Show H PE I 1 N H H I 1 M TREASURY department PLANS WOULD READJUST CURREN T STRUCTURE OF NATION by EDWARD W PICKARD Q western newspaper union OF 01 THE TREASURY SECRETARY revealed plans to dip into profits from gold seizure to retire of the national debt through the use of gold certificates potentially tent ally lally inflationary it will deprive national a banks of the power to issue currency and 1 save the government an an annual n u a I 1 In interest teresi charge of Ques questions tiong on inflationary implications word were avoided by treasury officials but they ad secretary bitted the plan would thau put p gold gg back to work which can be expanded the maneuver will place in the hands of the federal reserve banks of gold certificates which must be used as backing for issue of the same sum in federal reserve notes to retire the bonds note issue against the bonds could be expanded if cur car rency demands warranted to since a federal reserve note need not be backed by more than 40 per cent gold or gold in like percentage what will happen will be the immediate simplification of our currency system the treasury and federal reserve banks will have all the authority to issue money the plan involves retirement on august I 1 of 1563 30 of 2 per cent federal securities and substitution of fI fiertl eral reserve notes for of 0 outstanding national bank currency these bonds will be retired with ith surplus funds created by devaluing deva liin the roosevelt 1 ioos evelt dollar from rents cents to I 1 rog G cents gold the total profit was national bank notes issued by national banks against federal securities represent more than one tenth of the th nations circulating currency the administrations program likely means the permanent abandonment of the national bank note has been used since the civil war the circulation privileges expire on all bonds deposited by banks and held in trust by the treasury on july 22 1935 1035 except on two issues by calling for redemption the tren treasury sury will retire all securities bearing circulation privilege and and national banks will nill no longer have suitable security for issuance of their own notes scuba H 13 mendieta administration in cuba has established a military dictatorship over the island constitutional law has been suspended the death penalty for rebels imposed and military governors designated for havana and provinces washington is watching the situation with keen interest bombings and rioting are in creasing according to reports with ten dead and fifteen injured the objectives jec tives of the opponents of the government is the removal from office of president Mend mendieta leta and colonel fulgencio batista chief of the army the strike has become almost general nearly paralyzing all activities in the island repressive measures taken by the government to quell the strikers strongly resemble the strong arm methods prevalent in the machado regime according to observers observe rs T atie senate passed the army apar appropriation ofle pria tion mil hill and it now dow goes to the house the measure adds to the original bill mak making ng the total appropriation of a almost a record high and will v ill add ag to our army strength makin making the total of enlisted men irm warm talk flowed freely as the senate debated the measure senator lewis r said a id that conflict might come between russia and japan and he allied with the army of russia and the navy of japan where do we stand senator mcadoo also speaking in favor of the bill said unless we want to continue to be a boob nation we ve will aili not cot hesitate to make this increase in the army it Is justified by the wisdom and the necessities of national nal defense birre illinois farmers refused to atell THREE tell the government census takers how much their farms were worth and how bow heavily were mortgaged claiming such information was none of the governments business the trio were arrested and held for a grand jury charged with violating the census act bagain TUB 1113 relief bill was again r turned returned to the senate marked rush I 1 there was no rush reports were that enough senators who had voted for the prevailing wage clause had been won ion over to the administration aless to insure passage but the bill as revised by the committee did not come up senator longs one man filibuster the army bill and other matters claimed the attention of the aukust august senators and the tha fight was delayed harry fl federal relief administrator bald baid 20 persons were on relief but expressed the belief beher that employment was increasing ile he explained the apparent discrepancy by adding that many persons persona who had bad hitherto taken care of them have finally exhausted their resources rt As the reller relief measure faced the start of its sixth week of debate lon long threatened fresh delays by trying to force a senate test of his proposed investigation of parley farley and administration lenders leaders prepared to resort to drastic measures it if the king kingfish fish attempts to hold the floor by trying try lug his case in