Historical Newspapers of South Carolina

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f \ I i ' i i News Review of Current Events the World Over New “Temporary" Cold Standard Adopted — Russia Accused of Using Spanish War to Rouse Interna tional Discord—Belgium Abandons Alliances. By EDWARD W. PICKARD C Wetter* Newspaper Union. a new gold standard, a of doing business which Secretary Morgenthau “I T IS * way has never been tried before,” was Secretary Morgenthau’s character ization of the agree ment just entered into by the United States, Great Brit- a i n and France, whereby, subject to 24 - hours’ cancel lation, they will ex change gold for each other’s currencies. Financiers, econo mists and business men were taken by surprise by the move and immedi ately gave it close study. Some were disposed to label the maneuver “po litical expediency,’’ but experts gen erally said it was a logical step in the sequence of monetary events but not positively in the direction of stabilization. The new plan, Mr. Morgenthau said, differs from the old gold stand ard in that it will permit the export or earmarking of gold only to and between governments instead of private business institutions and traders. “The door is wide open,” said Mr. Morgenthau. “We’re not going out drumming up business, but we’U welcome all other countries which want to participate.” According to the Treasury depart ment, the United States alone will announce a selling price for gold. France and England will keep their aelUng prices secret, though there will be a free flow of gold between the stabilisation funds of the three It that Greet Britain newer in this new put H: left a CIGURES made public by the 1 American Navy Department show that since July 1 last every great naval power except the United States has increased the number and tonnage of its war vessels. In the 2V& months from July 1 to September 15, the United States re duced the number of its ships from 324 vessels totaling 1,080,715 tons to 306 vessels, totaling 1,062,875 tons. Great Britain increased ships from 37 to 309 and tonnage from 1,224,329, to 1,232,854. Japan increased ships from 213 to 217 and tonnage from 772,797 to 776,397. France increased ships from 178 to 187 and tonnage from 558,452 to 571,734. Italy increased ships from 191 to 195 and tonnage from 403,865 to 406,- 333. Germany increased ships from forty-nine to fifty-three and tonnage from 113,708 to 125,458. The British foreign office an nounced that France and Italy had agreed to sign that protocol of the London naval treaty forbidding the use of submarines except under strict limitations. D ELGIUM. which since the close 1J of the World war has bean tied tight to France by a military al liance. has decided to drop that and all similar alliances and to rely for her safety on strict neu trality and a larger army. King Leopold so informed the cab inet. tolling the min isters that Ger many’s reoccupation of the Rhineland More the great be said dra Lamas of Argentina, of the assembly, even naked If ha might not raise the question wheth er “civilisation Is on the verge of a final breakup.” The question of reforming the league covenant provoked a bittar controversy on whether nonmember states should be consulted. Russia was understood to be anxious par ticularly to bar German influence and achieved a minor triumph since n j definite action to solicit nonmem ber co-operation was taken. A com mittee of twenty-eight was named to study reform proposals. The assembly approved reports of its economic and disarmament com mittees. The economic report carried a British proposal^ to create a commission to study accessibility of raw materials. The United States and other nonmembfcrs would be in vited to participate. The report of the disarmament committee ap proved the reconvening of the world disarmament conference at an early date. l/'URT SCHUSCHNIGG, chancel- AV lor of Austria, is taking his place among the European dictators. In order to consolidate military power in his own hands, he decreed the dissolu tion of all private armies, this being aimed especially at the Fascist Heim- wehr headed b y Prince Ernst von Starhemberg. The prince directed his followers to obey the edict, and Major Fey, Star hem berg's Starhi-mber# rlV * 1 <0r Btarbemberg. the Heimwehr. called on the elements recogniz ing his leadership to preserve or der. The chancellor’s order also affect ed his own Catholic storm All the private troops were ordered consolidated with the Austrtnn state militia. This would Increese trie’s official armed forces to sUrk agi ovirr Of the the Yen Of eur eBy. M LTHOfUTY of the in hr killing of The Areb to re- to the clart a lor a by English or French Oboerwrs In Europe ore vincod that the Soviet does not expect the powers to sgroe to any such blockade as is