Indianapolis Times, Volume 44, Number 230, Indianapolis, Marion County, 3 February 1933 — Page 13

Second Section

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Sinclair Lewis Not only has Sinclair Lewis, American novelist, written anew novel, but anew biography of the author has just been published. Lewis’ new novel is “Ann Vickers,” and telLs the story of a .school teacher in a small Illinois town who is disillusioned as superintendent of a prison. The biography of the author is by Carl Van Doren. n u a BY WALTER I). HICKMAN TF I was called upon to record one -*• of my most exciting and pleasant experiences in the theater of fiction, I would have to state it was the reading of “Mutiny on the Bounty,” by Charles NordhofT and James Norman Hall. Having recently completed reading this remarkable story of munity on an English ship way back around 1788, the charm of the excitement of the story still lingers. Here is not dry stuffy sea history but a yarn as dashing, as strong and as colorful as anything that Sabatini has ever written. This amazing adventure of Roger Byam is one that I know Richard Halliburton would love to have experienced. In all of the 396 pages in “Mutiny on the Bounty,” no reader will find any excuse for not reading every word and that is a verdict that mighty few modern novels deserve. You meet Roger Byam in the quiet and well ordered English home of his mother in England as he was approaching manhood. His father was respected by the highest officers in the admirality in England as the story opens in 1787. Even lads in those days dreamed of adventure in thg South Sea Islands and many of them thought of romance on the island of Tahiti * with an Indian maid. And so Roger broke out with great excitement when Captain William Bligh. in charge of the Bounty, offered to take him as a midshipman to faraway Tahiti to get breadfruit trees so that they may be raised on other lands in an effort to provide cheap food. tt tt a The authors of “Mutiny on the Bounty” have done a magnificent job of painting the men who made up the crew of the Bounty. The chapters devoted to the slow progress of the Bounty under sail to Tahiti are so beautifully and humanly written that I had the feeling I was a member of the crew. Here is romantic realism if it ever existed and that quality is to be found in every page as Roger Byam learns his lessons of discipline of the sea. And when the crew landed in Tahiti, then only frequently visited by white men, you discover the real character of the Indians as well as the glorious beauty of such a carefree life. Never have I encountered better discriptive writing than the chapters devoted to the mutiny on the ship on the way back to England. Roger was loyal to his captain, but the rebellious men kept him and several other innocent men on the Bounty. Then follows years and years of exile on Tahiti. There Roger married a lovely native girl. Then years of bliss on the island. Birth of their daughter and then the arrival of an English ship in search of all those who remained on the Bounty. Then the torture of ship prison, the ship wreck on the way to England. and court-martial and the conviction of Roger and many others. And then—Well, by all means if you love a grand story, then read “Mutiny on the Bounty" as published by Little, Brown and Company and sells for $2.50. tt u a Charles Scribner’s Sons announces they will publish in March in one volume three novels by John Galsworthy who died this week. The novels are “The Dark Flower,” “Saint's Progress” and “Beyond.” The publishers state this book of 700 pages contains "the three novels that established John Galsworthy as a master interpreter of human impulses and emotions." His latest novel is "Flowering Wilderness.” jet a a What are they reading all over the country in fiction? Brentano's announces the following six best sellers: “Ann Vickers," by Sinclair Lewis; “Never Ask the End." bv Isabel M. Paterson: "The Kennel Murder Case." by S. S. Van Dine: “The Provincial Lady in London.” by E. M. Delafield: "The Last Adam." by James Gould Cozzens, and Murder at Monte Carlo," by E. Phillips Oppenhctm. a a a “Hizzoner. the Mayor." is certainly getting a lot of attention these days on the screen and in books. Joel Sayre, who wrote “Rackety Rax," a story of a glorified collegiate gangster, has just finished “Hizzoner. the Mayor." It is another view of the American merry-go-round. John Day, the publisher, announces.

