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Show News Review of Current Events the World Over Treasury Issues $800,000,000 Long Term Bonds Be-cause Be-cause of Big Deficit Teague Retires From Federal Farm Board. . By EDWARD W. PICKARD Andrew Mellon "B npIIOUGH th United State Is popularly sup posed to M tne richest nation on earth, the government govern-ment Is "up against It" the "It" meaning mean-ing a billion dollar deficit, with the prospect of another anoth-er billion deficit during the next fiscal fis-cal year. The treasury, treas-ury, therefore, Is about to Issue long terra bonds for $800,000,000, bearing 3K per cent Interest. This Is In lieu of an Increase In-crease In taxes, which probably will not be asked until after next year's Presidential election If at all The reason for this course is obvious. It Is expected that there will be further bond Issues, as well as borrowings bor-rowings on short time certificates of Indebtedness. The public debt, which had been steadily reduced since 1923, now begins to climb upward up-ward again. This bond Issue announced by Secretary of the Treasury Andrew Mellon Is the largest peace time offering of-fering of long term government obligations ob-ligations In the country's history with the exception of the $1,000,-000.000 $1,000,-000.000 bond issue of 1924, which was put out to refinance World war Indebtedness. The interest rate of 8 per cent on this issue Is the lowest of any long term government govern-ment financing since 1916-17. ' By Thursday night the new bond Issue bad been oversubscribed nearly eight times, and Secretary Mellon was able to report to the President that the plan of handling the deficit by adding to the national na-tional debt Instead of Increasing taxes was successful. The bonds will be dated and will bear interest from June 15, 1931, and will mature on June 15,-1949, being redeemable at the option of the treasury on and nfter June 15. 1940. They will be Issued in both bearer and reRistered form In denominations de-nominations of $.r)0, $100, $500, $1,-000, $1,-000, $5,000. $10,000 and $100,000. In addition there will be registered bonds In the $50,000 denomination. The federal reserve banks will be the official agencies for the flotation of the Issue, but all banks will receive re-ceive subscriptions from investors. The bonds will be exempt from federal, state, and local taxes, except ex-cept inheritance taxes and surtaxes. V. H. O. Brown KRMANY'S huge flying boat. J DO-X, after long delays and various accidents, finally crossed the Atlantic ocean successfully. It made the flight from Cape Verde islands to Fernando Noronha off the coast of Brazil in 12 hours and 15 minutes. Defying superstition, 13 persons were aboard the DO-X. It was announced by the State department In Washington that Colonel Col-onel and Mrs. Lindbergh will start before long on a pleasure tour of the Orient In their Lockheed plane, flying to Japan and China via the North Pacific and Russia. They probably will follow the route taken tak-en by the army flyers In 1U24, going go-ing to Siberia by way of the Aleutian Aleu-tian Islands. J C. C. Teague He said that CC. TEAGUE, one of the original or-iginal members of the federal farm board and Its vice chairman, has resigned, re-signed, having served one more year than he at first intended. In Ms letter to President Presi-dent Hoover tendering ten-dering his resignation resigna-tion Mr. Teague declared the board had fully Justified itself and Its cost to the taxpayers. without its advice and revolving fund many farmers' co-operatives would have gone under; and be warmly defended the emergency operations of the board in stabllla-ing stabllla-ing wheat and cotton. "There are two distinct methods ef stabilizing markets." he pointed out "Probably the one that has been emphasized most in publicity has been the stabilization operations opera-tions on wheat and cotton, whicU were entirely emergency operations undertaken to meet emergency conditions con-ditions and which I believe are entirely en-tirely Justified and which will have resulted in benefits to agriculture and business generally far outweighing out-weighing any cost to the treasury. "However, In my Judgment the greatest benefit will come through another type of stabilization of markets which will come through the long time project of developing a system of co-operative control of agricultural products, which will effect a better control of production produc-tion and a better control of distribution distri-bution and thus have an important influence In the stabilization of markets." REPORTING on the general agricultural agri-cultural situation, the bureau ef