Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1936-10-01
INTERNATIONAL
NEWS REVIEW
CONTINUED from Page ~

some more steps.
Less peaceful are the tunes that
reverberate from some of the militant
speeches recently delivered at the
Nazi meeting at Nuremberg. In an
indirect but sufficiently official way
Russia had already protested against
which expressed his wish to come
into possession of certain parts Of
Russia; France had demonstrated that
no outside government ought to agi-
tate against the democratic form of
political life which is so dear to the
French; then followed Roumania with
an official protest against German
accusation that new railroads were
being constructed for the purpose of
connecting Russia with the rest of
Europe by way of Roumania. and
Czecho-Slovakia Indignantly waved
aside the German charge that Russia
is building military airports on
executive of the German Reich in
tended to stir up hornets nest, he
cceeded-unadmira
Closer to Madrid.
In Spain the civil war appears to
be drawing to close, and the fascist
rebels closer to Madrid which is their
goal. A few days ago the rebels took
Toledo and thus won one of their
more important victories enabling
them to concentrate most of their eff
forts upon the task of capturing the
capital. Toledo did not fall without
fight-in fact. the government troops
had been able to repel attacks for al
most two months.
On most of the other fronts the
rebels seemed to be successful, and
in Madrid it is admitted that the
situation is somewhat desperate. What
will happen if the rebels finally
emerge VIGOROUSLY from this struggle
is not so difficult to foresee, for their
leaders have already admitted that
they want to set up a government
much like those now established in
Rome and Berlin. Should, on the
other hand, the government succeed
in crushing the revolution, there
would be new attempts made by the
fascists- for years to come. Whatever
ones sympathies may be, it has to
be conceded that the prospects of a
government victory are quite remote
at the present moment.
1t is, by the way, rather interesting
to observe the fact that very con-
~ Of Iai1 y
press considers the Spanish popular
front government red" therefore
condemnable, while the fascist rebels
are described as white" therefore
eternally right. What is actually hap
pening is that Spanish democracy is
defending itself against an organized
attempt to set up a dictatorial form of
government. That attempt is being
applauded by many writer's and
speakers in the United States, often
referred to as the very home of mod
ern democracy! But one discerns be-
hind this praise of the Spanish fas-
cists certain elements connected with
the presidential campaign now going
on here.
Franc DEGRADATION.
For a long time France has been
struggling hard to retain it's gold
standard, but last Saturday an an
nouncement was made that the Paris
government had decided to discard
it, that is, to reduce the gold value of
the franc. One principal reason for
this was the ever increasing flight of
gold from the vaults of Banque de
France to foreign countries. More
than two billion francs have been sent
out of the country during the month
of September, and although the re-
serves still amount to about So
billions or 100000, (second-larg-
est gold reserve on hand anywhere;
the United States, with more than 10
billion dollars, is still way ahead),
the exodus of gold could be seriously
felt; therefore, it was decided to reduce
the gold value of the franc by about
two-thirds, also to stop at once all
outflow of French gold.
Switzerland and the Netherlands
Immediately followed the French ex-
ample which, among other things, will
affect foreign trade to considerable
extent since it will have tendency
to limit importation into France of
foreign products.
Russia, England, u. s.
1t was an entirely normal transac-
tion-but in Washington it was said
that the government bank of Russia
with malice aforethought offered for
sale one million pounds sterling i'm
mediately after the characterization
| announcement was made in Paris;
Russia was willing to sell sterling at
any. price, and in Washington it was
charged that here was a deliberate at
| tempt to press down the value of ster-
ling. In the United States the effect
was immediate, fer sterling declined
from $500 per pound to $4.91. Then,
to offset this, the American depart
ment of the treasury utilized it's huge
sterilization fund and purchased the
Russian offering. with the result that
sterling advanced to $4.96.
Treasury Secretary Morgenthau de-