the senate after the adverse committee report senator glass class chairman of the appropriations committee Is prepared to ask tor for early action on Ws his amendment to the senate rules to prohibit a senator from talking on extraneous matters while an appropriation bill Is 13 pending A A FTER twenty months of bar raining gaining the documents conveying full title to the chinese eastern railway to Manchu kuo were initialed in tokyo thus eliminating russia ns as a factor in Manchu kuo the written approval of the agreements was its signed by cokl hirota japanese foreign minister dr constantine Constant lne 9 soviet 0 ambassador to japan and by gen ting shin yuan yua minister of finance the consideration was wag yen or about 39 1 the documents require that all three governments approve them before their formal signing about march 23 thus Is ended forty years of russo japanese contention for domination ANEW NEW gold suit Is menacing administration Al financing and money policies the suit reopening ren pening the question of 0 investors claims tor for payment of 1800 million dollars of government bonds in gold or an equivalent Is brought by robert A taft son eon of the late chief justice over the sum of taft demands either payment of bonds in gold or suspension of nil fill refunding ot of the gold clause certificates before going to court taft presented to the treasury a 50 gold clause liberty bond and tour lour interest coupons attached ta clied and demanded gold for both but was refused the suit may force the administration to close the loopholes left by the supreme court decisions ci if that Is possible T THAT HAT ancient repol repository tory of dignity the senate has ben treated to an exhibition of personalities vituperation pe ration barely avoided fi e encounters and general uproar 1 1 IF pa A centering about senator long that ah should set a record for even that august body goaded into action by the almost dally tirades or of lou lon q I 1 Is lanas kingfish King Bsh majority leader joe robinson of arkansas arose white with rage and let loose a castl senator gatlon gation designed to robinson blast the irrepressible long into submission robinson appealed to the senate to assert itself and put long whom he called a madman in his place vice president garner garder and more than a d dozen ozen senators shook hands with robinson when he be closed and galleries applauded until the chair threatened to clear them it had no perceptible effect on long other than to cause him to rush back to the senate chamber and renew his attack on robinson the next day huey precipitated an other verbal free for all when he resumed his one man campaign against postmaster general parley farley and the new deal in general long charged that farley was instrumental in quashing an indictment against a bank in which norman davis darts ambassador fit at largo large was interested for his trouble kingfish received a liberal supply of ridicule he also sent to the senate post office committee a letter in which the accusation was mada that farley Is profiting from 25 business concerns in new york city involving violation of four criminal statutes when questioned parley farley said he had no statement to make longs uncomplimentary remarks about farley generally came to naught as the post offices and post roads committee blocked the kingfish boldan holding that he be had not produced facts or evidence constituting a proper case for investigation T THE HE bill to repeal the pink slip publicity provision of the 1034 1934 income tax law passed the house by a large majority of to 98 the resolution apparently will win in the senate where a poll has shown it will be adopted by a close vote sentiment for repeal of the snooper clause has been growing and there Is no indication that the president will oppose the measure HE greek revolt has been crushed T THE according to government reports and preparations are being made for an attack on the island of crete held by former premier venizelos leader of t the he insurrection general kondylas in charge of army operations in macedonia was reported returning to athens after routing the rebels from their principal strongholds strong holds in macedonia it has been indicated indi caled that has accepted defeat in macedonia and thrace and sill proclaim crete a separate state band BY Y A vote of 23 to I 1 the house ways and means committee approved the vinson bonus bill and gave the rival patman bill a possible edge the committee instructed chairman doughton to ask a wide open rule permitting in to move the patman mells use as a substitute on the floor patman supporters claim the house will pass the first bonus bill brought up but conservatives are working to jockey the printing press money measure out of preferred position tile the vin son bill la Is favored by the american legion OLIVER WENDELL HOLMES jur scholar soldier and g gentleman e Is dead two days before I 1 ills il s etli ilnia tj fourth birthday the beloved great dissenter succumbed to the ravages ot of the next dav in the somber supreme court chamber the court led by chief