The alamange gleaner
VOL. LIX. GRAHAM, N, C., THURSDAY NOVEMBER 9, 1933. NO. 40.
News Review of Current
Events the World Over
Roosevelt Directs Buying of Gold in World Markets to
Boost Commodity Prices?Administrator Hopkins
on Winter Relief Needs.
By EDWARD W. PICKARD
BUYING of newly mined American
gold at prices above prevailing fig
ures did not prove so efficacious In
boosting commodity prices as the ad
ministration had
I hoped, bo President
Roosevelt called Into
conference his finan
cial advisers and It
was decided to buy
I gold In the world mar
| kets. Prof. George F.
| Warren of Cornell and
Prof. James Harvey
i Rogers of Yale, who
I had devised the dollar
? dniMmnlntlAn n o 1 I o v
ucpicuakiuu i> u u v. j
Prof. George F. which Is being tried,
Warren were among the con
ferees, naturally, and the partial fail
ure of the plan was put up to them.
They then told the President that it
would be necessary to force down the
value of the dollar in the foreign ex
changes as well as at home, and that
if that were done the scheme was sure
to work.
The purchase of gold abroad is un
dertaken by the Reconstruction
Finance corporation, as is that in
America, by direction of Mr. Roose
relt. It is preliminary to revaluation
of the dollar and establishment of the
President's plan for a managed cur
rency.
Chairman Jesse Jones of the R. F. C.
said the Federal Reserve bank of New
l'ork had been authorized to dispose
of R. F. C. notes and take foreign
gold in payment. The bank also has
made overtures to the Bank of Eng
land and the Bank of France for the
purchase of pounds and francs respec
tively in exchange for gold. The co
operation of the French and British
banks would tend to support an ear
lier White House statement that inter
pretations of this government's foreign
gold purchases as the beginning of
an international depreciation race, "a
currency war," were erroneous.
In Washington it is the opinion of
many observers that conservatism In
finance Is being gradually abandoned
and that the dollar will ultimately be
forced down to a 50-cent value. Bro
kers in Wall Street were frankly con
fused and avoided any extensive mar
ket operations.
Meeting with President Roosevelt
and the professional authors of the
gold plan were Acting Secretary of
the Treasury Dean Acheson, Gov. Eu
gene Black" of the federal reserve
board, George L. Harrison, governor,
and J. E. Crane and Fred I. Kent of
the Federal Reserve bank of New
York; Henry Morgenthau, Jr., gover
nor of the farm credit administration;
Jesse H. Jones, chairman of the Re
construction Finance corporation;
and Henry Bruere, the President's
financial co-ojdlnator.
At least some of these gentlemen
have formerly opposed any program
that smacks of inflation; but the Pres
ident evidently felt the Warren-Rogers
plan was an experiment that deserved
a trial.
HARRY L. HOPKINS, federal re
lief administrator, went to Kan
sas City, met with relief delegations
of Missouri, Iowa, MO*=as, Nebraska,
p ail an Arkansas and Okla
I homa, and told them
! that the need for re
' lief was going to be
I greater than ever and
! that each state and lo
cal government must
do its part fully. "We
are going to start the
winter with a million
more families on the
relief rolls than there
were a year ago at
this time," ne sain,
and he added emphatically, "the
n?edy idle are going to be taken care
of this winter."
Mr. Hopkins estimated about 3,250,
000 families were on relief rolls at the
present time. During the five months
the federal emergency relief adminis
tration has been in operation $21G,000,
000 has been allotted by the federal
government to care for the needy, he
said.
*lle noted that when new Jobs open
up most of th*- ire filled at first by
"self-sustalnir !)? who have never
been on reli . .oils."
'The idle relief bill of the nation,
which is about one billion dollars a
year, must be paid," he said. "This
means that the need for private con
tributions Is greater."
