Tuesday, October I3, I936 ‘31] H. M. Ross INTERNATIONAL DEVELOP— MENTS of recent years have con- tributed mainly to unrest. Adolf Hitler, by his repudiation of the' Ver- sailles treaty roused the fears of the world. Mussolini’s war against Ethi‘ opia, in spite of the opposition of the League of Nations and Great Britain, created a major crisis. The revolution in Spain has caused grow- ing tension. The flame of dictator- ship is slowly and insidiously con- suming Europe while the once glow- ing light of democracy becomes only dimly visible in the glare of these growing powers. LAST WEEK another major in‘ ternational development took place. France, with the aid of Great Bri- tain and the United States took steps to devaluate the franc. The three democracies worked together for the first time in years and quickly and quietly took a step which may lead the world to look to Washington, London, and Paris for leadership in» stead of to Berlin and Rome. The economic significance of this agree— ment is profound and widespread. London declared that it marked a turningr point in European affairs. Belgium officially entered into co- operation on the agreement while ermany and Italy were left won- dering as to how they would be af- footed. IN WASHINGTON, Secretary Morgenthau declared that he felt the agreement was a definite step toward world economic recovery. For the past month Secretary Mor- genthau and the treasury officials had been in conversation with the Brit- ish and French representatives de— vising ways and means for arriving at a competent and workable solu- tion for attaining a satisfactory stab- ]ization of currencies. Two weeks ago, when the agreement was finally completed, Secretary Morgenthau issued a statement to the press of the United States, a statement simi— lar to that issued in London and Paris, which described the part this country played in the international stabilization agreement. THE STATEMENT, as contained these points: (1) The United States joins with Great Britain and France in affirm- ing a common desire to foster condi- tions to safeguard peace and to re- store order in international economic relations. (2) The constant object of this country’s policy is to maintain the greatest possible equilibrium in in— ternational exchange. (3) The United States and Great Britain welcome the readjustment of the franc one a necessary step toward the achievement of a "lasting equilib- rium” between the various economic systems. The three governments in- tend to use their resources to avoid, as far as possible, any disturbance of the basis of international exchange. issued, (4) The thrée governments bc- licvc that success of their policy dc- pcnds upon the development of inter- national trade. They favor the relax— ation of quotas and exchange contests. (5) The three governments trust that no country will attempt to ob. tuin an unreasonable competitive cac- chanye advantage and thereby ham- per the effort to restore more stable economic relations. THUS HAS a step been taken, which, in economic circles, is be— lieved to be a step toward finally, by foresight and adjustment, doing away with economic failures and dis- asters such as that from which we are just now emerging. While pri- marily of an economic nature, the action on the part of the three great democracies leaves the political cen~ ters of the world by no means un- disturbed, The “ism dictatorships” of Europe can see beyond a coalition to combat financial destruction; they can see the possibility of a stronger and more forceful coalition to combat the destruction of the morals and principles which they have slowly built up and in which they trust and believe. . ERA. TERNETEES—u (Continual from Page One) Frank A. Smithson ’40, William M. Caldwell '40, and George A. Molitor ’40. Pi Kapps Hold Ten Continuing its rushing season pace, Pi Kappa Phi followed its Friday pledging with a Sunday afternoon tea sponsored by the Mother’s Club. The parents of the pledges, rushccs, and their friends thus had the appor- tunity of becoming acquainted with each other. The list of Pi Kappa Phi’s pledges, nine in number, fol- lows: Roy Brinkman, Jr, ’40, Julian Chaderton '39, Oliver Dickerhoof '40, John Dodge ’40, John Gerhardt '40, Clarence Laskowski ’40, Harold Pavel ’40, Joe Risney, Jr. ‘40, and Frank Slavin ’40. Rho Delt Pledges Seven Rho Delta Rho's pledge class num- bers seven. Honorary faculty mem— ber, Coach “Sonny" Weissman, did the official honors at the pledging. The list of Rho Dclts’ pledge class follows: Jerome Adelson, CE. ’38, George Freed ’40, Lou Jacobs, Arch. ’38, William I. Miller ’40, Bernard D. Norynsky ’40, Harvey Rothenbcrg, Ch.E. ’39, and Sidney S. Silvcrman ’40. Sigma Alpha Mu Pledges Two Sigma Alpha Mu pledged two men last Friday night. They are Milton V. Kahn ’40 and Allen Levenbcrg, Ch.E. ’39. Pledgings of Theta Xi and Trian: gle fraternities were not ready by press time, but reports seem to in- dicate a large and successful pledge , class. ARMOUR TECH NEWS vainly trying to regain their trousers (Cerovski even brought us a signed requisition‘for his.) In answer to the query as to whether or not a requi- sition for the return of garments is necessary:.No, and thank you for your cooperation with this special case. By this ‘plca. we wish to seek the Cooperation being in the air means that the juniors have started to make plans for another of the annual Arx Dances. Two of the men, CUN- NINGHAM and LITWIN, have made the initial overtures to the faculty about the present possibilities with the final results hinging upon Prov- fesaor Shidmorc’s approval when he returns. If everything receives the official 0. K. the of opin- ion among the connoisseurs of pulchritudc is to find a "date" who is just 50-50 in appear- ance in order that one may not have to worry about a fellow ARCH steal- ing your girl. The only hitch in that one will have to dance with her all evening by himself. feminine All the men wish to extend a greetingr to another addition to our growing faculty, The new man is Mr. Moll, a Scarab of the class of ’31. He has made an excellent repu- tation for himself as an industrial designer and proved his mettle to us on the very first day by raising merry hallelujah with the errors in our sketch problems. All is well now, we hope. So you wouldn’t believe us, would you? If seeing is believing your eyes certainly saw the undraped limbs of your classmates, MIROTSNIC and CEROVSKI as they paraded back and forth through the drafting rooms kindly ‘ J ', of JOE WAGNER, the official Icccpcr of the peace: any loud outbursts, unseemly demonstra- tions and the lilac arc nothing but our prosaic propcns ‘mi expressing thank selves in o pa, 1 tic endeavor to map out the welfare of our country by choosing the right. candidate in the next election. To date, Mr. Sitter has been the moderator. Sec you new woo/c. m~ ’l'lll". STEAM SHOWER Ever since Roy Hallihan has been sending away breakfast food box tops for G-Man outfits, he’s been getting into a mess of trouble. His latest escapade involved him in a local murder case, as one of the state’s chief witnesses. Now his side- kick, Doug MacDonald, Scotchman that ho is, walks the streets in an at- tempt to chisel in on some murder. It seems that there is a matter of a slight monetary stipulation accorded state’s witnesses — well, anyhow, Mac claims the exercise does him good. u a .n FLASHI FLASHI BUD PARKER was de