The daily independent., 1937-06-28
,nesR1

SIS Oll lSllC1 ID w NAS ~
gin of town names. Workers on a
WPA Writer'S Project in Mime
sofa discovered how three SWedes,
after a night drinking, gave the
town of Salol its name.
Salol is a numbering town near
Rosseau. and early in its history
three Swedish inhabitants were
designated to christen it. They
went to Rosseau to obtain sug-
gestions and advice, and the cltl-
zens welcomed them with open
arms and plenty of potent SWed-
ish punch.
There was more drinking than
naming, as morning found the
delegation in a doleful state.
Heads pounding, they dragged
themselves to the local drug
store.
There they asked the proprie-
tor to suggest a name for their
town. He was a resourceful man.
He took an assortment of med
cine labels, shuffled them, said,
Pick one"
The did 1t proved to be what
they needed in more ways than
one-salol, a headache remedy.
Ingenious Scheme
It is well known that the talks
between Roosevelt and the Bel
gian Premier, Van iceland, had
to do with international finance.
But it is not generally known that
Van Zeeland's trump card was
suggested to him by an American.
That card was plan whereby
the United States could invest It's
gold in Europe and still keep it in
the closely guarded vaults OF Fort
Knox, Kentucky.
The American who dealt this
card to Van eeland was Norbert
Bogden. young financier, assoclat-
ed with the international banking
house of J. Henry Schroeder.
Bogden was in hotel in Zurich
during a tour of Europe. He felt
he ought to tell somebody of an
idea about credits and finance,
which that tour had produced.
He sat down and wrote a letter to
Mr.. John Doe" For days he
carried the letter around with
him, then on an impulse sent it
TO a banker friend in Paris.
The friend knew Van iceland,
and sent the letter to him. The
Belgian Premier was greatly i'm
pressed with Bogden'S idea, and
invited him to a personal con-
ference.
Later he embraced the plan and
it became part of the agenda for
his Washington visit.
Bogden Plan
Briefly, the plan calls for the
United States to open a substan-
tial deposit account with the
Bank of International Settlements
which in turn would lend out
funds to European countries.
There would be no actual trans
fer of gold. But the gold which
the U. S. is sterilizing in Fort
Knox would be ear-marked for
the World Bank.
The trick in the scheme is that
it would circumvent the Johnson
Act. which bans loans to default
ing governments. BY the plan,
the World Bank could lend money
to Germany, France, Italy, or any
defaulting government-on gold
credits established by the United
States. And loans to these coun-
tries would mean U. S. fanancing
of more armament in the frenzied
armamentS race.
Bogdens plan is ingenious but
it has no chance of acceptance by
Roosevelt-aS he made very clear
TO Van iceland in their conver-
sations. 1t would be certain to
precipitate a terrific furore in the
country at large, and Congress al
most certainly would take some
action to stop it.
Mail Bag
A. E., Miles City, Mont.-Ihe
United Mine Workers contributed
S455,OOO to the 1886 Democratic
Campaign fund. The c. I. o. as
an organization made no contri-
button at all. B. K. L., Day
ton. O.-The country which buys
more U. S. farm machinery than
any other is Argentina. B. S.
T.. Charlotte, N. C.-The relation
ship of Senator McKeller of Ten
nessee and his secretary, Donald
w. McKeller, is that of brother.
. F.. l.. r., Burlington, VT
bonds are not techni-
cally in default, since token"
payments are maintained. Thus
Brazil is not barred by the john
son Act from floating loan in
the United States. Her credit
standing is not such, however,
that such a move can be made at
this time. d. c. w., Bridge
port, Ct.-Tne name OF the Coun-
selor of the Canadian Legation in
is Wrong, first name