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Show THE IWYSON; Xvirtt Zt'vivtr National Topics Interpreted by William Bruckart Trc'i filMing - ti.'ii. ai'i.-pl- s the Literal reserve a thing .,g nines used to tall lu y ll ' tber my ii formation is correct and reg irdleas of the public of tin federal reserve syscimipt tem, I ,un devoting some space this vvtik to a disiuvsion of certain developments in the federal reserve bar king structure iri an uttempt to show the trend of ir oney conditions lrt tins country at the moment. Lately, the federal reserve board of governors iinnouneed a revision f its regul itions governing riis founts and advances by federal reserve banks Now, it may be said that tin se regulations tilled only the bunks that are rr. embers of the reserve system. That is true but it Is not the whole t ruth because even y Unrig that the federal reserve board of governors and the federal reserve banks do ailects you and me and everyone i he whether we are little fellows and, therefore, un important individually, or whether we are trustees of great sums of money such as is the case with corporation piesidents The board of governors. In the revision of Us regulations, has made it possible if not obligatory for the reserve banks to take almost any kind of paper that is un evidence of debt. That is, the reserve banks are now empowered to receive from the member banks that paper upon which you and I borrow, any paper that shows that a citizen owes the bank money, and to give that bank money in exchange for the evidence of that debt Everyone, of course, is familiar with a note or a mortgage on a piece of real estate. Most people understand about installment paper which is simply a note providing for payment of the amount due ovet a period of months Hut theie are many other kinds of evidence o( debt that is In fieqifent use among business men from the smallest stuiekeepcr in a rural village to the greatest banker in the world. the regulations now operative in the federal reserve system there sceins to be almost no paper which the local banker cannot send to the federal reserve bank ami receve cash in exchange. Of course, that obligation must be paid oil some time and the arrangement simply permits the federal reserve banks to carry the debt until its maturity All of this obviously sounds as though the federal reserve system is at last to be helpful to us little fellows. That is true It is going to be hell fill in increasing the number of us little fellows who gel our selves in debt. It Is going to lio that because it makes getting into debt eastc r. 1 think no one should object to the reserve bo.ud regulations in all details Theie must be credit given where credit is needed; that is to say when you prohibit borrowing money you choke off eighty live per cent of all of the business done in the United States Vet, credit is dingerous. a double edged sword and must be handled with extieme c uit ion by the borrowers as well ns by the lenders. As we have seen from the inglorious debacle of 11)29. theie can be too much credit ex tended, and when I say that, 1 refer not oulv to loans bv banks but the sale if goods, wares and meridian d.se that enter into eveivdav life And, going a bit further on that line, tluie can be too much ered It exli nded by the manufacturer and jobber to let.ul mere hand s ng establishments just as easily as there can be too much credit ex tended by the retail met chants to V ht l'n-de- r One can get into you or to me debt over bis bead just as e,.si!y bv pul chasing at r tall or whole .ale as b buying mine land than we can at. cud to own or a homo laigor th in we need. So. a discussion of what the boatd of governors of the federal reseive system has dime can load m this ins'anee i nlv to a conclusion that danger (lags are waving want ent conditions or I da not to exaggerate pres s rii as 1 see te.em Tius 18 tl" e ,0 Don t UCf tn i me exciVd There sue, now Excited ever, tiinou; ir es beyond which we cannot go in the mat'er t credit w.thout f icing an . er ta Isj in of tne type cf 1929 Hat x the thing fear tray resu.t from an aceu'mi!,,tji n if federd pobcies of vv ti eh the ,!o action by the federal reserve bo.ud is on.y 1 one It is perfectly human and natural for e.,rh one of us to aspire to bet'er th ngs. to have mere of this woikl s g. ods for our enjijinent and to equip oursones by way of greater resources for the future. We will do jc$CSW3Pwr?,wswi IV. C those things sometimes when w ought not to do them m,j ly because the instruments are avi.luble and we do not stop to count tl e ultimate cost. To the extent, then