Evening Star Newspaper, June 16, 1935, Page 37

REICH RETURN TO LEAGUE BEFORE OCTOBER IS SEEN Negotiations Already Under Way Offi- cially and Semi-Se cretly for Bringing Germany Back to Geneva. BY ALBIN E. JOHNSON. ENEVA, Switzerland—Negoti- ations which are under way, both officially and semi- secretly, for bringing Ger- meny back into the orbit of international co-operation, which still centers around the somewhat distorted League Covenant, are al- most certain to result in Berlins re- turn to Geneva, perhaps before next October. Prom sources which must be taken seriously, it is learned that, barring unforeseen and unanticipated political and diplomatic complica- tions, Germany will not allow her two-year period of notification, which expires the middle of October, to pass without a serious move toward re- conciliation with Geneva. France, Great Britain and Russia will like- wise attempt to smooth the way for Germany’s return, Nazis or no Nazis. During the past few weeks—since the council resolution and Hitler’s reply to Geneva's condemnation— both political and economic forces have been definitely narrowing the fleld of disagreement between Ger- many end the ex-allies. Germdn re- armament is now a fait accompli; for the time being disarmament is a dead letter. The system of “col- lective security” demanded by the French as a result of the Nazi's bolt from the league 18 months ago, has been advanced as far as is possible without the participation of Germany. ‘The “ring of steel” around the Third Reich—France, Italy, the Pe- tite Entente, Poland and Belgium, with Great Britain and Soviet Rus- sia in reserve, is as strongly welded as it will ever be under existing cir- cumstances. Italy is the weakest link, with Poland the next weakest. But the interests of these two countries— in _Austrian independence and the Polish Corridor —are inextricably bound up with the ex-allies rather than with Germany. Two Possibilities Ahead. With the drift toward hostilities, which was pronounced the past Spring, definitely halted, there are two possibilities ahead of Europe. Either the intensification of the arm- ament’s race and inevitably war or internal difficulties due to the heavy taxation, or a gradual liquidation or appeasement of the outstanding po- litical disagreements and a return to the pre-depression normalcy of the Briand - Stresemann - Chamberlain period. The French, convinced now that they “missed the train” in not being generous to Gustav Stresemann, Bruening and Curtius, in the difficult days of the German Republic, are not likely to make the same mistake again. ‘They have consistently spurned the outstretched hand of Hitler and his Nazis, but now that they have him *“on the ropes” they can be expected to | seize the psychological moment to be conciliatory. From a diplomatic, as| well as economic standpoint, it is im- perative for Hitler to obtain a rap- prochement with France; for the French an “understanding” is equally desirable in view of their difficult in- ternal political and economic situa- tion. Once France and Germany have composed their differences, it will be easy to adjust matters with the other wers. Foreign Minister Laval, after his| visits to Rome, London, Warsaw, Prague and Moscow, waited for Hit- ler's reaction. It came—after much forethought on the part of the Wil- helmstrasse—with the enunciation of | the “thirteen points.” Now the French, who are the hub of the ex-allied grou) have begun seriously exploring the pos- sibilities of what Laval chooses to call an “arrangement” with Berlin. Laval has none of the political inhibitions of his unfortunate predecessor, the murdered Louis Barthou. He will ne- gotiate with the Devil himself if nec- essary to obtain what France consid- ers an adequie security. His pacts with Fascist Italy and Soviet Russia on one hand and the understanding with the British have been charac- terized as an appeal to policemen and gangsters for protection. They show the length to which the French can, and will, go to assure maintenance of the European territorial status quo and Ppeace. Laval’s Plans Are Vague. ‘What Laval has up his sleeve in re- spect to an “arrangement” with the Nazis is still a bit vague. But one thing that is certain is that his is not an exclusive “Laval policy.” It repre- sents the long-range program of the general staff, the Quai d'Orsay or foreign office, the Comite des Forges and PFrench industrial interests and the great mass of the French people themselves, including the powerful Ancien Combattants organizations, which have never had a great deal of difficulty in getting together with the German National Socialists. Another thing that can be taken for granted is that any “arrangement” will be predicated upon Germany's return to Geneva, Laval may pass out of the picture as & result of cabinet crises before the Summer is over,. but the undercover negotiations will on. ‘They may even be out in the open by the time this is printed. So fer as Germanv is concerned the recent Council resolution at Ge- neva, denouncing her as a (reaty- breaker, is “water unaer the bridge.” schedules, influenced only by internal economic obstacles. The Stresa dis- cussions and the ‘Geneva declaration psychology in the iest ot Europe. The importance of the League’s action, however, has been