Page Two
News Review <
Events tli
Devaluation of Dollar Brings
IS'RA and Steel Indi
More Fore
By EDWARD
T"\EVALCATI<">Xof :) > I :.>.r. a=i the
parches* : g Ma: $35 a f.r.e o - *e
caused a tcrmci! in the w- Is ::: -t
markets and an immediate result was a
great fl< w . I b ;l4ik
I; n from K?
^ the United sm:-s.
$ I The i -urM sterling
a and the franc m i i*
Wc pair.,'. " g
y enough to su : Pre- .
d*nt I: sevelc and
^ his c r.-Mry ad-.;?er-.
Later both the
, 7 .r.i a: : franc de^
clir.ed again. and the
_ , "... c: :. '.-i-. a was made
Prof. Wjrrer* ;r(. >r T; ? Fr#r.h
were alarmed by the drain on their
gold and expressed intense resentment
against the Azneri .-.a policy. charging
that the administratMa was making de
liberate efforts to em - irrass Fmdc
For the time being the administration
was prevented from driving the
dollar down tu .:s pr .- ted pari'y
points in foreign exchanges by the rising
tide of American dollars flowing
back to this country. But most nf
its financial experts were confident
that the oD.'? cents v.ii-.e would be
made to prevail after a reasonable
time to ai low f. r shake-: own. As
for the $35 an :: ce for _M. It is
the opinion of Prof. Ge? ?r?e F. Warren.
chief deviser of the experiment
that is under way. that the figure
.znust be raised if prices of commodities
are to be put up materially. Frank
E. Gannett, the Ii ...uo-ster newspaper
publisher, after a visit to the White
House and talking with both the
President and Professor Warren, said
in his Rochester Times-Union that he
had been convinced by those conversations
"that we shall continue to
raise the price of gold" and that the
$35 figure probably would succeed
only in preventing prices from slipping
and could hardly be expected to
raise them much.
Ky the President's devaluation stroke
a treasury deficit of Sl.OtjQ.OOO.OOO was
transformed overnight into a surplus
Pot SP73.710.037. The cut in gold content
of the dollar produced a dollar
profit of .r.i2,?W).S7 as of February
1 and a record cash balance of
$4,434,713.155.18. pending deduction of
the &!.<njO.<jG0.0uo stabilization fund.
The profit on the gold was paid into
the general fund of the treasury, and
the new dollar value of the treasury
gold supply was written into the books
at $7,0lS,2C3,fc5.70. The surplus did
not alter the official outlook for a
deficit of approximately that amount
at the close of the current fiscal year.
June 3o. in view of the extraordinary
expenditures or the President's recovery
program.
"VTTiA and the steel Industry came
into sharp conflict, and the NRa
to a certain extent backed dovu Executives
of all the steel companies
met and considered
the claim of
the national labor v
board to authority
given by the Presl- ?
dent to conduct eleclions
for employee . ;
representatives when I
a "substantial" num- ^
l?er request that action.
To this the w ..LcL
steel men took exception.
They issued a
statement saying the ^en* J?hnson
Industry intends "to resist all attacks"
upon company unions and that it holds
that the present plan of employee representation
complies with the Nit a.
The statement, however, declared the
steel industry "is co-operating wholeheartedly
with the President in his efforts
for national recovery and subscribes
fully to the princinle of cniw.
tive bargaining as provided in section
7 fa) of the national recovery act."
The XRA had given out a press
statement implying that all company
unions are dominated by employers.
This drew sharp criticism, and the
statement was retracted. Administrator
Johnson and NRA Counsel Donald
Richberg upheld the right of the
labor board as stated above. They asserted.
however, that the executive order
which said that representatives
elected by a majority of workers "have
been thereby designated to represent
all the employees," does not abridge
the rights of labor minorities to conduct
negotiations with employers.