that the federal reserve board probably it has las made borrowing r tempte a certain percentage of c or w.ll tempt them m the future. Tl.e condition of easier cb bt that is now presented is. as I have said, only one of many temptations and inducements for getting into debt that has been offered by the Roosevelt policies. It is unnecessary to ic Count brie how many pieces of legislation, how many executive and adirnni trative rules have been made to jc rrmt citizens to use money that is not their own. They are almost numberless. The result has been, is, and will continue to be the cieation of a lot of debt that w.U hang over us all for years to come. Toe fi deral government itself has tinn the lead in getting into debt. The latest Treasury statement shows that the United St ites government owes more than thirty-sevebillion dollars. That amounts to $281 (18 for every man, woman wind child m the United States. Compare that with the national debt as of 1922 when it stood at $19,100,000,000 or a debt of $118 93 for every living poison ill the United States. en-ie- apart and if little or in mi. i tun to turn because they ;;e si Iir riniowd and, further, beiut.'-- e tiny indulge in what the !i u Favor for Anarchists of t'nrrvnt rent ft M i.C'l R G 1 l.jr.,1 drnlnis-tli- Mon b UC I do not know when, if ever, this gig.mt c national debt will be paid oil. I th.nk prob-Pa- Off ably the American people with trade tional tenacity will stick by the job and get It done some time, but 1 must refer to the job as a very slow process. It requited twelve years after the World war debt, reached its peak of twenty-sibillion to reduce it by ten millions. That reduction was more rapid than had ever been known before in any nation and it was made possible because of the piospci.ty which we enjoyed during those twelve years. It would seem, therefore, that we must consider not only a slowing down of individual debt making, but a sharp cuitjilment of national debt making us well. If we do not, a yawning cavern of unsounded depths uvvjits us. Sonle weeks ago Mr. Roosevelt sent instructions to the various agencies of the government to save ten per cent out of the operations for the current fiscal year to help in balancing the budget. There were no ifs. nor anils, nor buts about President Roosevelt's instructions. The spending agencies were told simply to lay aside that ten per cent which, in the aggregate, would amount to around four hundred million dollats. The Preradent said during a speech at the great Columbia river darn the other day that he hoped to balance the budget in the next fiscal year. Most other people hope that the President's hope is realised because Mr, Roosevelt lias stated several tunes that the budget will he balanced "next year" arid Mime of us are beginning to wonder whether his budget balancing statements aie not Lke the statements which Piesalent Hoover made at the beginning of the depression, lie said, you will remember, a number of tunes that "prosperity is just a i ound the corner." a corner that still seems to be next year. Sometime Roosevelt must be commended and criticized at the same time for his et balancing ideas Balancing Muul you, no criticism can possibly be a'tactied to the objective a bal aneed budget. Rut commendation must give way to criticism on some of the things that are happening under the Hat Older for a I eduction P.ut Mr btidg-Biug- m spending Take this case for example' The National P.uk service, like other agencies, laid away ten pier cent of its oj'i rations "Hus impounding of money happened to coincide with the greatest tloek of visitors ever to enter the g ites of the country's na tional playgrounds It Costs money to police and protect the parks, it icquiics funds to provide for the of the throngs of visitors to comfort ti uniat 'arks The result, in the ease of several 'arks, was that II e vuie forced to close llieir gates to vistors from a week to a month e. ii her than they usually do in the fall Their money had run out. Well sav you. what harm does that do Simply this: Visitors to national paiks, such as Yellowstone, tor example, pay much mote tor entrance lees and the th iij,s they must buy while m the paiks ffun it costs t..c government to iiiamlam the poiks. Teat that is the crux in tins situa fiie Nato-ia- l tii'ii link serv ce does not keep the nionev that is prd in by pat k visitors. Those finds are turned d. redly into the treasury as general resume Tl.e books of the N it'onal r.uk service, there fei e show i oly outgo The condition Is one. therefore. It seems to me. that almost warrants a statement that the policy is "penny woe and pound foolish." 