The Barnwell people-sentinel. (Barnwell, S.C.) 1925-current, May 31, 1934, Image 2
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The Barnwell People-Sentinel, Barnwell, & C, May 31,1934
News Review of Cufrent
Events the World Over
JGlitary Coup Sets Up Dictatorship for Bulgaria—Senator
Reed’s Victory Over Pinchot—Great Con* „
flagration in Chicago Stock Yards.
prmaiim t»«i4 t mm«w t»
^ obtenre the one hsndrtdtb aobI*
«U7 «f tb« Qmtk *f Owerml Le-
tafttu, tad PraaMcet Raowralt wm
to atUndaoca, earrjinf 4 award pra»
aaotad to blw racaatl j by Coout Banaa
da ChAdbmn. dlract daacandaot of tha
fkmoas French aiarqala. After tha
aaaaloa tha Preaidant placed tha aword
beneath a portrait of Washington In
tha White Boose while legislators, dip
lomats, Supremo court Justices and
cabinet members looked in. Andre, de
Laboulajre, French ambassador, spoke.
/
V
By EDWARD W. PICKARD
• by WMt.m N.w«pap«r LJalon.
G;
wants a square deal and not a New
TW
Governor Pinchot. who has tried
twice before to get Into the senate,
said he would continue to fight for tbo
interests of the people against concen
trated wealth, and It was reported that
he would run Independently In Novem
ber.
Joe Guffey, Democratic leader In
Pennsylvania, easily won his party's
nomination for the senate, but the Re
publicans claim he will have small
chance against Reed In the election!
INSTITUTIONAL government has
been discarded by another fcuro-
peen nation. In a bloodless coup d’etat
the Bulgarian army took control ef
that country under a
military dictatorship.
King Boris either
sponsored the move
ment or quietly yield
ed to It He promptly
signed about thirty
decrees that were pre
pared In advance, die
solving the parliament
and putting the new
government In power,
with Klmon Guero-
King Bona gu | e fr as premier.
Members of the former government
and several other persons were ar
rested. Not only In Sofia, the capital,
but throughout the country the mili
tary leaders were In control of the
situation and no disturbances were re
ported except from that part of Mace
donia that now belongs to Bulgaria.
For jfisars the Macedonians have been
deibandlng their Independence, and
they do not approve of the Fascist
government set np by the army.
The program of the new govern
ment was set forth In s long mani
festo calling for the creation of a dls- Administrator Johnson and his chief
elpHned, orderly state; The principal counsel, Donald R. Rkshberg, bed been
D R. GEORGE F. ZOOK has re
signed as United States commis
sioner of education, effective July 1,
and President Roosevelt has deelgnat-
-ed—John Ward Btudebeker of ties
Molnee, Iowa, to succeed him. Doctor
Zook, who formerly was president ef
the University ef Akron, will become
director of the American Council e<
Education in the fall.
C larence darrows report oa
the NRA, submitted some time ago
to President Roosevelt, has been made
public, and in the main It was Just
what was expected from the Chicago
lawyer and his colleague*. It analysed
eight of the more Important codes and
found that seven of them foster
monopolies, help big business and do
a / lot toward putting small concerns
out of business. These seven codes
are; Electrical manufacturing, foot
wear division, rubber manufacturing,
motion pictures, retail solid fuel, steel.
Ice, and bituminous coal. The report
found no monopolistic features In the
cleaners and dyers’ code.
F OR more than thirty years the rad
ical La Folletteltes of Wisconsin
have been operating as Republicans
and under that label have competed,
often with success,
for control t>f the
state. Now thia Is to
be changed. «W!th the
l ef delegates from
labor and, farm or
ganizations. the fol
lowers of Senator La
Follette, assembled
In convention In Fond
du Lac, formed a new
party and named It
the Progressive party.
