University of South Carolina Libraries
T^he Clinto^ Chronicle, Clinton, S. Cj, Thursday, February 8,19S4 - •v Nfews Review of Current ■ . i Events ^ the World Over New Deal Money Bill Put Through Senate—Secretary Perkins Proposes Federal Tax for Permanent Dole Funds—Polish-German Peace Treaty, I National Topics Interpreted by William Bruckart t RABBIT FEATHERS L4Uie I'Briil has a |tet rabhit and 1* very fund of IL Her daddy went huntins and brought borne a wild one. Id dressint; it. he left a litti** tttft of fur on the itniund. t'arol came running; in from play and saw IL She said: ^ *\»h. mummy, you killed iny bunny.- Carol, we didn’t. By EDW.4RD W. PICKARD \/'IFn.r>rNO by a larjje majority to • the I*re5*)derit’s demands, the sen buofU is-in bis-'caiie.” mother said. •“Why. no. oti le *Yoa did so; 1 see some of his fey- eers on the pround." was the reiily.— IndtanaiM>!ts .News. Rock of Afos “What is the’lnortar board I hear mentioned so often?” asked the little *■111 try to explain." said .Mlsa Cayenne,^"althotjph it, is a slightly complicated matter. A mortar board carried by a builder often iias cement on top and worn by a college pro- fessatr often has exmerete under It.”— Pkliander In the Washlnf- Dinosaur Egf Kitchenette—I gave the professor a large slice of layer cake for his lunch. ilumidorras — We all wondered where be pot the pe^doglc si>eclrneo be was lecturing on. — Lou Is villa <'oa)ner-Jou rna L er-joyi Suburban Strategy J<ine< Will you raise your own vepotatd*-* year? S iburb No. Just praise the nelgh- b4*r< tni> b and they’il phe you.tha liest they as a brag I’—llrooklyn I>ady PARTICULARS, PLEASE Mra tHiich—My husband Is ah—S C«»ii>*T\a!ive. 5Irs. Nurich—Oh. I didn’t know h« was in ihjal busJiiess. Hashe, er era Urge c>»!.s»T\at<»ry ? Wbat a Man | Ptio—tih, Ja<k. that's" ten times this week >**u've knocked off my clS'se* and br«*ke;j them while kla*- Irig ne: He—Never mind. deaf. After we’Pt marr>-1 I ’l be noire c<‘on<itii!caL— Brooklyn I»ally L,igle. ate passed his New J>eal money bill. Inserting only a few Donrontr»j|ersial amendments to which the house readily ■agreed.. The adminis tration’s victory waa decisive and waa pro- ifeded by the rejection of two major propos als which were obnox ious to Mr. Roosevelt and his financial ad- viwiVs. The first of fhe.se provided that ccuitfol of the fl’.tlftO.- Senator Glass <^,0 stabllixatlcm fund should be given to a board of five Uistt-ad of to the secretary of the treasury. This was defeat- i ed by the votes of W) lH*mocrat8. j three ■‘radlcar Itepuhlicans and the ; single Farmer laifKir senator. The sec- 4 e»nd ametwtment offered wrar put ~for i ^•ealen only by the assistance of 17 ; Republican senators, for Ileino- , crats were rvs^rded in favor of it and the vote stfetd 4,1 to 4.''i It would have ! provided for the purchase and re- ^ Dionetlzatfon of silver. , /"The final vote on the measure was ♦>» to ‘SI «»ne lone I»em«KTat had thip nerve to stand out against the ad- mlniHtratifin and uphold by his vote his rt»rivlrtions. although wveral oth- t rs h.vd op|«/sed tlie hill In debate. The man who was true to biiuself was • 'urfer «;ia>-s of Virginia, sis-retary of 4tr»S'orT under WIImio and coauthor . of the fe<!eral re^-rve a<'l. Senator ! * - ; <{i*re of-v»khfhoijia was paired again.st r the rie.;»!ire but did not vote Sena- ; r,.r Mr.%d*e» of i'alifornia had done a b>t of op|M<';ti<<n talking but quit with , tfiAt and wijnt Udo the •'aye" rolijuifi. " .MT the independeiit" Republicans j an-l ;"blic.*e.id. Karnier l.jilM»rite. sup the li:!l. Though the iiioiiey bill has been ■ sii.'nmar; •«! l« fore in fhi.s colutiiii. It oi.