4? W extern New sp ipet I'lalon. ftlcJuijul SUMMARIZES THE WORLDS WEE I & Western Newspaper I n of Labor d bifoie Seeietnry and receded her promise r a petition to cancel the at itii n warrant of two anarchic n i nick S.,11. to and Vincent o.kl.u.d, Calif. Madame Die aii e i ly his held up alien 3,000 than ,,t on of roue ,, and radicals on the i that sen ration from their rd- ,s v. uu.d worit undue h America Backs Up League Japan as the ag- conflict in China and accusing Tokyo of violating both the nine power treaty and the Kellogg Bnand pact, tha United States government lined up with the League of Nations. Secretary of State Hull Issued a statement to this effect, asserting that Japan's action In China was inconsistent with the principles that should govern the relationships between nations and was contrary to the provisions of the two treaties. It was indicated that the United States would participate In a conference of the powers signatory to tl.e nine power pact, which was calk'd for by the league. Fifty member nations of the league voted fur the resolution branding Japan as an Invader and treaty violator and warning of more drastic action if Tokyo does not mend Its ways. China was assured of the moral support of these powers, which agreed to take no action that would weaken Chinas power of Poland and Siam reresistance. frained from voting. The Aga Khan, Indian prince who Is president of the league assembly, sent messages to the signers of the r treaty and to Germany and Russia, asking them to convene Immediately. These events followed closely upon President Roosevelts startling address at the dedication of a boulevard bridge In Chicago, which turned out to be perhaps the most Important speech he ever has made. Reiterating his determination to keep America out of war, he said: The peace, the freedom, and the security of 90 per cent of the population of the world is being jeopardized by the remaining 10 per cent who are threatening a breakdown of all International order and law." lie continued: "The peace-lovinnations must make a concerted effort in opposition to those violations of treaties and those ignorings of humane instincts which today are creating a state of international anarchy from which there is no escape through mere isolation or neutrality. . . . We are determined to keep out of war, yet we "cannot Insure ourselves against the disastrous effects of war and the dangers of involvement." Blow to LVNTRY Denouncing grosser Still Defiant TN THE face of these warnings and threats Japan was defiant. An emergency meeting of the cabinet was called, and spokesmen for the foreign office and the navy declared Tokyo's present "pacification policy in China would be continued. "We cannot stay our hands out of respect for a world opinion formed on the basis of dispatches rewritten by Chinese government officials, aid a high naval official. Great Britain's cabinet, studying President Roosevelts speech, was anxious to learn just how far the United Stales would go in support of action taken against aggressor nations. The British statesmen remembered how they themselves left Secretary Stimsun out on a limb when he tried to stop Japans seizure of Manchuria; and they suspect that the American people are dead set against being drawn again Into foreign intrigues and quarrels. Germany and Italy both felt that Mr. Roosevelts remarks were directed against them as well as Japan, and were rather resentful and skeptical. The Nazis recalled President Wilson's failure to pac.fy the world, and Mussolini's newspaper declared "We fully understand and Justify Japanese efforts at expansion." France and loyalist Spun wnrndv approved Mr Roosevelt's speech and Mr. Hulls announcement. Japan Chinese Check Invaders Tl FPORTS from neutral observers Indicated that the stubborn re-- i sistance of the Chinese had brought the Japanese advance to a virtual standstill both in the Shanghai area and on the northern front Where the Chinese troops have withdrawn they have occupied new and strong systems of defenses. The progress of the Japanese in North China has been rap.d but is now slowed up. and the Chinese are ready to meet them on the Yellow river. Japans plan to set up an autonomous republic comprising the fne northern provinces is revealed in the Tol vo press. The capital Is to be Tciping under its old name of reking. Britain Prods Italy Britain was that Italy should decide promptly whether it would meet with her and France to discuss the withdrawal of volunteers from the civil war in Spain. Mussolini was so informed after Prime