justice hughes paid tribute to the alic man whose career he said had been one ot of unique distinction justice bev hughes II voice choked oliver w ashe as he spoke the grind of legislation and the holmes disputes of 0 the flay day were forgotten in congress as both house and senate paused while glow glowing fil words were said in memory of the retired justice funeral services were held in washington attended by the president and mrs roosevelt and members of the supreme court after the ceremony holmes was ghen eh en military burial in arlington national cemetery as befitted one who ho had served his nation so gallantly justice holmes was born in boston the son of the noted american poet of the same name tie ile entered IIa Ila ivard and was in his senior year when nhen the civil war begin began lie ile enlisted as is a lieutenant was promoted to a captaincy and retired with the rank ot of colonel ile he was wounded three times after the war lie he returned to school and obtained his law degree in issa holmes was elevated to the supreme court of massachusetts and in 1902 president roosevelt appointed him t to the united states supreme court on october 4 1923 when lie was eighty seven years old he became the oldest man ever to sit on OB the bench of the supreme court ne he retired in january 19 1032 12 administration leaders leader have shave SENATE decided to virtually abolish when it expires in june and set up in its place a plan of self government in business eliminating present coercive measures and giving over administrative istra tive functions of the new program to the federal trade commission thus would end one of the administrations most spectacular and far reaching experiments peri perl ments in its general form the plan calls tor for permission to loin join in voluntary codes regulating trade practices and ellmIna eliminating ting unfair competition price fixing will be outlawed business and industry will agree to mint minimum wages and maximum hours and only when these standards are violated can the government apply compulsory codes at the same time united states district judge IV G borah in new orleans denied a government petition to compel a box bos manufacturer to comply with the maximum hour and minimum wage provisions of the lumber code I 1 ru ruling ling that the national industrial r recovery e act Is unconstitutional the ruling Is expected to bring before the united states supreme court the constitutionality of the interstate commerce clause of the lumber code KOKI HIROTA japanese foreign minister sees in the dispute over settlement of japanese farmers in arizona a spark which may ignite flames ot of discontent and cause causa regrettable consequences consequent es between japan and the united states he told the lower house of the japanese diet he expressed extreme regret that american authorities had riot cot been able to settle the matter and said he was pressing bressin 9 for an early solution exclusion ot of the japanese has been asked und under er the alien land ownership law and it Is probable that no fundamental solution can be arrived at until the exclusion clu slon clause of the immigration a act ct which has been hanging fire since 1924 has been settled SCLAY Q CLAY WILLIAMS head ol of the tendered his resignation to the president starting what Is expected to be a wholesale house housecleaning cleaning of the recovery administrations high command chairman williams explained his action by saying that he had to return to his bis job as head ot of one of the count rys largest tobacco companies three of the four remaining members of the board arthur D whiteside walton hamilton and sidney hillman nill man are known to have their resignations ready rumors say that the president will not fill the vacancies but will return the to a one man command ONEY markets of the world reacted M MONET violently after president roosevelt declared his administration would seek further jacking up of commodity prices stocks rallied in now new york government bonds sagged and the falling british pound rose four cents the president hurriedly issued another statement explaining that his advocacy of higher prices did not mean further devaluation of the dollar at least not tor for the present the first statement was made by the president at a press conference when he was asked if he be bellei hel ed prices had nowr now risen lsen sufficiently to warrant stabilization he replied that they had riot not that they were still too low in relation to debts I 1 ITALIAN government officials state that nearly 1000 aviators aud and several squadrons of planes have sailed for east africa and that a second wave of troops has been started to join the already massed in so ma malllard mal lland liland general graziana Graz lana has been named governor of Soma So maUland liland and commander of the troops D demonstrators l numbering approximately 2000 marched map hed into the minnesota state capitol at st SL paul and harangued legislators with demands in behalf of the idle ranks threats were made to picket the capitol unless demands were met |