Indianapolis Times, Indianapolis, Marion County, 27 April 1938 — Page 10

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5 = WEDNESDAY, APRIL 27, 1938 | TOO-EASY MONEY : | easy—disturbingly easy—for Uncle Sam to borrow money. A $200,000,000 Treasury cent 18-month notes of the Commodity Credit Corp. has

just been oversubscribed about seven times. There was

$1,400,000,000 of private capital eager to get into an investment paying only $7.50 a year on each $1000. - Cheap money? Well, look at this: . The Government received applications for $159,000,000 worth of 91-day Treasury bills, bearing no interest. 1t sold $50,050,000 of them at what is said to be the best price in history. Some buyers paid $100 for every $100 the Treasury will repay three months hence. The average price was

$99.991 per $100 face value. There was private capital eager to get into an investment which permits $1000 to earn

The commodity credit notes were in such demand because, for one reason, they are tax-exempt. Here is an example of what President Roosevelt told Congress this week: “Men with great means, best able to assume business risks, have been encouraged to lock up substantial portions of their funds in tax-exempt securities.” The record prices offered for Treasury bills are ex-

* plained in part by tax-exemption and in part by the fact _ that the country’s banks are full of idle money. Many

PE CREE PRE ES IES

states tax bank deposits. Some banks, or their depositories, find it more profitable to make short-term loans to the. Government than to pay these taxes, even though they get nothing or practically nothing from the Government for the use of the money. Some banks, it is reported, encourage owners of large deposits to buy the short term bills, to reduce the banks’ assessments for Federal insurance of deposits.

¥ x oN 2 yy 8 E agree with Mr. Roosevelt that tax-exemption should be ended on Government securities—and on Government salaries. But a great deal more than that is needed. When non-interest-bearing Treasury bills, bought at par or at an insignificant discount, are considered better than cash in the banks, there must be something very wrong. There is. It is the thing—call it lack of confidence or what you will—that causes idle private capital to pile up in the banks until it becomes an embarrassment, ‘while the Government proposes huge lending and spending to prime the pump. : | If this private capital were put to work pump-priming would be unnecessary. Unless it is put to work pumppriming will fail. That is why we think the most hopeful signs now visible are the conferences Mr. Roosevelt is holding -with businessmen, the growing willingness of business to cooperate with the Administration, the evidences of desire for reasonable compromises. Examples are the Owen YoungWinthrop Aldrich signed statement yesterday, and the President’s meeting with Henry Ford today. These hold

promise of encouraging private capital to get back into

legitimate productive enterprises. Conditions now are such that capital apparently is unwilling to accept the risks and penalties of investment in job-creating, wealth-producing private industry, but eager to supply all the borrowing wants of a political bureaucracy which grows on the miseries that bad times cause. That spiral can lead only downward. Somehow the conditions must be changed and the spiral reversed. We hope the co-operative endeavors of the President and businessmen will find a way.

HENLEIN : AGENT PROVOCATEUR HE plot against Czechoslovakia continues to thicken. Ever since Herr Hitler's absorption of Austria it has been increasingly clear that this island of democracy may

be his next objective. And the latest speech of Konrad Hen-

lein, Nazi leader in Bohemia, was a virtual diagram for Czechoslovakia’s dismemberment. : :

Herr Henlein demanded autonomy for the three and.a quarter million Germans of Czechoslovakia, abandonment of

the defensive alliances with France and the Soviet Union,

“closer relations” between Prague and Berlin, and a more friendly attitude toward the Nazi program of expansion to

the east. : For unmitigated gall, his ultimatum has been matched in our times only by Japan’s demands upon China. Herr Henlein did not stop at asking equality for his followers. That they already have. He insisted that his minority be given the right to rule the majority—that the tail be allowed to wag the dog. Czechoslovakia has a population of approximately 15,000,000. Of these some 3,250,000 are of German bldod. They have precisely the same rights and privileges as the other citizens. They have their own representatives in Parliament and their own political parties. They have free speech and free press, their own schools, churches and newspapers. They live under one of the most democratic regimes to be found anywhere in the world today. But that is not enough. Comprising less than a quarter of the population of the country, they want to dictate to the other three-quarters. ’ : Patently, Prague cannot lie down and let Herr Henlein