M nister Chamberlain and Foreign M.mster Eden had conferred with Charles Corbin. French ambassador to LonThe Anglo French attitude don. was stiffened by President Roosevelt s address and the league action Id the ca'e of Japan, and England Great O Into in-I- L This society does not hope to restore the duke to the throne. That would not only annoy the archbishop of C mterbury, he al- to concentrate on the Spanish question There were hints of "decisive act n unless Mussolini felt freer responded satisfactorily. Special Session Likely will be probably si octal session between November 8 and November 16. This was ioveuled by President Roosevelt just after his return to his Hyde Park home. He indicated that the law makers would be asked to legislate for crop control, wage and hour standards, governmental reorg mizat.un, and the creation of e ght regional boards to plan a program for national re- QONGRESS sources. fie-que- u.e of compulsory control." Elack Joined Klan; Quit I DID join the Ku Klux Klan later joined. Thus Hugo L. Black, now Asso- ciate Justice Black of the Supreme court, admitted to an immense rad.c audience that the charges agamsthim were true. Black asserted that since he quit the Klan he has had nothing whatever to do with it. He cited his record in the senate and in private life to back up tus assertion that he was entirely free from religious or race piojud.ces While he apparently repudiated the principles of the Klan, he did not explain why, on receiving a life pass card after his election to the sonale, he said to a gathering of as Amor. cans, but would seriously upMr. set Stanley Buldw in, who upsets so eas ly that it seems strange the British never have thought of calling him ReversibleStun. IrvinS. Cobb Besides, the throne would be quite crowded if the duke fried to snuggle in there along with the present occupants. What some of us over here think and that goes for many Canadians, too is that England has a crying need for a society dedicated to the bioad general principle of minding its own business and suffering the duke and his wife to mind theirs. We have a rough idea that both of e them can better endure snubs than officious meddling Just being in their private affairs. is a hard enough job an even if you can get it to do. Averted five operating railroad brotherhoods accepted an offer of the companies of a fiat raise erf 44 cents a day. They and the fifteen unions had demanded a 20 per cent wage increase. The latter already had agreed to a raise of 49 cents a day. For five weeks Dr. William M Leiserson, member of the national mediation board, had been holding daily conferences with representatives of both sides. In announcing the terms of the agreement, Leiserson praised the of both parties, saying the manner in which they receded from their original positions was the biggest factor in the settlement. H. A. Enochs of Philadelphia, chairman of the carriers conference committee, estimated the increase would mean an average raise of 6 6 per cent for the 75,000 long-distanc- Klansrren: "I realize that I was elected by men who believe in the principles that I have sought to advocate and which are the principles of this or- ganization. Black emphatically declared hts devotion to the principles of the Const. tution and the Bill of Rights. "When this statement is ended, he concluded, "my discussion of the question is closed. There was a definite note of defiance in Black's address, but it is fair to assume that the American public was not satisfied with his ex From all parts of the pla nation. country came renewed protests against his presence on the Supreme court bench, and various large associations "resoluted about it Many of tne senators who voted to con firm his appointment because they accepted the assertion of his friends that he was not a Kluxer are resentful at the Deception practiced on them but what can they do about it now? When Justice Black took his seat, the chamber of the Supreme court was crowded to capacity. Albert Levitt, an attorney, was on hand to ask permission to file a suit seeking to force Justice Black to show cause why he should not be declared constitutionally ineligible to s,t. The court deferred act.on on the request Another motion to the same effect was filed by Patrick H. Kelly, a Bos ten lawyer. ' HEN President William Green opened the annual convention of the American Federation of Labor in Denver, he was not able to present an optimist- W picture of the future of unified labor The battle with John L. Lewis and his C. I. O. continues un abated, and there "dogfights among the unions all over