The Des Moines Register from Des Moines, Iowa • Page 6

PAGE 6 THE DES MOINES REGISTER FRIDAY MORNING, JANUARY 19, 1934. Wnrlrl in RtHlTH Wyt Pf I Blow By Walter Lippmann all to the end of insuring control with the minimum of investment Operating companies have been bled white too many times. Investment values have been "writ A Managed Currency Pnbllhit every week div mormni hi SUE REGISTER AND TRIBUNE CO. 713-715 Locuit Street. Entered at the postnffice ol Oct ilolnea, ia, ae Hcono ciaea matter.

ten up" too often and too magnlfl cently. less it was, in the disastrous period from 'moving seems clear, and the world will do (The )m Moines Leader, KstMlllahed. 1K4U.) (Thn low Miata Kj-tiatar, fcelablished. JHfjd. I well to act accordingly and not make the The president's policy may fairly be described as the first definite action taken anywhere in the world In the Insull case and some others it was reduced to a gigantic The Women of Burma.

BY HARVEY INGHAM. "A Burmese woman has a ownership in her husband'a jr erty, Inherits the whole of death, and has the right lj marries again to retain half the rest going to his chUd She Is mistress of the home kt the family purse, and Is a rJ? and careful housewife, grades of society It her il to give personal attention to tZ household cooking, to the eareiJ her and to the im Burmese people have Inny names but no surnames, ami therefore, a woman doe change her name on marriage Dr. Ma Saw Sa at Womi Freedom League club in Lend racket. The report of the federal power commission a couple of years ago to the effect that federal regulation of interstate holding companies is "absolutely essential in the public interest," and that regulation must include real access to since the financial col-lapse of 1931 to reconstruct an International monetary system. By taking a commitment to hold the dollar between SO and 60 cents gold, the dollar becomes the first international currency which has some publicly known relation to an objective measure of value.

KI RMKII'IIIIN lUTM. BY MAIL. IN IOWA. Dally Reflster One year. IS: ahnrter p-rloda than nna year, SO cents a month.

Sunday Register Una year, shorter perloda than nna year, GOc a month. BY MAIL, OUTBIDS OF IOWA. Dally Reenter Ona ytnr, $t)i perloda laaa than ona year. 60 centa a month. Sunday Register On year.

periods laaa than ona year, 60 centa a month. BY CARRIER DELIVERY. IN UK8 MOINES. Sally Beilster. Daily Tribune and Sunday Httntrf thirteen papera a week 25 cant a waak.

OUTSIDE DES MOINES. Dally Reueter 15 centa a week, pes Moinf-a Tribune 15 centa a week. Sunday Regular 10 centa a week. accounts and records and supervision of contracts between hold 1925 tO 1931. The gold standard has to be managed with two objectives in view: one Is to attain and maintain international prices at which the primary producers of the world can prosper; the other is to keep national currencies reasonably stable in purchasing power within each country.

In so far as exchange rates have to vary in order to permit Internal prices to be steady, the decision to let them vary has been taken, if not by all bankers and all experts, most certainly by the democratic peoples. The presidents monetary policy expresses this decision. The management of gold' itself ought theoretically to be International. But it never has been, and experience would seem to show that the leadership in management has to be taken by some strong financial power. Until the war Britain had the leadership and did the managing.

Controlling about three-quarters of the world's gold production, being the leading creditor nation, ing and operating companies, sim The president has, to be ply defies refutation. sure, prudently kept a FRIDAY, JANUARY 19, 1934. Let it be repeated, no judgment free hand within relative lippmann. DECEMBEB CIRCULATION ly wide limits. The difference between 60 NET PAID.

248,967 REGISTER AND cents and 50 cents is a spread of about 17 hostile to the management of the local utilities is here being expressed. The local companies are TRIBUNE Daily In Dai Wotnea, dally 110,70 In Dai Wo per cent in which the dollar could be depreciated from Its present value. But, DKS MOINES Sunday 230,1 11 nevertheless, It Is a definite Bpread. In Dea Moines, Sunday 44,6.11 Other countries now have something in not responsible for the development of a potentially vicious holding company system, even if they chance for the moment to have a little of the spotlight as an Illus Mora dally rtrrulatlnn In Iowa, than the Sext 10 Iowa newspapers comhtned. More Sunday circulation In Iowa than exercise permanently? I should think not For history and common sense alike tell us that this is too much arbitrary power to place permanently in a man who is the leader of a party and necessarily concerned about elections.

