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...there is a growing Fascist party and a corresponding decline in the Socialist power, which has until now exercised a moderate and restraining influence coupled with a really international outlook. If the Nazis come to the top, as they seem likely to do, an obvious move would be to link up with other Fascist states. France, of course, would never tolerate any such act, as she conclusively showed in 1931. War would be a very natural result...
...stubborn, elderly Premier James Barry Munnik Hertzog of the Union of South Africa has battled mightily to keep his dominion on the gold standard. All other dominions and the Mother Country are off. Ever since sterling slipped, English economists have been favoring South Africa with advice and appeals to "link your pound with sterling." Because Premier Hertzog is Dutch-blooded, Englishmen started a limerick in London which has spread to Capetown...
...done and what its action means. "The only way to prevent a financial disaster of the first magnitude," said Minister Havenga. "was to release the Reserve Bank from liability to redeem its notes in gold. . . . The Government did so release the Reserve Bank and thereby it cut the link by which South African currency was a currency on the gold standard...
Cutting this link caused the South-African pound to slip from $4.71 to $3.63 on international exchange last week. In Washington, His Excellency Eric H. Louw, South African Minister Plenipotentiary, hastened to comment, "The situation in South Africa is most paradoxical, the result of an acute political situation. . . . There is some hope that South Africa will soon return to the gold standard. . . . Much will depend upon whether the Government is able to command a majority when Parliament meets." First test of strength was expected to come Jan. 14 at a caucus of the Transvaal Nationalist Party. If Judge Roos captures...
Though the breakoff stalemated the debts, President Hoover and Governor Roosevelt still had a link between them in the person of Democrat Norman Hezekiah Davis. U. S. arms delegate and Hoover Man-about-Europe. Arriving in Manhattan on the Manhattan last week Delegate Davis announced: "There's no doubt that the world is in a terrible fix. The nations seem to realize that if they don't want to perish separately they must get together." Speeding to Washington Mr. Davis spent 90 minutes reporting to President Hoover. Said he: "It's a great thing to get, Germany...