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The Alamance gleaner VOL. I,VIX. GRAHAM, N, C., THURSDAY JUNE 15, 1933. NO. 19. News Review of Current Events the World Over Economic and Monetary Conference Opens in London? Illinois and Indiana for Prohibition Repeal? Varied Doings in Congress. By EDWARD W. PICKARD SIXTY STX nations were represented by some of their best financial and economic authorities when King George formally opened the world economic and mone tary conference In I?n<!nn. It was a momentous occasion, for on the results ob tained from the con ference depends In great measure the welfare of the world, at least in the immedi ate future. The dele gates will he in ses sion for many weeks, and the success of R. W. Morrison tneir deliberations rests on the mu tual concessions that may be made, for no one nation or group of nations can expect to obtain only advantages. Most vital of the problems to be tackled Is admittedly the stabilization i of currencies, which Involves the re turn of all nations to the gold stand ard or at least to a metallic stand ard ; and this return must be a syn chronous movement so that all coun tries will be on the same level at all times. In the debate on this question leading parts will be taken by Senator Key Pittman of Nevada and Ralph W. Morrison? retired banker of Texas, the members of the American delegation to whom the monetary problem was especially given for formulation of the policy of the United States. Senator Pittman before the confer ence opened told something of a plan he had devised by which the nations could use silver as a certain percent age of their currency reserves, there by economizing on gold and stabilizing the price of silver. He Insisted this would not constitute bimetallism as geld would still be the standard. The nations appear to be in agreement, Mr. Pittman said, that the currency reserve of gold should be lowered be low the 40 per cent now required in the United States. Twenty-flve per cent gold coverage was mentioned for purposes of Illustration by the sen ator, who said that one-fifth of this reserve should he sliver. When the price of silver was low the governments would "buy and main tain reserves of the metal, which they conld sell when the price was up, the senator said. The other major aims of the con ference are the raising of the world price level, and the lowering of inter national trade barriers. Of course the three are Inextricably intertwined, and they affect all other problems that will conte up. Back of it all Is the matter of the ten billions odd owed by European nations to the United States. War debts were excluded from the agenda by Washington, but they will be continually in the minds of many of the delegates and eventu ally something must Jae done about them. ILLINOIS and Indiana by popular vote added themselves to the list of states that assure their ratifica tion of the amendment repealing pro hibition. In the former state the vote was about 4 to 1 in favor of the wets, and the Hoosiers voted for repeal by approximately 2 to 1. There tiacl been no doubt as to the result in Illinois, but Indiana, long one of the driest of i states and the very center of the Anti Saloon league's power, was counted on by the prohibitionists to stand against ratification. One of their leaders, L. E. York, explained their defeat by ?aying: "The repealists had ample funds supplied by the breweries and distil lers and the state organization had paid workers at the polls." SENATOR PAT HARRISON'S plan for financing * the public works industry control measure was.adopted bv the senate finance committee. which then reported ont the hill for de bate. The backbone of the Harrison pro p-am, which is cal culated to raise $227. 000,000, Is a capital I stock tax of one-tenth 1 of 1 per cent on the I net worth of corpora- | tlons. This tax Is ex- . pected to raise $80.- | 000.000. Corporations are to be allowed to atOi* Sen. Harrison declare their own valuation, and as check on this provision a penalty tax la provided of 5 per cent on surplus profits of more than 12ti per cent Second feature of the Harrison pro pain is the imposition, in Ueu of nor mal tax rates levied on the Individual as the house bill contemplated, of a 5 per cent tax on corporation dividends to be levied at the source. This Is ex pected to bring In $73,000,000. Third Is an additional one-balf cent tax on gasoline, calculated to raise $02,000,000. Instead of the three fourths of a cent tax proposed by the house. The railroad reorganization bill and the $2,000,000,000 home mortgage meas ure were among the Important hills In conference. The latter was passed by the senate without a record vote. DEMOCRATIC revolt against some of President Roosevelt's meas ures created discord in both the house and the senate and the ad ministration's program for national recovery was not having a smooth road. The first upset had been the senate's action In voting a 23 per cent limitation on reductions in compensa tion payments to war veterans, which added about $170,000,000 to the Inde pendent offices appropriation bill be fore It was sent to conference. Mr. Roosevelt accepting his first defeat sought peace by compromise. At his direction new regulations were pre pared governing the payments to dis abled war veterans and to the de pendents of deceased soldiers, under which the veterans would receive an additional $50,000,000 or $00,000,000 over that which was contemplated In the President's original orders. The reduction in payments under the new orders would be about $400. 