? :
The Alamance gleaner
VOL. LVIX. \ ? ?
^ GRAHAM, IM, C., THURSDAY MARCH 16, 1933. ~~~ m
News Review of Current
Events the World Over
Congress Passes Legislation Asked by President to End the
Banking Crisis?Japanese Complete the
Conquest of Jehol.
By EDWARD W. PICKARD
rMTiiiMomM - *? - r- ? ' *
u " niMjiun ui me uurrunvjr iv
the extent of billions of dollars
will result from the leglslnllon which
President Roosevelt asked of the
? pvfninnlinnrv rpskwxm
>f congress nnd wlfch
was enacted withtn a
few hours after 'the
new congress was
convened on Thurs
day, March 9. The
new currency Is based
not on gold, but on
the liquid assets of
the banks. The plan
was devised after
long hours of confer
ence by the President,
otrcrerary 01 tne Treasury William ii
Woodin and a number of financial ad
visers of the administration, and it
was the main feature of their solution
of the banking crisis that was par
alyzing the nation.
The other chief points In the legisla
tion which the President called for in
his. brief but spirited message were:
Continued suspension of gold pay
ments and embargo on exports of gold.
Clothing of the President with the
powers of a financial dictator.
Continuation of the national bank
ing holiday, wholly or in port, pending
complete reopening of the banks.
Legalization of the bank holiday
proclamation of March 5 and all meas
ures adopted by the treasury to carry
It into effect
Because the new currency is not
backed by gold it Is called federal re
serve bank notes to distinguish it from
federal reserve notes which are backed
by gold.
To what extent If any, Inflation of
the currency will be produced by this
increase in the volume of money was
one of the big questions Involved in
the Roosevelt plan.
That inflation will be the conse
quence was a conclusion widely
reached In financial and commercial
circles, with the result that a leap up
ward of commodity and security prices
was looked for the moment the ex
changes reopen.
The act creating the new currency
liberalizes the provisions of the Glass
Stengall act by allowing banks to issue
notes with no gold reserve behind
them. The notes thus issued are
barked only by United States bonds In
the same manner as national bank
notes issued by national banks. \( fur
ther liberalizes section 10a of fne fed
era I reserve act as amended by the
Glass Stengall act so as to erinble banks
to obtain currency on "liquid assets"
oi a character not previously eligible
One of the effects oi the legislation
will be to produce q unified banking
system. Only member banks of the
federal reserve system are able to
avail themselves of the privileges af
forded by this legislation to convert
assets previously Ineligible Into cur
rency. State banks ure compelled to
Join the federal system In order to ob
tain the funds that will enable them
Another foreseen efiert Is the weed
ing otil of weak bunks. Institutions
onnhle to furnish liquid nssets for cur
rency will be nimble fo reopen. Others
will be able to remain open to the
extent ot their liquidity pending at
least a recovery of general public con
fidence in banks.
Legislation to stop hoarding al^o
was considered by congress and meas
ures for reaching ajid punishing the
hoarders of currenry whose withdrawal
of de|H)slts brought on* the panic and
caused the closing of the banks were
discussed by the administration and
leaders of the senate and house. As
a preliminary move In this direction
the federal reserve board at the In
stance o; Mr. Roosevelt, sent tele
graphic orders to all fetleral reserve
banks to furnish by March 13, lists of
persons who have withdrawn gold
since February t, and had not by that
time redeposited their gold with
drawn is.
FOR days there was considerable con
fusion concerning the banking situ
alien mainly because of differences be
tween the President's proclamation
and the orders issued by governors of
various states. This was especially
true in Sew York and Illinois. Pay
b> day Secretary Wood in Issued or
ders modifying those In the govern
meiit'g proclamation closing down all
b. i ks. but there was much uiisunder
standing of his regulations regarding
limiting opening of the institutions.
Clearing houses were busy holding
meetings but failed to live up to their
name by clearing up the situation and
the tanks were uncertain of both their
powers sod their responsibilities.
in many cities and towns banks
were open tc carry on limited activi
ties that were required to provide
food, foodstuffs and medicines and for
the meeting of pay rolls. Throughout
the country preparations were made
for the Issuance of scrip, pending the
receipt of the necessary authority
from Washington. Secretary Woodin,
however, ruled against scrip, though
he sanctioned the Issuance In various I
localities of clearing bouse certificates
against sound assets of banks for use
as an emergency circulating medium.