On the other hand, it is not a power which can be entrusted to private bankers, certainly not In a modern democracy. The problem Is not easy to solve. But we can get some light on it, I think, If we realize that in normal times whoever manages the currency must, as a wise banker has put it, be doing always the unpopular thing. When a boom starts he must take steps to deflate. When depression starts he must take steps to inflate.

When the public is becoming too optimistic, he must be a killjoy. When the public is pessimistic, he must be bold and confident. This is the essence of central banking and currency management. Now our own experience has shown that we have not yet found that College of Vestal Virgins fit to carry on currency management. In 1928 and 1929 the politicians in Washington would not permit deflation which was then urgently necessary.

In 1929-'32 the commercial bankers who dominated the reserve system were too frightened to inflate boldly. The result of both errors waa disastrous mismanagement. WE HAVE ONE organ of government In the United States which is reasonably independent of politics and of the contagion of popular moods. That is the supreme court. As we go forward to set up permanently an agency to manage the dollar, it is something like the court that we have to contemplatea body of distinguished men to control the bank of Issue absolutely withdrawn from money making of any kind, out of the reach of partisan politics, and with prestige so great that they can act without fear or favor.

Such agencies are not to be created out of hand. They must grow and earn their reputation. Perhaps it can be done. For it is what needs to be done. the nature of a fixed standard by which they can make their own revaluations.

They have not had this hitherto. They have had the French franc'and the British S'l otnir Iowa vunday newspapers com inert mistake of assuming that this administration has not the initiative and the courage to work for the objectives which it has announced. THE MANAGEMENT of gold is something for the future. It is promised by implication, but it is not yet put into effect What is put into effect is the management of the dollar for the purpose of raising and then stabilizing American prices. By revaluing our own gold, the president has made a gold base for credit-currency expansion that Is potentially enormous.

Obviously that expansion has, therefore, to be firmly and carefully controlled. That the administration is aware of this problem is shown, by Secretary Morgen-thau's announcement that the "gold profit" will be kept in reserve and not spent. This is a very important decision and a very wise one. For it means that the inflation of credit which will come from the financing of the government deficit will be under control. The bank reserves will expand no more than they are able to contract.

If this principle is adhered to, we should be able to have all the internal inflation we need without ever lacking the means to stop it. The matter Is technical but of absolutely first importance if we are to avoid a credit inflation within the next few years as great as or even worse than 1929. HAVING TAKEN these decisive steps Into a managed currency, it is essential that we begin to think about who is to be entrusted with the actual business of managing. In principle, of course, this enormous power over the fortunes of the whole nation must necessarily be vested in the government. Bflt the real question is: who is to exercise the power of the Clearly it is impossible for congress to exercise it; were congress to assume to decide what to do about the dollar from month to month or even year to year, the result would be bedlam.

Is this a power that the president can A bureau of Accuracy and Fair Flay organized to assure in every as I. ease prompt and immediate atten tration or now companies are hooked together. fipeaklng in general, the gigantic utility holding companies have all got to be brought under supervision and control. Hon to any complaint is main tained by The Register. It is open What centers attention on thi women of Burma is the fact that Burma is demanding separation from India in the British govern, ment and is likely to be grants its demand.

Burma is on the tu shore of the Bay of Bengal anj only touches India incidentally, Moreover Burma has about font times the area of Iowa and a popu. lation of more than 14 milllom, Kipling's famous Mandalay is a Burma. Dr. Ma Saw Sa who-Is quoted above was in London as a Bur. man delegate to the independent conference, invited by the BritUh government, and it is said she "roused the envy of her hostesses" tt)ry day except Sunday.

The Reg-titer will 0Ja correct any error. Member ol Th Associated Press. The Associated Rresa la exclusively entitled to th uaa for republication of all newa dlsnatrhee credited to it or not otherwise Credited In Ihla paper. And also the oral newa published herein. All rlghta lareln also reserved.

possessing great technical experience and actuated by intelligent international purposes, Great Britain managed the gold standard. SINCE THE war she has not been able to manage it, having lost her predominant creditor position. Gold, therefore, has been at the mercy of speculators, of hoarders public and private, and of nationalistic politicians. If- gold is to be made serviceable again, and is not to be an affliction to mankind, the strongest creditor power must take it In hand and manage it. The nesponsibility seems to be ours, since we alone have the financial power, though we may lack the financial experience, that Is required.

