| Show news review of current events the world 0 over ver united states goes off the gold standard and moves toward inflation secretary perkins asks federal control of industry by EDWARD W PICKARD ARID off the gold stand ard was the terse but momentous announcement by secretary 0 of the treasury woodin as he returned to his office 41 from a conference z 1 with president r ik 4 roosevelt and at t the same game time the I 1 1 N white house gave 1 I 1 b out the news that 1 I the chief executive 4 1 7 had placed an embargo I 1 on the further I 1 export of gold k permitting the dol trent lar to depreciate in ID pres e roo ro roosevelt alt el foreign sa exchange change and was ready y to ask congress for authority to put into action his policy of controlled inflation mr roosevelt himself calls th this policy a program m for control of commodity price levels and says it la Is designed to raise prices alces but to keep them from going too far up he gave assurance that there would be no resort to printing press money senators thomas byrnes and pittman drafted the measure to carry out the presidents plan and it was promptly introduced in the senate as an amendment to the pending farm relief bill it provides 1 per for expansion of 0 credit up to through purchase of government obligations by the federal reserve banks this means the purchase in the open market of government bonds and was tried in the hocier administration 2 As RD an alternative tor for the inflation of the currency by issuance of greenbacks green backs up to 0 0 under the act ot of 1862 such euch currency to be legal tender for or all debts public and private 3 for use of such greenbacks green backs to meet maturing government obligations and to purchase government obligations 4 for retirement ot of sue such h green backs at the rate of 4 pe per r cent a year 6 for reduction of the gold content of the dollar not more than 60 50 per cent for the purpose 0 of protecting american foreign trade from the effects of depreciated foreign currencies and to enable the president to negotiate an international agreement stabilizing monetary standards 6 for acceptance ot of war debt payments up to an aggregate of 0 in silver at a value of not mor me re ethan than BO 50 cents an ounce ifor 7 for of 0 such silver and deposit in the treasury for redemption of silver certificates issued against it such certin certificates cates to be used tor for paying obligations of 0 the united states secretary woodin drew up the order concerning gold exportation under it no gold Is allowed to leave the country except that earmarked for foreign account before april 15 and such amounts as are required to save american business men from loss on consignments consign ments in foreign trade incurred prior to the proclamation of the new policy the united states thus has placed itself on the same footing as great britain and many other foreign nations its money Is unstable in value in international trade it was pointed out that mr roosevelt could now with greater propriety propose that all nations go back to the gold standard together effects of our plunge into the inflation pool were immediate prices on the stock exchanges and especially in the commodity markets went up with a rush and trading was heavier than to fo many months millions of dollars ere added to the farm value of ail grains and cotton and sugar also moved upward as did provisions on the london and paris exchanges the dollar san sant k decidedly neither elther IC the british nor the french were ere pleased with the presidents action the london daily telegraph said following americas latest action a demand will arise in every country tor for fresh depreciation so that exporters may not loset beir power of competition in world markets the new task of the statesmen Is to pr eventa chaotic process of competitive depreciation of currencies ren cies POLICIES of the roosevelt ad ministration tire are being expanded and extended so fast and so far chat congress and the country are 1 keep scarcely arcely Bc beep up with able the to 2 z R 7 t v pace set one of the broadest and most revolutionary iel A 1 aw 11 ot of its apropo proposals als was ll 11 I 1 submitted to the L 11 X 1 ta 1 house committee on k e labor by secretary of labor frances I 1 perkins in the form of a draft bill offered L 1 l as a secretary s1 sa tute for senator perkins blacks 30 ho hour u r week measure which was passed by the senate and for the almost iden idea connery house bill it Is designed to give tho the federal government full control not only over the hours of labor but also over industrial pr production and prices the passage of this legislation and of the pending farm marketing bill would make secretaries perkins and wallace virtual dictators over ove the economic life of the nation the legal basis of the labor bill Is to be found in the interstate commerce clause of the constitution and in the unfair competition sections of the federal trade net it Is upon these legal powers that the secretary of labor Is to depend to exercise the following authority 1 to prohibit from interstate commerce articles produced by any industry working its labor more than 30 hours a week or more mora than six hours in any one day milk and cream are exempted executives and managers are exempted and certain exemptions are made in the e cases ases of seasonal or other emergencies c les boards are set up to regulate such exemptions 2 to limit and it 1 necessary pr prohibit 0 from interstate commerce the production of any plant or industrial group which la is overproducing over producing 3 to investigate wages through a wage board to fix and impose minimum fair wages to publish the names of employers tailing failing to raise wages in accordance with a direct order to do so and to prohibit from interstate commerce goods produced by any employer refusing to comply with a wage order rare IGHT now the eyes of the world are turned on washington tor for the series of talks between president roosevelt and representatives of onny many other nations have begun and if the hopes of the chief executive are realized they will result in the finding of a way out of the world depression prime minister J ramsay maedonald macdonald was the first of the visitors to arrive and the first to confer with mr roosevelt and secretary of state hull edouard herriot ner riot former premier of f france was close on macdonaldd Mac Donalds heels and the others are scheduled to follow rapidly no one of the conversa tiona lists Is empowered to really decide anything but all of them are free to express the views of their respective governments on economic matters it was understood that macdonald would not talk much about the war debts but herriot was authorized to state frances position on that subject the whole series of conversations in washington Is a preliminary to the coming world economic conference and ahe the tope of president roosevelt and secretary hull Is that the way can be paved