and his Nazi followers use it as a doormat. No government

could. Henleiri and his master across the border, Hitler, know: this very well. Apparently. their strategy is to put Prague in a position where it has to refuse Henlein’s

cheeky demands, then charge that the German minority is

being oppressed, stage a few riots and thus pave the way for German intervention. a : To the rest of the world the fateful question is whether

these provocative acts likewise are paving the way to an-

other general European war. -For Cgechoslovakia is

ered by carrier, 12 cents

offering of three-fourths per

few of my "the, heal

Washington By Raymond Clapper No Doubt Chiseling Politicians in

WPA Bother Hopkins, but He Needs A Stringent Law to Back Him Up.

ASHINGTON, April 27.—Eventually Congress will have to consider methods of rooting politics

out of public relief and spending, and: the opposition |

to the Administration could render no more constructive service than to force the issue in the recovery program now coming wp. ~~. oo In the Tennessee Valley Authority Act, Congress provided for mandatory removal of anyone connected with TVA who was caught allowing politics to enter into the appointment or promotion: of personnel. A provision in this spirit should be included in all relief and PWA legislation. Perhaps it would never. be enforced 100 per cent. But it would give both

Mr. Hopkins and Mr. Ickes a powerful club with" which.

to fight off the politicians who stick to WPA in certain localities. : CRE

8.8 # \ Re 3 P the Administration doesn’t move itself to shake the politics out of relief, it runs the risk of being on the receiving end of some unpleasant mud. Democrats themselves are digging it out now and in a small way have forced the Administration to investigate administration ‘of relief in Pennsylvania Florida. Before the primary cam are over, it probably will have to investigate in Kentucky and Indiana, and perhaps other places—at the demand of

Democratic candidates who are bucking their local or-

ganizations. ‘In many states relief has become entangled with the dominant Democratic faction. In

Missouri, for example, the State WPA Administrator |

also is ‘a city director of public works—Matthew S. Murray, an appointee of the Pendergast machine. WPA officials here say they do not approve of their administratQrs holding other jobs but thus far they have allowed WPA activities throughout the whole state of Missouri to be in the hands of a Pendergast city employee. : . Hitherto WPA officials have been inclined to wave aside charges that politics has crept into relief. They say these charges always come in election years and that they die down afterward. They naturally try to belittle the accusations and say that in most cases, when proof is asked for, it never is produced. Unquestionably Mr. Hopkins is irritated by chiseling politicians and tries to keep them out of his hair. But he needs the help of a club in the form of a stringent statute to back him up. » » 8 S another huge relief. appropriation is about ¢o be made, it seems timely to mak® some effort to tighten up on WPA administrative practices. The Byrnes Senate Unemployment Committee found that some 60 per cent of its. WPA relief workers in several cities were two-timing by working at private jobs on the side—while less fortunate unemployed could not get even a WPA job.

But the Byrnes Committee suppressed any real investigation of weaknesses in WPA. Senator Lodge, a Republican member of the Committee, asked Chairman Byrnes to call as a witness a former WPA employee who wanted to make some charges. A number of other persons wished to be heard with complaints. They were at first invited to appear and then Senator

- Byrnes canceled the invitations and refused to hear

them, : : : Senator Lodge is protesting against this suppression. work relief to be a permanent policy of the Federal Government ought to be the first—instead of fhe last —to want to find the bugs in it and improve its performance.

Business By John 'T. Flynn

New Deal Taxing Policy Is Cause Of Progressives’ Dissatisfaction.

