Evening Star Newspaper, September 24, 1935, Page 26

B—6 #» VISIONS ANOTHER ECONOMIC CRISIS Harvard Business School Professor Warns Against Credit Inflation. By the Associated Press BOSTON, September 24.—A predic- tion the Roosevelt program would lead eventually to another price collapse and economic crisis was made today THE EVENING STAR, WASHINGTO DAILY SHORT STORY: YOU CAN'T WIN I.Imll had big ears, and lit- tle eyes, and he was always falling in love. But Her- bie was cagey; he knew when to fall out of love. Herbie worked in a men’s furnish- ing store on Sev- by Prof. Melvin T. Copeland of the |enth street, where Harvard Business School. they kept open Appearing before the Boston Con- |evenings. So Her- ference on Distribution, Prof. Cope- land, a marketing expert, in a speech |several prepared for delivery, said: bie would go for hours without seeing “The Roosevelt program * * * is un- | girl; but he was al- leashing forces which will bring about a repetition of the very disaster that ways thinking about one. He they are now trying to cure. An over- | might be selling a expansion of credit and currency will lead, some years hence, to another price collapse and econdhic crisis. | “One of the chief reasons for the | severity of the current depression has | been the existence of such large debts, | owed by farmers, home owners, indus- trial corporations, railroads, munici-{ palities, States and foreign govern- ments. These debts were the chief igfluence leading to the devaluation of the doliar and the demands for cheap money. “Yet here we are piling up another huge debt, which may be a millstone on our necks when the next crisis occurs.” g The present increased cost of living, the Harvard professor said “is mild in comparison to that which probably pair of socks or a tie to a man, but | his thoughts were far away. Herbie prided himself not only on his ability to sell lothes, but to wear them. His ties and his socks always matched. There was a future for Herbie in the men’s furnishing business. Her- bie’s boss, a man who wore celluloid collars, told him so. And Herbie wasn’t the man to permit himself to be tied down to any woman—not with a future in the men's furnishing busi- ness before him. Herbie's friend Fred was an entirely different sort of fellow. He had mar- ried young, and though he was only She let him kiss her. one! will come during the next several 28, & year younger than Herbie, he years.” |not only had a wife to support, but Prof. Copeland asserted “it is not |two children as well; and they had too late to check the powerful infla- | come at the same time, for they were tionary forces that have been un-|twins. Fred was always boasting leashed” and advised that “the first | about his twins, but Herbie only | essential step would be an immediate tapering of Government expenditures | 80 that those expenditures could be ' brought in line with Government rev- | * enues in the near future.” “The second step.” he said, “would be to make sure that credit expan- slon is checked before it nears the | danger zone.” | Prof. Copeland said he feared ac- | tion would not be taken to keep prices down or to avert over-credit expansion. “The responsibility for this price &ituation rests squarely upon the shoulders of one man, President | Roosevelt,” he maintained. | U. S. AGRICULTURAL * IMPORTS INCREASE Commerce Department Statistics Also Reveal Decline in Ex- | ports Over Last Month. By the Associated Press. United States imports of agricul- tural products in August were shown by Commerce Department figures to- day to have continued to increase over the previous month and the same month last year, while exports con- tinued to decline. Both wheat and corn imports gained over July, and August, 1934, but there was an increase of corn ex- ports in August over July, although the increase was still far from the August, 1934, total. | Imports of meat products were only slightly over July, but were much greater than in August, 1934, while | these imports in the first eight months | of 1935 were nearly double the same | 1935 period. Beef and veal declined | from July. \i Virtually without exception, exports | of farm products were under August last year, and with but minor excep- | tions were under July this year. Ex- ports of beef and veal increased, but those of hams and bacons dropped. Exper$s had no new explanations for the trend. The drought plus re- ductions of domestic production, in | eombination with foreign quotas and | 8 tangled international exchange situ- | ation, accounted generally for the sit- | uation, they said. Commander GEN. BOWLEY HEADS 3D CORPS AREA. Maj. Gen. Albert