The Alamance gleaner VOL. LIX. GRAHAM, N, C., THURSDAY NOVEMBER 30, 1933. NO. 43. News Review of Current Events the World Over Business Men, Bankers and Others Assail President's Monetary Policy?Russia Recognized, Envoys Named?Welles to Leave Cuba Soon. By EDWARD W. PICKARD American Dusiness, as represent ed by the Chamber of Commerce of the United States, Is now out In open opposition to President Roose veits monetary poli cy. The board of di rectors of that nation wide organ i z a t i o n, which la headed by Henry L Harrlman of Boston, adopted a res olution declaring that the President's course was gravely retarding business recovery and re-employment, under tti i n \ n tr tho cnvprn. President ment's credit, prevent Rooeevelt |ng expans|on 0( normal credit and prolonging the de moralization of foreign trade?In other words, doing just the opposite of what Mr. Roosevelt hopes It will do. The directors demanded of the administra tion "complete avoidance of monetary experimentation, greenbacklsm and flat money." Until this time the chamber has been supporting the President and Mr. Harrlman has been active In pros motlng the alms of the administration. He attended the meeting of the board, as did P. W. Litchfield, president of the Goodyear Tire and Rubber com pany; Redfield Proctor, president of the Vermont Marble company; Paul Shoup, vice president of the Southern Pacific railroad; Chester I. Barnard, president of the New Jersey Bell Tele phone company, and nearly all the rest of the 52 directors. Besides attacking the President's monetary policy, the board adopted three other resolutions of similar tenor. AS HAD been expected, Prof. 0. M. W. Sprague, special adviser to the treasury, resigned, and In doing so he told the President, once his pupil at TT open p d tViot thn ?? i mmmi ?* * I u 1 u, umi MI? Roosevelt dollar de preciation policy not ?1 only will fall to raise J prices substantially In :| the absence of trade 1 recovery but will ruin |1 the credit of the gov ernment and precipi tate an Inflation panic. "I believe." Sprague ?: said In his letter, "you jj flrfl fnrwi with tho t>l ternative either of Prof' M' W' giving up the present Sprague policy or of the meeting of govern ment expenditures with additional money." Having finally lost all hope that the President might be persuaded to change his course before It Is too late, Professor Sprague said he was resign ing to take the field against the Itoose velt policy, believing that the last chance of averting a currency inflation debacle lies In arousing public opinion. Another of the President's financial advisers, though unofficial, James P. Warburg, New York banker, Joins with Sprague in protest against the present monetary policies. Like the profes sor, he will undertake to arouse public opinion against them. This he an nounced at a meeting of the American Academy of Political Science in Phil adelphia. At the same meeting Prof. Irving Fisher, Yale economist, said the President's monetary policy was "sub stantially right"; and Senator Thomas of Oklahoma asserted that he was op posed to inflation, which will cause general surprise. Members of the advisory council of the federal reserve board, composed of prominent bankers in each federal reserve district, met In Washington and adopted a resolution favoring the re-establishment of the currency on a gold basis, together with safeguards to be agreed upon by International ac tion. A CTINQ Secretary of the Treasury Morgenthau replied to criticisms by saying that "the credit of the United States is as good as the Rock of Gib raltar"; but at the same time he let it be known that, in order to bolster up the prices of government securities, which have been dropping, the Treas ury department Itself would buy fed eral bonds with some of its surplus funds. PRESIDENT ROOSEVELT'S answer to these protests against his pol icies, as obtained by Washington offi cials who communicated with him at Warm 8prlnga, was to direct that the program of depreciating the dollar for the purpose of raising commodity prices be continued. The action of the chamber was co Incident with the delivery of an ad dress by Mr. Roosevelt at Savannah, Ga., In which he denounced the critics of his recovery program as "torles" and "doubting Thomases" and warmly defended the "experiments" he Is mak ing. He promised that "the principles and objectives of American self-gov ernment will remain the same." Washington correspondents said that an ambitious second stage recon struction program was being formulat ed there for the President In his ab sence. Important features of this plan are sound money on a devalued gold standard; a balanced budget to come from proceeds of a devaluation, liquor I monopoly and other "painless" rev enues; a revived foreign trade on parity currency and real progress In resumption of foreign debt collections. SECRETARY of the Interior Ickes. as public works administrator, announced that he bad turned $100, 000,000 over to the new federal hous ing corporation that is undertaking slum clearance work In cities through out the country. The undertaking, he said, would be started In Detroit with a model housing project RESUMPTION of diplomatic rela tions with Russia and the recog