Newspapers / The Journal-Patriot (North Wilkesboro, … / June 22, 1933, edition 1 / Page 7
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REACHING LEGISLATION WRITTEN INTO LAW UNDER ROOSEVELT LEAD >>VaaliJa^on. Jane 20.—A *‘>n- wenry from labors that have n the fMeral government pow. Inkhnately affecting directly, '« n^Broctly, every person in.the cbontry qnit and started homeward last night. It held the customary rousing, fevered flnish. Adjournment was .delayed while the regulations lop- ;g off millions from veterans Cbmpensation were recrutinized. Thne was taken also for brisk, if, Iffief straggles before the indus tries control measure, the bank re form bill and other pending pro- jtosals were sent to the White base. But in the end, Franklin D. sevelt had his way. He has had almost uninterruptedly from the hour he called the special session, only a few days after he caught the imagination of the people by swift, decisive steps dealing with lanking crisis. at was only the beginning of 8 SAdes of moves that have result ed legislation, bewildering in complexity and so broad in scope that farmers, manufacturers, bank ers, railroad operators, workers and other millions are looking to it with hope or alarm, as the case may be, as the arbiter of their economic destiny. The New Deal At Work His attention turned for the moment toward the London econo mic conference, the President plan ned a vacation trip to his Maine home, the first extended rest since he entered the White House. But meanwhile, in jWashington, stiff with newness, the machinery for his promised new deal was mov ing. n took Congress only a day or two after it assembled to vote Mr. Roosevelt power to reopen the na tion’s banks virtually on his own terms. That measure also sus pended domestic gold payments for j the time and continued the embargo ' on gold shipments abroad, as it , turned out. this was the prelude ' for the definite abrogation of the gold payment clause in contracts and the inflation measure itself. Almost any of the measures al ready signed, or awaiting signa ture would have required an ordi nary session of Congress months of argument before reaching a de cision. >jw CE OF S.AT.E TATE UNDER lUST. OP RF.AL DEED OF Under and by virtue of the power of sale contained in a certain Deed of Trust, dated April 1. 1927, signed by D. M. Church, (unmarried) recorded in the office of Register of Deeds of in Book 167 at lecure the payment notes therein men- default having been Important Measores In addition to the first banking bill, here are the measures that went through from the time the special session convened until June 15: The economy act, reducing veter ans’ compensation more than $300,- 000,000 and the pay of government workers by $126,000,000. The gigantic three-in-one meas ure authorizing inflation; giving the secretary of agriculture unpre cedented power to raise farm prices and providing $2,000,000,- 000 to refinance farm mortgages- The Tennessee valley authority, ending the 12-year-old row over Muscle Shoals. The'civilian conservation corps bill to put 175,000 unemployed to work in the national forests. The industrial control bill to al low industry, through government suasion if necessary, to eater agreements limiting production, raising wages and reducing work ing hours. The Glass-Steagall banking re form mt'a.sure. looking toward a unified, national banking system. The Wagner-Peyser bill setting up a federal-state employment sys tem. A railroad niea.sure to enable the carriers to remedy their troubles through a federal-co-ordinator. The home mortgage bill provid ing $2,000,000,000 for refinancing mortgages on small homes. A resolution abrogating the gold payment clauses in existing or fu ture contracts. The securities act. The measures putting federal agriculture credit institutions un der the farm credit administra tion. The $.3,300,000,000 public works program, pas.sed as a part of the in.iustrial control bill- The measure voting $500,000,000 for direct relief grants to states. The $3,500,000,000 deficiency bill which provides th? funds for many of the venture.s previously decided upon. .Many of these proposjds were fixed in President Roosevelt’.s mind before election but there are indications .some were the result of unexpected developments after he as.sumed office- .Among these latter falls the pro posal which gives him authority to bring about infiation through oj)en market operations, through the is.suance of $3,000,000,000 in greenback currency or by reducing the gold content of the dollar. Inflation Seemed Necessary It is doubtful that Mr. Roosevelt intended to ask any such power when he took office but it soon was apparent to him that billions were impounded in clo.sed banks and that the results of his govern mental economies were ir.creasing deflation's downward spin. Iiillation sentiment in Congre.ss measure had argued for weeks without result but in the closing hours of the session they tried once again. Aided by a telephone