Show 4 news review of current cur belll 0 events the world over treasury issues long terni bonds because of bi big deficit tea teagus uc retires from federal farm board by EDWARD V W PICKARD T THOUGH HOUGH t the 11 0 jb A united states Is popularly sup posed to be tile richest nation on earth tho tile oarn ment Is up 9 against dinst it the it if incan mean ing a billion dollar deflect elt nith the prospect of adoth er billion ilc adt 4 during the in ml st ils cal year the trea andrew ur therefore Is 11 mellon about to issue long term bonds tor for bearing 3 per cent it terest this Is in lieu of an in creise in taxes which litch ably m will III not be asked until after net ears presidential election II 11 at all the reason for tills this course is obvious it Is expected that there will be further bond missius as well as bor on short mae certificates ot of indebtedness the public debt which had been steadily dily reduced since I 1 1023 now noa b begins e glos to upward again this hond bond issue announced by secretary of the tile treasury andrew mellon Is the largest peace pence time of fering of ions long term goern government ment ob in the history with the exception of the 1000 bond issue of 1924 which was nos put out to refinance orld arr indebtedness the interest rate of 34 per cent on this issue apt lpt 1 the lowest of any loag lorig term govern merit ment linan financing cing since 17 ry Thras thursday day bight the lien bond issue had hittl I 1 leen een oversubscribed subscribed nearly ellit times and Sec mellon atas ible to report to the Pre sIlent that the plan of handling the deficit ly by adding to the na tin dional debt instein of Inc increasing taxes toles va successful the binds will mill be dated end will bear interest from tune 15 1911 anil anti aill W nature on june jime 15 1949 being redeemable at the option of the treasury tren sury on and after june 15 they I 1 hey will nill be issued in both bearer and registered ered form forin in de of 10 SIM 00 1 5 and in addition there nil ft be registered bonds in the denomination the federal reserve banks will III be the agencies for the flot atlon of the issue but all banks will mill receive subscriptions froni from investors the bonds will be exempt from federal feder jl state and local taxes ex copt inheritance taxes and sur taxes G huge flying bont boat VJ DO X after long delays and various accidents finally crossed the atlantic ocean successfully it roads mad the tile flight from cape verde islands to i ternando ernando noronha off the coast of brazil in 12 hours and 15 minutes defying superstition 13 persons were aboard the tile DOX it nos ft as announced by the state department in 1 ashington that col cot one and mrs lindbergh Und bergh will start before long iong on a pleasure tour of the orient in tl it air lockheed plane flying to japan and china la in the horth north pacific and russia they probably will nill follow the route tak en by the army ayers in 1924 going to siberia by way of the aleu tian han islands p C C TEAGUE one of the or members of the federal farm board and its vice chairman has resigned it having a v I 1 n g served one more year than he at first intended in his letter to dent hoover homer ten tp dering his tion mr teague declared the board C cleague CT eague had fully ju justified stilled itself and its cost to the taxpayers ile said that without its and revolving fund many farmers operatic opera es would have gone under and le L warmly defended the emergency operations of the board in lz ing wheat and cotton there are two distinct methods of liying laing markets he pointed out I 1 probably the one that has been emphasized most in publicity has been the stabilization opera eions on buheit a heit he it and cotton chich were entirely emergency operations under undertaken talen to meet emergency con dillons ind and chich I 1 believe are en firely juc tItled and which will have resulted in benefits to agriculture and business generally far out wishing any cost to the treasur bever Ilo I neiter ever in my judgment the greatest benefit will come through another type of stabilization atlon of markets which will cone come the long time project of de developing eloping a system of operative cooperative co control of agricultural products which will effect a better control of production and a better control of distri and thus have an important influence in the stabilization of garlets mur mar bets lets REP on the general agri cultural the bureau cf ef agricultural economics of the department part ment of agriculture shows that american farmers are selling their produce at less than prewar prices but are pacing about one third more than before the war for the things they buy the bureau esti estl mates that now receive 8 per cent of prewar prices and pa ISO per cent for goods bought ifft h in other respects the tile outlook ie Is not bad 1 I arm crops ays says tit alie e report are recovering from the cf ef feels of the lie continued cool