_ It was Indicated unofficially ftat,
^^feAthls reference was made to prevent
either side from claiming an election
^^ unrepresentative because its adherents
^^^Bstayed away from the polls The NRA
B^^Btsteinent ssld that while selection of
H^^Bmajorlty representatives does not ro^^BBtrict
legal rights of smaller groups
The Cherokee Scout
of Current
ie W orld Over
Flood of Gold to America?
j5try?Planning for
ign Loans.
W. PICKARD
| to deal separately with employee*. Mns
a pra.tlca! proposition.** neither the j
em;; yer r.or the lahor board could |
Te expected to deal with "an indefi- j
r te n'ln.r^r of employee representa- I
t've? expre<sins every r ?ssible variety j
of opinion."
CENATOR BORAH of Idaho, carry on
his attack on abrogation of '
t" e ant:-tr:st laws by the NRA. won
t:.e appr oval of the seriate for a resolution
eaiLn^ for a report from the
federal trade commission on price fix:r.?'
by the steel companies under the
NRA rode. This rej>ort already has been
made to the President but it has not
been elven to the public. The Borah
resolution also asked for a study of
! Increases in gasoline prices.
/"\VLY ore representative voted
^ no" when the house of repre- j
sentatlves parsed on the bill to appropriate
SfOi Lfjno.OOo for continuat.on ;
j of c\VA and direct relief activities, t
The lone opponent was Representative '
! Oeorge Ii. Terrill of Texas. Democrat.
The money is to bo used by the fed- '
^ral emergency relief administration
f r keeping up the federal dole to the
idle for another year and for continuing
the Civil Works administration until
the early part of May. About 500
i millions is to be used f"r the former
purpose. It was said, and about 450
' for the CWA.
\1TITH little debate the senate
* ? passed the bill introduced by SenI
ator Iliram Johnson of California
which is designed to prevent the floating
in America of prill^
vate loans to coun^
tries now defaulting
Hp i.' 1 on past debts. Before
^ 1 passing it. the sena1
tors amended the
-* ( B uitiiMJi?- so ilia I it
I would not hamper the
M President's new
scheme to grant to
JggBH^ pB foreign nations loans
i Bfcl with which to buy
American goods. A
Sen. Hiram proviso was written in
ohnson declaring that loans
to foreign defaulters could still be
made by government owned corporations.
As it now stands, however, the Dill
puts in the hands of the administration
its most powerful weapon for
forcing payment of defaulted war
debts. No defaulting nation mav float
I any private loan In this country, and
any American aiding in the Illegal
flotation of a private loan to a defaulter
would be liable to five years
in jail and $10,000 In fines.
According to Chairman Jesse Jones
of the RFC. the President's plan calls
for the creation of a trading hank
which will partially underwrite extension
of credits to foreign purchasers
of American goods. The bank
would be entirely owned by the government.
so the arrangement would actually
be a partial government guarantee
of payment to the American
producer. The hank would be a division
of the RFC. The scheme Is
devised mainly to promote trade with
Russia and it is hoped the Soviet republic
will take much of our surplus
farm and industrial products.
Y^ILLIAM P. M'CRACKEX, who
* - v? as usMsiam secretary or commerce
for aeronautics in the Hoover I
administration, and three air line offi- !
cials cot into a jam ;
with the senate com- Ifr.
mittee that is invest!gating
air mail con- 1
tracts. All four of &?. J
them were cited to appear
before the senate
to show cause why jWfc A .1
they should not he
punished for contempt
McCracken practices I
law in Washington. fl |
The others are L. II. ' _ j
Brittin, vice president **' , i
of Northwest Air- M'Cracken
ways; Harris M. Hanshue, president
of Western Air Express, and Ollbert
Glvvln. Hanshue'a secretary. McCracken
has been under technical arrest
bnt this was vacated.
Chairman Black's report to the senate
showed that Brittin admitted that
he had removed from McCracken's office
and destroyed subpoenaed correspondence;
and also that GIvvId, on
order from Hanshue, had removed confidential
paper* since recovered by the
committee.