000,000 instead of the $450,000,000 originally contemplated. The vet erans' bloc In congress was not at all enthusiastic over this compromise. WHY the government should have paid Richard B. BeVier $1.40 apiece for 200,000 toilet kits for men in the conservation corps?a price that the War department said was 55 cents too high?was a question that the senate mili tary committee found hard to answer. Louis McHenry Howe, sec retary to the Presi dent, talked with Be | Vier 15 minutes be I fore the signing of i the contract by Rob ert Fechner, director of the conservation Louis Howe corps, but Air. Howe told the commit tee he never directly or Indirectly at tempted to Influence any decision as to the purchase. He said he trans ferred the whole matter to V. w. Low ery. assistant to Budget Director Douglas. Then Air. Lowery took the stand and declared he never had any responsibility in the matter, simply making a recommendation to Mr. Fechner. This Mr Fechner testified he construed as an OTder. There was no least iBtlmation of improper motives on the part of any of the gentlemen involved, but the senators seemed agreed that Air. Be Vier was a "supersalesman." When Mr. Howe was on the stand Senator Dickinson of Iowa asked him why he did. not turn the matter over to the War department instead of "starting up all this new purchasing machinery." "Well," Air. Howe replied, "this seemed to be a complaint against the War department itself. I was told the War department was about to make a purchase that would be dis advantageous to the government." "Who said it would be disadvan tageous?" asked Senator Robert D. Carey of Wyoming. "Mr. BeVier." responded Howe. WHEN Princeton's scholastic year opens in the fall the old univer sity will have a new president. Its fifteenth. He Is Dr. Harold Willis Dodds. who has been professor of poll tics in the university and chairman of the administrative board of ti.e school of public and international af fairs. Professor Dodds. who is not quite forty-four years old. is the youngest man to be chosen for the presidency of Princeton in 175 years. He is rec- ' ognized as an international expert on electoral methods, and is regarded as an authority on municipal government. CREDIT must be given the council of the League of Nations for In ducing the Hitler government of Ger many to abandon part of its warfare on the Jews. The council acting on the petition of a resident of upper Silesia, unanimously adopted e report r A declaring that the boycott of Jewish shops In that territory and some reg ulatlons affecting doctors, lawyers and notaries were in conflict with the Pol-/ ish-German minorities convention. Thereupon Fricdrlch von Kellar, spokesman for the relch. told the council the German government would restore Jews In German upper Silesia to positions they had lost since the be ginning of the Nazi regime. CYRUS H. K. CURTIS of Philadel phia, one of the oldest and best known of American newspaper and magazine publishers, died at ills home at the age of eighty-three years. lie had been ill since May of last year when he was stricken with heart dis ease while on his yacht near New York. The Ladies Home Journal, the Saturday Evening Post and the Coun try Gentleman were Mr. Curtis' maga zines, and he was also president of the Curtis-Martin Newspapers. Inc., publishing the Philadelphia Inquirer, the Public Ledger, and the Evening Public Ledger in Philadelphia, and the New York Evening Post. Ills gifts to charitable and educational Institutions totaled many millions. rpERDINAND PECORA. counsel for " the senate committee that has been Investigating the doings of J. p. Mor gan Co., undertook to bring to light f k A .4 .L mic uciniia ui I lie d|l erations hV which the Van Swerihgen broth ers of Cleveland financed their exten sive railroad exten sion. He said he In tended to show that those men. with asso ciates. "purchase rail roads with money paid by the public, but al ways they sit In the saddle." O. P. Van Swerlngen was the O. P. Van Sweringen cliier witness, and he was the "forget tingest* witness yet to appear before the committee. To almost all Mr. Pe cora's questions he replied, "I don't recall," or "I don't remember," until he drew a sharp rebuke from .Senator Barkley, who was presiding. "It seems incredible that a man of as large affairs as yours could have so little Information about them," the Kentucky senator said sharply. "I don't want to depend on guess work," Van Sweringen replied. About all he remembered was that he and bis associates received from the Morgan firm two loans totaling almost $40,000,000 on October 21,1930. Persistently, however, Mr. Pecora drove at two matters?first, to show that the Van Swerlngens had built up their railroad holdings, not through investment of their own money, but through borrowings, the pyramiding of holding companies, and the sale of