THE HERMISTON HERALD, HERMISTON, OREGON.
Thursday, October 8, 1936
OREGON STATE NEWS
OF GENERAL INTEREST
0
00707
by William Bruckart
National Press Building
Washington.—Mr. Secretary Mor
genthau lately has gone into the
money market to
We Borrow borrow approxi-
a Billion
mately one billion
dôllars. He asked
the banks and other people having
idle money to purchase four hun
dred millions in new government
bonds and at the same time asked
them to extend loans totalling about
$550,000,000 that matured on Sep
tember 15. The maturing securi
ties, of course, do not take new
money out of the money market,
but it is borrowing just the same
despite the technical name of re
funding.
The Treasury’s action in borrow
ing such a huge sum at this time
came as a surprise. To many finan
cial authorities, in fact to most
of them, there was no need for bor
rowing additional funds at this time.
It was a circumstance in which, as
far as most observers could sc 2, the
Treasury had idle money in suffi
cient amount to meet the needs
for the next several months.
Aside from the fact that the Sec
retary’s action results in an increase
in the public debt by the amount of
new money borrowed, it is a matter
deserving more than passing atten
tion — much more attention than
Treasury borrowings heretofore.
The reason is that the administra
tion is again piling up in the Treas
ury a huge amount of idle funds. As
nearly as I can calculate the re
sults of the September borrowings,
the Treasury will be left with a
mere $1,700,000 in unused cash. Of
course, to the Roosevelt admin
istration which has dealt only in bil
lions, this sum may not appear im
portant. Mr. Morgenthau said it
was necessary to have these funds
available because of “unsettled con
ditions’’ abroad. But that answer,
to me, does not suffice.
I recognize that most people find
little interest in discussing Treas
ury financial policies. I know from
the type of letters that I get from
those who do me the honor to read
these reports that the subject of
Treasury finance seems far re
moved from anything in which they
can possibly have un interest. But
notwithstanding those facts, I feel
the matter should be discussed in
every section of the country because
it directly touches every taxpayer;
and that is of vital importance.
Here is how it affects the taxpay
er and when I refer to the taxpayer
I refer to every individual in this
country, because all of us are pay
ing taxes either directly or indirect
ly; When the Treasury arranges
a cash balance, it provides funds
upon which the various government
agencies may draw in accordance
with congressional appropriations.
To that extent it is like money
you deposit in a bank. But other
wise it is quite different. The cash
balance in the Treasury lies idle.
It brings no return, no profit to any
body.
But it is important to remember
that there are only two ways in
which the Treasury can get money
for this cash balance, namely, by
borrowing or by taxing you and
me. During the Roosevelt admin
istration the Treasury has borrowed
about $2.12 for every dollar it has
collected in taxes. The result is a
gigantic public debt.
There is another result, however,
that is not as apparent to individu
als. Since the Treasury is borrow
ing money it has to pay interest on
what it borrows. You and I are
paying this interest in the form of
additional taxes. So, therefore, not
alone are we being taxed for the
money that is spent and which must
be repaid, but we are being taxed
to pay the interest on idle funds.
Mr. Morgenthau’s reference to un
settled conditions abroad directs at
tention to what is happening in Eu
rope and Asia and the link that ex
ists between those conditions and
our own.
President Roosevelt lately has
said on several occasions that he
.
did not like to be
Condition» away from Wash-
Abroad ington more than
four or five days
at a time because of those unsettled
conditions. Every one knows that
our foreign friends are rearming.
I believe every one realizes as
well, however, that each of those
foreign nations is in a position
where it cannot initiate hostilities.
At least, each one is in a position
where very great provocation must
occur before it can justify the start
ing of a war in the eyes of nations
like our own.
Any one who wishes to examine
those unsettled conditions will find
at the very bottom two types of
propaganda. One comes from Rus
sia, the other from Germany. The
two types of propagandists, while
violently hating each other, are
preaching exactly the same sort of
thing. They are telling the world
that if the world wants peace it
must align itself with one or the
other of the two schools of thought,
depending upon which type of prop
aganda you read. With circum
stances like that going on abroad,
it seems to me that we as Ameri
cans ought to realize fully—and
Washington, D. C.
ought to defend—the type of govern
ment that we have. Neither Stalin
nor Hitler preaches our type of eco
nomic thought. In view of that,
Americans surely ought to tighten
their girdle and take a definite stand
for the preservation of our tradi
tions, our practices, because it is
under those traditions and prac
tices that our nation has grown
great.
