Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1935-05-23

M POpeQty ucpWius wa COu
Sahle kteAt upon a satisfactor,
plu&ton a. this vexing problem.
In a recent speech on the none
tary policy Of this country, Secretary
OF the Treasury Morgenthau pracuc
ally invited the nations OF the w0rt
to cooperate In stabilizing foreign
exchange. but warned that this coun
try would not surrender its power
to further devalue the gold content
OF b dollar and thus place itsel
at a disadvantage If the other great
trading nations elect ito continue
under the present absence Of rules
Interest IN his statement was not
confined to this country although
heretofore suggestions along the
same line have been coldly received
in Great Britain.
Mr.. Morgenthau pointed out that
under our present monetary policy,
we have been receiving large ship
ments OF gold and silver In place OF
paper for settlements OF our favor
able trade balances. He denied that
this is stripping the world OF gold,
pointing out that production Is about
$1,000 900 900 worth annually and
that the percentages OF the total
gold supply held by the various n
tons show no alarming changes. In
1922 we had Ali per cent, and now
we have 3S.S per cent. France moved
from S.4 per cent, to 24.8 per cent.
He further pointed out that we were
the thirty-first nation to go off the
gold standard and that, under our
new dollar, vi export trade In 1884
increased in physical volume, In
dollar value and in the percentage OF
total world trade. In conclusion, he
insisted that the dollar is absolute
ly sound" and that we revalued our
currency more than "a necessary
to protect ourselves against a world
condition and that Washington will
not be an obstacle" when the world
Is ready to seek foreign exchange
sterilization.
For several months the State De-
partment has been studying the
PiouuCul III AoulldIty Dut liz PuuiiS
report has been made Of any pro-
gress, although Secretary Hull has
conferred with the President about
the matter. Considerable support ex-
lists for the restatement OF a policy
to be followed by this country In the
event OF a serious war, with empha-
sis being placed upon measures to
keep US from becoming embroiled.
Senators Nye OF North Dakota and
Clark Of Missouri are interested ad-
vOcates OF measures to regulate pass
ports and prohibit credits to bellig-
erents for the purchase of contra
band and to stop the export of arms
to waning powers. Readers OF this
column are probably aware that the
United States has for many years
commended for the fullest freedom
OF the seas" insisting upon its right,
as a neutral, to trade with ibelliger-
ant powers In accord with estab-
lished international law.
80
During the World War, both Great
bllt0ll Qll0 NIL lu4l1 VI CHdiOOQ
our rights with impunity, although
the British policy OF siezing ships
did not involve the loss of life oc-
casioned by the UIBoat campaign.
1t will be practically impossible, in
the event Of another European war
for this country to insist upon its
trading rights as a neutral without
or later, becoming involved
on one side or the other. In fact, in
the eyes of many students, the ma
ton becomes a participant In the
struggle whenever its resources are
available to one side only, regard
less OF the warfare that makes this
the case.
Something like a Federal Institute
to war on the underworld, is suggest
ed by the Department OF Justice,
has made quite a reputation
for itself lately in fighting crime. A
crime laboratory has been suggested
with the idea OF assisting and train
ing police officers, aiding and train
ing prosecutors to beat rackets"
and cope with modern crime prob
lens, to conduct research work, col
lect statistics and act as a clearing
house for practical information An
other suggestion is that a central
radio station be used to broadcast
police news throughout the country.
While the plans have not been defin-
itely accepted, DIT is quite probable
that a National Crime Institute will
come into being and render effective
service.