Despite all the confusion and Incon
venience, the American public re
mained fnlrly calm and appeared to
have confidence in ('resident Itoose
veit and his advisers.
Following the enactment of the leg
islation for the reopening ot the banks
the President asked congress for au
thority to cut an estimated $500,000,
000 out of government expenditures
by cutting government salaries up to
15 per cent, and by drastic reductions
in payments to veterans. It Is ex
pected that another $200,000,000 will
be saved by the reorganization and ?
combining of many government de
partments, authorization for which,
was passed Id the closing days of the
last congress. i
Democratic membership of si3
in the bouse of representatives
gives them an unwieldy majority, and
the certain consequence Is Intrn-party
wrangling. At present
the control seems to
be In the hands of
Speaker Henry Italney
and two allies. Floor
Leader Byrns and
Representative Ctillen,
leader of the Tam
many delegation from
New York. Opposed
to them Is a faction
headed by McDuffle of
Alabama, who sought
vainly to be elected
speakeu. It was said
actciui ui me aiaDaman s most active
supporters were quietly Informed that
they would be punished by being shift
ed from Important committees to minor
assignments.
Senator James Hamilton Lewis of
Illinois was elected whip of the Demo
cratic majority In the senate, and
Senator Joe Robinson of Arkansas was
chosen to be senate lender. Also*
parly authority was made stronger
than It has been for many years. The
caucus agreed that the vole of any fu
ture caucus upon any measure recom
mended by the President shonld be
binding upon all except those who ex
cused themselves from voting for
cause. It was further agreed that a
simple majority, Instead of the more
customary two-thirds majority, should
make the action of Ibe caucus bind
ing and that two-thirds of the whole
number of Democratic senators should
constitute a caucus.
The caucus further chose Senator
Kendrlck of Wyoming as assistant
lender. Senator Key Pittmno as Dem<>
crallc candidate for president pro tem
pore. Rdward Halsey as candidate for
secretary of the senate, Chesley W.
Jurney as candidate for sergeant at
arms, and L. L. Ullfle as secretary to
the majority.
FOLLOWING out the campaign plan
devised by LleuL Gen. Kunlakl
Kotso, the Japanese armies virtually
completed 'he conquest of the province
of Jehol. The Chinese ^pp-gQ.
governor fled and all |
the Chinese troopi
were forced out after
a Inst defensive strug
gle at Koupeikow, a
pass In the Great
Wall Japanese planes
first bombed the Chi
neSe positions there,
and then General
Kawahara's brigade
took the place. The
Japanese thus com
nl/.t/ul Itin coi tti ra nf
\J n mi IIIV OdOUIV v>
2.'i0 miles of the Great Wall, estending
from the Inner Mongolia to the Tellow
sea.
The Chinese fled toward Peiping and
the confusion and fright In that city
led the authorities to establish martini
law The Japanese said they would
not push on to Peiping unless forced
to by reprisals.^gainst their country
men In that city. Marshal Chang
Hsueh-llang was severely criticised for
the loss of Jehol and resigned as mill
tary overlord of North Cblca, accept
ing the blame and asking thai the na
tional government relieve biui of all
posts
Maxim Lltvlnov, foreign commissar
or Russia, bluntly informed I lie- I .vague
of Nations that the Soviet government
would not participate In the doings of
the league committee set up to handle
the Slno Japanese quarrel.
rjUKlNG Its brief special session
that convened on inaugural day j
the senate confirmed these appoint j
ments by tlie President:
I'rof. Itnymond Midey of Columbia
as nn assistant secretary of state. |
William Phillips of Massachusetts, t
as undersecretary of stale, who will be |
directly In charge and accountable to ;
Secretary llulL
Wilbur \J Ctfrr of New York reap
pointed as assistant secretary of state
llenry Murgenthaii, Jr., of New York,
member of the federal farm hoard.
William F. Stevenson of South
Carolina, member of the federal home
loan bank board.
T. Dwight Webb of Tennessee, mem
ber of the home loan board.
