The Barnwell people-sentinel. (Barnwell, S.C.) 1925-current, January 25, 1934, Image 2
President ^sks for Nationalization of Gold Supply—Not
Yet Ready to Fix Exact Value of Gold—Cuban
Presidency Goes to Carlos Hevia.
By EDWARD W. PR
President
Roosevelt
PRESIDENT ROOSEVELT Sent to
4 congress his long-awaited message
on monetary matters, and ft should be
in a measure reassuring to business
and finance. He asked
that the gntd supply
of the country he na
tionalized and that his
powers be redefined to
enable periodic revnl-
uatlon of the dollar
within- a range of f>0
to 60 per cent of the
present gold content.
Tie already' had tire
power to devalue the
dollar down to 60
per cent, but he does
not do so yet, saying
that “because of world uncertainties.
I do not believe It desirable In the
public interest that an exact value be
now fixed." He added that careful
study had led him to the conclusion
that aby revaluation at more than 00
per cent would not be in the public'
Interest. ‘
The President asked full power to
take over the last outstanding supplies
of gold in the country, much of which
belongs to the federal reserve hanks.
The legislation he requested, he ex-
_ pUlaadr --‘plaeea tfiS right, title and
ownership of our gold reserves In the
government Itself; It makes clear thty
government’s ownership of any added
dollar value of the country’s stod^of
foJd whkh woutd result from ah/ de-
crease of the gold content of the dollar
which may be made In the public In
terest” / »
The profit that may result from cut
ting the goht content, the President
proposed should be use^I to set up a
two-billlon-dollar fund for purchases^,
and sales of gold, foreign exchange
and government securities.
No further recommendations concern
ing silver were made In the message,
the President paying he believed- “we
should gain more knowledge “of the
results of the London agreement and
of our other monetary measures."
were so numer
ous and so determined
that no one would
In talking with the correspondents, predict the outcome.
Mr. Roosevelt explained once more
that the objective of jtjs monetary pro--
gram is to bring the purchasing power
of the dollar back to the level at which
the average debts of the country were
Incurred, so that these debts may be
/fraid off with a dollar equal. In value
to that at which the debt was Incurred.
He made It dear that bis program
does not call for a resort to green
back currency., -
Immediately after the reading of the
President's message. Senator Duncan
U. Fletcher of Florida, chairman of
the senate banking and currency com
mittee, introduced the administration’s
bill to effect the monetary changes
proposed. He called his committee to
gether the next day to consider It, and
Secretary Morgenthau was the first
to be heard In argument for the legis
lation asked.
Only two Democratic senators came
out In the open promptly in opposition
to the President’s program. Carter
Glass of Virginia and Thomas P. Gore
of Oklahoma Both declared that the
appropriation of the reserve banks’
gold was unlawful and immoral. Most
of the Republicans were cautious In
their expressions of opinion.
Secretary Morgenthau made a final
attempt to get Into the treasury all
remaining prlvats gold holdings. By
his order aU parsons who did not turn
In their gold by midnight January 17
are liable (o have It confiscated and
to being fi»o< double the amount of
their hcldtage.
R amon grab san martin, final
ly yielded to the force of circum
stances and resigned as president of
Cuba. His decision to quit was made
at a closed meeting of government
leaders, who thereupon undertook to
select a man te fill the office tempo
rarily. Antonio Gulteras, secretary of
the Interior and of war, wanted the
Job. but he was shat out of the meet
ing. A newspaper quoted him as say
ing the navy would fight If an agree
ment was reached unsatisfactory to
him and his follower^. The leaders of
the various cliques were debating
whether to pick C&rlos Mendieta, who
was supported by Col. f'ulgenclo Ba
tista, commander of the army, or Car
los Hevia, the young secretary of ag
riculture.
The choice finally fell on Hevia,
whom Colonel Batista consented to
tolerate, and the thirty-three-year-old
statesman, after several hours of hes-
Itatton, announced: “I am the pres
ident" There was a lot of rioting in
Havana and at the nearby Camp Co
lumbia and at least three men were
killed. -.
Just before he resigned, San Martin
signed a decree by which the govern
ment took over full control of the
$100,000,000 properties of the Cuban
Electric company, which is owned by
Americana This was because the em
ployees of the company had struck
and all the power and gaa for most of
the Island was. cut off.
