Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-24
RADIO week OPENS.
WITH BIG EXHIBITS
New York and London Are
Scenes of'Huge Displays
of Equipment.
BY JOHN r. SINCLAIR.

SPtSiaA DAcPatSII W. Lie 6taT. - &
NEW YORK, September 24.-This is
Radio week" in the worlds two largest
clties-London and New Yofk.
London, opening its national radio
exhibition today with 8 miles of ex-
hibit stands and about $3,000,0 900 worth
of radio equipment, is only rivaled by
this city. where the Sixth Annual Radio
World Fair opened this afternoon at
Madison Square Garden.
In New York no actual demonstra-
tons Of the sets or loud speakers are
allowed, but the ambitious manufac-
turers have engaged rooms in various
hotels about the, Times Square district,
where their instruments are being DEM
onstrated for the trade"
Televislon in Its latest form will be
shown. DR.. e. r. w. Alexanderson Of
the Radio Corporation of America will
demonstrate the ingenious device, so
that visitors may witness an actual per-
Torrance in the studio and then see
1t reproduced by television on q ground
glass screen IA inches square.
Television Is not yet here in a COM
mercial sense, but at the next annual
radio fair television should occupy the
center Of the stage. ,
All eyes are watching its develop.
ment at this time.
The Bank Of England is clinging to
the 5l2 per cent discount rate, which
II. established last February, when
Montagu Norman, Its governor, was II
the United States.
Since the Federal Reserve Bank Of
New York increased Its rate to o per
cent British business interests have been
expecting a rate increase there. So
far it has not happened.
The drain on the banks gold re.
serve has continued for months. It
gold outflow and the drain on It's
credit, which the gold shipments re-
feet. is raising It's rate to Ga per cent.
The business interests seem to be
recorciled to an increase. II 1t does
not come 1t may be inferred that h
Bank of England Is yielding TO
pressure from the British treasury.
Such things have happened in the past
In every country.
not improve until the rate goes up.
Should England raise its rate this
week or shortly, it will have a tendency
to stiffen the rates Of all the other
central banks Of Europe.
So in the last analysis the rate set by
the Federal Reserve Bank OF New YORK
has a very definite and vital erect on
central bank rates throughout the
world. A higher Federal Reserve rate
always means tighter and higher-priced
money throughout the world. And there
is nothing now to indicate any lower
Federal Reserve rates for some months
to come.
At the turn Of the century there were
few people optimistic enough to predict
that within so years South America
would be as important to the trade OF
the United States as Europe. AT that
America were doing about $500, 600 900
worth Of business.
Fifty years! 1t took less than Is,
while In 1928-less than 80 years later
the United States was buying and sell
ing more goods in, Latin America than
England, Germany and France COM
bined: Trade totaled over $4,000, 100000
Perhaps more significant than this
Department of Commerce that in the
pre-war period most Of the trade was
done with Northern and Eastern States.
But now the trend is swinging away
from them to the South and the Pacific
Coast. -
The States which have shown prog
ress in South American trade are Nary
land, Virginia and Georgia, in the South
Atlantic district. u
New Orleans has more than doubled
its Latin American imports in the last
is years, and think of San Antonio,
Tex, increasing its exports to Mexico
from 81. 128, 900 in 1884 to A. ,324,-
600 in 1928.
San Francisco has more than doubled
its exports to Central America during
the same period, but Los Angeles Is the
town. It's business with Central America
has jumped from $4,000 to $~6,634,000
IN the same period.
George j. Elder Of the United States
D department. of Commerce, commenting,
says: These changes may be explained
by the tremendous growth of the manu-
featuring industries in the Southern
States, by the westward mach of popu-
lation in the United States and the de-
velopment of the Pacific Coast region.
and by the growth of the automobile
and allied industries in Ohio and Mich
igan."
Capt. Dollars prediction-that in
South America and the Far East lay the
hope of American foreign trade-may
not be far from the truth.
(Copyright, 1929. by North American. News
6Aper Alliance