Thirty-first on First

"Proudly we report to our forefathers that the Republic is more secure, more constant, more powerful, more truly great than at any other time in its history. Today the American people begin a period of tribute and gratitude to this man whom we revere above all other Americans. Continuing until Thanksgiving Day they will commemorate his birth in every home, every school, every church, and every community under our flag. . . .

"The true eulogy of Washington is this mighty Nation. . . . What other great, purely human .institution, devised in the era of the stagecoach and the candle, has so marvelously grown and survived into this epoch of the steam engine, the airplane, the incandescent lamp, the wireless telephone and the battleship? . . . We should strive to identify the qualities in him that made our revolution a success and our Nation great. Those were the qualities that marked Washington out for immortality . . . Lexington . . . Concord . . . Bunker Hill . . . Valley Forge . . . Yorktown. ..."

Thus last week, did the 31st President of the U. S. speak of the first President of the U. S. The occasion was the 200th Anniversary of George Washington's birth. Inaugurated was a nine-month patriotic celebration. At noon President Hoover addressed a joint session of Congress, attended by his Cabinet and the diplomatic corps. After his speech he appeared at the east front of the Capitol and heard 12,000 people sing "America" under the direction of Walter Damrosch and John Philip Sousa. After lunch the President motored to Alexandria, Va. to review a parade which included cadets from Virginia Military Institute, the Richmond Blues, American Legionnaries and the apparatus which George Washington bought for Alexandria's Friendship Fire Company. At Mount Vernon the President spoke to a convention of the National Education Association and to the country at large through the first microphones ever installed in the Washington home. P:Following a ruling by the governing board of the New York Stock Exchange that, after April 1, member firms must not lend securities without written consent of the owners, an action to curtail short selling, President Hoover declared:

"There have been discussions between myself and officials of the New York Stock Exchange on the question of bear raids. . . . During the latter part of January . . . there was a large increase in the short account which unquestionably affected the price of securities and brought discouragement to the country as a whole. I again expressed [my] views to the managers of the Exchange that they should take adequate measures to protect investors from artificial depression of the price of securities for speculative profit." P: President Hoover asked Congress to appropriate $1,000,000 for Federal participation in the 1933 Chicago World's Fair. P:The President appointed James H. Douglas Jr., 33, Princetonian ('20) and partner in Field, Glore & Co., Chicago investment house, to be Assistant Secretary of the Treasury.

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