call to the White House to hear once more what Mr. Roosevelt had to say. they emerged in a little while and announced an agreement. This statute, unless modified, will lead to a unified national banking system. It directs divorce ment of security affiliates from national banks; requires private banks to give up either their in vestment or deposit business- Prom January 1, 1934, for six months, deposits up to $2,600 will be guar anteed 100 per cent. After July 1, 1934, deposits up to $10,000 will be guaranteed and there are limited guarantees for larger sums. The banks will have three years to join thtf federal reserve system or drop out of the insurance protec tion. Much Kolier Handl('I So widespread was the depres- ■sion during the years since 1929 that the administration program to pry the country out of the slump had to be .supplemented with some thing to enable millions to hold on meanwhile. Relief and recovery prescriptions were so intertwined that some pro posals were a blending of both but others were frankly the former. Among these were the $500,- 000,000 for direct relief grants to .states, to b^ issued in turn to the neely. A few faint cries of “dole” were heard but they were drowned in a chorus of approval. .Attention was also given the bitter plaint of many farmers and home owners that better times would come too late unless provis ion was made meanwhile to ease th^r debt burden. ■The response was $4,000,000.- 000; $2,000,000,000 in bonds for the mortgage harrassed farmer and the .same amount for the home owner. The home owner, if the values of his hou.se is $20,000 or less, may apply for help through federal ■savings and loan institutions, or similar private institutions, from where his application is directed 1 '■ ■ PAGE SEVat liberalization of the reatrictlonk of medicinal liquor. ' Mr. Roosevelt did not call direct ly for ratification of repeal of the 18th amendment during the Con gress but he mentioned that addi tional taxes would be repeaW if revenue from liquor was available for treasury benefit. Throughbut the session, there were tremors on the hill at the rumor the President intended to ask authority to deal with war debts and also to lower tariffs. Opponents stripped for action an,' administration leaders prepared for I their hardest fight of the ses- soin. I Their preparation was energy j wasted. Neither proposal passed, the formative stage—if they got that far. Methodist Church Notes to the corporation created | under the home loan bank system. Should the mortgage holder agree, the corporation will assume the debtor’s obligation up to 80 per cent of his property’s worth, if the 80 per cent is not over $14,- 000 the creditor gets bonds bearing 4 per cent in return, the interest being guaranteed by the govern ment. The debtor agrees to pay the corporation over a 15-year pe riod. The procedure is similar in the case of farm debtors- Money is loaned in this instance through the farm credit administration. The feder.al land banks issue the bonds and their interest is guaranteed. The farmer is charged 4 1-2 per The Vacation Church School has an enrollment of 103. Ex ceptionally fine work is being done. Next Friday morning is graduation day. Parents are in vited to attend. The school will run through Friday. Daily 8;.3i a. m. to 10:30 a. m. Miss Christine Irvin acted as chorister in the Sunday sch' A Sunday. Mr. W. O. Gabriel taught the class in the absence of Prof. Halfacre. Fifty-nine men wer; present. The Sunday school went way over two hundred Sifnday. The Stewards met after the morning service Sunday. TIio choir met with the pastor to ad just practice time. The W. C. T. U. will meet w;i,'i Mrs. C. D. Coffey, Sr., Thursday. 3:30 p. in. All ladies invited. Plans are tinder way for tw vacation camping trips; one for the’ Boy Scouts and another for the A'oiing People of the church. Mrs. Palmer Horton taught Dr. P. J. Brame’s class Sunday. Ur. Brame is greatly missed: The congregation stood in si lent tribute to the memory ol Rev. J. Frank Armstrong a for mer pastor who was killed in ■ i accident last week. “Be ye even so ready!” The Fellowship hours were well attended and good programs presented. Miss Mary Hix had charge of the Senior Young Peo ples’ hour. At the evening service the A’oung Peoples' Choir filled the choir loft to aid with the sing ing. The pastor spoke on, “Set ting Oneself Right.” He outlined the attitude one should take to wards questionable things with reference to one's own personal ity and the community. -Mr. Haz- en Wilcox played the offertory on the clarinet. When there is sickness or need call the pastor. His phone is SO. Use it! ;‘Not What Yuu’d Call Broke” AUten T. RM I* ^ THE REMl ^FlOURES The U.S.RETAIL BUSINESS. ' is t3l,5oo,o»,ooo^ which is nearly 3 timos fhe WORLD’S EXPORT BUSINESS of 112,125,000,000.. Our SAVIN6S 8ANK MWSITS . ateh4.2So,ooc,oo^ ^ almost half ofALLOTHta NATIONS (DNBlNEO, of f 17,000,000,000. 