agricultural economics of the Department De-partment of Agriculture shows that American farmers are selling their produce at less than prewar prices, but are paying about one-third more than before the war for the things they buy. The bureau est! mates that farmers now receive 8P per cent of prewar prices and pa.' 136 per cent for goods bought- In other respects the outlook is not bad. "Farm crops," says the report, "are recovering from the effects ef-fects of the continued cool weather. weath-er. Winter wheat prospects have been Improved. Fruit prospects are generally reported fair to good. Live stock growers appear to be keeping up herds and flocks despite somewhat adverse conditions in feed prospects in several sections." VlItaiN islands is-lands now have only one governor, and that is Dr. Paul Pearson; for Herbert D. Brown, chief of the federal bureau of efficiency, efficien-cy, has bad a spat with the doctor and retired from the co-governorship which be has exercised exer-cised for nearly two years. In 1929 , congressional committees com-mittees asked Mr, Brown to investigate inves-tigate the Islands with a view to reducing administration costs. He made three long visits there and his recommendations were displeasing dis-pleasing to Capt Waldo Evans, then naval governor. Also, he obtained ob-tained $141,000 to be expended under un-der his sole direction. Last winter win-ter he recommended transfer of the Islands to the Interior depart ment and when this was done be returned to help the new governor, Doctor Pearson, whom be had selected se-lected for the Job. It is said in Washington that Brown, having quarreled with Pearson, has urged the removal of the later, but that it Is unlikely the President will take any such action. ac-tion. The exact cause of the friction fric-tion between the two men is not publicly known. OVERNORS of about half the States took "nart tn th annnnl conferences at French Lick. Inrt. and several of them disrupted the program of harmless topics by in-' Jecting their own vigorous opinions into tneir addresses. Plnchot of Pennsylvania, for Instance, insisted on making a hot attack on the pub lic utility corporations instead of tamng aDout timber; and In the closing; session Ritchie of MnrvlHn1. criticising the conference for try ing to avoid controversial, subjects, urged the return of liquor control to the states as a solution of taxation taxa-tion problems. " I 1 - - rwinrifii'ij TENNESSEE'S ET political-flnan- I cial troubles were approaching a climax cli-max during the week with the state legislature preparing to vote on the question of , impeaching the governor, 11 e n r y II. Horton. The situation in Nash- l , A vlile was tense. Though the foes of Gv. Horton the executive were apparently In the majority, Horton Hor-ton seemed undaunted. Most of the eight articles of Impeachment Im-peachment reported to the legislature legis-lature by a committee relate to a main charge of conspiracy, alleging plots between the governor and Col. Luke Lea and Rogers Caldwell, Cald-well, two bankers who are now under un-der indictment as a result of the bank failures of last November. Congressman Ed Crump, the Memphis Mem-phis political boss, was conducting the fight against the governor, though he kept himself In the background. The resignation of Senator Scott FiUhugh, one of the Crump faction, from the speakership, speaker-ship, and the election of Senator A. B. Broadbent of , Clarksville to fill his place took much of the f thunder away from , the defense, for Senator Broadbent is an independent, inde-pendent, an anti-Crump man, and he will, be the next governor if Mr. Horton is forced out FOUR eastern and western air lines, whose planes fly about 12,000,000 miles annually, have consolidated their management, operation, op-eration, traffic and sales and now become divisions of the United Air Lines, with general offices In Chicago. Chi-cago. The lines Involved In this big merger are: The National Air Transport, operating from New York to Chicago and Chicago to Dallas; the Boeing Air Transport, operating from Chicago to San Francisco; the Pacific Air Transport, Trans-port, operating from Seattle to San Diego, and the Varney Air Lines, operating from Salt Lake City to Seattle end the Pacific Northwest. P. G. Jonnson. president of the Boeing companies, who was recently recent-ly made president of the National Air Transport and the Varney Air Lines, is to be president of the new company. CANADIAN tax payers are bard bit by the first budget presented pre-sented to parliament by Premier R. B. Bennett He announced a deficit of $80,000,000 and said new taxes, would be required to meet It Consequently