Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-24
GOLD EXPORT HELD
/. NO CREDIT MENACE
Movement of Metal Abroad
Expected to Aid Euro
pean Industries.
BY JOHN F. SINCLAIR
Special Dispatch to The Star.

Special DlSpatch to The Star.
NEW YORK, December 24.-Gold is
leaving the country-plenty of it. Since
November / the United States has sent
out $85 100000. This loss has had nc
effect on Tightening credit yet. The
movement, however, is much heavier
than was anticipated. 1t was expect
ed that some gold would leave the
country, perhaps $300,000,000 before
June l. With fourth of that amount
already lost. The total before the out
ward movement is over may exceed
that figure
But this is not a distressing situa-
ton. To the student who understands
it, it is a very helpful fatcor. Some
seem anxious over it because of its
tendency to- cause contraction of credit
at time when easy credit Is needed
But we are long way from that point
today. No one need fear credit strin-
gency because of any gold export which
has taken place or which is likely to
take place in the next six months.
European business needs the gold
today-far more than the United States
needs it.
A prosperous Europe reacts and makes
a prosperous American foreign trade.
The one aids the other. No nation can
needs the gold which we can we'll
afford to spare The transaction is
mutually helpful and profitable.
The committee appointed by Presi-
dent Hoover to investigate the changes
resulting from modern living condi-
tionS is expected to begin its work in
January. The work of the committee
will cover the general mental and ply
steal health of the country, family life,
increased leisure, women in industry
and allied problems.
The personnel of the committee in
dictate the Importance of the work. It
is headed by Wesley P. Mitchell of CO.
lumbia University, authority on bust
ness cycles. The other members are
Charles E. Merriam of the University
of Chicago, William F. Ogburn, pro-
lessor of sociology of the University of
North Carolina, and Shelby M. Harris
OF the Russell Sage Foundation.
The committee will investigate the
Embellishments of society, and the
methods created to meet them; also
questions of public health, old-age pen
sionS and kindred subjects.
Prof. Mitchell when asked about the
matter, said that he believed that "a
study of divorce will probably be in
cluded as well as the whole approach
10 eQucatlon.
The work is to be financed by the
Rockefeller Foundation, and the work is
expected to take months, if not years,
to complete.
Jan Christian Shuts the South Az
rtcan general who fought against the
British in the Boer War of 1898 and
who fought with the British in the last
Great War, sails today from England
Tor visit to the United States.
The former prime minister of South
Africa, who probably next to Cecil
Rhodes has had a greater influence on
the life of South Africa than any other
man, was educated at Cambridge Uni
versity, England. and became at %
states attorney in South Africa under
President Kruger.
His speeches in England after the
war. and in South Africa during the
war, probably did as much to help the
British cause as those of any other man.
While his career has been mostly polit-
ical, he is known as an unusually ca
pable student of international business
and finance.
His visit to the United States will give
the Americans an opportunity to meet
and see one of the worlds most distin-
guished statesmen.
Copyright, 1929, by North American News
paper Alliance.)