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Show TIIE BULLETIN Wocklv !'own Analysis Agriculture natural result of the U. reciprocal trade agreement is that some domestic industries will gain, others lose. The theory is that Italy Follows Hitler Technique To Trounce Weakened France 10801111 By EDITOR'! MOTX-W- Ses epiaiaaa an atfnaiad ia thaaa eahtaua. that an than at tka aawn amalyat, oai mat aaaaasarilr aI tka aawtrapar. France la his widely quoted "Mein Xampf, Adolf Hitler avers that once a nation shows signs of weak ening, its enemies should seize the opportunity to press every demand. This year he has followed that policy successfully in Austria, Czechoslovakia, Great Britain and France. Now his Fascist cohort, Italy, is using the same tactics against France. First French capitulation to Italy was the recent recognition of Mussolinis conquest in Ethiopia. This was followed closely by French internal strife, when the radical Popular Front attempted to defeat Premier Edouard Daladiers drastic reform program. In the midst of this turmoil, it was strategic for Italys tion; business thought it rested in less regulation. Not until last year, when an unexpected recession slapped convalescing industry in the face, did both government and business decide it was time to face the problem with less bias and more objectivity. By the end of 1938 this new attitude is finding expression at Washington and on the U. S. business front, though mutual agreement is still far from realization. Washington: Governments efforts currently center around the $500,000 temporary national economic committee, which has just opened a hearing under Wyomings Sen. Joseph C. OMahoney. Though business has feared the quiz will degenerate into a "witch hunt and drive (since the justice departments trust buster, Thurman Arnold, is a committee member) Mr. O'Mahoney has given assurances that his group seeks only "economic facts." "Facts presented thus far, by the labor department's Dr. Isador e WPA Economist Lubin and Leon Henderson, purported merely to give a background but ended with expressions of opinion which failed to harmonize. Dr. Lubins report: That the 1929-3- 8 depression cost the U. S. in national income, plus 0 in wages, $119,000,000,000 in stockholder dividends, $38,000,000,000 in farm income and 43,435,000 in man hours of work. Though industry can be stepped up to meet consumer demand, it is more important to improve the standard of living, since U. S. population is reaching a stationary stage. Durable goods industries should be stimulated to boost the average income by $750 per year. Mr. Hendersons report: Growth of U. S. economic activity has been halted, and even a return to 1929s peak (which Mr. Henderson believes should be regarded as a low base, not a peak) would leave 7,000,-00- 0 unemployed. Unlike Dr. Lubin, who believes insufficient purchasing power is the cause of our ills, Mr. Henderson places responsibility on lessening of competition. True competition, he believes, could not allow wage increases at a time when millions are unemployed. Even as Messrs Lubin and Henderson were speaking, Chairman Marriner S. Eccles of the federal reserve system was offering New York bankers another U. S. idea on business. One reason for 1937s setback, he said, was a sharp withdrawal of government spending, which throttled consumer buying power. Plumping for looser credit ar ly one-tim- 00 $20,000,-000,00- FRANCES AFRICAN TUNISIA One concestion invites another. chamber of deputies to launch a tumultous campaign for three French possessions which Mussolini covets: the African territory of Tunisia, the island of Corsica and the Franco-Italia- n border city of Nice. Later came a rebirth of demands for French-owneDjibouti, which would give Ethiopia an ocean outlet. Frances answer has been a firm negative, but this can hardly be construed as final. There is every indication that the Djibouti claim will be granted, since France was ready to make this surrender last summer. What complicates the situation is the "friendship pact which France's ally Great Britain has just instituted with Italy. Although this treaty respects a territorial status quo in the Mediterranean, Prime Minister Neville Chamberlain is going to Rome next month with an apparent blank check to appease Mussolini as he sees fit. If Mr. Chamberlain approves Italys new demands, France will be left helpless. Only hope In an otherwise befuddled situation is that Germany may break with Italy. After helping Hitler reach into the European grab bag for new territories, Italy is beginning to wonder where her share is coming from. But Germany, happy over her new treaty with France, may ask Mussolini to look elsewhere for new coloThe new crisis certainly nies. proves no more than