ENRT B. HUHT. a spokesman for
’Secretary tekea appeared at the
hearing on the electric code and
stroiigly denounced, the private power
Industry and Its ruling elements for
^unsocial conduct" and “nefarious
■ ^ Like the federal power
commission, he declared- codes for pub
lie utilities should not be considered.
I{unt directed his attack especially at
the Edison Electric Institute, propo
nent of the power code, and said his
charges were borne out by the rec-
•ords of the federal trade commission
power Investigation.
Both Hunt and Frank R. McNInch,
chairman of the power commission,
assailed many provisions of the code
as either Intentional attempts or Un
guarded opportunities for the Insti
tute to seize much of the regulatory
power over the Industry mm held by"
the United States and the several
states, and designed to weaken the
government and’'rrfuhTtTptrlly operated
power properties. /
Their ..chief contention, however,
was that the industrial act authorized
codes only for qdn-monopollstlc In
dustries; that public utilities • "Webb
lightly monopij|tetlc*in character, and
that, therefor/ the only, thing the ad-
-mlnlstratlon. should do was obtain an
agreement/to Improve hours and wages
of the power employees.
P ractically without opposition,
a measure was put through the
house and senate extending the Hfe
nf thbHeconatraction Finance corpora
tion for another year and providing It
with $860,000,000 of new capital! There
was little debate, and In the House
only Louis T. McFadden of Pennsyl-
vanla voted'agulrwt nwr bill. """" ‘
major aviation disaster. The giant
trl-motor plane Emerald, return!:
from a flight to Saigon, Indo-<
crashad in flames and exploded
tween Lyons and Parls f anfr Its toh oc
cupants perished. Among the victims
were Pierre Pasquler, governor general
of Indo-China; Emmanuel/ Chaumle,
government director of chtlj aviation,
and Mme. Chaumle, and three other
high aviation officials. The Emerald rep
resented the latest Ui planes of this
sort Christened \njti Ju5e. lt was the
Intended prototyo^ of a whole fleet
of heavy transport planes. .
f TALO BALBO, the bearded Italian air
* marshaV;who commanded the great
mass fliont from Italy to Chicago and
back last summer and thereby became
too popular to Trait
P r^ m I e r Mussolini,
hgs made his peace
the Duce and has
assumed hia new du
ties as the governor
of- Libya In north Af
rica. He crossed fhe
Mediterranean in state
mrthe new cruTSer Xr -
berto dl Giussano with
another cruiser In es
cort, and when he
landed was received
hy all the Italian officials In the colony
and a colorful gathering of the native
troops.
Balbo, who Is Just thirty-seven years
old, replaces Marshal Pietro Badoglio
as Libyan governor, frhile a new-Hne
of activity. It will he a Job with an
opening for him, for Mussolini wants
fo make Africa In time an outlet for
Italian emigration andthat same gran
ary which It was during the days of
Imperial Rome.
J USTICE CHARLES GARROW of
Toronto refused to upset the Judg
ment of Justice A. C. Kingston order
ing that Mnrtin J. Insull be detained
for extradition ‘from Canada to the^
-Italo Balbo
DUTTING to the test his Influence
* over the senate President Roose
velt In a special message to that body
-aqked'speedy eonsldei alluu awf i
flcatlon of the SL
Lawrence waterway
treaty with Canada.
The opponents of the
pact had been wait
ing for the chance to
start the battle, and
they
United States for trial In connectioj
with the collapse of the Insull pi'hllc
utilities empire. The fugitive Chica
goan took an appeal and was released
on $20,000 hall.
"was believed that -^muil Insull,
who must leave Greece by January 3\
wduld try to go to Turkey. But now
the Turkish minister oy the Interior
has Instructed the police departmehr
not'to permit gam to/enter that coun
try,
P UERTO RIC
a
Ratification requires a
twotthlrda JVQta^ot^A- _
of the 96 senators. Sen. Wagnsr
Coincidental with the reception of
the President’s message was the sub
mission of a minority report by Sen
ator Wagner of New York as a mem
ber of the foreign relations commit
tee, In which Mr. Wagner argued vig
orously against ratification of the.
treaty. He declared the cost of thj^
watefway to the United States wo/ld
be $573,136,000 instead of the $272,-
453,000 estimated by the proponents of
the pact; and he asserted the United
States would spend thre» titties as
much as Canada, though the Do
minion would- receive a “vast prepon-
derance” of the benefits. The senator
added:
“Most Important of all, 1 am not In
favor of a public wprks project de
signed to employ Canadian workmen
with United States money. The treaty
provides that although the United
States la to supply the funds for most
of the work In the International rap
ids section of the St. Lawrence river,
the portion of this work on the CAna 1
dian side of the section Is to be per
formed with Canadian workman using
Canadianr materials.