With American resources of credit and with the1 American command over the only precious metal which is an equivalent for gold, namely, silver, the necessary tools exist with which to force down the value of gold, raise International prices, and then keep them reasonably stable, That this is the direction in which we are pound. The franc is not a truly International currency, It Is, moreover, on the present value of gold, overvalued, and therefore inherently uncertain since nobody knows how long the French nation will choose to endure the ordeal of deflation. The pound is an international currency and is serving reasonably well a large group of nations. But it is a paper currency secretly managed In London on no known principle and with no definite commitments. The Roosevelt dollar is, therefore, the first of the new international currencies whose value, within limits, is publicly and legally fixed.

If the world desires a metallic money standard, here is a foundation on which it can begin to build. IT SHOULD, however, be understood that the American policy does not mean anything resembling the automatic gold standard, It is doubtful whether any such FEDERAL DEFICITS AS ASSETS FOR BANKS. Edmund Piatt, onetime vice gov-ernor of the federal reserve board, is one of this administration's most persistent financial critics. In his critiques, he evinces an active distrust of all these moves to tamper with the oldfashloned ideas and principles on which he was trained. Writing to the New York Times, CRACKING DOWN ON THE GET-RICH-QUICK BOYS.

Hardly had the word begun to spread that Arthur F. Mullen, Democratic national committee man for Nebraska, was making a "cleanup" by practicing law In Washington under the new deal, and that other Democratic leaders Mr. Tlatt raises an Interesting point with reference to the federal deficit and the plain necessity to standard ever existed In modern times un from various states were doing likewise, than President Roosevelt float large bond Issues In the near future. He quotes a reserve board contemporary, former Secretary H. The Washington Merry-Go-Round Parker Willis, to the effect that "government deficits are not prop er assets for commercial banks." cracked down on them.

By indicating that he didn't believe In using political prestigo and supposed political closeness to the administration as a leverage to get enormously profitable legal business in the nation's capitalbusiness conducted partly before departments of the government Itself the president has Sir Ronald Is son of the twenty-sixth department, to pull the prize move The suggestion is that the banks of the country should not be made Earl of Crawford, a most against it, BY DREW PEARSON AND ROBERT ALLEN working on changes in the Securities Act. They want to permit a freer flotation of bonds when money loosens up Some of those who oppose them, such as fearless Jim Landis, federal trade commissioner, think that with an easy money market the safeguards of the Securities Act become all the more necessary. Scotsman, and, according to some of his The Standard Oil has been of ferine base- (Editor's NoteThis is the latest gossip in Washington, some of it as yet unverified.) WASHINGTON, D. the of pr. Grau San Martin as president of friends, inherits some of the attributes of Its financial agents for the mar ketlng of its bonds.

There is a fairly recent prece that race. of the Women's Freedom League when she spoke of the position woman already holds in Burma, But the women of Burma do not have the political rights the doctor feels ought to be conferred, so she was in London to ask that they be given a proper position In the constitution, and to urge upon the women of Britain to stand by her. But the three women In the London conference who spoke of. ficially were the Rajkumari Amrit Kaur, Dr. Reddi, and Mrs.

Hamed AH. Of these the Rajkumari, who incidentally is a keen tennis player, after relating the various pro. posals that had been made for limited woman suffrage, concluded: "We advocate adult suffrage In urban areas. This would bring the numbers of women voters to about one in every four men, the proportion recommended by thi Lothian committee. The intelligent vote is coming, after all, from the urban areas, where women are working, and will not cease to work, for social and educational reforms which will directly affect the women of the rural areas." What this is likely to call tention to on this side of the ocean is the part wo'man suffrage played in the recent Montevideo conference in South America.

Much hat ball bats, gloves and balls to the back-lot kids who someday aspire to be Babe Ruths. In fact the King of Swat, himself, has been giving away these weapons of the At any rate, after the pork-whisky forced some Of these gentlemen to negotiations were concluded, Mr. Moore, dent in history to add weight to Mr. Piatt's uneasiness. While the diamond in connection with a broadcasts choose between quitting either their lucrative new legal practices who comes from Virginia, sent Ambassador Lindsay a memento In the form of a large and deliclously cured Smithfield ham, the war was being financed, banks were loaded down with Liberty bonds.

