Evening Star Newspaper, May 27, 1940, Page 7

Government Policies Blamed for Capital llls By Brookings Study Taxes, Regulation and Spending Cited; ‘Economic Maturity’ of U. S. Denieq The concept that the United Btates has reached a stage of “eco- nomic maturity” necessitating ex- tensive supplementing of private by public enterprise was contradicted today in a report by the Brookings Institution of a two-year investiga- tion of the factors responsible for stagnation of the capital markets. The study was directed by Dr. Harold G. Moulton, president of the institution, Associated with him were Dr. George W. Edwards, of the College of the City of New York; Dr. James D. Magee of New York University, and Dr. Cleona Lewis of the institution’s staff. The study, dealing with capital expansion in relation to employment and economic stability, found that possibilities of further development of private enterprise are adequate to absorb the Nation's capital and la- bor resources for years to come. No Decline Before 1929. In appraising the argument that the country has reached “economic maturity” the report points out “that production data showed no declining tendency prior to 1929 although the frontier had disappeared a genera- tion earlier and the rate of popula- tion increase had been declining for half a century. The decline in pro- duction since 1929, the report main- tains, proves merely that there has been a protracted depression.” “Stagnation of capital,” the report eontinued, “could not be attributed to a lack of money or to policies of commercial banks.” “Although money savings are much smaller than in the late 20s, they are greatly in excess of current market demands. Commercial banks, far from pursuing restrictive credit policies, have made unusual effort to expand credit and their failure to do 80 arises from the lack of demand from credit-worthy enterprises.” The survey states that re-estab- THE EVENING - STAR, WASHINGTON, D. C., MONDAY, MAY 27, 1940, REFUGEES FROM HOLLAND—Mrs. Eddy Kahn and her son, Eugene, 5, are shown at the Washington Airport yesterday, en route to the family’s former home at Pittsburgh after flying over land and sea to escape the war, which engulfed their home in The Hague, Netherlands. They landed in the United States aboard the Pan-American Clipper at Norfolk, Va. The husband and father still is in Holland. —A. P. Photo. lishment of “stable” conditions largely depends on the removal of unnecessary impediments to the flow of funds into constructive capital de- velopments and the restoration of confidence in the future of private enterprise, Government policies have impeded the flow of capital into constructive developments in several ways, the report stated. These are: “Taxation policies have tended to drive inves- tors to high grade securities; regu- lation has raised the costs and in- creased risks of capital flotations; the persistence of huge deficit spend- ing has undermined confidence in public credit, and the development of a maze of Government lending Virginian's ‘Ark’ Still Sails On After Defying Legal ‘Tides’ NANAIMO, British Columbia,. Satko laid the keel of the uncon- May 27—(Canadian Press)—Safely| {:;ltional Ark, towed it across coun- over watery and legal hurdles, the Paul Satko family was “getting along all right” today on its trip to Alaska in the 40-foot, homemade “Ark of Juneau.” The Ark, with its 1926 automo- bile engine purring comparatively smoothly, put in here yesterday, bearing the entire family—Paul, an unemployed Virginia welder; his wife and their seven children, six of whom were forbidden by a Seattle court order to board the boat. British Columbia officials expressed satisfaction with the Ark’s papers #nd evinced no intention of inter- fering with the family’s progress toward a homestead and a new life on Cook Inlet, Alaska. Until it arrived here, the Ark had been unreported officially since leaving Anacortes, Wash., secretly Saturday in deflance of the court order. . Mr. Satko said he expected to be underway for points north before night. The Satkos’ journey began in Richmond, Va., in 1938. There 10 “Sleep like a Kitten” George Washington o ST. LOUIS INDIANAPOLIS « CHICAGO CINCINNATI « LOUISVILLE A smooth-riding arsin ... gently otarted and gently stopped . . . quiet sleeping cars, air-condi. tioned for perfect comfort .". . these are factors that make your fights restful, your sleep refreshe ing aboard THE GEORGE ‘WASHINGTON. And your ’wlkiu hours, too, will be made \enjoyable on this road where |courteous service seeks to aaticie pate your every wish, lA¢ St. Louis THE GEORGE ,WASHINGTON makes excel. lent connections with late afcer- Boon trains for the west and southwest. SAVE MONEY! Enjoy the comforts and safety of railway travel at lower cost. Take advantage of Chesspeske and Ohio’s NEW LOW FARES THE ¢10RGE WASHINGTON Leaves Washington .. 6:00 PM Arrives Cincinnati .. 8:30 AM V" Louisville ™ Indianopolis Chicago ... - THE SPORTSMAN and THE . 7. V. sister trains of a distinguichea depart at different hours. Por information and reservations communicate with' €.8. KINCAID, Asst. Gen. Pass. Agt. 809 15th St., N.W. * National 0821 CHESAPEAKE and OHIO Lines | and completed the boat at Tacoma. He started for Alasla last April 21, intending to file a claim on a homestead at Cook Inlet. Putting into Seattle for repairs, Satko came under the surveillance of the court, which declared the Ark unseaworthy and prohibited the minor children from continuing the trip until structural changes were made. Mrs. Satko and the minor children proceeded = from Seattle to Anacortes by land, while Mr. Satko and an 18-year-old daughter sailed the® Ark. agencies has narrowed such private ain. Paint Poise | Emerson cloimed that e cost which fits in the back lends « peace end poise thet aven re- ligion cannot give. The Philosophe: spoofi home perfectly painted makes K @ family pretty serens. Elinor Morrls pirector McDougall-Butler Co. 421 Tenth St. N.W. NAtional 7888 YOU, TOO, CAN AVOID BALDNESS YOU: My scalp almost drives me crazy—it itches, is thick with dandruff, and my hair is getting very thin. What is the matter? THOMAS EXPERT: Some of the 14 local scalp troubles which cause 85% of all baldness are attacking your hair growing structure and msking it impossible for your hair to grow as nature intends it should. YOU: I've tried ev: ing—can’t you do something to help me? I dm'tm be bald! i THOMAS EXPERT: We can help you save your hair. We have helped a quarter-million other persons during the past 20 years. YOU: What does Thomas treatment do? THOMAS EXPERT: Thomas experts first determine the exact cause of hair loss. We then rid your scalp of local infections which results in stopping the itch and in normalizing your hairfall. We-then stimulate the dor- mant sources of hair-growth and help nature to grow hair. YOU: Can you help everyone? THOMAS EXPERT: No, we treat only the 14 local causes of baldness. We examine each person’s scalp—without charge or obligation—and those who do not come within the scope of our treatment are frankly told. YOU: Let’s start today. You have 45 offices —have been successful for 20 years— “such popularity must be deserved.” SUITE 1050-51-52 WASHINGTON BUILDING (Corner N. Y. Avenue and 15th St. N.W.) m—o&"nv e s T ] . 4-8180 PIL A Robert Montgomery Joins Ambulance Service By'the Associated Press. LONDON, May 27.—Robert Mont- gomery, American motion picture actor, has been accepted as an ambulance driver for the American Field Service and expects to leave for France Wednesday or Thursday. ‘Today he was pusy supermtending the closing of his country home near Stoke Poges, in Buckingham- shire. Mr. Montgomery has been com- paratively inactive since his arrival in England in January and has been awaiting an opportunity for active war service. He will operate from headquarters in Paris, where he will receive his uniform and equipment. His wife will return to the United States on the President Roosevelt, now en route to Galway, and \will | third successive day today, with only leave here for Ireland on Wednes- | sporadic replies from the German French Again Shell Forts Below Baden B the Associated Press. tizally railroad and forts below Baden, just north of the Swiss frontier, The major part of the French fire seemed to be directed against the six forts in and around the Rock of Istein, iowering above the Rhine rapids and the Big Kembs Dam. Thousaads of women in England for the|are being trained to be nurses. JUST ARRIVED! NEW SHIPMENT OF DUBLIN TWIST COOL, IMPORTED FABRIC — A RALEIGH EXCLUSIVE FOR 14 YEARS $2 .75 Encore . . . by public demand . . . the aristocrat of summer suits. That famous cool fabric that thousands of Washington men prefer. The fabric they prefer because despite its coolness and softness, it has a "“way” of holding its shape that well-dressed men demand! from 20 distinct shades of Pewter Gray, Saddle Tan, Gulf Blue, or Mist Green, light or dark. Single or double breasted models in sizes to fit men of every type and every build. % Zephyr-weight Tropical Suits, cool, comfortable Choose $21.50 %* 1940 Palm Beach Suits, « new featherweight fabric_-_$16.75 * Dixie Weave Suits, « Hart Schaffner & Marx hit * Sports Coats, imported and domestic fabrics-.—-——---.$17.50 % Sports Slacks, colorful and cool fabrics. n 2 > STiMeLy NegDs 76 Palm Beach Ties Styled by Beau Brummell of washable, sun-resistant cloth. They’ll knot better, too. Newest patterns and colors _ 5 Ensemble Slacks fashioned as well as trousers PLUS a sports shirt that's cut comfortably. Herringbone weave cotton. Tan, green $3.95 “Vericool"” the most natu- ral shirt for Summer, be- cause it's just about the Blue, green, tan, sand pastels and white $2 lightest. Jantzen Streamliner Wool, and lastex yamn in a rapid-dry weave. Tailored for precision of fit with a high waist. avy, black with white $3.95 trim _ N 323Q 5t 3. M. White, Pres. Phone MICHIGAN 1600 Knox Cocoanut "Cocoacool,” the newest hat under the sun! weave crown and closed brim. keeps out the sun Open Lets in air and Hanan Touchstone A saddle oxford that's ready for lots of comfort- able Summer wear. White calf with black or tan sad- dle trim _ -8.95 Books Closed—All Charge Purchases Will Be Billed July 1st RALEICH HABERDASHER WASHINGTON'S FINEST MEN'S WEAR STORE 1310 F Street