Fall Lrasod Wire Serrfr* of the United Prcs Association

SUBCABINET IS LINED UP FOR ROOSEVELT AID Younger Leaders Will Play Important Part in New Administration. SUBSTITUTES NEEDED Full Array of Assistants to Be Announced on March 2 or 3. BY RAY TUCKER Tim>s Staff Writer WARM SPRINGS, Feb. 3.—A subcabinet of under and assistant secretaries stronger in some respects than the cabinet itself was forecast for the Roosevelt administration today, as fairly definite indications of some of the men who will man executive departments emanated from the President-elect's conferences with political advisers. While Mr. Roosevelt expects to study these pasts on his yachting trip next week, and fill them after he returns to New York, it is understood he wants active young men for most of the assistancy jobs. From his own experience as assistant secretary of the navy during the World war, he learned the necessity of substitutes who can carry on in emergencies. Need Assistants on Jobs This need will be great during the early period of his administration, because .several cabinet chiefs, including the secretaries of state, treasury and commerce, will -be involved deeply in negotiations concerning settlement of the war debts, and reviving foreign and domestic trade. Mr. Roosevelt expects to announce a full array of assistants when he makes public his cabinet which, he said, will be the night of March 2 or the morning of March 3. A tentative list of possible under and assistant secretaries before him follows: , State —Sumner Welles, Professor Raymond I. Moley, Breckenridge Long. Treasury—Howard Bruce of Maryland. Director of the Budget—Joseph V. McKee of New York, Walker D. Hines of New York, Swager Sherley of Kentucky. War—Arthur O'Brien of District of Columbia; Vncent Astor of New York. Others Are Listed Navy—Vincent Dahlman, Springfield dll.) publisher; Cornelius Vanderbilt Whitney of New York. Solicitor-General Felix Frankfurter of Boston, Arthur Mullen of Nebraska. Commerce Gene Vidal and Steadman Acker of Birmingham for assistant in charge of aeronautics. Internal Revenue —Mark Eisner of New York; Edward Pou Jr. of North Carolina, Daniel C. Roper of North Carolina, W. W. Durbin of Ohio, Mr. Sherley. who now is in Washington breaking ground for government reorganization and economy, is sending the President-elect a list of positions to be filled by March 6 on such agencies as the R. F. C., the federal power commission, the radio commission, and similar independent bodies. From Mr. Roasevelt's talk, it is clear there will be a general, though gradual, cleaning out of the present personnel on these commissions.

WORLD WAR NURSE IS CLAIMED BY DEATH Miss Hermina P. Wagner Served in Base Hospital in France. Funeral services for Miss Hermina P. Wagner, 51, an army nurse at base hospital No. 32, Contrexeville, Voges, France, during the World war, wil be held at 2, Saturday, in the Flanner & Buchanan mortuary. 25 West Fall Creek boulevard. Cremation will follow. Miss Wagner died Thursday at her home. 1433 North Pennsylvania street, Apt. 503, following a year’s illness. She served overseas eighteen months. Born in Louisville. Ky., she came to Indianapolis when a girl and received her training in the city hospital. She was supervisor for the Public Health Nursing Asscoiation, with which she had been connected for the last ten years. House Damaged by Water, Fire Unestimated loss from water damage was caused by a small fire early today in a waste room in the basement of the Mahon Paper Box Company, 320-24 West South street. Firemen estimated fire loss at S2O.

Roosevelt Plans Vast Job-Giving Project at Muscle Shoals

THE heart of the Muscle Shoals power and nitrate project as shown above was viewed this week by President-Elect Roosevelt. In the foreground are buildings of the power-generating plant, and the housings of the mighty turbines. Across the river stretches the sweep of Wilson dam. harnessing the Tennessee river's million horse power. Built during the World war to insure domestic production of nitrates needed for nutritions. Cost $150,000,000 of the taxpayers' money. Produced no nitrates until the end of the war. Virtually idle ever since. Now regarded as potential source of electric power than nitrates. Two congresses have passed bills for government operation of the plant. Presidents Coolidge Hoover vetoed them. The dam. largest in the world when built, spans the Tennessee river almost in the center of a quadrangle whose corners are Memphis, Birmingham, Chattanooga and Nashville. Total horse

