Evening Star Newspaper, October 15, 1936, Page 36

DOLLAR STTLATION HELD NCHANGED Dr. E. W. Kemmerer De- clares Accord Is Not Real Stabilization. Significant features of the “new type of gold standard” set up by the reciprocal stabilization agree- ment entered into by the United States with . France and Great Britain are discussed here by the internationally famous economist of Princeton University, who has served as financial adviser to many governments. BY DR. EDWIN W. KEMMERER, PRINCETON, N. J, October 15 (N.AN.A).—The announcement of a tripartite stabilization agreement on the part of the United States, England and France with the object, in Secre- tary Morgenthau's words, of creating “a new kind of gold standard,” is of importance at its face value chiefly as an evidence that the three nations are- continuing to co-operate in the matter of monetary stabilization. The substance of the agreement makes practically no change in our actual American situation. Our Gov- ernment retains its right to change the gold content of the American dollar at will between the limits of the equivalent of 60 and 50 cents of our old dollar under the existing law. The conditions under which gold can be imported and exported remain entirely in the control of the Gov- ernment. The Government has merely made an agreement, subject to recall or change on 2¢ hours’ notice, that America’s operations in the interna- tional movement of gold shall be limited to operations with the stabili- zation funds of the three countries concerned. Dollar Stabilization Open. The all-important question as to whether the dollar is to be perma- nently stabilized in terms of gold, in terms of national or international purchasing power or on some other basis is left entirely open. The term “exchange stabilization” connotes a fixity of value relation- ship among different currencies over a substantial period of time. A “sta- bilization” agreement among three na- tions, which is subject to cancellation or change from “day to day” at the option of any one of the parties, is certainly lacking in the essentials of stabilization. To what extent the agreement will actually make for stabilization will depend upon the ad- ministrative discretion of the govern- ments concerned. The claim that the agreement “takes the risk of foreign trade out of the calculations of the American engaged in foreign trade” is without foundation. Under the old-time gold standard, exchange fluctuations for de= mand paper between nations were kept within the limits of a minor fraction of 1 per cent, represented by the range of the “gold points,” by the free and publicly known flow of gold from country to country and the exchange operations of the “ter- rible speculators.” Under the present .plan, there is practically no limit to THE EVENING - STAR, the range of possible exchange fluc- tuation. Manipulation to Be Used. “The old-time, largely automatic and publicly known adjustments are to be replaced by secret governmental manipulation through the operation of huge stabilization funds operated by the respective governments and concerning which no accounting is to be given to the public. These opera= tions will be “affected with a#tre- mendous public interest” and will Don't take half-way meas- ures with Dandruff. Get after it with RYKO—the amazing new preparation that is guaranteed to clean out Dandruff. Rub a small quantity of RYKO into the scalp—then a wash with fragrant, creamy RYKO Sham- poo. Your scalp will be clear of dan- probably be dictated largely by politi- cal considerations. N The plan set up may be adminis- tered’ as a de facto gold standard or as & commodity dollar standard or as any other kind of standard, so far as the terms of the agreement are con- cerned. (Copyright, 1936, by the North American Newspaper Alliance, Inc.) Turkey's population has increased from 13,600,000 in 1927 to 16,200,000. ; BUY T c HIS GET THIS FREE druff—your hair soft and lustrous. . 1S FOR ‘SALE AT ‘ - BOTTLE ALL DRUG AND 2 TOILET COUNTERS 7 SHAMPOO TRIAL RYKO REAL DANDRUFF MEDICINE / For Sale at All Peoples Drug Stores and All Good Drug Stores WQODWARD & LOTHROP DOWN STAIRS STORE Friday Remnant Day Remnant Day Merchandise is not returnable or exchangeable; not sent C. 0. D. or on approval; telephone or mail orders not accepted Misses’, Women’s Dresses 52.95 Were $7.95 and $10.95 95 dresses in broken sizes for misses and women, street and evening styles, some with jackets. A number of prints and a few plain colors in acetate rayon crepes and chiffon. 