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Old Age Pensiona 'j
Does Lashing Do C.l?
Those Cosmic Rays i
1 Financial tonservatUm la 1
. tated . because old-age pensions r i
planned, moderately, by the I
dent; would cost .one billion C i
year. Conservatism might I
worry, about Doctor Tow i
plan to give two hundred . a
month to everybody past Bt' ; .,
of age, and cost at least t y
four thousand minions a j,
Conservatism might a" -;rry
boot hJUionB apent u; .. j tu
state, national or local government
costs, and taxes that ran above
thirteen thousand million dollar a
,.-"; 'V-l'OV ';.
At Wilmington, Del, three young
; men, eighteen, twenty and twenty
three years old, were lashed la pub
lic, a crowd of one hundred look
ing on. . 'YYYYhY'Y'yYt-SP
i After the lashing,, on the bare
jack, the ' youth began ' ten-year
prison sentences for burglary. The
lean frightens criminals more than
Imprisonment, aa was ' proved' In
Xondon, where an epidemic ef "gar
rotting" ended as soon as the lash
was used. But what will be the
mental state of those young men
when, they leave prison after long
association with experienced crim
inals, and constant brooding on the
humiliation and pain of the lash
IngT . "!' . Y'-iY,v,
Can It be hoped that they win
t reformed, or be anything except
confirmed criminals, ' and- enemies
of society I " ' . -r '
A learned erman says he has
discovered the source of "cosmic
rays" that bombard all space,1 con
stantly passing through your body,
although yon don't know It driven
by the terrific energy of billions
of volts, i The professor suggests,
that the bombardment, may occa
sionally break down a few. of the
atoms In the human body, thus
lowly changing heredity. '
That sound like great deal
of trouble, ; to change heredity,
.which depends, really, on the right
girl ' choosing the right kind, ef
lather for her children. , "
Doctor . Sukenlk,' professor ;. of
archeology In the Hebrew Univer
sity of Jerusalem, has discovered
graves tflx thousand years old, that
CO far back of Moses and Job and
others well 'known.
These graves were dug, and filled,
long before the Jewish nation had
made Jerusalem their principal dty,
when other,, earlier races Inhabited
the site of "old Jerusalem."
, ' Talking into a telephone In the
iWhlte House, with ampUflers at the
other, end, -the President greeted
six hundred members of the Hol
land society, at dinner -, in New
1 Tort; He felt pride In contribu
tions made to this country by the
'.-: men of Holland through three hun
dred years. The Boosevelts are of
' Dutch origin, but unlike his dl
tant cousin, Theodore Roosevelt,
. - the President did not recite any
- v childish Dutch poems about cows
In "the kopjes." To know what the
' old Hollanders really were, els fight
ers and "stayers," read Motley,
' Names.; that sound strange to
Western .ears figure In the case of
Tony -Fon ; Lew, Chinese ' doll
erlde." She end her alleged fa
ther, Mr. "Gin Lem, are accused of
arranging marriages, taking money,
and (hen not marrying. - " ...
: Mr. Keck. Lew, Gee, angry Chi
nese: merchant, says he' paid $1300
, ' to marry , the toy bride, but. got no
. ride,' Other Interesting names fig-
vre in a . discussion; ; that almost
caused war, between the ' Los An-
' geles Hop fling Tong and the Four
.. , ramUles AsewtaHon, .' . 1 ; T .
- ' Chinese names sound strange to
1 ... oar ears, - but Jones or Robinson
would sound ridiculous to the Chl-
nese,. Fon Lew end her pretended
father ran away to China, but will
be brought back and. Gin Lem will
be tried for violating the. Mann act
The Saar plebiscite, as was cer-
i tain In advance, proves to be so-
perflcially a victory .for Hitler. In
reality, Jt proves the devotion of
' Germans to Germany .under any
With the DoDulatlon of the Saar
more than ,95 per cent Oermaii;
voters were . asked whether ' they
"v wished once more to resume Ger-
man citizenship, throw In, their lot
' .with France, or remain suspended
In the. air as wards of the League
of Nations.;- It was certain that
Germans would vote for Germany. .-
Our national defense authorities
are delighted because a great Amer
inin new Diane - labeled XP2H-1
flew nonstop to the Canal Zonefrom
-Norfolk, 2,000 miles,. In 25 , ooors
Amelia Earhart recently flew 2,400
mile In 19 hours,' alone, without
sleep. ." '
And a Russian plane has flown
7,500 miles nonstop.