-fv l-e w*-|| to •iiafe again its main r pro\as follows; The tresisurv is given title to all the n.nflon ■* iiHoo-tary gold stocks, Incbnl ing K*. >sn»»M«si held by the feileral ij*'»-r\e iMitks. The President Is authorired to re value thf dollar at r»<l to <ib |»er rent of iiH pre^nt sfatut»»ry gold e«|ulva l»-iit • ’oiii.ige «if gold la d«H-lared at an end Hie n'letsl Is to be held In bill lion fitrm In the treasury as backing I.»ewl8 of Maryland. The Perkins announcement atremied the point that the bill would not pro vide a fede^H^ unemployment Insar- an<*e ' plan, concerning which there might l)e some question of legality. ’‘The proposed federal tax bill.’* read the formal announcement, “will work In such a way as to promote tbe 8i>eedy passage of stale unemploy ment insurance laws. **1116 federal bill will not define what kind of laws the states shall ^pass. Wisconsin Is the only state which now has an unemployment in surance law, hut mea.sures are pend ing in many other states." ‘ Washington.—Hie Prealdefli:* move. DOW sanctioned by congress, to pro vide us with a dollar Means that has a purchas- Hisher Price,'"* f""" “ by conii»ari.son with the dollar that has T nil CTILL det»*rmlned that the civil works and relief programs shall be dis continued on .May 1 if {sissible. the President has asked j congress to ap- propriat e $bo<).bU0/ki0 more so they can be carried on to that date. In a been our .medihm of circulation so long has caused af^tuf as much cvm- troversy in the National Tapital as anything that has been done under the New r»eaL Nor Is there, at this time, any possibility of either side giving op In their argument.s, for It must be said frankly that there Is merit on either side of the proposition. Mr. Roosevelt has electe«i to adopt • course that mean.s roughly the es tablishment of prices for everything you sell at levels that approximate the range of lO'JG. At the same time. It means that roughly everything you buy wiil be projkortlonately higher than the prices that have obtained during the depression. Thus. It must becr»me readily aiqiarent that raw" ma terials, such as farm commodities, for example, are going to return more to those who are the source of that sup ply Than thev have been receiv;ng Tener To'"Fi>eaker Rainey Mr. Roose- out of money, and exfjerts have figured that If more Is not provided. ab(»ut 17.- Iversons will be dropped from the pay rolls and relief lists. 1 I/IIILE President Roosevelt was the faraier lIu.vs'win’Tiave Ju4nr>i^ up In price. And In between, we find the Individual who lives by the sweat of his brow, the so-called white-collar worker of the office and residents of towns or cities, who will pay more for celehrntifig his fifty-second birth- I everything, and without any perceptl- day with relatives and close personal . friends In the White 'Rouse, many ' th«»usaiids of his fellow cithi^ns were enjoying part!«*s. balls and other en- ; tcrtairijneiits arranged to mark the an- ’ niver-iary These t«K»k place in hun dreds of cifles. towns ami villages ail over the country, and the prweeds will i l»e turned over to the Wann Springs i Foiimlation for Vicflins of Thfantile ble addition to their income. The theory that has b«‘en advan«‘ed by those who supiM>rt the President’s plan Is that It will start a larger re turn of cash to the farmers and that, when such a result Is obtained, an extende<l expan.«ion will t:ike place In the general cycle of business. In other words. It is their" contention that the agricultural Industrw cfmstitutes a key Paralysis. In which tbe President has ' *haf will unb>ck tbe d.mr of a more Yri*en d*sqi|y Interested f»»r years. CKNA'roR IILKY P LO.N’t; of l.ou l.'siana'^ siistaine<1 another !M»vere • XT ! ft.r itaie-r currency. Catty Jane—Jim’s s** <>i -inal. He says things to ii>e that nobody else would ‘ dream of Kaying. J’ll —Wliat's he bc<‘n up to now— a-^k rx Tou to marry him? .Montreal ♦laiette. 'QvieaavWrvy Rule*. - Magl:kirjiie (^n Lngllsh court)^- They say you browh<*at your wife sltamefully. h I The Fjstahliirjition fund Is cr,-a*e,l out of the increa!