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have held the faith: that we shall do future is solemn It has been the of party The party support administration every measure which public must and opposing those are My speak upon issues which there should be no Purther steps covery before the Ceaseless effort must fear and and the lease of the recuperative spirit of the world. It my purpose to discuss which reaching ther roots this tragic the field of foreign many the field engage the of financial activities price levels and credit be affected by foreign MUST FACE OBLIGATION During the two the crash one after another under tances has whole nomic has when in self no less than in the in 80 again Daily it that the step in remedy the illimitable human suffering from lies field where the surely and quickly turned and the tragic despair business transformed hope Economic degeneration is always series of vicious cycles and Whatever and deal addition the other the depression debt and obligathe or for Many created or added to their due programs finally the where colin Foreigners in fear deposits in countries. Citizens exported their movement of from followed the underof confidence in its currency credit system. Runs on banks upon stop the against the spending for foreign goods and effort establish exchange and retention of their gold reserves Failure in efforts resulted in abandonment of the gold standard. VICIOUS CIRCLE Currency in of world goods, crease in their and further in world again and again affecting all the hope cheaply than their and thus to retheir by of the markets of other Those nations in turn have sought protect bartoday as the result erecting such financial are the presence of an of the with the barriers to trade by quotas, trade campaigns to goods and score each which can justified moment, but each adds to world and Out the storm center of Europe has spread we survey the at the present find countries which tions or are otherwise definitely the gold Ever began in Europe States has held staunchly to the the present setting of and differ in costs tariffs below have held free quotas discriminations among nations. We thereby of the world and to the moveourselves now confronted with of goods from the lowered and standards of depreciated rencies, which increase and will ourselves forced defense protect unless stopped We must not be the major victim of FALLING PRICES In all this competition of degenerbeginnings economic between scores nations, see shrinkage demand throughout the prices terms gold. falling the of to meet their obligations their creditors, the people from farms and homes and If the world is to secure economic the tide restore the the the must start somewhere break these fiscal circles. am that the first attack is to the the naIt may that by theoretically of may be found years time They are subject human fallibilities. Sooner later political pressure special groups direct use in any take to men currency would certainly year be worth what for noticeable that most of the nations off the gold standard are today increase their the of many economists and the which have been placed gold exchange created effect as there the world. That while there the last few been large increase quantity visible gold in the and the effect of all these regulatory by to protect their gold reserves flights of capiand divide the gold into two score pockets many of them freeze freedom view holds that we shortage we are dealing being party its EFFECT OF FEAR To add confusion. another gold increased wrought That the effect waves of and We have parallel nations an unreabank The directed in turn to the stability of first one naand then another have caused withdrawal foreign balances from followed by of exchange its own seeking refuge and security for their property These movements are followed by large of gold the the and leading to an unnatural piling gold some nation temporarily considered these movements, have forced standard that could otherwise have main position year ago suffered the effects the gold dashing hither yon nation like of the In meantime the currencies of the are spasmodically off the gold are in reality suffering from their currencies by reason the that men are unable make for the future itself again up enterprise, goods, and further causes Other hold their are attempting compete in Broadly solution in the confidence cannot by the gold as standard in the far the human established and can be and found ly through important naMUST BE FIXED Nor It necessary from an interpoint of that those who have forced the be again gold will suffice From this source are principal hopes for restoring confidence and versing the growing barriers the goods, possible the in trade such goods. do this it necessary strong action on the part of leading nasome of International financial action necessary to enable central banks cooperate for the purpose of nano hesitation in joining an operation If the debt payments to us be temhesitate do At the same time the find place silver, at least enlarged subsidiary A reasonable period of the currencies would cost of such effort hundred times over in the of the of lessening of the difficulties the land, with avoidance of world would quick ly see movement goods have an immediate rise everywhere thereby bringing immediate relief to the whole system the difficulties the the stability and economic peace. Bold action alone can succeed. alternative action too grave in passive AT FORKS OF ROAD American people will soon be fork of these roads. The first the highway of cooperation among nations, to remove the structions and rising This road leads real to expanding standard living, to the march of progress by rely upon our high degree to create quotas and and engage in definite methods production of cultural and thus to secure large measure economic isolation from world influences would long of and uncertain fields But may necessary the first way out is closed to Some measures may be conother nations The third road that inflate abandon the gold standard. and our deworld with the certainty destruction. at home and The first undertaken by the among all important nations. question naturally arises whether other nations cooperate to restore confidence, stability In this trust the will be misled influenced by the stream foreign propaganda that cancelladebts give this and That not debts are but of the Their world importance is being In this respect stated some
BERRY RAISERS SEEK RATE CUT
Maryville Hears New Plans For Closed Bank.
Feb. Maryville Strawberry Growers' association, through its sales manager, Leslie R. Huffstetler, launched fight reduction insfreight rates the shipment of straw. berries out of Blount county this year. petition has been filed. asking the railroads for temporary rate per cent. lower than the present charge. The petition states, "With the buying power of the country so depleted and markets demoralized, the railroads must make some concessions in helping to meet the situation.'
A new highway for the transportation products of the Dixie Mining Developing Co. is from the main Deals Gap highway at Chilhowee to the of the company, three miles away.
Joe B. Montgomery left tonight for attend the national convention the State Farm Mutual Automobile Insurance Co.
One of the three proposals that made meeting of the depositors the defunct First National bank Thursday will be request that comptroller of the currency turn over the assets the bank to local for It is claimed that liquidate less expense than and in much time. It also be proposed that state bank be organized, cupying the building the First National and, possible, taking over the deposits of the defunct bank Another proposal, it is understood, would let depositors take over bank building in payment for per cent. of their deposits. months the American people can well raise these payers, witness the fact that in most the payments amount to less of the military each we can well realize that some instances the transfer of these may gravedisturb their currency or international MUST HAVE COMPENSATION But we are asked injury should have that will positively result in monetary stability and the restoration of world for rifices incapacity our of their agricultural and other imports. The world should relief from they to meet us be driven our forces and and harmful to the world and little satisfactory to us as this But the of deamong nations mutual It the of the world to join which the benefits the the world are great cooperate the Any other world today endangers Despite many the shown an increasing establishment of agencies in the troversies might led to war When we the attitude nations each other which existed 20 that tothat there has developed spirit and the method of tion which gives profound hope the future. In its broad light, the problem before world to work gether to prevent the dangers of veloping economic secure peace. That field in which can more than the field vention of because involved no background problems that fields the imponderables the DRIVING FORCE TODAY There driving force before the every the misery and suffering which infected Throughout the world the people are distraught unemthe decline has plunged farmers homes of savings for old just as an amongst engage possible step for of there before us today necessity for world to prewarfare On our side this problem not to be by partisan action national our differences may be on domestic policies, the welfare American people upon before world merely in resisting would weaken United States the world but solidarity cooperation other nations strengthening the whole fabric of the world The world to and hope by the natural forces of which are inherent in this Civilization the history of surmounted diffithis world today of the same strain who builded this civilization. They passed through most They met great They state human being such the world has never sen. The forward that the welfare through the immense objectives of world recovery and world peace
McHORIS Cubert McHorris, who was critically injured when the car he was driving crashed with one driven by Coach Fred Noe, CarsonNewman was reported "on the road to recovery at local hospital today It was thought for time he had been fatally injured. McHorris athletic director for Rogersville High school.