The President’s message to Ihe sen
ate ga/e his opinion that the treaty
was fair, that* the waterway project
was economically sound. He declared
that “local fears of economic harm to
special localities or to special Inter-,
ests are grossly exaggerated.’’ He at
tempted to .dispose of opposition from
Illinois and Mississippi valley senators
by declaring that the treaty provision
on the diversion at Chicago was ade
quate to guarantee a sufficient volume
of water.
The opposition of Chicago and the
Mississippi valley to the treaty was
voiced especially by Senators James
Hamilton Lewis of Illinois and Ben
nett Champ Clarklof Missouri.
G ERMANY’S great church quarrel
goes on unabated and the Evan
gelical pastors are still determined
that their religion shah not be 'nazt-
fi e d. Reichsbishop
Ludwig Mueller, who-
is a confidant of
Chancellor Hitler, Is
sued a decree forbid
ding pastors to criti
cize the Nazi Protest
ant church adminis
tration from the pul-
pits under pain of
dismissal from the
church. But tlm re
bellious ones, organ
ized as the Pastors’
Emergency league, de
fied Doctor Mueller and- for the sec
ond time read to their congregations
a manifesto demanding his resignation.
It was up to the councils of the
churches to enforce the reichsbishop’s
decree, but several of the councils de
clared openly they would not do so.
Bishop Mueller showed some Inclina
tion to recede from his position, but
the militant Nazi German Christian
pastors brought great pressure to bear,
telling him they would support him
only so long as he stuck by his de
creet. The bishop also seeks to annul
all church laws passed In 1933 so be
.can proclaim new ones.
has a new governor
who may plebse the Islanders better
than did Robert H. Gore. He is Gen,
Blanton WiSship," former Judge advo-
cate general of ^ ttibn"
of experience In Insular affairs. He
served Jtt Cuba and the Philippines as
■ " r an" adttser to the highest American
officials in those parts. Also he was a
military aide to President Coolidge.
His home town is Macon. Ga. Mr.
tore, whose administration was bit
terly and constantly attacked by Is
land politicians, resigned, stating Ids
reason was Hi health. , ^
President Roosevelt also-setected -a
new chief of the weather bureau in
Washington In the person of Willis G4
Gregg. v He succeeds Dr. Charles F.
Marvin.
Dr. Ludwig
. Muallar
Premier
Chautemps
desperately to savp/ his French
government after the/great Bayonne
pawnshop scandal, promised the chain
her of deputies to
clean up that affair,
and thereupon 'was
given a vote of con
fldPiiCe, TWO against
229. The vote rame
on the government’s
opposition to the ere
atlotrof a parllamen
tary commission to in
vestlgate the collapse
of the .Bayonne-Insti
tution. the death ' of
Its founder. Serge
(Handsome Alek) Stn
vlsky, and the part several deputies
have accused high officials r of taking
In the affair.. The premier insisted
that such a commission would not got
to the hottbra of the charges.