Uncle Sam. to equal Russia, need
only multiply that. 2,000-mile, non
i'np flight by three, and add 1,500
j i a to ti.e tJtaL
& Kins F -" ""!!, lae, '"
's Four Elllion
.sJ Through House Af::r i
ILiuptmann Takes StaiiJ ia Own L
ADMINISTRATION forces. using
steam roller tactics crashed all
opposition to Jam the President's
ti.SL'O.OOO.OOO relief program through
the house. Efforts.
to flght-the grant
of such .unprece
dented authority to.
the President , were
unavailing as 5 the
cracked ' the whip
over .revolting rep
vote on the meas
ure Was 328 to 78.
. The vote climaxed
a furious eight-hour
debate on themeas-
ore.: Members attempted to attach
amendments ' which would protect
private Industry from1 government
projects which might, be launched
under the relief , plan. When this
failed they endeavored to allocate
the money for specific purposes.'
When the debate bad reached Its
height ' the President sent a mes
sage to the house declaring it would
bs impossible to segregate Items
for which the money would be ex
pended, but that the huge outlay of
suma would be devoted to publte
projects and that after the immedi
ate crisis: of unemployment had
passed it was his hope . that the.
country could set aside 500,000,000
a year for the "national plan.". .
The White, House- message was
the signal for 'the Democratic maV
Jority to push the message across
with little change from its original.
form. On the final vote 20 Repub
licans voted for ; the bill.' Seven
Progressives and three Farmer'
Laborttes also registered affirmative
votes. ; Ten Democrats, five , from
Georgia, three -from" Virginia, ' and
two from Indiana, voted with the
opposition. i f "
Because of the gag rule 'adopted
by the house, only amendments .of
fered by the appropriations commit
tee could be considered In vital sec
tions of the measure. 8uch minor
amendments as were decided upon
went through . without serious op
One of the amendments striking
out a list of projects that might be
Included in spending the $4,000,000,
000 and left the vast sum to be used
for "federal or nonfederal projects"
actually broadened the powers of
the President The 1800,000,000 will
be used at the President's discretion
fori relief purposes while the pro
gram Is being put Into effect -'
s Another amendment struck but a
subsection wbjcb gave the President
authority. to postpone the end of any
existing government agency. This
was a move .to satisfy certain Dem
ocrats who were opposed to Secre
tary Ickes, and hls.PWA.program
Which expires In 'June.- Another
clause granting authority to the.
President -to acquire personal prop
erty by the power of eminent 4 '
main was also removed as waiihe,
section granting the Chief Execu
tive the power to impose two years',
Imprisonment on. any violator. The
only other - amendment .which, suc
ceeded In - passage was one -whjch
-provided that ' an . accounting ' be
made for all moneys spent-.
Minority Leaner: Snell attacked'
the bin declaring that ' the money;
involved amounted to one-eighth of.
the national Income,' and that the
house waa entitled to know what the
money was for.- Later In conced
ing the minority's, defeat he said
that tf the- opposition was' free 'to
speak Its njind, the bill wduld be de
feated two' to one, but that .tinder
the executive lash, there was 1 no
chance of ,defeating.lt.;-j .;;'y
XJEW DEALEHS sighed with re
lief -es the Supreme court re
cessed nntil ' February 4 without
handing down its decision Mn .tlje
gold cases,' thus giving the adminis
tration more time in which -to "pre
pare legislation designed to handle
the situation In the event the" court
renders an adverse decision.., , ? '
; At the same time the court prom
ised to decide h. ease presenting a
clear-cat- test of the constitutional
Ity of the national ; recovery act,
and; which will have considerable
effect upon the ultimate fate of the
already bedraggled Blue Eagle. ,;
EGISLATION which would per
J mtt the small Investor to buy
government ' securities and- . which
provides for radical changes in gov-,
ermnenY ..financing Baa-, been Intro
duced In the house by Chairman
Donghton of tlie house ways- and
means committee. V "?;v ;1 . ;; '
.. The bill prepared by the Treas
ury department, places', the admin
istration squarely against inflation.'