They bought on their own account, and also had to take over the subscriptions of customers who Cuba was state department by-plajr not known to the outside world. His resignation followed a cable to the state department from Jefferson Caffery, 'Roosevelt's personal representative, bearing out all that Ambassador Welles had said about the Grau regime. Previous to his departure, Caffery had been uncertain regarding the failed to meet their payments. By Word from the west Is that the higher price of silver may bring disaster to the lead mines. This Is because silver is produced as a by-product of lead.

And If silver Is produced In large quantities, lead may become a glut on the market, suffer a price slump. DOLLAR JUGGLING WINS. No matter what the future effects of dollar devaluation, one political effect is definite. Roosevelt's dollar Juggling has absolutely pulled the punch of the printing press money crowd. They can get no one to listen to them now.

The' most violent disagreements in the entire Roosevelt administration occurred or their political posts In the party. Bo far Mullen has not resigned. Hs claims his case is "different." Maybe It is. But the general proposition is not affected by that. For this stroke of political sagacity and manifestation of ethical sense the president Is entitled to public approval.

And let nobody think for a split second that he won't get it. This administration makes much of. Its purpose to reform business 1920, nearly all the Liberty issues, bought at par, were being quoted in the 80's and, as money tightened, banks had to dispose of their bonds with serious losses to themselves. Some institutions were permanently crippled in the process. This historical passage does sug Lii.

advisability of recognlz- ORAit. Ing Grau. Grau, knowing this, stood out against earlier suggestions by Welles that Cuba form a coalition he puts on the air for the oil company. Mr. Margold, who once fought valiantly for the lives of Sacco and Vanzetti and was "dropped" from the Harvard Law faculty for his pains, now claims that Babe Ruth's gifts to the kiddles are in violation of the fair trade practice provisions of the oil code.

Margold has brought federal court action to prevent further giving, away of bats, gloves or baseballs. MONETARY MERRY-GO-ROUND. Most of the four billion dollars in gold which now becomes nearly eight billion dollarsis located In the New York and Philadelphia Federal Reserve banks. The treasury has been working for months on installing vast subterranean vaults below Its floors to house the gold supply of the country. However, it develops that not much of the gold will be moved to Washington at least for the time-being.

Now that devaluation is a fact, the foreign nations which once yearned for it, are singing another song France, especially, is worried by the prospect of American funds going back home to take advantage of the stabilized monetary situation. In preparation for the return of the dollar, some of Morgenthau's men have been government. finest he could obtain. In return, Sir Ronald sent Mr. Moore one bottle of Scotch.

FEDERAL INSURANCE. More than a quarter century ago, Justice Louis P. Brandels, then a crusading reformer, exposed the mal-practlces of several large insurance companies and forced, through the Massachusetts legislature, a state-operated insurance system. Today, New Dealers are studying this highly successful experiment with a view to having the federal government do the same thing on a national scale. Advocates of the plan claim it would pour hundreds of millions of dollars annually into the government's coffers which could be used for recovery expenditures.

Representative David J. Lewis of Maryland has taken the initiative in the movement by introducing a bill giving the treasury wide powers to sell government life Insurance. BAD BARE RUTH. The mighty Standard Oil Co. of New Jersey has run foul of the government on a lot Of things In Its day, but it took Nathan Margold, Inquisitive solicitor of the over monetary policy, and yet advocates of Finally, however, Caffery substantiated the two extremes actually came close to and finance, For It to allow on its own doorstep by its own eminent and officially recognized partisans this flourishing get-rlch-qulck scheme would have been deadly, agreeing in principle.

Agreement on execu Welles. He reported the Grau dictatorship worse than Machado's, that the United States could not give It the stamp of approval through recognition. tion was their trouble. Both sides agreed that the national and individual debt burden was too high. But If unchecked, when the facts got out.

The mere fact that this game where the conservatives wanted to cut Two days later, Grau resigned. SCOTCH. Recent Anglo-American negotiations for has been played long and success debts in half, the radicals wanted to double the nation's money supply. The effect was fully by men of both parties is at gest the need of caution in handling the 10 billions or so in new borrowings that must come in the next couple of years. They should be marketed In the greatest degree possible as Mr.

