Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-31
LOANS TO FOREIGN
! NATIONS OPPOSED
Representative McFadden
Criticizes Bankers for Ex-
tending Credit to Germany.
BY JOHN F. SINCLAIR.

BY JOHN r. SINCLAIR.
special Dispatch to The Star.
NEW YORK, October 31.-Louis T.
McFadden. chairman of the Commit
tee on Banking and Currency of the
United States House of Representa-
tives, continues his fight against
American Intervention in European
financial affairs. In New York he
criticized severely the action of Amer
1can bankers in participating in the
el25. 900 900 loan to the Bruening I gov
eminent despite the growing OPPOSE
ton Of Germany to the whole repara-
ton settlement.
"It is a dangerous piece OF med
ding in German domestic politics"
said Mr.. McFadden. 1T tends to in
volve us with the Bruening govern
ment and commit us. by this very act
to support the revision of the Young
plan that the present German govern
ment has already limited is inevitable
"The drop in the price level of the
world, however, Is most important
factor in the whole situation" Mr..
McFadden continued. 1T may make
revision or reputation of the Young
plan by Germany imperative: II the
commodity price level should remain
where 1t Is now, it would mean q
PREPARATIONS. If the level should settle
down 80 per cent below what 1t was
when the reparation payments were
fixed. Il would mean that Germany
would have to pay 80 per cent more
In goods and labor than she agreed
70 do. 49,,
pudiation. France is authorized unaer
the provisions of the plan to re-
occupy evacuated Germany, and IN
nv opinion, such an occupation would
mean war"
The Representative summarized his
position by saying in the Magazine OF
I'VE are begged down in the
cuicksands of the German PREPARATION
slough"
Relief Programs Started.
Col. Arthur Woods is taking hold OF
the unemployment problem In vlgor-
Gus way, Nearly billion dollars Is De-
ing drafted to start work In every part
of the United States. Every section OF
the country is responding. The money
mobilized so far Is substantially as fol-
lows: ,- nm mn
Pacific Coast .............$4I2 'UUo'oOOo0
Middle West ............'. z62'O0 Oo ooo
South ......''''''' 1880 'ooo
Southwest ........s..s'''' . I'oOo'oo
Eastern States .....'.''..' 99'o ooo' 0oo
Mountain States .......... z3'OoU'oooo
Northwest ...........'.'.. 1o'ooo'ooo
ro.o, 1895, 900 900
Relief programs have already begun
in more than 80 cities Of the country 70
combat the growing army OF unem,
nioved once expected to reach total
n 600 600 persons by January. west
arm cities. such as Seattle, Portland,
san Francisco and Los Angeles, seem 10
nave the lump on the others In the
organizations already effected.
The Federal Governments own pro.
gram includes not only $l!5,oO0,uoO
building program IN the Capital Oty'
hs,t an Additional $50, 100000 for build
ing merchant vessels. under the super
vision Of the Shipping Board, when
expects to employ an additional 2O,Ooo
men,
Ford's Plant in England.
Henry Ford is building on the
Thames River, England, one OF the
largest manufacturing plants ever con.
str,ieted in the British Empire, plant
CAPABLE Of producing 2oo,o 900 individual
What viii this mean to Great Britain?
Undoubtedly, Mr.. Ford's successIui
formula of mass production ano snall
profits will be carried out there as III
the United States. the present eoSai
outp1t Of all British automobile manu-
facturers. including Ford's, is not qulte
400 900 cars per year.
viii a cut of so per cent in autonno-
bile prices in Great Britain occur Wnen
Mr.. Ford begins producing cars there?
n so. havoc will begin in many automo-
bile factories, and all will be faced WIN
a new kind Of competition.
A British tariff would do no good In
this situation because Mr.. Ford has an
noalnced that the cars built at this new
nIsnt viii use British materials.
The subject remains not only one OF
intense interest to British manutactur-
ers, but Of just as much interest TO the
mass of British citizens, who see IN Mr..
Ford a mighty force which will lead q
movement toward higher wages and
higher standards Of living, as so signally
happened in the United States.
Business Boom.
Here IA one fol the calamity howlerS.
They're having boom times in Chatnelo,
MINI.
OF the $500 correspondents in all sec.
tons Of the county who are connected
with the Lumber Market, the indus
trial organ of the National Lumber
Manufacturers Association, the reporter
Mt Chatfield is the most enthusiastic bet
ter business man yet heard from.
"All Is In its glory, and the glory 1t
u high" he reports from this town OF
l,400 souls In Southeastern Minnesota.
A $1,000 hotel has just been completed
there sd the officials are laying con-
crete lway through the town, joining
Duluth with Chicago.
"Crop conditions are fine" the Chat
feld reporter says. Corn is extra good
Oats are great, barley can't be beat,
clover seed is fine, the hay crop never
was better and with the good corn they
fat up number L.
Cream, he adds, Is bringing q fair
price. He deplores the fact that the
potato crop right around Chatfleld was
not so good, but hastens to add that the
potatoes turned out splendtdly over at
Austin. Wool is terribly low and cat
tie and sheep are cheap, but, he con-
tinues
Collections are fairly good and the
town is in the best spirits since Noah
landed the ark"
He also predicts the town will sell 10
Der cent more lumber in November
The reporters personal politics are not
given.
ycopyriRht, $780, by North American News
paper AllianceO