The premier promised to Investigate
the affair personally and to spare no
names. During the heated debate be
admitted there had been looseness and
poor functioning of various services,
but denied the charges of government
al and police corruption. The opposi”
tion deputies were furious and there-
were open declarations that the coun
try faced a dictatorship. Chautemps re
plied vigorously and made the assertion
that a coup had been prepared several
days previously to put the government
in the hands of a t few “energetic" men
to act as a directory. r
Meanwhile the royalists and young
men sympathizing with them, ever
ready to take advantage of circum
stances, were rioting In the streets
and battling the police in the effort
to gain entrance to the chamber. Ex
citable correspondents sent cables In
dicating that the republic was abont
to fall, but heavy rains put a stop to
the demonstrations, for even' French
monarchists don’t like to get wet. '
C HINESE Nationalist forces after
severe fighting captured Foochow,
the headquarters of the rebels In Fu
kien province, and It was reported that
negotiatloriTs were proceeding to settle
the dispute between the Nanking go^
ernment and the leaders of the rebel
movement There was great disorder
In Foochow, for all the officers of the
Nineteenth route army except Its com
mander. Gem Tslng Ting-kal, had fled
and the leaderless soldiers were run
ning wild. On the request of Vlca
Consul Gordon Burke, an American
naval party waa ordered ashore from
the gunboat Tulsa to protect 144 Amer
icans In tbs city. ,
• hy WMtara Ntwapapor 0*1**
National Topics Interpreted
by William Bruckart
Washington.—While all of us are
wondering whether the new year npon
; which we so recent-
*. Sees Great lyembarked will see
War This Year an en(1 t0 the “«*•
ery snd^ suffering^
wrought by the depression; wondering
whether the President’s program for
spending our way -out of the
Sion Is going to work; wondering
whether, our countless domestic prob-
can be solved—I believe most’of
us have been overlooking a -grave dan
ger that appears now to he rushing
headlong at us. At the risk of being
Jingoistic, I am going to record herd
a conviction that a gigantic war will
under -way- ere we turn Into the
lane marked 1935.
Some months ago, I wrote lb these
columns observations ’ gathered In
Washington that Japan was on a fence,
undetermined which wa/ to jump.
Japan seems now to Juve decided.
Her course, unless* quickly changed.
Will lead directly ap^ with startling
suddenness into conflict with Russia.
The great Rnsslap bear Is fully aware
•f thin War preparation is going pn
there and It Uy going on feverishly In
Japan.
But that not all Clouds of storm-
portending; intensity are gathering In
Eurdpe. / ■They center about another
Franco^German conflict. And Russia
ling “the potentialities 'of that
ition as well.
[llltary and naval students here,
Ind there are some of) the greatest of
the military and naval scientists In
tfiS WdiTd located In Washington, as
sure me that neither a conflict be
tween the Japanese and Russians, nor
a Franco-German controversy ending
In arms can be localized.. Others
among the -peoples win he drawn' fn,
despite efforts to keep the peace. I do
not know, nor does any of the author^
ttlea, whom I have consulted, know
whether the United States can remain
outside of the lines of battle once they
are drawn. My suspicion is tbat tbu-- cr * tJc majority is afraid to oppose the
United.
Nations
States would be dragged, la.
font la this age
themselves alone.
cannot live te
A picture ef conditions among the
Itomnr. , hl . writm,
nted with the details,
shews relationships to be something
like this:
Russia and France regard Hitlerized*
Germany as a constant menace and
they have understandings that take in
Poland and several other lesser states
that always have been aligned with
France as military allies. It might
be called an entente. Then, Germany
and Japan, each aware of the forces
at work against-tbem, have been re-
ported as trying to establish some sort
of an agreement to act In concert
against Rnsfeia. Italy, likewise, is said
la he playing one group against Uie
other in an effort te-gather~scmethlng
for herself. And behind the scenes.
^^AMILLE CHAlTTEMIffi^ Af.-Utloe-: ---#0 to apeak, the British John Bull Is
shown as trading for advantages be
tween the two groups, seeking all of
th# while to avoid a European conflict
but apparently out In the open, or
nearly so, in support of Japan against
Russia.
y!-" ' ! - ■
Wilfrid Flelsher, Tokyo correspond
ent of the New York Herald Tribune,
reported -1 o his
Uneaty newspaper the other
About Japan that,Gen. Sadao
. Arakl, Japanese war
minister, had called the attention of hia
people in a speech to the fact that this
Is ’/dog year." He explained that Jap
anese greet 1934 with pleasure for “In
a dog year things come easily." He
identified a “dog yfcar" as meaning
smhotb sailing In all affairs.* There
are a good many men In high places
of our government .who shuddered a
bit when they read of General Araki’s
statement. They read Into his lines
an Intention t* employ 1934 as a year
la which to attempt to weld the civili
zation of the Orient a*d the Western
world, a year to launch a holy mission**
Such a religious fervor contains por
tents that are -not pleasant to con
template,"ns much because of the In
direct, as because of the direct,-
effect of lighting the fuse.
