davidaulloa/AmericanStories huggingface dataset:
Evening star., 1934-04-15
RECIPROCAL TRADE SOUGHT
Germany Says She Must Buy From
Cooperating Nations.

HAMBURG, Germany. April Il up.
The unequivocal warning that Ger
many will henceforth as far as posi-
be buy her imports only from coun-
tries to which she can export goods,
was made to the world tonight by
Baron Konstantin Won Neurath, the
German foreign minister.
I'VE must plan our importations of
commodities hereafter more carefully" "
he declared, adding that Germany
had abandoned the policy of economic
self-suff1ciency
THE monetary policy of closing
trade doors by many countries simply
forces us. by careful planning, to
switch our necessary imports over to
such countries as are ready to accept
similar values from Germany"
He spoke at the annual banquet
of the American Institute, which
many Latin American diplomats, who
came to Hamburg from Berlin espe-
cially to hear the minister. attended.
The Reich government will pursue
this policy with determination, al
though the manner will as far as pos
ololC lCdNC IllC Olu u duc 1CldIlOIlS ull-
disturbed" he said
The foreign minister expressed the
opinion that such program could be
carried out successfully only If Ger
many's foreign trade policy is con-
Quoted in a unified way
In other wards, he hinted, by a
foreign trade monopoly.
1T will not do for tobacco import
ers or producers to embark upon
measures which disturb our foreign
trade relations" he added.
"Nor will it do for city governments
to forbid the sale of foreign products
in municipal markets"
Success in these measures, he main
tanned, depends in the last analysis
upon a "pacification and consolida-
ton" Of international political rela-
tions.
"Germany's policy is one of peace
with honor. No objective foreign OBJ
server now doubts this.
Fortunately we do not have politi-
cal issues with any countries whose
representatives we welcome here to-
night.
heartily lIldIlk the representa-
tives of Latin American states for all
they have done to improve mutual
relations and assist politically, eco
nomically and culturally."
The foreign minister asserted also
that autarchy-self-suf -suficiency-was a
thing of the past for Germany.
Concerning Germany's abandon
ment of autarchy," he explained, "the
slogan. 'autarchy'-which for some
time has in some circles played a big
role abroad-led to Misrepresentation
and has been abandoned in all cir
cles of Importance.
Let me say in explanation: No
body in tine Reich government be-
lieves Germany can or should be iso-
lated economically from other coun-
tries"
He declared Germany Is trying to
make herself more independent of
foreign foodstuffs and raw materials.
but that her geographical position
nevertheless demanded trade relations
all around.
Evening star., 1934-04-15

troll does not weaken, but actually
strengthens the pending bill. The
proposed commission is charged with
all the original authority suggested,
and newspaper talk about the teeth
Of regulation" having been drawn is
the sheerest nonsense. Not a single
tooth has been drawn.
Has Complete Control.
The stock exchanges at one time
wanted a commission, the composition
OF which was vastly different from the
commission on which the Senate COM
mittee has agreed. There is no stock
exchange representation on this COM
mission, the members of which are
prohibited from having any stock ex-
change connection directly or indi-
rectly. The commission has complete
supervisory control of all stock ex-
change transactions and the members
may be removed by the President at
any time should they fail to measure
up to their duties.
On the other hand, there is reserved
to the Federal Reserve Board COM
plete control. as at present, over the
credits Of members of the Federal Re-
serve System. The Securities Com
mission, under the amendments
adopted by the committee. will have
fun authority in the matter of mar
ginal transactions on stock exchanges
and the Federal Reserve Board will
have. under existing statutes. full
authority to determine the PERCENTAGE
OF loans that may be made by mem
Der banks TO brokers.
To Fix Margins.
The marginal requirements under
the administration of the Securities
Commission will be fixed from time to
time and be flexible, as they should be
Marginal requirements by the Federal
Reserve Board, which I think will
rarely be made, will be such as would
IN the Judgment of the board. be safe
at the time made
All the miserable talk about the
senate committe being influenced bv
Wall Street lobby is literally libel
Gus, since the bill as now framed is
Infinitely better calculated to control
transactions severely than it was be-
lore being amended.
tCopyright. 1894. by the North Am.r,c.,
newspaper Alliance Inc
Evening star., 1934-04-15
CANNON
WILL NC7 RETIRE
Declares in Church Paper
Such Action Would "De-
light Enemies"
BY the Associated Press.