3$' WHEN YOU SEE THE NEW flHMUr HmW€EW4T0H Wll You, Too, Will Be Like Many Others, And Say: Two Services At Local Methodist Church Sunday '(in me payment of said notes, and demand having Uvas running a high temperature. ] cent. The amount of the mort made on me; Ilt'wa.s douiitful that it could bC|Kage must not exceed 50 per cent | th; Insur of ten o'clock a. m. at! frigid W hite House. door in Wilke.s-' .Mr. Roosevelt, \v;th the the rourthouse Rev. J. H Armbrust, pastor of the North Wilkesboro Methodist church announces that he will (Ill-each at both the. services on Tlie morning sermon , i. r I theme will he. “Having .A Sensi- ! tne property and 20 per cent of the , quick'valu- of permanent improvements I‘ for sale for ca.sh to;assent of the majority of Con gress, calletl for inflationary pow- horo, (offer the hi ghest bidder, the following led real estate, to-wit: \ ertain tract of land lying a-; ' ring in Wilkes Conntv, s-..-.' of North Carolina; \ !-■ lining the lands of W. F. Wat. I s, C. D. Coffey. Dick Wat- 1 \d others and containing more or le.ss, and being d purchased from Tom individual loans being limited to the evening hour he will speak on some theme of i .$5,000. Consent of tine mortgage interest to the public. Everybody ih h Gr-"II Tbi, 7-6-1 12th dav of June. 1933. A. H. CASEA'. Trustee. JC HNRUSKIN IS AMERICA’S GREATEST m \ CIGAR .VALUE 6^ ers to use when a-ui if he saw fit. At the same time be male it plain that the country was ff the gold .standard and that the dollar could find il.s own level abroad. .A rise in commoditie sand securi ties followed. But thus far the psychology of inflation has brought ino.si of the a.sc'Of for the green backs are virtually non-i4; stent and the gol,l dollar, thcorefically, contains the standard numbev of grains. Prior to the inflation venture, the administration had launched its farm price raising program. It holder also is necessary to this ar rangement. Through reductions in veterans’ comp -nsation, originally estimat ed at $420,000,000, but later re duced somewhat, the $125,000,000 in .salary cute, prospective beer revenue fi.xed at $150,000,000 and other economics, he believes he lacks only around S150,000.000 near Dover today and was fatal is invited to attend. 10-Year-Old Boy Is Killed While Asleep On Tracks Kinston. June 19.—Edgar Av ery, Kl, minding cattle, fell asleep on the Norfolk Southern railroad track before his home n>xt to have balanced budget i year. In the closing minutes, Mr- Roosevelt laid the first of his gov ernment reorganization orders be fore Congress. There were quick of the (iroposals ; ;>ik1 strong protest.s but the orders became ly injured by a train, He died after being taken to a doctor. Me was the son of Mr. and Mrs. IVilliam Avery, a farm couple. lumped many Congre.s.s has talked about since became effective within 60 days the war and gave Henry .A- Wal- unless disapproved by both hou.ses.' 'ace, .secretary of agriculture, pow- .The legislator.s went home without . any seriou.s attempts at a veto. “Franco wants security.” The very thing Uncle Sam should have asked tor when he loaned the money.—Toledo Blade. cr to trv any or all of them. Don’t be misled by old time brandi “marked down to 5c.” JOHN RUSKIN always was and always will be America’s Greatest CJifar Value at 5c. It is die real 10c. quality d*ar selling at 5c. JOHN RUSKIN has more than 60^ choice Havana filler, giving it a taste and aroma all Its own. Boy a few today aod learn for yonrtclf what real smoking enjoyment is. The President frankly described the comtiination as an . xperiment. -An experiment it r- mains, al though' Wallace and his assista-its .ADAnNISTRATOR’S NOTICE Having qualified as adminis trator of the estate of James R. Grayson. I hereby give notice to The chief ex( cutive estimated the realignments would save about $25,000,000. In the shuffle, the once powerful prohibition bureau vir- | gn persons indebted to the estate ji.’itemi to bring it out of that cla.ss | tually disappears and the shipping to come forward and make settle- '—’ ■- ment and those holding claims against the same to present them for payment within twelve months from date of this notice. I soon. I board is aboli.shcd. Bunking Bill Saved , The President repeated a sec- It seemed for a time that bank-jtion of the Democratic platform ing and finance would be affected almo.st word for word in asking by the administration program | legalization of beer. Before April only to the comparatively limited ; was over, the measure relaxing extent called for by the securities i the Volstead laws was awaiting act- :the chief executive’s signature. Conferees on the Glass-Steagall | .Almost equal .dispatch attended bar or it will be pleaded in their recovery. This 3rd day of June, 1933. J. C. GRAYSON, Admr. Estate James R. Grayson, Dec’d. 7-10-6t "THE MAIN THING ON MAIN STREET By LT Fv Van Zelm 5itiIgl8u2Z
The Journal-Patriot (North Wilkesboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
June 22, 1933, edition 1
7
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