Indianapolis Times, Volume 45, Number 29, Indianapolis, Marion County, 14 June 1933 — Page 8

PAGE 8

Today and Tomorrow BY WALTER LIPPMANN

The world economic conference has met under conditions which are radically different from those which existed when the experts prepared the program last winter. At that time the United States still was on the gold standard, and the American price level was subject to all the influences operat-

in g upon gold from the other gold standard countries; from the great group of countries of which London is the financial capital, and from the depreciated silver countries. American price relationships were beyond American control. In addition, there was a state of political paralysis in Wash-

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Walter Lippmann

Ington which prevented the government from taking positive measure of any kind. It was possible *either to work out a controlled deflation toward anew equilibrium nor a controled inflation. Under these circumstances the one hope of relief lay in trying to persuade the other nations to return to the gold standard as promptly as possible with a view at least to stabilizing gold prices and stopping further deflation. The American policy in the closing months of the Hoover administration, therefore, turned chiefly on pressing Great Britain to stabilize the pound on gold. 0 0 0 BUT for various reasons the British government would not commit itself. It was moved in part, no doubt, by a quite proper conviction that there should be a settlement of the war debts before stabilization. But there is no evidence which is publicly known that Great Britain would have returned quickly to the gold standard even if the debts were settled. The impression may be mistaken, but none the less it exists in this country, that the British people were extremely reluctant to surrender the freedom of action which goes with the management of their currency. In any event, when the conference was organizd the position was one in which the United States and France were seeking to bring Britain back to a currency stabilized on gold. In the interim, the United States, after going through a crisis which was outwardly different from but inwardly very similar to the British experience, went off the gold standard and undertook the management of its own currency. Almost instantly the previous position was reversed: The British began to preach our former doctrine of stability and we adopted the former British doctrine of being rather suspicious of the gold standard and reluctant to surrender the freedom under which we had obtained such enormous relief. 000 IF we compare somewhat more closely the present position of the two governments, we must note, I think, a very important difference. The Roosevelt administration is set to undertake very powerful measures. It is prepared, if necessary, to revalue the dollar in case gold ifself does not become revalued. It is prepared to expand credit in large volume. It is prepared to promote great public works to force some of this credit into use. It is prepared to refinance much private indebtedness. It is prepared by various controls to stop price-cutting and wagecutting. In short, the Roosevelt administration has the authority and unquestionably will employ it, to attempt to bring American prices, debts, fixed charges, and wages into a workable equilibrium. The position of the MacDonaldconservative government present a striking contrast. So far as one can see, it has no comparable program of action, and to all appearance it has not the will or the unity of purpose to adopt a comparable program. This, I suspect, is the root of the difficulty in working out immediately effective co-operation between the two governments. The Roosevelt administration is prepared to use the power and the credit of the United States in positive action. The MacDonald government to be inhibited by the natural conservatism of its components elements. 000 IT is the absence of any really convincing domestic program of reconstruction in Great Britain, and also, of course, in France, which must make Americans hesitate at this time to bind the dollar closely or rigidly to the pound, the francs and to gold. A tentative and temporary and very flexible stabilization within ample limits, may be desirable; but the essential fact is that until Britain and France give some real proof that they mean to take positive measures to raise prices, relieve debtors and enhance purchasing power, we cannot afford to be bound by their hesitation and their inaction. They are entitled to pursue any domestic policy they wish, but if their domestic policies do not move in the direction in which we are set to move, they must not expect the United States to stand and wait with them. International co-operation is an "dmiveble ideal, but it should be a co-operation in powerful, concurrent, and concerted measures, and not merely a co-operation which produces a negative and impotent stability. iCopvrißht. 1933)

Kidneys Must Clean Out Acids The only way your body can clean out Acids and Toisnnou* wastes from your blood is thru the function of millions of tiny lvidnpy tubes or filters, but be careful, don't use drastic, irritating drugs If poorly functioning Kidneys and Bladder make you sffer from netting Ip .Nights I,eg Tains. Nevousness. Stiffness. Irritation, Acidity. Neuralgia or Hheum|tlc Tains. Lumbago, or Loss of Kntrgy. don't waste a minute. Try the Doctor's prescription called Cystea <pron'\inced Sisstexl. Formula In every pnck.ge Starts work in IS minute*. Hootheg , tones raw. irritated tissues. It is nerd millions and is guaranteed to fix uup or money back on return of lpty package. Cystex Is only 75c at -ug—AtHtftiaeineuL