By the Associated Press.
NASHVILLE, Tenn. April a.
While declaring that his superannua-
tion by the Methodist Episcopal
Church South would greatly delight
my enemies" Bishop James Cannon.
jr, said in statement today in the
Christian Advocate that he had no
intention of asking retirement.
THE discipline" the churchman
said, provides that bishop may be
superannuated on account of age or
infirmity, at his own request, or on
recommendation of the Committee on
Episcopacy.'
Concerning this matter, have to
say that can not truthfully ask to
be superannuated on account of age
or physical or mental infirmity' at the
approaching general conference, and
I shall not do So"
The general conference will be held
at Jackson. Miss, beginning April 20.
Enemies Are Gleeful.
Bishop Cannon, who Is on trial
in Washington in connection with the
finances of the 1928 campaign against
Alfred E. Smith, referred to these
charges and said:
MY vindictive enemies, political
and otherwise, were reported to me
as gleefully declaring, when the indict-
ment was secured, that it would keep
me tied up till the general conference
and so restrict my official activities
that it would produce the impression
upon the church that I am ineffective,
and would ultimately result in my re-
tirement as an active bishop"
Information has reached him, Bis
hop Cannon continued, that in the
event the present open-court attack
fails to retire me as a bishop of my
church. the effort will be made to
persuade the approaching general
conference to superannuate me, and
by this method to eliminate entirely
my official activities, thus restricting
my influence in the church and else
where and also greatly reducing my
financial support"
Both results" the statement added,
would greatly delight my enemies,
who desire not only to remove me as
an active factor in church life, but to
embarrass me personally in every pos
sible way"
Evening star., 1934-04-15
'FARLANE SEEKS
LIFE EBELTS PROBE
Texas Representative Stir.
red by Report Following
Lieut.. Clouds Fate.

A House investigation into charges
that Marine Corps aviators. engaged
in aerial target practice off Virginia
Beach, Va last Thursday were not
equipped with life belts for over water
flying; as required by naval regula-
tions, when First Lieut. David l..
Cloud. jr.. went to his death. will be
asked tomorrow. by Representative
William D. McFarlane, Democrat, of
Texas.
Representative McFarlane said that
he has been informed that the Navy
rushed a plane load of safety belts
to the naval operating base at Hamp-
ton Roads, Va, or to Quantico, Va,
so that they might be on hand when
an investigation was ordered. Lieut..
Cloud was officially attached to Guam
tico, but went to Hampton Roads on
temporary duty for target practice.
McFarlane said he would offer a reso-
luton for the investigation when the
House convenes tomorrow. He said
that he wants a full inquiry into
why Lieut.. Cloud was not properly
equipped
Required by Regulations.
"The naval regulations require that
all flyers have life belts" he said.
Lieut.. Cloud didn't. Why didn't he?
Nor did the other flyers have them.
Why didn't they?"
Representative McFarlane, a World
War veteran declared. every crash
costs the Federal Government, con-
sidering the plane and its equipment,
in excess of 100000 leaving out
the loss of human life.
They are so busy fighting the
battle Of Washington, that they don't
have time to give to the national de-
fense," said the Texas legislator.
At Quantico, officials had nothing
to say about Representative McFar-
lanes charge They said that the
Board OF Investigation, inquiring into
Lieut.. Clouds death, has not COM
pleted its inquiry, having adjourned
until tomorrow for further delibera-
tions. The lieutenant's body has not
been recovered, naval officials said
yesterday. The senior member of the
inquiring board Is Maj. Francis T.
Evans.
Plane Reported Fouled.
An Associated Press dispatch from
Norfolk, Va, describing the accident
in which Lieut.. Cloud disappeared in
the waves. asserted that his plane.
engaged in target practice, became
fouled in the sleeve target being towed
by plane ahead. One observer re-
ported that Lieut. Cloud, who COM
manded the winning squadron that
captured the Schiff Trophy given for
safety in flying, last year, bailed out
in his parachute. Representative Nc
Farlane's contention is that had Lieut..
Cloud possessed the life belt, in the
form of a life preserver. it would
have enabled him to remain afioat
on the waves and so be rescued by
Naval and Coast Guard searching
craft.
Evening star., 1934-04-15
SWlNDLER SLASHES
THROAT IN COURT
AS HE is SENTENCED

