Indianapolis Times, Volume 46, Number 104, Indianapolis, Marion County, 10 September 1934 — Page 10

PAGE 10

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MONDAY SEPT 10. 1034 THE MORRO CASTLE TU HE sea *tlll is master. All the wisdom and ingenuity of the human mind went into the ouiidmg of the Morro Castle. Yet the sea struck with casual cruelty and within an hour or two licked out the live* of more than a hundred people. Eight miles away on the Jersey shore civilization, with its electric lights, its wireless, its airplanes and all its complex devices, watched helplessly while flames and a smashing nor easter ate their fill. Old seamen have charged in the past that modern crews have come to depend too much on the radio, too little on skill and courage. There is no evidence that this theory is true in the Morro Castle holocaust. Acting Captain Warms and his subordinates stood by the vessel until she was beached with her hot deck plates buckling under their feet. While the real cause of the disaster remains to be determined by official investigation one lesson may be learned from it. The method of launching lifeboats on modem vessels is clumsy and dangerous. The system has not changed since the days of Sir Francis Drake and Magellan. Boats perched on the highest deck to be swung sixty feet to the sea by awkward davits and rope tackle agam and again have proved frail devices for rescue. In sailing ship days vessels did not have the high freeboard they have today and lifeboats needed to be dropped only a few feet. In the Vestris disaster the ship listed so rapidly that the boats nested along one side could not be launched at all. In the Morro Castle holocaust a wall of flame blocked the passengers from the boat deck and blazing embers burned the hempen falls of the lifeboats. Four of the Morro Castle boats never got away and the others cleared the burning ship with great hazard and difficulty. No matter how well trained a crew is. the launching of lifeboats from a lofty deck always is accompanied by confusion and delay. Tackles Jam, ropes break and boats capsize. It would seem that the Inventive genius of man could devise some better method than this for life saving at sea. Meanwhile the human race still should approach its ancient enemy—the ocean—with humility. That ’’old davvil sea" is not yet conquered.

•THE COMING BOOM' pHUM tar across the waters comes a voice of calm assurance. Speaking with perspective, it tells America to keep its shirt on. Major L. L. B. Angas is a financial expert, and a London financial expert, at that —which in itself gives him class. Furthermore, he is looked up to with what amounts to deference, ‘'Set only in the financial citadel that is London, but also in Wall Street. The reason for this is that he frequently has called the turn. His •'Coming Collapse in Rubber," "Coming Rise in Gold Shares," "Coming (English* Boom.” are examples of predictions that panned out. Finance salaams to the successful prophet. Hence. Major Angas possesses much honor in his own country and abroad, has become quite thl Elisha in money matters. That explains the big demand for "The Coming American Boom” even in a section dower Manhattan) where the New Deal is more or less anathema. In the manner of one who is so far away from the trees that the forest is clear as a cameo. Major Angas waves aside the idea that Mr. Roosevelt is a fellow who merely is willing to try anything once, an experimental quarter back, a Pied Piper of finance, “with a penny whistle to play and a seductive song to sing. Instead, this Britisher declares that Mr. Roosevelt knows exactly what he is doing and where he is going, and that, by reason of the powers he possesses, powers unseen by the multitude, he is taking us out of it, while we don't realize what actually is going on. Furthermore, this conservative observer lays the ghost of Communism. Fascism, and all those other 'isms'' which are keeping the old order awake of nights. He shows that the doom of the profit motive is not—and can not in the nature of things—be the objective of the President, but on the contrary that his ultimate goal is the saving of capitalism from Itself. You will have to read, and re-read in spots, if you want to get the welcome touch of optimism that is in "The Coming American Boom.” which starts in The Indianapolis Times today. Articles on finance are not things which can be read and absorbed while running. but these by Major Angas are as di- . rect and clear and simple as any of the sort we have ever seen. A little study here and there, however, won’t hurt. We won't vouch for the conclusions, for long ago we discovered that it is not the function of journalism to indulge in or underwrite prognostications. But of a couple of things we are certain. One, that Mr. Roosevelt does possess powers, delegated to him by congress, to control the financial workings of our nation—power not visualized by many, if any. of us. Second, that there is. as Major Angas sa> s, "a constant underlying theme” in the Roosevelt program, and that the theme is not. as so many think, unorthodox, but instead involves basically the same system of credit and money control as that which has characterized the administration of the federal resene system all aloiw— only more so. Today. Mr. Roosevelts authority is backed by power never before po&aeasefl by any President since the federal reserve was established The essence of that power is what is known technically as the “open market operation.” By it, credit la expanded—or contracted.