sug gested. but is chiefly interested in stirring up discord among the na tions. British Foreign Minister Anthony Eden, after hearing of Lord Ply mouth’s reply, made a speech at Sheffield in which he pledged Great Britain's unwavering support to the policy of nonintervention in Spain He declared the government was determined to "confine that tragedy within the boundaries of that coun try.” Leaders of the Fascists were re ported to have planned a steady, steam - roller advance on Madrid, and this offensive was already under way. The defenders of the capital were hastily building fortifications in the suburbs and surrounding the city with trenches. In Oviedo the dynamite - armed force of loyalist miners was still battling with the garrison and rebel troops sent to the rescue were about to enter the city. \/l AURICE THOREZ, French Communist leader, made a speech in Strasbourg that is causing a lot of trouble. He was charged w T ith deliberately insulting Adolf Hit ler, and the Berlin government en tered formal protest. The official Nazi organ, Der Angriff, says the speech was an attempt to precipi tate war between France and Ger many, and also that it was an at tempt “to overthrow the German reich and to achieve the definite bolshevization of France for the benefit of the Soviet Communist in- temationale.” The French rightist newspapers declare the Thorez incident was part of the Russian Communist scheme to throw France against Germany so that Russia will not be left to for the royal the la vote on a waterfront strike The maritime commiaalon peremptorily demanded that Pacific coast porta bo kept while it sent an investigator to San Francisco to discuss the conditions which have long threatened to bring on industrial warfare. In telegrams to President Frank lin Roosevelt and the commission, the committee said the commission had caused “great unrest" among the workers through its participa tion in negotiations between ship owners and dock and shipboard em ployees. The seven unions, claiming s membership of nearly 37,000 work ers, are the International Long shoremen’s association, the Ameri can Radio Telegraphists’ associa tion, the Marine Engineers’ Benefi cial association, the Masters, Mates and Pilots of America, the Sailors’ Union of the Pacific, Marine Cooks and Stewards, and the Marine Fire men. Oilers, Watertenders and Wip ers’ association. ita CENATOR WILLIAM E. BORAH ^ of Idaho, whose attitude in the Presidential campaign is a matter of great interest to all parties, has declared he would confine his attention to state matters; but then, being irked by some criticism from Republicans he went further and said he was “going after the Republican party.” The veteran said he had been accused of net being regular. “Well, what is a regular?” he asked. ”A regular is a man with no Ideas, who waits for someone to tell him what to do. My idee of being regular is in doing whet you believe to be right in the mteroeU of the Senator Borah According to e Hebrew of Jerusalem, the Arabs have ar ranged tor backing by Italian Faa> cuts tor their aspirations. Also, the Moslem authority administering Is lamic church property is reported to be prepared to sell Catholics a Christian holy place on Mount Zion. D ASING its conclusions on a study u covering the period from 1900 to 1935. the National Industrial Con ference board finds that there is no evidence to support the theory that the burden of private debt upon business is excessive. Statements that private debt is “absorbing wealth” or is showing a changed and unfavorable relationship to wealth, or that the depression was precipitated by an excessive debt burden are without factual basis, the board reported. Interest charges have not outrun the capacity to pay them, according to the board’s study, which showed that the rates of growth of private long - term debt and of interest charges from 1900 to 1935 were simi lar to those of national wealth and national income. Since 1930 private long term debt has tended to decline. Only the pub lic utilities have increased the amount of their outstanding debt. But the board points out that no debt problem exists in the public utility field as a whole and that ex pansion of the electric light and power utilities has been on a sound basis, with the industry in a safe position to meet interest charges. The steam railroads, taken as a whole, are neither overcapitalized nor overburdened with debt, the board concludes. f^VNE of the worst typhoons In the ^ history pf the Philippines swept dm Luzon Island, killing scores National Topics Interpreted by William Bruckart Nkttoaal Pr«M BalMto* Wtuhlncton. Ik C. Washington.