the country, generally concerning jurisdiction disputes or shifting of affiliation. if the report of the federation's executive council is adopted, the C. I. O unions will be finally ousted. The council said in part: "For two years we have pursued a policy of toleration All of this has failed . . . Now the executive council feels that the time has arrived when the American Federation of Labor must meet the issue in a clear-cu- t and positive way . . . The issue which created the division in the ranks of labor must be made are ... clear. "in order to accomplish this purpose the executive council recommended that the convention confer upon the executive council author-i'- y and power to revoke the charters of the international unions holding membership in the Committee for Industrial Organization. Windsor Coming to U. S. s boriev moon being ended, the duke of Windsor intends to take up the really serious things of life, and before long he will come to the Lnited States for the purpose of studying hous.ng and working conditions in this country. This was announced m Pans by the duke's secretary, who said Edward and his duchess would first go to Germany for a similar survey tnere. The duke s interest in such matters is no new development, for as Prince of Wales and during his brief r reign as Edward was notably concerned with the social welfare of his subjects. On many occasions he assailed housing conditions cf Br,tish workers. In London it was said the had given reluctant permission for the duke's American trip in order to avoid an open rupture with him. He resented the close restrictions placed on his movements and, it was rumored had threatened to return to Ene-lan1 American friends of the Windsor, th,nk they may make the.r tempo-rarhome at "Wakefield " manor near Front Royal. Va possibly there in November. The rraror is the estae cf Mrs George Barnett, ccusin cf the duchess. y ar-rV- i! EH Howe Dies he pass; of A.ch.sen. ixoroofus on 8 Kan , kost-know- p'iIosAPv,,cal current events fuar years old and Ed Howe the country and best-Ro- d c Ho was e h d ed as he had xmd, in h S sleep after werk. T'e S.ign f unded the Ate ln Globe m lag? arid ret. red 37 years later. There-- a er he bus.ed h m,C!f with t! a IT?!"1caied l Political Afterthoughts. ROLLO, aged seven, and city raised, was visiting relatives in the country. On his first morning he came in wearing a worried cast of countenance. "Mother, he said, "Ive been out under the mulberry trees. "Yes. Mother, do mulberries have hard backs and six legs and crawl around on the ground?" "Why, certainly not. said Kollo in "Then, Mother, stricken tones, "I feel I have made a dreadful mistake. Whats the point? Oh nothing, onlv I got to imagining what the brooding regrets of some members of the administration and a majority of the members of the senate must be when they recall the alacrity with which they moved to fill a certain recent vacancy in a certain very high court in fact, the highest one we've got. ASTER A. F. of L. May Expel C.I.O. ITA tract :re L;i5iUe-- ; r i ret much di h mr thts ne slat' ready having things ic Mr. Roosevelt also made it clear he has not abandoned his plans to "reform the federal couits, including the Supreme court. As foe agucultural legislation, it appears the administration will favor compulsory production control for wheat, corn, cotton, rice and tobacco. This was inferred from a speech in which Secretary of Agriculture Wallace his expounded ever normal gianary scheme to New Yorkers. The plan, he said, which would give the maximum income to farmers at the least cost to the federal treasury, is one winch involves high loan values and f'Centedl to annoy him, such g of Nations. koSCOTT SANTA MONICA, is forming in defense of for the England Edward VIII, now former the the duke of Windsor and honorary citizen of all places in this country named for the Simpson family. will not be a nationwide THERE of railway workers. Such a disaster was averted when the F. D. U. BL.NOLVCFS J VPAN President Roosvelt delivering the Chieago specc h In wliitli he branded Japan as a tieaty violator and lined America up with the League CoolrJ1 Minding Your Business. On-tirl- Rail Strike w 'JhjMhd about of dintry in tl.e j rovince Canada, was decide Jlv negato returned voters the ticd when of Prepower the administration increasF. Mitchell Hepburn, mier in ing i's alrendv dec sive majority the leg slatare. Hepburn, head of the L berals, is determined to keep Lew s' orgamzat.on and its organizers out of the province if he can do so legally. The defeated Conservastood tives, led by W. Earl Rowe, for free