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August 10, 1932 - Image 2

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Publication:
Michigan Daily, 1932-08-10

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THE MICHIGAN DAILY

diehigan Daily
Established 1890

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Pu1lished every morning except Monday during the
tU$f$ sty year and Summer Session by the Board in
Q oniof Student Pblications.
Member of the Western Conference Editorial Associa-
tion and the Big Ten News Service.
MEMBER OF THE ASSOCIATED PRESS
Thie Associate Press is exclusively entitled to the use
for republication of all news dispatches credited to it or
not otherwise credited in this paper and the local news
puibshed herein. All rights of republication of special
dispatches are reserved.
Entered at the Post Office at Ann Arbor, Michigan, as
second class matter. Special rate of postage granted by
Third Assistant Postmaster General.
Subscription during summer by carrier, $1.00; by mail,
$1.50. During regular school year by carrier, $4.00; by
mnt, $45.
OMfces: Student Publications Building, Maynard Street,
Ann Arbor, Michigan. Phone: 2-1214.
Representatives: Littell-Murray-Rutsky, Inc., 40 East
ThgrtyZourth Street, NeW' York City; 80 Boylston Street,
Boston, Mass.; 612 North Michigan Avenue, Chicago, Ill.
EDITORIAL STAFF
Offoce Hours: 2-12 P.M.
Editrl Direetor..................Beach Conger, Jr.
C Etor.............................Carl S. Forsythe
Stat Edior ...... ...................Davi4 M. Nichol
ewsEitor..............................Denton Kunze
T"egraph Editor...................Thomas Connellan
Bpts Editor ........................... H. Beukema
Assstant City Editor.....................Norman F. Kraft
BUSINESS ST
Oice Hours: 9-22-5 ece t.Sturcay
Business Ma ager... . .. Chare;a T. e
&ssant Business Manager.........Norris P. Johnson
CtIrclation Manager...............Clinton B. Conger
WEDNESDAY AUG. 1, 1932
New Causes
For Otimsm1 .
The rosy road to prosprity seems, to a large
numler of people, to have opened again. There
have been slight advances in the stock market,
Vproved movements in various raw products,
icldig grain, livestock, and o.tton, and a gen-
er. y inproved attitude on the part of business
men everywhere. This has been coupled with
widely scattered reports of the return of men to
thei Qccupation)s.
Far be it from us to be pessimistic about the
entire thing, but the depression is not a small
item which may be cleared away with the return
ofa few hundred lnen to work or with a couple
of qu.otations on a stock ticker. It will be some
time before it can be said that prosperity has
returned.
Sth first place, we must discount to a large
extent the movements of the ticker. Despite the
consistent upward trend of the past few days
it may still be the reslt of manipulation. Politics
may even, have entered into some of the buying
and selling which has occurred.
Much more fundamental, however, is the return
of men to their work. Cobined with the climb
of sale of the basic commodity prices, this may
well be considered the sign of a much better day
in the near future.
Underneath it all is the psychology of confi-
donce. This has been chiefly noticeable by its
absence in the past few years. If, however, we
may believe the leaders of several of the larger
idtries in the country, there has occurred a
very definite change here. It is reflected in the
attitude of banks, in the statements of industrialr
mgnates and, in a number of cases, in prices.
We are still a long way from prosperity but at
least there is new hope for recovery in the ac-
tIvities of the past two weeks.-
Ed ioril Comment
WORLD T ADg MEANS P$OSPERITY
(Detroit News)1
The State Department's recently announced de-
cision to accept the English invitation to inte-
national economic conference makes cheeringt
reading. Modified though our optimism is by offi-
caa and unofficial assurances that this or thatr