EW YORK, April 27.—One of the most serious |

jolts the New Deal has gotten is the defection of the La Follettes—Governor Philip and Senator Bob. How serious a jolt of course is evidence in the vote on the Reorganization Bill where the shift of the Wisconsin progressives caused the defeat of that measure. But now we see that behind that shift and preceding it was an apparently settled break ‘with the Administration by two real progressives who have stood dauntlessly by the President from the beginning. The cause of the defection may be searched for in some misgivings that have appeared lately in the mouths of other progressives in Washington and New York. They say, as Governor La Follette has said, that nothing fundamental has been done to deal with the situation. : . The subject of taxation seems uppermost in the minds of these progressive malcontents. I have heard said a dozen times in a week what has been repeated over and over again by this writer in the last four years, that, despite all the blather of the New Dealers about the concentration of wealth, the New Deal was not only doing nothing constructive about that but was actually adding. to it; that the tax system was so clumsy that as fast as the Government poured recovery funds into the system they flowed into the hands of the people with large incomes. ~The only way to prevent it or correct it would be by means of a sound tax system. Instead the tax system was made the football of politics.

Faces Powerful Revolt

The result is that we have an essentially bad tax system and we have a new collapse with an enormously enlarged public debt and along with that most of the funds which were paid out in relief have gradually percolated into the hands of people with incomes ‘large enough to save them. And’ this does not mean the millionaires or the economic royalists, but all those people whose incomes are larger than $10,000. Tn Thus at this moment the New Deal faces a powerful revolt from the old line, orthodox party politicians on the one hand and the loss of confidence on the part of the progressive elements who feel that the great progressive opportunity was thrown away. = The practical politician will try to figure out how the Administration, which is moved always by political motives, will turh—to the right or the left. The answer to that question must have a great bearing on reform, on business, on politics. My own guess is that

" the President will drift slowly to the right in so far as

he drifts in any direction, but that

mostly he will tend toward inaction.

A Woman's Viewpoint By Mrs. Walter Ferguson :

F women did not have a sense of humor they could not bear up under their many tribulations, Strange to say, the cruelest torture is inflicted upon us by editors, nice as they are and eager as they are to please. In all our vast domain there is scarcely a single paper which fails to include a health column in its pages. And the health column’s main emphasis is on a balanced diet. The dangers of overeating are put constantly before us. Now. and then, when things are especially doleful, life insurance statistics are trotted out to scare us into counting our calories; Also the most beatteous damsels of screen and, stage pose to prove how lovely we could all be if we would only follow their regimen. ~ PL And every day I do so resolve. While I absorb the edifying advice, I am. grimly determined to exer-

cise caution at the dinner table. Then at the precise |

moment when my will is firmest I turn to the adjacent columns, or perhaps to the next page, only to be greeted by pictures of luscious and fattening foods. A cooking school is in progress, perhaps; x ine experts have tested out a few more glamorous shes. my good resolutions flatten out like so many fallen pancakes. doughnuts, flaky pie-¢rusts, cheese. balls, new salad

dressings, crunchy cookies and whipped-cream: des~ | >

serts.,

It would require the moral fortitude of & a i

Anthony to withstand these persuasive: verbal

pictorial descriptions, and I'm convinced that very Being an addict of both food section, I 8

sex can do s0.

COLUM

Those who believe in WPA and who expect.

So with mouth watering while I read, all | Before my eyes dance tempting visions of :

THE INDIANAPOLIS TIMES | Calling All Fords—

Calling All Fords!

— WEDNESDAY, APRIL or,1038 | § Gen. Johnson Says—

Let's Have Peace! = There Is Not Enough Left to Fight Abeut in the Wage-Hour Bill or the Tax Measure.

ASHINGTON, April 27.—The difference between the proposed Senate tax bill, on which business

was ready to go to town, and the compromise pro=-

posed by the conference committee, isn’t worth talk ing about. The Oliphant ideas of taxation for regulae tion of business rather than revenue are out on their

ear, They are out notwithstanding that the Presi-

dent unwisely used the influence of his great office to preserve them, notwithstanding the opinion of the country and the obvious conviction of Congress that the whole idea is a destructive blunder. Business and the country should take heart. What do they care about humiliating the President? All they want is a chance to go. Instead of bewailing the loss of the horns with the hide of what was expected, they should accept this hopeful and constructive victory of democracy gs far better than any conceivable alternative. The principle of taxation for revenue rather than for revenge or regulation has been vindicated by the people and the Congress of the United States, ‘There could be no more constructive political development from the viewpoint

| of democracy.