I for America on Summer Needs /\ An Outstanding all i/r i • si • Less Than Usual Wholesale Cost! All Mohair 2-Piece . _ , . sMli gpe I s{69 Living Room Suite /lH an( J perfect, with non-break- A Aap 9 Reversible Moquette Cushions [lffi' u Jj p ***** bands •“*- Pall 33 •New Style Front Jggg|§gf W ImTM In f> er soll Junior, with fob, $1.19 ""igfmM mTT „ ... , . , , -Sears, First Floor. B * Honor-Built ockmg Approved Famous Not-a-Kink ”^ couplings, guaranteed for two [ i | _ years. It withstands ten times the —"L LA 81 B mu ■ n gJ| ba JjL Be sure to see this outstanding value tomorrow—and 5 w 211 l l ij i 4 notice particularly the Queen Anne legs. Honor-built—-n fledge every inch of it—to Sears own careful specifications, and Doors Shears think of getting all-mohair at this price. vJd . | ' mmm ’f where you can see "it—tells'the [) / v Special Purchase! Oak Reduced! “Polar Air” Tod back*of it Priced W Jf j antee that blaster Mix will covHP A Porch Swings Refrig< rS Bm long and look as beautiful as j m mesh black if blades. Made 0 ° ™ c ml any paint on the market! If V to stand hard —Sears, Basement -Basement. -Basement. J ri f ""1 Serotone SerOCO — I | y 5) ]S, | | Semi-Gloss Paint v Gloss Enamel Cover Your Davenport With Pre-Shrunk I Qfl] s^39 % TT i { • n+ll l+A# Cl ■r\ ■■ ~—p| J " - A satin-like finish for Sears most popular wall WUCIIILV 11P W iU|>±=: —r: ■ - {sf rl walls and woodwork. and woodwork finish. J ~ m , Qt., ' 41 I r —Basement. —Basement. $11 00 $159 ¥■ “ IJ Wall Paper Room Lots of t S \ ' “HT Hanging Sets Wall Paper • 1 l/wslfi9s\H ' $ 1 $ 1 Custom Tailored / -LvJ , x >se sneeial nriees for von wp Regularly Would Be $2 Enamel finish, all-steel exterior and big Smoothing brush, paste 12 single rolls of side / • c , j - ’ . XT . nickel-plated hardware. 50-Pound ice cana- brush, seam roller, and wall and 24 yards of bornals m tremendous quant- No just an ordmary porch swing, but citv . e. ou round ice capa combination base trimmer der-all high grade unt from the manufacturers. SOLID OAK,varnished, four feet long, with and knife grounded stock r most popular coverings is a shaped seat. Complete with chains and J5-Pound $-iq.95 100-Pound $00.95 * -Basement. -Basement, and Jaspe* cloth in the new ceiling hooks. Hurry to Sears for this Ca P aclt y •••• Capacity .... LL green, rust, rose, blue, red or value! Choice of white or green and ivory. —Second Floor. —Sears, Second Floor. sor type chair, sg.oo . A Summer Savings Price for 5 _ , , Flower Bed Border :,m harcovced *7' 25 An Insulated Console Range Lclude both material and CHj 25-Ft. hip. Phone Lincoln 8531 IHJII C Q I OOHOK foK \/oI|IaT I .timator to call at your con- ■■* CS l Q LmUQ vIUI Iwl w Cll Uv/i iii * evenings included. L i Regularly $1.25. Cicely woven and _R Pors winnr - : Sc:! f 1.. Till?.- durable, and designed to add beauty PMMap QJT -jr [M jL’ ji! 1,. 4+1 1 to your flower beds as well as to proM Jj JJ I . XLT ii tect them. Easy to put up—just push mT I ** | | | rl' >< ’ the ends of the pickets into the K jjk ■ ■ ■ ■■■ Hi ® _ W+H+l'W n * ground. —Sears, Rear, Outside. ■ wmm Lh Down anda Month 1 For Thursday, Friday and Saturday Plus Small Carrrying Charge y Qj Before Prices Rose, We Bought a mm* • Full Porcelain Enamel Finish 11 B n ii I I 1 ck!th /■ • Low Gas Consumption B 3 Carloads of Morlife Ll> JL 1. V/ Bag See its removable oven racks that pull A—7 out like shelves—its high speed burner % 1 lAA fY/ 13-■ i FINE GRANULATED. LIMIT 2 BAGS. NONE TO DEALERS that broils steakg evenly _T itg sturdy >M> 1111 I Wf) \ 11 T P JEWEL COFFEE SK!. 3 l':. 49c construction—its green-trimmed ivory j CT™® ,i 6 !I e toaKDWSifei Pennsylvania Oil ORANGES caiifornu 2 ■>• 35c 1 Special! Famous “Model A” C 4 7Q BANANAS g k!S" 4-21 c mi* - ~rr Kenmore Washer HI I SMOKED PICNICS -9c V% $0795* |SI IM . , SLICED BACON W"" and 2-29 c I|! fig 3 W.l —s IM . o Gallons nnCYTTXTTA O M Down and $J> a Month • Swinging wringer with 1 | W in I OUL vJWn GROUND BEEF BX ■si Small Carrying Charge balloon rolls f • UCATT J\m T>T7T?T? Lean i At its Summer Savinsrs • Porcelain enamel inside .011lctin61 VJ ID Hi Hi r Brisket Lb - OL price, “America’s fastest anc * out> cleans easily VCiVtV T OTM small sue * o P j selling washer,” an even • Splashproof y±- horse- Oil prices can’t stay long at their present levels. ruAIV whole or Rib End OL ■]■ reater value than usual. power motor, rubber We’d advise you to buv enough Morlife now to 17 1 TA' • Y I JWny T AIJ See this famous washer to- mounted to prevent vi- protect your motor for a lnno- timp xbozA r resh ricnics w® ib. 6c ”• a y r % r nve - . T tio , n ' ioilife fs X Wars 8 to m^ e S Tr m ■[■HiSi mently, out of what you • Noiseless cut gears sprvicp 6 * -Sears, Basement. UL Save on laundry bills. -Sears Basement t>ears, Basement —Sears, Basement. if Also \t Sears Irvington Store & 4SBI OM II AH MM ~Wk 'WBA mmf *4 Jpl Un ,.„ 5628 E. Washington St. IJ fA ] L F,a ' e our Wd\v (ut in Sears Modern. Sanitary Barber Shop

THE INDIANAPOLIS TIMES

.TONE 14, 1933