PAGE EIGHT THE MICHIGAN DAILY SUNDAY, OCTOBER 29 1950 ,. y FOREIGN MONEY GAINS: Professors Explain Weakened Dollar v 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- gram." "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- tinued. "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- tinued. * * * "THE VIRTUAL elimination of Atom Scientist Will Discuss Religion Today Robert Millikan, atomic physi- cist, will speak at the First Metho- dfst Church morning worship serv- ice today.. "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- ion." 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- tion. 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. Watkins remarked. "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- port capacity. "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 recovery.' 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 sign. 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- plained. Extensions Considered By WSSF 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- dents. Kitchen, who visited student- sponsored projects in Germany in April, said German students, need more aid to develop the student centers. 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. PICT In jn I 4 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- iginal production. 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 pointedly. 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 Musicales: 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 and production. 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 Daily Classifieds 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. U U 6:45 9:00 OF A.. . . It's . ou THE . CK Music Time Flashes News Flashes Hot Flashes Calisthenics Zodiac Readings 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, IT FI.L P. Kv! Start off for class with a song!! I r . r ; i..,,:;:< fi'?? $9E .... .... o?::: 'N".a ??:a: :;::::_+z -':~:-~: