The Key West Citizen Newspaper, December 14, 1936, Page 2

PAGE TWO The Key West Citizen Published Daily Except Sunday By THE CITIZEN PUBLISHING CO. INO. 1. P. ARTMAN, President 4JUE ALLEN, Assistant Business Manager From The Citizen Building Cotner Greene and Ann Streets Only Daily Newspaper in Key West and Monroe County. st, Florida, scOnd class matter FIFTY-SIXTH YEAR Member of the Associated Press he Associated Pregs is exclusively entitled to use for republication of all news dispatches credited to it-or-nat otherwise credited in this paper and also the lucat news~pubjished here, y SUBSCRIPTION RATES entered at Key | One Year six Months Tree Mont one Month Weekly . Made known ‘i Apeppaniay RATES SPECIAL NOTICE All reading notices, cards of thanks, resolutions of respect, obituary netices, etc. will be charged for at the rate of 16 cents a line. Notices for entertaimments by churches frum which & revenue is to be derived are 5 cents a line. The Citizen is an open forum and invites discus- sion of public issues and subjects of local or general interest but it will not publish anonymous communi- rations. IMPROVEMENTS FOR KEY WEST ADVOCATED BY THE CITIZEN Water and Sewerage. Bridges to complete Road to Main land. Free Port. Hotels and Apartments, Rathing Pavilion, Ahports—-Land and Sea. Consolidation of County and City Governments. Soon it will be Mr. and Mrs. David Windsor. The former king of England decided to let George do it. Dead men tell no tales but there are a lot of tales told on dead men. Trading at home is common sense for the man who makes his money in Key West. The Tampa Tribune advises edi- torially that “Chrastmas, Florida, is again on the map.” We don’t believe it. Former King Edward has proved once more that the negative virtues are the rarest of all in monarchs and dictators. Italy, Germany and Japan, if they decide to get some land in South America, could make it interesting for advocates of the Monroe Doctrine. The value of the English kingdom is going up with the market. Richard III was willing to part with it for a horse; Edward VIII required a woman. It is said of the Count of Covadonga, who also renounced a throne, that he con- sidered his two happiest days, when he married the Cuban commoner and when he divorced her. Beforé the “constitutional crisis”, Former King Edward’s mail was delivered by a postman on a bicycle at Fort Bel- vedere. During the few days previous to his abdication, it required a truck. The English “ministers, members of + parliament, peers and _ peeresses, etc,’ | JAPAN MOVING AGAIN The Mongol attack upon Suiyuan Province indicates that Japanese and Chinese are not near an understanding. Having succeeded in wresting Man- chukuo from China, the Japanese military regime now seeks to continue its march westward and to create another buffer state between China and Russia. News from China indicates a determination to! resist this effort which the Chinese recog- nize as a Japanese attempt to further weaken China. It is interesting to observe that Major- General Gun Hashimoto, Japanese Chiet of Staff in North China, admits his coun- try’s sympathy with the Mongol enter- prise and in establishing a barrier between China and Russia. The fight in Suiyuan, he says, is entirely China’s business, but if it endangers Manchukuo’s borders, “We would necessarily have to go in and kick the Chinese out.” In the meantime, negotiations be- tween Japan and China make little prog- ress toward the settlement of questions and it is freely predicted that the Chinese will ultimately reject the more stringent demands of Tokyo. This will precipitate something of a crisis because Japan is not expected to back down. For some time there has been-an sds: that if Japan becomes involved in a strug- gle with China, Soviet Russia will give the Chinese assistance. This may be true b on the other hand, word from East is that Tokyo and Berlin en- tered into an agreement to put up a joint front against Communism. Inasmuch as Hitler has repeatedly indicated a desire to obtain part of Russian territory and Japan’s territorial] intentions in China have been plain for some time, it is easy to un- derstand what their anti-Communisw agreement means, A FLOOD OF DIVIDENDS Stockholders of American corpora- tions are experiencing a new kind of flood —one of dividends, extra, special and reg- ular—that is without equal in the history of the United States. Financial sources state that the peak for last month will probably pass $800,- 000,000 when final figures are known and that this exceeds December, 1930, when the