The midland journal. (Rising Sun, Md.) 1885-1947, 1925-05-08

Field Marshal Paul Won Hindenburg.
Poland for guarantee treaty securing
the western frontiers.
Washington of course had nothing
to say officially, but no one would adj
NIT seeing cause for alarm. The pres
ent situation with respect to loans to
German Industries will not be dis
turbed, it was pointed out in an au-
thoritative source, since both German
and American bankers reached the
conclusion some weeks ago that furth-
er extensive borrowing in the United
States by German industries was I'M
sound and have sought to discourage
it, the fear being that IL such borrow
ing continued, it would complicate, If
not render impossible, the payment Of
Germany's PREPARATION obligations.
WINSTON CHURCHILL, chancel-
wv lor of the exchequer, offering to
parliament the British budget for the
coming year, made the welcome an
nouncement that Great Britain was
back on gold standard. He said the
law forbidding the export of gold
would be continued until the end of
the year but would not be renewed,
and meanwhile the Bank of England
would be given special license to ex-
port. Most of the rest of the world,
Mr.. Churchill announced, was follow
ing the example Of Great Britain and
the United States. The currencies of
Sweden, Austria and Hungary are
based on sterling, which now has be-
come gold. Holland, the Dutch Indies,
Australia and New Zealand acted 81
simultaneously with Great Britain. Can
ada already is on a gold basis and
South Africa reverts to it on July 1.
American financiers and government
officials received the. news of Great
Britain's action with enthusiasm, de-
scribing 1t as one of the most impor-
tant steps toward reconstruction taken
since the Dawes plan was put In OPP
Grafton.
nUR great war game in the Pa
~ cific came to an end early in the
week and the chief umpires, Rear Ad-
miral Coontz and Major General Hines,
decided that the Blue forces had de-
feated the Black and had captured the
Hawaiian islands. 1t was demonstrate
ed that the islands cannot be defended
against attack by first rate power
except by the big guns Of the fleet.
When the Blue warships attacked
Oahu the numerous airplanes of the
defenders demonstrated their great
value for scouting duty, but not a
single battleship was destroyed" by
them. The Black planes attempted to
put. the airplane carrier Langley out
of action but she escaped. The avia-
ton units of both forces caused con-
siderable damage. While feint attacks
and diversions were made on the west
and south coasts Of Oahu, several bat
tleships swept the north coast with
shell fire and party of marines land
ed. despite the efforts of the defenders.
Details of just what was accomplished
must await the statement of the chief
umpires after they have heard the
contentious of the various command
ers and digested their arguments. The
outcome of any particular phase of the
battle" in the Pacific, says Secretary
of the Navy Wilbur, was. not the pri-
mary object in holding the exercises
If the United States fleet has shown
that 1t can function smoothly and sat
isfactorily as a single unit under one
supreme command and under approx
mate war conditions, the maneuvers
have been fully justified.
One correspondent with the feet
calls attention to the fact that the Jap
anese navy tanker Hyatoma, carrying
navy officers and midshipmen, followed
our fleet all the way from San Pedro
to Honolulu and probably sent to
Tokyo accurate reports of the ma
neuvers.
VXTHLIAM S. CULBERTSON OF
| wv Kansas, who has been vice chair
man of the federal tariff commission
has been appointed minister 10 nu
mania to succeed Peter A. Jay. pro-
NOTED to be ambassador to Argentina
However, because of conditions in the
Near East and Washington's recent de.
mand that Rumania arrange her debt
to this country, Mr.. Jay will not al
once leave Bucharest.
THE first distinguished service
i medals ever given for military ser
vices performed in time of peace were
pinned last week on the breasts Of
Maj. Frederick l.. Martin, first com
mander of the army world flight expe
dition. and First Lieuts. Leigh Wade
and Leslie P. Arnold, members Of thu
expedition. The other men Of the grouI
] that made the World flight also vii