No statement of prin
ciples was made, all
bring one forth being
Senator
La Follotts
alterations In the structure of the gov
ernment Include a sharply reduced
membership In the legislature, which
Is to be under firm control of the
administration, a reduction In num
ber of the country's polUlcal sub
divisions, a* general weeding out of
municipal and provincial authorities,
and an Ibtensiflcatlon of attention
upon the Interests of villages and rural
regions
Tbo new premier Is s veteran sol
dier and politician whose mild appear
ance belles his firmness and activity.
Behind Gueorguleff—some even call
him the man behind the whole coup
d’etat—Is Damyan Velcheff. former
head of the Bulgarian military acad
emy.
Boris the forty-year-old king, may
be relegated to a position of compara
tive unimportance, as was the king of
Italy by Mussolini and his Fascists
But Boris Is known as a good fighter
and perhaps he can keep himself at
the head of his people In fact as well
as In name.
given the report previously for the
purpose of composing a reply to It
This they did, to the extent of 50,000
vigorous words They answered all*,
the Darrow charges and asserted the
report was •’superficial,’’ "Intemperate,”
•inaccurate,•• “prejudiced,” "one sided,”
'inconsistent,’’ "nonsensical,” "Insup
portable," “false," and “anarchistic.”
W HILE the Paraguayans and the
Bolivians were engaged In the big
gest and most Important battle In the
Chaco war, - with between 00,000 and
80,000 men on both sides, the League
of Nations council at Geneva sent
cables to 81 governments asklnf ir
they would put an arms embargo on
the two nations This action was
taken after the council had adopted a
resolution favoring such an embargo
at the earliest possible moment. In
accord with the message given the
congress and the world by President
Roosevelt. The State department in
Washington was pursuing conversa
tions with Peru, Chile, Brasil and Ar
gentina In the effort to bring sn end
to the bloody fighting In the Gran
Chaco. Bolivian Minister Flnot ob
jected strongly to the proposed em
bargo, asserting It would Impose sn
Injustice on Bolivia because Para
guay has sn arms and munitions fac
tory and Bolivia has none.
Good news came from Rio de Jan
eiro, where representatives of Peru
and Colombia reached a peaceful set
tlement of the differences between
their nations over the Jungle border
village of Leticia and thus dissipated
a war cloud which has hung over
South America for twenty months.
IN ITS battle with the NRA the Ford
* company won first blood, obtaining
from Justice J. W. Cox of the District
of Columbia Supreme court temporary
Injunctions enjoining Secretary of the
Interior Ickes and Secretary of Agri
culture Wallace from rejecting bids
of the Northwest Motor company for
supplying Ford trucks to their depart
ments.
The orders were based o» the Ford
agency's complaints that the secre
taries hod refused Its bids, which were
acknowledged to be lower than those
of competitors, on the ground that no
certificate had been filed by the Ford
Motor company showing that It was
complying with the NRA code.
attempts to
squelched.
Senator lot Follette kept In the back
ground until questions of organisa
tion were settled. Wl{h the party
name decided, the senator came lot®
the picture with a prepared speech.
The period called Republican pros
perity, he said, had culminated In the
collapse of thd country’s economic life.
"The disaster of 1929 and the acute
distress and suffering of the American
people that followed were made pos
sible by the betrayal of the people's
trust by men Ip both parties, con
trolled through their party organiza
tions by privileged Interests.”
John J. Handley, secretary of the
Wisconsin Federation of Labor, told
the delegates he was disappointed In
the character of the conference.
Speaking deliberately and carefully
for organized labor he said he had
hoped and expected the conference
was to bring together all of the forces
of liberal thought If It does not he
said organized labor will not go along.
A few hours later a state central
committee was formed, with former
Gov. Philip I* Follette as Its chair
man, and In Milwaukee It began map
ping out the campaign for the autumn
congressional and state elections.