he proposed Imports Im-ports as follows: Increase in the sales tax from 1 per cent to 4 per cent; reintroduction of 3-cent postage; pos-tage; increase of the Income tax no corporations and stock companies com-panies from 8 to 10 per cent and a new special excess tax of 1 per ont on all Imports. Manufacturers of the United States came off more easily that had been expected. Only about 200 items in the tariff against them were altered by the premier. Cus toms duties were raised on anthracite anthra-cite coal, furniture, oranges and the higher priced automobiles. There was bad news, however, for Americans who have Investments in Canadian, companies, for Mr. Bennett ordained that beginning next Jnly an Income tax of 2 per cent must be paid by all foreign investors receiving dividends -from Canadian concerns. The only bright spot in Cannda's financial picture, Mr. Bennett stated, was the fact that the dominion's domin-ion's conversion loan of $250,000, 000 had been subscribed up to $639-818,500. $639-818,500. He emphasized that during his regime no fewer than 75 American Amer-ican manufacturers had established plants in Canada and made it clear he was sticking close to his "Canada First" attitude. His conclusion con-clusion brought a great ovation from his followers. Chancellor Bruening QERMANYisex- 1 , r4 v pectmg great ' . 3 benefits to result from the remarkable remark-able meeting at Chequers, England, of Chancellor rt t. Bruening ana t or- f(r i elgn Minister JuU- I ' us Curtius with lf prime Minister Y Ramsay MacDon- mAuZ i I old and Forelirn Minister Arthur Henderson. The German statesmen went there Thursday Thurs-day on Invitation from the Englishmen, English-men, and the four men discussed thoroughly the bearing of reparations repara-tions on the world economic crisis. It was the hope of the Germans' that this conference would find a way out of the present financial wilderness. The Chequers meeting aroused the French and led them to reaffirm reaf-firm their contention that German reparations and the Allied debts to America were inseparably connected connect-ed by the Young plan. As it Is put by A. L. Jeune in Le Midi of Paris : "On the battlefield of International debts, where we held the front line so long until the Young plan brought us back to the reserve trenches, it would be a great imprudence im-prudence to give them up." TN A decision that seems to give assurance that the press of America Is and shall continue to be free, the Supreme court of the United States held unconstitutional the Minnesota statute authorizing the suppression of newspapers and other periodicals publishing matter which the authorities deem to.be defamatory of public officials or other persons or Institutions. In the opinion of five members of the court Chief Justice Hughes and Assoclnte Justices Holmes, Bran-dels, Bran-dels, Stone and Roberts the Minnesota Min-nesota law, in so far as It authorizes author-izes such suppression. Is "an infringement in-fringement of the liberty of the press guaranteed by the Fourteenth amendment." The majority of the court took the position that the freedom of the press to criticize public officials Is one of the bulwarks bul-warks of our Institutions, that for nny abuse of this freedom there Is the remedy of punishment under libel and other laws, and that the suppression of periodic-ills because of the character of the mutter published pub-lished would amount to the setting up of a censorship of the press. Associate Justice Pierce Butler, himself a Minnesotan. read a dissenting dis-senting opinion concurred In by Justices Van Devanter, McRey-nolds, McRey-nolds, and Sutherland asserting that the majority opinion gives to freedom of the press a broader interpretation in-terpretation than any that had ever before been recognized. TpHE general assembly of the Presbyterian church, In session at Pittsburgh, rebuked the Federal Council of Churches of Christ In America for report of Its commit-,tee commit-,tee approving of birth control, and adopted .a motion Instructing the council to "hold Its peace on all questions relating to morality and delicacy" until they have been discussed dis-cussed with its constituents. F ELATION S be-x be-x tween Tremter Mussolini and the Vatican were strained almost to the breaking point and outwardly It appeared there could be no peaceful peace-ful settlement of tho nnnrrpl. Rut efforts at concilia- f j S ; lrY war hoi n or it; Dino Grand! tlon were being carried on quietly by Foreign Minis ter Dino Grandl on the one hand and Cardinal Gaspar-rl Gaspar-rl on the other. The trouble centers cen-ters in the Catholic Action clubs. Mussolini decreed the disbanding of all youth organizations connected with Catholic Action because of alleged al-leged political propaganda and closed the clubs and playgrounds. The pope protested against this, both as head of the Vatican City and as head of the church. He made effective his disapproval by withdrawing his personal representative represen-tative from the Padua celebrations, canceling the diocesan eucha rustic congress In Rome, prohibiting church processions and placing the Catholic Action societies under charge of the bishops. Mussolini gave out a statement saying there was nothing temporary about bis acts and that the clubs were per manently closed. Wednesday the directory of the Fascist party ordered the leaders of all groups to be ready to defend Fascism against its foes "under whatever banner." and charged that seme sections of the Catholic Action society had been "openly :ind surreptitiously" hostile to Fascism. Fas-cism. & Wwtr Ntwppr rale.) Intermountain Hews Briefly Told by Busy Readers FREE FUN PLANNED LESS GASOLINE USED WATER SUPPLY GOOD IDAHO FAMILIES GROW. MAY HELP BLIND P00B BOISE, IDA. The Idaho gasoline gaso-line tax brought In about $20,000 less In May this year than during May a year ago, the monthly report of the director of motor fuels discloses. dis-closes. BOISE, IDA. Families in Idaho increased from 100,500 in 1920 to 108,515 in 1930, an Increase of 8.4 per cent, the United States census bureau reports. Average size of families, fam-ilies, however, decreased from 4.3 persons to 4.1 persons, a reduction of 4.6 per cent While the number of families Increased 8.4 per cent in the ten year period the net increase in total population was but 8.2 per cent HELPER, UT. A big community day celebration to be known as "Helper Day," sponsored by the civic civ-ic clubs of the city is being planned for June 25. The program will Include In-clude a Helper-Uintah basin baseball base-ball game, water sports, swimming, games, band concerts, barbecue, parade, pa-rade, and a carnival street dance. Everything is to be free and the entire en-tire program is being arranged to afford the greatest pleasure to the hundreds of people expected as guests of the city. . MOAB, TJT. Mrs. H. Engmann, sails this month for France, where she will visit the grave of her son, Charles, who died from wounds re celved on French battlefields. BOISE, IDA. Jackson lake reservoir res-ervoir on the upper Snake river h gaining la storage daily. Water storage stor-age along -the river is said to be ample although the two main reser volrs of the Snake now hold lest water than at this time last year. SMITHFIELD, UT. The eltj commission has called for a special election, July 7th, to vote on the $50,000 waterworks bond issue to enlarge the water system. OGDEN, UT. Bids on the construction con-struction and improvement of 22.G miles of , highway on the Soda Springs-Freedom route, near the Idaho-Wyoming border, have been advertised by the United States bureau bu-reau of public roads. SALT LAKE CITY, UT. Salt Lake County commissioners have been advised by the County attorney attorn-ey that the state law passed by the last legislature empowering boards of county commissioners to levy a special tax for the benefit of indigent indi-gent blind was discretionary and not mandatory. , OGDEN, UT.--n. Bjorngaard, 30 professional of the local Ski club, was killed In a collision of his mot or cycle and an unknown auto. FREEDOM, WYO. Swiss cheese to the amount of seventy thousand pounds has been forwarded from the recently Installed cheese factory to Idaho Falls. The cheese is to be marketed in California. ROCK SPRINGS, WYO. Wool selling in southwestern Wyoming is very slow, with an estimated sup ply of three million fleeces on hand A brace In the market is hoped for in the near future. SALT LAKE CITY, UT. Re celpts of the gasoline sales tax en motor vehicle fuel sold in April, the tax being payable in May, totaled total-ed $192,980.82 as compared with $204,657.27 collected on gasoline It the same month of last year. SALT LAKE - CITY, UT. Sup port In the move to acquire 8,00( more acres for Camp W. G. Wil llams, summer home of the UtaL National guard, ha3 been pledged bj three of the Utah congressional del egation. Sea R. Smoot, Con. D. B. Colton and Con. Loofbourow pnom lsed their best efforts in speeches before the soldiers in the encamp ment PROVO, UT. Plans for holding eight camps during the summer per iod for the two thousand scouts of Timpanogos council are being rapid ly perfected and the first camp wil be held shortly. NEPHI, UT. The city has en acted an ordinance requiring month ly inspection and approval of a li censed veternarlan on all milcl