THE MICHMIAN EiAlL1Y onttary Fight Termed Slight In Sigmieance iesiderntial Devaluation Power Chiefly Useful As Bluster Weapon (Continued from rage 1) international affairs depends upon ese price level movements and also on the effectiveness of gold as an ernational monetary standard, Mr. lmer said. The United States, he :, might be considered on a gold ,ndard, but some of the other con- es are on "managed" currency' ndards. When two countries are h on the gold standard, the gold ue of the two currencies deter- res the rate of exchange of the currency for the other. If one ntry devalues while its price levoi lains about the same, it becomes der for the persons in the other ntry to buy the products of the aluing country. This is the case devaluation to obtain trade bene- Under "managed" currencies,a vever, these automatic effects arei gely obliterated. A further reason y devaluation has proven a rather fffective means of stimulatingy de is because other countries have1 ;osed quotas and tariffs against countries deemed guilty of trying stimulate exports through devalu-, >n. k strong argument against the re- tion of devaluation powers by the sident, on the other hand, is that business confidences, Mr: Palmer ted. While little arivantage is eseen by the extension of the pow- , they remain as, a potential cause monetary uncertainty, discourag- investment which is so strongly ired to stimulate full recovery. Although1 not very active because the strong monetary position ofr e ,Inited States, Mr. Palmer be-' ves the Stabilization Fund, Nwhich s also renewed by the bill, is of finite advantage in regulatin the change value of the dollar and in eventing undue speculation in the reign exchange market. It has en attacked largely because of the :recy with which it has been op- ated, but Mr. Palmer said that ch secredy was necessary to pre- at speculators from anticipating tion on the part of the uuthorities charge of the Fund. The silver purchases by the Treas- y are mainly intended as subsidies silver producers, Mr. Palmer de- %red, and have had little effect on s been replacing other types of e currency because the Treasury ney with the silver instead of let- Zg the currency as a whole expand. MICHIGAN MERRY-GO-ROtUND ..by CUipe .g Dr. Margaret Bell, B.S., M.D.,, F.A.C.P., Director of Women's Phy- sical Education and Women's Med-' ical adviser . . . born in Chicago, attended John Dewey Labora- tory School, University of Chicago, High School, University of Chicago, Sargent School of Physical Educa- tion, Trudeau School of Tuberculosis, Harvard Medical School . . . gradu- ated from Rush Medical School . . did graduate work in medicine in Vienna, Chicago, Ann Arbor . . . has traveled abroad several timesr-Scan- dinavian countries, Italy, all over the United States, Canada . . . favorite WLeddings Nand . &Lgagements Miss Doris Julia Staebler, daugh- ter of Mr. and Mrs. Emanuel G. Staebler of W. William Street and El- mer Frederick Mahlke, son of Mr. and Mrs. Oscar L. Mahlke of Mont- gomery Avenue, exchanged their marriage vows in the Bethlehem Evangelical Lutheran Church in Ann Arbor on Saturday, July 1. Mrs. Mahlke received her degree of bachelor of science in education in 19.7. Mr. 1Vtahlke has both bachelor and master of science degrees in me- chanical engineering received in 1933 and 1935. * * * The marriage of Miss Helen Jeper- son of Petoskey, Mich., to Theodore F. Miller of Toledo, Ohio, took place in the chapel of The Michigan League on Friday, June 3. The couple, both University gradu- ates, will live in Toledo, Mrs. Miller graduated in 1938 and was president of Assembly, an organization of wo- men not affiliated with sororities. The groom received his degree in 1937 and is a member of Alpha Sigma Phi fraternity. Michigan Dames To Give Bridge party Wednesday The Michigan Dames are sponsor- ing a bridge partyat 2 p.m. Wednes- day in the Grand Rapids Rosm of the League. Mrs. Paul W. Klingman is chair- man of the entertainment, and is be- ing assisted by Mrs. Roy E. Frazier. Both contract and auction bridge will be played, and tea will be served' afterwards in the ballroom. A Want Ad Will Sell It! color: green . . . favorite flower: red' chrysanthemum . . . favorite sports: fishing, golfing, badminton, camp- ing, riding, skating . . . favorite book: probably Tolstoy's "Anna Kar- enina" . . . favorite actress: Kath- erine Cornell . . . favorite actor: Leslie Howard . . . favorite music: Tschaikowsky . . . enjoys sports, music, reading most. . . her vocation an avocation . . was student under New Athletic Classes Open Four Courses For Women Will Be Started Monday New four-week classes are being started Monday in women's physical education at Barbour Gymnasium. Archery will meet on Tuesdays and Thursdays at 4 p.m.; beginning swimming, Mondays and Wednes- days at 3 and 7:30 p.m.; golf, Mon- days and Wednesdays at 3 p.m.; tennis, Mondays and Wednesdays at 4 p.m. Tournaments will start next week as soon as all