subject is specifically excluded from the confer-
ence's consideration, the fact that the Adminis-
tration has come to see the need of some positiveY
international action breeds a certain hopeful con-
fidence.
It was not so long ago that those who, with thez
most commendable intentions, were trying to .
make the country believe that its troubles wereI
mostly psychological, discovered that the homet
fmarket normally consumed over nine-tenths ofc
all we produced. The remaining portion which,I
due to the almost unimaginable wilfulness of for-a
ein politicians, the outside world was no longer
able to buy, was too trifling a matter to cause any
very serious difficulties. Safe behind the provi-
dential Hawley-Smooth tariff walls, America,once
she thought so, could build her own prosperity on
a basis of national self-sufficiency.
Except on the theory that modern civilizationv
had progressed to the dark end of a blind alley,p
such a doctrine was plainly fallacious. The wholed
organization of world agriculture and industrial

more than space permits. The following excerpt
must suffice:
"What determines value? Apparently, in order
to have value, any article must be allowed to move
to places where it is desired and relatively lacking.
When these two conditions are extreme, value
goes to its highest . . . But we have seen that
virtually all governments . . . are obstructing im-
ports. It is axiomatic, then, that what they are
obstructing is the surplus of other countries. Con-
sequently, everywhere surpluses remain at home
to rot. Witness the inevitable result. As surplus
has on value at home' it rots the whole domestic
market.
This disaster governments apparently have not
seen. Why need we bother with exports, we are
asked? Our home market normally takes 92 per
cent of all we produce. But with our normal
exports of wheat and cotton and automobiles and
farm machinery backing up, a price poison runs
to every corner of the country.
Destroy value and price takes vengeance. After
we awake to this simple result, let us choose
whether we relish nationalism, isolation, and self-
containment!"
There have been many causes operating to
obstruct imports and otherwise to disrupt the
highly organized business from which the whole
world formerly made a good living. The hateful
war-inheritances of fear and prejudice as well as
the burdens and maladjustments of the Versailles
Peace, currency gyrations and manipulations, gold
sterilization and gold raids, quotas, embargoes,
and, last but by no means least tariffs; these are
the ingredients which have paralyzed commerce
and destroyed values. They are for the most part
international in character and needing interna-
tional agreement for proper adjustment
If it is possible today to find a "better feeling"
and to point to signs of stirring activity, it is be-
cause some start has been made toward remedy-
ing these basic evils. Buy many problems remain
on whose solution real recovery must wait and
among them are some, such as specific tariffs,
which we are told are to be taboo at the porposed
conference. We must hope, however, that once
assembled the conference may be moved toac-
complishments more fundamental and more bene-
ficial than its agenda promises. The Washington
acceptance indicates that the necessity for such
action is better understood than ever before.
AN INDICTMENT FOR ATHLETIC WORSHIP
(Daily Trojan)
The Daily Trojan has from time to time re-
pulsed, scorned, and laughed at accusations from
jealous student newspapers of other institutions
to the effect that Southern California is conscious
of .little else but its athletic supremacy. It has
done this because it is quite certain that athletics
are not the predominant activity here, even apart
from academic activities.
Now it has another and more serious accusation
to refute. The latest is from none other than
Lewis Browne, undoubtedly one of the most
incisive thinkers to have been entertained as
guest lecturer on the Bovard auditorium platform.
He said last Thursday evening that in his tours
throughout the country he had often heard of
the Trojans, especially in their connection with
the Irish of Notre Dame. He had heard how their
football teams were invincible, or near to it. And
he added:
"I had often wondered if the University of
Southern California actually existed."
There was no malice in what he said. He was
quite friendly about it all. He had no intimations
about the scholastic accomplishments of the uni-
versity; he merely pointed out that as a casual
tourer. of the country he had often heard of the
university's athletic supremacy, but that he had
heard relatively nothing about any other facet
of the university's program.
This is a deplorable state of affairs, and there
is no denying it. Perhaps it is not easily avoidable.
The university is comparatively young, both
academically and athletically. Athletics are no-
toriously more attractive to general public fancy.
They make entertaining reading. There is no
so-called "hot news" in the university's substan-
tial and laudable building up of an academic
program under the directive genius of Dr. von
KleinSmid and the academic mastery of Dr.
Touton. Neither is it catching to public fancy
that the university should be engaged in a build-
ing program which will house its academic work
in surroundings worthy of the highest ideals in
education.
We are proud of our athletic teams. We believe
that in their own way they represent the uni-
versity and the student body meritoriously. We
admire them freely and without restraint or need
of restraint for they are and for no more than
what they are. Nevertheless it is certainly not
pleasant that the public at large should know
us only by this.
Perhaps over-zealous supporters of the univer-