underestimated. It a “safety valve” for French dampened the powder which was scat- around the Balkans after King Alexander's assassination. On the retion at face value.. It is not hard to do because Berlin cannot very well make any further changes in the peace pact—eliminate the Polish Cor- wig Holstein or her colonies, or fortify the demilitarized zone—without in- curring the risk of war. Germany does not want to avoid war, either now or in the ruture, any more than does Great Britain, France or Soviet Russia. But the Nazis have rot re- nounced their cemands for further revisions of Versailles; they have merely admitted that revision through force is impossible and undssirable Zor the time being. They are willing to have recourse to peaceful pro- cecures or patiently await “Der Tag.” That is where the present move- men* toward an “arrangement” is significant. to Geneva she will not worrv the League any furtner about its unful- filled disarmament obligations. But she will raise the question of erticle 19, which provides for “rectification of treaties which are no longer equi- table and which may lead to wars.” Article 19 has oeen carefully kept in *he background largely because the succession states did not want i give in to Hungary, Austria and Bulgaria. The Chinese ricd unsuccesstvlly to ers when they decnounced the “un- equal treaties.” If the ex-allies agree to give article 19 life, the Germans will find their way back to Geneva in short order. Before October 15 it is predicted. The question of German “equality of rights” politically and militarily, can be considered as settled. That is one positive accomplishment of the Hitler regime. Only through a resumption of the Reduction and Limitation of Armaments Conference’s negotiations can the German armaments question be reopened at Geneva. Berlin in- stinctively and with good reason, dis- trusts the rrench blo¢ at Geneva and will seek an wgrecment with England and France—through bilateral nego- tiations, on land, air and naval forces. Time Ripe for Conciliation. Statesmen here and in Paris and London, who have been keeping their | ears to the ground and their eyes fixed | on political realities, are now privately saying that the time is ripe for con- ciliation moves from both sides. The | Nazis have repeatedly held out their | hand to France and Great Britain— and turned their backs upon Moscow. | Now their attitude toward the Rus- | sians is softening. The die-hards in | France and England are steadily losing ground. Reactionaries still place no faith in German professions of peace- ful intentions and many diplomats | hold similar views. But the political | set-up in Europe, against Germany, has reached a point where there is | nothing to be gained by continuing to | ignore Hitler. Likewise, little, if any- | thing, would be lost by putting Nazi sincerity to a test. If Hitler's fingers are crossed the French will be no lesss “secure” than they now are, because | any negotiations undertaken will be based upon the maintenance of the “common front,” collective security {and and the ex-allies keeping several jumps ahead of the Germans in the armaments race. That is, unless Ger- many makes commensurate con- | cessions. As for the Nazis, there is a definite limit to their rearmament program. | That limit, economically and finan- | cially, has about been reached, accord- ing to Dr. Hjalmar Schacht, minister of economy. British and French of- ficials accept this as a fact. Far from improving the international political and internal economic situation, Ger- many has been going from bad to worse. A “plebiscite” these days, it is said, would not be flattering to Hitler. It is admitted that the Nazi govern- ment can continue “muddling along” for an indeterminate period, but the political, economic and social conse- quences will be dangerous. Germany needs stabilization in Europe more than anything else if she is to preserve what she has already gained. With the Saar problem out of the way, the Austrian Anschluss shelved or rather left to evolution in Vienna, the fortification of the demilitarized zone of no immediate importance and fraught with considerable external dangers if rushed, Hitler now has to concentrate on works of peace and re- construction if he hopes to maintain his hold on the German masses. That means more jobs, stable currency, ex- panding trade and social reforms. Jew- baiting and flaunting the spectre of Bolshevism have lost their potency and the crusade against the Catholic and Protestant Churches is very un- popular. The German people—like the French and British—want peace and a chance to live, work and prosper. The only way Hitler can get this is through a working arangement with the French, as well as his other neigh- bors. France's ability to weather the deepening crisis also is bound up with her relationship with Germany. Only Fascist Italy remains bellicose and in the long run Mussolini does not count for much internationally. Susceptibilities Dull Quickly. Another favorable sign these days is the ease with which national amour propre is assigned. Yugoslavia was bitterly injured when King Alexander was assassinated; Germany was stung by the Stresa and Geneva declarations; France was greatly excited over Ber- lin’s rearmament program. But na- tional susceptibilities dull