THE MICHIGAN DAILY MONDAY, JTUNE 24,19 IE MICHIGAN DAILY ial Publication of the Summer Session k'l N Zz 7 1 Publiued every morning except Monday during the UniLersity year and Summer Session by the Board in Otro of Student Publications. ember of the Western Conference Editorial Association a*,d the Big Ten News Service. MEMBER so dated (llegitet cres5 1934 .iel~liOW 193S- ADson scaHSN MEMBER OF THE ASSOCIATED PRESS The Associated Press is exclusively entitled to the use Or republication of all news dispatches credited to it or not otherwise credited in this paper and the local news pblihed herein. All rights of republication of special 4~patches are reserved. Entered at the Post Office at Ann Arbor, Michigan, as aecond 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 mail, $50. offices Stude Publications Building, Maynard Street, Ann Arbor, Michigan. Phone: 2-1214. ;Representatives: National Advertising Service, Inc. 11 Bet 42nd Street, New York. .Y. - 400 N. Michigan Ave., Ohicago Ill.: EDITORIAL STAFF Telephone 4925 NAGING EDITORh.................JOHN C. HEALEY ASSISTANT MANAGING EDITOR ..ROBERT S. RUWITCH ASsOCIATE EDITORS: Thomas E. Groehn, Thomas H. Kleene, William Reed, Guy M. Whipple, Jr. ASISTANT EDITORS: Eric W. Hall, Joseph Mattes, Elsie Pierce, Charlotte Rueger. BUSINESS STAFF Telephone 2-1214 BUSINESS MANAGER.................RUSSELL READ " ASSISTANT BUS. MGR...........BERNARD ItOSENTHAL irculation Manager.... ..... ......... Clinton B. Conger Forty-Second Session.. F OR THE FORTY-SECOND year the University Summer Session again Opens its doors to provide educational facilities for several thousand students from every state in the' Union and several foreign countries. Here students attending .the University for the first time will be offered the opportunity for a summer of both educational advancement and thorough enjoyment. Those who have been in at- tendance before need no calling of this to mind. 'From the most humble of beginnings 42 years ago, when the total enrollment numbered 91 stu- dents and less than 50 courses were offered, the Summer Session now rivals its great prototype, the University of the regular academic year. Last summer more than 600 courses were available to x,272 students. A maximum of-advantages will again be offered this summer. The faculty num- ,bers more than 400 and includes many prominent isiting professors, while more than a dozen col- leges will be open for pursuit of study. In addition, a varied and extensive program of educational di- version and entertainment has been arranged by administrative officials. This includes a series of 22 lectures by distinguished authorities in their respective fields; a group of nine plays presented throughout the Session by the Michigan Repertory Players; musical recitals and band concerts; ex- 'cursions to nearby places of interest; weekly dances for all students at the Michigan League; gnd vast facilities for athletic recreation. Surely such, a program offers to all a summer conducive both to successful study and enjoyable vacationing. The Daily takes this opportunity to welcome the students of the Summer Session to Ann Arbor and to the University and urges them to take full advantage of the manifold advantages which are their's. A Program Of Distinction .. . T HE IRST LECTURE on the Sum- T1 mer Session seres will be given to- morrow by Prof. James K. Pollock of the political science department, who will speak on "Govern- m*ent for Spoils Only." Professor Pollock, an excellent lecturer who knows of what he speaks, is an ideal person to lpen what appears to be an even finer series of lectures than was held at the last Summer Session. One person remarked not long ago that the Bummer Session lecture series was almost an ed- ication in itself. A brief glance at the schedule of speakers and their subjects would seem to prove that point. In previous years these lectures have always been well attended) The type of persons enrolling for the Summer Session are doubtless less the undergraduate and more the scholar than those who attend this University during the regular term, The lecture series during the regular school term was so poorly attended last year that it is not too improbable that the University may be forced to discontinue it entirely. Unfortunately the majority of the undergradu- ate body would never miss them, but there are a few who would undoubtedly feel the loss keenly. Regardless the Summer Session lecture series maintains its popularity. At no time last Summer did a sparsely attended Natural Science Audi- torium greet a speaker. It is to be hoped that a program of such promise as is being offered dur- ing the next seven weeks will not go unheeded. Others See Jungle Law In The Orient. -- "If-as seems not improbable-Japan acquires power to drill the Chinese and direct their ec- onomic activities, the age of Genghis Khan may recur." China is helpless. Despite her teeming millions of population, China cannot fight Japan. Her only real weapon is the negative one of passive resis- tance, and that is one whose effectiveness is felt only in the passage of time. All of the great Pow- ers have stakes in China, but none of them cares to risk the war that would almost inevitably follow if Japan were seriously challenged. Besides, whose hands are clean enough to plead for China in the court of equity? Certainly not Great Britain, which furnished the Japanese some of their most valuable lessons