135 Misses’ and Women's Dresses in broken sizes. Some soiled and mussed. Acetate rayon crepes aad chiffons. Were $7.95 to $13.95. Now DowN StAms STore, Dresses. Women's Hats 50c Were $1.95 and $2.95 35 hats in black, brown, navy and pastel felt. As- sorted head sizes. DowN STAIRS STORE. Plaid Silk Gowns $|.75 Were $2.95 41 form-fitting gowns in pink or blue delicately col- %ecll7plald design. Sizes 15, 62 Pairs Sateen Pajamas in polka dot and Paisley designs, long-sleeved coat styles. Wine, navy and blue. Broken sizes. Were $2.95. Now. 23 Pairs Cotton Pajamas, Dimity Negligees, and Cotton Robes. Reduced for clearance. Were $1.35 and $1.95. Now. Down STAIRS STORE. Junior Misses’ Cotton Dresses 50c Were 5195 14 in prints and plain col- ors, in sizes 11 to 17. 21 Dance Dresses, in printed and plain chiffons, sizes 11 to 17. Were $7.95. Now ._$2.95 34 Str °t Dresses, in acetate rayon crepe prints and plain colors, in sizes 11 to 17. Were $7.95. Now. DowN STAmRS STORE, JuNior Misses. Boys’ Knickers, 813 Were $195 100 boys’ wool knickers in tan, gray, brown and navy cheviot. Full cut. Sizes 10 to 18. 300 Boys’ Model Shirts in youths’, juniors’ and button-on styles in plain and fancy pat- terns. Sizes 5 to 14%. 127 Boys’ Wool Caps in regular and Eton models. Gray, brown, blue. All gizes. Were S$l. Now 20 Boys’ Wool Sweaters from regular stock. Were $1.95. NOW epecccamccnmnnce: -ee-$115 Down StAms SToRs, Misses’, Women's Dresses O5c Were $2.95 to $5.95 65 dresses in voiles, dotted Swiss, linen, pique, batiste, net, cotton lace. Jacket suits, one and two piece styles. Sizes 14 to 20, 38 to 44. 41 Misses’ Suntan and Sleeveless Dresses in pique and Shantung-weave cotton broadcloth in sizes 14 to 20. Were $1.95 and $2.85. Now -50¢c DowN STAIRS STORE, INEXPENSIVE DRESSES, Blouses, 35¢ Were $1 and §1.95 60 organdie, dotted Swiss and novelty cotton blouses; short sleeves, pastel shades and white. Sizes 34 to 40. 8 Summer Riding Coats of linen crash, black and white mix- tures and natural. Sizes 14 to 18. Were $5.95. Now $2.95 18 Pairs Riding Breeches and Jodphurs in maize, London tan and oxford gray. Broken sizes. Were $2.95 and $3.95. Now 1.95 35 Pieces Summer merchandise for clearance, including pique shirts, cotton culottes and beach shorts. Were $1 to $2.95. Now ... 35¢ 20 Sport Scarfs—triangles and Ascots in prints and plain colors. Were 50c to $1. Now DoWN STAIRS STORE, SPORTSWEAR, Sports Coats Reduced ‘15 Ceats in solid fleeces and mixtures in broken sizes. ‘Were $10.95 to $16.95. Now. 10 Misses’ and Women's Suits in black and navy, broken sizes. Were $10.95 to $16.95. Now. DoOWwN STAIRS S.ORE, COATS Calf Handbags O5c Were 5155 24 brown and black 48 vee top, bias slips of handbags, some with brocaded satin in tea- slide fastener closings. rose. Sizes 38 to 42. DowN STAIRS STORE, DowN STAIRS STORE. Medium-Weight Chiffon Hose, 58¢ (irregulars) 720 pairs for business or sportswear. Slight irregu- larities, that do not affect the wearing qualities of the hose. DowN STAIRS STORE. Tailored Slips Q5¢ Were 5195 Men'’s Sahple Hose Special [8c 6 pairs $I 600 pairs of men’s sample hose in fancy, plain and ribbed styles. Rayon, lisle and wool mixtures—all correctly sized and cut. Sizes 10 to 12. 300 Men’s Better Shirts in printed hroadcloth and woven madras. These shirts are full cut and made of pre- shrunk materials with fused collars. Sizes 14 to 17. Were $1.35 to $1.95. Now. 150 Pairs Men’s Gray Suede Gloves reduced from our regular stock. Were $1.95. Now $1.05 35 Flannelette Night Shirts in sizes 16, 17 an $1.25. Now 5 Men’s Lounging Suits consisting of jacket and trousers. All wool, sizes small, medium and large, Reduced to--$6.50 Down STARs STORE. Juniors’ and Boys’ Shoes, $2-50 Were $3.95 102 pairs boys’ shoes in brown and black calfskin; misses’ sports shoes in brown reverse calf, brown and black calfskin. Broken sizes. DowN STAIRS STORE, Women's Shoes $2.50 Were $3.95 and $5 200 pairs in the group in- cluding straps, oxfords, pumps, in brown and black suede and gabardine. Broken sizes. DOWN STAIRS STORE. Girls' Culottes 25¢ Were Much More 21 in broken sizes 7 to 14. 8 Acetate Rayon Crepe Dresses, in broken sizes, 7 to 14. Were 22 Lightweight Wool Coats and 3-plece Suits, in sizes 10 to 16. ‘Were $13.95 to $16.95. Now_$7.95 DOWN STAIRS STORE. Girdles, 65¢ Were $1.50 52 side hook models in lightweight material Broken sizes. 