previous records was set at not quite $600,000,000. Several causes are advanced for this phenomenal flow of dividends to investors in corporate stock, but the stream of each from corporate treasuries is inspired for the most part by a desire to escape the new corporation surplus tax, passed at the last } session of Congress and applicable to] operations for the present calendar year. We do not claim to be any authority upon such matters but we carefully read ; the debate that accompanied the passage of the surplus tax bill in Congress and it seemed to us, then, as it appears now, that the tax is essentially just. parently, a few corrections that might be made in the interest of corporations in special circumstances and the supposition is that they will be made. vest The essence of the situation, however, is that the amendment should com¢! frdm friends of the present act, not its enemies. PERIL IN “TOO BIG” BUSINESS... Business men generally agree that |, Jesse H. Jones, head of the RFC, has done a good job. The fact that the huge gov- ernment lending agency, which bailed out (probably meaning the people) should be} some of the nation’s largest business con- grateful that the Tampa Tribune was not sitting on the throne. What that paper would do to them as expressed in a recent }- editorial would just about settle their hash, but dictators are not so welcome in Albion as they are in Germany, Italy and Russia. a onions to ward off colds they will also de- velop a form of halitosis——Times-Union. We still think so. Undoubtedly business is making a game effort to survive the attacks made upon it by the Administration. Christmas sales are reported as being ‘the highest since 1929.—Key West Sunday Star. A debauch by intemperance is followed by a headache; an orgy of spending, especially when the money is borrowed, leaves desti- tution with all its consequences in its wake. What happened in 1929! Hast thou for- gotten, or didst not thee suffer like the rest of us? Key Westesitieemthinks if one eats; | cerns, is not going to lose any money in- dicates this. The chairman of the RFC recently made a speech over the radio, in which he in- sisted that it is “certainly not in the best interest of our country that control of wealth, industry and credit be concentrated in a few hands.” He thought that the con- tinued struggle for corporate expansion in this country contains danger in that it puts “too much power” in too few hands and too many people in the employe class. Mr. Jones seems to have the right idea. The people of this country are some- what afraid of “big business” and they have become convinced that it is danger- ous. Moreover, whether everybody real- izes it or not, the people of the United States have determined that if a few men are to have vast power in regards to wealth, industry and credit that they will elect the “few men.” Later on, if they misbehave, the people can elect somebody else in their place. There are, ap-| THE KEY WEST CITIZEN Note: This is the third of a series of articles by Dr. Spahr discussing the commodity dollar plan. Commodity dollar advocates incor- rectly assume that the change in for- eign exchange parities, which will re- sult from changes in the price of gold, level very quickly. The prices of commodities entering foreign trade will tend to change as foreign ex- change: parities change, provid- f ed there are no \ counteracting factorsin the i form of tariffs and other for- eign trade re- strictions. But our foreign trade ordinarily does rot amount to more than 6 to 10 per cent of our domestic trade; therefore, the assumption that a change in the prices of this small proportion of commod- ities wll affect our domestie price Jevel appreciably is not well taken. The extent of the effect will be un- prédittable and may even be nullified by other offsetting and unpredictable factors. There is na valid reason why those producers, whose products enter for- eign frade, or why exporters or im- +s;'sholild be kept in a perpetual state of jitters merely because the iug- glers of foreign exchange rates hope ough a i advocates forget or do not undersiand sume of the major implications involved in the fact that they are concerning themselves with a mathematical aver- age of prices when they deal with the price level. A scrutiny of the arguments of those who favor the commodity dollar often will reveal that some of its advocates are interested in the prices of individ- ual commedities, not in the average of prices. For example, Senator Elmer Thomas, on announcing on November 9. 