Evening star., 1938-01-05

Younger. superintendent of the Senate
Office Building for the past thxee years.
In 1913 Younger. who is a brother-in-
law of Col. Edwin A. Halsey, secretary
of the Senate. was running errands
around the chamber floor in plus-tour
knickers. The 200 employees of the big
marble establishment which he now
SuperviseS presented him at Christmas
with a magnificent gold watch as token
OF esteem of kindly and efficient boss.
&k*
One Of the brilliant young officers of
Gen. Pershing's A. E. F. headquarters
staff in France, Col. N w. Campanole
has just been retired for disability in
line OF duty. Campanole's last service
was as military attache to the Carib-
bean republics, where he ran foul of
revolutions in three countries-Ven-
eZuela, Nicaragua and Honduras. Re-
sultant experiences were directly re-
sponsible for his physical breakdown.
Col. Campanole enlisted in the United
States Army in 1899 for Philippine serv-
ice. During the past SO years he has
had tours of duty at many posts at
home and abroad. His outstanding
achievements during long and active
career were as chief of the secret serv-
ices Of the Pershing punitive expedition
to Mexico and later of the A. E. F. He
was the youngest officer ever recon-
mended for Medal of Honor during
the Philippine insurrection. Later he
was a student officer in Japan and be-
came an expert on Far Eastern affairs.
X
Former Senator Robert L. Owen, DEM
ocrat, of Oklahoma. who drafted the
original Federal Reserve Act, thinks the
requisite to recovery is congressional
mandate, directing and empowering the
Reserve Board, Reserve banks and the
Treasury to force frozen deposits into
circulation. Owen, now a lawyer in
Washington, says: "The depressions of
1907, 1921, 1882 and 1887 were due ex-
clusively to contraction of demand bank
deposits in circulation. These deposits
function as the reservoir of check money,
which tranSacts 95 per cent of our ma
tional business. This money paid wages
and salaries, bought inventories, paid
taxes, interest, rent, debts. profits, in
Surance and living expenses. Demand
bank deposits held dormant contract
the circulating medium. Nearly half
of them is now frozen, reducing the
money supply correspondingly. The
remedy is to induce such deposits to
circulate by declared congressional
monetary policy to restore the normal
pre-depression price level, thus guaran-
teeing the rising value of property, COM
modities real estate and equities. Legis-
lative action to this end will give the
public confidence. Through the profit
motive it will restore demand bank de-
posits to active circulation and provide
means for fullest employment of labor
and capital, thus achieving the highest
standard of living through abundance.
The policy OF abundance is better than
the policy of scarcity"
X
Yesterdays senatorial primaries in
Alabama we're the curtain-raiser for
primaries to be held in AZ other States
between April IL dn IllinoiS and Sep
tember 13 Gin Utah). Nine Democratic
Senators who opposed the Roosevelt
Supreme Court bill are up for renomina-
ton, while 18 who supported the Presi-
dent will face the guns OF their re-
spective celebrates. Politicians are pre-
pared to determine from the fate of
these q aspirants for self-perpetuation
whether or not the Democratic party in
1898 remains Roosevelt-controlled.
(Copyrisht, 1o38)