Show News Review of 01 Current Events J t a aBC BOOSTS BC FOR EAR BUSINESS Encouraging Speech President H HS Has S Building Plan e Japs Take Shanghai Shanghais s p a c r t I 1 t s w y N A Ax M x France has bought 10 of our store of gold sad and part or of the big shipment sent front New lIw York on the Is hire seen being un unloaded unloaded loaded rom a truck at II a North river pier We s SUMMARIZES THE WORLDS WORLD'S WEEK I II Western Newspaper er Union Unton Balance Budget men of ot America re reD BUSINESS D a cheering message pre presumably sum ably direct from the adminis administration delivered by Secretary ot of the Treasury Mor Addressing n the Academy of ot Po 1 Sciences in New York Mr Mor Wor declared t the time had come for lor balancing the budget but said this should be accomplished pUshed without addi additional Al taxation Encouragement for Secretary industry and busi ness was stated thus The laws should be so written and administered that the taxpayer can continues to make a reasonable profit with a minimum of ot Inter interference terence ference from his federal government gO govern gOern ern meat ment Moreover Mo the treasury head wenton went wenton wenton on record as opposed to a continuance ante ance of ot the era of unlimited govern government government ment spending Said he The The basic need today Is to foster the full application op ap application placation of the driving force ot of private capital We want to see capital go Into the productive than chan channels channels nels of ot private industry industry- We want to see private business expand The pl-m pl advanced by Mr Mor for balancing the budget was to bring next year s expend expendi expenditures tures fures under the 1939 budet budget which takes effect next July 1 within this year s s To achieve a bal balance balante ante ance exclusive of debt retirement payments the present scale of ot ex cx expenditures expenditures would have to be sliced he added While he urged against tax In increases Increases creases Mr suggested that a broader base bise for income taxes increasing the number of ot tax taxpayers taxpayers taxpayers payers above the present 3 would be a more equitable lute tute for tor the present federal taxes on the consumers consumers the so to called nui nuisance nuIsance nuisance sance taxes c- c I cI Presidents President's Building Plan P PRESIDENT RESIDENT ROOSEVELT In a af conference with several business leaders told of his new plan for checking the threatening depression by stimulating private home build building ing by private capital lIe He re revealed revealed no details but Chairman Ec Eccles ECcles cles des of the reserve board said the President was confident such a pro program program program gram would reach full scope s cope year Eccles was unprepared to say fay whether the undertaking would be directed through a new government agency but thought li ot of some sort probably would be necessary necessary sary One suggestion is iq I that the social security reserve be used for loans for home construction At present It is being used to pay current gov government government expenses The recent decline in residential bUilding is generally held responsible responsible responsible ble to a large extent for tor the slump lump in steel mill activity Ity from 90 percent per percent percent cent of capacity to 40 per cent Shanghai Falls to Japs STUBBORN defense of at Shanghai by the Chinese came come to an end when the Japanese troops made their way across creek and occupied the entire city The de defenders defenders fenders retired westward and pre prepared prepared pared to block the way ay of the In Invaders invaders invaders toward The victorious Japanese spread death and destruction through Shanghai and mercilessly shot down the Chinese Chines groups which were ere trapped in various quarters They turned machine suns guns on a platform Inside the conceSSIOn from which a number of foreigners were watching the fighting and ohe Stephens correspondent of the London Daily Telegraph was as Sr n shed PO In Brussels the tar Far East pence peace conference was considering a plan for giving direct aid to China 11 Japan should reject mediation Co- Co Coercive Co Coercive action against Japan was as not thought advisable but the idea waS wa'S that China should be permitted to obtain munitions and arms to keep heep up her fight The chief chic difficulty would lie in American neutrality legisla legislation tion tc k Corn Crop Estimates PRODUCTION PRODUCTION of corn in the Unit United United ed States this year will total 2 bushels the Department Depart Depart- Department Department ment of Agriculture estimated on the basis buls of ot November 1 conditIOns The estimate was WelS 89 80 bushels larger than me the forecast of ot 2 bushels bushels b a month ago In 1936 1 bushels were har har- harvested harvested harvested vested Private estimates of the current crop ranged between 2 and 2 bushels with the average about 2 2636 bushels iC- iC France Buys Our Gold TWO Two big shipments of ot gold gold- gold abroad wele made mada by the gov government gov- gov government within the week The first was 10 sent to France on the Normandie Then 5 was started to England on the It was believed other shipments would follow before belore long The gold shipments were ere handled by the stabilization fund and were regarded as us an operation under the tri partite agreement which binds Great Britain France and the Unit United United United ed States in in a gentleman s pact to maintain currency stability tc K Ramsay MacDonald's Death RAMSA p 0 Y MAC DONALD who rose from poverty and obscurity obscurity obscurIty ity to become three times Umes the prime minister of the great British em empire empire pire died suddenly of ot heart disease on a steamship bound for South America where he was to take tahe a along along along long vacation with his daughter He was seventy one years years old and had Ind was years b been eun practically a ti all out ut of P- P PU politics U si since 1935 when Stanley Baldwin succeed succeeded succeeded ed him as prime minister Mac MacDonald MacDonald MacDonald Donald at that time was offered alTered a peerage but declined the honor Even his has political foes toes admit that he heas was as one of the outstanding states statesmen statesmen statesmen men of the time iC K Italy Joins Reds Anti it 1 1 