The Hoosier Forum I wholly disagree with what you say, but will : defend to the death your right to say it.—Voltaire.

‘LAUD ADMINISTRATION OF SULLIVAN . : By Mr. and Mrs. James E. Butler Jr. The personal dislike of a Chief of Police, a County Treasurer and a County Chairman recently brought about a circus-like exhibition of goats in a pen at the Marion County Jail, : Thousands of civic-minded citizens resent the brazen attempt of a politician who adds insult to injury by trying to clown his way to the office of Mayor. . al In view of the above situation an numerous other incidents that good citizens much rather forget than remember, we personally are grateful for the opportunity to support the candidacy of Mr. Sullivan, whose present campaign reflects the dignity of his former administration that has wreceived the unreserved praise of both the Republican and Democratic press. = As for the past performance of Mr. Sullivan, who was never selfseeking and at no time used his office to further greater political ambition, Indianapolis justly says “Thanks for the Memory.” = : 2 nn. = 4 BECKWITH INDORSED

FOR CITY COUNCIL By James M. Gates Being interested in good economical government, I have in mind a man for City Councilman from the Third District. He is one that all factions can unite- upon: I have known him for a number of years. He is an able lawyer and he will stand for economy and a square deal at all tiles. 1 believe the Republicans will win a great victory in November. The one I am indorsing will add strength to the ticket—Frank R. Beckwith. 2 E = BELIEVES MARRIED WOMEN SHOULD NOT HOLD JOBS By Mrs. B. F. J. Last summer my son and daughter tried to find work, but neither was 18 years old nor had a high school diploma. Now they have both, and still cannot find work. Why doesn’t our President or Congress pass a, law that as soon as a woman gets married she shail quit her job, My daughter can get work doing housework and taking care of married women’s children for only $2 a week. Why are so many young people getting into trouble? Just because they cannot find work. 2 » 8 TRAVEL AGENCY HEAD EXPLAINS POLICIES By Charles H. Cooper, President Cooper’s Tours and Travel Service : With relation to your United Press article appearing in The Indianapolis Times March 28, relative to passengers seeking transportation in

(Times readers are invited to express their views in these columns, religious controversies excluded. “Make your letter short, so all can have a chance. Letters must be signed, but names will be withheld on request.)

-—

private sedans, .we wish to call your attention to the fact that. the Cooper's Travel Agency does not book transportation with itinerant otorists, and neither do we book ant passengers. The agency will grateful to leave the

The agency operating under direction of the terstate Commerce Commission, bigeau of motor carriers, and has been ¥ three years. Both passe car owners are required to the agency with references. » » ” SAYS REORGANIZATION, OF GOVERNMENT DUE TO COME . By 11th District Voter " Defeat of the Reorganization Bill is a victory for the continuation of hodge podge government. - Some of our business institutions may be as conglomerated in their organization as the Government now is. If they are no. better organized they will

‘wind up under 77B in bankruptcy.

The taxpayers’ purse is no gold mine that holds inexhaustible treasure for Government to waste. Sooner or later Government reorganization on sound business principles must take place. The day will come when the masters will be swept out. Propaganda machines will be. ineffective when

LOST CARGO By MAIDA L. STECKELMAN

1 sent them sailing, one by one, And watched them meet the setting

sun, Then drift into the realm of night— Dream ships sailing out of sight! Some held lovely thoughts and vows That fluttered gaily from their

bows, Others, too, held sacred plgas And golden winged memories; But the ship that sailed most slowly West . Held just your precious last caress; A lone cargo of love and yearning, Sailing out .. . and not returning!

DAILY THOUGHT

Nay, in all these things we are

more than conquerors through

‘Him that loved us—Romans 8:37.