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Through It, banks can be made to bulge with unloaned funds, until an expansion of credit is forced and an industrial revival started; or, conversely, credit can be contracted by the same authority. What Major Angas describes as the "flash point" never has been reached since the depression started, despite the employment -In a large way of this method In the last months of the Hoover administration. Private bankers. eager lor liquidity In that time of stress, sat on the money as It came in and on the credit as It was created. Major Angas shows how President Roosevelt, through his vast authorization to spend for government account, has a fdree that Mr. Hoover never possessed to make successful the program Mr. Hoover tried—to create the "flash.” So. the Major says, despite the rises and falls that have been occurring in the general business graph, we inevitably are headed not merely for a revival of business activity, but for an actual boom, and a dangerous boom if the brakes of contraction are not applied in time. That, as the major sees it, is the "constant underlying theme.” Strikes and other troubles are merely the wavelets on the surface of a great groundswell. Those who are “viewing with alarm" are those of little faith. Behind the clouds the sun is shining hotly, and about to break through. Such are the conclusions of the Britisher as he looks at us through his inverted telescope. He may be wrong, and then again he may be right. At least he is interesting and refreshing. And, anyway, as "The New Yorker” says, “The Great American Boom” is running neck and neck as a best seller with "While Rome Bums." We suggest that you read what the Major has to say.

SCHOOL AND SAFETY C’EVENTY THOUSAND children returned to today. Among those thousands are hundreds who are starting school for the first time and who never have had the experience of battling traffic and who do not realize the dangers that lurk outside their homes and yards. Therefore the responsibility of protecting the lives of these hundreds and also the other thousands rests directly with the motorists of Indianapolis. Faced with this problem, it behooves autoists to drive more carefully and assure these children that their schools days will not be marred by tragedy.

MORE THAN BREAD 'T'HE National Citizens’ Committee of the 1934 Mobilization for Human Needs, as announced today by Chairman Newton D, Baker, is more than just another organization with a long name. It is America's social conscience astir to answer the mute call of millions of needy and suffering. That the government is spending billions for hunger relief should not lull the well-fed into complacence. Relief doles average only about $24 a month for each family, hardly enough to keep body and soul together. The otne* needs, such as medical care and recreation, must be provided by other than official agencies. This is why every city this fall and winter will stage a Community Chest drive, why the nation's welfare workers wrill meet in Washington this month to mass their forces and unify their efforts. Mr. Baker announces that the 1934 slogan will be: “Rebuild.” "Rebuilding,” he says, ‘‘applies this year not only to houses, skyscrapers, bridges and factories, but to broken homes, scattered families, hunger-wounded bodies and the shattered hopes and dreams of America.” The human wreckage wrought by the depression is a challenge. The people's health is hard hit by five years of hard times. A study by the Milbank fundveveals 48* per cent more illness among families of the unemployed than among others. The charity wards, clinics, nursing services must have extra help. Children are suffering unusual burdens as the result of broken homes. It is estimated that one-fifth of all pre-school children, whether on relief or not. are undernourished; and one-third are physically or mentally handicapped. Care for these orphaned, handicapped, malnourished little folks is tragically inadequate. Young people forced into sudden idleness need more provision for recreation, training and self-help. It is said that two-thirds of all arrests now involve persons between 15 and 24. "This is our opportunity as private citizens and as members of our local communities,” says Chairman Baker, “to register our belief in America's future and the willingness to assume our share in rebuilding its citizenry.”