nition of the Soviet government came, as was expected, on the eve of the President's departure ior vv arm springs. tie and Commissar Llt vlnor Issued a Joint announcement of the happy ending of their negotiations, and Mr. Roosevelt Immediate ly designated William , 0. Bulllt as American j ambassador to Mos- I cow, which greatly ' pleased the Russians. " "* Within a day or so A. A. Troyan the Soviet government ovsky announced that Its ambassador to Washington would be Alexander An tonovich Tro.vanovsky, formerly dip lomatic representative at Tokyo and now vice chairman of the Russian state planning commission. This gen tleman was bom In Russia In 1882, studied In the University of Kiev, was exiled to Siberia in 1909, escaped and lived in France until 1917, and served In the Russian revolutionary army. With recognition by our government, Russia agrees not to allow Its agents to propagandize against the govern j ment of the United States; guarantees I religious freedom and legal protection for American nationals in Russia, and waives all claims against the United States growing out of the American expedition Into Siberia in 1918-21. No promise whatever was made by Mr. Litvlnov concerning the attitude of his government toward the payment of $708,583,000 In debts owed by Rus sia to the United States government and to private American citizens. FOLLOWING his conference with Ambassador Welles in Warm Springs, President Roosevelt Issued a formal statement concerning the Cuban I cltontlon tt'hloh 1MB Bliuaiiwu designed to let Pres ident Grau know that the United States Is not ready to recognize his government and will not do so unless he can persuade the Island factions to cease their warring and agree among themselves. The statement re Sumner Welle. lte?tV the admlnls | tratlon's policy of recognizing any gov I ernment, regardless of Its partisan or factional color, which proved Itself i representative of Its people and able to secure their support But It was made clear that the present Cuban government assailed as It has been by one revolutionary attempt after an other, did not at present meet these conditions, Mr. Roosevelt supplemented his | statement by the announcement that, 1 though Ambassador Welles would re turn to his post In Havana after visit ing Washington, he would soon be re placed by Jefferson Caffery and would resume his former position as assistant secretary of state for Latin American affairs. This Is In full accord with Mr. Welles' desires though he has been unwilling to retire from Havana under the heavy Are directed against him by the supporters of the Gran government. The latter had been or ganizing a great protest demonstra tion designed to keep the ambassador from landing at the Havana docks and serious trouble was feared. Mr. itoose velt's announcement it was hoped would ease this teuse situation. DREMIER ALBERT SARRADTS government was upset by the French chamber of deputies by a vote ot 821 to 247 due to Its Insistence on reten tion of the gold standard and balanc ing the budget Its defeat was really brought about by the determination of the unions of civil servants not to sub mit to any financial sacrifices In the Interests of the state. There was a belief In Paris that Edouard Herrlot might again be called on to form a new ministry. SECRETARY OF STATE HULL, who doesn't seem to cut much of a figure In the administration. Is to have a new assistant secretary. President nOAOOl'nU annololn^ ??vvsvtv.iv a^uiuicu to this post Francis B. Sayre, son-in-law of the late President Wilson, and he will succeed Harry F. Payer who has been transferred to the position of special foreign trade adviser to the RFC. Mr. Sayre Is a professor In the Hnrvi?r<i lnw school and will re- B' ?>yr* move from Cambridge to Washington as soon as arrangements can be made with the university. As adviser on foreign affairs to the government of Slam, Mr. Sayre has had wide experience In the negotia tion of political and commercial treaties. Since 1925 he has negotiated treaties between the Siamese govern ment and the governments of France, Great Britain, the Netherlands. Spain, Portugal, Denmark, Sweden, Norway, and Italy. Be holds decorations from all of the principal nations of Europe. Lieutenant commander set tle of the navy and Major Ford ney of the marines finally found a day of favorable atmospheric con ditions and made their long-delayed flight Into the stratosphere. Their big balloon ascended from Akron, Ohio, and reached an altitude of 61,237 feet This beat the existing record by about 8,000 feet, though Rnssla's strat osphere explorers claimed to have ris en above 62,000 feet. Settle's balloon and aluminum ball came down In a southern New Jersey swamp and the two daring explorers extricated themselves safely and were taken by airplane to Washington where they were received by the sec retary of the navy and other officials. Newfoundland is about to lose Its status as a British dominion and be demoted to that of a crown col ony. This course has been recom mended by a royal commission that has been Investigating the dominion's tangled financial affairs. The report of this body charges that Newfound land's debt, which has reached the point where the Interest consumes 