32 Foundation Garments in- cluding girdles and garter bras- sieres. Broken sizes. Were 58c and $1. NOW_ oo coaeae, ---35¢ DOWN STAIRS STORE, Brother and Sister Suits, 50c Were $1 125 suits and dresses, in sheer and heavy madterials, broken sizes 3 to 6. 14 Angora Bonnets, slightly soiled. Were $1.95. Now._$1.45 40 _Prints _and Plain Wash Dresses, sizes 1 to 6. Were $1.95. Now. Dowx Stams Srons, WASHINGTON, -D. -C. 'HURSDAY,. OCTOBER 15, 1936... WOODWARD & LOTHROP 10™11™ F AND G STREETS PuHoNe DIsmicr 5300 gmwéa FURNITURE All ltems Subject to Prior Sale Living Room Suites—1/ Original Prices 1 Two-piece Club Suite (sofa and chair) in green flat mohair cover. Originally $209. Now $|04.5° 1 Two-piece Club Suite (sofa and chair) in rust flat mohair cover. Originally $209.50. Now $|04.25 1 Two-piece Club Suite (sofs and chair) in blue flat mohair cover. Originally $234.50. Now $| I 7.25 1 Two-piece Club Suite (sofa and chair) in mulberry flat mohair cover. Originally $231, sl |5 50 - . 1 Two-piece Modern Suite (sofa and chair) two-tone modern design cover. Orii szil. mmilenmng | % 1 Two-piece Club Suite (sofa and chair) in mul- $l05 berry flat mohair cover. Originally $210. Now.__ FURNITURE, S1XTH FLOOR. ; 1 Two-piece Modern Suite (sofa and chair) in modern cover of brown mohair, $255. Now 1 Two-piece Modern Classic Suite (sofa and chair) $|30 with plum flat mohair cover. Originally $260. Now, 1 Two-piece Modern Suite (sofa and chair) in blue kinkomo cover. Solid mahogany frame. Originally $240. Now 1 Two-piece Modern Suite (sofa and chair) in green mohair. Originally $291. Now 1 Club Sofa in brown mohair cover, $151. Now . Living Room Furniture Reduced 1/ 2 Metal Chairs. Green with red leatherett, t and back. Originally $16.50. 'Now e $|050 1 Cellarette with décanter and glasses. Walnut ve- $90 neer and gum. Originally $140. Now .. ____ _____ 4 Secretaries in mahoga) 1 High-back Oces 1 Chair covered in blue-green $4o cotton damask. Originally $60. Now — 2 Cellarettes in walnut-and-gum with Originally $40. Now FURNITURE, SixTR FLOOR. 1 Studio Couch End Table in solid mahogany. Originally $22.50. Now ,e . g $I2¢50 1 Modern Coffee Table in rosewood and ehony veneer. Originally $70. Now__ $l475 1 Swivel-top Low Drop-leaf Coffee Table in solid |2 walnut, Originally $18.50. Now__ 1 Long Coffee Table in solid walnut with sepa- rate black glass tray top. Originally $25. Now $|6'50 2 Green Enamel Sofa Tables. Or: 1 Metal Settee with red leatherette seat and back. Originally $27.50. Now.______________.. $I7‘50 Bed Room Furniture Reduced 1/ 1 Walnut-and-veneer Dressing Table with swing- ing mirror. Originally $27.50. Now_____ $|7-50 1 Solid Mahogany Bed Room Bench. Green uphols- $|5 1 Vanity Bench with low back. Upholstered $|4 75 tery with antique nail trim. Originally $22.50. Now seat. Originally $30. Now . 1 Bed Room Bench in Colonial design. Originally $8. $3 1 Bed Room Chair with rose velour seat and $| 1.75 . 1 Bed Room Chair, modern design with uphols. $l l 75 tered back and seat. Originally $23.50. Now__ . e back. Originally $25. Now 1 Slipper Chair with brown velvet-covered down cushion. Originally $30. N $|4.75 1 Modern Bed Room Chair with tan upholstery. $8 75 Originally $13. Now - . 1 Walnut and walnut veneer Panel Bed, single size. Originally $23.75. Now s $|5-75 1 0d ;\-nry ;nd Blue Kinkomo Chaise Lounge in modern design. Reversible seat cushion. Originally $110. Now._ oo oroeeeen-., ommeemoan $49'50 1 Walnut-and-gum Veneer Dressing Table with hanging mirror. Originally $20.50. Now_ $|3-75 2 Walnut-and-gum Veneered Dressers with hanging mirror. Originally $55. Now $3675 1 Dresser Base with four drawers. Black metal and satin chromium finish. Originally $56. Now $37'50 Broping, SIxTH FLOOR. On Sale Tomorrow— Goose Feather Bed Pillows Regularly $3.50 $2‘45 Just 200 of these regular size bed pillows at this low price. All with 1009 goose feather filling. Choice of gray or tan- striped ticking. BrDpING, BrxTH FLOOR. Stearns & Foster INNERSPRING MATTRESSES Specially Purchased to Sell $I 9.7 5 At This Remarkably Low Price ‘A staunchly made 224-coil unft with prebuilt borders, French inner- roll edge, heavy insulating cushion and metal button tufting—many features found only in much higher priced mattresses. Nicely finished. Made by Stearns & Foster, a famous name in bedding since 1846. Box Springs _tQ.Match, $19.75