Show news review of current events the world over business men alen bankers and others assail presidents monetary policy russia recognized envoys named welles to leave cuba soon by EDWARD W PICKARD aed AMERICAN business as represented by the chamber of commerce of the united states Is now out in open opposition to Pr president Ident roose belts monetary policy the board of directors of that nationwide organization which Is headed by bi henry 1 I narriman of roston adopted ares alution declaring that the presidents course was gravely retarding business recovery and re employment under mining m 1 n 1 n g the governments president cent credit preventing roosevelt the expansion of normal credit and prolonging the demoralization of foreign trade in other words doing just the opposite of what mr roosevelt hopes it will do the directors demanded of the administration a complete avoidance of monetary experimentation a and n d flat fiat money until this time the chamber has been supporting the president and mr narriman harriman has been active in promoting the alms of the administration lie ile attend edthe meeting of the board as did P IV litchfield president of the goodyear tire and rubber company redfield proctor president of the vermont marble company paul shoup vice president of the southern pacific rall railroad road chester 1 I barnard president of the new jersey hell bell telephone company and nearly all the rest of the 52 directors besides attacking the presidents monetary policy the hoard board adopted three other resolutions of similar tenor one protested against the expenditure pend iture of large sums by the public works administration for financing projects in IA competition with private business enterprises which are now rendering adequate service at reasonable cost another protested against the public works administrations plan to engage in the building of federal housing P projects ts and insisted that such financing should be through private housing corporations in a resolution on the the chamber urged that industrial codes should bould be administered through the trade associations of each industry AS S HAD been expected prof 0 at IV sprague special adviser to the treasury resigned and in doing so he be told the president once his pupil at II 11 harvard a r v a r d that the roosevelt dollar depreciation pre clation policy not only will fall to ralso raise prices substantially in the absence of trade recovery but will ruin the credit of the government and precipitate an inflation panic 1 I bellee believe sprague said in his letter you are faced with the alternative prof 0 M W ter native e either I 1 t h e r of 0 sprague giving up the present policy or of the meeting of government expenditures with additional anoney money having finally lost all hope that th thi president might be persuaded to change chang eAds his course before it is too late professor sprague said he was resigning to take the field against the roosevelt policy bellel believing ng that the last chance of avert lr a currency inflation debacle lies in arousing public opinion another of the presidents financial advisers though unofficial james P Wa iburg new york banker joins with sprague in protest against the present monetary policies like the professor he vili vi undertake to arouse public opinion against them this he announced at a meeting of 0 the american academy of political science in philadelphia adelphia la at the same meeting prof irving fisher yale economist said the presidents monetary policy was substantially stant lally ly right and senator thomas of 0 oklahoma asserted that lie he was opposed to inflation which will cause general surprise members of the advisory council of 0 the federal reserve board composed of prominent bankers in each cadi federal reserve district met in washington and adopted a resolution favoring the re establishment of the currency on a gold basis together with safeguards to be agreed upon by international action the resolution was circulates circulate il pr hately among all the member banks in the federal rescue sere re system ACTING CITING secretary of the treasury replied to criticism by saying that the credit of the united states la Is as good as the kock of gibraltar ral tar but at the same time he let it be known that in order to holster bolster up the prices of government securities which have been dropping the treasury department itself would buy federal bonds with some of its surplus funds RESIDENT ROOSEVEL TS answer ato PRESIDENT to these protests against his pot pol leles as obtained by washington ceals who communicated with him at warm springs was to direct tit thit it the program rain of depreciating the dollar for the purpose of raising commodity prices be continued the notion action of the chamber was coincident with the delivery of an address by mr roosevelt at savannah ga in which he denounced the critics of his recovery program as borle and doubting and warmly defended the experiments he Is making ue he promised that the principles and objectives of american self gov will remain the same washington correspondents said that hat nn an ambitious second stage reconstruction st program was being formulated there here for the president in his big absence important features of this plan are sound money on a devalued gold standard a balanced budget to come from proceeds of a devaluation liquor monopoly and other painless revenues a revived foreign trade on parity currency and real progress in resumption of foreign debt collections seizing upon the appellation used by the president critics of his c ourse course have organized the association of american tortes anil and it is gathering many members the originators of the association decided they should have a king for their president so they selected for that post rufus aln king a well known author S SECRETARY of the interior lekes as public works administrator announced that he had turned over to the new federal housing corporation that Is undertaking slum clearance work in cities throughout the country the undertaking he said would be started in detroit with a model housing project R D of diplomatic rela av alons with russia and the recognition of the soviet government came as was expected on the eve of the presidents departure for warm springs lie ile anti and commissar litvinov issued a joint announcement of the v eri happy ending of their it negotiations and mr roosevelt immediately designated william C bullat as american ambassador to moscow which greatly pleased the russians A A tro troyan an within a day or so dovsky sky the soviet government announced that its ambassador to washington would be alexander antonovich to formerly diplomatic representative at tokyo and now vice chairman of the russian state planning commission this gentleman was born in russia in studied tit in the university of kiev was exiled to siberia in 1909 1009 escaped and lived in france until 1917 and served in the russian revolutionary army with recognition by our government russia agrees not to allow its agents to propagandize against the government of the