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Show News Review of Current Events the World Over Roosevelt Tlan on Farm Loans Calls for Two Billion Boml Issue 30-Hour Week Proposed for Workers The Akron Disaster. FOLLOWING the rending of a brief special message on the subject from the President Senator Robinson of Arkansas introduced the administra- rW tlon's 'nrm m0Tt-e ; ' J- refinancing bill which. '5i with the farm relief -1 bill, is designed to lift the farmers out of :V.S the slough of dopres-f dopres-f . ,i : i sion. W" The bill provides " 1 for issuing by the j s I farm loan banks of s bonds to the extent '&LZJ of KAV.000.0M. on which the government Senator guarantees the Inter-Robinson Inter-Robinson t p.lvlll0nts. The bonds, or the money derived from their Rile, are to be used by the farm loan banks for the purpose of taking over the farm mortgages on which the interest in-terest rates cannot be more than 41-i per cent. The expectation is that with money available to settle with his creditor the farmer can scale down the principal prin-cipal of his debt to a considerable extent. ex-tent. Henry Morgenthau, .Tr., governor gover-nor of the new farm credit administration, adminis-tration, believes mortgage Indohted-neA Indohted-neA .nay be scaled down in two ways, A trortgagee, willing to settle for cash or bonds at 70 or SO per cent of the principal, could exchange the mortgage mort-gage on that basis for land bank bonds. The bank then would refinance the farmer at per cent Or a farmer making a composition with his creditor could borrow the funds for settlement from the land hank. Opposition to the legislation revolves around two arguments. One is that it will be an inducement to farmers to default in the payments on their present pres-ent mortgages in order to persuade mortgagees to settle at less than face value. The other is that such a vast flotation of 4 per cent bonds would tend to demoralize the bond market and react unfavorably on banks and Insurance companies with large bond portfolios. The maturity of the bonds Is to he fixed by the land banks and probably will be SO or 40 years. Stated briefly, the main provisions of the farm finance bill are as follows: Federal land banks Are authorized to issue up to J2.000.0i'0.000 in 4 per cent bonds, interest guaranteed by government. govern-ment. The same banks could purchase first mortgages on farm land or exchange bonds for them. The treasury is authorized to subscribe sub-scribe 5:,0.000.000 to the paid-in surplus sur-plus of the banks. Interest rate on loans on mortgages hall not exceed 4 H per cent. A total of 1 1 5.000.000 would be available avail-able from the treasury to compensate banks for interest reduction. The limit on mortgage loans would be raised from SC.V000 to J.iO.000. Voluntary liquidation of joint stock land banks is provided. A total of $1 00,000,000 of Reconstruction Reconstruc-tion Finance corporation's funds is made available for loans to fanners for refinancing their debts in accordance accord-ance with provisions of the new bankruptcy bank-ruptcy relief act. Ueconst ruct ion Finance corporation Is authorised to loan JS0.000.O00 to drainage, levee and irrigation districts to reduce and refinance their debls. Increases the lending power of the F.eoonsiruction Finance corporation by J200.000.000. THE number of veterans to be affected af-fected by the President's order reducing re-ducing veterans' benefits will not be known for some time. In one way or another it will be felt by practically all of the Spanish-American and World war veterans, and the widows of veterans of these wars now on the government pension rolls, because it reduces the rates on the greater part of such pensions as will continue to be paid. These reductions and those 1o be dropped from the pension rolls will be niTeotcd after July 1 of this year. In brief, the order makes the following provisions: Payment of pensions aulhorizrd to veterans disabled by disease or injury Incurred or aggravated in line of duly in active service Hates to be paid for service connected connect-ed d:snbi!i!:es are: 10 per cent disabled. dis-abled. $S a month; 25 per rent, J20; Mt per cent. 5 4 0. 7,1, per cenl. $'10; 100 per rent, $(o. These are 20 per cent reductions reduc-tions under pre.-nt aids Tensions au!hori7ed to widows, children, chil-dren, and dependent p.irenls ol veterans vet-erans who d.f r) from disease fir lnjnr.es incurred or aggravated in line of duty In aclive service liales continue as at present. 1 'a y men t s authorized fur non-service connected disabilities and deaths rf veterans who served 90 days In the f-pa n : s h-A mertca n war. lioxer rebellion. I'h il . 1'pl nf i nsu rrect ion. and World war. provided disability was lolal and not due 1o personal misconduct. i.attir allowance will not be made to nn ma rr w d persona with Income of more thnn II. (mO a vo.nr or to any mar-r.ed mar-r.ed person or one with minor children whose Income exceeds $2,1.00 l'eii-,ons of widows and children of Fp an ish -American war velerana cut 60 'iT fill iiviliiiles peace-lime veterans from d'ini M 1 1 in ry fare. l.ln.ils r-hnrply emergency ofTo era' pf ns ion s. I)i t i ll the senate mid house are con-) con-) Mil'-ring a loll, of which Senator I'.ia'i; of Alabama Is (he author, that v i).l .