*ed value •►f the gi.Id a^N-ruing as a result of de «alM3t.on of ihe dollar. It is pla*^^! in fhe w.;,- «h;»rge of Ihe s«*cretary of 'he lre;i-ury and lie Is given author ;t> to ,-\;>*-nd it in virtually any trans- a* tiofi-H -to* may d«*em ms'essary for stabi3i.r;i>g Ihe dollar abroad. In ad<l.t!ofi. the IdII removes S4‘veral ;»re'.ent re*,: rut ions upon the t.'isuaiice of eotertifi*e|it viH-iiritieH. provides* that any l>f*e »if government ohllga- r|on ni.vi t*e |Hir< h.-t.sed with any other fyi»e. that >e<uril)e.s IssihmI may be f“‘id and auUiyrlres Jis |?.uan*e of Fi.VsniiiiMiisi aililitional I fr»-r*>ury n<*te^ It T. Semmes Walmsiey f bl»*w In the .New Orleans I>einocratlc mayoral (irimary, which is Opiivalent to an election. The ’•Klngfish’s” c a n d i- date, John Klorer. was soundly beaten by T. Sefiimes Walm»- ley, the prej^nt In- cumt»ent and n«>w one of I. o n g’s bitterest foes. There waa a third candidate and Walmsiey did not obtain a clear major, ity, hut Klorer an il o u n c e d that be would not force a run- ■t primary. His chief Issue In tbe race wa.s a drastic reduction in nee- trlc rates in New orlean.s. am) as tne pre'.»*nl city adrnln'.slration has prvtm- •wmI to bring this about. Klorer said he Would take it at Its word. Another defeat for l^mg was the finding of the <’ongres.slonal conimit- ,ee in Ihe contest lietween Mirs. Ibde \ar K Kemp and .lare<1 Y. Sanders for the seal of»lhe late Representative Kemp. The “Klngfish” ardently liup- p«>rttv1 .Mrs. Kemp and the elei'tioo was so replete with scandal that the cviniinittee rei'ommended that neither aspirant be S4*aled. The house aijopt- ed this rejKtrt. The' Accused—T never iiruwbeat tier, your worship, I landed on her Jaw —Ixndon Answers. las ev|*«-«leil that President K,w>o*-%,-3l would act quickly in deval iiiiig ill,- d*dlar ^iml setting up the sta ttiozaiioii telSrd. . . ' Did Hit PaH An exchange tells of a spired maniac who ran head-oQ Into a seven- story office building, and. after !♦ gatulng ^imwcUoisness. wealtly mue- mared, *I blew my horn."—Toronto Globe. ' p^:i.SII‘I.NT Iph».*JI:vf;lT’S admin I * i.-^iralKta has projM»M*d to congress i »,-gi-Iaf.oii that would bring the stock atnj •aiuiiiHxlitv excliangi*s of the cmin^ I try umlev itm rigid larntrol of theTi^"" "'’'V Newtrwl Toward Dad **So yon want to become my aon- In-lawr* ‘ “Er—DoC exactly. I only wanted to marry your daughter.”—Dagens Kyhefer. YEAR AFTER YEAR eral government., The President’s in terd**|,ann«eiital iMiniiiittee has made •‘Ugg»-siions for^ fhe feih'ral licensing of th'iwe markets and the creation of a govemuiental agency with extraordi nary |,owers to regulate their ojiera "ojr.a ,Tbe Ivanking and currency com itiiiteea-of ihe t*,‘nate and house have he>e rectvmmemlailons under consider »l:on as a for legislation s«Min to introduced. Tae Interstate cominen'e committee >f the house Is working onflegtslafion. il!*i^ proposed by the Interdepartment li cotomniw, tliat wilT make the tamq- rry’** omtuunications systems subject fo similar regulation byi the feiieral ;*»TernnieoL r" 0 l’'r.'<T.\.NI»rN<On current foreign news is the fact that t.leniisuy and P<dand have signed a {M*aee pa,i that Is to endure for ten yean*. The treaty stipulates that during that (le riod under no conditions is fivree to lie us,*,! in. relatloivs h«»twet‘n these countries The successful negotiation of this |*act is considereii a great Iri- prosjierous era. *»n the other side of the argument, one Itoars tlie Insistent contention that nothing has fM*en gained actually by reiiiiciug the value of the dollar, as njeasiired by gold. Assuming that there will l»e the restoration of llOJ price levels, say opimnents of the President’s coursi*. what will have tieen gainof) f«ir the fanner when the things he has to buy are IncreastMl in price and the buying (siwer of the millions who live In cities, towns or villages has t.een reduced. And It cannot he deni d that after all the farmers’ mar ket i.