The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-10-11
r. ON TT N U E ID
~ from page one
Reed Raps Hoover
Policy in Speech
At Des MOines, la.

field as they fled. Most Of the Chi
nese are armed with spears, swords
and rifles, but many Of them are en-
tirely without weapons. These met
no quarter from the Japanese, how
ever, who charged them with having
terrified the 100000 Koreans who
1--we In the Tungpien district.
With view to bottling up the Chi
reese, the Japanese are advancing
from the north, south and west fore
ing the Chinese to flee into the
snow capped Changpai mountains
where the japanese expect to starvc
them out
japanese military officials promised
to exercise the greatest caution not to
modest the IS American Catholic ana
Protestant missionaries In Hailung,
Linkiang. Turghua, Hsinpin and 9TH
er towns in the Tungpien district.
which embraces about 10000 square
miles.
A band of 1000 Chinese volunteers
attacked the Japanese near Chlsmus-
su. The Chinese lost $50 men and \
considerable amount of ammunition
The Japanese casualties were reported
negligible.
In connection with that phase of
his speech dealing with the gold
standard, Reed said:
Spreads False Rumors
THE astounding thing is that at
the very time efforts are being made
all over the country to restore con-
fidence in the financial system, Mr..
Hoover is willing to spread false ru-
lnors about the federal reserve banks
in the effort to win an election. His
statement has done infinite harm
and II credited will send shiver of
fear throughout the financial and
industrial world.
"The immediate effect of such a
speech as Hoover made is shown in
the stock and grain markets the fol-
lowing day."
Reed then read brief headlines
showing cotton off II to 10 points;
stocks moved downward: active
stocks registered declines Of from
four to six points; wheat prices drop
| sharply, corn and oats likewise low
er.
1.-THE second great secret peril
which Mr.. Hoover had, to use his
language-'to bear in silence was
that the taxes from incomes were
likely to be reduced. Everyone read
| In the press daily statements that
the income tax would be greatly re-
! duced. Mr.. Hoover's pretense that
| this was a secret dagger which he
wore IN his breast Is simply ridicul-
GUS.
Mr.. Hoover charges the Democra-
tic party seeks to ruin the country by
the public building and the public
improvement bill commonly known
as the Garner bill. Regardless OF
the merits or dement's of that meas
ure, 1t Is enough to say that If the
Garner bill Is pork barrel bill then
Mr.. Hoover is in the lard up to his
eyes. Indeed, he is the responsible
author OF that kind of legislation
Nov. 81, 1928, at a conference of gov
errors held In New Orleans. he ad-
vocated the adoption OF a program
for the expenditure of three billion
dollars on public works in order to
take care of unemployment when il
should arise. The Garner bill simply
puts this proposal Of Mr.. Hoover into
effect.
Denounces Own Scheme
For the man who was the author
OF these very schemes to now de-
nounce those who carry them into
effect is as unjustifiable as for a
man to deny the paternity Of his own
child and turn against one who gave
it protection.
Clearly enough there must be a
change of policy. Seven years Hoov-
er has been in position Of COM
mand. Every time he has uttered a
word, written pamphlet, sent a
telegram, or invited a message, he
has succeeded in breaking the mar
| ket."