50 per cent of the state's Income, Is "largely due to reckless waste and ex travagance and to the absence of con structive and efficient administration." Newfoundland was the first of Great Britain's overseas colonies. Labrador is Included In its government, and one of the suggested solutions for the Is land's difficulties has been to sell Lab rador to Canada, paying the public debt with the proceeds. Seismographs an over the world showed the other day what scien tists declared was the greatest earth quake ever recorded. But fortunately It occurred way up toward the North pole, between Greenland and Baffin la land where there was nothing to de stroy except land formation and no lives to be taken. ERNEST W. GIBSON, who formerly was a congressman from Vermont, will go back to Washington to repre sent that state In the senate. He was appointed by Governor Wilson to fill the vacancy caused by the death of Senator Porter H. Dale. WISCONSIN'S farm strike flnled out, so It was called off by the heads of the Farm Holiday associa tion snd the milk pooL The pickets were all withdrawn and shipments of milk and other farm produce to the markets were resumed. The milk pool leader said another "holiday" probably would be ordered In Feb ruary. CHINA seems to be beaded for an other civil war of major propor tions. The famous Nineteenth route army, which defended Shanghai against the Japanese early last year, has re volted against the Nanking govern ment and Issued a declaration of In dependence of Fuklen province. It la rumored the army has reached an un derstanding with the communists In Klangsl province. The fact that Fuklen's chief political principle Is continued opposition to Japan has caused apprehension that It Is likely to provoke Japanese Inter vention. The province contains exten sive Japanese Interests and la re garded as a Japanese sphere due to Its location opposite the Japanese Island colony on Formosa. A lilt. Wsstvra Nvwaespw Cslse. "Futurist" Church Arouses Protests * I tpXTERIOR view ol St. Saviour's church at Eltham. England. which was completed recently at a cost of about SoO.UUU. While some church-goers express a liking for the new edifice. It has. In general, aroused a storm of pro test because of Its fortress-like construction. It Is built of purplish brick and has long slit-like windows. The vicar. Rev. (1 11 Isaacson, sees In the build ing an attempt on the part of the church to meet the needs of the Twentieth century. BCNERS , TWE auAuT-r of . The leading character In "The Mer chant of Venice" Is Skylark. BONERS are actual humorous tid-bits found in examination pa pers, essays, etc., by teachers. Pedagogy Is the science of walking. ? ? e The words "give me liberty or give me death" are attributed to Mrs. Car rie Chapman CatL ? ? e The Albanians are people with pink eyes and white hair. ? ? ? The Golden Gate Is the gate of heavefc where all good children go after they are dead. ? ? ? The division of powers means that the law-making, law-enforcing, and law-breaking powers are separated. ?. 1933. Bell Syndicate.?WNU Service. THE FIRST GOOD | SNOW By DOUGLAS MALLOCH WHEN you And the first white hair. Sort of takes you by su'prlse. Ton have had your usu'l care, Clouds that came to summer skies, But the clouds have drifted on And the sun has shone again? Though the spring has passed and gone. Never thought of winter then. Bnt some morning In the fall. Yes, some day before you know, Yon will find the meadows all Covered with the first good snow. It's a warning and a sign That the winter Isn't far. And yon fill the shed with pine. Knowing what our winters are. When yon find the first white hair It Is time to think of things. Wrap your heart In warmer wear. In the faith that comfort brings. Draw np closer to the fire. To the loved and loving near. Think of things the old require. For the first good snow Is here, e. I'll. Donslu Mtlloch. ? wvu hcrlei. CAKE WISDOM FROM the lowly gingerbread to the losclons melting sweetness of the Lady Baltimore, there are cakes and still more cakes. There are cakes for every occasion, birthday, Christmas, wedding and christening cakea. With cake for dessert there Is an Infinite variety from which to choose. A square of gingerbread with whipped cream flavored with a bit of chopped preserved ginger and sweetened with Its sirup?there la nothing equal to It, If yon like ginger. Chocolate cakes seem to hold the preference, they may be rich and lus cious, full of soft rich fillings of fruit and nuts, or plain, covered with a fudge frosting, any kind. If chocolate. Is welcome. Ribbon cake, an old-fashioned fa vorite. Is another pretty cake with Its light and dark layers and fruity filling Cup cakes filled with various fillings are always popular. Scoop out the center, leaving a shell thick enough to h id a chocolate nut filling or sweet ened and flavored whipped cream and topped with a maraschino cherry. Chocolate cup caker filled with a mocha or a caramel filling are espe cially tasty. After all the care In ingredients, ex act measurements and careful mixing, comes the baking. The oven should be slow for fruit cakes and those with molasses and brown sugar. Divide the time the cake should bake Into quarters. The first quarter It should begin to rise; the second, finish rising and begin to brown; the third, finish browning and began to shrink from the pan; the last quarter, test with a toothpick to be sure the cake Is baked to the center. Cool on a rack to avoid a moist and pasty bottom when the cake Is cut If no rack Is at band use anything to keep the bottom of the pan free from the table. Too much flavoring Is like too much pecfume?In poor taste. It Is better to blend a few drops of vanilla, lemon and almond or two of any desired fia voring extracts. ?. 