-< In those areas. It Is equally 1/ true that,wages never keep i»ace with Increasing prices add the natural re sult »*f this dlsi»Hiity Is to fon'e the residents of urban communities to cut down on their purchases, even If that entails reduction of the foo<l they buy. Thev cannot buy If they do not have money. • • • Wbat has haiq>ened to the d<dlar. Itself, hy the President’s action? The answer is, “imthlng." Fight Over That Is corrwt If one consitlers only the phy.sical dollar of sliver or dollar In paj^er currency. P.UI fhe effect <*f the nitlon Is Ihe b«me of contention, and from what I have read of tills nation’s iMdith'al hlst*»ry. anvlMvdy can l»e assured of a re<l hot argument over pro|M»sal8 for tinker ing ‘with OUT form of money. Sir. ft<Mtsevett ha’s done It. hftwever, and he m**ve«l s<» fast that there has lieen 4argunM*nt after the fart,, raiiier th.vD fie^^re it was accomplished. For that re.i-a..n. It apfH'ars certain, you will . Ie*ar arguments of a serious nature. and mavtie a few fist ftgiits. over I nwney questions thntugh several elee- to come. Tir^gef back to the dollar again; The Money pFRM-ANENT d<de funds in all the “ state*.; created mainly by a new ft-ik-ral tax upon all employers, is the I latest plan of Miss Frances iVrkins. I secretary of labor. 1 Her si'lieme. which Is I rather eontplicated. i provides for tbe levy- 1 ing of the tax on the basis of employers’ pay rollA beginning on July 1, 19S5. and rails on all state leg- Islatnrea to set up unemployment funds In eadi common wealth. The employ er wueld be given the choice of paying the %uU tax or con tribnting voluntarily to the fund in his atate. The plan la being put Into tbe form of a bUl to be Introduced Iq On-operating with Secretary i Perkina are Senator Wagner of New TTnov. fi»r«‘ign ooinmTteuiF'oT RussTaTt>e"“8Txty ” cents and the who was trying to coiuNne with Po- | lower limit should be fifty cents. The * obi dollar was rated as worth 2i>.G7 Soc’y Parkina land fftr a protectorate over tbe Bal tic afale.s. They ai>peareil to be go ing abmg with him hut were secretly conducting the negotiations with Her lln. . •According to Kuro|>ean correspood- CTiTs. one reason for Germany’w rad ical change of policy toward Poland ,fs Warsaw’s disinclination to become In any way involved with the problem of Austria, which Is e.x|)ected there to turn Nazi in the near future. Polish statesmen privately state Poland d«ws not oppose the Austro (lennan ail- schluss (union). They claim once this la accomplished the question of ob taining a port *>1^^the Adriatic sea would become more important to Ger many than the return of*tbe Polish corridor. Announcement of the Pollsb-Ger- man treaty created a sensation In Lithuania. Latvia and Estonia, all of which countries have quarrels with Germany and had been relying on Po- 'land’a support fest for some time. Conditions hare to adjust themselves. But the spon sors of the new- sxaangement for money have not been able to explain to me why the artificiar boosting of prices may not lead to uttimate evils. I mean by that to Inquire why. If the prices are started upward, we may not expect to see them reach a lerd that Is disi>roportlonately high, a level that will have the jsarae effect upon you and me, in our dally buying, that drained our resources during the World war. • • • Tlie legislation affecting monetary malters which the Preslilent asked congress to enact in- j Treasury -srtiided authority for.r- HoldsAllGold^}^ *? that the Federal Re serve banks have stored up. It amount ed to approximately $3,700,000,000. All of this gold now becomes the prop erty of the treasury. That agency of the government, therefore, ptwsessee all of the gold for monetary porposea that there is available In this country- When the treasury has taken it over. It will pay the Federal Reserte hanks in gold certificates, yellow hacks of fhe t.vTie that usi^ to be In clfcuIaTloii. But the irony of the thing Is that the reserve banks cannot “cash" tb«i«e certificates. It must simply hold them, awaiting the pleasure of the treasury because they are to be redeemed at the pleasure