sity athletic teams have been partly responsible.
Perhaps it is even true that the student body
has been more inclined than is conducive to in-
telligence in other phases of school activity to
worship athletic heroism.
Nevertheless such comments as Mr. Browne's,
made as they were without malice or any motive
for malice, are an indictment that cannot be
put aside. We can ridicule the student newspapers
of other universities who seize upon any possible
handle to cast aspersions at any institution which
beats them in the athletic contests that they
themselves are inclined to exalt and consider im-
portant.
We must, however, consider such casual com-,
rnents as Mr. Browne's more seriously. The uni-
versity and the student body should be known
for what it is. Its athletics are only a part and
pretend to be nothing more than a part. Never-
theless the student body at large should become
conscious of the.fact that there actually has been
over-emphasis. An attitude of mind more than
anything else will prevent this institution from
being known as one which worships its athletic
heroes.
Tales from Troy: "Ahoy, son, ahoy!" quoth
Diogenes, being intoxicated with sunshine and
forgetting to be Hellenically austere in manner and
language. "Tack neither to port nor to starboard
but rather sail the straightest course past the
charmers, Scylla and Charibdis. Remember,
Ulysses had a word for them. And besides, now-
adays, many a platinum blonde is merely nickel-
plated!"
"DISCRIMINATION" IN TRAFFIC LAW DRIVE?
(Ann Arbor Daily News)
A traffic law enforcement drive, undertaken last
week by the police department, has aroused some
protests. The Michigan Daily waxed quite in-
dignant, because of what appeared an effort to
discriminate against Summer Session students.

the "stop" regulations. We have become con-
vinced that there are altogether too many of
these "stop streets" in Ann Arbor, and that some
of them could be dispensed with handily without
creating unusual traffic hazards. But there i'.
no. reasonable excuse for drivers, students or
otherwise, to ignore the "stop" signs, unless brakes
are faulty, and if the brakes are faulty something
should be done about them. If there are to be
traffic regulations, they should be enforced in-
discriminately. There should be no discrimina-
tion, either against or in favor of University
students. A car operated by a local citizen cau
cause as serious an accident, by ignoring regula-
tions, as can one driven by a student. And vice
versa.
Solong as we have "stop" streets cars should
be required to pause at the designated intersec-
tions. If any fault is to be found with the degree
of enforcement in the past, it is on the grounds
that there has been insufficient, rather than too
much, effort upon the part of the police.
Obscene language by a traffic officer in making
an arrest is inexcusable, under any circumstances.
Profanity is inexcusable. Traffic officers should
keep their tempers and use judgment in their
choice of words, above all. Traffic law violators
are not gangsters. They should be treated firmly,
but gently. Traffic officers should be gentlemen.
And if editors of the Daily set out to investigate
a law enforcement campaign they were not en-
gaged. in an unlawful pastime. Representatives
of any newspaper are entitled to ascertain what
is going on.
Traffic law enforcement drives are of doubtful
value. But they are better than a perfunctory
effort at enforcement. There is danger in failure
to observe regulations, particularly at dangerous
corners. And, as far as discrimination is con-
cerned, we imagine it will be found that there
was discrimination only against the drivers who
failed to pause at "stop streets." Certainly any-
body who stops will not be arrested for not stop-
ping. To avoid apparent discrimination or inter-
ference with fundamental "rights," wny not .ob-
serve the regulations? Observance will make en-
forcement unnecessary.
THE BETTER BUSINESS OUTLOOK
(Indiana Daily Student)
The past three weeks have fairly tingled with
optimism in the business world as the stock
market has again turned its face toward the sun.
The market taken as a whole rose 37 per cent
in 22 days and railroads alone increased their
value 58 per cent. Brokers are again wearing the
bull market smile as the ticker brings reminis-
cences of the boom period days of 1929.
Experts are inclined to believe that the spurt
in security prices came as a result of the Lau-
sanne agreement, the cessation of gold with-
drawals and foreign buying of United States'
securities, the I. C. C. merger decision and the
expansion of credit.
The Press of the nation comes in for a share
of the credit in making the nation optimistic.
Reports of industries recalling a few men or
declaring a regular dividend have been shot over
the wires. Undoubtedly this has had much to
do with the stimulation of buying.
The Annalist lists the July commodity prices
index as 92.2 compared with 88.6 in June. All
the ground lost since February was reported to
have been made up. As a succor to the agricul-
tural interests, hogs and cattle began to go up,
hides re-acted favorably owing to the increased
demand for leather in the shoe industries. Hot,
dry weather in Canada and the United States
northwest has caused many farmers to hold their
wheat for better prices.

