| Show I L Preva Pre V acL i I i ng Opi Opinions n ions ion s I Comment e of the e American Press Press- Spies in Fiction and in Fact The exposure of nazi secret service service service ser ser- ser ser- vice operations in the United St States tes achieved by our men G-men is not precisely calculated to send the American citizenry under their bed o 0 nights Perhaps the excessively excessively ex ex- cautious may suspect that so obvious a farce was subtly subtly sub- sub thy framed by the nazi espionage age bureau to calm our fears and relax our vigilance We have enjoyed the show at any rate which indulges our sense of superiority sup superiority su su- su- su p but this may be a mis mis- take It is hard to believe that any govern government nt should be so inept even though we have observed how inept the conduct of foreign relations can be in the hands of German officials But we might be well advised to consider that the operations operation of espionage are not confined to the nazi government and that there are practitioners whose skill is not to be laughed off in inthe inthe inthe the light of the New York comedy Probably there has never been beena a a. a science and practice of espionage age so ruthlessly searching as that developed in Russia but es espionage espionage es- es Is a part of the technique technique technique tech tech- of government in Europe and has been carried to a degree of skill ingenuous America does not suspect Our inclination tion to mind our own business both as individuals and as as' as a nation re resists resists resists re- re suspicion and even distrusts demonstration We are disposed to take disclosures lightly and see melodrama where there is is too much actuality for our comfort Chicago Tribune France Looks to Her Colonies Premier plea for loyal co cooperation per tion with Germany made at the national convention of of his radical socialist party Indicates in indicates indicates in- in that France is following the British appeasement policy of closer relations Hitler's Hither's reich At the same time the premi premiers premier's rs r's denunciation of the French communists communists com com- as of ot government government government govern govern- ment undertakings suggests that there is more than a theoretical disruption of ot the alliance between en Paris and Moscow as a result of the Munich conference Of even greater significance is M. M insistence that France is in fact an empire and that her future resides in large part in her overseas dominions This would appear to mean that the premier hopes to discourage the idea that his country has any ns concerning aggrandizement aggrandize aggrandize- ment in Europe All this might be reassuring for forthe forthe forthe the continuance of peace provided there was any likelihood that Hitler's prospective demands for forthe forthe forthe the restoration of Germanys Germany's war- war lost colonies would not raise new complications As a European nation France is fac faced d with difficult problems It Itis Itis Itis is difficult to perceive that they are made less difficult by placing emphasis on empire status Far- Far flung possessions are not always assets as Great Britain may at at- test Philadelphia Inquirer Intermediate Credit One of The most widely discussed discussed discussed dis dis- dis- dis cussed shortcoming of the country's country's country's coun coun- try's banking system as presently presently present present- present present- ly constituted and nd functioning has been its failure to provide facilities facilities facilities facil facil- for the small company which does not have ac access ess to the capital capital capital cap cap- ital markets and for the moderate moderate mod mod- erate crate sized company which needs working capital as distinct from term short-term self-liquidating self credit The need for such funds usual funds usual usually ly described as intermediate credit has credit has given rise to a de demand demand demand de- de mand recently that the government government govern govern- ment meat step in and set up a supplementary supplementary supplementary sup sup- credit system to fill fill this gap The Association o. o Reserve City Bankers through the Institute ot of International Finance at New NewYork NewYork York university has just prepared and issued a document with a very important bearing on this contro- contro versy This document is a plea for a wider recognition by commercial commercial com corn mercial banks of the possibilities of term loans A term loan the institute study describes as asan asan an intermediate capital credit written to run for a period of years and usually predicated upon complete extinction by serial pay pay- ments meats Anticipating the argument that it is not the business of commercial commercial commer commer- cial banks to provide ca capital ital for business this study expresses the view that term long-term and nd short- short term credits do not necessarily belong in different categories The report of the Reserve City Bankers makes no secret of the fact that one reason why expansion expansion expansion sion of operations in the field of ot intermediate credit is desirable is that if it the banks themselves do not provide it the government probably will wm But Bait its authors are properly aware aware award of the fact that this alone would not ot justify such sucha a banking innovation if it did not commend itself on the basis of soundness Certainly it is greatly to be desired that if it there are shortcomings shortcomings shortcomings short short- comings in the banking system they should be rectified within the existing banking framework rather than by the establishment of another government institution New New York Herald |