1936, tnat he was preparing a bill on the commodity dollar, gave himse!t away by saying that the price of wheat should be $1.50 per bushel and the price of cotton 20 cents per pound. A defender of an average of price: cannot concern himself with the prices of individual commodities, tf Senator Thomas wishes to see the prices of wheet :nd cotton rise, how can he bring this about and yet keep ecccccccccccccoce Today In History,Today’s Birthdays 1799—Died—George Washing-! ton, at Mount Vernon, aged. 67—| seareely retired after the toi's of Ea so many years. “First first in peace, and first iheatts of his countrymen.” in in war, ; -1819—Alabama admitted pee hood as the 22nd State. to ‘ 1889—American Political and Social gan zed in New York. Science or- 1890—Killed—in brawl police seeking to arrest him, ting Bull, noted Sioux chief. 19108 NGdrnegie established Cayngaie Peace Fund of $10,000,- — 2oald Amundsen of Nor- 0 reach theSovth Pole just a month later Capt. Robert Scott of England. reached Pole} 1932—France’s Parliament vot- ed to defer payment of war debt to United States. SETTTOTOITOTOOOET I The Easiest Way For You To Pay For A Home is to pay for it as you pay rent. The logicak ay is to pay monthly, out of income, an install: on the principal and the interest, etc., and over a given period of years, pay off the mortgage and have the house free of all di very much like buying a house and then it to yourself. CREDIT. OL hh hh had ddd hd db § Diab hiensnabtipictianne)..,° : spmememenemnnientimetemrnaiatyine= | sere Academy of! with} it-' dens, N. Y., famed pianist, born Indian, in Russia, 62 years ago. _the music, born in Mexico arity, 50 H if { { 1 CONSULT US HOW YOU CAN BUILD'OR BUY A HOME OR REPAIR OR MODERNIZE ANY TYPE OF BUILDING ON INSURED The First National Bank ot Key West Member of the Federal Deposit Insuran¢p Corporation wcrcccreresezsases You and Your Nation’s Affairs Commodity Dollar Fallacies | By WALTER E. SPAHR Chairman, Department of Economics, New York University the average of prices stable? Would he try to depress other prices? Should the price level rise, it would be necessary to lower the price of gold—that is, make an ounce of gold yield fewer dollars of larger size. This would depress the prices of those staples, such as wheat and cotton, en- tering foreign trade. Is there any rea- son why the producers of wheat and cotton should have their prices arti- ficially depressed merely because a scarcity of meat and copper. for ex- ample, may have caused their prices, and thus the’ average of prices, to rise? The commodity dollar advocates overlook the vital fact that most peo- ple are more interested in individual prices than in an average of prices. People are, and must be, more con- cerned with the prices of the goods anu services from which their in- comes are derived than with the prices of things for which they spend their incomes. They must get an in- | come before they can spend it. People { complain little of high prices if they are obtaining sufficient income to pur- chase these high priced goods with ease. In times of depression people say “These low prices do us no: good be- cause we have no income. We. would rather have an income and higher prices.” It is for these teasons ‘that the first interest of all :producers .is in the prices of the few things. they sell, and that they have less interest. in the many things they buy’ with ‘their ‘in? comes. Thus’ their! interest in the bé+ havior of an average of prices is con, siderably less than their interest in the behavior of the prices‘of the few things which provide their’ incomes. As a consequence, it is hardly rea- sonable to suppose that producers of cotton and wheat wil) be ‘willing to have their prices hammered down in the interest of an average of prices in which their interest is decidedly sec- ondary. The commodity dollar advocates ignore the very important-fact that the relationship between prices may be of far more significance than the behavior of an average of prices. We have seen great stress laid upon this notion in our recent efforts to ‘bring agricultural prices into closer har- mony with industrial prices, and the incomes of farmers into better har- mony with their costs. As rising agri- cultural prices restore greater har- mony in the economic system, and yet at the same time cause a re in the average of prices, should these agri- cultural prices again be depressed and greater disharmony again be intro- duced merely to give us a steady aver- age of prices? The answer is clearly “no.” (Address questions to the author care of this newspaper) je Charles