holding company securities to the pub lic; second, to show the rise of the Morgan interest In the Van Swer ingen holdings, beginning with equip ment loans which were used in sev eral Instances to buy from companies doing business with the Morgans, and ending, as future evidence is meant to show, by Morgan & Co. acquiring con trol over the Van Sweringen interests. TTOCIFEROUSLY and loudly Sena * tor Arthur R. Robinson of Indiana. Republican, demanded in the senate that Secretary of the Treasury Wood In be impeached and that Norman Davis, "ambassador at large," be re called, because their names were on the lists of "preferred" investors of the house of Morgan. And he included in his denunciation Robert Worth Bingham, ambassador to (Ji'ent Bri tain. "I say you have a secretary of the treasury that ought to he removed im mediately because the American peo ple have no confidence in him." shouted Senator Robinson. "Time after time he accepted gratuities from the house of Morgan. Is he beholden to Morgan? Of course he is. or else he Is an ingrate. If the President does not remove him. the senate should Impeach him." Russell t. shkrwood. that elusive gentleman who was reput edly the financial and business agent of Jimmy Walker while the latter was : - mavor New York. and who disappeared when he was wanted as a witness during the Sea bury Inquiry Into Walker's affairs. <ame bark from hid ing and was promptly railed before a federal grand Jury Id New York that was Investi gating the former mayor's Ineonie tax returns. Ills attorney. R. T. SKerwocd Michael F. Dee. was In an anteroom but Sherwood did not call on him for advice, which was taken as aft Indi cation that he answered fully and free, ly all questions put to him. When dis missed Sherwood hurried to his tempo rary residence In New Jersey so that he would not he arrested on the state charges pending since he fled during the Seahury Inquiry. At that time he was fined g-Vi.taai for contempt. Q. till. Western Newspaper Colon. "Forgotten Man' Wins First Prize THE nauntlngly beautiful features of this hutnble American, "The Forgot ten .Man," will not soon be forgotten by those who once have gazed upon them. The photograph, a masterpiece of portraiture, Is the work of J. Vincent Lewis of Cleveland Heights, Ohio, and recently won first prize at the Interna tional Exhibition of Pictorial Photography, held at Leicester, Eng. The only prints of It privately owned are in the hands of President Itoosevelt and Charles Chaplin. THE CHILDREN'S EVENING TALE By THORNTON W. BURGESS SHORT-TAIL EXPLAINS THINGS ALTHOUGH Short-Trll the Shrew was gone what seemed to him a long time, I'eter waited patiently right where Short-Tall had left him. I'eter did a lot of wondering about Short Tail. It was clear, from what Short "But Why Haven't I Seen You fti Win ter?" Persisted Peter. Tail had said, that he stored up food for the winter, though a snail certain ly seemed a queer thing to store up. Thinking About these things. Peter was full of questions when Short-Tail re turned. ?'Your storehouse must be quite a dls I 1 tance from here," said lie. "What kind of a place Is it in?" Short-Tall grinned. "I wouldn't an swer that question for some folks." said he, "but i don't mind answering It for you, because you might hunt for the rest of your life and nut find it. 1 have some little tunnels In the ground and off of these I have some little storehouses, in one of these 1 am putting all the snails I can find You have no Idea how good they taste In the middle of winter, when a fellow has to run his legs oft to get enough to eat." Short-Tall smacked his lips. "I should think such a little fellow j as you would have to sleep all winter or else freeze to death." said Peter. "Danny Meadow Mouse doesn't sleep, and he doesn't freeze, does he?" retorted Short-Tail, rather sharply, j "No sir. I'm Just as active In winter as I am in summer. In fact. 1 am a little more active. If anything, because It Is harder work to find enough to eat, and I have to find a lot because j food makes heat, you know, and with out plenty of food I would freeze." "Rut why haven't I seen you in win ter?" persisted Peter, looking quite as puzzled as he felt. "Because you haven't used your eyes, that's all," retorted Short-Tall. "I've seen you more times than I can remember, and occasionally you've seen me. but like a great many other people, you've caught Just a glimpse of me ar.d thought I was a Mouse. You've seen my tracks in the snow lots of times, and you've thought they were the tracks of a Mouse. Of course I try to keep out of sight as much as possible. I have to do a great deal of my hunting among the leaves un der the snow, because that Is where most of the insects that sleep all win ter are to be found. Then I find a lot In the rotted centers of old stumps. 