Indianapolis Times, Indianapolis, Marion County, 31 January 1938 — Page 10
PAGE 10
The Indianapolis Times
(A SCRIPPS-HOWARD NEWSPAPER)
ROY ‘'W. HOWARD LUDWELL DENNY MARK FERREE President Editor Business Manager
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Rlley 5551 i y
Give Light and the People Will Find Their Own Way
Member of United Press, Scripps = Howard Newspaper Alliance, NEA Service, and Audit Bureau of Circulations.
MONDAY, JAN. 31, 1938
PURCHASING POWER
HE President has pointed what he sees as a way to
better times. . .. No wage cuts, so as to maintain the purchasing power of workers; and lower prices, where possible, to regain the volume that brings profits to business. That is the policy he has laid down for American
industry. We hope he makes it stick. Whether he does will depend upon several develop-
ments. Foremost, of course, is whether the current “recession” has been properly named, whether it proves to be just a temporary slackening in business activity. And that, hopefully, is the consensus of economists and experts who go in for prophecy. Another important “if”’—and it will have much bearing on the former—is whether the leaders of business, of labor and of Government continue what they have belatedly started. We refer to their recent mutual undertaking to bury the hatchet and work together for an objective so important to all. : » ” » » 5 = T this point it is important to differentiate between wages and wage scales. We use “wages” here in the sense of a worker's income, which is something quite different from a worker's rate of pay by the hour. For in computing an income the number of hours employed is often a greater factor than the hourly scale. There exists today a force more formidable than it was in the tragic eariy Thirties—the force of organized labor. In the trying months ahead organized labor may prove that it has enough power to prevent employers from reducing wage scales. Some three weeks ago the A. F. of L. announced its stubborn opposition to any lowering of wage rates, and yesterday, speaking before the United Mine Workers convention, John L. Lewis served notice that no wage rate cuts would be tolerated in the mass production industries where his C. I. O. operates. So the lines are drawn. But one thing is certain: Neither organized labor nor the Government can prevent employers from cutting down payrolls if conditions get worse. As a matter of fact the parroll cutting started several months ago. Thus far there have been no noticeable reductions in hourly rates, but hundreds of thousands of workers have been laid off, and other hundreds of thousands have been cut down to a parttime basis. Thereby their purchasing power has been reduced.
# ” 5 ” ” n
HE President says rightly that industry's hopes for recovery and profits depend upon increasing mass purchasing power. And, in our opinion, he is right in pointing toward lower prices as the road to better markets for industrial goods, and greater volume of business. But more than admonition, we fear, will be required to persuade industrial management to venture on the policy of freezing wages and reducing prices. It will need cooperation from the Government, in the form of assurances that other needless risks will not be incurred, such as might be involved in sudden shifts of Governmental policy. It will need the co-operation of organized labor in increasing production at lower costs. And involved in this wages-prices problem is the issue of hourly pay scales versus annual wage incomes. For example, the automobile, steel and building construction industries boast very high pay scales. Yet in 1934, the last year for which statistics are available, the average annual wage of auto workers was 3900, of steel workers $348 and of building construction workers $959. Those are not princely incomes. Yet those, not the impressive hourly rates, are the figures that spell purchasing power. It might possibly prove to the advantage of such workers if their labor union representatives, when they sit down to bargain with employers, will think more in terms of annual incomes than in hourly scales.
PARADOX
WHILE the great ocean liner Leviathan lay at a Hoboken, N. J, pier, waiting to be sold by the United States line, $80,000 worth of rugs were stolen from her passenger quarters. The theft rated only brief mention in the newspapers. An Interior Department clerk in Washington embezzled $84,800 over a period of nearly four years. The ingenuity of his crime, rather than the amount he stole, has occasioned comment. We can remember when the theft of $80,000 in public money or public property would have created general indignation, but that was before we learned to think in terms of $7,000,000,000 national budgets and $38,000,000,000 public debts. Yet $80,000 is still a while of a lot of cash. A strange paradox this, that the greatest depression in history should have taught us to regard sums like $80,000 as little more than chicken feed. :
DISHONEST
AKING an economy plea in Congress, Rep. Clifton A. Woodrum of Virginia quoted another Democratic member as having said to him: ° “I propose to vote for an increase of every expenditure that I can, and to put the budget and the public debt in as bad shape as 1 can, in order to enforce inflation in this country, because that is what we should have.” Mr. Woodrum didn’t name the man who said that. We can’t doubt, however, that there are Congressmen who deliberately vote for reckless spending as a means to inflation. They may be honest in believing that inflation is desirable, But they aren't honest in the way they go about bringing it on. For nothing can be much more certain than this—that any Congressman who dared to make to the voters of his district the statement quoted above would be overwhelmingiy defeated at the next election.