ARBITRATE THE STRIKE! WITH men being killed, an entire industry tied up. and threats of more violence on all sides, arbitration is the only road to a peaceful settlement of the nation-wide textile strike. Foreseeing such a catastrophe as now has befallen this industry, the national labor relations board made belated mediation efforts on the eve of the strike, but the employers refused to sit at a conference table. After the strike began. President Roosevelt foresaw the necessity of arbitration by naming the special fact-finding board and giving it arbitral powers. Now the union, alter initial wild talk, has proposed that the President s board arbitrate and has agreed to abide by its findings. The employers, through Mr. Sloan's statement last night, seem to be trying- to block arbitration, though he is to discuss the matter with the board today. One of the arbitration conditions laid down by Mr. Gorman, chairman of the strike committee. seems definitely out of place. He proposes that, pending the arbitration findings, all mills in the industry remain closed with strikers guarding the mills against damage. We fail to see how the workers, the industry, or the public could profit by any such prolongation of textile idleness. If both parties to the dispute promise in advance to abide by the board’s settlement, the mills will have to reopen at the time of the settlement regardless of whether either side is entirely satisfied with the details of the decision. As an evidence of good faith and in the larger public interest, both sides should accept binding arbitration and resume operation of the mills at once.

Liberal Viewpoint BY DR. HARRY ELMER BARNES

THAT the American business man is the victim of ignorance, rather than a servant of the devil, is the sensible contention of Mr. John L. Spivak in an article in the "American Mercury” entitled "Business Men Are Bewildered.” Our business men would like to see pro.-per-ity returned for all. But most of them are woefully incapable of visualizing what is necessary to bring about this result. They are prevented by their apparent immediate self-interest from recognizing their actual self-interest when viewed in broad prospective. They know that their own immediate profits are increased by curtailing costs, including wage payments. Hence, they find it difficult to accept the fact that they can sell goods only when wages are high enough to insure vigorous purchasing power. Their conduct is not so much the product of overt devilishness as of confusion and nearsightedness. Mr. Spivak puts the matter fairly and clearly when he says that: "The average business man is well-meaning, earnest, eager to do what he can for his business, his community and his country. "The American business man sometimes knows his immediate business, but of the world at large he is generally abysmally ignorant.'’ ana HE has seldom troubled himself to understand the economic system under which he operates, and now that the very ground upon which he built up his business is crumbling under him, he is utterly bewildered.” writes Mr. Spivak "Men whose fingers touch every artery of their business, who know every inch of their factories, have only vague ideas of what is occurirg jn i-ther factories, ev"n in their own field. ” On questions affecting their industry in relation to other industries they are at an utter loss.” "The business man, nurtured on cut-throat competition in the struggle for immediate profits, does not realize that the priee of wheat in the Argentine affects the price of shoes in Nebraska.” The confusion in which American business men flounder is exemplified by representative answers which they gave to Mr. Spivak as to thr? causes of the depression: "The country’s in this mess because there’s not enough money in circulation.” "It’s because of watered stock. These brokers would sell ten cents worth of stock for SSO. Then all the money concentrates in the hands of a few men. That’s what started the depression.” "It started because manufacturers built more and more factories during the boom days.” a a a A CONSIDERABLE section of American business is hostile to the New Deal because the President seems to be spending a lot of money or to be helping the cause of labor unionism. To the business man, this means merely higher taxes and higher wages. He simply can’t see that all this is necessary in order to boost purchasing power, avoid violence and promote the restoration of prosperity. When business men are with the administration, it is more because of fatalistic poker despair than on account of intelligent insight into what Mr. Roosevelt is going to do. Here are two representative statements given to Mr. Spivak by business men friendly to the administration: “I don't know what Mr. Roosevelt’s trying to do. The best I can do is to be fatalistic about it and hope that he knows. The whole country, inspired by patriotism and an earnest desire to get out of this terrible situation, is following his leadership blindly. With no one knowing what it is all about, the best we can do is hope that the man we placed at the helm knows what he is doing.” T don’t know, I really don’t know. I guess the only thing we can do is to give these college professors running the country a chance. Let s cheer for them. Maybe they'll get us out of it.” All of which goes to confirm the old adage that Hell is paved with good intentions.