The Indianapolis Times

LAND BECOMES MONEY; FRANCE RUINED

Paper Based on Real Estate Brings Financial Crash

This is the fourth of a series of articles in which Earl Sparling presents a highlight history of inflation. BY EARL SPARLING Times Staff Writer MONEY should be based on energy, not gold say the technocrats of 1933. Physiocrats rallied to a comparable idea in France in the 1790 s—they held that money could be based on land. The French Revolution began, of course, as a dry discussion of debts and taxes. The Grand Monarchy, with loan piled upon loan, was bankrupt. The States General, which had assembled last in 1610, was resurrected in 1789 because Louis XVI wanted to increase the already unbearable levies upon the people. The people discovered suddenly that each taxpayer could say “I am the State,” with the result that that they took that ever so Gallic “Oath of the Tennis Court.” Among the many things that happened subsequently, the people confiscated the vast and valuable lands accumulated through the centuries by the church. Which gave Lecouteulx de Canteleu his bright idea. He proposed to the newly formed constituent assembly that paper money be issued, guaranteed by and redeemable in these lands. The basic theory that a circulating money well could be issued against land had been knocking about Europe for a century, but here for the first time was a government equipped actually to pay out productive real estate on demand. tt tt tt THE idea caught on. The public debt totaled nearly 2.400 million livres and the national treasury was penniless. How could the new government square the books without some such recourse? Also, there was the desire to weld the people to the new government, to make its destiny their own. How better could that be accomplished than by giving them the physical benefits of the revolution? Necker, the finance minister, fought the plan bitterly and, when finally it was launched irrevocably, quit France, never to return. Mirabeau, one of the ablest of the new men in power, attacked the plan in assembly as “a nursery of tyranny, corruption and delusion—a veritable debauch of authority in delirium,” though later he shouted loudest in its favor. Finally in April, 1790, after more than a year of debate, 400,000,000 livres were issued and called assignats, secured by the pledge of productive real estate and bearing interest at 3 per cent. In a burst of patriotic ardor. Sarot solemnly offered. April 19, 1790, to prove the worth of the new money by selling his house, garden and furniture for it alone. Within four months, however, the government was in distress again, and the paper was at discount in trade. The cry arose which seems inevitable once inflation has started, “More money! We must issue more money.” Mirabeau talks no longer now of corruption and delusion. He takes

DAMAGE OF S9OO IS FLAMES Fires Take Toll in Double House and Apartment. Blaze believed to have originated ih the bathroom of an apartment above the pharmacy of S. E. Vigus at 1402 Hoyt avenue, caused damage of more than S3OO Thursday afternoon. Loss estimated at S6OO was caused by sparks from a burning flue in a double house at 3459-61 Carrollton avenue.

Fugitive From Law 15 Years Who Won Honor in Business World Gets Pardon

BY' MEADE MONROE United Press Staff Correspondent JEFFERSON CITY*, Mo.. Feb. 3.—Glenn Smeeman, escaped convict, who achieved success and honor, only to be exposed after fifteen years, has received a Missouri pardon wiping out the last mark of his criminal past. “I see no good purpose in putting you back in prison,” said Governor Guy B. Park, the new grey-haired Democratic Governor of Missouri, after hearing the Cleveland music dealer's case. Governor Park ordered a pardon issued Smeeman in connection with his flight seventeen years ago while under appeal

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power possible to develop at highwater stage, nearly a million. Never less than 100.000 horse power even at low water.

INDIANAPOLIS, FRIDAY, FEBRUARY 3, 1933

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the floor, Aug. 27, 1790, to declare, “We must accomplish what we have begun.” He argues that as -soon as the paper becomes too abundant it will be absorbed in rapid purchases of the national lands. He throws all caution aside and suggests that enough be issued to wipe out the national debt and that all the lands be immediately exposed for sale. tt a tt SAVARIN, cool, logical, points out that depreciation of the first issue already has set in and warns that if anew issue is made, the value of the paper in specie will drop 30 per cent. To which the Abbey Gouttes replies, “It will supply a circulat-