math cath cr er binter inter wheat prospect lave lay e been Imp improved bruit troll prospects ere cre generally reported fair to good the I 1 he stock growers appear to be keeping up herds and flocks despite som somewhat adverse conditions in feed prospects in several elections VIRGIN I 1 R a I 1 N I 1 IS S lands now have liae only one goer governor nor and that Is dr paul pearson for herbert D brown bromn clifta of the federal 0 bureau of cy has had R spat pat 14 with the doctor d retired from h 01 the co goi governorship M ilitch he has exer is cased toe for early nearly H D brown ano 0 o years in 1029 congressional committees asked mr brown brona to investigate tl ate the islands with a view to reducing administration costa cost R lie ile male mole three long visits there and his were nere displeasing to copt waldo evans then naval goer governor nor also he obtained to be er expended un on der his ills cole bole direction lost winter lie recommended transfer of the islands to the interior depart ment and when hen this was done ho he returned to help the new governor doctor dotor pearson whom hom he lie had selected fur for the job it Is s ild in ton that brown broa n having quarreled ath with pearson Ien has urged the removal of the lie inter later but that it Is unlikely the president will take tale any such action lite I 1 lie exact cause of the friction between the two to men Is not publicly known O 0 I 1 of about halt half the VJ states took part in the anguil conferences at I 1 rench reach I 1 ick ind end cad several of them disrupted the grogram a of harmI harmess topics by injecting their own onn Nig vigorous orous opinions opinion 1 S into their addresses pinchot 0 of f pennsylvania for instance insisted en n making a hot attack on the pub lie ile utility corporations einstad of talking about timber and in the closing session ritchie of maryland criticising criticizing critic ising the conference for trying to avoid mold controversial subjects subject i urged the return of liquor control to the states as a solution of taxa iola tion problems T V N 11 ESSEE S political finan caal troubles were approaching a ell cil max during the week weel with nith the state legislature prep tring to vote on the question of impeaching 7 t the h e goi governor arnor 11 henry e n r y IL horton the in nashville A i tile n was as tense though the foes of gov goy hotton horton hot ton the executive were apparently in the mijo minority rity ilor ton seemed undaunted most of the elpha articles of im peach ment ie leport ported cd to the legislature ty it committee relate to a n main charge of conspiracy alleging latts between beti veen the governor and col cot I 1 luke uke lea and rogers cald cold well two bankers who mho are now under indictment as a result of the final fallu failure rep of last november nov No ember congre nan rian fd id crump the memphis political boss was conducting the fight against the go governor emor though he kept himself in the background the resignation of r scott fitzhugh one of the crump faction from the speaker ship anil and the election of senator A B broadbent Broad beat of cl to fill his place took much of the thunder away amay from the defense for senator broadbent Is an independent an anti and 1 he will be the next governor if clr norton horton Is forced out FOUR OUR eastern and western air lines whose planes fly about in rallies 11 annually have consolidated consul ld itce their management operation era tion traffic and sales line u now become divisions of the united air lines with mth general offices in chi cago the lines involved in this big merger are the national air operating from new york to chicago and chicago to dallas the tile boeing booing air transport operating opi rating from chicago to sin gin francisco the pacific air transport operating from froin seattle to san diego and the varney air lines operating from salt sall lake city to seattle and the pacific North northwest nest P C jenwon president of the boeing nm cin who ho was recent ly made president pres dent of lie the national air transport and the varney air lines is to be president of the new co company C thadian tax payers are hard hit bit by the first budget pro pre to parliament by premier it R B bennett he ile ano a deficit of SO and said rew pow taxes would mould be required to meet IL consequently he lie proposed tin ports as follows follos increase in the sales tax from 1 per cent to 4 per cent reintroduction of 3 tent pos tage increase of the income tax un tin corporations and stock corn parties from 8 to 10 per cent and i new special excess tax of I 1 pei pet nt tit on oil all imports manufacturer of ho tile united state stated camo cattle off more easily atiq had been expected only about J item items in the tile tariff against thin th in were ere altered by tile premier cus toma tools butlen were raised on oil untera cite coal furniture oranges and ire to higher priced automobiles thare nos bad nes holever fur