• • •
I have been a little bit dis
appointed that Mr. Roosevelt and
.
M r.
Secretary
American Hull of the State
Doctrine department have
not preached the
American doctrine at more length.
I am sure pronouncements by them
in condemnation of communism or
fascism would find a hearty re
sponse at the hands of the Ameri
can people.
It is to be recognized that
changes take place in world econom
ic and political thought. They are
taking place in our country. More
are coming. But I condemn the
practices of communism and fas
cism because they have ruined the
lives of all excepting a few people
in every nation where those poli
cies are operative. They will de
stroy the independence of thought
and action, the happiness, that we
have come to know in this country
as a natural right.
In negotiations with foreign pow
ers, Mr. Roosevelt has not been
fortunate. I think it is generally
agreed among qbservers that the
President fumbled the ball when
he failed to take advantage of a
splendid opportunity to deal with
France and Great Britain when he
first became President. Likewise,
I know there are many students
who are convinced that the Presi
dent by his own acts broke up the
London economic conference in the
summer of 1933 and with the col
lapse of that London meeting went
any hope for an early recovery from
the depression cn a world basis.
The war debts question still hangs
in mid air. The recognition of Rus
sia I am convinced turned out to
be a fizzle. The far eastern pro
gram, if there was a program, has
yielded nothing because it must be
said in truth we have not cemented
our friendship with Japan.
• • •
Within the last few days we have
seen the collapse of the French cur-
rency. We have
F rance Oft seen the Presi-
Gold Standard dent join with
Great Britain in
co-operating with the French in
their difficulty. Yet, it is appar
ent to anyone who will review the
financial and economic history of
the last three years that the French
have made a great effort to re
main on the gold standard—and
they had no help from us until they
could no longer stand the strain.
It is always easier to use hind
sight than foresight. It is easier as
well to call attention to mistakes
three years after those mistakes
have been made than to take a
bold stand when the errors were
first discussed. These facts, how
ever, do not in any way lighten the
responsibility that was ours as a
nation in 1933.
I refer again to the London eco
nomic conference and the events
prior to it in 1933. There were
plenty of men in the United States
at that time who said openly that
the United States should move
quickly and take leadership in world
stabilization of currencies. It ap
peared for a time that President
Roosevelt would take that action
but instead he is charged with hav
ing broken up the London confer
ence because he failed to assume
that leadership which he could have
had.
That brings us to the link be-
iween the United States and the
conditions of Europe. Mr. Roose
velt, through Secretary Morgen
thau, says now that the United
States will stand with Great Britain
in helping the French. The question
naturally arises why did not the
United States stand with France
in 1933 when France and a half
dozen other European nations want
ed to remain on the gold standard
for its currency.
Personally, I have never seen any
reason why the United States should
have devalued its dollar as was
done. If we had not devalued, one
thing is quite certain: Maintenance
of the gold standard by the United
States would have continued to
strengthen the currency of those
countries in Europe, including
France, that desired to continue
that currency basis.
I have heard it said as well that
if the United States had rema:ned
on the gold standard instead of de
valuing its dollar. Great Britain
would have been able soon to have
restored her currency to a gold
basis. Certainly, the British could
not have remained off of gold as
long as they have if gold coin were
allowed to circulate in the United
States. I believe no one can fore
cast at this time exactly what the
results of the French devaluation
will be.
© Western Newspaper Union.
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Briet Resume ot Happenings
of the Week Collected tor
Our Readers
Nehalem—The handsome new 267-
foot span across the Nehalem river,
built by the CCC was dedicated re
cently.
Dallas—Thirty business men have
undertaken the task of raising $1500
which will be used to finance the
lighting of the football field.
Eugene — Lane county’s filbert
crop said to be the finest in years,
is now being harvested and growers
are enjoying slightly higher prices.
Eugene — Several cotton plants,
grown near here from seed obtained
in the south, were on display re
cently at the Register-Guard offices.
Astoria—A draft for $550 donated
by citizens of Astoria was the first
contribution received by the Red
Cross for relief of the Bandon fire
refugees.
Forest Grove—The entomological
station. United States department of
agriculture will remain in Forest
Grove. Lease of new quarters has
been approved.
Portland—Chief of Police, L. V.
Jenkins, was elected president of
the International Association of
chiefs of police at its recent conven
tion in Kansas City.