| country with a hot club to
THE INDIANAPOLIS TIMES
Showing Our Colors !—By Talburt
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‘Now, About Wage
Cuts and Price Boosts—’—By
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Fair Enough
By Westbrook Pegler
Terry Is Correct in Saying That Baseball Writers Are Gullible, But Would He Like It if They Weren't?
EW YORK, Jan. 31.—Bill Terry, of the New York Giants, has authored a magazine story in which he pricks a blister. He accuses the baseball writers of persecution and gullible and lazy journalism, and as one who knows the business from sufficient experience I readily agree with him, reserving the right, however, to extend my remarks as follows: A few baseball writers have caused the whole craft
to be known facetiously as the laziest lot alive, a bunch more weary than night watchmen, utility cutfielders, third hase umpires and city firemen. There is more truth than fiction in the story of the baseball journalist who rose up in his place in the first inning of the opening game of the year, yawned, stretched, blinked and mumbled, “I wish the season was over.” We all know of the one who traveled halfway across the over a crucial series and then covered it off a dashboard radio in an automobile as he tooled around the suburbs.
Mr. Pegler These
| are conspicuous exampies, however, and their con- | duct, being spectacular in a certain way, is remems- | bered to the neglect of steady, routine work by the
conscientious reporting of the majority. ” » » S to the gullibility of the sport side in dealing with baseballmen. including Terry, my agreement goes even further. We print as news under war heads the most trivial business data of baseball. We also print as news, however, the interested and calculated remarks of baseball managers who hold winter-league audiences with the baseball writers and to our definite knowledge are using our columns to low-rate balky players, depress public opinion of them and thus beat down their terms. Terry refers to a case in his own career when John McGraw wouldn't give him his price and was able to spread before the public his judgment that Terry was overrated and wouldn't be missed if he did quit. I agree that that was an abuse, but I remember that I said so at the time, pointing out that Terry, back home. had no such access to the papers for his side of the story. ” ” ” S a matter of fact, of all the holdouts in baseball no man ever was spoken up for as angrily by the press as Bill Terry was when McGraw was trying to use the papers to chisel his salary. To ridicule and discredit the baseball writers’ clairvoyance and expertness Terry recalls that they used extravagant words to describe his team which won the pennant in 1933 by contrast witn their gloomy predictions in April. But. again, I will take Mr. Terry to the files and show where he himself, the manager of the team, expected to finish somewhere around fourth that year. On the score of gullibility I have to agree entirely and seriously propose that under a new dispensation every statement of his be checked and verified for motive and accuracy and that all mention of him be judged strictly for its value as news. Would that be okay or would that be persecution?
Business
Just keep the name of Christianity
The Hoosier Forum
I wholly disagree with what you say, but will defend to the death your right to say it.—Voltaire.
SAYS HE DID NOT DEFEND COMMUNISM
By Ira E. Cramer, Connersville
Referring to attack by J. D.,, who comprehends not how anyone not anti-Communist can be not a Communist. Let there be no misunderstanding of what I said. I see neither menace to true religion nor political salvation for society in communism. Bitter agitation
to express
troversies
{Times readers are invited their these columns, religious conexcluded. your letter short, so all can have a chance. be signed, but names will be withheld on request.) be
daily routine calls for recreation classes and some manual work in gardens or shops. The main concern of those in charge of the children is to develop their personalities. By having them in small groups it is possible to approach home conditions. The teachers become the foster parents of their wards. Specific instructions require that no child released until his home can
views in
Make
Letters must
either for or against it are equally abhorrent to me if conducted in | the name of Christian civilization.
