-21 F Street TheoumgMlens Shap STETSON HATS E'REALL ENTHUSIASM -about this St. Albans Value! Our response to previous announcements of this event proves that men seem to feel the same way about these suits as we do— that here is a good thing that can’t last. And they're right, too, considering that wool prices have advanced so high throughout the Take a tip—and buy while our the lowest since 1912. Remember, you’ll find the famous St. Albans label in every suit—and that means you'll find complete satisfaction. New Glen Urquhart Plaids, shadow and chalk stripes and blue serges! 340 St. Albans UITS REDUCED FOR QUICK CLEARANCE 16" '“ i , $1.95, $2.95, $3.95 i Fine Felt Hats, $1.95, $2.95, §. { EXTRA TROUSERS, $3.25 SIZES TO FIT MEN OF EVERY BUILD at Bargain Prices Shorts and Undershirts, 29¢c ea. 29 Others, $15 and $35 A 00T OB OO D1 OO0 DO OOO AT O DARE 00O BORELEL DTN AT OO LTI TR LG TN OO TN EEO0000000 OO MO OO L Why not look—it costs you nothing M The Bond Street’ . The Deal ~ 'GROSNER of 1325 F Serees S , No cw for Alterations! 1331 F ot i ety