It provides authority to raise money
necessary for . the; public ; works,
social security and similar meas
ures, 'meev' federal deficits, and
might even be used to provide funds
for payment of the soldiers' bonus.
Dnder provisions 'of the measure
there would' be ten-yen r bonds' In
amounts as small as. $25, and as ex
plained by the.. Tre" V ; nrt.
poll r :
ment, would, be sold .below par. 1
There would ' be no lilterest, but
each six months the.. bonds would
appreclpte in value at the rate of
24 ' per cent plus compounded
earnings. . . -
Huge -'sums ' are Involved: - first
the creation of . a -revolving bond
authorization fund of $2,500,000,000;
and.second, the consolidation of the
two present revolving funds of $10,
000,000,000 eachlpto a :jolnf $20,
000,000,000 fund , for bills, certifi
cates and notes, 'v ;:;;.; -;-vi;:.v'; v
XlAR flamed again In Manchu.
T kuo as Japanese troops struck
suddenly at three points In Chahar
province In northern China. Three
fortified cities were shelled, : and
there : were Indications, that:- the
drive bad . only begun. .';'-v-' .
' .The Japanese' attack came as a.
surprise since. It was ( reported that
negotiations for a 'peaceful settle
ment of the dispute over Chahar
province had been nearing a suc
cessful concluslan. .' Japan had as
serted that Chinese- troops lh Cha-.
bar had Invaded. JehoL, . .". ' .
"r Military authorities ' declined. to
announce, the real' objective of-the
drive.. The district . which . the
Japanese' troops occupied Is about
.150 miles long by 80 miles wide,, and 1
la said Tto, contain valuable 'gqld
mines, .- . .
f .. Japan"' i action - Is seen by " Chi
nese leaders as a determined gee-'
tut to Intimidate Mongolian princes
ef Inner Mongolia and. to cut th
overland ' route connecting pelplng
with . tJrga, capital - of Soviet
controlled Outer Mongolia. Yi , ' - '
; The situation Is viewed with con
siderable ' apprehension ' by, Soviet
Russia. , The driv, will .trina
Japanese military operations .Into
direct contact, with the borders Of
Outer Mongolia, and practically.' all
high officials of tle territory who'
hav,e .been attending the Soviet an1
nlversary ' celebrations In 5 Moscow
have hurried -back to 'their prov
inces. '"i;.'' t i'-
XHmFACTD, arid'er the glare
v v ' 0f. th conrtroont llirhtR.' but an-
parently coe), Bruno Richard Haupt- ,1
mann took .the stand to begin his
.ngbt torture.. 'The
' (N, J.)' courthouse
was. packed a the
man accused of the
murder of the first
born son of Charles
,A. Lindbergh began
- ma , testimony wqicn
he appears .'' confi
dent will save him
from .: the electric
..H Bruno- .'.. caimly,hetojid"of
Hauptmann,. hls earjy Ue, 0 bl8
war $ervlea,tand admitted that he
bad- once been convicted In "Ger
many. . His thick, guttural voice 're-sounded
through the room ashe re
counted how ;he. had nde three. ab
tempts to ehter this country before
he was successful.' -
. Under thq 'smooth questioning of
Chief Defense, Counsel Rellly he re
lated the details of bis life' up until ,
the Hme of the, Lindbergh baby kid
naping; and then proposed the alibi
npon. whieh he is Apparently relying .