Banner Attendance Forecast for City Motor Show; Doors to Open Saturday

Finishing touches were being added today to the Manufacturers’ building at the state fairground in preparation for the opening of Indianapolis’ twenty-second annual automobile show at 10 Saturday morning. The show will continue until Feb. 10. Decorations already are in place and the products of the nation’s motor manufacturers are being arranged on the central display floor. Heavy attendance at New York and Chicago shows, which are

bond after being sentenced to two years in prison on an auto theft charge. Refusal to give a woman SI,OOO caused his betrayal to the authorities, Smeeman told Governor Park without revealing the woman's name. J. V. Allison, St. Louis, prosecuting witness against Smeeman in 19i5, wrote Governor Park urging Smeeman be freed because of his record in recent years. The pardon Thursday, with the commutation issued early this week in Colorado where he escaped from prison fifteen years ago, evened Smeeman’s score with the law.

Roosevelt, on his visit, was accompanied by Senator Norris, author of the two vetoed bills for government operation, other sen-

Assignat issued under law of January, 1792. Left, old sketch of Mirabeau. Above, eighteenth century cartoon captioned, “Credit is dead. The poor debtors have killed it.”

ing material which will protect the public morals from corruption.” Talleyrand speaks in opposition. So does Dupont. Says Chabroux, “The earth is the source of value. You can not distribute the earth in a circulating value, but this paper becomes representative of that value.” Whereupon Bostidoux coins a phrase which fits in history beside today’s “electric dollar”—“un papier terre,” he called the new money, “a paper earth.” The commercial cities become agitated. Twenty-five oppose additional issue; seven are for. Mirabeau returns to the floor and points out that the paper is based on the most real of all property, the source of all production, and

criterions each year of interest in automotive products, has led local automobile dealers to expect that Indianapolis residents, always motor-minded, will turn out in customary numbers. This y-~-there are no other shows of the type during the Indianapolis presentation. Stiff competition within the industry and the realization that the public must be wooed adroitly before sales can be made under present conditions have resulted in

“Your most unforgivable offense was not to tell your wife everything about your past history,” Governor Park told Smeeman. Mrs. omeeraan, a Cleveland society girl married him a year ago. She accompanied him here from Colorado. While there she attempted suicide when it happened that he might be required to complete his prison term. “I certainly appreciate Allison’s action in pleading for me,” Smeeman said. "More than anything else I want to return to Cleveland and get back to work. About sev-enty-five persons are dependent on the business for their livelihood.”

ators, members of federal power authorities, and other power experts. President-Elect Roosevelt Thurs-

that other nations have given only a vague claim to the entire nation, adding, “I would rather have a mortgage on a garden than on a kingdom.” So on Sept. 29, 1790, by a vote of 508 to 423, anew issue of 800,000,000 livres is authorized, with a solemn pledge that the money will be burned as fast as it is paid in for the ecclesiastical lands and that no more v/ill be printed. In a short time the treasury had received 160,000,000 livres back from the people, but instead of destroying it reissued 100,000,000 in small notes. And on June 19, 1791, this time “in an ominous silence.” the assembly voted to issue 600,000,000 livres more. tt a tt PRICES soared. The paper money depreciated another 10 per cent. People cried for more money. On Dec. 17, 1791, an additional 300,000,000 was issued—making twenty-one billions in all. The issues followed so rapidly now that it is useless to try to keep track. By September, 1793, more than 45’i billion livres were in circulation. An old depreciation table prepared in Paris in 1797 shows the

1933 models of all makes offering greater values than in any previous year, local dealers say. All three of the Indianapolismade cars, Marmcn, Stutz, and Duesenberg, will be represented among the exhibits, show officials said. Suburban day, will be observed Sunday, with emphasis being laid on attendance by out-of-town motorists. The show will be open daily from 10 a. m. until 10:30 p. m., until the final showing at 10 next Friday night. Included in the list of exhibitors are Chrysler, Willys, Dodge, Franklin, Plymouth, DeSoto, Pierce-Arrow, Reo, Rockne, Euick, Oldsmobile, Pontiac, Chevrolet, Studebaker, Marmon, Stutz. Continental, Graham. Lincoln, Nash, Essex, Hudson, Austin. Packard, Auburn, Duesenberg, Cadillac, and La Salle. RIGHTS LEAGUE ELECTS Crawfordsville' Mayor Heads Group of Indiana Cities’ Officials. Election of Mayor Thomas L. Cooksey, Crawfordsville. as president, featured the annual meeting of the Municipal Rights League of Indiana Thursday at the Claypcol. Other officers named were Mayor William P. Dentlinger. Connersville, vice-president; Mayor Clifford Crawford, Frankfort, treasurer, and Jap Jones, Martinsville, secretary.