for Amerle americana avs who lie have investments in canadian companies for mr air bennett ordained that beg lonin next july on an income tax of 2 pe per r cent must bo be paid by all forem Ini investors estors receiving from froin canadian concerns conCer nL the tile only bright spot in Cann canada das financial picture mr sir bennett stated was nos the fact thai that the domin lors fors com erslon loan of mow igind been subscribed up tn to gla lie it emphasized that during ills regime no fewer feer ilion 76 75 lean had established I 1 plants in canada and made it clear he lie nos sticking close to hia his canada I 1 iret I 1 attitude ills con elusion brought a great ovation from his ills fol followers loners G Is brent great c expecting benefits to result from the remarkable meeting at Cheque rB I 1 angland of chancellor bruening pull foreign minister julius curtius with prime 1110 minister ster ramsay macdon uld old and I 1 All minister nister A arthur r t h u r chancellor henderson nender eon the bruening german statesmen went ment there thursday on imitation from the englishmen and the four men discussed thoroughly the bearing of reparations on the is world orld economic crisis it was nas the hope of the germans that this conference would mould ond a way noy out of the present financial u wilderness the meeting aroused the french and led them to reaf firm their contention that german reparations and the allied debts to america were ere inseparably connected by the young plan As it is put by A L teune in to I 1 e midi of paris on the of international debts where we held the front line so long until the loung plan brought brou glit us back to the resene trenches tren dies it would mould be a wat great tin prudence to agte them up 1 T 14 A decision that seems to give assurance that the press pre sa of america Is end rod shall continue to be free the supreme court of tha unite I 1 states held 11 tho the MInni ota sota statute authorizing the suppress suppression lon of newspapers and other periodicals publishing matter which the authorities deem to ie be mitori of public or other persons or institution in the opinion of lle me members of the court chief justice hughes and associate justices holmes bran dele dels stone and roberts the minnesota tin law in so far as it author I les ies es such suppression Is an in gement of the liberty of the press guiran guaranteed teed by the fourteenth amendment the of lie the court took the position llon that the freedom of the press to criticize public officials Is one of the bul bill narks of our institutions hit thit for tiny abue of this freedom there Is 18 the tile remedy renedy of punishment under libel and other los lav and that the tile suppression of period fils of the character of the tile m nutter itter pub lashed would mould amount to the setting up of a censorship of the press Asse clate justice pierce butler better hims if a minnesotan reid re id a dis denting opinion concurred in by JL jesties sties I 1 van an Venn decanter ter mcreynold and asserting it th tile tie opinion glies to fr loin ef ct f the press a broider in than any hat that had eer eier before been recognized THE LIE general assembly of tie tte presbyterian church in s slon at tit pittsburgh rebuked the iberal I council of churches of chim chilt in america for report of its can nit alit tee approving of birth control on annl adapted a motion instructing thi tha council to hot hold its peace on all questions reli reciting ting to morill ty and delicacy until they hae been dis cussed with its constituents roween premier between mussolini and the vatican were strained almost to v I UW W ak W 1 and wd oat outwardly it appeared there could be no pe peaceful ice settlement of the quarrel cut but efforts at concilia concilla tion were being carried on by foreign minis allots dino grand grandl ter dino grand on the one hand and cardinal gasp ir rl ri on the oilier other the trouble cen in the catholic action clubs mussolini decreed the dIs bindIng of 0 all bouth connected nith catholic action because of al at lebed political propaganda and closed tie clubs and playgrounds the pope protested against this both as heid of the vatican city and find as head of the church he ile nude made elfe ahe his by withdraw ing his ills perr il it re presen tattle from the padua celebrations canceling the dlo diocesan cesan eucha cong congress ress in rome prohibiting hurch processions and placing the catholic action societies under charge of the mussolini gaie out a statement saying there was nos nothing temporary about his acts sets and that the clubs club t per manent ly closed wednesday the directory of the fascist party ordered the tile le lenders iders if of all groups to be ready to defend fascism against its foes under whatever hat that ever banner and charged that seme sec sections tints of the Qi ithol catlon hiety hid been openly ind surreptitiously ho hostile 19 ras ism IM 11 alstern newspaper Newt paper WOO I 1 |