SEEN-HEARD
•round tHe
National Capital
IByOAKTEK
m down partteularty badly
Ob tbs contrary, m has frequently
that tha wheat experiment hat pn
one better than' meet
No Wbont for Export
But the belief of a number ef ex
perts In the department Is that the
whole farm program depend* really ea
one point That la that all the major
cropa of the United Statso, irtth the
eggcpUtoo. of. gottnn. ahonld he can-
turned inside the United Statea. In
short this country, in the preeent
world situation on grain, should not at
tempt to raise wheat for export
But If the price of wheat^jijB||
working for the MIL hat a'free son# fhnner la held way above tha world
Washington,—Passage of the foreign
trade or free port sone bill by the ten
ate has opened vistas for vastly in
creased activity at or near every 1m-
jwrUhtJhtfl Ui.Uit country. And
outside the country. For example,
Senator Ooolldge of Massachusetts, one
of the backers of the bill, pippoece
not only a foreign trfcde sone In Boe-
ten, which was the chief object In his
and free port at St Thomas. Virgin
Islands.
Such a zone at St Thomas la a per
fect Illustration of the advantages of
a free port but not such a good illus
tration of the foreign commerce zone
Idea. As a free port St Thomas could
Import from any nation In tbs world
anything It desired. It would there,
upon become a very cheap spot In
which to make purchases, for do tariff
duties would be Involved. Commer
cially, In a Mg way, this would not
be Important For anything bought
such a sone, just as la the case In
Hamburg, Germany, would be subject
to any tariff duties of any country to
which the goods might be taken. Ham
burg baa Men a free port "for many
years.
But to St Thomas this would be
a tremendous advantage. For It would
make that spot the chief shopping
point of tourists on West Indian
cruises. It might easily prove tbe one
thing necessary to restore the prosper
ity the Virgin Islands enjoyed while
they were under tbe Danish flag, and
lost when they came under the Start
and Stripes.
price, no amount of payments to plow
land under, eta, can possibly hold
tbe wheat crop down where there
would Dot be an exportable surplus.
This year apparently nkture has
taken (he problem In hand, and the
expectancy now la there will be no
portable surplus But on tbe law/of
averages next year’s crop might be a
bumper one, and anyway Mr.
la looking at the problem over a period
of years. He does not want the Incen
tlve of higher than world prices held
out to every farmer, encouraging him
Jo grow more wheat than can be Sold
at a fair price, and tending to wreck
tbe whole agricultural program.
The only reason this determination
has not been annnunce<f already Is pol
itics The experts down at the depart
ment did not want to make an an
nouncement, which would drive all the
wheat state senators Into open revolt-
revolt which might easily endanger
various parts of the government’s pro
gram. The President has been having
enough trouble with silver senators
opponents of the various administra
tion measures advocates of paying off
the closed bank depositors, etc., with-
Every returning tourist would have out throwing this Additional bombshell
the
oht
I N ORDER that congress may ad
journ June 5, or at tbe latest by the
middle of tbe month, the President and
several congressional leader* got to-7
gather and pared down the legislative
program. They agreed to limit the
“auet” bills to four eaeasure* These
are:
/
Patrick J.
Hurley
S ENATOR DAVID A. REED of
Pennsylvania, fighting In the Re
publican primaries for renomlnatlon,
emerged from the hectic battle victo
rious over his rival.
Gov. Gifford Pinchot.
Reed's majority was
In the neighborhood
of 100,000, and long
before all the returns
were i« Goveruo
cbot gave up and
wired his congratula
tions to the senator.
Since Senator
Reed, one of the Old
Guard conservatives,
has been sn unrelent- ** n « or Re#d
Ing critic of the New Deal, and Gov
ernor Pinchot, s “progressive" Repub
lican, has given his full support to
President Roosevelt's policies, the re
sult of the primaries was hailed with
glee by opponents of the national ad
ministration. Both the candidates
made the New Deal the Issue In their
campaign, and when the governor was
prevented by Illness from making
speeches, Mrs. Pinchot took the stump
and vigorously, defended the Presi
dent's programs of recovery. Notwith
standing all this. Postmaster Farley
said: ”1 do not regard the defeat of
Governor Pinchot as a New Deal test,”
and Senator Joseph T. Robinson, Dem
ocratic leader, took tbe same attitude.
