Indianapolis Times, Volume 40, Number 267, Indianapolis, Marion County, 28 March 1929 — Page 16

PAGE 16

MONEY WORLD IS SICK, SAYS NOTED EXPERT British Financial Wizard 'Says Earth Faces Great Finar* jI Crisis. BY HENRY T. RUSSELL Initcd Press Staff Correspondent LONDON, March 28.—The world to suffering from a “financial sickness” of which the recent rises in bank rates in various countries are .symptomatic warnings, Sir George Paish, noted financial wizard, said in an interview today. The white-haired, blue-eyed genius of finance dramatically elaborated on his recent speech at Manchester in which he said the world * was facing a great financial crisis, and added that 20 per cent call money on the New York Stock Exchange possibly was a forerunner of the coming climax, i “However,” he said soberly, “I am I no prophet. I am simply an interested observer and I simply called attention to the situation which I have been watching develop for some time.” “Folly” of Tariff Barriers Paish said the world generally was over-borrowing, tcith the possible exception of South America. He emphasized the “utter folly” of various nations in erecting tariff barriers and thus preventing reimbursement of mutual debts. “It is of very great moment,” he continued, “that the situation should be surveyed not only by bankers and business men, but by statesmen in order that a collected effort should be made to avert a still more dangerous position than now exists. “Since 1914, America has supplied the world, as well as herself, with an immense amount of credit. But for this credit trade could not have recovered in the way that it has. The iiet result of this credit, however, has been to place the whole world in debt to the United States and to give America the power to draw gold from other countries such as it never had in pre-war days when America was the debtor and not the large creditor nation. Power to Lend Smaller “High money rates in America since the middle of last year have been a notification to the world in general that America’s power to lend has become much smaller and it is obvious that still higher rates **“ now current in America I the efforts of American bankers Ijf-estrict credit already granted in mg states themselves, imply an al|£9st total cessation of American .jfCdit to outside countries. g “Moreover, the high rate of interest can not fail to affect adversely business. If it is borne In mind that the great quantity of granted by the United States .until the present time has oeen

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mainly responsible for maintenance of the world prices of commodities at their present level, it is obvious that restriction of this credit must bring about a general fall in prices, with consequences to producers throughout the world which can not easily be measured.”

Gone, but Not Forgotten

Automobiles reported to the polic as stolen belong to: H. E. McWhinney, Louisville, Kv., Buick coupe. 351-300 Kentucky, from near Severin. Oscar L. Smith, 839 Lincoln street, Ford touring, 96-545, from Georgia street and Capitol avenue. Michael H. Smith, Beech Grove, rural route 5, box 302 K., Ford coupe, 98-582, from Talbott avenue and Michigan street. Frank L. Foley, 124 North Euclid avenue, Ford roadster, 54-023, from Senate avenue and Sixteenth street.

BACK HOME AGAIN

Stolen automobiles recovered by the police belong to: Paul D. Bevault, 3144 Hovey street, oldsmobile touring, found at New York street and White River. Reo Sedan, no license, no registration card, found at 365 South Meridian street.

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FINGER PRINTS IN U. S. BUREAU [TOTAL 1,500.00 Serves as Identification Clearing House; Curbs Crime. Bii Time% Special WASHINGTON, March 28.—Fin-. ger prints of more than 1,500,000 persons are now on file in the identification bureau, United States department of Justice and nearly 400 j prints a day, or 10,000 in all, were ; sent to the bureau during February. The work of the bureau as an | identification clearing - house is j growing so fast that money to emi ploy ten additional finger prfnt exl aminers has been granted by congress and about 80 persons are now employed exclusively in this work. The bureau, in co-operation with the police departments of virtually every large city in this country and Canada, is striving to make possible j quick identification of the fingerprints of persons with criminal j records. i Nearly all persons arrested for

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felonies in the last five years have finger-print records in the department of justice files. Prints of all such persons are sent in monthly by chiefs of police. “There is a feeling in the underworld that they can not get away, brought about largely by the establishment of the indentification bureau,” said J. Edgar Hoover, head of the bureau of identification. The bureau is now making an attempt to get fingerprints of international criminals from their recognized hiding places in other countries, such as Mexico, Canada and France, Hoover said. The bureau also has the co-operation of Scotland Yard, England’s central police agency. Aliases do no good, he said. A Georgian, arrested for a serious offense, claimed to have no past record, argued his own case and made an excellent impression. When his prints were sent to Washington, however, it was disclosed he had a

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previous conviction and he was sent to prison for five years. New York sent in 1,533 prints during February. Other cities with large numbers were Cleveland, 0., with 443; Memphis, 346: El Paso, 205, and San Francisco, 165.

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