quickly. Spain once left the League and came back at the first invitation; Russia has forgotten most of her hatred of capitalists since consorting with their governments at Geneva. If the League Assembly invites Berlin, with bended knee if necessary, to “come back” the chances are that the Nazis would snatch at the opportunity. Even Japan would come back to the League tomorrow—forgetting the denuncia- tions of three years ago—if the ques- tion of Manchukuo’s recognition could thanks | be bridged. One significant development which is noticeable is the silence of anti-Nazi refugees domiciled in France. The Also, according to authoritative re- , & “formula” has been found she will never sign a pact which might mean that she would have to come to the assistance of Bolshevists. France and Czechoslovakia, on the other hand, have concluded bi-lateral and identical mutual treaties i 4 < ridor. regain Eupen, Malmedy, &chlez- |.. If Germany comes back |- invoke it against {he British and oth- | THE SUNDAY STAR, WASHINGTON, D. C, JUNE 16, 1935—PART TWO. osts of the Highway New Major Industry, the Tourist Camp, Sprouts on Roads of America—There Are 32,000 Now. UPPER LEFT: AN ATTRACTIVE MOTORIST “CAMP” IN FLORDIA. UPPER RIGHT: THE AUTHOR AT MESA VERDE NA. TIONAL PARK, COLORADO. BY JOHN J. McCARTHY. VERY now and then some ca- lamity howler adds to general pessimism by shouting long and loud that there is no longer any golden opportunity in America. The older industries have reached the point of saturation and there is no hope whatsoever for a new industry. The peak of American business has been reached. Net re- sult: General pessimism increases and general business decreases a little more. Plenty of pertinent evidence shows there is much fallacy in this argument. In this article-we will tell about one case which proves absolutely the contrary. Out of the throes of the depression has arisen a new and major industry rendering a real service to more than 30,000,000 annually and enjoying & yearly revenue of more than $500,- 000,000. This gigantic, depression- built industry is known as the Tourist Camps and Cottage Establishments and caters to the millions and millions of motor tourists who during the last few depression years have literally swarmed the highways and by-ways of America. Furthermore, this new industry, un- like miniature golf or chain letters, is | stay longer. The motor tourist camp | started yet. For evidence, they point | | to the industry’s amazing Topsy-like | no passing depression fad. to stay. Consider its size. A recent authoritative survey indicates that there are more than 32,000 of these tourist camps and cottage establish- ments in the United States. Of these, 14,000 are of a representative type operating 10 cottages or more, with an estimated valuation of $20,000 each. Their total valuation is set at $250,- 000,000, with more than 300,000 cot- tages and 450,000 beds. In the short span of five depression years, these tourist camps and cottage establishments have become a major industry with their own co-operative trade association, their own trade papers—namely, the Motor Guest and the Roadside Merchant—and even their own N. R. A. code. In get- ting together for the purpose of draft- ing an N. R. A. code in February, 1934, the hosts of the highway formed the National Tourist Lodge and Motor Court Trade Association. J. C. Stev- ens, Phoenix Cottages, Jacksonville, Fla., and Robert Stuart, Blue Bonnet Courts, Houston, Tex., were elected president and secretary, respectively. | During the last year this association has been functioning to the extent of initiating co-operative measures among the various camp owners, attempting to establish standard trade practices affecting rates, wages of employes and the buying of supplies. Reason for Slow Progress. The association’s progress in such matters has been slow. That is largely because the tourist camp is unique among American industries. It is al- most 100 per cent independently owned; no sizable chains—not even any voluntary association ownership. Practically the only exception to this | is a string of camps in the Middle West owned by a major petroleum company. . ‘Today you will find these touris cottage establishments upon every main highway from Maine to Wash- ington, from Florida to California. Even in the populous East their trick signs signal you repeatedly along the Boston Post road and Lincoln High- way. However, it is west of the Miss- issippi,. especially in Minnesota, Col- orado and California, that these camps are at their very best. Here the highway hosts do themselves proud in providing accommodations for motoring guests. In California, particularly, tourist camps are year- Tound propositions and are accepted as one of the worthwhile attractions of motoring. In the Annual Official Directory published by the American Automo- bile Association, Ohio, Illinois, Texas, Arizona and Montana are well repre- sented with a good number of fine camps. In the East, Maine and upper New York State shine with a long list of modern, elaborate establish- ments. With the exception of Flor- ida, the South has been slow in pro- viding de luxe villas for motorists. Not only are the representative tourist camps and cottage establish- ments complete in bed and board facilities, but recent surveys reveal