Senator Black also told the senate
that testimony before the committee
showed poet office contracts bad been
awarded "collnalvely and fraudulently"
and that former Postmaster Gan'
, Murphy, N. C., Friday,
eral Brown and McCracken participated
In a "secret meeting'* held Ln a
room adjacent to Brown's Post Office |
departmeat office at which the coun- \
try was divided Into certain maii
routes and contracts were distributed
among "particular'' operating companies.
The chairman declared that Brown
was a "heavy stockholder" in the
Pennsylvania railroad and other companies
interested in aviation, and
charged that the practice of distributing
contracts "ln secret'* was a violation
of the law.
IN A unanimous opinion the Supreme
* Court of the United States held
that ail persons accused of violating
the late national prohibition laws and
whose cases had not been finally adjudicated
by December 5 last, when
the Eighteenth amendment was repealed
should be set free. The opinion
held that repeal canceled the power of
prosecution.
According to the Department of Justice.
there were 9,576 prohibition
cases, with about 13.000 defendants,
pending in federal courts.
*"p HADE reviews say that January rec"rds
of retail distribution indicate
that consumer buying was the largest
in three years. Industrial production
averaged about 25 per cent higher
than January. 1933. Automobile factories,
steel plants and textile mills
all were expanding their production
and calling back their workers. In
ninny other Industries the improve- '
rnent was marked.
OOYALISTS, organizations of war
veterans, young patriots, and. of
course, the ever active Communists.
were doing their best to upset the government
of Premier
- Dnladler In France,
I and many of them
9^^^^ ' were even hopeful of
i ' overthrowing the republic
-all resulting
|| from the Bayonne
w . bond scandal that
la /' .afe caused the downfall
of Chautemps. The
Immediate cause of
the turmoil was the
ousting of Jean ChlEdouard
appe as prefect of
Daladier police of j.aris. This
Corsican politician has many powerful
friends and they and the opponents of
Daladier held the premier was making
Chiappe the scapegoat in the Bayonne
affair. The latter's enthusiastic friends
started a series of riotous demonstrations
and the situation became so
threatening that heavy reinforcements
of troops were brought Into the city
from nearby garrisons. It was feared
the police could not handle the manifestations
expected when Daladier
should present his new ministry to
parliament.
fUST as the Soviet Russian government
always denies responsibility
for the doings of the Communist party
with which it is identical, so Chancellor
Hitler disclaims responsibility, for
himself and the government of Germany,
for the Nazi camnairn of vio
lence in Austria. In neither case is
the world deceived. But realization
of the truth doesn't help poor Austria,
and the big European powers do not
seem Inclined to interfere. When the
German-Polish treaty was signed, Hitler
surrendered the German claims to
the Polish corridor for at least ten
years. To compensate the Germans,
he appears determined to Incorporate
Austria in his National Socialist state.
I If it comes to a matter of armed conflict?and
It well may?Austria will be
helpless. She has made an appeal to
the League of Nations, but Germany
doesn't recognize the league any
longer.
Prince Ernst von Starhemberg, leader
of the Austrian heirawehr. the
armed home guard, and other patriotic
leaders are not wholly trustful of
Chancellor Dollfuss* ability to withstand
the Nazi attacks, and perhaps
they doubt his good faith. Thp hpim
wehr has virtually taken possession of
the Austrian Tyrol, where the Nazi
propagandists have been especially active.
The guard occupied Innsbruck
and a commission of heimwehr, peasant
league and Catholic storm troop
leaders was formed to replace the
elected provincial government.
Foreign ministers of Greece, Rumania,
Turkey and Jugoslavia completed
their negotiations in Belgrade
and initialed the much discussed Balkan
treaty which is Intended to guarantee
territorial security to its members
for ten years. Bulgaria and Albania
were not represented but both
may sign the pact later. The text of
the treaty was not made public.