--1 .i 1 .1 i li n thirty hour work week. As Ho' hill Is presumed to have tin- endorse lit of the President mid tho )". ial iipproMil of Secretary of J.nl.or. Miss Perkins, It la exported to bolli h'lllsi'H, Tl " hill would compel private In dustry to adopt the thirty-hour week and penalize interstate movement of products made by labor working longer long-er hours. Black expressed confideuce the bill would be upheld by the United States Supreme court. The Alabama senator said the bill would not accomplish its purpose if it resulted in reduction of wage levels as well as hours and expressed the belief that, if industry attempted to reduce wages, congress would act. "Labor "La-bor has been underpaid and capital overpaid," he said. Borah said he was "in thorough accord ac-cord with the principle of this bill and I'm not so sure that we're not going to have to come to it," His argument revolved around whether congress had the power to take action. ' I M1E country's great loss in the dc-struotion dc-struotion of the Akron is not the loss of the navy's great dirigible, but of the 74 officers and men who went down with her In the - -"jw-; storm oiT the coast of " v- New Jersey. Hear Ad- . -miral Mofl'ett, chief of the aeronautic bureau 1 of the navy, who wis v vl a passenger on board. w ; with his shipmates up ,' i held to the end the i i finest traditions of the w. .' navy. - The wreck of the jt' Li3 Akron, largest of its . . . . . , , Admiral kind in the world, was ,. ., Moffett the worst airship disaster dis-aster in history. The airship crashed off the New Jersey coast, twenty miles off Barnegat lightship, during a violent vio-lent electric storm, accompanied by heavy winds and high seas, dense fog and thick rain. Lieutenant Commander Wiley, second sec-ond In command of the airship, and the two men who were saved owed their lives to the chance that brought the German oil tanker Phoebus close to the scene of the accident a few minutes min-utes after It happened. They were picked up immediately by the Phoebus, whose crew saw others disappear beneath be-neath the waves before rescuers could reach them. The Phoebus cruised about the scene until dawn, but was unable to find any more survivors or to keep track of the wreckage, which was carried swiftly away by the seas. First report of the disaster was received re-ceived in radio messages from the Phoebus. Both coast guard and naval vessels were Immediately dispatched to the scene of the w reck and cruised around for hours in the hope of finding find-ing other survivors. The navy blimp J -3, taking part in the search, fell Into the sea. Five of its crew were rescued. The search was fruitless, and, in the case of the accident to the blimp J -3, was ill fated also. DETERMINATION to end naval airship air-ship construction Is mounting through a congress Intent upon finding find-ing the real causes of the Akron's ... ., plunge Into the At- la II tic. f" ,3 In the senate King I J (I 'em., Utah), pre- r ) , , . . :: Pared a resolution j? ; calling for an inves- jfr.n''- ligation of the Akron .r iii-n. disaster ami the eon- "v . " . sideration of the ad- I vlsability of spending more than the .S.'O,- Ji'i COO.OHI that the navy r . already has Invested Fred Britten , In 1 I g h t e r-than air craft. Chairman Trammel of the senate sen-ate naval committee also was considering consid-ering a study of the accident. Chairman Vinson of the house naval committee has declared emphatically "there won't be any more airships built." There were some, howevor, not so ready to yield beliefs founded during many years In congress. Many had followed BopresentalUe Britten of Illinois, who as Populilican chairman of the naval committee for years had charge of most of the recent legislation legisla-tion for airships, particularly that mi ! Ihnrizing the .k h i.iV o Akmn-Miioon sistor ship tram. Mr. Britten has al-was al-was declined to support those who thought lighter than air craft should he abandoned. Mnny members were nndei ided how far they wanted to go In their ban on airships. Vinson said he though! nothing should he done (o proven! operation op-eration of the Macon, which Is to lake (he nlr toward the end of the month. Nor did he think I Ji.'it Hie new dirigible base at Snnnwille. Calif., where $ l.uii.d, had been expended, should be shut down. M It'll It; AN Is the first slate to vole In favor of !he repeal of the l'.lghteenth amendment. Wisconsin Is second with a decisive vote of 4 lo 1 for repeal. Town and country alike turned out thumping wet majorities. M i I w II 111, ee, where the breweries nro humming to t urn on! 3.2 beer, went we! by more Ihnn 1') to 1. Wisconsin's constitutional amendment conxoiition will be held In Madison, April LT. It Is predicted thai practically nil the delegates will be committed to repeal. In Michigan, but one county elected flrv delegale. Jr. MORfi.VN t CO., New York I bankers, are in for an Investigation Investiga-tion by a committee of the United States senate, and a committee backed hy all the authority which that august