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WEDNESDAY, DECEMBER 27, 1933,
AMERICA'S BURDEN
NOTES OF THE DAY ROOSEVELT AND The Very Idea!
FILMS AND PEACE
Over 10,000,000,000 attendances are annually registered by the 61,- 500 cinemas scattered throughout the world number seven times as great na the total population of the globe. If so many people aro see-
Ing films, then their influence must bo colossal, and ono is forced to query whether the world-Influenco Is altogether for the good. What ever may be one's personal answer to that question, nobody doubts that the Influence of the film might certainly be very powerful for good and, internationally, powerful for the promotion of better understand ing between nations. Peace propagandists have concentrated an trying to show people the "war horror filma which shock people Into a realisation of the brutalities of chaos, but it is, far better, with out ever forgetting such possibili-, ties, to turn attention to the future.
JA
FILM OF REALITY
The Film fixea actions and, through these, also thoughts and ideas, in a form which can be multiplied by the taking of several copies and then distributed all over the world or as far as that is allowed-and then shown simul- taneously to thousands of peoples. It is the film of reality, and not that of fiction, which gives neonies real knowledge of others, and it fa that type of him whien should be encouraged. It is exactly that type film against which, however, national restrictions have weighed hardest.
ANOMALY RECOGNISED
CONGRESS.
By J. C. JOHNSTONE
pred in a desperate race overtook Germany, France, and RESIDENT ROOSEVELT IS the disastrous consequences which against time. In January he must other Continental Inflation-addicts give to Congress an account of his after the War. Is there, then, any stowardship. To retain his free-warrant for bolleving that aimilar dom of initiative and his political consequences would attend an in- ascendancy over that extremely flationary experiment by Mr. jealous and critica assembly, he Roosevelt? That basic ground of must be able to justify his policy hostility to inflation was summed by results. Less than two months up in a resolution adopted by the hence there must be plausible Advisory Council of the Federal evidence that the tide of prosperity Reserve Board last week. "His- is ones more on the rise, and that i tory" they said, "shows that the it is Mr. Roosevelt who commands further currency Inflation gees the the tide.
more difficult it becomes to control,
If he continues to pin his faith in his present polley, his chances of auccean appear to be alight. It is vital to his whole plan that the enforced depreciation of the dollar should be accompanied by a sharp rise in commodity prices. But so far prices have remained obstinate. ly unresponsive, and Professor Sprague is perfectly right when he says there is no inherent reason why they should be anything else.
ADVERTISING PAYS By Edward Kelly, Doesn't WE'RE tired of being poor. W
What, with our chit ac- counts stopped all over the shroffa annoying us every day. place, and the dollar rising, and we've decided that it's about time we started out to earn some
money.
Real money, we mean, So we're Our Editor contende that wo going to quit being a journalist, quit long ago, but that's jealousy. we didn't read his leader yester day
Commencing next wock, we are going to branch out into business. and will start adverthing as soon
ences about payment with the and that it invariably results in two can settle some little differ untold losses to the great masses Advertising Manager. of the people and the ruin of the national credit."
Mr. Roosevelt, if he were so minded, could return a ready an- swer to the Advisory Council. Ho could point out that history, in- fact, affords no support for the assumption that Inflation is dif- cult to control unless the circum- stances in which it was initiated were outside the control of the Government.
Mr. Roosevelt, on the other hand,
The dollar oxchange policy is The French Government, for placing Mr. Roosevelt in a cleft instance, when it inflated in 1925-0 stick. It can only succeed in with notoriously, ruinous resulta, raising prices if it succeeds in was not a free agent. It had a frightenine holders of dollars into yawning Budget deficit which it commodities. But it will only was unable to bridge either by re- frighten them if the dollar appears ducing expenditure or by increas- to be getting out of hand. That, ing taxation. In order to cover however, as Mr. Roosevelt is current expenditure it had no re evidently aware, would spell com-source but to obtain revenue by plots disaster. He has already printing notes. As a result partly shown that he la both able and to the direct, influence on prices determined to keep the dollar un- of the additional notes, partly of der control, and to permit de-[the general breakdown of con- 'preciation only at his own pace. fidence, Government expenditure Import and Customs duties on
But by keeping the dollar under rose na fast as the printing press films are levied according to their control he removes all ground for turned out the notes, and so the length and without regard to the fright. It is a safe calculation "vicious circle of inflation" was subject-matter. Tho
educational that he is not going to allow the act in motion. The, significant film, made often on the least pos- dollar, which now stands at about feature about this is that the OF DEBTS
cents. French Government was acting sible financial outlay, faces an im- 60 cents, fall below 50
mini- from the start and throughout Arguments concerning Presid-portant item in these dutics, but A dollar pegged at this
to the entertainment film, mademum, however, carries with it under duress, and everyone knew ent Roosevelt's monetary policy with a invish expenditure of tens no economic reason for more than that it could not help itself. All a fractional rise in domestic com-the other Continental Governments are arising to heaven these days of thousands of pounds, the duca
Mr. Roosevelt, which inflated after the War wore are a mere bagatelle. Furthermore, modity prices. like a drifting fog about a
educational films have never con- accordingly, is in the position of more or leas similarly placed. mountain peak, And, to con- tributed more than a very small either having to burn his house. tinue the metaphor, the peak fraction of a nation's revenues from down to roast his pig, or elae of would be able to produce.convinc- this source. This anomaly has having no roast pig; and it must ing evidence that he was in an which they veil is the enormous been recognised for some time, but be concluded that the pig will re- utterly different position. He has mass of debts piled up in the clearly some central authority had main unroasted,