that more than 70 per cent of them also have on the premises well-stocked retail grocery stores, soda fountains, restaurants and oil and gas stations. Seventy-five per cent of them are open the year round, So large are many of these tourist camps that they are little villages in themselves, ls, | interests, sometimes with the back- It's here | mood, you can also remember that there was a distinct change of senti- | ment in the Summer of 1930. People still wanted to travel, but not at the $7 per day schedule. The Smiths, the Boyles, the Johnsons and the De Solas quickly discovered that if they | could travel further, see more and | boom was on. | And the boom has continued be- | cause the depression bred millions of wandering _motor | whose members were forced to take | long vacations without pay; persons | out of work who found it cheaper to | motor tour than pay rent: the newly- | spend on a honeymoon. Thanks to the tourist camps, these wandering millions have been able to | iget a taste of this almost-next-to- nature life at the cost of a dollar or two a night. They like it. Conse- | quently, even should prosperity return “HOME” FOR A NIGHT. o and jobs become plentiful, these mil- lions will remember the lure of the motor trail, the pleasant, inexpensive stopovers at these tourist camps— and they will continue to patronize them. That’s why some observers venture watched their nickels and dimes, they f to state that the real boom in the | tourist camp industry has not even growth since 1930. The first official notice of the exist- tourists—families | cace of the motor tourist camp was | in 1922, when the Chamber of Com- merce published a bulletin to the effect that there were 1,000 of them. These ploneer camps were either married with little or no money to | owned or supervised by local cham- | | bers of commerce or civic organiza- | tions. By 1926 there were about 2,000 tourist camps—a sufficient number for the Department of Agriculture to send out a bulletin telling farmers that | these camps offered a chance for them BY GASTON NERVAL. HERE is comforting news for advocates of inter-American trade in the reports which come from the other side of the Rio Grande announcing that the United States has recaptured its lost leadership in the South Amer- | ican markets. For the last six years the United States not only had lost the leader- ship, but, comparatively speaking, had suffered more than any other large supplier of the South Americans. While the decrease in South Amer- ica’s total import trade during the depression was 65 per cent, the im- ports from the United States de- creased by 82 per cent. And even after the worst of the depression was over and business began to im- prove the total! import trade of South America increased by 27 per cent in 1933, but the imports from the United States increased only by 15 per cent.; In that same period imports from Great Britain increased by 32 per cent and large gains by German and | Japanese exporters' were also an- nounced. Clearly, there was something else | than the general business decline, | brought about by the depression, to account for this unprecedented fall of | inter-American trade to a level in-' ferior even to that of pre-war days. | The slogah made popular by the, Argentine minister of finances, “Buy from those who buy from us,” gives the best clue to the situation. U. 8. Tariffs Criticized. The South Americans had com- plained for years against the highly protective, almost prohibitory tariff walls which were in favor, until not long ago, in the United States. They had criticized the lack of interest of their northern neighbors in removing 1 barriers to trade. They had, m r, resented the high-handed- ness and the paternalistic tone in which they were usually addressed by the representatives of United States ing of the State Department. When the Hawley-Smoot tariff act went into effect a few years ago, formal writtep representations reached Washington from more than one Southern capital. And in the months which followed, mercial policies were precipitating. It was not at all surprising, there- | truly startl | from the United States increased four U. S. ONCE MORE LEADS SOUTH AMERICAN TRADE| Decrease of Last Six Years Overcome, | Pendulum Swings Back and Commerce Climbs Again. is eloquently confirmed by the 1934 statistics of inter-American trade, subject of this comment. Last year, the circumstances having changed, | the United States not only recaptured | its leadership in the South American market, but the percentage in the increase of its sales to South Ameri- can nations was almost twice as large as that of all the other sup- pliers of, the Southern continent. Whereas the 10 South American republics increased their total imports from $576,000.000 in 1933 to $705.