—Some time ago I re ported in these columns that Mr. <Roosevelt had sent 5tx Men, a commission to Six VUwb Europe to study consumer co - op eratives. I said at that time that the commission was likely to find itself unable to reach an agreement concerning a report to the President on the consumer co-operatives and that in the event they were able to reach an agreement, the publica tion of their findings would be de layed until after the election. The commission has returned to this country and has gone through its labor pains to the end that there are six different views, an opinion by each of the six different com missioners concerning the value or lack of it that consumer co-opera tives have. But it is important to know de velopments concerning this commis sion because it appears that by en gaging in an investigation of the consumer co-operatives, the Presi dent has awakened a number of different interests in our own coun try to the fact that there are soma kinds of co-operatives which arc not helpful. The fuss stirred up by failure of the six commissioners to reach an agreement makes it seem unlikely that there will be any una nimity of opinion in congress if and when Mr. Roosevelt attempts to gain action in a legislative way to encourage creation of these co-op- ere lives. In other words, if a move is made in congress, or if the Chief Executive attempts to force con gress to enact legislation favorablo to consumer co-operatives, we ere likely to see a vigorous legislative bat tie Personally. 1 hops that hap pens Unless that end materializes, there Is every likelihood that the » has not scesM will be The Mind Meter HtNOCIUOR Another Pha— I s*n m e * There is still another phase of this general proposition of consumer co operatives that ought to be of in terest to every producer in this country. Let us assume, for ex ample, that they were perfect in organization and management; that they prospered and expanded in numbers and that they were ren dering genuine service to the peo ple. If that condition were to obtain, does it not occur as a natural ques tion that with so much strength, the consumer co-operatives would eventually establish a class align ment between producer and con sumer? It seems to me that the natural course of events would lead to this end, and if it did lead to this end I am afraid that because there are more consumers than there are producers, the producers would get the dirty end of the deal. They would be short-changed be cause they would be outnumbered. This phase seems the more im portant because the food stores, food fields generally, are the sectors in which these consumer co-operatives operate best. As a matter of fact, the food field is the most fertile field for experiments anyway and here is quite apparently another experi ment that has fastened, or is fasten ing itself as a parasite upon the agricultural industry of this country. I know there has been some ar gument that the consumer co-op eratives are the answer to the effort to destroy chain stores. That is not so. Chain stores in foreign countries have licked the co-operatives. They have virtually destroyed them where the co-operatives attempted to drive the chain stores out of but ness It becomes important then < that while tbs United many chain stores. It 9 and never will have ns a stores as It has tod ere la a threat la ft ■ ■ ■« P w ■ ■■ ■ ■ t to a large city or to 1 ef small towns end The Famous Men Test In the following test there are ten problems. In each one a man’s name is given, followed by the names of four professions, vo cations or avocations. Cross out the particular occupation or pur suit in which the man is or was most famous. 1. Arthur Brisbane—capitalist, artist, editor, composer. 2. Vernon Gomez — explorer, baseball player, physician, pi anist. 3. Benjamin N. Cardozo—reli gious teacher, artist, jurist, financier. 4. Sinclair Lewis — composer, socialist, author, lawyer. 5. Nellie Melba—society leader, circus performer, soprano, news paper woman. 6. Franchot Tone — composer, actor, artist, lawyer. 7. Fritz Kreisler—brewer, foot ball coach, violinist, pianist. 8. Walter Hampden—financier, poet, inventor, actor. 9. Macdonald Smith—diplomat, golfer, football coach, banker. 10. James Whitcomb Riley — statesman, railroad builder, poet, pianist. Answers 1. Editor. 8. Actor. 2. Baseball player. 7. Violinist 3. Jurist. 8. Actor. 4. Author. 9. Golfer. 5. Soprano. 