As the political maneuvers.continue,
a good many economic factors and de
velopments have been going on unno
ticed while we here In the United
States worried about the mortgage
that was due, or about a job. or about
aome other purely domestic matter.
For Instance, a brief cable dispatch
a few days ago told of an arrange
ment by which Japan was trading fin
ished textiles for Indian cotton. It
reported .that, Japan would buy 1,500,-
000 bales of cotton, paying for It with
400,000,000 yards of cloth. Cotton Is a
necessary prerequisite fpr war prep
aration.
Also, Japan has been buying scrap
iron for a year or more. That/baa
been almost the only market for scrap
Iron which the United States, has had,
but it hat been a good market Freight
cars (hat are not ef sufficient value te
be repaired are being broken do#n
and the scrap shipped to Japan.
And last but ef great Importance, is
’he news report that vast deposits of
nickel have been , discovered In , Mon*
golla. Nickel, as every one knows, te
a highly Important
and the deposits,
than those la Canada,
worked to the fullest.
Sq It -seems to me that when Preal
rered
one t
In war plana,
large or larger
are being
y '
dent Roosevelt spoke, In a dinner
speech commemorating the late Presi
dent Wilson’s birthday, that there
was danger of war, he told the country
then of a danger that is much mors
grave than b^ desires to admit at this
time.
But If/war does come, all of our
be changed at once. Un
employment will disappear quickly;-
farm surpluses wHl be- absorbed, pub-
llc/works, debts, taxes, credit, currency
lestions, all of these will be changed,
iad in their place will come new prob
lems. * _!. ———
? President Roosevelt Is following out
s policy in respect of his dealings
with congress
Foot fo Oppose that he began
President wh « B h ® wa<
forced to call It
into extraordinary session , last Match.
Then, through circumstances resulting
from the distressed condition of the.
country at the moment, the President
was able to formulate a program for
relief enly Ip piecemeal fashion. Con
gress did his bidding. He submitted
a recommendation one day, and a few
days later It waa enacted into law.
He and his advisers wrote most of the
legislation before It ever was submit
ted formally to the house or the senate.
Now. the President la doing to same
_ SEINE’S BAD EFFECTS
,ine Interesting experiments were
.ntly conducted with domestic r&b-
1 by the University of Helle, Ger
many, says Pathfinder -lagazine.
Straight coffee and solutions 'of caf
feine administered to the rabbits re
sulted in each case In ihe curtail
ment of their prolificacy. Coffee from
which the caffeine had been removed
had no effect Female rabbits, it wa$
found, were affected more than the
males, while repeated doses of the
drug over a period of time resulted
In deterioration of the reproductive
cells In both sexes. These results. It
Is claimed, do not apply uncondition
ally to humans, as they are much
more Insensitive to caffeine than are
rabbits.
thing. He apw the advantages of the
system that be was forced to use once,
and te capitalizing again on the per
sonal popularity which be has through
out the country. Consequently, his
speech, his message on the state of the
Union, waa In the form of generalities.
He made not a single specific recom
mendation. But they are forthcoming
now In numbers. One hy qne, the
Tn-ojertr'TJTTiTir^^
White House te the Capitol, there to
be accorded support by the tremendous
majority which the Democratic party,
holds. Few, If any, Of them will be
rejected. The reason la the" Demo-
The public is fast returning to the use
of liquid laxatives. People have
learned that the properly prepared
liquid laxative will bring a perfect
movement without any disepmfort
at the tune, or after.
1 * The'dose of a liquid laxative can
be varied to suit the needs of the ^
individual. The action can thus be
regulated. A child is easily given the
right dose. And mild liquid laxatives
do not irritate the kidneys.
Doctors are generally agreed that
senna is the best laxative for eve“
President.
Politicians, even In the President’*
own party, are mystified by hls wide
popularity. And when a politician te
body. Senna-re a natural laxative
does not drain tbe system like the
cathartics that leave you so thirsty.
Dr. Caldwell’s Syrup Pepsin is a
liquid laxative which relies bn senna
for its laxative action. It has the
aver age pefsorTs howefsas Iregular as
clockwork in a few weeks’ time.
You can always get Dr. Caldwell'S
Syrup Pepsin at anv drugstore, ready
for use. Member N. R. A.
Is This Too Good
for Your Cough?