Senator Daniel O. Hastings of Del
aware, chairman of tha Republican
congressional campaign committee, la
med a pronouncement that the* Penn
sylvania primary result was "a great
Victory for tha American citizen who
P AT HURLEY, former secretary of
war, appeared before the senate
civil service committee In a warlike
mood and angrily demanded that
there be a full exami
nation of charges that
be waa party to a
patronage plot hatched
by Republicans at his
home In Virginia. He
declared that It should
be determined whether
the Depart me n t of
Justice la out to smear
all members of the
preceding administra
tion or whether A. V.
Dalrymple, the special
assistant attorney gen
eral who made the charges. Is "Just
an Irresponsible falsifier In charge of
the wooden pistol section of the De
partment of Justice.”
Mr. Hurley bitterly criticized the de
partment for permitting one of Its
officials, Webster Spates, to read to
the committee an anonymous, hither
to confidential report entitled “the
New Deni with the same old dealers.”
The report declared “the same old
gang of standpat Republicans are
gatekeepers to the patronage pas-
turea." :
Mr. Dalrymple read to the commit
tee letters from C. W. Broom and
Lee Shannon, who told the. Justice
department assistant that
whom they declined to name
formed them of the meeting
ley’s home, where prominent Repub
licans were alleged to have planned
how they could hold on to patronage
Jobs despite the change In administra
tion. Dah-ymple dented that he kffff t TBF’TPBttdBBTIlTOtllOBllBd’ "W'THF
tlonallze silver through condemnation.
This Is permissive.
to declare anything bought there, but
With the $100 exemption such a plan
would mean that a great deal of bu,
Ing would be done by the winter
vacatluDists. and, as the Islands are
very small, this little bit of hi
would be very helpful'.
As a matter of fact. Port su Prince,
Haiti, has enjoyed the big advantage of
this sort of thing for many years. It
Is not a free port, but Haiti happens
to have the lowest tariff duties, espe
cially on French products, of any coun
try In the western world.
Would Help St Thomas
If Senator Coolidge has his way
about SL Thomas, this unfortunate
American possession, hit first by the
death of Its coaling trade and then by
American prohibition, .would have a
wave of prosperity, and Port au Prince
might me the departure of American
marines. \
The foreign trade zone Iz much more
Important. It would enable Boston, or
Savannah, or any other port, to estab
lish such a zone. Into which any for
eign products could be brought with
out payment of duty.- These eou+4
then be fabricated there, and. If the
final product were exported, no tariff
would ever be paid. If the final prod-
-uct wora sold is-the-United State*;
The one blflion three hundred mll-
lion dollar emergency appropriation bill
carrying funds for the continuation of
tbe New Deal relief activities
The communications control bill pro
posing the consolidation of federal reg*
ulatlpn over all communications
The loans to Industries bill, author
izing RFC and federal reserve bank
advances to smaller Industries on In
termediate credit terms.
The deposit Insurance extension MU,
continuing Ufe temporary federal bank
deposit guarantee plan for another
year In lieu of putting the permanent
program contained in the Glass bank
ing bill Into effect at this time.
One other measure that may be put
through at this session la the silver
bill upon which the President and the
silver bloc agreed and which was to
be introduced with a message from
Mr. Roosevelt. As predicted, this Is
a compromise containing these pro
visions:
A declaration of policy that tbe gov
ernment recognizes silver aa primary
money and that the nation’s metallic
reserves shall be 25 per cent silver
and 75 per cent gold. This is manda
tory.
The secretary of the treasury is au
thorized and directed to purchase sil
ver until It reaches $1.29 an ounce or
until Its' metallic reserve strength
reaches 25 per cent This Is both per
missive and mandatory.
of course, the original tariff duties
would have to be paid.
Of course there has always been a
re-export provision In the tariff laws.
Goods could be brought In In hand.