cows, stables and equipment used ii producing or handling milk. EPHRAIM, UT. Additional casl has been appropriated by the gov ernment for a continuation of the in vestigation of the amount of watei available for the proposed Lunt tunnel east of the city. BEAVER, UT. The city count! has decreed that all dogs and cat. are to wear muzzles for severa weeks. Any dog or cat seen outsldi of Its own premises without a must-tie must-tie is In danger of being shot Tht ordinance is designed to safeguard against hydrophobia, as two calve and a cow recently died from th. disease. IDAHO FALLS, IBAi-A con tract whereby southern Idaho cana companies will obtain from the fed eral government 428.0C0 acre few of stored water in American Falli-reservoir Falli-reservoir at an annual rate of $50. 000 has been agreed upon at a meet ing of the water officials. EPHRAIM, UT. The work ot graveling the stretch of the Eph ralm to Orangevllle road for abom S miles below the Great basin ex perlment station la underway and will continue for the balance of th. wroth. taw 'MlStX zz' .f: Ymn iii.. . r- j-Ww.' y Xi 4 I r ' .-.'. -k t& iT .- rsSf&flv vYsl! w ,r r 1.4 , r--- .: .. t. f u. io- mj.'mt ."tr . w v. an . u v -i m i v j -j v i fa 1- pJ-4 ' ' i Hi . II jSfljJdjjjp, '"Vlft,,"'j',5 oJ-jfc v.'.?''". r '.''Kit i r ' - 1 M Lassey and Dick Grant welcomed at the Battery, New York, by Jule Marshall of the W iCanoe association, after they had paddled their canoe from Chicago to the metropolis. 2-Prof. LI; Piccard and Charles K.iprer sianaing oesiue wv miumuum 6uuUia w mo mm carnea them tt A record altitude of 52,500 feet. 3 S. S. Harvard hard aground at Point Arguello, Calif., photographej tfJ the 500 nasseneers had taken to the lifeboats. ; A ; 1 English Mansion Reported Bought by Henry Fori I 1 - issuer t I V -iin1 ---J7-'- , ..,l1lffmv-1v - . $ ltUi'.J 0 lU I '' ! I s 1 1 5 h f v i M lllwr v1 hit v 4 Henry Ford, American motor magnate, It Is reported, has purchased Boreham House, near Chelmsf England, an early Eighteenth century mansion. This residence was for some years the Essex seat of L Kenyon. , ' ..- .' .-. '---r . ' - ...... .;.-v, TTiree Best of Annapolis 1931 Class K vwJ A ' 1 I " I "'-Ktt " If x ; ' H V: O .; 7 & :. ft IS" ' " ktt r '. T it , ft O 'A . s' 111 I . 1 1 U ... r i i ' - v4-" . 'L ' f" jf ih i - j . i ,i i??4 - . r Jm mn- l 1 -.. . . ft -c.;.iVffft' -a(. - f 5 mst Thomas D. Tyra of St Paul, Minn. (left), honor man of th 1m IJSSdf SS SKSf1?4,8 ?aval JitZiSX who attained a mark of 902.39 during his four years. nhotoirraDhed with A C Veasey of New Jersey (center) and H. Riverofjr vvho follow him with marks of 900.67 and 900.30 respectively. . Commerce Department's New Home S J , 1 . j - tJi 'All ef tto Apartment 0 mammo down?owtTaSATxS ,n the ,!ne of north and south and T bl"k S it LVf"1' of three city b,ocks tog in the United States. U U toe largest federal office bBild" WINNER OF BIG RACE I Louis Schneider won tie ft teenth annual 500-mile auto race Indianapolis. Schneider's tw H 5 hours 10-minutes 2M4ieJ an average of 96.629 mJ hour. Fred Frame took place and Jimmy Gleasoa third. in hkSnavauI HoDalltif, report ot L tonnag Upectio U !enl i'jeM ln 1 td ..Ued i revived. . British t sd were a !jS IB their whlcb, it 1 ted br th t Jaffa- 1 e recovere i extent, i lr Unes by mi and ba the Plai the least . 4imt tak ni In the war coun ider in tl hreaenouui f t ..indF jo mak kwas too on th8 wl the roci i Would Would they j It? . I Interallied Vea all wert (lathe ass j7 of for ier Clemei lot brieflj haflce of th !tj of tra of the a! tempts at i nor was i i any m concer t. shipping, 'we ment: il way. ' (more tha t the ft left l tt tote Mivery c JooHiig to ;ddltlonal': Jre the allle I more eag n than on: j every pos M Shippip; I tallies' put, so . w tithe expe' k the 8t Ivor of lm aid In to I some tin for any sEnage hat ! and it lo J have t( vA resoorc British wi fee to th I America s Sowmlx I s 54.75L Our Engl f e results c 'sabral we lu the Q p. Gen. i ffiblet i f, im, and i tathei The) and 1 'tpedhl S of the Io !ai la t fluent o! I ieme I the w f hi the I whet u 1 officer i tied taj f ; They i W Cou leeoac ? war to ,uumws... 1 r- tere r 5 Ih ftio i - . i j : Xi W, I - - - x yi ; f Till Hear Admiral fJ&i son, newly PPJg" narj A chief of the United States he appeared at gj, Navy building after taKi ; . official duties. Prior to J J ment Admiral R'il rank or capia.... - , Kear Aamira ntT was ordered to So Will tt.Wolf bf- ... a in... if vou rjakc " , i fhin? ior - ..i oner oi w"""" ,Mtpo P51 1 ae 1 - res 'vt!ea ifae r.t F the i fun lStj Km Ffifl' .... . t nfilei Midge th.t(-S It is the litUe tU most of the rumpus in American Magaf |