for, acquittal.'. ;'; .:,;.;';-' iYf
.Bauptmann declared, that on the
night of April 2, 1932,; when 850.000
. was paid to'.a man. In St Raymond's
cemetery, New - York, . Be,'; his; ' wife
gafl a map' named Kloppenberg had ,
een at home until about .eleven
o'clock andthat,he did, not leave his
I nome't,al(. that evening. He alsd
denied that oe baa been absent rrom
work oq the day -the kidnaping took
place, i ' V 1 '' - .' '
Two witnesses Introduced by the
defense to esiabllsh Bauptmann's
alibi were not entirely, satlsfacr.
tory. Christian Freferlckson, Bronx,
bakeii sajd Bauptmann's wife had
been 'employed In his store.' as a
Waitress and -counter girl and that--the.
aecused had called for her 'on
the night if March L Upon cross
. examination - .however, .he . utated
that he was not. sure, hot that-.lf
innat have teen so" because It was
Hauptmann's custom to calf for his
wife whenever she- worked' lflte '
' Mrs.' FrVderlckson also stated that'
Mrs. Hauptmann worked late on the
night of March V but was unable to.
say 'whether Hauptmann had been
at the bakery. She stated, however,
that she had seen Isador FIsch, fur
rier friend of Hauptmann Who died
in Germany, on the eve. of his sail
ing fur Germany. In NoVember, 1932.
She said Flsch! displayed a large'
sum of. money,, but she -.was -unable
to s&y whether It -was In greenbacks-
n m t it t 1
or gold ceftlflcates. . - ',r' i '. -:
Threnghp'ut Haup'tmahn's' testl:
mohy Colonel Lindbergh . continued
to-stare at him.' During the court
session, Lindbergh reiterated his be
lief that Hauptmanh's voice was tlie
same as thaf -'of the .mysterious
"John who bad hoaxed him out of
the ransom money '-nearly, Jl"-4
ypfil'S B,fO. . ' ' '
d ' u.
g 1 wiU be j
1 ielt , In ' a
d. be 'sent
pw- indicated 1
stri; jries bf aii
fur - States, th
tion tne 'to tl '
Ice, , :g ; a ' huge
ble iong , the 1
wl. lent approves.
1 construction i
bn : i-port Just -ni
t' ion commls :j. t
la i f the commli '--a t
J- ,ie to a comtn"- 1
fi ) . r ship to the toif
Z iwOl. Start, regular
traii- rvicft wltiiln' a ew
,WP . Yi'T "' '
1 : : f bases along the Pa
ctflc f: ic e'oasta will , make
A me ablevto air attack,
the c;-. 1 believes,, while -the
addition - 3 planes fp the army
and nav. vice will' bring It up
to-, far n an-' the existing fight
ing etres 1. '-Ai-'::-Y'('-'-'
".The-' co ' ion' has-' also recom
mended o. h of a special flve
. man avla'.i,,i commission1 to- fegu
late. Civil a Jbttea,' '
' ' '' W,'
pOSSIBiLirr of a move by "the
1 Italian f overnment to -make 'a
protectors- out of Ethiopia was
seen by can .statesmen. 'Ex
ploitation of ihe an
nouncement of the'
slaying of a French
Istrator and 86
French colonial em
ployees ana' Somalia;
was. said- to Indicate
that . a movement'
was on to.r' Italy to
take over the moun-.
talnoue' Af r I e a n .
kingdom to restore
order.-' The consent
of France and Great
Britain ' tp - the plan- has been ob
tained. : rVfc'it, v-;'Ji'v:; .,
-' Ainumber' of recent developnients '
Joint toward some-action' 'by' the
talian gove men t Premier. Mus
solini recently took 6ver ,vfhe - of
fice 1 of minister - of -colonies;:' Gert
Emillo ae Bono, -f order minister tit
colonies- was named high comnils
sloner of Itallap East Africa; mill
ary roads hav.e been 'constructed,
through . Italian. Sdmallland to, the
Ethiopian frontier ; and "the . ItaV,
tans have recently taken over ' big
ger share 'In, the' operation' of the
Djlloutl and Addis Abbaba. railway,
wits) French -consent rf-.'',v'-i.