what sane observers have maintained since last spring: that France and Britain n apmerely whet the petite each time they oiler a concession. d on Italo-Germa- Domestic Last spring the New York legislature passed a bill which potentially effects every citizen in the U. S. Reducing from 6 to 5 per cent the interest which life insurance companies may charge on policy loans, bill has necessithe Piper-OBrie- n revision of intertated nation-wid- e est rates because insurance com- DR. ISADOR LUBIN flit cure: higher living ttondord. By reducing policy loan interest charges from 6 to 5 per cent, insurance firms will lose annual revenue totaling $50,000,000. Other factors necessitating higher premiums include the difficulty of finding satisfactory capital markets, and the small amount of new financing now being done. Business People tracts. Until this year, depression-ridde- n U. S. did not bother to ask why the nations economic cylinders had grown rusty. Government and business alike were more interested in oiling the machinery than in replacing or adjusting misfit cogs. Moreover, both worked from different directions: government thought the cure rested in greater U. S. regula- - wsJR NEWS 4-- THIS "co-operati- public-minde- The name of Masaryk, famous in Czechoslovakian history since Thomas G. Masaryk founded the nation 20 years ago, will leave that nations officialdom forever on January 1. Jan Masaryk, son of the Czech "father and minister to Great Britain for 14 years, has announced his retirement in protest to his countrys capitulation to Germany. SEW Ruth Wyeth Spears " 1 BLACK 2 RED WEEK 3 BRIGHT BLUE six-ce- nt By LEMUEL F. PARTON el 100,-000,0- 00 $5,000,000. What will happen to the U. S. wheat situation between now and next spring is anybodys guess. Even though the export program is carried out completely, a 250,000,000-bushsurplus will still face farmers when they start harvesting next year's crop. Latest in a series of suggested panaceas is that of Dr. Merrill K. Bennett, economist of the Stanford university food research institute, who wants the U. S. to place a floor somewhere between 55 and 70 cents under which wheat prices could not falL Next year, he predicts, the world may be literally swamped with surplus wheat.,' el In the pre-wyears, about the only newspaper man who covered Europe was Henri S. De Blow-itthe Bohemi-U- . a. scribes an who became a Frenchman Set Pace for cooped the British Boys world with the full text of the treaty at the conference of Berlin, at foe end of the n war. Although he did this for foe London Times, English journalists distinctly that, rather than newspaper men seemed to think it wasnt quite cricket and they went on wearing spats, carrying canes, and dodging I remember citing to an English friend foe De Blowitz book, published posthumously in 1903, In which he told how he got that beat on foe treaty an exciting newspaper yam if there ever was one. Bit of a rotter, dont you think? said foe Englishman. After the war, the English correspondents started shaking a leg, but, with all this Chauvinism loose in the world, we may boast that it was the American lads who set the pace. One press association and a few of our newspapers sent over to the big war some news beagles who began retrieving stories right under the nose of the morning coat scribes. Theyve been getting better all the time, and one of the is Frank Smothers of the Chicago Daily News, the tenth correspondent to be bounced out of Italy for faithful reporting in .foe last NEW YORK. President Roosevelts critics have charged him with creating the current rearmament campaign to make the public forget his defeat in Novembers election. Although the rearmament program has been advertised as a quick way multi-billio- n to put men back to work and stimulate business, critics further allege that it is simply a form of If so, the U. S. Chamber of Commerce has complained that rearmament is a cumbersome and slow process, poorly adapted to pump-primin- g. pump-primin- g. reasons for the outlay, questioning legislators want to know if a $350,000,000 increase in next years arms appropriation (the first in a proposed series) is justified by world conditions. Another important question is who will offihandle the money, army-nav- y cials or political appointees. A third: how much of the money would be spent for defense of the immedi- ate U, S. area, and how much for other parts of the Western hemi-sphere? Idahos sagacious Sen. William E. Borah is one of few legislators thus far to comment on the bill. His opinion: "If this huge armament trend continues, the people are going to demand a voice in the matter of going to .war. This statement once again shifts the spotlight on Indianas Rep. Louis Ludlow, whose constitutional amendment