Praising California.
ERNALIS, CALIF. — They
used to say that California
flowers had no real smell, and that
California birds had no song—and
that’s a lie because the resident
mocking bird feels it his Christian
duty to get right under my bed-
room window and sing all night
—and that California grown foods
had no flavor.
V
It’s true California still produces
one pear which suggests a low
grade of damp cot
ton batting, and one
variety of fig which
could pass for li
brary paste, and a
certain tropical
pawpaw
which
makes you think
you’ve been licking
postage stamps. And
there’s a special
breed of mushrooms
which is about the
size of a derby hat Irvin S. Cobb
and tastes like one.
But we can grow apricots and
cherries and nectarines and peaches
as toothsome as you’d ask for; and
Halsey—C. L. Falk and Sons’ prize noble berries and luscious prunes
bull won the blue ribbon of senior and delectable grapes; and, on this
and grand champion bull at the West great ranch, about the finest mel
ern Washington fair recently held ons. I ever ate. There’s likewise a
red onion which has a taste all
at Puyallup, Washington.
right—eat it raw and you taste it
Portland—Word received here re for days and days.
cently shows that industrial employ
And if you think our flowers don’t
ment increased 3.1 per cent, between smell enough, try our politics.
July and August, 1936. Payroll vol
ume Increased 4 per cent.
Troubles of a Pioneer.
Salem—Profits of the Oregon li T IFE in these parts is just one
quor commission for the first eight — thing after another, and some
months of this year were $1,531,824 times it’s several things after an
including receipts from stores and other, all at once -such as the rush
of the autograph collectors upon a
agencies, licenses, and privilege poor, shy movie star, or the yelp
taxes.
ing onslaught of our estate beagles
Salem—Patrolman Thompson car when a visiting nobleman incau
ries the same sap he purchased when tiously intimates that he might
he first became a member of the sell his trailer and buy a lot.
But complications also pile up for
force here in 1911. He recently stated
he has struck only one man with the a life-long resident who has been
here, as I have, nearly two years
weapon.
now and so is qualified to join the
Salem—The Infectious brain fever Early Pioneers’ California society.
that has caused a large loss of horses Here I go and take on a radio pro
this past summer in eastern and gram—and I did so hope to fly east
southeastern Oregon has been check to see what Mrs. Harrison Williams
ed, the state department of agricul will be wearing this fall. At times
the temptation just to drop every
ture reported recently.
thing and start has been well-nigh
Lakeview—The local water com overpowering.
mission has a new water problem on
its hands that may prove to be a
boon, though at present it is just
another problem, namely a hot spring
at the depth of 2072 feet.
Reducing Motor Accidents.
UX/ E’RE great people at starting
something, but, just then,
along comes a new crusade or a
new movement or a new style in di
vided skirts and we trail off after
that, forgetting the issue which had
seemed so passionately important.
Last January we were all enlist
ing to make 1936 a safer year on
the highroad. With the year nearly
three-fourths gone, what have we
done to reduce the appalling mor
tality? And what are we going to do
before all of us, except the idiots
and drunkards, who are supposed to
be the special ward of providence,
have been mowed down?
I’m reminded of the colored man
in Mississippi who was convicted
of murder, and his lawyer forgot
to file an appeal, and finally the
condemned man sat down and wrote
this letter: “Dear Guvnor: Please,
suh, I is on the middle of a purticu-
lar fix and onlessen you do some
thin’ right away, they hang me
Friday—here 'tis Wednesday al
ready!’’
• • •
Monroe—The Fiber Flax Company
recently organized at Vancouver,
Washington has announced the plans
for the erection of a retting mill near
here. The company plans to have
farmers sign up about 200 acres of
flax.
Klamath Falls—Numerous Inquir
ies have been received from Oregon
and California points at the head
quarters of Klamath reclamation
project concerning the Tule lake
leased land. It is expected that bids
will be advertised some time this
month.
Vale—“It's an ill wind that blows
no good’’ has been proving true for
Malheur lettuce growers. The let
tuce strike in Salinas, California is
sending the price of lettuce on the
Eastern markets skyward and this is
proving very much of a boon to the
local growers who as a result see a
big season ahead.
Bend—Dry weather has always
been with us, a party of scientists,
recent visitors at the ice caves 15
miles south of here, reported. They
found burned sticks in the caverns.