THE I-os Angeles section of South
ern California, covering an urea
from Ventura on the north to San
IMego on the south and extending in
land for some 30 tulles, suffered severe
earthquake attacks on Friday evening,
March 10, causing 1211 deaths. Injury
to more than 4,300 and property loss
runtting Into the millions.
Between 3:53 and 10:59 14 distinctly
violent shocks had occurred, the Hrst
one of which did the greater purt of
the damage and caused all the loss of
life
Long Bench suffered the greatest
loss of life and proportionately the
greatest property damage. At that
-flOint 65 people were killed and 1,000
/Injured. At l.os Angeles 12 people
were killed and some 3,000 were In
jured. Other towns suffering severely
and at which deaths occurred were
Watts, 4 dead; Cauipton, 13 dead;
Santa Ana, 3 dead; Huntington Park,
12 dead; San Pedro, 2 dend; Wilming
ton, 1 dead; Bellflower, 3 dend; Ar
tesia, 4 dead; Hermosn Beach, 1 dend;
Garden Grove, 1 dead.
Fire In many of the towns, and es
peclally l-ong Bench and l,os Angeles,
added to the terror, but fortunately
the water mains were not seriously
damaged and the Hrernen were able to
cope with the flames.
Regular army troops at Fort Mc
Arthur were ordered to co operate with
the police in preserving order, and
ships of th? navy from San Diego
were dispatched to points along the
coast to render aid, naval surgeons
providing aid and medicines for the
injured.
THOUGH It was generally admitted i
that the world disarmament con- |
ference In Geneva was In a bad way, j
the British started to make a last ef
fort to revive it or at ??
least to salvage some
thing from Its work.
With this In mind.
Crime Minister Mac
Donald and Sir John
Simon, foreign secre
tary, went to the
Swiss city to sec whai
could be done. They
denied they had any
definite plan of aC'
Hon, but they hoped
to gel Premier Daln
dier of France and
v^minceiior rimer ot uennaiiy 10
gether on some arrangement that
would prevent the utter breakdown of
the conference.
Sir John Simon said befon leaving
London that one of the first Issues he
and Mr. MacDonald would take up In
Geneva would be the fact that no
other nations had followed Great
Britain's lead In Imposing an arms
embargo against China ojjfi Japan. !
which, as he rem.irked, "leaves llrlt
aln In a situation which ennnot be al
lowed to continue."
WHEN congress appropriated j
18,440,000 for the annual ex
penses of the bureau of prohibition
enforcement it stipulated that none of
the money was to be spent on wire
tapping or the purchase of ti?|iior a*
evidence. These provisions do not be
come effective until July I. hut Amos
W. W. Woodcock has ordered them in
to efTect now. pointing out that ?cases
made contrary to them now probably i
will be tried after these provisions tie
come law."
The result of the order. Mr. Wood
cock said, will mean a complete
change In enforcement methyls and
-will cause this bureau to operate al
most exclusively against the tiianufnc
fUlcra sod transporters' of liquor.
This, naturally. Is good news to the
operators of night clubs and speak
easies.
"IT Hit EE days after completing his j
t ninth consecutive term In the
tMMSSt of representatives. Will ft Wood !
of Indians died quite unexpectedly In
New York, lie was about to sail on a
two months' cruis^hf the Mediterra .
nenn for a complete rest after his long
and arduous labors In Washington |
Mr. Wood was one of the most active I
and Influential of the Republicans in
the house and In the Inst congress wns ;
chairman of the appropriations coin j
mil tee. lie was seventy-two years old '
e ttai WMtsro Nvwapspvv L'ctoa. I
8ec'y Woodin
Speaker
Ralney
. r !
Gen. Kuniaki i
Koiso
Premier
MacDonald
BCNEKS
When Washington was Inaugurated
he stood on one of the pillars of the
Brooklyn bridge and swore at John
Ada ins.
BONERS are actual humorous
tid bits found in examination pa
pers, essays, etc., by teachers.
The Monroe Doctrine says Hint nil
foreigners must leave their ammttnl
lion at hoiue.
? ? ?
What was the Age of I'erlcles?
I'm not sure, but I reckon he wns
about forty.
? ? ?
i liked the painting ol the two lish
lying by the bowl. It wns called "Still
Life," to show that the fish have Just
been caught and were still alive.
? ? ?
The Civil wnr wns cnused hy l.ln
coin tinning the Kinnsctilnllon I'roc
hi n?nl ion.