entry blanks are in. Saturday is the last day for entry in tournaments. Blanks may be mailed in or deposited at Barbour Gymnasium. Equipment for the following sports may be rented at Barbour Gymna- }um at 25 cents for the season: ten- nis, badminton, archery, golf and swimming. Recreational swimming for all women is held at the Union pool at 8:30 on Tuesdays and Thursdays. Only a doctor's permit is necessary for participation. Intermediate swim- ming classes are held at the Union pool at 7:30 p.m. on Tuesdays and Thursdays. Many Steps Taught At Dancing Class Second in a series of beginning dancing lessons was held at 7:30 p.m. yesterday in the ballroom of the League, instead of Tuesday, the us- ual time. . The basic steps of the waltz, fox- trot, and tango are being taught by Miss Ethel McCormick, social direc- tor of the League. Following the lessons each Tuesday evening the members of the class are free to use the ballroom for informal dancing if. they bring their own victrolas and records, says Miss McCormick. DAILY OFFICIAL BULLETIN Publication in the Bulletin is constructive notice to all members of' the University. Copy received at the office of the Summer Session until 3:30 p.m.; 11:00 am. Saturday the famous John Dewey . . . has been on medical and physical educa- tion faculty of University of Chica- go . .. is greatly interested in Ameri- can Youth Hostels and acts on the advisory board . . is president of the American Association for Health and Physical Education . . . has written many articles on, medicine and physical education for publica- tion, in journals and bulletins . . . serves on the Public Health Com- mittee of Washtenaw County. New Tresses Place Accent I (Continued from Page 2) are various water-front facilities for a small charge. -For those who do not wish to swim, there will be fa- cilities for baseball, and an oppor- tunity for hiking. The group will meet at the northwest entrance of the Rackham Building at 2:30 p.m. All graduate students and faculty members are cordially invited. The charge for food and transportation will be 35 cents. There will be a meeting regardless of the weather. Professor and Mrs. Winter will give a reception for the graduate students of the Departments of Latin and Greek, and for the members of the Institute for Teachers of Latin, Won- day, July 10, at 8 p.m. in the Michi- gan League. Faculty Concert. Professors Was- sily Besekirsky, violinist, and Joseph Brinkman,' pianist, will provide an interesting program of piano and violin music, complimentary to the general public, Tuesday evening, July -11, at 8:30 o'clock in Hill Audi- torium, in the first concert of the Summer Faculty Series. Excursion: Royal Ontario Museum of Archaeology, Toronto, Canada, to study important Chinese archaeolo- gical collections. Party will leave Ann Arbor Friday, July 14; return Sunday, July 16, or Monday, July 17, (optional). Expenses: round trip bus fare approximately $8 plus meals and lodging (tourist rates). Those interested apply to Mr. Plumer, 401& Museums Building 10-12 a.m. Thurs- day, Friday, Saturday, or phone Mr. Plumer's residence 3 to 5 p.m. on the same days. All registrations must be in by Saturday, July 8. Students, College of Literature, Sci- ence and the Arts: No course may be elected for credit after the end of the second week. Saturday, July 8, is therefore the last date on which new elections may be approved. The willingness of an individual instruc- tor to admit a student later will not affect the operation of this rule. E. A. Walter Students, College of Literature, Science and the Arts: Students whose records carry re- ports of I or X either from last semes- ter or (if they have not been in residence since that time) from any former session, will receive grades of E unless the work is completed by July 26th. Petitions for extensions of time, with the written approval of the in- structors concerned, should be ad-' dressed to tthe Administrative Board of the College, and presented in Room 4, University Hall, before July 26th. E. A. Walter. School of Education, Changes' of Elections (Undergraduates). No course may be elected for credit af- ter Saturday, July 8; no course may be dropped without penalty after Saturday, Jply 22. Any changes of elections of students enrolled in this school must be reported as the Regis- trar's office, Room 4, University Hall. Membership in class does not cease nor begin until all changes have been thus officially registered. Arrange- ments made with instructors are not official changes. Teacher's Certificate Candidates who expect to be recommended by the Faculty of the School of Educa- tion at the close of the Summer Ses- sion are requested to call immediate- ly at the office of the Recorder of the School of Education, 1437 U.E.S., to fill out application blanks for the Certificate. (This notice does not include School of Music students). Public Health Nursing Certificate: Students expecting to receive the Certificate in