for rehabilitation of the world by the lowering of trade barriers and monetary stabilization chave republican postmasters who have demonstrated their efficiency are to be permitted to complete their terms so announces postmaster general james A parley farley to F I the joy of several 1 thousand G 0 P I 1 1 office holders and I 1 t the h e corresponding M P dismay of a great II I 1 ar army my of democrats I 1 A I 1 who would like th the e s 1 jobs mr farley I 1 ff M says his party has it long stood for the 1 11 I 1 d civil service system of competitive ex J A farley aley laminations amI nations and will not abandon that high ground so he gives out this message mek sage no incumbent whose term has not yet expired and who has been rendering loyal and effective service to the government need have the slightest fear of removal it will be the policy of the post office department to allow every efficient post master to fill out his term district attorneys marshals and collectors are not under civil service and in time these places probably will be filled llred alth alth deserving democrats also there are bu hundreds n of vacancies in the herships ter hipa ships to be filled immediately and these will be filled as soon as mr farleys carleys Far leys department has completed a study of examination methods the postmaster general makes the welcome assertion that the united states post office Is going to pay its way hereafter ile he alms aims to save in the coining fiscal year and this he believes will suffice to balance his budget i JAPANS armies in china contin aed their advance south of the great wall driving before them dis organized or traitorous chinese troops the japanese at latest reports had occupied the entire triangle between the wall and the alwan river with its base on the gulf of and were ere moving onward toward they crossed the river near and bombarded that city anil and the surrounding region there was great alarm in where some americans mostly business men and their families reside when tile the Ji japanese started their push into the hie undisputed chinese territory south of tile the great wall the alwan river was axt st as tile the limit cut but the japanese command now has announced that they will continue the pursuit ns as far as tle the chinese continue to set bip up de tenses benses the japanese authorities deny however that they intend to occupy and their apparent plan Is to create a buffer area out of the triangle to facilitate the consolidation of the newy newly conquered province of dehol they have gained control of all the important passes through the great wall on the southern border of dehol and the gates have been sealed and heavy guards placed at them political disorders murders CUBAS C and bombings of which much has been written in recent months have finally ell raged the intention t n the administration 1111 11 in washington representative eamil 1 ton fish of now new I 1 york has been urging our government 1 to employ diplomatic 4 t I 1 intervention to end tile the reign of 1 I 1 terror and saldie said he I 1 11 J would formally demand that secre rep fish detary ay hull gh t tg a k e such sucha a step unless the administration got busy very speedily for a time mr hull seemed averse to any interference but mr roosevelt started things by calling the cuban ambassador don oscar G B cintas to the white house tor for a discussion of the situation the ambassador also conferred with sumner welles assistant secretary of state and vim then mr air welles went to the white house for instructions mr air roosevelt has no desire to order military intervention in the affairs of cuba which be could do under the platt amendment holding that this would cost us a lot of money anti and besides would enrage president machado and create an unpleasant diplomatic situation therefore his present plan Is to take steps to redeem the islands financial situation which la Is wretched and to relieve the unemployment and discontent that are at the bottom of cubas difficulties he be and the state department w wish ish to increase the sugar imports from cuba by granting substantial reductions to the island on the sugar tariff this naturally will not please the domestic cane and beet sugar industries there Is a genuine fear among some officials in washington that opponents of president machado will in their efforts to overthrow his regime perpetrate some outrage against american interests in C cuba alza thus raising a situation in which the united states might be compelled to intervene famous trial of six british engineers and eleven russians on charges cli arges of espionage sabotage and bribery ended in the conviction of five of the britons and ten of tile the russians L C thornton was sentenced to three years in prison IV H macdonald who pleaded guilty to two years allan john cushny and charles were ordered deported A W gregory was acquitted the ten russians were given prison terms up to ten years there was nothing surprising in the outcome unless it were the mildness of the penalties inflicted indicted the british government which had been watching the case with intense interest struck back at the soviet union promptly king kin george and the privy council declared an 80 per cent embargo on russian imports ports and the metropolitan vickers electrical equipment company employer of the convicted men ordered an immediate appeal in behalf of the two defendants who were sent to prison I 1 M MYRON YRON C TAYLOR chairman of the united states steel corporation has added his voice to the chorus of industrial executives who believe t the h e I 1 course ot of the depression 11 pres slon has turned at the annual meeting of stockholders I 1 in hoboken mr I 1 V taylor who Is noted 1 in the financial 1 I 1 di district tri C t for th the e cautiousness e e of III his utterances I 1 4 te rances declared ea 11 better times are ax 4 V I 1 ahead MC M C taylor and in support of this belief lie he cited the fact that the corporation was operating at 21 per cent of capacity tile the first time that operations have reached this leel since march 1932 following his address mr taylor presented to the meeting a motion by a stockholder for a vote of confidence in the roosevelt administration tra tion it was carried without dissent by a standing vote UTH BRYAN OWEN the new Rm RUTH minister InIster to Deni and the first american woman to be given such a diplomatic post has told the newspaper men that she intends to serve bear in the legation in copenhagen which is something for tile the daughter of william jennings bryan lifelong advocate of prohibition yes slie she said sald 1 I will serve 32 per cent beer it is in keeping the law of my own country lind and the custom of the land to which mitch I 1 an am going but I 1 dont con consider that important I 1 am really Interest interested etl in the progressive development in denmark which I 1 hope to study for my country 0 ha 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