Continued From First Page.)
major scandal in France, Rochettt
was arrested. He was released a
short time later and many of his
creditors cheered him as he left the
prison.
Two years of official investigation
of his activities followed his release
There was a long trial and he was
sentenced to two years in jail, but
he fed the country.
Rochette carefully placed a letter
on his hat before cutting his throat
in the presence of the Mortified judges
and spectators.
The letter revealed that he had
postponed the suicide for several
weeks in order to read proofs of his
book, THE Regeneration of France
Rochette reappeared in a spectacu-
lar manner at Verdun during the
World War. He was found fighting
for France under an assumed name.
After the war he began again as
promoter, speculator and financier,
and though he never regained his
early prominence. the famous "Ro-
chette affair" of the years before con-
tinued to be talked about.
In 1880, Rochette was involved in
the Oustric Bank scandal. He was
in other difficulties from then on un-
til his death.
Only Two Of Many Cases.
The Rochette and Stavisky scan
dals are only two in the history Of
France. Most of the more prominent
affairs" involved raids on the savings
OF the ordinary man who has always
salted away his earnings, reputedly
and traditionally, in spare stockings
and socks
There was the decorations affair
in 1887. Daniel Wilson, American
born son-in-law of the President
Jules Grevy, was accused of selling
the Legion or Honor and other dec
orations.
Wilson was acquitted, but the scan
dal was such that Grevy was forced
to resign, and when the turmoil died
down, a new affair took the spot
light.
/ Gen. Georges Boulanger tried to
make himself dictator and at the
crucial moment when his followers
urged him to march on the Elysee,
the minister of the interior, Constans,
frightened the general so badly that
he fled TO Brussels, where he COM
mitted suicide on the tomb of his
former mistress.
The greatest scandal Of all was the
Panama affair. 1t absorbed $780,
100000 (gold of the savings of the
French middle classes.
A company was formed to build a
canal at Panama and with the canal
about one-fourth completed, the prof.
ect collapsed. Persons high in the
country's political circles, believed at
the head of the swindle. escaped JUS
tice. Ferdinand de Lesseps, famous
engineer. and his son Charles were
sentenced to Jail, but never served
the terms
The Dreyfuss, Caillaux and Hum
bert affairs were other scandals In the
political or FINANCIAL history of France
Evening star., 1934-04-15
JAPAN FINANCIALLY
SOUND, AGENT STATES
New Commissioner to u. S. Says
Yen Will Be Devaluated
Further.
3y the Associated Press

BY the Associated Press
SAN FRANCISCO, April l4-De-
valuation of the yen was forecast by
"utaro Tomita, newly appointed
financial commissioner from Japan
to London, Paris and Washington,
upon his arrival from Japan here to-
day. Tomita declared Japan is finan-
cially sound.
"As to the definite time or degree
Of devaluation I cannot say" he
added. 1T will be impossible to re-
turn to the gold standard at the old
par value. Compared with the franc
the gold value Of the yen has de-
creased IS per cent, or in other words,
is at 35 per cent of its old face
value"
Commissioner Tomita said he con-
ferred with Chinas leading f1nanciers
before leaving the Orient and fore
cast a period Of happier relations be-
tween China and Japan.
Evening star., 1934-04-15
BROADCASTING COMPANY
CHARGED WITH SLANDER
Sponsors of Program Also Sued
by Kansas City Chief of
Police.
BY the Associated Press.

BY the Associated Press.
KANSAS CITY, April 14.-A suit
seeking s250,000 from the Co.
lumbia Broadcasting System, Reming-
ton Rand, Inc, and the Midland
Broadcasting Co.. for alleged libel and
slander was filed today by Chief of
Police Robert ]. Coffey.
The suit was based on q recent
radio broadcast depicting Kansas
City's March 81 municipal election In
which four men were slain.
The action charges the words act
ing chief, ex-convict, served time in
the penitentiary," were used in the
broadcast, and are false.
The Remington Rand Co., Office
equipment manufacturers, the suit
charges, sponsored the broadcast. The
Midland Broadcssting Co. operates
radio station KMBC here.
James A. Reed. former Senator
fron Missouri. x co6ex's attorney.
Evening star., 1934-04-15
BY SENATOR CARTER GLASS.

