AMERICAN AFFAIRS.

Otago Witness, Issue 3996, 14 October 1930, Page 29

AMERICAN AFFAIRS.

LEGION CONVENTION. ADDRESS BY THE PRESIDENT. WASHINGTON, October 6. At Boston, President Hoover, addressing the American Legion Convention, stated:— “ Even to-day half the population of our globe is in a state of great unrest, or revolution. Real peace requires more than documents. We sign them in the hope of terminating wars, but peace requires unremitting and courageous campaigns, laid with strategy, and carried on with success on a hundred fronts, sustained from the heart of every individual of every town or village of the country. “In the great intangibles of human emotion respect is inseparable from good will. The maintenance of respect requires that we shall sustain preparedness for defence. That is impregnable, yet it contains no threat of aggression. From, the post-war happenings in America some leaders in other countries came to believe that we were in the presence of the birth of a new imperial power, intent on dominating other people. This is an utter misconception of America. We know there is a desire to do justice, not to commit exploitation,. and we know there is no financial, traditional, or military imperialism in America. Peace requires that no one of us shall entertain ill will towards others, or give them cause for the most dangerous of all emotions—fear.” “UMPIRE OF FAIRNESS.” ADDRESS BY THE PRESIDENT. WASHINGTON, October 7. At King’s Mountain (North Carolina) President Hoover, in delivering an address on the occasion of the 150th anniversary of the Battle of King’s Mountain, said:—

“ I have lived among many peoples and observed many Governments, and from my experience of many lands I have sometimes compared the different governmental systems with the American system. Through our free and universal education we train runners for the race of life, and strive to give them an equal start. Our Government is the umpire of fairness. The winner is he who shows the most conscientious training. It is significant that some of the systems in the world deny religion, and seek to expel it. I cannot conceive of a wholesome social order or a sound economic system that does not have its roots in religibus faith. It would be foolish for me to stand here and say our political and social system works perfectly. It not. The human race is not perfect yet.” Continuing, Mr Hoover said: “ While we cannot permit any foreign person or agency to undermine our institutions, yet we must look to our own conduct that we do not weaken our own institutions by our own failure to uphold and safeguard America. The world about us is tormented with spiritual and economic struggles that attend changing ideals. Systems and old faiths are being shaken, but we must follow our own destiny. Our institutions are a growth. We can follow them with confidence. Our problems are the problems of growth, not of decay.”

PRESIDENT UNVEILS MEMORIAL. NEW YORK, October 7.

A message from King’s Mountain battleground (South Carolina) states that symbolising the bonds of friendship and peace between the citizens of the United States and Britain, a memorial was dedicated here to-day to Colonel Patrick Ferguson, the British commander who was slain in the revolutionary battle. On October 7, 1780, Colonel Ferguson fell defending King’s Mountain, South Carolina, with 800 British Militia against 1300 Americans. This affair, which has been deserbed as resembling that of Majuba Hill, turned the tide of southern warfare. Colonel Ferguson was the inventor of the breech-loading rifle, which fired seven shots a minute. NAVY REORGANISATION. SUBMARINES TO BE SCRAPPED. WASHINGTON, October 9. Commencing the drastic naval reorganisation programme, Mr C. F. Adams (Secretary to the Navy) has issued orders decommissioning or converting to training use 46 ships, reducing the enlisted personnel by 4800 men, and asking for reorganisation of the Air Force and consolidation of the Mine Force into one group, with a base on Pearl Harbour. Fourteen submarines have been ordered to be scrapped, while 11 submarines, 16 destroyers, and two mine layers have been ordered to be decommissioned and preserved idle without crews. Considerable curtailment of the naval shore activities is also contemplated. * PROHIBITION DIFFICULTIES. VIOLATION OF LAW INCREASING. WASHINGTON, October 9. The Department of Justice announced that during the fiscal year ended June,

206 more prohibition cases were instituted in the Federal Courts than in the previous year, and a total of 27,709 prison sentences were imposed, representing an increase of 5107 over the figures of 1920. This year 52,347 cases were terminated, with 73 per cent, of convictions. The report states: “ One of the features of the prohibition enforcement record is the number of State and municipal officers who are charged with participation in the violation of the Federal prohibition law. In addition to a number of indictments pending against such officers at the close of the fiscal year, there were 74 cases involving conspiracy to violate the liquor laws.”

WALL STREET MARKET.

NEW YORK, October 9.

The failure on both the Stock and Curb Exchanges of Prince and Whitley, one of the leading exchange houses, who suspended for insolvency, caused a sharp drop in the market, cutting billions of dollars from paper profits. Stocks fell from 1 to 10 points, with many new low levels reached. The market was weak until noon, when the firm’s suspension destroyed the remaining resistance. All the most important exchanges throughout the United States suffered under the downward leadership of United States Steel, which dropped to 146. Bonds fell likewise. Chicago Board of Trade prices made slight recoveries towards the close and saved issues from complete rout. New York call money rate of renewal was 2 per cent, all day.