' Recent . hlBtory affords a ' num
ber ; of 'precedents r for .the Italian
government to 'follow., Japanese In
tervention In "Manehnriawas .'to'
restore Or'er iaad' -reducei; Chinese
banditry," and Italy might use. the
.excuse 'of .reducing Ethiopian- ban
ditry as a reason for invasion. The
British action in Egypt and the
Sudan, and the Trench subjugation
of Tunis, also offer parallel cases to
.foiibw,v;?' ' t j,;' -iV i1
iWar W Ethlepla""wouJ4,'lnv01ve
'considerable expense due. td the rug
ged' nature of the country, and this
te' seen, by .'some as a 'reason ' why
the- Italian government has "not act
ed: sooner.' -The Ethiopian emperor
has been' buying, 'ail the--arms and
tnuhltlons Je 'can; it has-been Te
ported, r'ln preparation .for the Im
pendlng trouble. ',s.ti' y
l . Hlrta,- - warned , Soviet " Russia'
thatshe. should-stop" fortifying tiie
Siberian.'' frontier north of .Man-,
chukuo 1 , JMendly relations -are-, to
be -continued, bet ween the,; two couo-,
tries." HIS remarks,' made In1 n ad
dress before the Imperial diet 'had
special significance in vjew of. (re
ports that Japanese troops' are In
vading Chahar province to prevent
Sovletlzadon-of fhaf region. : j''
.. Rpislan fortlflca0ons'ln the Far
East,' paadcularly . of. the .strategic
cro'sslngs S thrAmur.'river, ar? be
coming' Increasingly. irksome to the J
I, Japanese' army In Mrinchukuo. Other
iwvjvvt fry WUU .U, .11 IB -t
Ing . ' are dOnble-traeklng 'of -. the
Trans-Slberla'tt railway to. Vla'dlvo-'
'itok and renbdllng, of the strong
fortifications of that Pacigc port
Hlrata also referred ' to the So-
,Ietliatlon 1 of ' Slnklang, the. huge,-
sparsely settled pmln- of - .north
China, .which adjoin, the Russian-.
controTIed regions of ' Mongolia.. '
- Government ofBcinia In Washing
ton were rfald-. to te favorably im,
pressed '.with part of, Hlrota's, ad
dress which; referred to Japan's de
fre to aypld- further expansion or
armament -' It Is hoped- that 'ne
gotiations win be resumed soon for
another agreement' to' replace the
renounced 6-6-8 rafio for the United
States; Great Britain, and, Japan,-,'
.death- toll - continued to
A mount as reports seeped In frqm
nonnweptf Mississippi sna csonn
w'est'v Tennessee wi -re the tu'rU.i)
leht ,'Coidwater rlvor was 'a- raging
torrent '. threatening , tlie lives and
property o', thousands In'lts march
jo the Tallahatchie l asirtw' : ; v
Freezing weather nd Jed- to thf
snfferlnit of thonsni 1 driven from
1 their hornes." Wpr' ers tolled to res
fcue as many as po- ole of thbsr
who bad been tnnr -on.ed. on ropi
tops a'nd trees." A' number. of
communities,' have I n . evacuated
because It Is,. ff 1 I the waters
will continue to f -ill.. ' Appenls
for additionn-l .h p ! i csi rin r for
fh( hon-i-lc's ha- f ' ' n " ' bv
public i-'ils. bs I . ';-3 k!
,h;i - rn-bed t '
j . -: - l.- t r
j "v S :;1'C". t
X jvf"j siuie buck 1
f 1 ") t J t
rl -1 c
t cf t: a i
J a W. I
.ilI.i s. 1- '
v -.- '.er cf tl.e b x 1
mebiis coH'nili! i-e, v, is
d -ul with Lai.;. r, 1
t!e linportuuce of 1. ;i v ' (.1
subject Is due not 1 I
connection,' but to i
In the ho.-.-Ji.s,.p'iiJ t ' " 1 1 '
is very o'vlouii!y t 3 i. .
for the Trensury - t.