J. Bowley will assume command of the 3d Corps Area on October 1, the War De- partment announced yesterday, with headquarters at Baltimore, He will succeed Maj. Gen. Robert E. Callan, who has asked to be re- tired. The District of Columbia is in the 3d Corps Area. SO PURE YOU CAN smiled. He was genuinely sorry for Fred. * k ok X E'RE going to have a swell party up at the house tonight, so look your best,” Fred said to Herbie, as he purchased a new tie from him, which he got at a discount. “I always look my best.” smiled Herbie. “What do you do when you're haying a party and the twins get into s fight?” “Don’t worry about the twins,” promised Fred, “they just turn over and go to sleep.” “Well, that's something,” said Herbie. “You better come early, there's going to be some good lookers there, said Fred. “I'm glad you told me. I'll be there plenty of time.” “What happened. to this one you was so hot over?” asked Fred. “Oh, that ain’t hot any more. She was beginning to get serious, and when they begin to get serious, I say good-by. That's my style,” Herbie laughed. “Youre O. K.,” said Fred. “Sure, I got a line,” declared Her- bie. “I know where to look for 'em, | and I know how to hide from them.” * X ¥ X NORMA was already at the party in the Fourteenth street home when Herbie arrived. Fred took Her- bie right over to her, and intro- duced them. “I want you to meet the prettiest girl in the house—excepting my wife,” 1 said Fred. “Excepting the Queen of Sheba or Helen of Troy if she was here,” said Herbie and winked at Norma. “You want to be careful of this guy. He's a regular heartbreaker,” warned Fred. “He loves them and then he leaves them.” “Leave him to me” said Norma. She was 26, but she knew how to put her make-up on, and under arti- ficial light she looked younger. She seemed hardly more than an inno- By Frank Kern Levin. cent child, with her carefully bleached hai~. Herbie smiled confidently. “You'’re a pretty smart little girl, ain’t you?” said Herbie as he sat down next to Norma. “A girl has to be smart in these days, when bright fellows with a line come along,” Nor- ma returned slyly. “You're getting s little ahead of me,” Herble said, and wagged his finger. “Oh, mo! I'm only trying to keep up with you.” “Keep up with me! That's a hot You're way ahead of me al- ready.” “Yes? How far ahead?” “Well, head over heels in love. Ha! Ha! How's ‘that one?” That's one’s pretty good. So I did hear right; you have got a line, haven't you?” * % ok X "DON‘T believe everything you hear. Don't be dumb, beautiful.” “Who's beautiful?” “You're just asking me, aren't you? | You don't want to hear me tell you | what you know, do you?" “You're pretty fast, you are,” said ‘Normn. and just then the twins be- |gan to cry. Fred's wife went in to shut them up, but they wouldn’t; so | Fred went in, but still they wouldn't. “It sounds like a boiler factory,” said Herbie. | “Yes, it certainly does. Let's go for & walk. It might be over when we get back,” suggested Norma. “Now you're getting bright ideas,” said Herbie, and he got up and Norma took his arm, and they smiled at the | other guests and went out, and walked |out and down to the park. | “IT bet they were all winking at one another when we walked out,” said Norma. “They know fast steppers when they | see them,” said Herbie. “Or are you |really a fast stepper?” | * ox % % | “VWHAT do you mean?” Norma asked | innocently. They were stand- | ing hidden by shrubbery, and in the ! shadow of the moon. | “How about giving a fellow a kiss?" | asked Herbie. | “Aw, you really don't want to,” said | Norma. “I do, and what I want I take’” |declared Herbie, and after she re- | sisted him a little while, she let him kiss her. Then she was silent and looked sad. | “I guess we better be getting back, sweetheart,” said Herbie. “It's so beautiful here with you. Let's stay here just a little while longer,” said Norma. When an hour passed she was ready to go. “What shall we tell them when we get back?” asked Norma. | “What do you mean?” asked Herbie. “Why we've been out almost two hours, and people get so suspicious these days. You announce it.” “Announce what,” Herbie asked. “Our engagement. Or no—I can see you're too bashful. I'll announce it,” cried Norma as she dashed in on Fred's party. The twins were still screaming, but Herbie didn’t hear them. ... (Copyright. 1935) ° LARGER STAFF URGED Enlargement of the staff of Peo- ple’s Counsel William A. Roberts was urged on the Commissioners yester-| day by Charles C. Gillikin, chairman | of the Public Utilitles Committee of the Lincoln Park Citizens’ Association. 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