, 1935-03-03
The World
At a Glance
BY LESLIE c III
Central Press Staff WRITER

-= -
NEW YORK. March Now, since
the gold decision Is out Of the way,
we are told to look for world sta
bilization OF currency.
The gold decision In itself means
little to trade, except TO remove un-
certainty as to the value OF money.
Since. however, the decision vail
dates the Roosevelt devaluation Of
the dollar, the world now knows that
the devalued dollar is THE dollar.
Thus, from that basis, there may
be trading among nations for stabi-
lised interchange values Of cur
rency.
Means Of breaking down tariff bar
riers will have TO follow. economists
say.
Unless there Is stabilized inter
change value Of currency. unless
there Is q breaking down Of tariff
barriers, the world might starve it.
self to death-unless actual barter
we're reSorted TO.
As 1t Is, millions are jobless be-
cause OF lack Of trade-while surplus
food and surplus manufactured prod
ucts rot and rust.
Initiation Next?
The more conservgy i've financiers
are getting their house into ordei
tor initiation.
They say The gold decision opens
the door wide.
Furthermore, they believe the Rev
Charles K. Coughlln. radio priest.
perhaps unintentionally will sway
millions toward II.
Be that as It may, the conservative
financiers are preparing to cash III
on initiation, from all appearances.
They buy when values r down
and sell when values are up-beiorC
the bubble hursts-and that Is eX-
actly what the average man. hard III
his daily tasks. cannot well DO.
Optimistic
Speaking OF the stock market the
Wall Street Journal Is optimistic.
Says this bible" OF the Street:
Gold clause decisions OF the SUI
\ preme court should 60 a long way
towards clearing the path for re-
sumption OF activity in the new cap
ital market. Much of a large volume
of financing under consideration i
for refunding purposes and PEN
dency OF the cases made conSumma-
ton Of such transactions impossible
50 long as prospective lSSuerS lack
ed assurance that securities 70 o.
sailed for redemption could be PAID
off in currency"
Opening Of the capital market,
however, will not be a quick devel-
opment," the Wall Street Journal
warns.
incidentally. the stock Exchange
still Is fighting the securities con-
troll law. saying IL prevents neceS-
sary capital issues.
But the securities commission Is
more and more inclined to believe
that the protests Of the Stock EX-
change are a smoke screen 70 moe
refusal TO clean up o~bjectlonaole
practices.
Through Richard Whitney, itS
president. the Stock Exchange viz
luaIly is dominated by the House O.
Morgan.
independents in Wall Street, starv-
inc because Of the Whitney admin
STATIONS war with the government,
are beginning TO talk OF a house
cleaning" among the officers OF the
exchange.
Telephone
The senatorial communicable
| commission investigation into tnt
American Telephone and Telegraph
company will proceed very slowly
Although the senate voted ST3O,-
600 for this investigation, largest MI
tial sum ever voted by the senate
for an INVESTIGATION. fully a year
md A half will be required 70 Pe'
al the substance.
Why?
THE A. T. A. r. has scrambled rs
subsidiaries to such an extent tha'
investigators will have TO follow
countless trails. Experts confess
thew Are confused BY the tentaclei
~ this octopus, largest corporatlon
On earth-vith more wealth thar
the majority Ct governments.
Social Reform
49, nFhnp fUO mNnM-
mental problems, OF goverr NH
| and finances. social reform oe-
comes a lesser matter.
A purely demSratic government
with equitable taxation, WOULD
bring social reform Of its own mi
tiative.
yet. because the administration
has a urocram Of ~expediency rather
than a definite plan. angry forces
will battle directly 70 the Wnit'
House door on collective bargain
inc rights. child labor. shorter
work-week. old age pensions. lot
and health insurance. restriction
OF speculation. and manipulation
of giant corporations at the pubic
expense.
But not one OF those reforms car
be maintained. nor any achieved
IN the years past. unless the sta
bility Of democratic institutions i
| sustained and a citizen receives III
due share OF the wealth OF I'M
land in undepreciated currency o.
its equivalent.
And the vagueness OF the ad'
ministratl n on such m~sl issues
permits the rise Of all sorts OF con
flictinR forces to bewilder and Y
entrap the average citizen
The Power OF Death
IN Germany. Adolf Hitler. dicta-
tor. now has the sole power to COM
-. 1~- wa~wn~rnc