FOLLOWING a conference in Des
" Moines, Governors Herring of
Iowa, Olson of Minnesota, Langer of
North Dakota and Schmedeman of
Wisconsin went to Washington to lay
before President Roosevelt the plans
approved by the conference for boost
ing prices of farm products. Immedi
ate steps held necessary to securing
benefits to farmers before the 1933
crops leave their hands include cur
rency inflation, pegging the prices of
basic farm crops, the adoption of a
code for agriculture under the NRA,
and improvement of the federal farm
refinancing machinery, especially in
the Omaha land bank district. The
program has been Indorsed by Gov
ernors Horner of Illinois, Bryan of
Nebraska, McNutt of Indiana and
Berry of South Dakota.
The proposed code for agriculture
would authorize the creation of a
board of farmers which would have
functions similar to those of trade as
sociations in existing industrial codes.
The board, in conjunction with fed
eral authorities, would determine the
cost of production of principal crops,
determine what is a fair margin of
profit for farmers, and set minimum
prices for domestic consumption.
Though President Mllo Reno of the
National Farmers' Holiday association
declared the farm strike off pending
developments in Washington, the
strike was kept up, especially in Min
nesota and Wisconsin.
LATE developments concerning the
recovery program include these
events:
Counsel for an employees' brother
hood obtained a temporary injunction
restraining the New York Edison com
pany from violating the NRA and the
re-employment agreement.
President Roosevelt settled two dis
putes with the steel industry. He ob
tained a "substantial agreement" be
tween the United Mine Workers and
the captive mines of Pennsylvania op
erated by the steel companies, forcing
the latter to accept the checkoff sys
tem. He ended the differences between
Transportation Co-ordinator J. B. East
man and the steel companies over the
price of rails to be bought by the rail
ways with money loaned by the gov
ernment, by setting a price halfway
between that asked by the companies
and that demanded by Eastman.
The Ford dealer whose bid was re
jected by the government because
Ford had not signed the NRA sued to
prevent the award of the contract to
the next lowest bidder.
More than 300 charges that the Ford
Motor company is violating the NRA
automobile code provisions were dis
missed as "not legitimate" by the De
troit compliance board.
SECRETARY OF STATE nULL and
his aides have made everything
ready for the conversations with
Maxim Litvinov of Russia concerning
establishment of re
lations with the Sov- |
iet republic, and the |
foreign affairs com- I
missar is speeding to I
Washington. It is fi
taken for granted |
that when recogni- 1
tion of Kussia is com- J
pieted the Moscow I
government will ap- I
point as Its first I
nrnhnoeer1nP tf? AmPF
UUJuaoouuvt .v
ica M. Sokolnikov, M- Sokolnikov
now vice commissar of foreign affairs.
He was formerly ambassador to London
and was Russia's delegate to The
Hague, ne Is descended from a fam
ily that was prominent in the days of
the c|ars.
Vaiery Meshlauk, It is expected, will
be chairman of the Russian trade dele
gation to the United States. He is
acting chairman of the state planning
board and has often visited this coun
try in behalf of Russian governmental
purchases.
GERARD SWOPE, president of the
General Electric company, ex-in
dustrial and labor adviser to the re
covery administration, outlined a plan
for the gradual conversion of the NRA
Into a great private organization with
governing powers over all Industry.
Administrator Hugh S. Johnson and
Henry I. Harriman, president of the
United States Chamber of Commerce,
Indorse the plan, the former asserting
such a scheme would make It possible
to avoid cycles of depression, and the
latter warning that the NRA would be
a failure If It were allowed to become
"Just a government bureaucracy."
Briefly, the plan outlined Is to en
trust to a national council the code
supervision authority now In govern
ment hands. Government officials
would be members of the council, and
It would work In close collaboration
with government departments, main
taining extensive research and statis
tical staffs.
The council might be created by an
enlargement of the United States
Chambers of Commerce with labor
representation. It was suggested.
SAMUEL INSULL, fugitive former
public utilities magnate, and the
Greek people were equally jubilant
when the Greek court of appeals again
refused to extradite Insull to the
United States and ordered his release
from custody. The judges held the In
dictment against Insull did not furnish
sufficient basts for his extradition.
What the American government will,
do next, if anything, was In doubt.