, No one In tlie t.'e,. j,l a I o
retary Morgeutliau c ah, e-.l l--cludlng'
Comptroller t,f t';e Ci-'t.ii-cy
J. F. T.. O'Connor, Is tuH.hig on
this subject at all. It Is not a sub
ject which lends -Itself to tnuth open
talking, for to advonite euch a
change -m. to antuRonlise (not .only
the stockholders, o. -:rs and direc
tors of all the state banking Institu
tions, but the 48 state banking of
fices. The latter Bee in any move to
end state banks 'a threat at their.
Johs. And some; of them are quite
Important! politically. , 1" ' f :- .
But down , underneath, the admin
istration ts strong ! for a -"unlfled
banking system, for much the Came
reasons, as voiced by McCormack.
And f If . treasury offlaals see a
chance to get the desired legislation
enacted they will come out for It
strongly. They have several Influen
tial members of the house, and sen;
atft talking their 4arguments-rFith-out
Official authority and'. trying to'
find. out what .the "chances are., ';
' For in the nature, of things-the
administration would much rather -this
' particular -move .originate In;
congress than to demand-It And'
It IS not vital enough to President
Roosevelt's program .for ' him to
turn, the heat on members whose
connections back bom would make
It. politic -for them' to; oppose the
change.j'.' Y'iY Yn----Y-Y :
; "The , present V-depresslpn -r'has
sj6wn the weakness of the present
banking structure," Sir. McCormack
told At writer. "The tonHtct-.of
law andof supervision Is responsi
ble fof much of our banking,; trou
bles. The idea of having 49 author
ities granting charters to' banks is
absurd. The Idea of 49 agencies ex
amining banks to see. If they are
soivent and are complying with 49
sets of banking laws, is ridiculous.':
Requuce Federal 'Charter- -' 1
Yt ..would force' every tank doing
a commercial business to take put
a federal charter. in fact J-. would
permit no bank save mutual savings
banks to do. what la ' normally re
garded as a banking bpslness. Then
all the banks that loan, money com
mercially wcnld have similar char
ters, granted undtfr, the same, laws
.and- by the same agency ef the gov
ernment, and all ' would be 'exam
ined by the same agency.' It la not
Just a question of . ecohjmy.. That
is Important enough, but the- bene
fits of tiio change . far transcend
I am, hot discussing 'the central,
bank Idea; orthe -authority of. the'
Federal: Reserve, board ovei1 the 12
regional banks,; I am . considering ,
simply the question of granting
.barters," and- of -examining the
oanas wnicn loan money ra our ciu
itens.' 3-v'r --'i, ',':;---;.;''-'' -f!i"
am strongly' In favor .of 'our
dda) system of government nation
al rnit otata. anil J . would ' leslst -
.strongly .the encroachment 'f- the
iederal, government in the rights,
- J . . .1 A
inncuoos vana mnruiyiuTn ui.
states.' But times and . conditions
change' It Is" no- longer : the ase
that what .-happens to o'ur banks in
Boston 1s' confined, in IU effects.
witnin we state lines 01 iassscn
setts. - 'Yt'YYX ''"".'v. '''--,'-v'.-'
: . ; "Anr ten-veatMold , child . 1 knows
that If a group of bank's, or perhaps
'only one Dig nana, snouia cioe in
Chicago, the'.reverberatlons would
affect -.business harmfully' from
Maine to California. The people of
Oregon have a right to. have, their
national '; government; protect them -from
barm, which may 'tome to'
them through reckless banking 'to
Florida. : , , . ' I V-.. h
"t meet men -who ' oppose this
changet y In defending' stat? rights
they ,ask. me If I Would jhave the
-federal goyernment take everrcpn
duct of the schools also.- It seems
to me that the line, of demarcation '
Is very' clear. .' Of- course I . would
not 'want to Jave the "federal gov
ornment take ever 'he confluct of
the. schools; '- ' . .V flr-YYY
"Suppose anything-'! imaginable
that might happen In 'the schools
of my city, of Bostona.- strike -of
the pupllst or tlie Inclusion of some,
debatable subject In the cun 'urn.
