PAGE TWO THURSDAY, MAY 12. 1932 UNIVERSITY DAILY KANSAN, LAWRENCE, KANSAS University Daily Kansar OFFICIAL Student Paper of THE UNIVERSITY OF KANSAS LAWRENCE, KANSAS EDITOR IN CHIEF OTTO EIP Arnoldie Editors MANAGING EDITOR MARTHA LAWRENCE Make up Up Editor Lauren Schmidt Sunday Edition Caroline Hunt Sunday Edition Alfreida Wright Special Editor Albert Holmes Totally Editor Donald E. Harlan Alumni Edition Jessica Jannock Alumni Edition Jason Jackman Alumni Edition John A. ADVERTISING MANAGER CHAR A. E. SUNDERSON Advertiser Advertising Manager District Manager District Manager District Manager District Manager District Manager Material Sales Fold District Assistant District Assistant Other Office Charles F. Snyder AARON HAYES **Associate Director** Dana Rudman Phil Klarer **Associate** Jon Knoll Robert Wilson Mildred Cope Lelia Hickey Lucie Blade Silken Kim Fiona Morgan Sidney Kim Marilyn Ingersoll Business Office K.U. 66 News Room K.U. 25 Night Connection, Business Office 720 K.U. Night Connection, Business Office 720 K.U. Purchased in an advertisement, 84 times a week and a minimum of three consecutive weeks for each subscription. Subscription price $6.00 per month payable in advance. Unused as second charge on September 17, 2015. Purchaser must sign the terms. THURSDAY, MAY 12. 1932 JUST A SUGGESTION now that the mothers have departed, a suggestion regarding their entertainment for next year may not be presumptuous. Many mothers attended the banquet given by the University this year, but the crowd was not nearly as large as at previous times. Like everything else, the small gathering may be laid at the feet of the depression, but why not be original and have another reason also? MAYBE WE'RE LUCKY As usual, the banquet was interminkable. Mothers are not accustomed to sitting for hours listening to speeches. Many had not the endurance for it, regardless of the value of the talks. Next year let's have the banquet over at a reasonable hour and perhaps the crowd will increase in size again. In a few more weeks. Universities and colleges all over the country will turn out another crop of graduating seniors who will be looking for jobs. Some will find them and others won't, and many will pity themselves that they had to be graduated in a time of depression. An advertisement for a watch company in a recent magazine gives these seniors a word of advice and tells them to be thankful that they are graduating in a tough year. The story goes on to tell of a group of men who had finished school during the panic of 1907 and who in 1929 met in a class reunion. They were all men whose names make front page news. During the reunion they kept talking about how thankful they were that they had been graduated in a tough year. They rather felt sorry for the fellow who had been let out of school during a good year because he had missed the moulding lesson of their early struggles. There may be some truth in it. In spite of what seems to be a mighty poor time to be looking for a job, it may in some way be a good thing. Those who get jobs will have to work hard to keep them. Those who don't find them may go ahead and create jobs for themselves, and when the break does come, they will be prepared to make the most of it just as those men who were graduated in 1907 did. CREDIT INFLATION The Federal Reserve banks in recent weeks have been engaging in open market operations, buying government bonds on a huge scale in an attempt to pump vitality into the nation's deflated financial structure by expanding credit. Through this new credit, and by maintaining a low rediscount rate, the Reserve system hopes to assist member banks in paying off their debts and in making possible more liberal loan policies to their borrowers. Funds would also be released for investment by the banks, which would result in a stronger bond market and would facilitate government and corporate financing. By an order inflation of credit, it is hoped to supply the funds needed to aid a business recovery without risking the dangers attending a large expansion in currency. In periods of prosperity, the Reserve banks attempt to record overexpansion of credit by high rediscount rates and sales of government securities. Stabilization activities are a relatively new development in the Reserve system which was unforeseen by those who created it. Practically, stabilization has never been given a fair test. Theoretically, especially when performed in co-operation with central banks of other countries, it should prove an effective means of reducing the evils of excessive business fluctuations and of maintaining a more stable economic society. THE DEBT TANGLE Chancellor Brueing's announcement that Germany will be unable to resume reparations payments at the conclusion of the Hoover moratorium serves to emphasize again the need for another period of understanding on theving question of international payments. The moratorium of the past year has resulted in a substantial improvement in Germany's situation, but the closing months of the debt holiday find Berlin no more able to pay than it was a year ago. With reparations so closely bound up with war debts, any additional aid for Germany would almost necessitate a similar concession by the United States. And this, Congress is in no mood to grant. Many political and economic observers assert that our war debts are as good as canceled already. It is almost certain that they will at least have to be scaled down and another extension of time