- 000.000 in 1934, an increase of 22 per cent, their imports from the United States increased in the same period by 41 per cent. On the other hand, their imports from Great Britain, which had held first place in 1933, increased by only 18 per cent. The same may be said of imports from Germany, | Prance and Italy, which Increased slightly in comparison with the gains made by the United States. The details of such gains, disciosed by recently published statistics, are ing. Argentina’s imports times faster than the country’s total import trade. Chile increased its im- ports by 33 per cent, but its pur- chases from the United States in- creased by 70 per cent. Those of Ecuador increased by 113 per cemt. Uruguay, through a series of laws and regulations to protect credit and for- eign exchange, maneged to hold the total imports down to an increase of only 1% per cent, but the imports from the United States increased, nevertheless, by 70 per cent. Purchases Account for Gain. It is true that the steady improve- ment of business in general through- out the Continent, with & n:en;ul o; purchasing power and of the deman for imported merchandise, must be taken into consideration to account for last year's recovery in inter- American trade. But that does not explain the wide differences in the increases which correspond to the various major powers competing for the South American markets. The depreciation of the dollar may be ad- duced ‘as favoring the position of the United States, but that advantage was also shared by its nearest rival, for the pound has also depreciated. The most reasonable explanation of the remarkable comeback of inter- \nd | American trade in 1934 is the sub- A ELABORATE QUARTERS OFFERED IN TEXAS. to make a little extra cash. By that time, the farmer already knew too well what Washington was starting to tell him. Hadn't he noticed how many more cars were rolling by his place nowadays? Wasn't he being repeatedly asked about whether “a room for the night” could be had? He was either already in the “guest cabin” business -or was planning to get into it as soon as he could lay his hands upon enough spare lumber. | Incidentally, more and more farmers are going into the tourist camp busi- ness every year. They have seen how their neighbors, through the erection of a few log cabins, have managed to | pay off the mortgage. meet their taxes and keep up their business, besides having a good time greeting and | chatting with city folks every day. | Of course, the modern tourist camp | actually dates back to the days of the | “Tin Canners”—those hardy, cross- country motoring pioneers who carried their own camp equipment and food supplies and tried to see how many miles they could roll up on their speedometers before nightfall. These were of the 1919 and 1920 vintage. Local Activities Result. This type of motorist muitiplied to such an extent that local communities, to safeguard their swards. in the local parks, were forced to provide camp sites. Usually they were dismal, dank dumps with a few hydrants and not very much parking space. Motorists were always squabbling over the cov- eted spaces near the water supply, littering the ground with garbage and building promiscous fires. City fathers spent many sleepless nights keeping their weather eyes peeled for what the latest batch of motor tourists were up | to. Today the city camp site is prac- | tically extinct. The tourist camp and | cottage establishment, with low rates, convenience and comfort, has taken its place. “This cottage camp ides,” & Kansas roadside boniface explained to me, “really started right after the war when the boys came back from the Army and wanted to show their fami- lies what fun there was in camping | out. It might have been fun in the | Army when you had nothing eise to do. | “However, the ex-doughboy soon | discovered that camping out with the wife and kiddies was not as hilarious as he had imagined it. Anyway, the average American does not like too much of the great outdoors. He prefers a closed car, plenty of up- holstery and good soft bedding when he takes to the road—an ice box and stationary stove to cook on, especially when he has the folks along. No matter how much of & he-man and nature- lover he may be when the sun shines, he likes to get indoors when the sun sinks. Consequently, when the traffic increased with the paved highways everywhere, these cottage establish- ments were bound to come.” The tourist camps and cottage es- tablishments have not gone into the beer or spirits trade, for they largely cater to the family group as a whole— which, of course, includes an abun- dance of youngsters. These hosts of the highway repre- sent the last frontiersmen of rugged American individualism; their indus- try, as already noted, is practically the only one today in America that is 100 per cent independently owned. ‘With no Board of Directors or stock- holders to answer to, nor prowling efficiency experts in the , every camp owner can give full vent to his own personal ideas of architecture, service, novel attractions and what not. Said ideas in many instances are, to put it mildly, highly individ- ['ualistic—often fantastic. Neverthe- less, the motor gypsies seem to relish variety in the camps they patronize. And they get plenty of it. hook . , . & sap carrier . .. . . . pewter stein over 100 years ‘muzzle-loading D3~ BRITISH PRICES STABLE DESPITE MONEY CHANGE According to English People, There Is No Fixed Relationship Between -Pound and Costs. BY ANDRE S/EGFRIED, “‘America N SEPTEMBER 21, 1931, when the pound sterling became detached from the gold standard and suddenly de- preciated in value every one in July, 1931, they were 59.7 and in October, 1934, they were 62.7, Retail prices from 83 to 82.5, salaries from 96.5 to 94.25. During the same period British currency