Or whatnot How could thin pos
sibly affect 'the people! oft Ken
tucky?. Or Tojms? . '
'.'But If, two or three big1 bai! a
in Boston -failed, .every ..bank in
those states, and every other, si -i s,
would be 'affected, seriously,--and et
once. -And j e f 'ires nil 'la
d-ie -ent.lre'y t 1 rf1 -K tor, t
li it fv.i (i "1 i-Mim' c
of t'i"-e t i I ' .'!
I 1; ' t ' ' '
wt t- i h .n '-a
Ij le- ; i:l
1 1 a r t i ,, t (-3
to I; Jive t -3 1 -i y t - ; 1 1
1 l i i-rvn I. ,. id o r 11 re
g'omj baiit.s nia-ld a l i t d -ul
stronger. - '"''-
The fact fs the aim of t' f- ad-'
mlnLMillon Is not ver C "t
fiom t: e purpose of tl.e ! .a
tor Ncl.-n W. Aldrlch of . ( I
land, Vi hose . central 1 ban's . rLuilies
were actually the Basis of .Use fed
eral reserve system.-. .'. r. ',(
' "When the Democrats came Into'
'power in -1913- they rewrote the
Aldrlch blll'glvlng .him as little
credit as . possible.' ' They did not
change the fundamental features
very much, hut fa several .spectacu
lar details they varied it One of
the most Important details. In' the
minds of "the Democratic framers,'
including. Senator Carter Glass, then
chairman of the . house banking and
currency committee, and' Senator
Robert . L. Owen of . Oklahoma, then ,
chairman of the senate committee
of the same name, was that Instead of,
d'ne central reserve bahk they made
12. -" ; . ". - :Y;':Y-:-: "
X Carrying their ldea'-of-4ecentrak'
ization .es far as possible, they gave
a degree of independence, to; these
-12 regional reserve banks, 'which
has often irked the federal board
since, and for thatmatter, various
Presidents, ' who found themselves
unable to control the policies of the
Individual- reserve banks as much
as they -would have liked.,' ; -:
Dearlng In. mind 'tnat one; of the
objects of the new system was to
get the financial control of the coun
try away from New Tfork, and down
to Washington, it. la rather .curious
that the reserve bank which has
given' Washington the .moist trouble
ever since , has been the New York
bank.. Headed t by strong-mtrtded
gentlemen,' who knew 'what they
wanted. -and had firmly fixed notions
of what was -best the New lock
bank; again and again disregarded"
the pleadlngi even, of the federal .
reserve authorities. , , t , t s .
Irks Reserve Board , '
... V I.. -....,, - " . -'
ResevoVboard members still re
member with anger - the stubborn
ness of 'tiie NewTork bank ln ;the
early ; days .of 1029, when the ' re
serve hoard was -doing Jts utmost
to stop' tne sensational rise In prices
oh the- stock exchange,- .This effort
backed by President Hoover, proved
futne .What' would ihavev happened,
if the" New York, bank hadieen un
der the control n the reserve board;
00 onfiTs sure. - But.as good an il
lustration , any other Is that Uie
federal board began trying to hold
down speculation when American'
Telephone was around 225, Where
as the doom gayly continued until'
this stocg toucneo 8i, . -j ,' ; ;,
.' . Many, contend that anything done
at that -time, would have,' been' fu
tile so fftr as' heading Off the crash
Is concerned. But' the -present ad
ministration wants to' be able to
control ' the reserve , banka-to; be
able to give them orders. '
v Thl Is not the. same as the cen
tral bank Ides s,bptft which so much
has been said, and which Secretary
I Morgenthaq has advocated. 60 far
V . , . . , , .... 1 "HuuJ
uiere ia no luuicuuuu.ujav .rivai
dent Roosevelt has been convinced
of -the. necessity of this. On the
contrary.' al' Indications are tiiat he
ts -cot for It ' "
Soldier Cokus ; -
.v The very top figure on which the
administration Is willing' to compromise-
on the soldier, -bonus la
$1,200,000,000. So that the flsht Is
to save sbm'ethlng like $1,000,000,000
nior& -Friends of Prtesldept Roosevelt-say
the sky Is pretty nearly the
limit to which be is, willing to go
In fighting to hold tlie bonus 'figure
at $1,200,000,000, ' :' '
If the bill which should pass con-greas-exceeda
that amount the Pres
ident will veto It, beyond any d;oubt
V The"nex$-Btep,'js not much' In dis
pute among those ' who have can
vassed the situation. The house w.Hl
passy the bonus 'bllt In," whatever
form It mny'be by that time, 'by
more than tiie necessary two-thirds
ninlorlty to enact a measure overt
the. veto. . .