TY OVE gives itself; it is not bought.—Longfellow,

v

we face a taxpayers’ strike. If was a

tea tax that produced the Boston Tea Party. It may be that our army of lame duck politicians on the public payroll will produce another taxeaters’ dumping party. Up to now the ruling economic royalists have had the taxpayer by the neck and they are safe again for a while at least. Ruled by a politically intrenched oligarchy and a producer-controlled economic mechanism, the consumer and taxpayer is in for a constantly

he kicks over the traces, by restoration of real competition and election of a Congress that is independent of political and economic. royalists. : : In the meantime we are heading

2 2 2 SAYS HAMILTON CONFESSED REPUBLICANS’ BANKRUPTCY By F. R. Mr. Hamilton in his reply to the President, rehashed everything the epublicans set out for bait in the campaign. Thus he confessed nkruptcy of his party in prerealistic constructive proeting the problems now

CRITICIZES RFC TO BUSINESS By W. H. Gen. Hugh Johnson says that th four-billion-dollar pump-priming now proposed is intended to purchase the 1938 election. Maybe that would be of some value, compared with the purchase with Federal funds of all the junk the Home Owners Loan Corp. took off the books of private corporations—not to mention the $3,800,000,000 the RFC loaned to private business and then wrote off as total loss. Maybe this is what is behind business’ loss of confidence in the Administration. : » ® » SAYS SPENDING PROGRAM ‘BEWILDERS WHOLE NATION By S. L. H. . John Flynn says Congress is bewildered by the recession and much in a fog about another dose of pump-priming from the Treasury. The whole nation seems to be bewildered about it and in as much of a fog as Congress. ray In the first place depressions could not occur if our laws did not permit the creation of fixed inter-est-bearing debt obligations. obligations are highly detrimental to a capitalist economy which must

80 it may quickly meet consumer resistance. Fixed interest obligations drain the production riechan-

ism regardless of its earnings.

LET'S

BLUE AND

EXPLORE YOUR MIND

By DE. ALBERT EDWARD WIGGAM-—

[ 7% erorny oF AEREDITY... THESMITHS DICK="DAD,HAVE HUMANS ALWAYS HAD BOTH BROWN EYES?" r!

and spread v from it, especially among the North European races and some North Asiatic races that

| have many blue-eyed individuals.

12

= ” 2 NO SCIENTIFIC study of this has been made but gestures should be used solely to illustrate and emphasize the speaker's thoughts. Daily experience surely shows that if none is used, the speaker loses in force and clarity,

but if too many are used it is worse because : they confuse the listener.

of following: the thought. I have

‘la friend who gestures so much I

just can’t understand her unless I can either hold her hands or indu

e & un

C10 DI

declining standard of living until!

It Seems to Me

By Heywood Broun for the same, sort of crisis that now |. - | faces France. :

These |

be very elastic in price adjustment, |

He watches the gesticulation instead |

| her to sit on them—former method | | .1é 8 '{preferred. Cf 4 A STUDY of this was m | by H. 0. Soderquist, psychologist, in | bed - |the Journal of Education Research |

tervals, at least every two..or there wil tion of .the body where the bones ‘surface, resulting in’ thé bed Kore

og | on

: 2 » »- ES, the Senate bill could have been - stronge armed to enactment. The House conferees were mostly as rebellious as those of the Senate. But in the present Presidential petulance, it would have been vetoed. We should have another summer like the

last one—a kilkenny cat fight—another season of stultified democracy. ar Something of the same horse sense should attend the question of the wages and hours bill. When I was. a kid there were still Texas longhorns in the cattle country. - With miserable little bodies not much bigger than a couple of antelopes, yet with that five-foot spread of razor-sharp horns, they were about the fiercest looking animals on the range—before they visited the dehorning chute. After that they looked like sick sheep. . The original Black-Connery Wages and Hours Bill was the most menacing, dictatorial and bureaucratio monstrosity ever presented during the whole New Deal. It has been to the dehorning chute twice. I am astonished to read the result in the new Norton bill, I am an advocate of a proper wages and hours bill In that capacity, I would never approve this half-pint dilution of watered milk. It is just a gesture, and a& palsied one at that. : 8 w=

