Evening star., 1934-12-30
WALLACE VISIONS
LONG PRICE RISE
Tells Science Association
That U. S. May Not
Return to Gold.
BY the Associated Press.

By the Associated Press.
PITTSBURGH, December 2o.-Sec-
retary Of Agriculture Henry A. Wal
lace today told the American Associa-
ton for the Advancement Of Science
that we may be entering a century
long period of rise in prices and added
we may not return to the gold
standard.
"For all we know to the contrary
he said. I'VE may be entering upon
another 1oo-year-long rise in prices
such as was seen in the century be-
ginning with 1915" =. .... -.
Wallace said there is a possibility
that the United States may not re-
turn TO the gold standard, but we may
be feeling our way toward goal,
which logical minds cannot perceive
at the moment"
The Secretary spoke Informally at
the request Of Carl Snyder Of the
Federal Reserve Bank of New York,
N&4d344 441aA4 VI b4kC
Sees Prosperity.
wallace assured his audience that
the United States was well on the way
to prosperity, but issued a warning
to statisticians and business analysts
that certain psychological tendencies"
may be more significant than baro-
metrics or econometrics in charting
the course of recovery.
Il believe" the Secretary said, that
recovery in the United States has
reached that of Great Britain and per-
haps has proceeded little further.
think that future hope lies rather
with the United States"
Women are Just as smart as men,
despite old ideas-including mems
to the contrary. a scientist reported
today. The intelligence of the two
sexes Is so nearly equal you practi-
cally can't tell the difference.
ANY notion Of significant sex Diff
ferences in intelligence must be dis
PEELED" Prof. Paul A. Witty Of
Northwestern University told the
Association. Prof. witty studied IA
14s boys and 13.4s3 girls in high
schools. Their intelligence averaged
the same in all four years Of high
school. Their average I. @. or intelli-
gence quotient was 104, compared to
100 for the general population.
Droughts Predicted.
More droughts as bad as the disas-
fYNttc 1oe fAraAo ct
by Weather Bureau expert today.
At the same time he voiced belief
that much Of the damage done in the
last one could have been avoided II
previous scientific warnings had been
needed by farmers.
j. B. Kinzer, chief climatologist Of
the Weather Bureau, told the associa-
ton there are recurring cycles Of dry
and wet weather in much of the Great
which will make future droughts in
evitable.
Kinzer pointed out that as far back
as 1919 Weather Bureau scientists
had warned against the extension of
farming into greater and greater areas
Of comparatively arid land.
"The answer Is fewer cultivated
fields, more natural vegetation, more
grass lands without too close grazing
and any device that would diminish
the surface velocity Of the wind and
conserve soil moisture"
Lists Recovery Factors.
A balance sheet Of "our chief
concern"-permanence Of recovery
showing capacity for overproduction
wiped out, was presented today by
Claudius T. Murchison, director Of
the Bureau OF Foreign and Domestic
Commerce, Washington. He held that
the hopeful column outweighs the
doubts.
He based the production statement
upon four years failure to replace
obsolescent machinery, serious disre-
pair Of housing, new housing construc-
ton tagging behind increase in popu-
lation, and the enormous potential
demand" for autos, radios, mechani-
cal refrigerators and general house,
hold equipment due to the public post
poning requirements.
The second fundamental, he said,
'is relief recently gained from our
agricultural surpluses, with the one
important exception Of cotton
Third-Reduced vulnerability Of the
financial system. Fear Of bank fail
Tres, he said, Is q thing Of the past
with rapidly developing attitude Of
greater confidence on the part Of
bankers"
Fourth-Refinancing Of farm and
home mortgages and reduction Of the
aggregate debt burden.
Fifth-Worid-wide seops Of the re-
,overy movement.