Creomulsion may be a -better
about It 1 The result is that the Presi
dent la going to get on aa he desires-
with consolidation or expansion or ex
tension ef hls recovery plans about
aa he desires. Republican leaders
In congress are not going to raise
much of a fuss. Their policy Is to let
the Democrats take aril of the rope
they can uSe, and hope they will trip
themselves. Democrats count on the
personal popularity of the President to
carry them along to' re-ciectton.^for'
they don’t see anythingdsa to (fo.
And while the subject under dls-
cuslos Is the personal popularity of
the President, Washington observers
attached great Importance to hls per-
sonal visit to the halls of congress for
delivery ef'-bis--mesage on the state of
the Union. You will remember, the-
m ess age was broadcast. Nume/ouf
writers and other observers here main
tain that Mr. Roosevelt was hardly
giving a thought to congress, even
though he stood before Us member
ship In person. He was concerned
then, he had been concerned before,
only with making his position clear
with the' folks back home. In that
manner he succeeded.in getting pres
sure exerted on congress for the
things he wanted done.
* * *
Present Indications are that there
will be little meddling with the tax
laws this session./
Avoid New The program of the
Tax Levies administration. a s
thus, far /. unfolded,
is read by many as avoiding new tax
levies until' congress returns In Jan
uary, 1985. In the meantime, the con
gressional elections will have been
held and the average person Is not
going to get excKed about future taxes;
the Democrats will be able to cam
paign without having to fight Repub* 1
llcan argument calling attention to
Increased burdens of taxes.
- But more—-taxcs will have to her
help than you need. It combines
seven major helps in one—the
best helps known to science. It te
made for quick relief, for-safety.
Mild coughs often yield to lesser
helps. No orie can tell No one
knows which factor will do most
for any certain cough. So careful
people, more and more, are using
Creomulsion for any cough that
starts. > /
The cosf Is a little more than a -
single help. But your druggist
guarantees It, so it costs nothing If
it fails to bring you quick relief.
Coughs are danger signals. For
^safety’s sake,* deal with them in
the best way known. (adv.J
CHAPPED
HANDS
To
relieve
> thing,
cooling Menthelatum.
MENTHOLATUM
for U
BILIOUSNESS
Sour stomach
da* anil headache
due '±0
CONSTIPATION
levied In another year. The Presl- j
dent has proposed to congt-eii the
greatest peacetime budget in history,
a budget that proposes the appropria
tion of $10.000,000009. That te almost
two times ah much money actually as
there Is la the United States, for the
money stock of the governmenf ranges
only slightly more than $5,000,000,000.
So It means that government credit,
government debt will be boosted to
new heights. Unless onr government
wants to do the dishonorable thing of
defanltlng on Its obligations, the notea
aad beads It sell* on which the money
is borrowed for budget use will have
to be repaid. The taxpayers will pay
and pay and pay! - ’
For Instance, when the public debt
reached Its hitherto high point, about
$26£0QJ)Q0,000, . tbe Interact, on It
amounted to $960,000,000 annually, or
about $80,000,000 a mouth, more than
$2£00,000 a day. The figures are
stupendous, but they can be larger. If
the present average rate of Interest
paid by the treasury te continued; that
la. If the government does not have to
pay a higher rate than the 8ft per
cent now paid, the Interest bill on the
debt of about $31^00^000,000 will ap
pro&ch $1,100,000,000 a year? Mr.
Roosevelt said Is hte budget measag*
that the debt ought not be allowed te
go higher than $31,500^)00,000.
_ * bv WMUra N*w*p*p«r USlVa,, __
354
PAINS IN BACK
Mis. W. L. Ward. Gent
Del, Mtcsnopy, Fla., uid:
"Constant bexdaches - just
about drove me mad, I
1 slept but very little, my &p-
' petite was poor, I loat
weight and strength and bed
pains in my back. Three
Dottles of Dr. Pierce’s Fw-
vorite Prescription complete
ly restored me to health af-
nr 1 suffered s general breakdown.”
Write Dr. Pierce’* Clinic, Buffalo, N. Y.
New dee, tablets 50 eta., liquid $1.00. Larne'
jim, tabs, or liquid, $1.55. “We Do Owe Pare.**
PIMPLY SKIN
toon improved and blotches deazed
away by daily treatment with
WNU—7
*34