depreciated 41 per cent. Many people outside England are ignorant or affect ignorance of this fact; they insist that prices there are rising or will rise. In contrast, the great majority of the English people believe, without the least doubt, that prices in the British Isles will never rise. According to them there is no fixed relationship between the pound and costs; sterling can depreciate in its relation to gold without the Eng- lish consumer ever realizing it. If there is one thing stable in the world, they declare in London, it is the purchasing power of the pound. If it seems to be depreciated in its relationship to gold, it is only an illusion, they insist—what has really happened, they feel, is that gold has appreciated in its relationship to a sterling which does not budge. Interesting Problem. This divergence of opinion brings up a most interesting problem; that is, the way in which prices become established. Who is right—the for- eigner, who very logically expects a rise which never comes, or the Eng- lishman, who, unconsciously perhaps, does not believe that a rise would ever come? A very intelligent article, full of acute observation on this whole subject, appeared in the Revue d’Economie Politique of November and December, 1934, under the signature of Robert Wolff. Failure of British prices to rise has often been explained by the fact that since 1931 world prices, as expresged in gold, have diminished approxi- mately 36 per cent. Theoreticnlly a monetary depreciation should be fol- lowed by a rise in prices, but the lowering of world prices exercised a compensatory influence, and in the end the price of sterling remained where it was. There is a valid reason | for this at least sufficient to explain it. But Wolff adds a judicial thought when he questions whether the Eng- lish prices are not in the majority of cases s different thing entirely from world prices themselves. But if this is so they constitute a separate body and are independent of the value of the pound in its relation to gold. Under these conditions the problem is inverted: it is no longer a case of world prices exercising an influence over the price of sterling, but the latter influencing world prices. From this point of view, the Englishman who ished, but gold has mounted, is not expressing such an absurd idea after all. The experience of these last few international prices have been lowered it is largely due to the fall of sterling. Forced Reduction in Prices. When the English, who are the principal international buyers, buy less, they force a reduction of prices. such circumstances is the purchasing power of the chief consumer. Besides, we should also remark that England not only imports to consume, but also This creates a friendly feeling. They | want to come back. They tell their friends. This spreads far and wide with lightning-like speed.” To choosey motor guests, Dolly Mercer, caretaker of City Auto Park, Missoula, Mont., points out with pride that no two of her cottages are iden- tical in color, rugs or arrangement of furniture. She aims to let her guests choose the layout that suits their in- dividual tastes. At Happy's Place, Hinckley, Minn,, cute little bear cub to amuse the kid- dies. King Cole’s Retreat, Highway 9, Lake Sutherland, Wash., has those famed big Washington trees to be photographed in front of. Midway Cabin Camp, Chillicothe, Ohio, has a prize rock garden that garners the curious for miles around. A Larson, operator of the Bronx Tourist Camp, Boston Post Road, Bronx, N. Y., possesses efitertainment assets which few of his 32,000 other fellow camp owners can claim. For a nickel carfare his guests can view the great cross-roads of the world— Broadway and Forty-second _street. If their tastes do not run to seeing the great human show along the Great White Way, they can stroll over to the Bronx Zoo and witness one of the dest animal shows on earth. “Steam heat, hot and cold water, spacious bath room, Murphy beds, radio in every cabin, garage and laundry”—these were a few of the Highway 61, Village, 2 miles north of Seattle’s city limits on U. 8. Highway 99 of- fered to this weary motorist. J. C. Graves, a former hotel man, is the proprietor and a very happy gentle- man, indeed, in his new role as camp- owner. When I queried him as to how he liked his new profession, Graves unwittingly revealed a few of the fun- damental reasons why so many of ingly pleasant, hail-fellows-well-met, exuding friendliness and hospitality. Outdoors Improves Health. “On this job,” imparted Camp Operator Graves, “I don’t have to dress up. I'm outdoors all the time my health has improved 100 per Of course, there is a great deal geqee majority of these camp aces personally do their utmost that their guests are satisfied their brief visits. A praise- attitude, for most of their Euil : Egfiiégi & «f E ikt il i z H 7 E ! i t g 3‘5 sigg I claims that the pound bas not dimin- | years has in fact taught us that if| there is Happy's| attractions which the National Auto | to re-expert; this is the principal rea- son for the eminent position she holds in international commerce. But at this point a very fundamental question is forced upon our attention; it is that the buyer creates prices under certain circumstances, but not in every case. He makes them, undeniably, during