day announced a gigantic experiment at the Shoals to provide 200,000 jobs, one for imperial de-

Second Section

Entered as Second-Class Matter at I’oatolTicc, Indianapolis

progressive depreciation of the assignat. On Aug. 31. 1789. 24.4 livres of paper were equal to one gold louis. By Dec. 29 that year it required 25.1 livres in paper to get a gold louis. On June 28, 1793, the exchange figure was 72. On September 15, 1735, it had jumped to 1.145. On June 5. 1793. it took 17.950 livres of paper to buy what 24.4 livres of gold would buy. A few prices will show what this meant. A pound of sugar cost 500 livres; a bar of soap, 230 livres; candles. 140 livres each; a carriage drive. 600 livres. A man who borrowed 10,000 livres in 1790 could pay it off in 1796 with 35 livres in specie. The German historian, Von Sybel, writes: "Before the end of the year 1795 the paper money was almost exclusively in the hands of the working classes, employes and men of sm"! 1 means, whose property was not la.’ge enctrh to invest in stores of goods or national lands. “The financiers and men of large means, though they suffered terribly, were shrewd enough to put much of their property into objects of permanent value. The working classes had no such foresight, or skill or means. After the first collapse came the cries of the starving.” tt tt a UNABLE to do profitable business in such a rapidly changing money, the market women of Paris marched on the Assembly and made an appeal famous among economists, that "laws should be passed making paper as good as gold.” The assembly tried in every way possible. In April, 1733, a forced loan of a billion livres was levied upon the rich. In ’July that year the estates of the nobles were confiscated, and these lands, estimated at three billion livres, were placed also behind the paper money to make it more valuable. In 1793 six years in prison was made the penalty for selling gold at more than its nominal value in paper. Six months later selling assignats at less than face value was made worth twenty years in prison. Two years later the guillotine was provided for any Frenchman who made investments in a foreign country. In October, 1795. anew government was established, the Directory. It tried to restore order in February, 1796, by issuing anew kind of paper money, called mandats, and secured only by choice public lands. One mandat was made worth thirty assignats. The mandats immediately depreciated to 30 per cent of face value, then fell to 15 per cent, finally to 5 per cent. On July 16, 1796, the inevitable blow fell; the Directory decreed that all paper could be accepted at its real value, which meant at nothing. The people ceased even to compute the depreciation after that. When Bonaparte took the consulship. the largest loan available in the land would not meet the governments expenses for a single day. Next: Mr. Sparling will write of inflation during the American Revolutionary period.

COMMUNITY FUND IS SET Thirteenth Annual Session to Be Held Feb. 23. The thirteenth annual meeting of the Indianapolis Community Fund will be held the night of Feb. 23 in the Claypool, with Governor Paul V. McNutt as the principal speaker. The public is invited to attend, and resevrations can be made at the Community Fund office, fourth floor of the Majestic building. Arthur V. Brown, president of the fund, announced that Mrs. Peter C. Reilly, Mrs. Wolf Sussman and Mrs. Brandt C. Downey have been named as a committee on arrangements for the annual meeting. The 1933 honorary member of the fund will be named at the meeting. The person chosen for the award will be selected because of outstanding and unselfish service to the public welfare. Thirteen years ago the fund had 12,000 contributors and now has 70,000. Young Republicans Organize Daniel Styers was named temporary chairman of the Young Republicans Club of the Seventh ward Thursday night at an organization meeting in the Washington. Election of officers and adoption of a constitution and by-laws will take place at a meeting to be held at 8 Thursday in the Washington.

velopment, reclamation, water power and agricultural rehabilitai tion.