But this had many disadvantages,
which would be obviated by tbe foreign
trade zone idea. Under the present
system tbe goods are under constant
customs control and supervision from
time of entry to time of re-shlpment;
while in warehouse they must be
placed and arranged in accordance
with regulations, subject to check at
any time by customs agents. Except
during usual business hoars,'tbe ware
house Is closed by government lock and
to enter U at any other time requires
special permission and payment for
overtime presence of customs agents.
. —* • 1 * v \
Bad News for Farmers
Shortly after the adjournment of
congress Secretary of Agriculture Wal
lace Is expecting to hand aonii Yery
disillusioning news to the wheat farm
ers of this country. He would have
made the announcement at some stage
anyhow, but the drought In the West
makes the situation ripe for culmina
tion at this time.
His plan. In brief, is to announce
that the government does not intend to,
go on supporting the price of wheat
above that of the world market, Mr.
Wallace believes that the present price
la out of all reason In view of the
world situation, and that the country
RELATIVES
ItoeaBtloB Isn’t tha only child i
ef Necessity. There’s that tough baby
Work.—Lee Aagelea Tins**.
SAVES MORE TIME
and WORK
ihana'IOOSS
WASHING
MAI
dtTefdi a.a a No
WeWefi—«Uflh*o I—SsaMy, Like Gas
time nna-third
R EDUCE your Imnlng ria —^ ,
./. your labor one-Tislfl The Cole-
n Self-Heating Iron will save you
to time and work than a $100 ws*h-
machine! Iron any place where you
can Im comforabk. No tmdUaa «tN canyin*
Ri
made the charges himself.
PPRQXIMATELY $8,000,000 dam-
1 x age wa# done by a conflagration
In Chicago that waa described as the
worst that city had experienced since
the great fire of 1871. It started io
the Union Stock Yards, familiar to
all visitors to the city, and within a
few hours had swept over an area
equivalent to about eight city block*
The flames a In* leaped across Halsted
street, destroying many shops and res
idences- Happily only one human life
was lost, though the injured, mostly
firemen, nuinbered some 1:100. As the
stock pen* were comparatively empty
over the/ week-end. the loss of live
stock was restricted. All the horses
were driven out to safety.
Among the buildings destroyed were
tbe International Amphitheater, scene
of the live stock and horse shows; the
famous Saddle and Sirloin club and
Stock Yards inn; two national
banks, ant the new and old Bxchangs
buildings occupied by many commls-
firmsi Tbo task of rebuilding was
at once, and It was announced'
destroyed structures would
bo replaced by fireproof buildings.
CONSIDERATION of the records of
^ three Chicago federal Judges In
receivership and bankruptcy cases were
under consideration by the bouse Judi
ciary committee, with the possibility
of Impeachment In prospect A sub
committee turned In a report on tbe
Jurists Charles E. Woodward, James
II. Wilkerson and Walter G. Llndley,
making no recommendations for or
against Impeachment but criticising
sharply their allowances, fur attorney
and receiver fees.
With respect to Judge John P.
Barn#*, who has handled several re
ceiverships and bankruptcies in .lhf
federal courts at Chicago since 1988.
the subcommittee declared It had fno
criticism as to his conduct In these
matters”
S ECRETARY OF THE NAfiTT
SWANSON announced that as sooi
as funds can be obtained from -
jHftilc works appropriation asked
the President, the construction /of
twenty warships will begin,
vassals will cost $40/)00,08a
cannot go on Indefinitely supporting a
price so far out of line.
If the price could be maintained way
above the world level, but did'not en
courage too much production, that
would, be something else again, lo Mr.
Wallace’s opinion. Rut the plain fact
Is, as he views tbo case, that the high
pries utterly defeats the long rang*
plan to make the farmers of the coun
try prosperous, because It Involves too
much expense to the federal govern
ment, too much burden on the con
sumer, and too much cheating by tbe
.fanners. He Is not going to say this
last publicly. In all probability, but
reports which have been pouring In
tbe government In the last few months
leave little doubt a* to the facts on
■ -f • - i in i ^ f~ ’ ■ -
□ns one posse.