of the treasury. Of course, the reserve banks will tie allowed to use them as they used to use gold. Fe<leral reserve notes can ite issue*! with the onrashable gold certlfi»‘ates as the collateral. Instead of g«»ld. The reserve banks, therefore, slnifily had to olM*y the de«-ree of the fwleral g*»vernn)ent and turn In their g<MKl g«»ld a.s every one else. Individ uals or coriMirutfons. " The fe*h*ral government Is g«dng to use two billions of the g*dd taken from the resene bank.s to establish a “sta bilization fund.” Simiiltanwmsly. the Secretary of the treasury has been given authority to buy or sell Interna tional exchange. That Is. he can buy British pountls or F’rench franca or German marks, or he can sell dollar exchange or i»uy dollar exchange. .Money fr(»ni the stabilization fund will be u»e<l. The purjKise of this Is to bring abpot a balance between the am«»unt any na tion pays the I’nite*! States and the amount paid by the United States to that psrtlnilar foreign country. By that method, no gold would have to be transferre*]. or only small amounts would change bands. Thnsi it la clalmeil. the new value,of the dollar will lie maintained at what anmunta to an even trading worth Ins*ifar ns f«»reign nations are concerned. Of c«turse.- It is not actually the nations that are concerned, but the business of thrise nations that makes Intems- lional trade, cau.ses the hale of whest or cotton or corn or hogs and the pur chase of coffee, of sugar, of novelties or the hundred and ope other items. No one si-ems to know how mm'li It will cost to maintain the dollar on s stable basis as measured in intems- tfonal trade. AVhen Ihe l*res:deot pro vided for a two hillion-dollar stabiliza tion fund, he apf»arpnifly was guided by the size of the Britl.sh fuq^ whkb mas create*! for exactly the same pur- P*«se. namely, prote«-tlon of-the British l»ound from l*eing made a currency that noiMMiv wanted. uinph f**r Josejdi Llpski. l*olatid's ♦ •rre^*<lent ask«d <c<*ngress to prescribe j the litnifs the devaluizatbm. or to Minister .fo.se|>h lie*-k and the jobilsnt = say If another way. be a-tked congress Boles assert that Iheir nation must i m enact legislation (for which It it now t>e conshlere*! one of the grest \ re«}M«nsib]e to the |>eople. of r»>urse), iKiwers of Europe. They are especial- ! that win let him proclaim a new dol ly proud of the way In which they ' far value as measured In terms of have block«d the plans of Maxim IJ|- | gold, lie toTd congres.s that the upper IN A brilliant ceremony In St. Peter's * the pO[>e beatified three Jesnit priests who were martyred by Indians In South America more than three hundred years ago. They were Fs- thera Gonzales, Alfonso Rodri guez and Jmn ^el rhstillo. who were killed ln"1^ aftCT establlshlny coUee- grains of fine gold. The minimum, or fifty-cent dollar, would be worth Just half of tt>at amount of g«dd and the sSxty-cent dollar would be proporilotr- ately more. When the terms fifty-cent doilar or sixty-cent dollar are used here, they are for purposes of com- parisam wijth the long established dol lar that was valued at 2(X(>7 grains of gold, and gold Is the accepted basis of International trade. Whatever America do<*s, however, does not alter that basis, and c<*nsequently the new Rmtsevelt dollar, assuming It stands at 10..14 grains of gold, will he worth Just half as much In foreign purchases as the formei* dollar was worth. So. as I stated above, there has been nothing happen to the physical mr- rencT. “'The reralulzation has been manifest only In the effecL Yon can change a dollar bill into two fifty-cent Tdeces.'or four quarters, or ten dimes or twenty nickels or one hundred pen nies under the new scheme as well as before. But when you change that dol lar Into commodities, a pair of shoes, s shirt, s’ dress 6r a suit of clothes— If It works out to Increase prices as »Ir. Roosevelt contends—the result will be plaitniy apparent. It Is apparent to moat