EXPORT TRADE OF U. S. DIPS TO ALARMING LOW Valuations Topple Nearly Three and Half Times Since 1929. MILLIONS OF JOBS LOST Government Yet Has Great Resources to Bring About Recovery. The rapid decline in United States export trade has caused uneasiness at Washington and a widespread belief that the next administration must address itself quickly to this problem In the first of a series of three articles, Garry W Frantz of the Unitjd Press foreign department. Rives the background to the current situation and suggests some of the possibilities for recuperation. BY HARRY \V. FRANTZ I’nitcd Press Staff Correspondent WASHINGTON, Feb. 3.—The almost catastrophic slump in American export valuations from $5,240.000.000 in 1929 to $1,576,000,000 in 1932 offers an urgent and definite problem to economists of the next administration, according to the unanimous opinion of international circles here. The United States, which since the days of the revolution has made foreign trade a primary objective of policy and a source of national pride —as in the clipper ship era—can not long defer vigorous steps for recovery of foreign markets, disinterested diplomatic observers believe. Two million jobs, by official estimate. hinge directly upon manufacturers’ exports, while the merchant marine, railway trunk lines, cable companies and port services are crying out through agents here against the adverse situation. Then Comes Unbelievable In the decade from 1920 to 1929, United States export trade seemed to have stabilized at a figure in excess of $4,500,000,000 annually. This flourishing business was regarded as the “prosperity leeway” for American industry; it encouraged vast investments abroad and hastened development of a world-wide system of American-owned transport and communications facilities. In three years the unbelievable happened. Major causes of the slump in foreign trade were: 1. The purpose of many countries, either through internal economic exigencies or thinly disguised motives of retaliation, to discourage imports in general and those of American products in particular. 2. Abandonment of the gold standard by a majority of countries, which caused disparity in national price levels. 3. Resort by more than thirty countries to foreign exchange control plans, designed to discourage exports of gold by curbing merchandise imports where necessary. Has Recovery Machinery Offsetting these negative factors, the United States still has tremendous industrial and commercial machinery and unused diplomatic resources to promote rehabilitation of its foreign markets. These are: 1. A government-fostered merchant marine which awaits cargoes far in excess of those now operating. 2. A bureau of foreign and domestic commerce, with highly trained personnel at home and in fiftythree commercial centers abroad, now rendering nearly 4,000,000 services annually to American business men. 3. Employment of the principle of bargaining or “reciprocity” in new commercial treaties, this principle now being applied to Cuba exclusively. 4. Possible credit aid to exporters through the Reconstruction Finance Corporation or other agencies. 5. Relief of the international exchange situation through international collaboration, foreshadowed by United States intention to participate in the world economic conference. 6. Official assurances that the United States trade policy aims to buy abroad as well as to sell abroad.

ASK EXTRADITION OF LUKE LEA AND SON Tennessee Governor Studies Carolina Plea to Return Men to Serve By United Pm* NASHVILLE. Tenn., Feb. 3 Ap- : plication of North Carolina for exj tradition of Colonel Luke Lea, and Luke Lea Jr., has been taken under advisement by Governor Hill McAlister of Tennessee. North Carolina authorities sought the return of the Leas to that state for imprisonment on conviction of conspiracy to defraud the Central Bank and Trust Company of Ashei ville of $1,300,000. Governor McAlister indicated he would announce his decision on the extradition application next Monday. The Leas were not present at the • hearing, and their attorneys declined to reveal their whereabouts. TWO HURT IN CRASH Boys. Suffer Cuts and Bruises in Auto-Truck Collision. Two boys were recovering today from cuts and bruises suffered in an auto-truck collision Thursday night at Carrollton avenue and Fortysixth street. They are Charles Ziegler, 12, of 2910 MacPherson avenue, and Charles Legeman, 12, of 5645 Carrollton avenue. They were riding in an auto driven by Mrs. Helen Foster, 27, of 5352 Guilford avenue, when it struck a truck driven by George Ross. 21. of 1463 Livingston avenue. Hold as Drunken Driver Charges of drunkenness and driving while drunk were placed against Robert Mendenhall, 37, of 1007 North Oakland avenue, Thursday night, after his car collided with a street car at Tenth street and Ari senai avenue.