OGDEN L MILLS, who, whether or
not you like him. Is one of the
most forceful leaders of the Republican
party, has often been spoken of
aa a possible or even probable candidate
for the G. O. P. Presidential nomination
in 1936. But the New Yorker
haa now removed himaelf from that
category. While in California tc tea
Herbert Hoover and other*, lfr. Mill*
told the press T moat certainly have
no Intention of becoming a candidate.
Nor will f mix* In local or factional
politic*."
by W?tT% Hwpmw Oil?.
February 16, 1934
Distillery Grain
to Aid Dairymen
Cattle Feeders May Be Able
to Obtain Additional
Supply Soon.
There will be a "new deal" in ra
tions for many of the dairy cows when
distillers' dried grains and brewers
dried grains will be available in great
ly increased quantities.
Both these types of grains are
looked upon with favor by dairy cat
tlemen. The largest outlet for then
is In proprietary mixed feeds for dairj
cattle. Considerable quantities alsc
are bought in unmixed form by dalrj
cattle feeders to he used as proteir
supplements in dairy rations.
Feeding tests with milk cows have
shown that distillers' dried grains an
eoual to mixtures of wheat bran, cot
tonseed meal and linseed meal con
taining equal amounts of protein, am
that distillers' grains from corn an
more valuable than those from rye
Further, distillers' grains were founr
more valuable than brewers' grains
Other comparisons have shown dis
tillers' grains superior to corn glutei
feed, and brewers' grains oetter that
wheat bran.
Dairy cattle feeders contemplatinj
the purchase of one of these feed:
should be guided bv the cos* of *
pound of protein in that feed in i
comparison with the cost in othei
available protein supplements common
ly used for dairy cattle. Buyers o
mixed feeds containing considerabb
proportions of distillers' and brewers
grains will find the analyses as guar
anteed by the manufacturer are indi
pqrifa nf tKn .... I....
When made largely from corn, dip
[ tillers' grains as a rule contain abou
| 32 per cent protein. The fat, or oi
content Is high, being about 11 pe
cent, and the fiber content Is low
ranging from about 10 to 12 per cenl
Distillers* grains made largely fror
rye contain from 1G to 25 per cen
protein with an average of about 1
per cent. The fat is about 7 per cen
and the fiber about 1G per cent, al
though the fiber may range from 12 t
18 per cent. When corn, rye and oc
casionally other grains are combine
by the distiller, the resulting grain
have a composition lying between th
extremes for corn and rye and ai
proach one or the other depending ur
on the proportions used.
Brewers' dried grains contain froi
22 to 25 per cent protein. The fat cot
tent is about 7 per cent and the flbe
about 13 per cent.
Several other products from thes
and allied industries often are aval
able In the form of malt sprouts, drie
malt grains and yeast and vinegi
| grains.
Clover Seed Is Scarce;
Other Crops Are Shoi
Producers of clover seed will mei
with little competition from Europe?
producers this year. In spite of sma
domestic crops. Supplies In Euroj
are smaller than usual. The red cl
v?r seed crop Is just two-thirds I
large as last year's. Alsike seeu pr
duction Is 30 per cent below averag
and the sweet clover seed crop is on
fifth less than that of last year, whh
was the smxllest in ten yea.s. Droug;
and hot weather, which curtailed tl
production of clover seed, helped
increase the yield of alfalfa seed, i
though almost twice as large as la
year, alfalfa seed yields this year we
near normal. The carryover is tl
smallest in recent years.
Demand for Horses
Receipts of horses and mules
public stock yards were 221.142 f
the first eight months of 1933. as coi
pared with 171.587 for the same peril
in 1932. almost a 30 per cent gai
Demand has overtaken supply, says
L. Harvey of the animal husband
division. University farm. St. Pat
Tfealers are scouring the whole con
try buying up all the horses and mul
thnt fflrmore ??"? "-n"?~ ?? ?" "
a.c mums 10 ?eji. p oa
yearlings, and two-year olds are est
dally in demand, and fillies bring mo
than geldings of equal merit. T
1930 census showed that 86 out
each 100 farms were operated entii
ly with horses or mules.