Piatt suggests to that portion of the Investing public which Is not likely to have to sacrifice for the sake of quick sale. But there is one factor not mentioned by Mr. Piatt and not present in 1020. The doctrine of laissez falre has been put considerably out of countenance by this administration; it would not be likely to feel, best a poor excuse. an increased quota of Scotch whisky In exchange for greater British imports of been made of the part Secretary Hull played In opening up the tariff debate with our southern neighbors, and the part President Roosevelt played when he assured our southern neighbors that the United States will not forcibly interfere In their domestic conceriu from now on.

But what will probably be the most far reaching result of the conference will be this section of the treaty: "The contracting states agree that from the going into effect of this convention there shall be nn distinctions based on sex In their law and practice relating to nationality." Curiously enough it was ths United States delegates who stood in the way of the ratification of the treaty, until President Roose The politicians, both his own and those of the opposition, will American pork were conducted, In part, exactly the same. The president stood with the latter. He reasoned that In playing poker it was a lot easier to increase the value of the chips, than to write down their value. (Copyright, 1934. by United Feature Syndicate Inc.) between Sir Ronald Lindsay, British ambassador, and R.

Walton Moore, assistant secretary of state. secretly and quietly take off their 1 bats to a president who is as "fast i en his feet" as Roosevelt has been (aln. HOLDING COMPANIES IN THE UTILITY FIELD. New York Day by Day BY O. O.

M'INTYRE as did the authorities in 1920, that there was nothing to be done except to stand open-mouthed and watch the bottom fall out of the Local power, gas and light com Thoughts while strolling: That revue panies, all intermeshed, have velt sent word to ratify, after Jeering Radio City better take another government bond market. i got Into the newa of the federal trade commission's investigations which the action of the Pan-Americans was unanimous. Th reason for this holding back on th of utility holding companies, their It seems to be generally recognized now that there Is no law against stepping in and doing something when such catastro earnings, and so on. THE OLD ASTOR theater has for years specialized in stupendous signs since it went cinema. It is now exploiting the biggest single starring splash ever seen along the street.

The entire front is blazing in a rainbowy jet G-A-R-B-0 in shimmery semicircle. Greta's first name no longer matters. She has, in the cinema world, taken her place with Duse and Bernhardt. Or at least so Hollywood thinks. THE NOVELIST Louis Joseph Vance had With the figures given sa to phes happen.

their earnings, back in the admittedly very favorable year of 1030 part of our northern delegates was that our two big women's organizations, the National Woman's Party and the National League of Woman Voters were at outs with each other, the one strongly supporting the treaty which had been looksee. Always know a western clerk by his "You bet I will." The silky satirist Fred Keating. Cab Calloway and his blue chow, "Smokey Joe." The old Plaza cabmen are worthy of a Currier and Ives. One word description of Fifl D'Orsay ty. Every hotel seems to have a cocktail hostess.

Wonder if other non-smokers we need not at this moment get pay! Park avenue has become a bedlam. One of my favorite people Elmer Oll-phant. Judith Anderson and Mrs. Lisle Bell could pass for twins. And if anyone else tells me I'm a double for Ned Sparks I'll fume.

He's a good looking guy. But I'm kind to animals and a wizard at guessing games. May Quirk has the laughingest eyes. How middle-aged Yascha Buchunk looks in the orchestra pit! In close-up he's a juvenile. But the biggest fooler in a near view is Douglas Fairbanks.

He's not much bigger than A. C. Blumenthal. Whenever you see a pair of feet and a big cigar, It's likely Dave Stamper. MOST PEOPLE whose fare become familiar by constant repetition in public prints often discover there Is still confusion.

Christopher Morley in one of his essays tells of being approached on a train by a for many years fallen to sleep over his written by Dr. Alice Taul, founder after dinner cigar, especially after he had; of the woman's party, and the dined well. Three conflagrations weretother onoosinsr It. one of the lead SO FAR AS I KNOW, New York has only one enormous St. Bernard dog with tired looking Wilton Lackeye eyes.

I see it walking occasionally with a priest in the Yorkville section, lumbering along lazily and totally oblivious of the fiesty little pooches that always rush out to snarl at an oversized dog. MY CHIROPODIST from Harlem trlls of a customer whose face was vaguely familiar. He finally confided she resembled Ethel Watters. "That's no compliment," she sniffed, "I'd rather have anybody's face than hers." There was a coolness for the rest of the visit, for Miss Watters Is the high yellow favorite. However, conforming to office custom, he asked for her name and address.