Former Secretary Of the Treasury.
I think, as the committee agreed,
that an independent commission Sc
| lected by the President, subject to
confirmation by the Senate. could
more effectively administer the stock
exchange act than some other board
already charged with complex and re-
sponsible functions. 1t seems to me
that this proposition is almost
automatic.
Moreover, very decidedly object to
having the Federal Reserve System
allied or aligned in an" way with
STOCK exchange transactions The
Federal Reserve act textually prohibits
the Federal Reserve Board from in
cluding exchange securities as COL
lateral for rediscount at Federal Re-
serve banks, and it was the original
purpose of Congress, which has been
maintained to this day, to keep the
Federal Reserve System as far away
from stock exchange transactions as
possible.
The Federal Reserve Board has its
hands full ordinarily to manage the
credits of the commercial banks which
are members of the system. and the
attention of the board should not be
diverted to ether things which are
foreign to commercial banking and
with which the Federal Reserve Board
is not supposed to have familiarity.
Trade Body Separate.
The same is true with respect to
the Federal Trade Commission, the
statutory functions of which have
nothing to do with stock exchange
transactions and the members Of
which are not supposed to have fa-
miliarity with such transactions.
An independent commission was ad-
vocated by Senator Robinson, leader
of the majority side of the Senate.
in his speech before the Newport
News Chamber of Commerce a month
ago. 1t has been in the minds of
various members Of the Senate Bank
ing and Currency Committee since it
was first proposed to regulate the
stock exchanges.
The fact that the Senate Commit
tee has agreed on this method Of con-
Evening star., 1934-04-15

Continued From First Page.)
to all real estate advertised for sale
to cover delinquent taxes.
Oklahoma already has law tc
provide a two-year delay, at the dis
cretion of courts, in mortgage fore
closure proceedings.
Scott Stine, assistant State auditor
estimated most of the ad valorem
taxes in Oklahoma had been paid and
that few tracts of good farm lands
are included in the resale lists. He
explained the taxes on the lands to
be sold became delinquent prior to
1882.
Oklahoma has a deficit in its gen.
eral revenue fund of about S13.O0O.-
600, but the State went into the
red" Stine said. because legislative
appropriations for the last several
years have exceeded the excise tax
collections. This deficit. Stine said
was not due to delinquent ad valorem
taxes.
Teachers Not Paid.
The inability of counties to collect
ad valorem taxes has resulted In
teachers in many school district car
rying their warrants for three months
or more before they could cash them
In an effort to bring more of the
delinquent taxes into county treasu-
ries, the last Legislature passed Law
authorizing the cancellation of penal
ties on taxes prior to 1882 If the levies
were paid by December !, 1888. Muir
rays clemency orders we're issued
after the life Of the law had expired
In the more than three years Muir
ray has been Governor, he has called
out troops dozen times or more
to do everything from keeping a free
bridge open in defiance of Federal
courts to taking tickets at last
Thanksgiving's Oklahoma University
Oklahoma A. g. M, College foot ball
game to see that athletic finances
were protected.
They have kept oil wells shut down
under martial law, protected prison.
ers from mobs. closed bank during
, the March holiday of last yeal
and enforced a pardon for a ranch
man Jailed because of nonpayment ol
alimony.
Evening star., 1934-04-15
Historic Home Tour
Closes; No Houses
To Be Viewed Today

The two-day tour Of George
town historic homes. under
auspices Of st. Johns Episcopal
Church, closed yesterday.
In a story published in the
Saturday Star it was said that
some Of the houses would be
open today. This was erroneous
and The Star is glad to make
this correction in an attempt to
prevent any one from attempt
ing to view the private homes
today that were so kindly thrown
open for the tour Friday and
Saturday.
Evening star., 1934-04-15

President Doumergue's great power
with the Parliament and with the
various semi-Socialist and other or
ganizations does not lie in the intran-
sigence of his views nor in his iron
will, but in the fact that he does not
want to remain at the head of the
government.
Every time groups Of officials or
war veterans object to his stringent
economy measures and threaten a
manifestation or a strike, Doumergue
says: Very well, have it your own
way. But I am resigning immedi-
ately" And they all fall into line
for the time being at least-and ac-
cept his salary and pension cuts.
Evening star., 1934-04-15
COTTON MEASURE
PASSEDBy SENATE
Conference Report Now
Awaits House Action.
Signing Due This Week.
49,
By the Associated Press.