J-ifJhe price wore allowed to drop to
somewhere near world prices, he be
eves, then the government restrictive
ensures would still amount to Income
Insurance for tbe wheat farmers, but
not In amount such al they have grad
ually grown to believe was their due.
Wallace bee m v Idee of abandoning
payments for crop curtailment or any
thing of that sort Ho Is not singling
out wheat because be thinks tbe Agrt-
*t Capitol HI1L
Actually, however, Mr. Wallace hat
given the tip a great many times that
this country cannot expect to keep ex
porting wheat. Hjb has never changed
his mind about it So that this wil/
be merely a logical development
Ov&ruled by President
President Roosevelt has overruled
Federal Trade Commissioner Landis on
a point of modification of the securi
ties act so Important that I>andls de
clared heatedly to the President that
If this amendment were adopted tbe
whole legislation might as well be re
pealed. '
The amendment reduced the period
responsibility on the part of bank-
era or othera bringing out a security
Issue from ten years to five. Those
fighting for the amendment tried to
reduce the period to one year, but final
ly compromised on five.
In a nutshell the amendment meant
thla: If Smith and* Co. -sell a lot of
bonds on a prospectus which turns out
to be very misleading, or wrong, under
the present law (passed Id 1983 and
written by Landts and Ben - Cohen, both
fair-hatred brain trusters of the Felix
Frankfurter school), the person buy
lug that security and losing money la
entitled to recover hlr lota from the
seller. The time limitation on this
right of recovery la now ten years
Tbe amendment would merely reduce
It to five years
The point made by advocates of the
amendment la that sales of a security
may be made on the basis of the pros
pectus for the first year, but after that
the security is sold purely on the basis
of how the company is doing* what Its
earnings have been, what its prospects
are for the future, and consequently
what Its dividends may be expected
to be.
No one, they contended, ever both
ers to look up a prospectus after a
company has been operating long
enough to give a fair Idea of what the
actual situation la Therefore, they
contend. If the price of the security
declines within a fair period of time,
the buyer. If he feels that he waa mis
led Into buying It by a false prospec-
tua advertisement, sales talk, or other
Inducement, has the right to sell the
security, take his loss, and then look
to the issuing company, or the banker*
for relmbtirsement.
Question of Time
The whole point of the amendment
is that the buyer should be compelled
to analyze the situation within a res
sonable period, and then. If he thinks
be was swindled, force the company or
Its bankers to pay him back. But tl\ls
period, they Insist, should not be an
long aa ten year*—Certainly five
would be long enough. Some of the
manufacturers and other business men
fighting for the amendment thought
one year would be long enough. Some
of tbe legislators thought two year*
would be about right But even the
President agreed that five years would
be long enough.
The meet Important point In the
minds of those advocating the amend
ment Is that tbe ten-year provision not
only leaves an ax hanging for too long
a period over business enterprises
which have sold securities, add the
bankers that marketed them, but that
It would actually prevent |he settle
ment of estate*
If the amendment Is accepted in
as It probably will be now
that the PresiilMil hal approv
buyers-of securities would do
look Into the situation during tho fifth
yeer of that security's life. If they
suspect that the price Is befog held
up artificially they had better sell. If
they find the price Is below whaf the)
paid, they css then Jasmine, the pro*
pectus and advertisements to see If they
think they have a suit Ip a way, Els
a statute of tisaltation.
THZ COLKMAX LAMP * 8TOVS COMPANY
Fact of History
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TELLS HOW SHE TOM
4 IIS. OFF l|R
7 IIS. OFF WAIST
In 40 days by tsking Knuchsn Salts,
Mrs. Halga Blanch or New York City
reduced Soft lbs.—took 4 inches off hips.
8 inches off bust and
7H inches off waist.
She writes: "I haven’t
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To get rid of double
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ugly rolls of fst on
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SAFELY ana without
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One jar lasts 4 weeks and costs but
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Maks sure you get Kruachen because
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Biliousness
dno Aj
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Best
'
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■♦.I
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