calling for a referendum on offensive warfare was defeated by the last congress. Having won last month in a campaign based on this issue alone, Mr. Ludlow plans to his measure before the next congress. Seeking five-ye- ar BACKING OF IGHT BLUE VELVET leg-wor- k. . rs year. Mr. Smothers was a and reporter in Chicago for nine years before he went to foe Orient, as correspondent for foe Chicago Daily News and foe Boston Transcript. He was close in when the Japanese made their first grab .for China and pegged home some of foe best stories from that beat In Italy, he made a similar record. A keen analyst, as well as r, he is one of a number of American foreign correspondents who have told the story of world catastrophe faster and better than any others at any plaee or time. He grew np in Roseville, III., and finished at the University of Wisconsin, after two years at Northwestern. He is 37 years old. fast-steppin- g fast-thinki- pincushion a best seller. square. The velvet used for backImprovement pHE Town was giving a sale to ing adds foe richness that all raise funds in a village where we small gifts should have. Sawdust were visiting. Our hostess had "or hair from an old mattress are been to foe sale early in foe day most satisfactory for stuffing. If you would like to make soma and triumphantly displayed tiny d pincushions pur- of these cushions for 'gifts or for chased for Christmas gifts. They your next bazaar, clip these direcwere so colorful and quaint that tions and keep them as they are we went in search of some. We not in either of foe books offered found them, but on every one was below. NOTE: Mrs. Spears Book 2 pinned a ticket SOLD! The lady had scored a hit who made those Gifts, Novelties and Embroidery, little three-inc- h pincushions as her has helped thousands of women to contribution to the faneywork use odds and ends of materials booth. They were kept for dis- and their spare time to make things to sell and to use. Book 1 play even after they were sold. The top of foe cushion should Sewing, for foe Home Decorator, be made on tapestry canvas or is full of inspiration for every round thread art linen so that foe homemaker. These books make threads may be counted easily in delightful Christmas gifts. Mrs. This Spears will autograph them on remaking foe foundation material should be quest. Crazypatch quilt leaflet is marked off in squares as included free with every order for shown in foe diagram at foe upper both books. Address: Mrs. Spears, right. The numbers indicate foe 210 S. Desplaines St., Chicago, I1L color used for each Books are 25 cents each. Cross-stitc- h asso-ciati- on cross-stitche- cross-stitche- s. 1 cross-stitchin- g news-gette- RUBLEE, 70 years O EORGE is beset with a thousand old, plans for taking care of European political refugees, as he heads the American efforts in George Ruhleo this humane un- Vet of Delicate Negotiations His dertaking. fame rests upon ' his achieve- ments as an international lawyer, . seekers-after-justi- i "SQUARES ON ROUND THREAD ART LINEN WITH A HARD TWIST -EE DLE POINT YARN Franco-Prussia- of foe firm of Covington, Burling & Rublee, of Washington. He was a strong supporter and ally of foe late Robert La Follette. Whenever they have had oil trouble anywhere in the Western hemisphere, they have sent for Mr. Rublee. He has straightened out snarls over oil rights in Colombia, Mexico and other Politics countries. He was a friend and associate of the late Dwight W. It is plausible that November elecMorrow and helped him settle tion gains by the liberalized Rea number of oil and banking publican party should give strength e arguments in Mexieo. to Republicans who have He is a native of Madison, Wis., taken a back seat in party affairs since the disastrous defeat of 1936. and an alumnus of foe Harvard law This very thing happened at the re- school. . He began foe practice ol cent national committee conference law at Chicago. in Washington, where confident liberals found themselves confronted '"THERE was a news story foe with an unexpectedly strong faction other day about a thwarted artof Hoover, duPont and Liberty ist, who came through and had a league Republicans. A still more im- glorious revenge on his fowarters. portant shift is that liberal G. O. P. The Fine Arts strength, which originated in the Flunked Artist Substitutes assometroto rural areas, has moved Evens Things ciation, in bepolitan cities and has been supplanthalf of teachers ed in the small towns by a stronger With Boppers flunked by foe conservative element. Having ap- New York board of examiners, gives Danpointed a conservative an exhibition by which foe public of O. iel Delaware) and a is to judge whether foe board Hastings liberal (Harvey Jewett of South Dabopped them unjustly. Among