10. Poet. Now Only a Penny a Tablet for Fast HEADACHE RELIEF Cel Qukk-DissoMng Boyer AtpiHn Now Without Thought of Price As I MeeemOt hp •••ek • ■•••••• If emk»ei< that have to to aay. the! I a this to ito tracks and that Uwaa i to mi aflktal way tor ew this aart af thing sfinuld they ara vac at to additiaa The result la they have private and or ta gain tor bona and prtvtlegee aot others The result la an abvtoua alignment af panplaa into fresh fac- uooa. the tendencies of which are • s s Yt may seem a far cry ■ farm field la tha price af aa a It may be news to many that era hava consumer co-opara- lives In this coun- TugwelFa try and that these Activities agencies or units already ara being fostered by tha United States gov ernment. I refer to the activities of Professor Rexford Guy Tugweil, who haa installed in the resettlement col onies various and sundry consumer co-operatives. It may be news as well to many to learn that Mr. Tug- well has spent almost two million dollars in financing these co - op eratives to get them started. And the third bit of news respecting this circumstance is that a book written by James Peter Warbasse is being used as a guide for the crea tion of these consumer co-operatives in federal resettlement projects. Now, the name of James Peter Warbasse may not seem important. Many persons have written books, but there are not many volumes ex tant in the United States that ad vocate changes in the form of our government. Yet, there are proposi tions in the volume to which I have referred which do just that and these books, as I have said, are serving more or less as a guide for the people whom Professor Tugweil has “resettled.” With this/brief presentation of the facts, it seems to me it does not take much imagination to see the basis upon which the promoters of the consumer co - operatives are building their structure in this coun try. Taking these facts into con sideration with the information brought back by those who made the study for ftfr. Roosevelt, it Is made to appear at least that a for eign link is somehow or other being forged, and that link, I behave. Is designed as a fundamental unit In tha general radical there to a rate the fact structure related. There to aa coming to the price ef beer. Either the working man and others who like beer are going to pay more for It, or else they will get s smaller glass The answer Is that Ingredients entering Into the production of beer have increased In price to such an extent that, according to official figures, the brewers are now paying about $1.50 more for the things that enter into the production of one barrel of beer than they did when the sale of beer again was legalized. This circumstance is significant for the reason that it shows conclu sively how tampering with the cur rency upsets the general balance within our economic structure and results sometimes in displacement of markets and sometimes in dimi nution of sales. In the case of beer it probably will result in a dis placement of markets, rather than any decline in the amount of beer consumed, despite the fact that the ultimate consumer will be paying more. This condition is of interest to agriculture generally because it has always been contended by the pro ponents of open sale of beer and whiskey that a substantial new out let for farm crops was made avail able by the repeal of the Eighteenth amendment. Rather, it was a res toration of an old outlet that existed before the Eighteenth amendment was adopted. But there has been a combination of circumstances, large ly the result of governmental mess ing, that has mitigated against the farmers obtaining full benefit from repeal. These may be enumerated as follows: Devaluation of the dollar, crop restriction under the Agricul tural Adjustment act, higher taxes, and a tendency on the part of tha Roosevelt administration to increase imports from aoroad. In the case of the devaluation of tha currency, tkf main purpoae, as announced by tha Roosevelt admin istration. was to increase prices It haa had that affect and has made tha far tha Imps they tod they ASPIRIN far vwtaaffy I# a takkrt at any drag atara to the U. 1* Twafafi daasa saw, toe fiat packat tin, far ZWI Try tkw saw |— faality a# tha raal Bayer arurta earn artkeet thaagfit ef pnra. Da this eapar tally if yea want the mmm ef qawk relief Itsm a bad haadarka. aeanta ar mtmt K an Hamatohar, BAYER A N warts fast. SiaU dl above ) And aak far it by He fall aaeaa — BAYER ASPIRIN — —< by tba CTGeTlftnazt Uma yon aaat rtittf MB 1 cm amvn at na A Genuine Smile Smile it you mean it. Otherwise look sincere. It is more becoming. AT LAST ft COIftl RELIEF —THAT ALSO SFEEIS RECOVERY Remember the nemel It’s FOLEY'S HONEY k TARI Double-ecting- One eet of ingredient* quieklyaoothee.relieve* tickling, hacking.oougb- ing . . . coate irritated throat linings to keep S ou from coughing. Another set reaches the ronchial tubes, loosens phlegm, helps break up » cough due to a cold and speeds recover v. For quick relief and speeded-up recovery, ask your druggist for doubfe-acting FOLEY’S HONEY <fc TAIL Ideal for children, too. Get a bottle today. SMALL SIZE 60c recegnlfed Remedy for Rhcumetlc* end Ncurttli ruKeren. A perfect Blood Purifier. Mekct thin Blood Rich end Healthy. Build* Strength and Vigor. Alway* Effective . ■ Why luffcr? AT ALL GOOD DRUG STORES WEALTH AND HEALTH JWi