Public Health Nurs- ing at the close of the Summer Ses- sion must make application at the office of the School of Education, 1437 U.E.S. Householders: The Latin depart- ment is holding an institute for teachers of Latin, July 10-15. Will anyone who will have rooms to let for that period please communicate with me at my office, 2026 Angell Hall, (telephone Univ. Ext. 333) be- tween the hours of 10 to 12 a.m. and 2 to 4 p.m.) F. O. Copley. Mail for Stu4ents, Faculty and temporary residents at the Univer- sity: All students and ne members of the faculty should call %, the U.S. Post Office and make out a pink card, "Order to Change Address," Form 22, if they have not already done so. This applies also to tempor- ary residents in Ann Arbor who may be doing reference or research work on the Campus. Unidentifiable mail is held in Room 1, University Hall. If you are expecting mail which you have not received, please call at Room 1 Uni- versity Hall, and make inquiry. Mail is being held in the Summer Session office, 12f3 Angell Hall for the following: Mr. Burgess Vine On Femininity If you are tired of being typed as a sophisticate or an out-door girl and want to make a radical about face towards femininity, we have just the thing that will do the trick.. We were browsing through one of the local shops today and cane across one of those very latest dress models which .accent the popular trend of little girl appeal. Slip into a sheer blue and white figured batiste with a fitted waist line and flared skirt, topped off with a white pique bolero and you'll be the belle of the Wednesday tea dances. For something coquettish in the line of sports, which after all can't be overlooked on these warm July afternoons, we suggest one of the new checked gingham dressmaker bathing suits. They come in all of the light pastel shades and the edge of the skirt is trimmed with a ruffle of the same material. Not only are they neat looking, but also practical as they are lined with jersey rayon and dry quickly after you leave the water. One of the most original costumes of the season is a rose polka-dotted badminton dress. It is the answer to the shapely girl's prayer as it is fitted with a zipper down the front and the skirt hangs several iniches above the knees. Matching bloomers make the short skirt practical for active sports wear. For evening wear, or dressy after- noon occasions, black sheers, whose, popularity have outlived many sea- sons, are still much in evidence. How- ever, this summer Irish lace ruching on the sleeves and neckline provides an original touch. Social Evening At I To Feature Earl ' All Campus Women's Tournament Women's Physical Education Department Check in the squares below those activities you wish to enter. [ Archery Tournament (l Badminton Novice Tournament ] Badminton Advanced Tournament f Golf Pitch and Putt Competition, Friday, July 7-3:00-4:00 p.m. [1 Golf Women's Summer School Golf Team-try-outs [ Golf Women's Open Singles ~ Tennis Women's Singles F] Tennis Mixed Doubles (Partner's name ........................) Mail or bring entries to Barbour Gymnasium not later than Saturday, July 8th. Tournaments will be posted in the Women's Athletic Building (Badminton in Barbour Gymnasium) by Tuesday, July 11th. Name.'.....' ..'' . ..........''................'' ' Telephone Number ................ MARILYN SHOP The first regular Friday night social evening will be held from'9 p.m. to 1 a.m. today -in the League Ballropm. Earl Stevens and his 10- piece orchestra will furnish the music. A dance contest will feature the social evening- tomorrow night in the League ballroom. Prizes will be awarded to the smoothest dancers and to the hottest jitterbugs. Judging will take place at 10:45 p.m. Harriet Thom is chairman of the dance. Try A DAILY Classified Good Food and Free Parking at The HAUNTED TAVERN 417 E. Huron St. Phone 7781 U 11 COLLINS Liberty at Maynard O( urune-zmm SALE ELLEN KfYE EXCLUSIVES III THE AN IMPORTANT SALE 11 0or FACULTY -STUDENT I 11 1 FORMALS and DINNER DRESSES HE SUMMER FAMOUS JUNIOR FASHIONS, Specially priced! $7/.95 $10.95 1 There.are 40 DRESSES in this group, from size 10 to Size 20--. DIRECTORYS -11 Dark Sheers.. .. Pastel Crepes Prints ... . Ginghams .... Chambray There are chiffons, nets, crepes, etc. Novelty Cottons (Many suitable for year-round wear.) There are lovely, soft pastels, navies and blacks. They sold formerly for nearly twice as much as they are priced now. 35C 11 III Prices far less than usual on these distinctive fashions, so particularly flattering to slim, young junior figures -- Summer dresses for sports and spectator wear, for town, for "dress-up" occasions; and they all have the clever tricks of individual detail for which ELLEN KAYE is famous. Sizes 9'to 17. I I 1 41 Your Unrestricted Choice On Sale Today at Wahr's, Follett's, Slater's, Ultich's, Union, Wolverine, and Student Publications Building, MILLINERY BLACK and NAVY HATS $1A, second floor. $1.00 11 II U 11