Indianapolis Times, Volume 45, Number 43, Indianapolis, Marion County, 30 June 1933 — Page 11

JUNE 30, 1933

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PROMOTED BY SEARS R. A. Williams Named Division Head in Men’s Clothing. R. A. Williams, who has been with Sears, Roebuck <fc Cos. for several years, has been appointed division head in men’s clothing, according to an announcement by John Burke, manager of the store. Willimas, a native of Kokomo, first

Record Day Saturday SALE of . OjJjr' l MILLER-WOHL CO. 45 EAST WASHINGTON

riTesX. fm MtiMed jbS J FOURTH TERMS 1 jroup when Fine woolens you eonsider IsSip’ • 7 . . . Smartly that these , tailored it a are brand JPy/ / V pri-e that new ere ii- ": M, i ' sav <s ’’act tions. the aST ©c &k, : . q u'i ck 1 y.” latest of the J& W'-' Sizes in roodaeason. els to ht all Pay .MV "k. fashion!) for S UltS every no n- Mvi s q'lul- ' >n of rro.tr NP tv roin - l&Pffigfffgggfo hurry for hin at ! nns \eurs : Hand print* tailored. all sh-er. ch tv tt < r. tv f o n s. All ftpSraSlefgM P*i ’orr.s and S iges. hades, a1 1 it tour 319.50 Credit Pay SU Week SATURDAY SPECIAL 4th OF JULY SPECIAL Emblem Rings Diamond Rings Solid gold, Masonic, Beautiful, genuine diamond T O O F K of C nn^s set * n 18 karat solid P„ ’ i ‘ ’’o’ hand engraved mountJb 3 16 s Hnd man\ others. $25. 00 Pay 50c a Week. KiiwC 43-45 S. Illinois St.

joined Sears in Chicago in 1928 to ! work on the 9pening of new stores for the company. Later he managed the Sears store in Kokomo, coming to Indianapolis to be a salesman in the men’s clothing division. He is a graduate of the University of Michigan in the class of 1917. The state having the greatest ! number of horses on farms is lowa, i where the horse census shows more i than a million.

Today and Tomorrow BY WALTER UPPMAXN

LONDON, June 30— I the countries of continental Europe which went through the agonies of extreme budgetary inflation, after the war, or witnessed the experience of other countries at first-hand now are making a desperate defense of what remains of the international gold standard. The most vulnerable spots are Holland and

Switzerland, the two nations which still are holding their currencies at the pre-war gold rate. The pressure upon them by the competition of the depreciated dollar, of the depreciated money of the sterling bloc, and oi the silver countries, is tremendous. This competition not only is

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strangling their trade, but the example of relief through rising prices in America and elsew'here is producing enormous impulses among their people to hope and to fear that they, too, will have an inflation. The repercussions from Holland and Switzerland are felt in Belgium, in Germany, in Italy, and, finally, in France. nan IN these countries, whatever may be the rational view of monetary inflation, there are great masses of people who have developed an entirely understandable phobia against another depreciation of their currencies. Yet their currencies are threatened, in some measure by the pressure of external forces, in even greater measure by the phobia among the people. Their experience | some years ago was so terrible that i there is a latent panic at the pos- ' sibility of their being forced off the ; gold standard again. Hence the insistent demand from the gold countries, v with France the leader, for assurances, for declaraI tions, for measures to stop the de--1 preciation of the dollar. Hence their opposition to almost any proposal which seeks to raise world prices by means which are n6t compatible with the most perfect and the most soothing orthodoxy of the gold standard. The phobia of inflation among the continental peoples; the latent panic expressing itself in hoarding and in flight, the political and social necessity of defending the gold standard. These are the considerations -which compel the French and their finaryial allies not only to oppose projects which aim to raise world prices, but to demand agreements which their people will interpret as opposing any inflationary tendency. nan IN this conflict most of the countries which produce raw materials and most of the countries outside of Europe which have large internal or external debts are aligned against the defenders of the gold standard. The British position is somewhere in the middle, because Britain itself is divided on the issue. The Bank of England and the city, that is to say the financial and creditor, interests, lean strongly to the gold standard group. The industrial interests, both capital and labor, lean strongly to the policy of expansion and price raising. The question is whether this conflict is to be settled by statesmanship or by speculation. In the absence of a positive joint policy by Britain and America, as for example the policy proposed by Mr. Keynes, it seems very likely that the settlement of the issue will be left to speculation. Whether speculation, which is tending to induce panic on the continent, will pull some of or all I the gold countries off the gold | standard I do not venture to predict. But that the speculation is | enormously powerful no one can I doubt. n n n THE question for us is whether with the dollar depreciated ■ nearly 25 per cent from gold, as it was Wednesday, w'e are not somewhere near the point where we must take stock and ask ourselves whether the dollar has not depreciated enough. At this point of depreciation a very large increase of domestic prices is not only possible, but still necessary, to justify so low' a value for the dollar. A devaluation at somewhere around 25 to 30 per cent can not now' be far away from the objective set when the administration left the gold standard. It is difficult to see why devaluation somewhere around the present point should check, except perhaps momentarily in ultra - speculative circles, the real and the steady advance of American prices based upon the enhancement of purchasing power and the revival of business. We are in the region of guesses, for no man knows enough to foresee the future with certainty. In these matters our guesses are'likely to be determined by our prejudices. My own prejudice would lead to an attempt to control events by a definite devaluation in British and in America, accompanied by a provisional stabilization. There are others who will prefer to trust events rather than human judgment. They will elect to let matters drift and allow speculation to settle the issue. (Copyright. 1933) ARRESTED AFTER CRASH Auto Hits Traffic Signal and Strikes Poolroom and Grocery'. After his automobile crashed into an automatic signal and a poolroom and grocery at Tibbs avenue and Michigan street, Ollie Switzer, 1132 Gross street, was arrested early today on charges of malicious trespass. improper parking and failure to have a tail light. Switzer's car was found abandoned at the intersection, and he was arrested later by Lieutenant Leo Troutman and squad. JUDGE BAKER ON AIR Criminal Court Jurist to Be Interviewed Over Station WKBF. Second of a series of radio inter- J views sponsored by the Crime Information Association will be held tonight with Criminal Judge Frank P. Baker on the program. The series was inaugurated over WKBF last week with Prosecutor Herbert E. Wilson being interviewed. Judge Baker and his interviewer will go on the aif at 7.45,