body can give. Without debate, the upper chamber adopted the Fletcher resolution extending ex-tending wide power to the hanking committee to make the inquiry into private banking which President Boosevelt has sponsored. The resolution was drafted by Ferdinand Fer-dinand I'eeora, committee counsel, with a view to obtaining all the senate's sen-ate's constitulional power over interstate inter-state commerce, banking and tax matters mat-ters for the committee. Tecora told the committee be had submitted twenty-three questions lo the .Morgan firm and that on advice of John W. Davis, Its counsel, the banking bank-ing house had refused to answer one and taken several others under consideration. con-sideration. DESPITE the Hitler government's dropping of the boycott against German Jewry, the National Socialist party will keep its boycott machine intact. Disappointed at being deprived de-prived of the boycott, Nazi auxiliary police raided a Jewish quarter in Berlin. Ber-lin. Accompanied by regular police, they searched everywhere for weapons and papers. Streets were closed and pedestrians were stopped. Even worshippers wor-shippers leaving synagogues were halted. Persons not carrying double identification cards were arrested. The Nazi boycott committee headquarters head-quarters at Munich announced that "all German stores in the near future will be supplied w iih big ' placards identifying them as such." In this way the Nazis will distinguish between German and Jewish stores. A measure forbidding kosher slaughtering slaugh-tering throughout the nation has been approved by the reich's cabinet. ANEW suggestion for a preliminary prelimi-nary conference of experts to be held in the United States to prepare for the world economic conference developed de-veloped at a meeting i-..u.. i,al in Taris between Nor j man II. Davis. Presi- s- s ! dent Roosevelt's am- i bassador -.it-large, and . Joseph Paul-Bom our v ev French foreign mints- ?,. i ter. In this Hie French i see their opportunity s lfl t of talking over war i: s Like the British, the l. akj French want to wan- , ... , . Norman gle a debt settlement f , .. Davit before the economic conference convenes. So fervid is thil tlesire that Davis expressed his displeasure dis-pleasure that Europe, with Its very existence ex-istence at stake, should think of nothing noth-ing else. Mr. Davis feels that the Washington administration has made it clear that there are bigger Jobs to be done removal re-moval of trade barriers, for example. So with hopes of calling the economic eco-nomic conference at an early date abandoned, the idea of a preliminary meeting to agree on what Is to be done and how to go about it is making headw ay. When the new French ambassador to the United States, Andre I.efevra de la Boulave. saiied for America he was accompanied hy a treasury export to prepare the ground for what Paris hopes will be a general debts discussion. discus-sion. l'.esponsihle officials of the Stale department de-partment In Washington declared that reports from London that Mr. Davis had presented nn offer to scale down Britain's debt to the United States by St :'.ej, i m w ere absolutely without foundat ion. Premier Bamsay MaeDonald plana to sail for the United Slates about April lo for a conference wllh President Pres-ident Boosevelt regarding war debts, w orh! economics and armament. MOUNT EYEKI'ST at last has been conquered. Two airplanes have lliiivn across the summit and for the firs! lime In history men looked ilown uiHin the hlghesl mountain In the world. The feat was accomplished by the British expedition headed by the marquis of Clydesdale. A photographer pho-tographer succeeded in taking a number num-ber of pictures which. It Is hoped, will provide nn authentic record of the conquest con-quest of the 'JO.ikvj foot mountain, on I he sides of w hich numerous men have perished attempting hy old fashioned methods to gain the honor of being the first to reach the top. Although ohau-1ne preparations had been made for the flight over Mount I'.veresl, the actual carrying on! of the fea! was In n measure accidental. acci-dental. When the two ships went up the purpose of the tljers was only lo make a test. But they found conditions condi-tions so ideal thai they lur.ied Hie lost Into the real business, 'liio two planes Hew- nl an aliunde of approximately approxi-mately 0.0 miles and Hie High! over the peak required three and a half hours. f FASCISM Is growing In Great Britain. Brit-ain. Y. cry manifestation of the Fascist iiiovenienl In Italy nnd Germany Ger-many can be seen In and around the house where Sir Oswald Mosley. millionaire mil-lionaire would he dictator, has based the British Union of Fascists. The waiting room Is n small gymnasium. Physical training Is compulsory. The Mosley blink sbiris, who are Ihe beginnings be-ginnings of Hie British storm troops are required to hov, fence or wrestle twice weekly. The black shirts form (he nucleus of Moslem's "army." They hae nn auxiliary In the gray shirts, who can not gio as much time to physical training ns the hlel shirts but who bare a big place In Ihe strong arm branch of (ho orranizntlon. C Vs'.l.l, Wclr,n NrwppBper t'nlon. |