periods of depression, when every one wants to sell, when no one wants to or can buy. This is exactly what has happened since 1931; we have seen many arrogant buyers, and most accommodating sellers, so polite that they could be called obsequious. Transactions payable in sterling or in money affiliated with sterling prob- ably represent more than half of the total volume of the world’s exchange, Here is a great body exercising an al- most irresistible force. For example, the franc, which is a national cur- rency, and French importations, which are an important factor in intercon- tinental commerce, have in no sense of word an analogous influence, Under these conditions France—and in a large measure all the countries forming the gold bloc—have a passive resistance to world prices, while England, experience shows us, reacts promptly. The fall of world prices would not have been so abrupt or so marked if the pound had not left the gold standard. But this way of reasoning is not uniformly valid in every circumstance. In reality, if the buyer is the one who is effective in setting prices during a depression, it is no longer he who makes them during a period of re- covery. Then the seller again be- comes king, and we pass from a buyers' to a sellers’ market. War Experience Cited. During the war and right after it we saw one phase of this sequence. ‘Who does not remember how easy it was to sell at that time and how diffi- | cult to buy? Who does not remember Jhow arrogant the sellers were, how timid the consumers? When circumstances again favor the seller, then England, an importing | country, will be in an entirely differ- ent position. The price level will then be determined less by the British capacity to buy than by the selling | countries—America, Asia, Africa and Oceania—with their great powers of production. It will be a different at- mosphere and we will have the im- | pression of a piece of music played in |a different tone—we will have passed |from & minor to a major key. The dominant influence controlling prices | will be, as previously, the influence | of quantity; but instead of the con- | sumer, the one who supplies will be | in the saddle. In looking at the problem of costs in this way, many worthwhile lessons | are to be learned. | It very clearly explains why the monetary depreciation of 1931 in no | way exercised the same influence over | prices as the depression of 1921, com- |Ing at a time when raw materials | were scarce, or at least seemed scarce. | 1f we are at the moment facing an international recovery, the reasons | which prevented the fall of currencies | from having a repercussion on costs | will no longer hold. This will be a proof of the wisdom |of certain monetary policies. When the rise of prices appears above the | horizon, the wise ones will be those who know how to accept the chang- ing atmosphere and the conditions of the rising tide. e Czechoslovakian Vote | Rome Parley Threat The directing element of prices under | (Continued Prom First Page.) | he would complete the work of unifi- | cation begun by the Iron Chancellor. | Bismarck's success was due to his | diplomatic skill in keeping prospective enemies divided. So far Hitler'’s lack | of success has been his inability to | refrain from a course which has united these enemies. And as long | as Britain remains a potential foe, so long his eventual success remains open to question. On the other hand, it would be a mistake to assume his present check to be final. He has recovered the | right to arm without restriction, he has won Poland away from the French camp, he is winning Hungary | from the Italian association. He has | consolidated the German minority in Czechoslovakia and is making progress with a Nazi movement in Austria. Finally powerful political forces alike in Yugoslavia and Rumania are urging that their countries discard France and come to terms with Germany. As for the Serbs, at least, such a change might bring great profits, while a war with Italy could put an end to existing domestic dissension. Thus, while Hitler may have lost a campaign, he is still very far from having suffered decisive defeat and, all things con- sidered, the odds are still in favor of his eventual triumph. (Copyright. 1935.) Facts Replace Eulogy . On French Tombstones | PARIS (#).—Truth on the tomb- stone is sought in France nowadays. The old-fashioned eulogy of the de- parted is & thing of the past. This transformation was observed by George de la Fouchardiere, a Parisian columnist who makes a study of queer epitaphs. In scores of visits he has made to cemeteries, from Brittany to Provence, from Gascony to Flanders, he has found the same change. Excessive eulogies still remain on the ancient tombstones, but those of the last flowery epitaph giving the impression that all the great and good have joined the lg:jg;lz has quite gone out of fashion For the last decade graveyard prose has been getting down to facts. Ceme- | tery poetry has disappeared, and the prose, impersonal and unadorned, simply gives names and dates. The saying “as false as an epitaph” has itself become false. The change is due in part to new French cemetery regulations which forbid ali “excessive p! such as that which figures on the tomb of Heloise and Abelard in Pere remained on the surface of our globe.” r