, 1935-01-06
The World
At a Glance
By LESLIE C II
Central Press Staff Writer

By LESLIE EICHEL
Central Press Staff Writer
NEW YORK, Jan. 7.-Wall Street
actually is looking for the New
Year to begin with a squirt.
Wall Street even is looking ahead
10 next summer with great hope.
The chief reason for this Is the
heavy winter precipitation over
much Of the chief agricultural
areas.
Stocks
Stocks are likely to be motiyated
largely by inflationist or non-infla-
ZIONIST tendencies unit. congress adj
journs.
The betting Is for initiation.
But the Roosevelt administration
may be able to stop it.
Power Output
Electric power output is the high
est since Feb. I, 1880.
Figures for the week ended Dec.
% show output only 3.87 per cent
below the highest production fig
ures ever achieved-which happen
ed TO be the corresponding week in
1929.
In Japan
Popular opinion in Japan is, of
course. unfavorably disposed toward
the United States.
The people there have been led
10 believe that the United States
Is the nation imperialisticslly in
clined.
The japanese also resent the
treatment Of OrientalS, on a racial
basis. by the United States. They
believe Americans are ruled by pre-
JUDGE.
Great Britain has been more
subtle. Rumor persists that Great
Britain and Japan have an agree
ment-to divide the Far Eastern
trade, and to defend" each other.
II attacked.
The first test may come when the
Chinese Communists drive General
CHARACTERISTICS into a corner.
Kai-Shek. nationalist president OF
China, now Is reputed TO be a tool
OF Japan.
Today?-4O Years Ago
Is every depression alike?
Read this by Henry George, in
1894:
Land is the source Of all employ
ment, the natural element indis-
penSable TO all work. Land and la
bor-theSe are the two primary fac
tors that. by their union, produce
al wealth and bring about all ma
terial SatiSfactions. Given labor
that Is 70 say. the ability to work
and the willingness 10 work-and
there never has and never can be
any scarcity OF employment so long
as labor can obtain access TO land
That the monopoly of land-the
exclusion OF labor from land by the
high price demanded for its the
cause OF scarcity of employment
and business ~depreSSions is as clear
as the sui at MONDAY. Wherever
you may be that scarcity OF employ
ment Is felt-whether In city or VII
lage, or mining district or agricul-
tural Section-how far will YOU have
TO 90 to find land that labor Is
anxious to use dor land has no val
ue until labor win pay a price for
the privilege OF using it,. but from
which labor Is debarred by the
high prices demanded by some nom
user?.. Where labor Is shut out
from land 1t wastes. Desire may re-
main. but effective demand is
gone.
AT the close Of the last great de-
preston Q879), I made An EXAM
ination of the Cause OF Industrial
Depression in a book better known
by its main title. Progress and Pow
erty,' to which I would refer the
reader who would zee the genesis
and course Of business d~epressions
fully explained. But their cause is
clear. Idle acres mean idle hands,
and idle hands meal a lessening OF
purchasing. power on the part Of
the great body Of consumers that
must bring depression to all bust
ness. Every great period Of land
speculation that has taken place In
our history has been followed by a
period Of business depression, and
1t always must be So"
Also 20 Years Ago
Socially. OF not economically.
there has been a change In the
world in 40 years.
Some occurrences no further back
than 1894 now seem to have been In
the DARK Ages
IT is only 40 years ago that Eng
land sent gth-year-old children to
prison for stealing.
The children we're kept in dark
cells on a diet OF moldy bread.
The growing bodies. crying for
nourishing food, became crippled
for life.
A warden who gave one Of these
tortured children a cracker was dis
missed and denounced by a prison
board.
Read Oscar wilde's accounts of
his own Imprisonment and the suf-
ferings of others during those Vie.
torian days OF self-righteousness.
We. too, have our days Of self
righteousness. Every. age has them.
Life is a matter Of evolution and
contrasts. Even the crimes for which
men are sent to prison become he
roic deecs In another age.
Peru Is estimated to contain
6 -250.000 900 tons Of coal. OF which
70 per cent Is Ignite, 20 per cent
anthracite. and z per cent various
kinds OF bituminous.