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420 Lexington Avenue,

1*
A Washington
BYSTANDER
By Kirke Simpson
WASHINGTON, Aug. 9.-UP)-When President
Hoover picked his own successor as commerce
secretary, it is to be assumed he gave that cabi-
net selection very special consideration.
The department had been so completely
"Hooverized" during his long tenure under Presi-
dents Harding and Coolidge that despite the brief
interval between Mr. Hoover's resignation as
commerce secretary and his inauguration as presi-
dent, it was essentially still a Hoover model when
Robert P. Lamont took it over.
No personal political ambitions or even a desire
to see his own name frequently in print troubled
Lamont's administration as commerce secretary.
He was the shrinking violet of the cabinet, the
one man, it was said, of the President's official
family who devoted a lot of time to thinking up
reasons why he should not make speeches.
NO ORATORY LOST
Lamont has now retired from the cabinet in
favor of Roy D. Chapin, of the automotive in-
dustry.
While Mr. Hoover expressed his regret at the
loss of Lamont's services, clearly his resignation
will leave no gap in the cabinet battery of cam-
paign orators upon whom the President will lean
heavily in his drive for re-election. From the
stump-speech aspect of his cabinet, Lamont fig-
ured not at all.
The retiring secretary may have made a speech
or two in his cabinet years. The news file records
of his personal activities, however, do not show
that he ever did. They emphasize only his re-
luctance to speak and form a unique chapter
among the files.
Astonishingly few stories of any kind about
him, aside from his official acts, came to the
surface during his Washington residence.
Compare the Lamont file with that of "Uncle
Andy" Mellon or Secretary Mills; with the records
of the doings of Secretary Pat Hurley, Secretary
Arthur Hyde or Postmaster General Walter Brown
and it develops that Lamont, for all his personal
popularity, left Washington. almost as unknown
to political news readers as he was when he came.
CHAPIN MORE VOCAL
Secretary Chapin is apt to prove a different
type, by all accounts. He has been an active unit
of the motor car industry and in related fields
like good roads agitation so long that campaign
speech making should come easy to him.
He is a valuable recruit in that respect and
no doubt will be heard from "on the stump"-

S TEPPI.N ,r-~1-NT O A MODEURN WOR..D

A group attack ont
Research, finding answers to the eternal
x = ?, keeps step in the Bell System with
the new industrial viewpoint.
The joy in working out studies in de-
N'elopment is shared by many. Results are
reached by group effort. Striving to-
gether, the mature engineer and his
younger assistants, each contributes to
the final solution of the problem.

h industry
Men of the Bell Telephone Labora-
tories are sharing in useful, interesting
research. They are getting valuable train-
ing in the modern strategy of organization
attack.
And because that strategy assures them
the aid of men and material resources,
they are actually turning some of their
vision into fact.

i

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