Agricultural Rakings
Thirty states now have farm prot<
tlve committees.
Meat cures better If the animal h
not been fed for 24 hours before kl
ing.
At Cornell, a wheat which is pn
tlcallj Identical with the wild whc
of Palestine has been made by era
Ing a cultivated wheat with a dun
type.
a
Cotton growers is North Caroll
will receive an average of $11.1ft
acre for withholding land from pi
| dnctics tar 1994, my state college aj
| delists.
MercolizedWax
f\(eeps Skin Young
Absorb blemishes and discolors tions using
Mercolized Wax daily as directed. Invisible
particles of aged skin are freed and all
delects such as blackheads, tan, freckles and
large pores disappear. Skin is then beautifully
clear, velvety and so soft?face looks
years younger. Mercolized Wax brings oat
your hidden beauty. At all leading druggists.
I Powdered Saxolite ?i
I Reduces wrinkles and other wcMicna. Sim- I
I piv dissolve one ounoe S&zoLte in naif-pint I
| anted hotel and use daily as fsoe lotion. |
Why the Sudden
Change to Liquid
Laxatives?
Doctors have always recognized the
value of the laxative whose dose can
he measured, a ad whose action can
be thus regulated to suit individual
need.
1he puDiic. too. is last returning
f to the use of liauid laxatives. People
? have learned that a properly prepared
liquid laxative brings a perfect
movement without any discomfort
at the time, or after.
The dose of a liquid laxative can
be varied to suit the needs of the
individual. The action can thus be
f regulated. It forms no habit; you
1 need not take a "double dose" a day
r or two later. Nor will a miid liquid
laxative irritate the kidneys.
The wrong cathartic may often do
a more harm than good.
Dr. Caldwell's Syrup Pepsin is a
3 prescription, and is perfectly safe.
t Its laxative action is based on senna
I- , ?a natural laxative. The bowels will
0 not become dependent on this form
of help. Dr. Caldwell's Syrup Pepsin
^ is at all druggists. Member N. B. A.
s
" A. Three Days' Cough
Is Your Danger Signal
Don't let them get a strangle
;r hold. Fight germs quickly. Creomulsion
combines 7 major helps in
,e one. Powenul but harmless. I'leas1
ant to take. No narcotics. Your
d own druggist Is authorized to refund
ir your money on the spot if your
cough or cold Is not relieved by
Creomulsion. (adv.)
i GIRL TO WOMAN
at Mrs. Hester Cisoo of
2429 Wolf St., Brunswick,
111 ^Hjj^FGa.. said: "\Vhen I was a
ill young girl growing. I became
rundown but Dr.
Wiy Pierce's Favorite PraeripO
w^L- W tion 8000 h*d me feeling
-r fine and I developed naturally.
After I married I
<y again relied upon it to
keep up my strength dore*
i"K expectancy. I became nervous, irritable
0. and weary, would feel so weak. Three bottle*
, of the Prescription was all I had to take."
n New size, tablets 50 cts.. liquid Jl.OOi
ht .
ie
!i? Tired.. Nervous
E Wife
^ Wins Back
!. ^Fj Pepl
,! ^^^1 tJER raw ntraa
ML Ai were soothed.
At She banished that
or - j *'dead tired" feel,
, . ' ing.Wonnewyouth31
ful color?restful nights, active days?all because
she rid her system of bowel - clogging
wastes that were sapping her vitality. NIK Tab*
ill. lets (Nature** Remedy)?the mild. safe, all.
vegetable laxative?worked the transformation.
^ Try it for constipation, biliousness, headry
aches, dizzy spells,
" "TUNVS"
*
re .
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X OO NOT DISANOINT! N
^ ?_**??A-.71' OdklMj
:; SEED sSb^S"
ic lussasuS^H^S^S-I"
ITCHING I
Whum itowm wtiliiw I
lh? 'Hl.whw ??*? ? with I
Resinoll