, 1935-03-12
The World
At a Glance
By LESLIE EICHEL
Central Press Staff Writer)

1~4s WAs4 A%9G@0 A1A~AANA@& &NGN A0AA
the most Is Senator Elmer Thomas
Of Oklahoma. the silverite.
Financial New York sees the sill
yer program Of Senators Thomas as
pushing not only the United states,
out the remainder o. the world over
the financial brink.
Senator Thomas Is trying to have
a bill passed making II mandatory
that the United states treasury pur-
chase so million ounces OF silver q
month until M billion ounces have
oeen acquired.
Remarks the Wall Street Journal.
When the treasury Is ordered
upon a fixed mandatory program.
Il Is not vie finance 70 count on an
unknown factor. IL takes little mag
lnaticn TO conceive the confusion IN
the silver markets OF the world to-
ward the end of any one month
when II became apparent that the
american treasury was short OF its
% million ounces -.
Then, sardonic3lly:
Perhaps Senator Thomas will in
troduce q bill compelling 81 foreign
holders Of silver to sell their hold
ings TO the United States govern
ment."
English Fears
The English fear that the United
States faces q speculative boom,
which will get out Of control and
cause a crash.
A dark report has been sent 20
London from Harry 0. Chalkley.
commercial counsellor OF the Brit
ish embassy In Washington.
The federal reserve bank Is not
likely TO be able to control specula-
lion. once II begins. Charley warns.
He points 70 the reserve banks ex-
cessive reserves and huge invest
ment In government securities and
adds:
There Is a body Of opinion which
holds that since the situation con-
tains such vast p~otentialitles OF cred
IL initiation with elements OF Q spec
ulative boom In values and prices.
the question Is only when and by
what II will be set into motion, with
unpredictable consequences 70 the
United States and other countries.
Chalkley says also that be doubts
whether the United States can dis
pose OF its agricultural surplusses
without accepting a much larger
share OF foreign soodS.
What's Thisf
Something new TO reflect on the
United states appears In . trade
item in the noted Manchester, Eng
land. Guardian.
1T Is surprising that st q time
when conferences are being held N
The United States to discuss the
problem Of the reduction OF Amerl-
can cotton exports, when Brazil Is
pushing forward with efforts 70 make
cotton rank closer In importance 70
co. fee as one Of It's exports, and when
the Lancashire Indian cotton COM
mittee are bringing about q large
substitution OF East indian lor
American Gotten. that Lancashire
spinners should have TO complain
that they we're being sold false-pack-
ed bales OF American cotton"
That i a terribly long sentence
but the charge Is clear.
Morgan's Move
J. p. Morgan viii not move 70
England. That IS the view Of Leslie
Gould, financial editor OF the New
York Evening Journal.
Gould believes that Morgan, III
disposing OF art. Is taking advan-
a 2 OF a good market, IN order 70
be able to have his estate IN sucn
condition that hts control lntereSI
in the Morgan company's activities
rill not be affected by the huge IN
come tax his son will have TO pay.
Morgan's dominance In American
finance. according to Gould. ma
been accomplished with compare
lively few millions, well managed Ills
fortune Is not In a class with ForoS
or MELONS.
Going 10 England would be no es-
cane for Morgan. Taxes on estates
are even higher there, and the size
VI the Morgan fortune would De d.
minished by being translated into
English pounds at this time.
Terrorism
And YugoslavIa 10 the growing liEt
II countries In which there Is fas-
c!sti terrorism.
students have sent a memorial %
the outside word protesting agai.1s.
cruelt!es inflicted on them Tney leD
Of deaths by torture.
This Is the country in which the
bov king Peter rules" under the re.
-ency cf his uncle. Duke Paul. But
me real rulers are q group OF NIL
ltaristic terrortsts.
spain. also. Is in the grip OF such
.errorists. from reports seepins
through. And Austria. Hungary, Italy
md Germanv have seen the oisap-
>esrance OF freedom.
In every one OF tee cou's7es
mentioned. leaders Of laborites. az
.,rians and opnosinr political rae
IONS either are IN prison or concen-
alton csmus ~ not dead or nave
>scaped 70 exile.
No Morgan Mystery
]. p. Morgen's partners are IRVINE
10 dissipate the mystery connected
with Morran's sale OF art treasures
and surplus land" around his es-
tates.
The Morgan partners say that
MorTan's purpose Is 70 accumulate
money 70 pay the inheritance taxes
on his huge estate when he dies
without disturbing the estate