1932. Western Newspaper Union. K QCLiOiSP "Stout women are like ocean liners." says corpulent Cora. "It's hazardous for them to try to get into their slips under their own power." ?. 1933. Bell syndicate.? WNU Service. BEDTIME STORY FOR CHILDREN By THORNTON W. BURGESS REDDY COMES BACK WITH A BRIGHT IDEA IN VAIN Redd; Fox sat on the bank I of the Smiling Pool waiting for Jer ry Muskrat to reappear. After awhile it became clear to Redd; that Jerry didn't Intend to return. He got up and stretched. Then he yawned. He looked down In the Smiling Pool and his face was anything but pleasant In fact there was an ugly look on Ited dy's face. "Now what did he have to think of that mud for?" growled Reddy to him self. "Kyerythlng was going One un til be thought of that mud. He was so Interested In the plans for that bouse for me that In a few minutes more 1 would have bad him out of there to show me what to do and bow to do it Then he remembered that he bad to hare mud to build a bouse properly and that ended his Interest. I believe he was as disappointed at having to give up the Idea of that house as 1 am at not having him for my dinner. I must think this over. I certainly must." The next night Reddy was back at the Smiling Pool, Just as pleasant as ever, and. If Jerry Muskrat had only known It, Just as crafty as ever. He waited some time for Jerry to show himself. You see. having remembered that no house could be built without mud and that there was no mud to be had where Reddy would want to build a bouse, Jerry had given np all thought of that house and concluded that Reddy bad done the same. So he wasn't looking for Reddy to re turn this night. As soon as he saw Jerry swimming Reddy called to him. "Hello, Jerry MuskratI" he cried. Tee good news for you. I've thought of a way to get the mud for that Dew house, so we woD't have to give up our plana after all." In an Instant Jerry was all Interest. He headed straight toward the bank where Reddy was sitting. "How are we to get that mud?" he squeaked. "I've thought and thought aDd thought until my bead ached, but the only way I could think of la to carry It from here, and that we can't do." Reddy grinned. "Listen," said he. "What Is mud?" "Why?why?why I suppose It la earth and water," stammered Jerry. "Exactly," replied Reddy. "Certain ly. Of course. To be sure. Now don't you see how we can get all the mud we need?" Jerry scratched one ear. Then be scratched the other ear. "No-o-o," he replied slowly. "No-o-o, I can't say that I do." "We'll wait until It rains I" cried Reddy triumphantly. "Well wait un til It rains and then we will get all the mud we need from the pile of earth I have thrown out In digging my underground houses Wasn't It clever of me to think of that. Now we won't have to give up the boose after all and you will help me build It just as we planned. We'll make It the most wonderful house that ever was!" For a minute or two Jerry Musk rat brightened up. Then he remembered that what Reddy probably had throws out wa^ mostly sand, and sand lea not make real mud. "You'U have to think again. Reddy Fox," said he, and told him why. So once more Reddy went away disap pointed. e. lilt, bv T. W. Bcnsw.?WXC Scrrios i IGraphicGolfI 7 j fl?vea suoold ' udo< out at 6aul in putting keeo putter mead i close to ? \ gsouno. V 0 4! u PUTTING SUGGESTIONS IN TAKING the putting stance the player should make sure that tie If cot standing too close to the ball Oftentimes golfers are stooped so far over that they are looking back at their feet Instead of outward at the ball, their body tensed and not re laxed. With the eye looking forward one is better able to keep the hands on the Inside of the line of play aud also gain the proper path to the hole. The clubface Is closed and the arc of the stroke kept low to enable a sweep^ In# stroke. With this long, low arc the tendency to hit the ball on the upstroke is minimized. Although hard ly noticeable, there is the same weight transference here as in other shots. This enables the left hand to travel further to the left. Insuring a longer, (latter arc. ?. 13 31. Bel! Syndicate. ? WNTJ Berries. For the Tea Hoar For the tea hoar, this basque of a novelty black and white crepe bor dered with black Persian lamb is wora with a black crepe skirt and Cossack cap trimmed with a gay red tassel. Volar Bears Arc Happy in Chicago's Mew Zoc CHICAGO'S new zoological park at Grooklield, a suburb, U fast ap proaching completion and many ani mals are being Installed In quarters made to resemble closely their natural habitat. The photograph shows a group of polar bears In their den re joicing In a touch of wintry weather.

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