anyone that full force and effect of the Presl- ir^a actinn Kill Imi.Jie wfcolly man}- DETERMINATION OF SEX About thirty years ago It was dla- coTered that sex Is determined by tbe male cells and this because the cells are of two different sizes. One size gives ilse to female and the other to male offspring. - New poUt* leal and social possibilities were m- Tlsioned. Biologists began to discuaa ways of separating the two sorts and thus ’ settling beforehand whether children should be boys or girls. Soviet science, which Is particn- larly active and dating in biological experimentation, has announced that the two kinds of male cells have at last been separated. In animals at least, It la now possible to determlna exactly what the sex of progeny will be. So said Prof. Julian Huxley re cently In an address that be dellr- ered In London. BuL cautious biol ogist that he is. he wants confirmar tlon before he believes IL—New York ‘Tlmea. .An«*ther phase of the monetary pro- gnim upon which Mr. Ro«K<evelt has iaunche*} seems fo . Credit warrant discussion. Control legislation has the effect, I am told by authorities, of giving the treas ury the greatest power It has ever held In Ihe matter of credit controL ' It has taken over this power fnwa tha Fe»leral Reserve system, which sras created under the I>emocratlc admin istration of Woodrow Wilson, to pro vide a flexible currency for bnsJne^ ; Its purpose was to m-ike certain tlurt V as business expanded and Its ne^ for t more currency developed, the Federal Resene banks could supply IL Wl^h- : er that purpose has been destroyed, j anthorlties Inform me It Is too early ^ to tell. But from all of tbe fe^r that ^ Is evident In ftome quarters, thera most be at least some threat of dan- i ger- I I have been told. too. that the leg islation almost makes a central bank of the treasury. If that be true; the 4 treasury will be able to tell the F^ 4 eral Reserve hanks, to some extent. * how they shall run their affairs, how high or low their rates of diaro«nit , shall be. Perhaps that does not seem ; important; perhaps ft appears te be far removed from life In a small town or In a city, but It Is of direct copne quence to the little general store or | the larger * department store, or the fhe hardware desjer or the druggist, or | any other business. Tbe discoont rate more frequently tluin not determines 4 the Interest rate which your local boslneqe man must pay for money he i borrows. He mast figure'the Intexest ' as a part of his business cost, and add ^ that to the price we pay few the things \ we boy. If I were to select one phase I the central bank Idea hefng more objectionable than another. It Is 'thst ten much control Is being coocen- trated la Washiagton. Waabhigtoa iS' permeated with politics. MercoIizedWax f(o^ps Young Afaaofb bicfnhhes and dbcoloratioas Mcwtifad Waa daily aa directnl. In ol MM akin .are frera jand twhlael kbeadiL taa. freckks mFSaris that ba tve^ and so arfl-^-topa a I yoanoer. Mwcohzed Wax bnnSi rndden bcaety. At all Powdered Saxofit InM* wriakka and other disHlre ono oonoo Semlito daily B fof B BIUOUSNESS Sour stomack M das and headachs M dsufio i CONSTIPATION ■ ■tttUrr Wnnird. No orinng. No lavootmoat. Ur. Wmikrr, Jmrkmom, Mica. iiffik l&iiautA. W V«*‘4 I rm mt rUmh iCk WCO rw S«« «ak CVMI4.0 —JO tm ^ IW mmm Tkmmtrnr tm • CA MICO ■ • •rrCAipcOl SaF.RJSING .Cadick^s CA-MI-CO Self-Rmng Flour raa Foa TRIAL To toiredoeo eo 1 ADVICE TO WOMEN Mix. J. B. Broee of m Hanootr St, W'UaiaWMi, N. C.. oKjrs: *T bad pert- , odlc diatroB, xronld doWds up viib pain, and bcad- adtea weta an aerera 1 tboachc I weaM h»a ag mind. 1 became taan met- roea each time, mimld al- vazs ba compelled In so la hed._l ebtained aacb crew teUef after Dc. Pterce a Faroriie freaaipdon a 'ttma h aeemed beavcely. After 1 bad a fcv boittea I never saffered amiik** Near mae. Ubkta SS cMl. Baeid Xt-OOL rerer the Itchint Whatever the Cause Resinol ReUevM It Onidcly t t >■ • > * i J