The card read: "Ethel Watters, No. Seventh avenue." And she went har-har-haring out to her Lincoln. A NEW RINKLE In the Broadway ballyhoo has an Atlantic City boardwalk tang. Up side streets from the barny after repeal type of dinner and revue places are roller chairs with customary rachitic pushers. Banners along the side proclaim: "Free ride to Soandsos." 'And now and then a couple is tight enough to be rolled away.

slii'avi rnrrv att'nv nrtl nf those free folders of M'INTTHE. matches, too. Anyway Teaches Browning OPPOSE GRAZING IN NATIONAL FORESTS, Harry McGutre, editor of "Outdoor Life," chooses a timely moment to revive the drive he opened several years ago to put a stop to the practice of leasing national forest tracts for sheep grazing. Fees received for grazing privileges, he says In the February number of his magazine, are insufficient even to pay the costs of administration. In addition to that, close grazing promotes erosion, kills seedling trees, starves out deer and elk, spreads disease among bighorn sheep, denudes the ground of cover for such birds ers of the National league saying the treaty is "a very nice expression of principle, but means absolutely nothing." But the treaty was adopted, and If it comes to nothing more least it has this significance that it is the first treaty adopted international action to be drafted started in one apartment where he lived and all his carpets and furniture were seared with scorching spots.

The late Arnold Daly, who died in a similar holocaust, did the same thing for years. A further coincidence is that both Vance and Valy were among few Americans to wear monocles. i NEW YORK lives with blinds up. Back Is rosy around the gills, Nobody seems to enjoy life more than that Rlalto physician, Dr. Leo Michel.

The suspended animation and eddy of self-consciousness when someone cries by a woman. home every home had a darkened room. 'Stop thief!" I'm always forgetting to ask Attention naturally turns to th it. whs me parior, wmcn was'situation in flermnnv u-here worn- young man who asked him to settle a bet. He-said: "I said you were Mr.

Morley but my friend said no: he said you don't look a bit like the pictures in the book ads." "It's an Ideal bet" replied Morley, "for you are both right." heatedly concerned. No doubt we shall hear a great deal more about that, since rates make such a delectable political Issue. But this part of the testimony ef Examiner Adams before the trade commission in Washington I Wednesday gets at what may be assumed to be the commission's I main interest: Q. So we find that In this instance the Des Moines Gas is underneath tho Iowa Power and Light and the Iowa Power and Light belongs to whom? i A. It is controlled by the Dcs 1 Moines Electric Light company.

Q. And that in turn is con-' trolled by whom A. By the Illinois Traction Company. Q. And that A.

By the North American Light and Power company. Whether or no this Is a "typl-: cal" illustration of holding company control, as the commission Is reported to regard it, at least it calls holding company control to mind. And even if the set-up In this case can shown to be clean as a hound's tooth, as to every never opened save Christmas day and in public affairs does not seem somebody who would know just what is genius. France beginning to belly-ache about poor U. S.

wine sales. So you won't to be part of the Hitler program. the silk-hatted traveling optician made his yearly call to fit grandma's spectacles. as grouse, destroys the eggs of Of course If the rcichstag is to be adjourned for good, and popular elections are to be held as the last one was reported, male suffrag ground-nesting birds and subsidizes a needless addition to the LETTERS FROM THE REGISTER'S READERS will not play a very important already burdensome surplus of wool and mutton. THE V.

S. MONETARY POLICY. week. Let the small merchant; lobbyists to camp there in behalf1 part In Germany, to say nothing of work out his own problems, andjof bie E. Roll.

rwJ female it one of ths On the other side, of course, the To tha Editor: horn, curious facts of the situation wo practice pleases sheepmen, who are When the government sells the future monetary policy of the government remains an enigma and national Indebtedness mounts and there Is talk in high places of capital levies and redistribution of wealth by taxation? John W. Agnns, Mystic. St'RPLl'S POPULATION, operate as long as he sees fit, when he has a business not large enough for hired help. I'm strong for the NRA and the under-dog. F.

M. Coon, Manson. THE MANNING DECISION. 000,000,000 worth of bonds to meet the national deficit will not that amount of capital be withdrawn from productive enterprise? thereby enabled to graze their sheep at almost no cost to themselves, and It provides a few Jobs for the office staff and field men administering the permit system. are in that Just as among th peoples who have not had free government the tide runs towards broader democracy, among ths peoples who have had democracy the tide is back to autocracy.