It is their theory that Indians press
ed for a cool drink during dry weath
er, used the heated sticks to melt
ice for drinking water.
Salem—A woman called State Pur
chasing Agent Fry ont of bed one
morning recently with a plea for
him to see that the construction of
the high board fence around the cap
itol building excavation be discontin
ued so that her small boy, too young
to attend school, might watch activ
ities. The child it seems does not
bother her when watching the work
men and yet she knows where he Is.
Saving Your Teeth.
HOUGH thy teeth be but state
ly ruins, with English ivy grow
ing all over them and bullbats nest
ing in the hollows, fight off for as
long as possible those who think the
root of all evil is the bottom of your
remaining bicuspid. Don’t let ’em
be too fast about photographing
your jaw either.
No man ever yet had an X-ray
picture that flattered him. Particu
larly is that true when it's an in
terior view of the human face.
Because, the next thing you know,
a gentleman in a white smock is
testing some forceps and saying,
“This may hurt—just a little.” And
then the next thing after that, your
uppers are as false as Judas.
I did so and the result is that, no
matter what else is on the menu, I
go in for the Cobb pink plate spe
cial. A fellow does get tired of
having everything he eats taste like
rubber.
IRVIN S. COBB.
T
BEARS 1STH CHILD
Portland—Mrs. George B. Brack-
enbury became the mother of her
18th child the city health department
was advised when a birth certificate
was filed for a recent birth.
The mother is 39 years old, her
husband is 49 and a laborer. Thir
teen of the children are living.
Astoria—Not since the fire of 1922
have firemen had such a workout as
they had recently when four false
alarms were turned in all on the same
day. Two men were arrested on
chargee of turning in false alarms.
Estacada — "Everywhere through
out the state the proposition ad
vanced by the Estacada Chamber of
Commerce to establish the summer
capital of the United States in the
Squaw mountain region is receiving
much support," declared L. D.
Headed, president, recently.
©— WNU Service.
i
(
|
|
Sea Horse Is a Fish
The sea horse is a fish, but a very
strange kind of fish. It spends al
most all the time in an upright posi
tion, with its head up and its tail
down. With the tail it can do some
thing which the common fish can’t
do. It can cling to a weed. A sea
horse swims while in upright posi
tion. A fin on the back is moved
to give forward motion, and this fin
has been compared to a propeller.
It does not look or turn just like a
propeller, but it gives about the
same result. An air sac, or “swim
bladder,” helps the sea horse keep
in balance. Most of the time, how
ever, the fish holds tightly to a sea
weed, wrapping its tail around in
spiral fashion.
Dr. Pierce’s Pleasant Pellets are the orig-
inai little liver pills put up 60 years ago.
They regulate liver and bowels.— Adv.
Self-Proclaiming
Don’t forget that an honest man
never has to proclaim the fact.
300 CANDLEPOWER
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But It Will Rise
Truth can be lost in a flood of
words.
• Question,
Drain all juices from fresh or
canned fruits, store in ice box
and use for fruit cocktails or sher
bets.
• • •
Before putting away garden
tools for the winter, clean them
off, rub with kerosene or grease
and store in a dry place.
• • •
When buying fish see that the
eyes are not sunken in and dull.
A fresh fish has clear eyes and
the flesh is firm to the touch.
• • •
It the neck of a bottle is broken
when opening, tie a pad of ab
sorbent cotton over the top of
another bottle and pour contents
of broken bottle through it. Cot
ton will catch pieces of glass as
liquid is poured through.
* * *
Marks on painted walls which
have been caused by carelessly
striking matches on them will dis
appear if rubbed first with the
cut surface of a lemon, then with
a clean cloth dipped in whiting.
Afterward wash the surface with
warm water and soap, and then
quickly wipe with a clean cloth
wrung out of clear water.
* * *
In the fall pack plenty of oak
leaves around the roots of acid
soil plants, such as daphnes, aza
leas and rhododendrons. These
leaves rot and make an excellent
fertilizer. They may be mixed
with the soil in the spring.
* • •
Hard cooked eggs, sliced, are
made a tasty dish when added
to a thickened tomato sauce and
the whole sprinkled with cheese
and baked 20 minutes. This is
good for evening refreshments or
Sunday supper on a rainy night.
• • •
Sour milk beaten into mayon
naise dressing gives it a delicious
flavor.
•
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© Bell Syndicat«.—WNU Service.
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Specialists set example for mothers everywhere