The onlv douht Is 'as to ti e scn
f e. t rleniN of the el a bi e
conn.lent thnt t1 ' v v.i. 1 t
pre.i-nt a -t ,o tl '1 't n f r
a bonus' b' .1 Im r'thi 1 , .J,.
'1 j t
1 f 1 cm-
Ing ! ,
capoclly 1 1
by. those of ' -
ders, snali s 1 1 like,
'The winter ! fthelic
and-Its fast, will 1 r from t
four months while a v -defy
chuck fasts for: -1 ii a - than
'months Without any kind of bV
ment", Y ... '; -; ' .' , ..
YiY j Th Fallen Mighty.' '
- A nob suit oa hlslack, a Sl.C'O '
-deal on his mind and his lunch
his pockef. That's WaU Street tod,-
Stock Market Technique. ',, ,...-'
If You ' Eat StarcIieS'
Ili!3, Swett3 Read TIJs
: TJ.eyM Alt KgummnrJFnOM
-m$Mt Aft Acid Fftming. Y
YY Sttmipch." At Tim. .Eatyw - :
Doctors say that much of tlie so
called "indigestion," from whirh so
many 'of os suiter, is really mid i 1-
; digestion 4 . . brought about by too
'many acid-forming foods in our
. modern diet And that there is now a
way 10 reuevo wis . . voiu;u n
minutes! . .-' : ' .
Simply : take' Phillips' Milk of
Mannesia after' meals.. Almost i n-.
1 meu.aieiy vnis acts 10 neuiruiu '
stomach acidity that brings on y r
trouble. You forget you -tave , a
at Am :.,-h I" : ' '
- ' Tnrthis Inst oneet Ttitf'"" C.a
famular liquid "PHILLIPS' er.
now the convenient nag 1'hii V
'M.'l, f Htnmaia. ToV,lt V-,, I .
. Jure you get Genuine "1'iilLLl- S'".-
ar now on sl at all drug Itona
averywiNTV. cac.ii niny
tablet is t) cquiva- -Imt
of a teaspoonful "
Of. Gnuin Fhiliipa
. ivuia oj Aui0iaia. ,
9 ' smtst
TJ your kidneys faction t''y
X and you have a lame, act. -ne
back, with attud. of dte.
burning, scanty or too fre -it
-urination, getting tip at li. nt,-'
.waIIm, at, -1 .1,1 vlian r,, 11 , ti,'
nunou u , -nil.,,- , .UVMU.1- v-
pains .-. ,.UBe Doan't 1'illt. - -
Do'n' are e i..u..y for po ,!r
functioning khiueys. Million" (
boxes are used -v-)y yenr. lii. '
are reoommei 1 t ,;e country ov?,i.
Ask your. tie . -rf . . ; . '..
To, r r- .- ' 'IP Pi .
"ill I'- I'
t - 1 ., -, ( .
I 1 i
' tttsr-m : J r ! CI-.. " !
Wjnllt t, . - -.