THE MICHIGAN DAILY
SUNDAY, OCTOBER 29 1950
FOREIGN MONEY GAINS:
Professors Explain Weakened Dollar
European currencies recently
have strengthened considerably in
relation to the American dollar.
Does this gain show genuine
European recovery or is it merely
caused by a weakening of the
value of the dollar? Faculty mem-
bers of the economics department
viewed the change with varying
degrees of optimism.
PROF. LEONARD Watkins com-
mented that the general weakness
of the American dollar in relation
to foreign currencies reflects im-
mediately the impact of the Kor-
ean war and our rearmament pro-
"The rise of American prices
has curtailed our exports, and
our s$ockpiling and other mili-
tary needs have increased our
imports, especially of raw ma-
terials," Prof. Watkins con-
"In consequence of these trade
shifts, foreign countries have
achieved a better trade balance
with us and have obtained larger
gold and dollar balances," he con-
* * *
"THE VIRTUAL elimination of
Robert Millikan, atomic physi-
cist, will speak at the First Metho-
dfst Church morning worship serv-
"Religion, A Vital Pillar of Civil-
ization" will be the topic of his
address. He will speak on a simi-
lar subject before the Wesley
Foundation at 6:30 p.m. today.
The author of several books,
Millikan's latest publication was
"Cosmic Rays," published in 1939.
He has also written a book entitled
"Evolution of Science and Relig-
Included among the numerous
awards he has received are the
Roosevelt Memorial association
gold medal in 1932, the Nobel Prize
in 1923, given for his achievements
in experiments establishing the
electrical nature of the electron,
\and the Comstock Prize in 1913.
From 1921 to 1945, Millikan was
the director of the Norman Bridge
Laboratory of Physics at the Cali-
fornia Institute of Technology in
Pasadena. He has been professor
emeritus and vice-president of the
board of trustees since 1946.
Millikan is the second lecturer
to appear here for the 1950-51
Henry Martin Loud Lecture series,
sponsored by the Wesley Founda-
the world dollar shortage within a
few months represents a spectacu-
lar change in our world trade po-
sition and has been hailed by.
some commentators as the reali-
zation of our objective of a better
balance in world trade," Prof.
"Some real progress has been
made since the war by Euro-
pean countries by expanding
production, which has lessened
their dependence on American
imports andincreased their ex-
"But it should not be conclud-
ed that all of the fundamental
factors responsible for the dollar
shortage have been overcome. Im-
mediate improvement in the Euro-
pean situation has been obtained
in large degree by our swollen mili-
tary expenditures and inflation,"
Prof. Watkins emphasized.
* * *
PROF. RICHARD Musgrave felt
that the strengthening of Euro-
pean currencies was good insofar
as it reflected real European re-
covery. Because the trend, had
started before Korea, there has
undoubtedly been some genuine
But Prof. Musgrave feared
that the shift was to a large
extent being brought about by
the present military situation
and our rearmament program.
"The Europeans will probably
be expected eventually to match
our rearmament program. Thus
the gains they have made will be
more than offset by their having
to divert their own resources into
military channels, resulting in a
lower standard of living for them,"
Prof. Musgrave stated.
BUT PROF. W. F. Stolper was
more optimistic about the situa-
tion. He felt that the strengthen-
ing of European currencies was on
the whole a healthy economic
Prof. Stolper cited two main
reasons for the improved situa-
tion, the American business
boom and the devaluation of
foreign currencies in the latter
part of 1949
"The American boom has beet
caused mainly by the tremendous
increases in consumer credit and
mortgages. Defense spending has
as yet been a secondary factor.
"The devaluation had the effect
of making American goods more
expensive to Europe, so our ex-
ports dropped," Prof. Stolper ex-
Students representing 25 cam-
puses in Michigan and upper Ohio
met yesterday at the World Stu-
dent Service Fund Area Confer-
ence in the League.
The groups discussed a propos-
ed program for the coming year.
The program will emphasize de-
velopment of student centers at
universities In Europe and Asia.