has given the deco dem 1 V Zvi ocra tic governments of ot Europe something else to worry about for tor Italy has joined Germany and Japan in their agreement i to combat communism and no one knows s how far this alliance will go or Of just lust what are its in intentions w The three q charter members P of the pact that pact status was as given Italy hope hope that all other othu fascist minded nations including Poland Portugal Joachim Hungary and some of the South American republics wIll adhere to the agreement Political observers saw the prospect pros prospect prospect of If a world divided into three thrLe fascist camps communist and democratic Emerging as one of ot the probable chief leaders of this united front Is Joachim von German ambassador to Great Britain Hiller sent him to Rome to sign the new pact and it is 15 expected that the headquarters of the alliance will be bein bein bein in Berlin Officials In Rome stated the pact was not directed against any coun coun- country coun- coun country country try and said Russia might have all the communism it wants ants so long as she keeps It at home But they In- In in intimated the military forces of ot the signatories were ere ready to back up the agreement Brazil Hasa Has Heu a Dictator GETULIO VARGAS president en of Dt Brazil is if now dictator of that country In a coup that was unopposed unopposed unopposed posed he dissolved all legislative bodies and put Into effect a new constitution with corporative fea- fea features fea features tures He H issued a manifesto da- da dad de declaring d claring aring the suspension of ot payment on all government debts abroad The foreign relations ministry In Rio de Janeiro said caid Vargas coup was not connected with European political Ideologies and denied dented re reports reports r ports port Brazil planned to join loin the German Japanese Italian pact against communism Reasons for Thanks AMERICA I A MERICA can be thankful for the I blessing of peace President I Roosevelt asserted In a proclamation proclamation hon tion designating November 25 as Thanksgiving day A period unhappily marked inmany In Inmany inmany many parts of the world by strUt strife nd nd threats of ot war finds our people e c the blessing of peace he said We have no selfish designs against other nations At tho outset of ot the proclamation the nt FresHo-nt 11 said the the harvests ot of our fields have been abundant and many men aM d women have been given the x g of employ employment ment i Bloch to Head navy avy A BOUT the first of or next February tx the American na nary will have a anew anew anew new commander in chief in the per person person person son of ot Admiral Claude Charles Bloch nominated by Secretary Swanson to succeed Admiral Hep burn The son of ot a Czechoslovakian an Immigrant and a native of Wood Woodbury Woodbury Woodbury bury Ky he is now fifty nine years old After his graduation from the tile no na naval noval naval val academy Bloch served under Fighting Bob Evans Evana on the U S SS SS SS S Iowa in the th Spanish American war and was cited for meritorious service service in re rescuing Spaniards from burning ships of Cervera's squad squadron squadron ron ran During the World war as corn com the transport Plattsburg won the navy cross eross for tor dis service iC Judge Graham Passes WILLIAM x J GRAHAM V Y ing tag judge of ot the United States Court of ot Customs and Patent Ap Appeals Appeals Appeals peals and for nine years a bean hcan congressman from Illinois died of ot heart disease at a t his home In InI I Washington He was as sixty flue fl 11 e years old dc Our Navy Grows Rapidly OF THE NAVY SECRETARY CLAUDE CLA UDE A SWANSON reported re reported reported ported to the President that the navy Is stronger than at any time since war days and is I moving steadily up to the the full full strength strength ElY permitted by the p I treaties Iby abrogated I by Japan It will wm not go beyond the limi limio o S m h in those l lh I pacts unless other c nations do so soUnder soUnder j Under its big re replacement replacement placement program ro the department has Sec Swanson under construction two new battleships and has appropriations appropriations for tor 85 other warships These include three aircraft car car- carriers carriers one heavy cruiser nine light cruisers fifty five destroyers and seventeen submarines Five years ago the total mum num number ber of under age vessels was of tons with twenty three yes ves vessels vessels sell sels of tons under construe tion Today the navy has yes ves vessels vessels sels of tons under age and eighty seven vc vessels sels of at tons under construction k I Farm Measure Ready Ready VOLUNTARY crop control for tor fory y wheat corn rice and cotton ana compulsory limitation of ot tobacco tobacco co production are provided for sn m inthe the new farm measure drafted dratted by bythe bythe bythe the house committee on agriculture I for action in the extraordinary ses session session slon sion of at congress Secretary Wallaces Wallace's ever normal granary plan is Included in the bilL The measure also provides for tariff equalizing t taxes which would be actually a revival of the processing taxes which the Supreme court declared unconstitutionaL These taxes would be applied only to wheat cotton and rice rice 3 3 cents a pound on cotton 20 cents a bushelon bushel bushelon on wheat and end 12 5 cent a pound on rice For the protection of consumers the bill provides that when prices of the respective commodities exceed parity by 10 per cent the ilie secretary of agriculture shall shaU call outstanding commodity loans thus releasing stored commodities and in this way oay preventing excessive excessive f prices Presidents President's Birthday PRESIDENT PRESIDENT RESIDENT ROOSEVELT has authorized the use of his fitly fifty fifth fUth birthday January 30 for the promo promo- promotion promotion promotion tion of the nation wide fight on In paralysis As In previous years the tile day will be celebrated in many cities with balls This time the funds raised thus will not be I handed over to local agencies but butI butwill butwill will all aU go to the National Foundation lion for Infantile Paralysis which was created rece atly b Mr Roose veIl The President has approved the appointment of ot a 8 committee headed by Keith Morgan of ot New NewYork NewYork NewYork York to arrange for tor the lions |