L. Seeger of New pv teacher of music, Resettle- ment Administration ‘director . of | yeats ago. « . Maj. James H. Dolittle of ;She'l Petroleum, St. uis, famed |fyer, born at Alameda, Cal., 40 years ago. Jane Cowl, actress, born in Bos- ton, 52 years ago. J@ef Lhevinne of Kew Gar- ° Gecsea s. Gibbs, Postal’ Te'egraypit- its York, born at Harlay ~ years| ago. William E. Levis, president of Owens-Il'inois Glass Co., born at A‘ton, Ill, 46 years agvt Duke of York, new kin ing of Eng- land, born 51 years agoy | | N iN N N N N N N & \ N N : N nt =. The Duval street white way will be lit up this evening from Front ito Angela streets under the pres- 22d was attempting to dump © jent arrangement for a period of as months. The lights will burn for six hours each evening in the wynter and four hours in summer. {During the winter current will be turned on at 6 o’clock and grad- ually later as the days get short- er. The members of the white way committee have succeeded in collecting sufficient funds to do this. It was hoped the service would reach as far as Petronia street but the subscriptions the block beyond Alngela were not in ; sufficient to warrant this expendi- ture. Three merchants in the block contributed. G. Kirchik, $27; Central Drug company, $27; iF, Mastrajani, $13.50. They deem it a matter of justice to name those willing and were progres- sive enough to assume their por- tion of the indebtedness to se- cure, the lighting of the block, Hamilton M. Wright, head of a newspaper syndicate, believes that great.travel will come to Key West with the completion of the oversea highway. Discussing this Mr. Wright said that long before the first issue of the bonds were voted for the highway we began to supply the press with articles about the marvelous road from the mainland to Key West. These articles were published ail over the world and are still being pub- lished. The Florida East Coast Railway was anxious to have us publish any constructive articles which would help the East Coast of Florida. The road is already an important asset to Key West and Key West is now one of the most beautiful regions in world, Members of the Robert J. Perry Chapter Order of DeMolays will convene in a largely attended meeting in Scottish Rite hall this evening at the usual hour. The main item of business will be the quarterly election of officers, the results of which will appear in The Citizen tomorrow. A colored man about 20 vears old was accidently drowned at Long Key Fishing Camp | KSOOOOTOOTOTEOOOTEOTOET ESET TD RADIO LAMPS A VA FO COVE CHAR WITH FURNITURE floor oil. Each entire + the BASES. SMOKERS’ STAND $1.25 BRIGHT CHROMIUM BASE AND STAND TRIMMED IN BLACK ENAMEL THE RIGHT GIFT FOR A MAN. 32 OZ. BOTTLE Good for any kind of furniture. Can be used as a SOUTH FLORIDA CONTRACTING & ENGINEERING CO. “Your Home Is Worthy Of The Best™ White and Eliza Streets MONDAY, DECEMBER 14 1936: He was about 20' County Judge Hugh notified of te éoe= Oday Ss Horoscope Togar promuses Sc. ter a ae yer or politician. There Bugstee ape srt tie Gispestien = aggpmesere hatin, an aaa uve ae evidence of The negro was employed me = ghee: oct cates. success wil come @ CrET)- thing carpet poubly @ ee == ning of i wet :urmemed wheelbarrow lead of trash imte the water over a bulkhead, be lest his balance and fell imte about 15 feet of water. The barrow ficat- ed and indicated what had hap pened. Weapens supped OF mg of The Cuban team which is called i the amateur champions ef the is land, left this morning for Ha- vana having finished the series of] four games scheduled fer this: city. Thty met each of the four clubs in the city and won three of the four games. The Monroe team won the only game which went to a local team. The city bas = force cleanimg cut ent sections the sewers Editorial comment: The ides of a free press is to have it 20 that notices cam be imserted fer nothing, according to the ap parent opinion of a great many people. A force of men is today mployed in unleading the barge Matanzas was towed inte this port day. The lumber is being up on the Porter dock. bem ber which vester- tacked Mayor Leslie A. Curry has warned all merchants whe have fireworks for sale against dispos- REGULAR AND RELIABLE FREIGHT SERVICE BETWEEN Key West and Miami NOW MAKING DELIVERIES AT KEY WEST —— TUESDAY, WEDNESDAY, FRIDAY AND } yester-; 98c RIETY OF ATTRACTIVE LAMPS R RADIO, END TABLES, ET RED WAGON, GIRL WITH FAN 10T, AND A FEW SMALL LAMP: si aa GLASS SHADES AND VEGETABLE BINS Attractivels fmished m lettuce en. Bas three $1.25 a 30¢ 'GSIIIIIIIIL #2 iLO #2 LILI LIL ILD,