‘The Coming Boom’ BY THOMAS L. STOKES

ROOSEVELT administration officials interested in the “Coming American Boom” articles now appearing in The Indianapolis Times believe that any implications of a speculative era of quick profits should not be taken too seriously. As regards fundamental economic recovery the administration welcomes optimism, for it is bending every effort to promote a stable recovery that will reach to all —not to just a few r who might reap paper profits from speculation. But—- “ Speculation won t put people back to work,” is the way one high official put it. A determined stand against any speculative orgy was the major reaction of a number of treasury officials and economic experts who were interviewed and who gave their views privately. Added to this is President Roosevelt’s reiterated denunciation of speculation and his statement that prices must not rise too far and that recovery must be gradual and may take one, two are three years. Officials objected to the apparent underlying emphasis of Major Angas on speculative aspects. The Roosevelt program, they pointed out, aims, not at speculation, but at a gradual restoration of all the people, through the various agencies— NRA, AAA, PWA and the like—to a state of permanent prosperity. It works through longtime investments in homes and security to achieve this. The English economic forecaster, they said, is wrong in regarding the Roosevelt monetary policy as the core of the administration program. It is a part, and an important part, but equally important are the various phases which have to do with human welfare and reform.

'"pvnEY gave the British pamphleteer credit for J. insight in his conclusion that the Roosevelt program is a well-integrated plan, with the parts all fitting together, and not a haphazard scheme. His major theory of an inflationary boom is based largely on the huge store of excess federal reserve member bank reserves—totalling now- approximately $2,000,000,000, a record for all time—which he says, remain only to be touched off. Treasury and federal reserve officials are aware fully of this possibility, which carries certain dangers of which they likewise are aware. They have pointed out the existence of these reserves. which represent the excess in banks above legal requirements, for some months. Thus far they have not been touched off. That this credit is beginning to move out finally, after months of hesitation on the part of business to seek loans and, in many cases, the caution of bankers in granting them, is indicated in a recent reverse of loans and discounts from a decrease to an increase. This shift occurred four weeks ago. For weeks Chairman Jesse Jones of the Reconstruction Finance Corporation has been waiting for business to come to the R. F. C. and the federal reserve banks for loans to industry. Thus far only about $15,000,000 has been advanced. a a a WHILE desiring to encourage loans to revive sound induces, the administration will act to prevent any flood of money into speculative channels. For this it has numerous “brakes” at its disposal. It is known to be President Roosevelt’s purpose to prevent uneconomic expansion which is costly and wasteful. He has deplored publicly, likewise, the speculative stock market flurry of last July as the sort of thing which the administration will guard against. Officials pointed to errors of fact by Major Angas in his book, not highly important in themselves, but indicating less familiarity than he assumes with the American experiment. He seems to think, for instance, that the stock market act is a part of NR A; he cites expenditures of only $300,000 000 for the Civil Works Administration and on the same page lists expenditures for relief, mostly CWA, at $1.400 000,000: he speaks of financing NRA, which is financed by industry except for ordinary administrative expenses.