made a practice of shelling and bombing defenseless towns. . . . The Republican authorities are
furnish him hygienic and educational facilities. ‘While Fascists delight in bombing schools and ‘workers’ homes,
out from behind such propaganda and I'll say no more about such political propaganda. ” E ”
NOTHING FUNNY IN F. D. Rs FIGHT, READER SAYS By Hiram Lackey The Times suggests that we might smile at the inconsistency of President Roosevelt, who condemns centralization of business but sponsors centralization of Government. This inconsistency is more apparent than real. The well being of all people is the concern of the Presi-
dent. He condemns the centralization
of business only to the degree that |
it endangers the welfare of America as a whole. centralization of Government because the narrowness and selfishness of local governments are a menace to American democracy. He is consistent in his fight against narrowness. The present filibuster Is an instance of how local governments threaten democracy. We owe a
| heavy debt to officials who think | in terms of the nation as a whole,
not just of Georgia or Montana. Too, we need business that thinks of the welfare of our citizens beyond the boundaries of New York. The Times may see much that
is funny as it watches Roosevelt |
fight between two fires. But the 10 million people who are denied the right to work and live decently do not see so much to laugh about. And the look on the face of the Negro who is hanged by a mob for a crime he did not com-
the |
He advocates the |
taking excellent care of these ten- | der victims of tascism. These children are under the supervision of the Minister of Education and Public Health. Hundreds of children’s colonies have been established in Republican Spain. Most of them are located in country estates and small villages, where land for gardens and playgrounds was available. A National Council for Evacuated Children directs the administration of these colonies. A definite attempt has been made to limit these colonies to a minimum lof 25 and a maximum of 100 children. They do not want these colonies to be institutions, but children’s homes. The decrees and instructions issued for their manage- | ment are very detailed and most illuminating. A colony with 25 children is in charge of two teachers, one cook and one laundress. The | wages and other expenditures are | minutely set forth.
Menu Is Suggested
i Even the weekly menu is sug- | gested. The food is simple but | wholesome and nourishing. The di- | rector must eat with the children so | they may learn table manners from | him. The instructions emphasize | that the dining rooms must be clean {and cheerful, with bright table cov- | ers and linen napkins. In the matter of sanitation, it provides for | bathing at least twice a week. The
THE DAWN OF DAY
By ROBERT O. LEVELL | Morning brings a hope all new, A welcome real and bright; | More inspiration then to do ! More things with all our might.
|
Republican Spain does all that is humanly possible to save its children. One of the main difficulties in this humanitarian work is the shortage of milk. It happens that the territory devoted to dairy industries is in control of the Rebels. Loyalist Spain must depend on imported, canned and powdered milk. All democratic countries have been sending milk and clothing for these children, but not in sufficient quantities to meet the growing need. The American people are maintaining two of these children's refugee colonies. = » »
F. D. R. MAY NEED SAIL, READER DECLARES By R. L.
Your recent editorial, “On Sailing —And F. D. R.” was a humdinger. It concludes that you'd feel more serene about the President if he preferred motor boats to sail boats. I wonder if the national gig isn’t already equipped with a motor, but one that has been wrecked by all the monkey wrenches thrown into it, and he has to use sail until the rhotor is repaired? ”n » ” READER CITES COST OF FILIBUSTER By B. C.
When occasions like the antilynching bill filibuster come up in Congress, the average citizen is likely to view it from one of two slants. Either he'll chuckle at the spectacle, or he'll growl about how Congress wastes its valuable time. Few stop to reckon the actual cost to them as taxpayers.
| thermore, the Loyalists have never |
mit is not exactly a smile.
» n ”
IS CARING FOR CHILDREN night
By Agapito Rey, Bloomington
Close to one million children are now orphans or homeless in Loyal- | ist Spain. The number of these unfortunate children in Rebel territory is relatively small since they were evacuated before it fell prey to the bestial foreign invaders. Fur- |
What then?