There Is no appeal from the decision,
but Washington might denounce the
extradition treaty. The Greeks hope
that Insull will remain in that coun
try and establish big Industries; it Is
rumored that he will ask naturaliza
tion and change his name to Insull
opoulos.
ON DECEMBER 15 France will owe
the United States another Install
ment on the war debt, amounting to
$22,200,928. But we won't get It, or
any part of It. The new French gov
ernment headed by Albert Sarraut in
tends to default as did that of Dala
dier on June 15. It was said semi
officially In Paris that the government
would abstain from raising the ques
tion In parliament.
THE senate banking subcommittee
and its counsel, Ferdinand Pecora,
kept up their hammering at Albert H.
Wiggin, former head of the Chase Na
tlonal bank of >ew
York, and the compli
cated transactions car
ried on by him and
his companies. It was
brought out that the
Oh a s e bank made
huge loans to Wig
gin's personal com
panies for trading In
the bank's stock and
for the creation by
Wicirin of enmnanies i
Albert H. " ?"~ "" "?'
Wiaoin Canada to escape
income taxes. Sher
mar, one of the Wiggln companies, be
gan selling the Chase bank stock short
in 1929, a month before the great mar
ket crash, and big profits were made.
"What prompted you to sell the bank
stock?" asked Pecora.
"I don't know," replied Wiggln. "I j
must have had some trend of thought
at that time. I thought all bank stocks
were too high and that Chase was in
line with the other stocks."
"If you thought Chase bank stock
was too high, why did you permit the
Chase Securities corporation and its
wholly owned subsidiary, the Metpotan
corporation, to go into these various
pools to stabilize the market?" asked
Pecora.
After considerable discussion with
counsel Wiggin replied that the pool
bought and sold stock and that "the
net result was the sale of stock, just
the same as I did."
ACCORDING to Secretary of Agri
culture Wallace, the country's
wheat farmers have signed up about
80 per cent of the average seeded acre
age In the farm adjustment adminls- |
tration's crop reduction campaign. Mr. ?
Wallace estimates that cash benefits
to farmers for agreements to restrict
plantings next year 15 per cent will
exceed $102,000,000, of which they will
receive slightly more than two-thirds
this fall. Checks already are being
sent out, the first going to some farm
ers in West Virginia.
Applications have been signed cov
ering 570,203 farms on which wheat is
grown and representing 51,925,612
acres. A reduction of 15 per cent on
this area for the crop to be harvested
next year will reduce plantings about
7,780,000 acres.
MODERN Turkey, the republic. Is
just ten years old, and its birth^
day was fittingly celebrated at Anka
ra, the capital. The state as it now
orlofa fa lnrfplv thf?
work of Mustapha
Kemal, the president,
and It was with justi
fiable pride that he
recounted Its growth
f and achievements be
fore 100.000 of his fel
low citizens at the
race course, ne said:
I "Our greatest accom
plishment Is the Turk
ish republic which
President tj,e heroism and high
Kemil culture of the Turk
ish people created, thanks to the na
tion's will and valorous army, but our
task Is unfinished. What we hare done
Is Insufficient.
"We will raise our fatherland to the
ranks of the most prosperous and
most civilized nations of the world
with the speed of this age in which
we live. We shall succeed because the
Turkish people Is lofty, Industrious,
and intelligent, and is led by the torch
of positive science and by the love of
fine arts."
Turkey today, added the president.
Is dedicated to peace and Is satisfied
with her present physical boundaries,
but be declared that, as the cradle of
aDCleDt civilization, she Is determined
to spread her cultural boundaries far
into Europe.
0. IMS. WnUra Ncviptpe Uata* I
-A
Hitch-Hikers Invade Air Fields
Hllctl-HIKEKS are beginning to "thumb" rides trow airplane pilots now.