no unusually alarming Budget to be provided which could dis- Apprehension. Indeed, is being deficit and he is not at his wits boom days. In other words, this pile of debts is the central criminate between the two types of expressed in America on another end for new revenue. He is an films. The International Institute score. Government bonds have absolutely free agent at the start fact in the whole matter. The of Educational Cinematography at commenced to fall under the in- to inflate or not to infinte, The of inflation, Rome, is just such a body and now, fluence of Mr. Roosevelt's dollar rise in prices which was the main pros and
by virtue of a Convention which polley, and it is suggested that this source of the French Government's managed currencies and the line just been concluded between | fall "will presently gather such anxiety, is the main object of his like hang over it, sometimes ro- thirty-eight nations, that Institute momentum as to put the Treasury ambition. He could inflate in has been invested with the power out of court as a borrower. In large doses or small at will accord- vealing it and sometimes obscur-
to grant certificates to educational that case it would be compelled to ing to the result, and as soon as ing it. In the boom days, far-films. This Convention la, there inflate both to meet substantial prices showed a satisfactory re- mers, business houses and in- fore, an important, If amall, ponding maturities and to defray ponse he could stop. There would dustrial concerns went heavily achievement on the part of
the current expenditure, and the stage I be no danger of his Budget getting League of Nations, for any films would be set for uncontrolled In-Tout of balance. On the contrary, into debt. Meanwhile, money
with such a certifiente will beflation. Psychology is no incalcul he might argue,
the general became scarcer, and people granted free entry to any of the able that it would be unwise to stimulus to economic activity found it necessary to conduct signatory nations, including the rule-out-this-possibility. A sori- would increase his revenue-and
United States, Great Britain, ous
fall in Government credit, render his Budget easier-not business and personal affairs France, Germany and Italy, however, is scarcely likely except more difficult to balance. with fewer dollars than they had
as a symptom of panic-and panic, as we have shown, is an improbable before. But the mountain of debt remained unchanged, and MORE SEA SERPENTS ! it stands to-day, its crags gloomy and bleak. In one way or another, the mountain has to be whittled down in size. The efforts of the Roosevelt Ad- ministration may look too much like an effort to move mountains by faith alone to suit practical But the job has to be done some way or another.
men.
cons
consequence of the present policy.
瘸
In the meantime, as we have this column at our disposal we don't see why we shouldn't mako use of it without charge:
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many tough problems. the Loch Ness folk_a_grievance
printing press, which would soon against the incredulous. The
Young men who resido in the trouble, it seems, is that the first solve the price problem for him. printing press would be kept at all
busy; one or two small issues East should realise how those officer saw a sea serpent, told about Why should a man who so gaily would suffice to send holders of it--and discovered that nobody be- throws orthodoxy to the winds dollars scuttling into commodities, lieved him, even made rude jokes,oggle over assailing its lasten and up would go prices. It would
(Continued on Page 5.),
The glimpse was vouchsafed to him as the ship was in the straits of
Time will prove whether Presid-San Juan de Fuca. The creature he Baw was "a great, col-like.
ent Roosevelt's methods are monster," with red and green right. There are people in eyes, seven humps like A camel, Amerien who do not like the idea and a face like a cow. It
measure Bome
90 of reducing the mass of debt by appeared to
feet in length, and it gaven great monkeying with the currency.
bollow before diving out of sight. What do they want, then? In
Our sympathies in the matter rest some quarters, it is urged that entirely with the mariner. I there should be a scaling down there are no monsters like this one, of all fired clinrges, from freight there certainly ought to be. A rates to utilities rates, coupled world that can generate Auch with a slash in mortgages, bonds fantastic creatures is infinitely and commercial loans. But more interesting and exciting than here, again, we find opinion one which cannot.
sharply divided. The task of
America's statesmen is to find a
way of getting rid of the load THE PRICE OF 'SKILL'
of debts in some way which the people will tolerate. The trou-
One of the most interesting law-
blo is that some of the actual suits for some time is the action methods being employed by filed against a New York legal firm President Roosevelt are, in fact, the other day by Mr. Conrad H. adding to the burden rather Mann, former head of the Eagles'
was convicted than lightening it. All the lodge. Mana huge loans which are a feature violating lottery laws, and promptly was pardoned by President Roo of his policy will have to be re-sevelt. The firm which he has sued paid some time," And the ques-served as his counsel during his tion which naturally suggests trial, and he is asking the damages itself is, where is the money to as compensation for "humiliation, Buffered come from? The Roosevelt shame, and disgrace" plans have, as we have before through alleged unskilful handling pointed out, reached a stage in of his case. The action raises a neat question: What claim has a which there can be no going client on his lawyer if he feels that back. For good or ill, the die his lawyer hasn't done his best for has been cast. Nothing less him? Mir, Mann tests that proper than the whole structure of conduct of his case would have won capitalism is on trial. So far, his acquittal. Whether he will be no deep impression, on the con- able to persuade a court that this tral problem has been made. contention is correct is another question; meanwhile, the legal pro- It is still in the lap of the gods fesalon gets an interesting new whether the Roosevelt policies angle on the old problem or a law- will succeed or fall.
yer's relation to his client,
trenchment? The answer' seems to lie in the still vivid memories of }
*
"I wouldn't wait for Elmor to fix that tooth. You know
ho has another year before he gets his diploma."
mishaps, which they considor es trifles and not worth worrying about, may lead to ruptured fivos, and cause even their sweathearts to turn away from them.
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