? ? ?
Orpheus wns Hie hushnnd of Au
rorn; therefore her god.
? 1913 Boll Syndicate. ? WNU Sorvlc*
J.ZE AV/AV
r pin;
'ICE OP
"TAYLOR,
TEC. OP
SHOT
6C
J. H. TAYLOR'S PITCH
SHOTS
J II. TAYI.OICs ability to "cut the
? feet" from under the hall on
mnshie allots o|iened up a new way to
lower scores. I before his era golfers
were quite content to gel the hall on
the green. Itut Taylor's method of
making the cut shot was soon copied
by many though few matched his
ability. Ilis pitch shots would drop
the ball within the vicinity of the ting
time and again, requiring but one putt
to gel down. Accurately sizing up the
distance to the green, he would keep
Ids eje on the hall and [day for the
flag. In 1014 Ouimet, visiting Brig
land, met Taylor and noticing his ac
curate ma side play to the pin, ques
tioned him about Ids thoughts when
playing this shot. Taylor-made a char
act eristic reply. M1 try to keep my
eye on my ball first; then 1 attempt
to pitch the ball Into the hole on the
fly
6 1t33 B*-ll Syndicate.? WNU Serrlr?,
Printing U. S. Postage Stamps
L'nited Stales postage stamps are
printed at the bureau of engraving
and printing In Washington, I). C,
Graphic Q^lfI
Rubber Check That Won't Bounce Back
MISS FltANCKS HAVI.IK o( Akron, Olilo, Is holding the worlds largesi
check. It was made by the Goody en r Rubber company, and although
partially made of rubber. It will not "bounce back" because It Is reinforced
with duralumin, the material used In making the framework of the Akron,
new naval airship. The check Is four feet long, J8 Inches wide and weighs If!
pounds. The bark of the check is rubber flooring, and afler the check has
figured In 100 transactions and bears 100 names of endorsers It will be taken
to the bank to be cashed.
CHILDREN'S BEDTIME STORY
By THORNTON WY BURGESS
THE CARELESSNESS OF
JOHNNY CHUCK
TURK!? Is a certain time when lit
tle folks, all kinds of little folks,
are neither very Mttle nor very big;
they are half way between. Hut they
don't feel half way between. Good
ness, no! They feel quite grown up
and all too often are quite sure that
they know all there is to know. It Is
at that age that usually they get Into
the most trouble. No one can tell thera
anything.
And there Is another age when peo
ple are no longer young, but have be
come set In their ways and find It
dlfllcult lo learn new things, and are
v$ry sure of their opinions. Once more
they are ncllned to think that they
know all there Is to know. Sow when
any one, young or old, thinks he knows
all there Is to know you may be pretty
sure that old Air. Trouble Is waiting
for him Just around the corner.
Johnny Chuck had been nil through
the lirst period. Of course, Johnny has
grandchildren, ff vou must know. And
now Johnny was at that second period
of knowing all there Is to know. Fie
wouldn't hnve liked It nt all and would
have Indignantly said that It^ wasn't
ao If you had told dm that this was
the case. But the truth Is he was set
In Ills ways and because he had done
certain things In certain nays for so
long, lie had come to think that those
ways were the only ways. Ue had
come to think that because Reddy Fox
and Granny Fox and Old Slan Coyote
and Hooty the Owl nerer had caught
him. they never would be able to. He
considered himself so much smarter
than they that he had nothing to fear
from them.
Now, when any person, big person,
middle size person or little person, gets
to thinking that way, carelessness Is
Just bound to result. And so tt was
with Johnny Chuck. He Intended to
be Just as watchful as ever. For new
dangers he was as watchful as ever.
When he had built that house down
In the far corner of the Old Orchard
he had made the entrance between the
roots of an old apple tree and these
roots made It Impossible for Reddy
Fox or Old Man Coyote to dig him
out If they wanted to. So there had
been no need of a backdoor so far as
they were concerned. No one ever had
tried to dig him out there and he
and Tolly had lived with a delightful
feeling of perfect security.