Here's Dale Myers, Tucson (Ariz.) pilot, being "promoted" for a ride by
two girls, Wilbur Spencer and Bonnie Berrlns. who said they were hurrying
from Los Angeles to El Paso, Texas, where Miss Spencer's sister lay ILL
BEDTIME STORY FOR CHILDREN
By THORNTON W. BURGESS
JERRY MUSKRAT WAKES
UP JUST IN TIME
NEVER Id all bis Ufe had Jer
Muskrat been quite so flattered
as he was by the artmi ratio- of Reddy
Fox for his skill as a builder of
houses. Listening to the praise which
fairly dripped from Reddy's smooth
tongue, Jerry actually forgot who was
talking. At least, he forgot that "V
dy always had been an ~nem.v. tt was
hard to believe that such a handsome
fellow and such a pleasant spoken fel
low could possibly mean any barm.
And he seemed so much In earnest
wher he said that If only Jerry would
oome with him and show him how to
build a house he wruld be the happi
est Fox In the world that Jerry had
It on the tip of his tongue to say that
he would do that very thing and be
glad to.
Jerry actually had paddled In to the
bank and was beginning to climb out
as Reddy said this. And then, as so
often happens with a tongue that Is
too smooth, Reddy's tongue tripped
him up. If only be hadn't said that
Jerry conld make him the happiest
Fox In the world! That word Fox
waked Jerry np Just In time. He J
wasn't really asleep, you know, but he
was so flattered and so Interested In
what Reddy bad said that be had quite
forgotten who was talking.
But at that word Fox he suddenly
realized what he was about to do. In
Just one wee little minute more he
would have been right out on the bank
within easy Jumping distance of Red
dy. Hastily he pushed himself out
from the bank and swam far enough
out In the Smiling Pool to feel abso
lutely safe. Then he looked up at
Reddy to see If the latter had noticed
the haste with which he had left the
bank instead of climbing out on It.
He thought there was Just a trace of
disappointment In Reddy's eyes, but It
passed so quickly he couldn't be sure.
Apparently Reddy could think of
nothing but a new house like Jerry's,
only on land and big enough for him.
He went right on talking Just as If he
hadn't noticed Jerry's action at all.
"If you only could show me how. I be
lleve I could build a house. Anyway.
i wuuiu ue wiuiug 10 iry auu iu wur&
hard," said he with his eyes half
closed, as if trying to picture to him
self what such a bouse would look
like. "I certainly would be the envy
of everybody on the Green Meadows
and In the Green Forest. I believe
such a house would tickle Mrs. Reddy
almost to death. I must bring her over
here to see your house." m
Once more Jerry was growing so In
terested In the Idea of that house that
without really knowing It he was pad
dling toward the bank. Then as his
feet touched bottom he remembered
and made a half circle to deeper wa
ter and there floated lazily. 'Til be ,
glad to have you bring Mrs. Reddy to
see my house," said he. "I am afraid
It isn't possible for me to show you
how to build, but as I told you before
I will be glad to tell you how.H
Reddy Jumped lightly to his feet
??That will be fine." ne replied. "I have
an engagement now. but If you have
time to spare tomorrow night 1 will
come over at about this time and we'll
talk the Idea over. I certainly would
like a house like that." He glanced
longingly towards Jerry's new house
out In the Smiling Pool, then, wishing
Jerry good-night trotted away.
?. 1933. by T. W. Burgess.?WNl' Berries.
I PAPA KNCWS-I
"Pop, what la a ehamplon7"
"Might b? a prize fighter or a priza
Pekingeaa."
e 1M1, Bell eradicate.?WTTO 8crrlc*
I
GraphicGolf
I
TOMMY
\ ACNOOftS
1 ??O^CLU0
'I WTTM
I M6AVLY
A Wt-GUTSO
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HtiP$ M
PtAvta ^
0Aa
Ka$HY.
n
HEAVY HEADED IRONS
TOMMY ARMOUR S rifle Iron shots
have Ions been the admiration of
all golfers, duffer and star alike. Al
though Armour realizes the futility of
an average player hitting a long,
straight Iron that will compare favor
ably with those of the powerful wrist
ed pros, he does think that the high
handicap player can help himself con
siderably by proper selection of Iron
clubs. The limber shafted, light
beaded Irons In his estimation are
not the best suited ones for the game.