"WE ARE TRYING to help Eur-
opean students build a new phil-
osophy of life," Wilmer Kitchen,
executive secretary of WSSF; said
in his morning speech to the stu-
Kitchen, who visited student-
sponsored projects in Germany
in April, said German students,
need more aid to develop the
Also stressing the need for cent-
ers in India, Kitchen described
the desperate situation of that'
country since it was divided nto
two separate states. "The most
important thing we can do," he
said, "is to bring the Indians the
tremendous impact of human
friendship to let them know that
we are concerned."
WSSF HAS continued its aid to
Chinese students through religious
centers In China which are not
controlled by the Communist gov-
ernment, Kitchen explained. Al-
though the allocation of funds
through these centers restricts the
full relief program, it gives WSSF
a chance to continue its relations
with the Far East.
Kitchen emphasized the need
for more funds to develop the
WSSF program. The $800,000
collected last year was only
enough to aid those students in
dire emergency, he said.
On an international, national,
and local level, WSSF committees
plan to integrate their programs
of cultural and material aid with
those of UNESCO.
Ideas presented at the confer-
ence are intended to help students
to integrate their educational pro-
grams and fund-raising campaigns
on their individual campuses.
The local WSSF fund drive has
been postponed until January by
a Student Affairs Committee rul-
ing instead of beginning November
1 as originally planned.
C O 1 F F U R E - New hairdo
in Paris with figure eight chig-
non at nape held by two diamond
clips, follows long-hair school.
M O R N I N G C O N F E R E N C E - Oscar, a parakeet, discusses affairs with his Pomeranian
playmate, Puggy, in the home of their owners, Mr. and Mrs. H. M. Eickmeyer, at Spokane, Wash.
£ooh an] LtZen
with LEAH MARKS
While most television programs
continue to imitate movies, stage
plays or radio, Dave Garroway
keeps experimenting with video
and has gained an enthusiastic
audience because of it.
On his recent Sunday shows
over WWJ-TV at 10 p.m., Garro-
way used music from actual musi-
cal comedies, but gave each tune
a background of its own that was
completely independent of the or-
This individualistic approach is
typical of "Garroway at Large,"
one of the most calming sights on
television. The cast sings, dances
and talks together in a relaxed
manner which is communicated -to
the listeners. Cliff Norton and
Garroway never try for laughs;
the laughs just seem to slide in
and out without being referred to
Expert singing is done by Bette
Chapel, Connie Russell, Cliff Nor-
ton and Jack Haskell, who always
keep the mood Hof the songs intact.
s * *.
"YOUR HIT PARADE" does not
nearly measure up to Garroway's
show. "Your Hit Parade" producers
seem ashamed that this is just
a musical program and try to hide
the fact that the real substance
of the show is in the music.
Though music is reason that
people tune in, the singers are
forced to act everything from lush
queens to flapjack flippers.
As a result, Dorothy Conner's
fine singing of "Home Cookin"'
was lost to listeners who were busy
taking bets on her chances of flip-
ping all the pancakes. She did a
fine Job-of ignoring a missed flip,
but no one watching did.
As the weeks pass the producers
may stop subordinating the sing-
ing to-the settings. If they do this
the 10:30 p.m. Saturday broadcast
may be the pride of WWJ-TV.
Other 'Entertaining Television
Today: 7:30 p.m.-WXYZ-TV-
Showtime, U.S.A., always some
good musical sections mixed in
with other artistic stunts.
Monday: 9:30 p.m.-WWJ-TV--
Musical Comedy Time, popular
musicals of the past with fine casts
E N R 0 U T E T 0 B E R L I N-Displaced children present
a scroll to Frederick Osborn, Crusade for Freedom chairman, as
the Liberty Bell, enroante to Berlin, is loaded at New York.
Read and Use
B I G B E L T - A visitor inspects a 45,000-pound roll of 48-
inch-wide belting at Goodrich plant, Okron, 0. The roll will be
tt shipped to Baltimore to carry ore from ship to shore.
. . It's
S T A R S H 0 P P E R-Actress Yvonne De Carlo shops about
a native Indian pottery store in South Dakota's Sioux Indian
country where she is on location for new film.
PILGRIMS DANCE - Sicilian Holy Year pilgrims
Franca Riela and Elvira Ferrara improvise a costumed folk dance
for their associates before visiting St. Peter's in Vatican City,
Start off for class with a song!! I
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