THE INDIANAPOTTS TIMES

The Message Center -

(Time* readers are invited to express their views in these columns. Hake your letters short, so c'X can have a chance. I4mit them to £SO words or less.) a a FEARS REVOLT AGAINST ECONOMIC CONDITIONS. By Robert E. A. Crookston. I wonder what the big shots have in mind? I wonder what the taxpayer wants? There is a big chance for war right here at home. Who built the great churches, pavements, great department stores, mighty industrial plants, imposing banks, exclusive club houses and palatial residences? The working man, of course. The big shot did the planning and financing but he couldn’t and wouldn’t dirty his hands nor soil his white collar in doing the hard, dirty work of construction. We, the workers, could always be depended upon to do the hard dirty work and we did it gladly, knowing full well that we never would be permitted inside the completed mansion or church. Now we are dubbed bums and the riffraff of the nation because we are out of job and on charity. Who put us out of jobs? Who caused us to be put upon charity? The fault lies at the doorstep of the Wall Street gang, the Chamber of Commerce and the preachers of the fashionable churches. We, as former workers, are used like a pack of cur dogs by the givers of charity, looked down upon as coolies, we get barely enough to exist. Our children are undernourished and becoming weaker as the result of a misma - iged government. I am a Communist; I believe in the government of the United States but listen! Put your ear to the ground and you can hear the rumblings of a human volcano. All it needs is someone to kick the lid off and then we shall face the greatest catasticphe '■f all time. It isn’t a dole we want, it’s' work. Not starvation wages but decent wages and decent hours with the luxuries that belong to us. Beware, y: rich men, beware, ye taxpayers! Let’s get back to the Golden Rule and do unto others as ye would that others would do unto you. Better taxes, large taxes, than ruin yourselves by disastrous civil war. None of us want that but unless something is done very soon it surely will come. The only liberty we 3 ave left us is the right to vote. We can not even move into another township, county or state. If we do, we are shipped back. We are citizens of this great nation, yet every privilege we ever had is gone except the privilege to vote. ana BLAMES BANKERS FOR ECONOMIC ILLS By a Student. The attitude of bankers, who control credit money, which is more important than printed or coined currency, is responsible for the stagnation of industry. Credit is a primary factor in the capitalistic system which determines the velocity and volume of turnover in industry. Cash plays a very small role in the total volume of business done in America. A shortage of cash is essential to our banking system, so that it can force loans to be in demand, on which a premium must be paid to those who control credit, which really is money created by banks. Over credit money the federal government has very little control. Yet credit money is much more important in our system of industry than the coinage or printing of money by the government. If we are to play along with credit as a basis of production and distribution, either the banks’ power to control

THERE ARE SUCH

Condemnation Heaped Upon Working Wives

By a Hopeful Sufferer. Can no definite action be taken against the employment of married women who enjoy all the luxuries of life, fine cars, homes, are wellclothed, and with two substantial incomes each pay day? What a contrast to the single woman, grateful for an occasional few days or weeks employment to keep the fftm the door; some with aged mothers constantly under a physician’s care due to worry and anxiety; some have even parted with their beloved and precious mothers during this dreadful scourge through which we are passing; grateful, too, for the few months of relief work made possible by a kind and merciful President. Soon the wives will be doing their Christmas shopping spending large sums of money saved during their year of prosperity, while some of us will be wondering whether we actually will have food on Christmas day or not. One capable stenographer substituted two weeks and then stepped

credit must be made responsive to the national need, or the federal government must supplement such credit money or currency through a government-owned bank operating independent of the private banking system. The power to create credit money makes bankers more powerful than congress. No real liberty can exist while such domination exists. a an CHARGES “SCABBING” IN TEXTILE STRIKE By a Striker. Asa constant reader of The Message Center, I take this privilege to say a few words in regard to the strike now going on at the Indianapolis Bleaching Company plant. The strike is but a week old and there are only a scattered few left over the whole plant, but there are a few from the outside trying to ‘■scab” and take the jobs of we who are fighting for our rights. In my opinion “scabbing” is about > the lowest thing a person can do. I wouldn’t ‘‘scab’’ on any ones job. a a a EX-CONVICT LAUDS SYSTEM AT PRISON By Ex-Con. The writer is not a Republican, neither is he a Democrat. He is a red, red as the blood of the Crucified One or the Communist manifests. This frank declaration of my policies is made that there be no mistaken inferences as to my intent. I write of the Indiana state prison where it was my ill fortune to have been sent and my good fortune to have stayed until the violence provoking influence of strong drink was wasted from within me. Big of frame, heavy jowled and not prepossessing in appearance, the warden at the time of my confinement was Mr. Daly. During my stay I talked with him but once—just the matter of fitting glasses to mjr eyes. And he was fair, and understanding and human. This was all I could ask and all to which I was entitled. H. D. Claudy, the much-maligned, was curt of speech and pompous. He was a he-man and as square as they make them. Once, in discussing Mr. Claudy’s qualities, I heard an old lifer say, “You just can't argue a point with him. but, still, he plays no favorites.” Those of you who do not know or understand the peculiarity of convict