SOFTER JUGHTS
By DOUGLAS MALLOCH
THESE cooler nights
And kinder days,
These softer lights
And autumn haze.
Are like the years
Of later life.
After the teal's
And Joy and strife.
Less red the flow'rs.
Less green the grass,
But quiet hours
In peace we pass.
Though gone the May,
The summer spent.
We are less gay
But more content
In spring we fear
The thought of fall.
But autumn here.
Mind not at all;
For living writes
No fairer page
Than softer lights
And quiet age.
C. 1!1S. Douglu llalloch.?WHO Sarrlce.
Most of the better players hare clubs
with rather heavy heads which at
least give the suggestion that there Is
something strong and solid In their
hands. He advises such heads for the
average player, coupled with a slight
flexibility In the shaft whlicfr should
Increase proportionately for the longer
Irons. With such clubs there is a
tendency to hit the ball more easily,
which in itself is conducive of better
form than a vicious swing with s
slightly weighted head. There is also
a shock to the latter which soon tires
the wrists and hands.
?. 1933. Bell Syndicate?WXl' Service
rioiiggsiBooh
DESSERTS AND OTHER
DISHES ?
THERE Is nothing easier to prepare
than Junkets and gelatin dessert.
They are most wholesome and espe
cially good for the young and aged.
Cherry Sponge.
Dissolve one package of cherry
Savored gelatin In a pint of boiling
water. Add 12 finely cut marshmal
lowg. Dip the shears Into water when
cutting them and they will not stick.
Stir well, add a pinch of salt, six
drops of almond extract, and chill.
When slightly thickened beat with a
rotary egg beater until like whipped
cream. Turn Into Individual molds
and chllL Serve with cream.
Flaked Ambrosia.
Dissolve one package of raspberry
gelatin In a pint of boiling water, add
a pinch of salt, two tablespoonfuls of
lemon Juice, one tablespoonful of
orange juice and chill until firm. Beat
with a rotary egg beater until well
flaked, fold In two cupfuls of whipped
cream and serve In sherbet glasses.
Garnish with a green cherry.
Prune Jam.
Soak two cupfuls of prunes over
night In One and one-half pints of wa
ter. Cook for ten minutes In the wa
ter In which they have been soaked,
drain nnd cut Into small pieces. Slice
one lemon and two oranges. Including
the peeling, very thin nnd cook In the
prune Juice until tender. Add the
prune pulp, one cupful of sugar and
one-half teaspoon of salt. CVok until
thick, stirring constantly. Sea! In Jars.
Dried apricots are equally good for
Jam prepared In the same manner,
c. 1933. Western Newspaper Union.
EONECi
IT S M.
SWELL )
GO*-D )
BriCKJL^
[ iBoOCrr^
What has the government slone to
protect the Indians? Put them In
reservoirs.
BONERS are actual humorous
tid-bits found in examination pa
pers, essays, etc., by teachers.
A balanced sentence is one fiavlng
an equal number of words on each
side of the middle word.
? ? ?
One of the qualifications for the
President of the United States is that
he must be at least thirty-five years
of age because before that time he
would be too busy thinking of getting
married to be of any use to his coun
try.
? ? ?
The stomach Is the size of a hen's
egg and holds two quarts. It con
tains the liver, pancreas, Intestines,
and other organs.
? ? ?
Cod liver oil prevents babies from
getting crickets.
? ? ?
Grace Abounding was one of the
mistresses of Charles the Second.
? ? ?
Heresy Is where one person hears
something and It Is passed around the
country that way.
C. 1>I1 Bell syndicate.?S.ST Sere'.re.
Afternoon Outfit
This burgundy velvet afternoon
dress is trimmed with silver fox. A
silver fox muff and a short red velvet
coat to match go to complete the
outfit.
Harvest Thanksgiving Day in Germany
SCt.NL at Buckeherg, Germany, during He Harvest Thanksgiving da; cere
monies showing some of the peasant women In their picturesque costumes
taking part In the festivities which were held tbroughont the relch.