Very likely this was the reason that
when he dug his new home up there
by the dusty road he didn't think It
necessary to dig a backdoor, although
there wasn't anything under the sun
to prevent any one digging him out
who might want to. Johnny had got
It In his head that because no one
had tried to dig him out In the old
home no one would try to dig him out
of the new one. I suspect, too, that
the fact that digging was harder work
than It used to be for him had some
thing to do with the matter. Anyway
the fact Is there was but one entrance
to thnt new house, and any Chuck
will tell you that to live that way Is
pure carelessness.
Then, too, Jobno; hadn't stopped
to think that while that old stone wail
might be a protection In some ways, It
was a decided cause of danger In an
other way. It gave enemies a chance
to creep, unseen, right up behind him.
But Johnny didn't think of this, where
in la shown once again how careless
folks who are set In their ways may
become.
Tor a third thing. Johnny bad got It
In his head that no one really dared
attack him now that he was so big
and strong. This also made him care
less He didn't begin to watch ont
for Iteddy For as he nsed to when
he was younger.
All these things Reddy Fox had dis
covered, and he and Mrs. Reddy
grinned as they made their plans.
* Kit. br T. W. BnrgSM.?WNU Ssrrlcw
* ^ qruocp ? |
"The only thing that can crow a
street in safety now-a days," aaya run
down Rena, "are the painted traffic
| lines."
C- 1332. Bell Syndicate. ?WNU Service.
WBK** ' ufr
While That Old Stoie Wall Might Be
a Protection In Some Ways, It Was
a Decided C use of Danger in An
other Way.
Best Dog in the Wcstminster Show
THIS alredal- Warland Protector of 8lielterock. was adjudged the beat dog
in the recent show of the Weatmlnater Kennel club In New fork. His
owner la holding the club'a sterling silver trophy and the cup given by Mrs.
V Hartley Dodge for the beat dog In the ahow. .? i
Boyhood Dreams
By OOUGLA8 MALLOCH
I LOOKKll till in boyhood days, und
' Bill looked or. ? tie Mate,
He to wealth hhiI wealthy ways, and
I to bills ot faine.
I bare never climbed so far, nor be
so tnucb acquired.
Here we were, and here we are, what
ever we desired,
Tale may treat us kindly yet though
fate so long delays.
[ may hare my coronet, and he bis
weal I by ways.
Then, I wonder, what the dream, and
what the vision then.
What the fairest thing will seem to
be to musing men?
He may bare a house of stone, to me
a croun belong.
He for riches may be known, and I
for hot a song.
I may stand upon the hill and he amid
the mart
Each according to his will, according
to his heart.
Tet of something we shall dream,
when sitting there o' nights.
Will It be u larger scheme, and be tbe
greater heights?
I may win a world of praise, he all
the wealth there Is-r
I'U look bark to boyhood days, and
bell look bark to bla.
t) H1J IViuim wsllocfc.? WXD Strrlcw
GOOD OLD RECIPES
IITK I.IKL to try recipes which our
* ? riends hare cherished and band
ed down In the (amity for years. They
may not appeal to all tastes, bat It la
a most commendable habit to culti
vate a liking for all foods that are
wholesome and well cooked.
Paprika Schnitzel.
Take small veal steaks?one for
each serving?dip into flonr and fry
in butter after seasoning welL kits
one teaspoonfnl of paprika, one table
spoonful of flour, one and one-half
cupfuls of sour cream and onehalf
cupful of stock. Strain over the meat
and simmer fifteen minutes. Serve
garnished with fried 'm?>dlea
Sauet Gedampftes Rinsftaisch.
Take five pounds of lean beef from
the rump, ruh wilh salt, pepper and
a teaspoonfnl of ground clovea. with
onehalf teaspoonfnl ot allspice. Pot
Into a stone crock and cover with good
cider vinegar, onehalf of a thinly
sliced lemon, one onion cut Into pieces
and one bay leaf. Leave three or four
days, turning several times so that
all parts of the meal are well sea
soned. Sow wipe dry and place In a
scotch kettle, add a little fat. cover
and cook slowly as for a pof roast,
using the vinegar for the liquid In
stead of water; add very little at a
time. This Is well liked sliced cold,
but Is usually served hot
C 1933 W?stem Vewsrsaper Cnton.
For Rainy Weather
This lightweight cape-coat model Is
made of sodaDette fabric In a One
plneheck design. The cape ia detach
able. The ontflt Is available in black
and while, brown and white and navy
and white.