[l wholly disapprove of what you say and will l defend to the death your right to say it. — Voltaire. J

aside to make way for a married woman to return to her duties after enjoying a vacation with pay. In two other instances vacancies might have occurred but the brides decided to remain on the pay roll. Then, too, are the many girls from wealthy families gainfully employed where it is not at all essential or necessary. I am well aware of and keenly sympathetic with the many widows who are struggling to keep their families together; they do not enter into this situation In any way whatsoever. Is there not some way by which every business organization in the city can be contacted and asked to sign an agreement that they will dismiss every married woman who has a husband making a living wage? Some firms have adopted this pollicy recently. Why not all? If not, then surely God will have to intervene soon and show us the way, as this greed and selfishness can not continue much longer without just punishment.

thought processes, will not appreciate this concession to truth. Probably I do not know all about officialdom at the Indiana state prison. Possibly that fairness which I love and respect is not so pronounced as I had thought it to be, but this knowledge I shall cherish; my years of prison disciplining, and later, my time spent on.parole with the wise and sympathetic Salvation Army have wrought for my personal good. And I am red. Not because of enforced penal but because of enforced private idleness. a a a OBJECTS TO CHANGING WORDING OF BIBLE By Herbert R. Achley. Asa Christian believer and church worker I would like for some one to explain what authority any one has for changing the Bible. I always have accepted the Bible for what it really is, God’s holy truth, everlasting and unchangeable. But, now comes along the new Bible. It is called the new analytical Bible, and a folder describing it states that the Bible contains thousands of mistakes. They haven’t only changed a word here and there, but whole passages have been changed with meaning altogether different. Surely our people and our ministers can never believe that God’s word is full of mistakes. But, it seems in these days, one needn’t be surprised at anything. One writer in the Message Center said the Bible was man-made. How does he hope to be saved by a manmade Bible? But any Bible that man makes from the real one certainly is man-made. For my part, the Bible I now have is good enough for me, because God declares it to be his true and unchangeable word. a a • DICK POWELL CALLED “GREAT FELLOW” By Isidore Greenbere. Newsboy. I always have been an admirer of Dick Powell and went regularly each week to see him when he was with Charlie Davis and his orchestra at the Ohio and Indiana theaters. I liked him very much as master of ceremonies at the Circle theater. I have seen all his latest pictures and liked them all. He is great on the radio and I like to hear him sing. I have written to him several times at Warner Brothers studio.

_SEPT. 10,1931

Burbank, Cal., and he always answered, and he sent me one of his autographed photos. When he was here last Wednesday, I was introduced to him by Carl Niesse, general manager of the Ambassador and Alamo theaters. He remembered me by the letters I wrote. It pleased me the way he greeted his old friends back stage at the Indiana theater. Dick Powell is a great fellow and he likes his friends. He was here only for a two-hour visit, but I hope he will come back soon to be with his many Indianapolis friends for another visit when he can stay longer. a a a PREDICTS ROBINSON WILL BE RE-ELECTED By Puzzled. Would appreciate a small space in the Message Center for the following: Your knocking of Senator Robinson probably will react in the same way that the knocking of a popular low priced car reacted, namely, in the election of Senator Robinson this fall. President Wilson promised the Germans no war indemnities. However, he subscribed to war reparations. We now are told by President) Roosevelt we will not have inflation; instead we will have deflation.

YOUNG MOTHER

BY KATHRYN MASON Dear little mother Today you smile, And for a little while You will watch small hands, and tiny feet And know the sweetness of ai baby’s cheek. Time will add to your toil and care, Nights of sorrow, pain and fear; And yet, You will smile As you look upon your stalwart child Wondering why You ever feared The dawning sky Os approaching years. Yes, little mother In the after years Looking back through smiling tears. You will see your accomplished good And the crowning glory of your motherhood.

So They Say

Europe has need of mutual comprehension or it is heading for its twilight.—Premier Mussolini. S Wherever I stop in the United States, I am photographed. This is supposed to be a pleasure around the world. —Sultan of Johore. Charles A. Lindbergh has becom® my best assistant in biology, following my course assiduously. The name he will leave in that science will b® as illustrious as that in aviation.— Dr. Alexis Carrel, Rockefeller institute.

Daily Thought

Is any among you afflicted? Let him pray. If any merry? Let him sing psaims.—James, 5:13. r* is our kindest and tenderest emotion which we screen from the world.—Richter.