given. The ability of nations to pay has changed tremendously since the debts were last adjusted on that basis. But whatever the exact status, it is time that the governments involved cast aside the veil of politics and national prejudices which has enshrouded the whole debt question and face the facts squarely. Continuance of the present epidemic of flag waving and rhetorical thundering will serve only to undermine confidence still further and to aid still more to the existing international tension. Japan, howing at last to the force of world opinion, has decided to withdraw her troops from Shanghai, thus ending one of the most ill-advised national gestures in modern history. PRESIDENTIAL PRIMARIES Under these conditions, the primary usually turns into a race between the reigning favorite and the remaining factions of the party which are striving to halt his bandwagon. And, barring a landslide in favor of any one candidate, the nomination still is the result of strategy and compromise between organizations during the convention. The primary has had little effect in changing the order of electing presidents. JAPAN WITHDRAWS Despite the elaborate ballyhoo which is accompanying the presidential primaries, the part played in the national conventions by these elections is a comparatively small one. In the last four presidential years, delegates instructed by a preference vote or elected directly have on no occasion exerted a determining influence over the nomination. The principal defects of the primary system may be summed up in its lack of uniformity. Only about half of the states bold presidential primaries, and in many of these not all of the leading candidates are entered. Popular interest usually is comparatively slight. The "favorite soa" problem robs the primary of much of its purpose in many states. No real poll of popular sentiment is possible. There was no excuse for the in vision of Shanghai and the display of modernized warfare which resulted from it. The fighting claimed thousands of lives. It brought untold hardship, misery and death to innocent non-combatants. It contributed materially to Japan's financial crisis and cast that nation in an odium from which it will be long in emerging. It accomplished exactly nothing. The final cessation of hostilities at Shanghai comes as welcome news, but even more promising is the manner in which the Japanese withdrawal was brought about. That is an evidence of true progress. VARSITY THEATRE TOMORROW And Saturday ENDS TONIGHT "Impatient Maiden" Lew Ayres - Mae Clarke The pals of "Touchdown!" in a fun-romance-thriller of the air THREE DAYS STARTING SUNDAY "THE WET PARADE" Also "Battling with Buffalo Bill" And News Dorothy JORDAN-Walter HUSTON-Lewis STONE-Jimmy DURANTE Robert Young Mymy Lovy Woe Ford Ford John Keller Job Michael John Mckee There will be a meeting tonight of all activities and pledges at 7:30 in room 310. Pledges please bring paper and pens for notes. OFFICIAL UNIVERSITY BULLETIN Vo. XXIX Thursday, May 12, 1932 No. 179 Notice due at Chancellor's office at 11:30 a.m. on regular afternoon publication days and 11:30 a.m. on Saturday for Sunday issue. --- DRAMATIC CLUB: There will be a meeting of the Dramatic club this evening at 8 o'clock. FHLL BOWMAN, President MARJORIE NELSON, President. DELTA PHI DELTA: K CLUB: The election of officers for next year will be held in the Union at 7:30 this evening. PAUL BEARDSLEE. President. RHADAMANTHY: Rhadamanthy will meet this evening at 9 o'clock in the Classical Museum of Fraser Hall. Besides the regular reading of original poems, there will be an election of officers for the coming year. All members are urged to attend. FREDERICK E. WIRTH. RHADAMANTHI: There will be a special meeting for all the activists of Sigma Gamma Epsilon tonight, Thursday, at 7:30 o'clock. EDWARD HATTON, President. SIGMA GAMMA EPSILON: SIGMA TAU: There will be a meeting of Sigma Tau tenil in room 115 Marvin hall, at 7:30clock. New officers will be elected. LOUIS M. FARBER. President. WOMEN'S RIFLE CLUB: There will be election of officers this evening at 7 o'clock in Flower shop. NELL REZAC Captain Gustafson's $20,000 Jewelry Sale Now On Just out of their wrappings and Ready for Tomorrow's Selling New Janelle Frocks $1675 If you want something smart to wear now—and On through the Summer, then choose one of these New Janelle Jacket frocks—They're fashioned of the loveliest Silk Crepe in Soft Pastels—Interesting details include a Crocheted Yoke with Matching Tam—Outstanding in Style and Value. SEE THEM! Entire Stock to Go Arrangements have been made for storage space in one of the finest, new scientific Fur Depositories in the Middle West. All Garments are Guaranteed against Moth, and insured against Fire and Burglary—DON'T WORRY—Let us Assume the Moth, Fire and Burglarry Risk for You. LET US STORE YOUR FUR COAT MANY ITEMS HALF PRICE AND LESS We Use An Early Selection Wonderful Gift Selections At Marvelous Savings Also Fur Trimmed Coats and Overcoats. APPALEL—SECOND FLOOR Select Your Straw Tomorrow! ---- and $2 to $7 others ---- Panamas, Bangkoks, Leghorns, Sennits See Our Windows Jantzen Swim Suits for Men or Women A Record-Breaking THREE DAYS SALE May 12,13,14 Are You Thrifty? GOOD!! Then be on hand tomorrow morning and select a Brand New Spring FASHION-RITE Suit at the Lowest Price in their history. Just 125 of Them Alterations $17 Extra Free Trouers S4 THREE DAYS ONLY Thursday-Friday-Saturday The Gibbs Clothing Co. "WHERE CASH BUYS MORE" 721 Mass. St.