in imperialism. Not Italy, a nation now embarked on an enterprise in Africa seemingly even less defensible than Japan's invasion of China. Not the United States, whose interference in the domestic affairs, of Nicaragua and other Caribbean nations is cited by the Jap- anese in justification of their actions. But even if the Powers' own escutcheons bore no blots, they could not justify risking a great war to preserve China against Japanese incursions. Noth- ing can save China except China herself. It is her battle. If she cannot fight it now, she must tem- porarily succumb. There is no court in which she can receive justice as the world is organized now. Despite the horrors of the last great conflict, the only law in international relations is the law of the jungle, the law of tooth and claw. Such is the tragic reality of the situation. -St. Louis Post Dispatch. The Situation In Small Colleges. . WHEN INDIVIDUALS appeal to the nation for increased support of the 600-odd small liberal colleges in the country, characterizing them as the seed beds of leadership and "among the principal sources of high character and noble ideals with- out which any purely economic system would col- lapse," they voice an opinion in which leading im- partial educators strongly concur. The small liberal arts colleges have usually had to travel a road of thorns and obstacles. Their enaowments at best have been meager. They possess only one-fourth of the capital funds behind all higher educational institutions, large and small, in the United States, and they include in their cloisters one-half of the students. While large universities have been spending huge sums in extravagantly beautifying and enlarging their physical aspects, the small colleges have carried on with scant funds that do not even suffice to pay their faculties fair salaries. The present period of economic depression has further multiplied the difficulties which in general beset these smaller institutions. Distinctly American in nature, the small liberal arts college truly plays a most important role in the American educational system. Amid the growth of state-supported institutions and highly-endowed universities, the smaller college has held on as one of the strongholds of a truly cultural educa- tion. The broad opportunities which it offers for intimacy and for increased student-faculty fellow- ship have demonstrated the value of the small- unit education. The recent inclusion within sev- eral large institutions of a number of small divi- sions, such as the colleges in the quad plan, is a recognition of the advantages of the small college over the large educational plants. Yet the great bulk of these smaller institutions, along with the equally-neglected womens colleges, are forced to struggle along, leading a hand-to-mouth existence, while a few major institutions grow relatively opu- lent. Regret is naturally occasioned by the fact that America's larger institutions cannot secure all the financial backing they could use to increase the Four stars ---mustn't miss; three stars -- very good; two stars-an average picture; one star -poor; no star - don't go. * **AT THE MICHIGAN DOUBTING THOMAS A Paramount Picture starring Will Rogers with Alison Skipworth, Billie Burke. Sterling Hollway, and Gail Patrick. Also a fair musical short in color, a better- than-usual Chic Sale short, a color cartoon, newsreel, and Paul Tompkins. When his wife, together with most of the town's populace, gets mixed up in some "play-acting bus- iness" one of the best and funniest of Will Rogers' pictures results. No sooner than Thomas Brown has left for the sausage-makers' convention than Madame Pom- pinello (Alison Skipworth) lures his wife (Billie Burke) into an amateur theatrical. Returning he finds it not only too late to avoid witnessing her performance in the real-life drama of loves and hates, but is hard-pressed to prevent her leaving for New York to express her "suppressed" dramatic emotions in the metropolis. To Will Rogers' supporting cast should go a large part of the credit for the laughs in "Doubting Thomas." Alison Skipworth as the leader of this little theater movement, Billie Burke (in her best performance yet), and Sterling Hollway, scout- master of the town's Eagle Troop who is pressed into service as giver-of-the-cues are excellent. Best shot: Will Rogers' reaction when he walks in on Mrs. Brown, just as she is giving the scornful laugh of the villainess. The best program Paul Tompkins has given yet, features the supporting attractions. -R.A.C. SCREEN **PLUS AT THE MAJESTIC GOIN' TO TOWN i A Paramount picture starring Mae West. Also a Merrie Melodie, two musical shorts, and a Hearst newsreel. This is for Mae West fans. Wiggling her hips, singing through her nose, and offering pertinent bits of biological information to the males allured by her robust womanhood, she rises from entertainer in a Western saloon to a position in the British nobility, after steamrolling her way through a portion of our best society. When she falls heir to the millions of her rustler- fiance she also falls for a British petroleum engi- neer developing her properties. In pursuit of him she wins an international Derby with her horse Cactus (good shots here), marries into the blue- bloods, sings Delilah in Samson and Delilah, and leaves a dead husband behind. Everything comes out all right in the end. As usual, the Westian wisecracks brings the most laughs. (Example: "Why should you stay single, anyway?" "Why shouldn't I? I was born that way.") "Goin' To Town" is neither the worst nor the best of Mae West's pictures. The color cartoon is good, but the two musical shorts are dull. In the newsreel we see a man shot in the stomach with a cannonball not once but three times, and apparently willing to come back for more. --R.A.C. F- CF H ST New Books If You Prefer SUPPLIES' salaries of faculty members or to erect luxurious Gothic and Gregorian buildings. But the plight of America's scores of worthy, but financially starv- ing colleges, particularly prevalent in the South and in certain portions of the West, brings to the surface one of the most pressing needs of modern American higher education. -The Daily Princetonian. What To Do If Inflation Comes By JOHN T. FLYNN This article, which appeared in Harper's Magazine, is, hereby printed in part. THINK it important to venture the opinion that inflation, if it comes to us, will not assume any such horrendous proportions as were found in Germany. The conditions of the two countries are wholly different. Germany was a defeated nation her industries exhausted, the spirit of her people prostrate. Inflation had already made an astound- ing advance during the war, but the economy con- tinued to be controlled because the war psychology could impose its will. Once the government was broken and the war effort became a horrifying failure, the inflation began to break its bounds. There was imposed an appalling debt for repara- tions. The country's credit was gone. Her bank resources were paralyzed.1 This is not our case. Our resources are im- mense. We have suffered no such catastrophe. Our gold reserve is enormous. If inflation comes, it will have its brief course and will be checked. How far it might go is difficult to say. But it will not in any sense be grotesque. Therefore, the hope of piling up great fortunes by speculating in land values and equities is greatly reduced. It can- not come for another year, and after that, it will be some time before its effect is serious. * * * * The hopes held out for those who have savings are illusory. Investment in bonds and mortgages if inflation comes will, of course, be disastrous. Investment in common stocks is recommended highly. But which common stocks? Can you an- swer? Can anyone answer. Stocks of those corporations with large bonded indebtedness would be the ideal ones, because in- flation is supposed to wipe out or reduce bonded indebtedness. But corporations with large bonded indebtedness are for the most part in trouble. And they may crack before inflation can wipe out the bonds. Moreover, inflation can so upset the' economy of a nation that corporations may be ruined and equities wiped out. How about buying commodities? What com- modities? If production in the heavy industries is killed off by inflation, obviously you cannot afford to buy the commodities which serve as raw ma- terials for those industries. Commodities for quick Buy real estate? Land or buildings? If land, remember you will have to answer for the carry- ing charges. And they may be very high. Interest, it may be, will not rise, but taxes will, and may devastate you. And buying land for cash will do you no good if you plan to hold the land. After the inflation is over, you may actually find it worth less than when you bought it. And if you plan to buy in order to sell before the inflation ends, you may find yourself in difficulty. Because if you succeed, you will still have the problem of reinvest- ing your money. And you may not succeed, be- cause selling vacant land will be difficult when credit is stifled. Those farmers who bought land in the great war-credit inflation of 1916 to 1919 were far worse off when it was over than their brothers who remained within their own little acres. Put the money in foreign currency? What for- eign currency? It is not so long ago people were buying Belgian belgas and French francs. The belga has toppled already, and it is now plain they would have been wiser to have left their funds in American dollars. The simple truth is that what to do with your money is a problem of speculation. You can prob- ably make a great deal of money out of the infla- tion if you will speculate as it progresses. But this brings up the important question - Do you know how to speculate? The answer is No. You do not know and you will probably lose everything if you attempt it. If inflation comes, you are simply at the mercy of the elements. * * * * A far wiser course is to attempt to prevent it. If it comes, it will oppress workers, investors, the thrifty and the thriftless. The notion that it is a device for taking from the thrifty to give to the thriftless is a mistake. It takes from all. No one will suffer more than that vast population which is included in the classification "thriftless"- those who, though they- may be industrious, have not mastered the art of making and saving money. And there is only one way to prevent inflation and that is to turn now to the grim arts of taxation. I do not mean the government must cease to spend money. It dare not do that. But it must get its funds out of current revenues and provide them through heavy income taxes. That may be NOTEBOOKS TYPING PAPER PENCILS STATIONERY NOTEBOOK PAPER SCRATCH PAPER FOUNTAIN PENS ZIPPER NOTEBOOKS Everything You Need Priced to Save You Money You'll Find Fair Prices and Friendly Service SILATrER S I