and open labor affiliation. nine-powe- g tho C.I.O. tf t e C. I AFlaUeri UJWfct at ap- - led a di legation i c J ill.'STON, of the - T) It rimy bo, as I have V,.",h ng'uri t jIiJ bt n tn.it U f avert ..llj age pi r .mi Mr. ederal j0nn Q Public in Reserve 1 S v,,y ti list in tlic doings f tie i ral resrrve It it ,.y be 1 n tb.it tlie average b iin.s 1Alr.w... Condemned by Roosevelt and The League, Mussolini Is Defiant . . . England and France Prod vV r miON'K'I.K, JAPAN THE AGGRESSOR Tokio i(iP V ( Inthlv a "Journal of 'lQ. donation and Education." Hirsute Virility. DARISIAN boulevardiers believe a I dense arboreal effect of whiskers is proof that the wearer is indeed a man, without, in all cases, being absolutely convincing about it. We havent gone that far yet, but I would like to know whence comes this notion of appraising masculine vigor by the amount of hair along the breast bone? Morbid, I calls it. Tuo distinguished authors battle when one intimates the other is scantily adorned in that regard, forgetting that, in the immature summer peltage of his kind, an author has but a scanty growth as com-- I pared with the richer winter coat. (And then prying reporters ask the new glamor prince of the movies .whether he has any fleece at all upon his chest, their tone indicating they rather expected to find trailing arbutus there, or at least some shy anemone. ears ago in the hospital, when I was being shorn for an operation, I remember remarking to myself that here was the only barber whod ever worked on me without trying to sell me a bottle of hair tonic. Miss Americr. 1937. A T LAST some rational excuse x moral values, anyhow has national beauty contest. 1,1 been found fur a The seventeen-year-olNew Jersey girl chosen as "Miss America of 1937 is not going into vaudeville, is not going to make any personal appearances, is not coming to Hollywood for a screen test, is not going to accept a radio contract, is not even going to write her life story for publication. She will return to school and to the normal home life lie the ne Worians rallant Pattern No, m If ou wear a 12 then youll want this ter mg dress made n.thLN line to give you a nh line. Square shouldered a finished with two peej, dress will see you fee daytime occasion and t, made in any fabric yoc, silk, velveteen or thru fc Pattern sizes 1379 is to 20. Sizelt materi yards of Send your order to Ts 12 Circle Pattern Dept, Montgomery Ave., San?; Calif. Patterns 15 cents ti each. Send 15 cents for ttej Bell Fall and Winter yourself attractive i and becoming clothes, designs from the Bans: well-planne- e terns Bell Sndleate -- WNCSr ti. in Ma Honesty The more honesty a r; the less he affects the saint. The affectation ds is a blotch on the face j i of Lavater. Gonstipai Its Rent) flat Feists Make! That DIZZY j DOFt, an een- - Modern doctor dow w lt .well, up d'jernv. on nencs m tl. region sure cause frequent b bonbob--W aour stomach, inn, elecpVss Diehta. coauriMpta . and loss of appet'te. heada-be- s. to normal s c mi most at 01 -- e von f"1 bit. va',,.1.. llv '1 hat i" fSVhAUi11' (istmg cu c at e I V plimed im is w liv ell it ut li'iaunal ca' and cartmi'i'i'C "-h i An nk art on d ' ' ml ,ract' entire i ' Btomncli boa el coup' Mionin Maa (KV action, no a r e" ''T.Jf,: b for ob Courage to Courage consists the problem before the m d of a well-raise- ur'ess it all normal girl that is, she changes her mind about If she shouldn't change her mind, she stands out as probably the sanest young person of her age at present residing on this continent, or, should we say, this planet. If she should change her mind well, the American populace has been f joled many a time and oft Our grandfathers didnt behove human beings ever could fly. Oar fu.hers didn't believe anvbodv would ever hek John L. Sullivan. v)!uv the offer day our United States 'r",aors didn t believe their fejlow-'l.- i man. Mr Black of Alabama, r ud be a Khnsman. They thought I!'? ,!ow but persistent sound of "Ku Klux, Ku K'ux" was but the voice of a modest hen. RVIN S. COBB. Service. be-fm- e. -- s latove WoB low One Lost 20 16s tlr Lost Her Promig! Double Wlf Gained A Shapely XfyouTcfat-fcsW- gV Get on the vuu howmuciKruschen bottle last tees'1' of 4 youtme-h- Take en Salts in mornmg-mod- Vt vv a a d teasot, Sjf 1 3 le regular fica' . jpdM, weeks get on tic :ctahat'; many Pou''dstchVt T0Uha . Notice energy-yo- ur. feel jounccr in.bdayf--, rorrl'KS give anvbefatsure But health comes fi. st can get && any leading druSfteft' America 'la"'' y thS cost is but y jtfcftsJ && doesn't ctyn'nceana EzT SAf iest, f icso help youreturned. pl.idv |