united states guarantees religious freedom and legal protection for american nationals in russia and waives all claims against the united states growing out of the american expedition into siberia in 1918 21 no promise whatever bat ever was made by mr Lit litvinow concerning the attitude of his government toward the payment of ST in debts owed by russia to the united states government and to private american citizens his big conference with F t ambassador welles in warm springs president Roo roosevelt issued a formal statement concerns concer concerning nl the cuban situation which was wag af pf cyka designed to let president grau gran know that the united states Is not ready to recognize his government and will not do 10 so 80 unless lie he can persuade the island factions to aku N I 1 cease their warring i sf F and agree among s the statement reiterated sumner welles welle the adminis trat rations ions policy of recognizing any government ern ment regardless of its partisan or factional color which proved itself represent representative athe of its people and able to secure their support but it was made clear that the present cuban government assailed assal led as it has been by one revolutionary attempt after an other did not at present meet these conditions mr roosevelt Koo sevelt supplemented his statement by the announcement that though I ambassador welles alles would return to his post in havana after visit ing washington lie he would soon be replaced by Jef jefferson fergon caffery and would resume his big former position as assistant secretary of state for latin american affairs this Is in full accord with sir mr welles desires though lie has been unwilling to retire from havana under tinder the heavy beavy fire directed against him by the supporters of the orau grau government the latter had been organizing gan izing a great protest demonstration designed to keep keeli the ambassador from landing at the havana dorks docks and serious trouble was feared air hoode it volts announcement it w was as hoped would ease this tense situation P PREMIER ALBERT government was upset by the french chamber of deputies by a vote of to due to its insistence on retention t of the gold standard and balancing I 1 ng the budget its defeat was really brought about by the tha determination of the unions of civil servants not to submit to any financial sacrifices in the interests of the state there was it a belief in paris that edouard Iler riot might again be called on to form a new ministry SECRETARY OF STATE HULL who seem to cut much of a figure in the administration Is to have a new assistant president prisident roosevelt appointed to this post francis 0 sayre son in law of the late president wilson and lie will succeed harry F payer who has been transferred to the position of special foreign trade adviser to the sir mr sayre Is a professor L in the harvard law F B sayre art school and will re move from cambridge to washington as soon as arrante arrangements ments can be made with the university As adviser on foreign affairs to the government of slam siam sir mr sayre has had wile wide experience in the negotiation of political and commercial treaties since 1925 1025 he has negotiated treaties between the siamese govern ment and the governments of france great britain the netherlands spain portugal denmark sweden norway and italy lie ho holds decorations from all of th the principal nations of europe L T COMMANDER SET TLE of the navy and major fordney of the marines finally found a day of favorable atmospheric con dillons and made their long delayed flight into the stratosphere thelt theft big balloon ascended from akron ohio and reached an altitude of feet this beat the existing record by about feet though Rus sias stratosphere explorers claimed to have rig en above feet settles balloon and aluminum ball came down in a southern new jersey swamp and the two daring explorers explore esplor ert re extricated them safely and were taken hy by airplane to washington where they were received by the secretary of the navy and other officials newfoundland Is about N in its status hiatus as a british dominion and be demoted to that of a crown col ony this course has been becom mended by a royal commission that has been investigating the dominions tangled financial affairs the report of this body charges that newfound i lands debt which has reached the point where the interest consumes 50 per cent of the states income it is largely due to reckless waste and extravagance trava gance and to the absence of con tive and efficient administration newfoundland was the first of great britaina Brit ains overseas colonies labrador Is included in its government governments govern menti and ono of the suggested solutions for the islands difficulties has been to sell labrador to canada paying the public debt with the proceeds all over the world S seismographs showed the other day what scientists declared was the greatest earth quake ever recorded but fortu fortunately fortuna natel teli it occurred way up toward the north pole between greenland and baffin island where there was nothing to destroy except land formation and no lives to be taken ERNEST W GIBSON who formerly ili was a congressman from vermont will go back to washington to represent that state in the senate lie he was appointed by governor wilson to fill the vacancy caused by the death of senator porter H dale INS IS farm strike fizzled wout out so it was called oft off by the heads of the farm holiday association and the milk pool the pickets were all NIth withdrawn drawn and shipments of milk and other farm produce to the markets were resumed the milk pool leader said another holiday probably would be ordered in february UINA seems to be headed for another C civil war of major proportions the famous nineteenth route army which defended shanghai against the japanese early last year has revolted against the government and issued a declaration of independence of fullen province it Is rumored the army has reached an understanding der with the communists in province the fact t that a Fu u klens en a c chief e po political ca principle Is continued opposition to japan his caused apprehension that it Is likely to provoke japanese intervention ven tion the province conta contains is extensive japanese interests Inter erts and la Is regarded as a japanese sphere due to its location opposite the japanese island colony on formosa N DECEMBERS brit 5 the fascist grand 0 ON council will be convoked to discuss the question of italis membership in the league of nations and informed opinion in III rome if 13 that italy will voth withdraw draw from the league unless france consents to the holding of a 9 disarmament conference in rome under the four power pact that haq engineered gine gIn ered by mussolini so fill fair the french have refused to participate in any buch conference outside or of geneva and the fil or of league irbite italian ill 11 rendy ready hae bae hintel hinted it at the lii ri pi P i I 1 b I 1 10 of file v nf i 0 cheni IR I 1 HIP arpi I 1 ilu B Q A lia W 3 s ill 1111 tr 1 |