Romans 6:15.
By John T. Flynn
Economist Asks Further Investigation by SEC of the Short Sales Of U. S. Steel Stock on the Morning of Roosevelt's Chicago Speech.
EW YORK, Jan. 31.—One morning in October the stock market opened none too robust. For a good while it had been declining. But for a week it had more or less held its own. On that morning U. S. Steel opened with a sale of 76 and about 5900 shares changed hands at that price. But then the weakness which overhung the market began to affect the bids and so various sales took place at lowering prices until at 11 o'clock one sale was made of 200 shares at 75':. The pressure on the price seemed to be relieved and it looked as if it would level off at around that figure. As a matter of fact, there were on the books of the specialists orders for 5000 shares at 75, so that as soon as the price reached that point there was a good demand for it. a ” n UT the market plainly could not stand any strain, and a professional trader moving about the floor and watching transactions would very soon perceive that it was in a nervous condition and that this was a good spot for a little raiding. So around 11 o'clock floor traders stepped in and offered 3200 shares for sale. Of these 2700 were short sales.
This means that the floor traders, seeing that the demand to buy was just about evening off the supply for sale, could also see that by increasing the supply suddenly they could depress the price. The supply for sale came from people who owned U. S. Steel stock and for one reason or another wanted to sell it. But
if a floor trader, who did not own any U. S. Steel stock and therefore had no reason, good or bad, to sell
any, could step in between the buyers and sellers and |
anncunce that he had 2700 shares of U. S. Steel for sale, he would naturally increase the supply. There would be an excess of sell orders. But the excess would be created éntirely by a fictitious supply —a supply which did not exist—a phantom supply which the floor trader, under the rules of the exchange, could offer for sale just as if he had it. » s =n HE effect of this on this day was to suddenly push the price down to 74 and then further down, by the time the market closed. to 72. What we see here is the perfect timing of a gambling operation to knock the price of U. 8. Steel into a cockea hat. These facts are brought out by the Securities and Exchange Commission in its reasons for putting an end to short selling. But what ought to be explained is this: On that day—a day of weakness to begin with—at noon the tickers flashed the news that the President in Chicago had made his warlike speech against the “warmakers” and called for a quarantine of Japan. Such a speech naturally would frighten a lot of people and make a very easy spot for knocking the market down. Dia the floor traders who rushed in on the Exchange at 11 o'clock with their short sales have advance knowledge of the speech which would be released in an hour? The SEC might look into this.
| There's a joy to see the light A guide for all the way; DECLARES REPUBLICAN SPAIN Glad when lived throughout the
To greet the dawn of day. DAILY THOUGHT Shall we sin, be-
cause we are not under the law, but under grace?
IN is, essentially, from God.-—Luther.
For instance, Senator Ellender of Louisiana recently held the floor {or six straight days. During that time, talking mostly to empty seats, he spoke enough words to fill 105 pages of the Congressional Record. The record costs $50 per page to print, so Ellender’s six-day speech cost the taxpayers $5250. Even the fact that the speech was interspersed with such pungent remarks as “Father Divine's followers believe he was not born, but combusted,” will not make the cost any easier to bear,
God forbid.—
a departure
Gen. Johnson Says—
No Diagram Is Needed fo Explain The Threats Roosevelt Is Guarding Against in Asking Better Defense.
WW ASHINGTON, Jan. 31.—The Presi dent’s armament request could be improved upon only by asking much more. “Adequate defense means that we must keep any potential enemy many hundred miles away from our continental limits. We cannot assume that our defense would be limited to one ocean and one coast.” That states our military and naval problem in a nutshell. No nation will undertake modern major war unless assured, by relative superiority of fire-power at critical points, or at least a 60-40 chance of victory. No nation can have any such assurance on this continent if we maintain superior sea-power in American waters “many hundred miles away from our continental limits.” The policy is plainly purely defensive. As long as we seek no superiority of sea power, many “thousand miles from our continental limits,” we can’t wage offensive war against other great nations in their home waters, for the same reason that they can't wage offensive war against our superior sea-power in our own waters. : Demands that the President justify his policy by disclosing just what threats he is guarding against are thin political porridge. It is enough to say that we can't risk any naval defeat or disaster in waters between our Pacific Coast and a line drawn from Alaska through Honolulu to the southern boundary of Peru.