the kota) to fill two executive commit- exhibitors is Max Weber, distee vacancies, the party now finds represented in foe itself deadlocked on a future course. tinguished artist, who was museum, Metropolitan, Though much talk is heard of po- among those flunked by foe board. tential 1940 candidates, it is believed With his picture goes a note to foe the party must first decide which board in which Mr. Weber tells what way its course shall be set to lib- he thinks of it and cites his suceralism or conservatism. cess as "proof of their incompetence. Religion Mr. Weber, a native of RusMost for Gersia, here at the age of 10, was a many's beleaguered Jews, even the modernist, so far out of Bounds official intergovernmental committhat the academicians would tee now meeting in London, have turn in a riot eall whenever anymade only slight effort to secure perbody mentioned his name. lie sonal contact with the No. 1 enemy has been marked up more by of Jews, Adolf Hitler. The only the critics probably than an move in this direction was made by other man In America. The turn in Mr. Webers fortunes George Rublce, American member of the intergovernmental commitcame in 1925, when a discerning tee, who will not visit Hitler with- New York Sun critic, among othout an official invitation. But from ers, piped him up as a thoroughly New York recently sailed three competent artist. His pictures sell. Pennsylvania Quakers, who an- He has a nice home at Great Neck, nounced they hoped "to see ChanLSng Island. ConsulMutrd New FeMurrs. cellor Hiller himself and take up WNU Service. the whole problem. (ex-Se- CROSS-STITC- H gh z, bell-ringe- White House ar sure-enou- old-lin- restrictions by banks, Mr. Eccles hinted that their failure to follow this plan would result in government credit agencies. Summing up statements by Lubin, Henderson and Eccles, observers saw that governments efforts for business revival are still far from clear. Business: More tangible and optimistic is the reform program of U. S. industry, heartened by the current economic upturn and willing to make peace with government. Meeting in New York, the National Association of Manufacturers keyto make noted for Its points: (1) America click. peace with labor; (2) acceptance of social responsibility; (3) acceptance of regulation, in general theory; (4) end unemployment; (5) please the consumer with higher quality, lower d costs and policies. Business requests to government: (1) Wagner act modification: (2) limitation of armament expenditures to avert unnecessary diversion of funds; (3) no encouragement of foreign trade at cost to domestic industry. panies cannot charge different rates in different states. Upshot is that most companies are boosting their premium charges from 10 to 20 per cent on policies written after January 1, although many firms made the change December 1. Policies in effect before the readjustment will not be affected, but in addition to lower interest rate and higher premiums, the following additional revisions will be made on most new policies: (1) reduction of guaranteed interest rates to beneficiaries; (2) lower interest rates on dividends left with (3) increased precompanies; miums on endowment annuity policies; (4) withdrawal or substantial change in certain types of con- gains offset losses, working national benefit. First tests of this policy now loom as a result of the federal surplus commodity corporations sale of 20,000,000 bushels in American wheat to British flour manufacturers. Until now, the corporation has subsidized both flour and wheat exports, but British millers think this is unfair in view of Englands agreement to remove its tariff on American wheat. Consequently a stipulation in the 20,000,000-bushsale is that F. S. C. C. subsidy on flour exported to great Britain (currently $1.05 a barrel) be removed. Thus U. S. wheat sales to Britain will be facilitated, but flour manufacturers will lose an export market. The British sale is by far the most important transaction yet made in Secretary of Agriculture Henry A. Wallace's program to subsidize bushels of export wheat this fiscal year. By early December this program had netted sales of 63,000,-00- 0 bushels, of which F. S. C. C. had purchased 28,420,000 bushels by November 15. Of this, 19,000,000 bushels had been sold abroad at an average loss to the corporation of 12 Vs cents. The British transaction alone will cost F. S. C. C. about WHOS to-ou- r W. La Bine two-ye- (Om A When you ask your dealer for Arid-Tre- e Quaker State Winter Oil, you are taking the maximum precaution to insure Winter driving. Quaker Slate pioneered in the development of motor oils for Winter use. Its lew cold tea will relieve you of starting troubles. 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