1 Just love to dig around in those." "And Is that all you have to eat. the sleeping bugs and things yon can find under the leaves nnd In old stumps?" exclaimed Peter. "I should think yon would have to hustle." "No." confessed Short-Tail, "that Isn't all. If Ileddy Fox or Shadow the Weasel, or any other of the hunters about here make a kill I usually know It and have many a good feast on the scraps which they leave, and by pick ing the bones. Then, I eat beechnuts and some seeds. In fact, I can eat al most anything when 1 have to. Pre never starved yet, and I don't intend to In the future. Excuse me. Pm get ting hungry again. I'll be back again soon." With this, Short-Tail darted away. Watching him, Peter had an uncom fortable feeling that In his movements he was very much like Shadow the Weasel. ?. 1531. by T. W. Burgess.?WNU Service Hat Must Be Wide "High or low, but always wble* describes the midsummer hat fashions now being shown by designers In New York. The above shows an Important crown draping In a smart town hat of paper pananuL BETTER TO BE By DOUGLAS MALLOCH BETTEIt to (11k foundations down, Build from the bottom, stone by stone. Than have the hlgnest house In town, A Mbttse not strong, but big alone. Better fn build a life the seine. On reputation duy by day. Than hnye ? Jlttle sudden fame A whispered word can Now away Better to hare a little gold. That you Mrfre gathered dime by dime. Than have so much It can be sold Because you cannot pay Iti time. Better to hare a faith secure. That you hare mastered, stair by stair. Then live a life that can't endure Some unexpected grief or care. Better to be some humble thing. Vet growing greater year by year. Than be a frail and frightened king Time tumbles from a throne of fear. Better to climb If not so far. Just deed by deed, not dream by dream? 1 Better to seem the thing you are than not to be the thing you seem. I e ltu. Dousiw UsUocS ?wnu s??ic*. FROZEN DESSERTS THERE Is nothing more appetizing and refreshing to serve with the main course of a dinner than: Orange Ice. Make a sirup of a quart of water and two cupfuls of sugar as for lemon Ice, add two cupfuls of orange Juice, one-fourth cupful of lemon juice, the grated rind of two oranges. Cool, strain and freeze. Sorbet. Make a sirup by boiling two cup fuls each of sugar and water together for fifteen minutes, then add one can of shredded or grated pineapple, one half cupful of lemon Juice, one and one-third cupfuls of orange Juice and one quart of spring water. Freeze to a mush. Serve in frappe glasses. Lemon Ice. Make a sirup by boiling four cup fuls of water and two cupfuls of sugar twenty minutes, add three fourths of a cupful of lemon Juice, cool, strain and freeze. A little of the grated rind may be added to the sugar and water, which will give a flavor most people like. Now that our strawberry season be gins early In the year and ends after the ever bearing varieties are seized by the frost, the strawberry season seems never ending. The most delightful of berries. It is a favorite when frozen In Ice cream. ?. 1333. Western Newspaper Union. BONERS When Lincoln was President be wore only a tail silk tiaL BONERS are actual humorous < tid-bits found in examination pa pers, essays, etc., by teachers. The flower bad fire parts, sepals, pedals, antlers, pistil and trigger. ? ? ? Napoleon dispensed the rioters with a whiff of grape fruit. ? ? ? Graft is an Illegal means of uniting trees to make money. ? ? ? A supersaturated solution Is one that holds more than it can hold. ? ? ? Three contagious diseases are smoking, chewing and spitting. ? * ? The duke of Clarence, according to bis usual custom, was killed in battle. ? ? ? Bronchitis is a disease that you can get from riding a certain kind of horse too much. ?. 1933. B?I1 Srr:<!!cat?.?WXU Str-rle*. IGraphicGolf I < i \ CwC< C^\ MCXDS GfZJP fM W- eM /I 3*1S ^" \\ ' A V4S AT S2CT ?4 S^ASS c5 HIT BEHIND THE BALL IN LONG GRASS IFS the exceptional golfer who doesn't find the rough grass at least more than a few times on the golf course. The average golfer does It more times than ne generally cares to remember. Such a lie to many Is Just another golf shor but to Chick Evans a bit different treatmenr is needed than that employed for a reg ular shot from the fairway. In the first place he holds the club tighter In such a situation, not to the point of rigidity but firm enough so that the grass through which the clubhead travels has no chance to turn it in the slightest. Seeoodly instead of direct ing his shot at the ball Chick aims at a spot In the long grass a bit behind ft. The clubhead continuing its down ward arc will thus hit the ball squarely. He uses a relaxed swing even though the grip is tightened here and his follow through is a bit longer than usuaL Obviously his intention is to make sure that ihe ball Is hit and hit hard enough to raise it from its close He. c. Tt 33. B?I! SrTiglca:#.?WNX Sxrrtcw "S/cy Rides" /Ire Familiar to the Colombians \ IOST visitors lo the Century ot Progress in Chicago are thrilled wijh the "Sky Kide" in swift cars car ried on cables between two lofty steel rowers. To Colombians or others who have been In the mountain regions of Colombia, this Is uot exactly a nov elty. In that South American repub lic there hare been for years aerial cableways stretching for miles frotn peak to peak. Last year one such ca oleway. here shown, carried 100.000 passengers and 32.000.000 pounds of freight.
The Alamance Gleaner (Graham, N.C.)
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June 15, 1933, edition 1
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