THE INDIANAPOLIS TIMES *.

- -*> >* *. ***** ' , *w. . -rV* 4 No One Can Foretell How High Woolens W ill Advance! Be Wise! Supply \ our Needs at Present Low r Prices! CAPITOL il F a SUITS Ip U&W OMS" a&tifT NOW Bi | . THE KIND OF SUITS you can put on now, and wear For Men and all year! Get your hands on them! Examine their |BBffl3P|l Young Men fine fabrics—nicety of details—real style—in fact, all - the features of expensive clothing! Lots of light and medium shades—so popular now! Models for the young h|9, fellows; also more conservative styles. Sizes to fit all V Capitol Shirt, Tie srs CAPITOL Q For Men and I Three $1 snu jl & T For Men and Young Men _ The perfect summer For Men and 'y wA- N / |\ 1 (JL ensemble! Finely tai- Young Men ’ M’J\ n/ V \ B* sxJ lored, fast color plaid jMjk \ shirts, with matching T \ XL/ Coo ‘ ai r ight ft AGAIN! Those Fine All-Wool .t 1 /1\ lA/ and tw ‘ sts - Capitol Swim Suits LI Vj/ wanted shades! Reg- 1 I • .s'Zmk ulars ’ lon gs, shorts NX an m / and stouts - • i e men are flocking 1 in - .i. i ermine PvA for these snug-fitting Men by the hundreds are telling us SEERSUCKER ' \\\N speed models. In black, ley never known such shoe values at SUITS I navy and raaroon ’ For Men and Young Men iPURE LINEN Men’s Shirts Sleeveless AHSUITS and Shorts Wool Sweaters For Men and Young Men 1 Fo t>i i j, •, , , , • -l_ Black and whites, tan and whites, two- & A AO The y’ re 25c and 35c Men like these pull- ‘ on * tans ' ,? n ."'S'lf ’ 3,1 Weeks—you’ll S/| qualities, when we over sleeveless find them 3,1 at * 2 ' 22 ’ JL' • have to repi ac e sweaters; pastel fd'7.' ! 1 !.'!.” gifc. • Popular SATURDAY! One-Day Sale! . , a P itol STRAWS For Men and Young Men C 1 /NCk * For M ,n * ntl ■■■■ *4.98 I We’ve sold hundreds of them | they’re worth far more, than ~, _. ". . . . C\T Ft QOO PATRS y this special one day price. . y “de SSS“f COOL TROUSERS SATURDAY. r One-Day Sale! i fFor Young CftpitOl PanEUlaS I After all, it’s hard to equal * ’/ a panama for smartness and Seersucker*: real comfort! Buy them towhite Ducts! vv"* v > morrow at a surprisingly White Slacks! { Up until a few weeks ago, m m _ when we opened this new deSSerT" 'only .' $3.49 f * ( I[\ gl partment. Indianapolis had SraS.r...’..;.sli9 V.aPllOI V-lOineS OnOD Our challenge: Just try to smart, cod! ww tla o ’ „ ■ equal them at anywhere near Striped Slacks .. sl*9B 10.EAST-.WASHINGTON STREEY * 222:

OPEN SATURDAY EVENINGS

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