Hugh Johnson
» » 8 N the Atlantic we can't risk any military or naval lodgment by Fascist nations, like Italy or Germany, in any such Fascist state as Brazil or Santo Domingo. If we came to grips in the Pacific, we couldn't rely on the naval powers of France, or even England, to protect our Atlantic Coast. It is petty, piffling stuff to ask the President to draw a diagram of what no informed observer can overlook. Even apart from what is thus plain—when through superarmament and universal international tension, attack is even remotely possible, no com-mander-in-chief should be called upon to imagine just how or when or where it will come. ” » " HE rigidly defensive nature of the proposals Is disclosed in the Army recommendations. Our land preparedness is insignificant. Two million dollars for reserve munitions! We fired away more than that in a single hour of the St. Mihiel battle. Five million dollars for jigs, gauges and dies and fixtures for manufacture. It costs more than that to tool up for a single new automobile model. Six million, eight hundred thousand dollars for antiaircraft artillery. On World War ratios, that wouldn't equip an antiaircraft force of 2000 men. All American shipyards are scheduled to capacity for months. As yet, the President's program is not much more than an expression of intent. But the intent and the “foreign policy” his critics are hammering at him to disclose are plain enough. They are: “In a world ravaged by armed maniacal murderer nations, we propose to keep the peace of this continent.”
According to Heywood Broun—
A Good Reporter Must Learn to Get Close to the Lions and Tigers Of World Affairs Before They Take to Cover or Claw Him in the Face.
EW YORK, Jan. 31.—“Spike” Hunt, a good newspaperman, has written a good book called “One American.” The reviews have been enthusiastic, but I think that some of the critics have been a little punishing to Mr. Hunt even in their praise. The general line seems to be that “Spike” is the best loved journalist in America and that*he hasn't got an enemy in the world. This is carried on in the suggestion that he has never said an unkind word about anybody here or abroad. “Spike” is a lot better than that, and so is his book. It is undoubtediy true that he has a genuine interest in all sorts of people. He will drill through a bore for hours in the hope of eventually striking enough water for a well. And again, he will suffer the talk of great or small men whom he dislikes for the sake of finding the animating force which makes them function. But that isn't a kind of Eddie Guestism. It is merely the fundamental requirement in a good reporter. . » » » O my notion, no great news gatherer is a neutral. Truth can be found only by men with passion in their packs. At the same time, an investigator defeats his own purposes if he goes around with a chip on his shoulder and a pencil and a notebook in his right hand. Every novice learns that the best way to check any news source is to begin taking notes. The sight of a pencil will remind the quarry that he has let his hair down and that it would be wise for him to pin it up again. The person who is about to spill real stuff
will either dry up immediately or apply cloture by saying, “Of course, you must remember that all this is off the record.” A good reporter must learn to crawl through the jungle grass—even on his belly, perhaps—and get close to the lions and tigers of world affairs before they take to cover or claw him in the face. And so a genial personality is one of the first requirements of the man who would get information. Frazier Hunt, to give him his full fancy name, has the outward manifestations of a town greeter. He has the warm handshake and the genial smile. ”n n » E has learned to keep his temper under trying circumstances, because ever since he was 16 years old people have been pulling that old wheeze of “How's the weather up there?” And hundreds and probably thousands of times “Spike” Hunt has laughed at the witticism as if it were the best joke in the world. Men who are more than 6 feet 4 have to acquire a surface geniality or accept an inferiority complex. We live in a world in which dwarfs seem to get all the breaks, But one can smile and smile and still keep a sharp dagger within easy reach. The outward manifestations of “Spike” Hunt must be forgotten when one comes to consider his inner spiritual graces. He can cut the heart out’ of a stuffed shirt with as much skill as any journalistic surgeon of our time. He can be mean and bitter. In other words, he really is a good guy, and “One American” .is an autobiography which you ought to read for both pleasure and profit.
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