To the Editor: Tho decision of Judge Wakefield in the Manning fracas goes to Money invested as capital in OUR GOVERNMENT. manufacturing, transportation, and My objection is to the advisability of extending the period of instruction at a time when pupils who are included In the normal period, from the ages of 5 to 18, are receiving inadequate instruction. Throughout the state and nation, secondary education has suffered through the overloading of teachers who have retained their positions. Would it not be better to obtain the services of unemployed teachers for relieving those who are already performing the functions of a normal society than to instruct- those who have never been included in the educational scheme? Ralph W. Childs, The government has already de The natural thing to say is that relation with the public, the fact show that justice has not left this it a reaction frora the war, all business continues to employ la bor year after year but money invested in bonds to finance the dredging of mud creeks, the build ls undeniable that we have got to cM to lcM or purchase marginal have in this country more effee lands for the purpose of withdraw-i.

rontrol of holding companies ltlS them from cultivation. It To the Editor: Sterilization seems to be the pertinent topic of discussion, hinged on birth control. Sterilization of morons of both sexes under scientific supervision is the only available solution for this surplus population. J. Sam Rowley, Tershlng.

irf th utility field, and probably might well consider the advisabll- ing of tourist hotels in the irgtn To the Editor: Our courts are often disappointing, but our federal government is worse. To know it is to despise it. It apprehends kidnapers, but cowers before bootleggers; protects the rich against the kidnap-j er, but goes back to Washington! when Negroes are treated like1 dogs. n. uy discontinuing this practice Islands, becomes static and old world, even if it looks that wars have been followed by the way sometimes.

To him who fights 'periods of reaction. The people the battle of his fellow men In who were deepest in the war hsv his community, as Manning has soured on everything they ones done we can say, "You have done professed and are getting as far wel1-" back towards primitive tribalism What makes it more sordid Is, as they can. On the other hand that people who received benefit the peoples that were least launder Manning, are addine their volvert in the war are still stirred which encourages the increasing of employs no labor thereafter. As Professor Ripley of Harvard, another type of agricultural sur plus, particularly if ceasing to no enemy of business interests, loaf ago pointed out, the holding company in the utility field, while theoretically of value in a leglti-mate way, has been used to pyra CW A FOR TEACHERS. And the interest upon these bonds will be a burdensome taxation charge upon business and industry for generations to come.

Who will care to build a factory or start a business If the major portion of the profit is to be taken grant leases, as pointed out by Mc Guire, would Involve an actual sav Ing to the government. THE SMALL MERCHANT. To th Editor: Concerning the recently devised It collects income from any but straws to the fault finding groups, by some of the prewar and even the rich; keeps marines in Nica- I was one member of the army'war enthusiasms, and are ready ragua for nearly 30 years protect- of the unemployed who went every 'for any new experiment along 'be ing American millions invested morning to the city hall where! line of a broader democracy. That there, yet allows criminal gangs; they were clamoring for work. It is why in all great war periods th mid control, break down proper The old guard never surrenders.

CWA project for unemployed the niton teachers I wish to make a few! General Johnson from the be- away by confiscatory taxation State supervision and keep the light out of managements. In prac Just at the moment it can't find the battle. pertinent remarks. I find no com-'ginning of the NRA has led us to We do not lack money nor do to violate and defeat the eight-! was wonderful to see him take warring nations have generally of we lack potential sources of credit, gone to seed while the banner tice, since the holding company craza began, it has been used to plaint with the theory of the proj-' believe the small merchant wouldenth amendment. (time to cheer them all.

We need ect which is, simply, to extend thebe protected. The small grocer, It refused the bonus marchers' more mayors like him to cut the fifiM nf ectllratlnn tn Inprtiri aHitttaf HontnMiniy Inreslv nn tniral hni-'rttrht tn t.aq.t b-j1 a Six dollsrs the quart seems but we do lack confidence. rather high old-age pension for Can confidence and consequent pile corporation on corporation -u i et---j HtaM ul-vu BdLiruiiru miT, vuurirs oirujiurcrir. progress has been seized by re peoples who have emerged Into world leadership. to intermix them hopelessly, whisky prosperity be restored so long as, and infants.

jness, cannot exist on a 63-hour grounds, yet allows 60,000 paldjOttumwa,.