By the Associated Press.
A new venture in economic plan
ning-compulsory control of cotton
production-was started on its way
yesterday with Senate approval OF
the conference report on the Bank
head bill.
Almost certain House approval and
President RooSevelt's signature we're
ali that remained to make it law,
and impose a forbidding tax on all
cotton production in excess of TO-
100000 bales
The Senate gave its approval for
the second time by a vote of 80 to %,
despite prediction from Southern
Sefiator-Bailey, Democrat, of North
Garolina-that it would lead to "a
political revolution"
Six Democrats Opposed.
z Three Republicans joined with 36
Democrats to send the conference re-
port to the House. Six Democrats
cast their ballots against the bill
. 1t would levy tax of half the cur
rent market price, or a minimum of
cents a pound, against all cotton
produced in excess of the 10000 900
bale limit
State quotas would be based upon
the average production for the last
i've years.
The law would apply to the cotton
crop for the current year and could
be extended by the President for an
other year if he should find it i'm
peratiye to meet an economic emer-
gency.
Quota Basis Argued.
. Final Senate debate centered on the
action of the conferees in striking out
a Senate amendment to base quotas
on the average production for the last
10 years instead Of years.
There was no discussion of the
elimination Of the Senate's amend
ment exempting six bales on each
farm from limitation.
Senator Thomas, Democrat, of Ok
lahoma, launched the fight on the
five-year plan, saying it reduced Ok
lahoma's quota by 20 per cent and
amounted to an annual tax of S4,-
100000 on the State.
Chairman Smith of the Agriculture
Committee said the five-year plan
would limit the Eastern States more
severely than Oklahoma.
Senator Gore, Democrat, of Okla
homa, joined with his colleague in
opposing the measure. He said Ar
gentine producers already were being
urged to increase their cotton and
warned that once the foreign market
for cotton was lost it would be almost
impossible to regain.
Sees Alabama Aided.
Bailey said the five-year base would
harm North Carolina and aid Ala
barla. the home of the Bankhead
brothers, authors of the bill-Senator
Bankhead and Representative Bank
head
Bailey recalled President Roosevelt's
campaign promises to the forgotten
man" and said the bill would harm
the small producer.
Once you put this bill into opera
ton" he warned, the resistance in
the South will amount to a political
revolution.
IF you are ever going to strike a
blow in behalf of the humble man and
assert the right of the little man to
live, here Is the best opportunity the
Senate will have in the present ses-
sion"
Evening star., 1934-04-15
SOVIET TO FLOAT LOAN
Asks $500, 900, 900 Rubles - To
Be Raised Domestically.

MOSCOW, April IA (R.-The issu-
ance of a new domestic loan, aggre-
eating 3,500,000,00O rubles and run
ming , 10 years. was announced to-
night by the oviet government.
1t will be known as "the loan Of
the second year of the second five
year plan" and carries the optional
choice of either a lottery or interest
bearing bonds, which will pay 10 per
cent annually.
Evening star., 1934-04-15
Ne,r Stock Control Board
|. Defended by Senator Glass
Federal Reserve System,
Should Be Kept Sep.
arate, He Says.
Alleged Influence by
Wall Street Is Called
LibeIOus.

Stock exchange regulation by an
independent commission is defend
ed here by Senator Carter Glass,
one OF the trainers OF the Federal
Reserve act, in an article written
at the request OF the North Ameri-
can Newspaper Alliance. Senator
Glass, Democrat, OF Virginia, ar
CUES that the act ,Das intended to
Keep the Federal Reserue Board
completely aloot from stock er-
change transactions and asserts no
teeth" haze been drapn from the
bill by provisions for an independ.
ent administrative body.