T is too late in the session and too near election to work out an acceptable bill. But, if the President’s Dutch is up and can be coaxed down by passing this pap for petulance, nobody but a political jockey= for-position could: object. If I were John Lewis or Bill Green, I would object. As a newspaper coms mentator on a subject of his specialty, I do object. But as a businessman interested in seeing our prose perity return with the least present interference from Washington shindies and spite feuds, I would say: “Boy, if that thin gruel is all you need to save your face—take it and pax vobiscum.” “Peace”—that is what is needed for recovery more than any other dosage—peace between business and Government, management and labor, the people and

“the President. There is not enough left to fight about

in either of these measures to continue war, 3

Your Columnist Would Have a Law ‘To Prohibit Autograph-Seeking.

EW YORK, April 27.—The next time the New York Council meets I intend to urge some pro=gressive to introduce an ordinance. And it will read: “Anybody within the confines of the Greater City who solicits an autograph shall be liable to a fine

. of mot less than $10,000 and not more than 45 years in

jail.? -- .. ‘ia . I speak out of no personal bitterness. Autograph hunters do not assail me. For a. time, in order to-en= courage trade, I made a practice of supplying a photo= graph and 5 cents for a cup of coffee. And even so,

{| I failed to lure many.

. But yesterday I saw the pack in full cry, and it is a terrifying experience. It so happens that I know Charles Butterworth. Indeed, I knew him when. In

.those days Charlie had nothing but a dead pan and

a monolog of his own composition. : ‘By now Charles Butterworth has become a star ol stage, radio and the silver screen. I read in the papers shat he was pausing briefly in New York on his way to Lomdgn, and on the chance I called him up. It ‘was a little atficult because I had to send my name through two valets mid a personal secretary before I got him. When I got te him he was affable and as democratic as Thomas Jefferses We sat for a few minutes in his Private solarium discussing the development of the Americam~drama. But something was lacking. I missed the roar of crowd. J ; “How about going down to the bar, Charlie?” I suggested. He gave me a frightened and a furtive look before he consented.

Attack From All Sides : ‘ “Has -the lad gone dry or high-hat on me?” 1

thought, but his apprehensions were well founded. We

had not been seated more than two minutes before an urchin peered through the window and said, “Charles Butterworth!” The Zulus were upon us. The autograph hunters sprang up from the very paving stones. I have 50 fountain pen scars in my right shoulder blade to prove it. : Grabbing the star by the wrist I said, “Quick, we can cuf our way out. I know a hideaway.” I took him to a dour and dignified club. As we

‘came to the second cocktail Mr. Butterworth said,

“Let me sign for this.” I brushed him aside and re= plied, “This is my club. You can sign nothing.” : But when I turned away for a moment to get a cigaret I found Mr. Butterworth laboriously writing out his name. Impatiently I cried, “Let me do that.” “I'm sorry,” said Mr. Butterworth, “but I'm afraid you can’t. The waiter wants my autograph for his

little grandson who listens to me every night on the

radio.” ; :

By Dr. Morris. Fishbein Sari Rp

HE occurrence of a cerebral hemorrhage or stroke Ts now much more frequent than it’ used to be, simply because .people are living longer than formerly. wo snip d The occurrence of a stroke in an older person is always a serious matter. It has been customary, when this occurs to raise the head of the patient, put on an ice-Dag, lower the feet and keep them warm. There is no telling whether this: custom really saved any one’s life by stopping tiie hemorrhage, but it is difficult to stand by and do nothing when

-

an accident of this type occurs. ~~ Ei ~ One thing that must not be done is to give any kind of drug, treatment, of movement that will raise the blood pressure and increase the likelihood of fatal hemorrhage. Te 1 mE In the daily care of the patient who has been after brain hemorrhage, it is particularly EL fy for soap and 'Y is’ n or cleanliness and for the avoidance Dita

if foquent inv ours, so ; Il not he-continuous pressure on any pornes are next fo the pdssible_ development, of a.

b, with the helps

ax