Show news review of current events the world over money bill passes dollar Is devalued secretary perkins proposes federal tax for permanent dole funds polish german peace treaty dy by EDWARD W PICKARD by a large majority to 1 the presidents demands the senate cn passed his new kew deal money bill inserting only a few amendments to which the house readily agreed the administrations trat ions victory was decisive and was preceded by the rejection 3 of two major proposals which were obnoxious to mr roosevelt and his financial advisors the first ot of these provided that control of the 2000 senator glass stabilization fund should be given to a board of five instead of to the secretary of the treasury this was defeated by the votes of 50 democrats three radical republicans and the single farmer labor senator the second amendment offered was put forward by the silver bloc and was beaten only by the assistance of 17 republican senators for 28 democrats were recorded in favor of it and the vote stood 13 to 45 it would have provided for the purchase and of silver the final vote on the measure was CO CG to 23 one lone democrat had the nerve to stand out against the administration and uphold by his vote his convictions although several others had opposed the bill in debate the man who was true to himself was carter glass of virginia secretary of treasury under wilson and coauthor author co of the federal reserve act senator gore core of oklahoma was paired against the measure but did not vote senator mcadoo of california had bad done a lot of opposition talking but quit with that and went into the aye column all of the independent republicans and farmer laborite supported the bill though the money bill has been summarized tum marled before in this column it may be well to state again its main provisions as follows the treasury Is given title to all the nations cat ions monetary gold stocks including held by tb the federal reserve banks the president Is authorized to revalue the dollar at 50 to GO CO per cent of its present statutory gold equivalent coinage of gold Is declared at an end the metal Is to be held in bullion form in ID the treasury as backing tor for paper currency the stabilization fund Is created out of the increased value of the gold accruing as a result of devaluation of the dollar it Is placed in the sole charge of the secretary of the treasury and lie he Is given authority to expend it in virtually any transactions he may deem necessary tor for stabilizing the dollar abroad ACTING under the authority conferred on him by the new money law president roosevelt proceeded to devalue the official dollar to cents by proclaiming a reduction of the dollars gold content from 2 is grains nine tenths fine to 15 5 21 grains rine nine tenths fine at the same time the president announced the government would buy gold at a price of 1 35 5 an ounce the change in the dollars gold content the first to be made in a century will not be immediately appreciable to the general public but it Is the expectation pec tation tatton of the administration that it will bring about a general rise of commodity prices nod and that this will induce an increased volume of business which will enable p producers vers to make more money and therefore to raise wages vs es only time cata caa tell whether this theory Is correct or fal lous shortly after the president signed his bis proclamation the treasury announced that a new form of currency was being prepared by the bureau of engraving to take care of the problems created by transfer of title to all federal era reserve bank got gold to the treasury cold certificates the same size as currency now in circulation will be used instead of the absolute promise to pay in gold carried by gold certificates pr previously issued however these will say 1 this Is to that there Is on deposit in the treasury of the united states of america blank dollars in gold payable to the bearer on demand by law as 9 authorized itUS IDENT ROOSEVEL TS administration P has proposed to congress legislation that would bring the stock and commodity exchanges of the country under the rigid control of the federal government the presidents interdepartmental committee has made ter questions tuest su gest ions for the fedora federal licensing of those markets and the creation of a governmental agency with extraordinary powers to regulate their jhc thc lr operations the banking and currency com of the senate and hoise here these recommendations under consider aton nt on or as a basis for legislation soon to be introduced the interstate commerce committee committe of the house Is working on 01 legislation also proposed by the Inter department at al committee that will make the coun arys communications systems subject to similar regulation by the federal government 0 outstanding UT STANDING in current foreign v news is tile the fact that germany and poland have bare signed a peace pact that Is to endure for ten years the treaty stipulates that during that period under no conditions Is force to be used in relations between these countries the successful negotiation of this pact Is considered a great triumph for joseph lipska polands bolands Po lands minister to germany and tor for foreign minister joseph beck and the jubilant roles poles assert that their nation must now be considered one of the great powers of europe they are especially proud of the way in which they have are blocked the plans of maxim litvinov foreign commissar of russia ft nho ho was trying to combine with poland for a protectorate over the baltic states they appeared to be going along with him but were secretly conducting the negotiations with berun according to european correspondents one reason for germanys germanas Germ anys radical change of policy toward poland Is disinclination to become in any way involved with the problem of austria which is expected there to turn nazi in the near future polish statesmen privately state poland does not oppose the austro gernian german an union they claim once tills Is accomplished the question of obtaining a port on the adriatic sea would become more important to germany than the return of the polish corridor announcement of the polish ger man treaty created a sensation in lithuania latvia and estonia all of which countries have hare quarrels with germany and had been relying on po lands support P PERMANENT dole funds in all the states created mainly by a new federal tax upon all employers Is the latest plan of miss frances perkins secretary of labor ner scheme which la is r rather a t h e r complicated pro provides vades tor for the levying of the tax on the basis of employers pay rolls beginning on july 1 1933 1035 and Z i calls on all state legislatures K isla tures to set up unemployment funds in each common c 0 m m 0 n L wealth the employ er would be gi given 1 en tile the seely perkins choice of payl paying g the full tax or contributing vol voluntarily to the fund in the his state the plan Is being put into the form of a bill to be introduced in congress operating cooperating co with secretary perkins are senator wagner of new york and representative david J lewis of maryland the proposed federal tax bill read the formal announcement will work in such a way as to promote the speedy passage of state unemployment insurance laws the federal bill will not defene what kind of laws the states shall P pass ass wisconsin is the only state 1 which I now has an unemployment insurance law but measures are pending in many other states secretary perkins went to indianapolis where the convention of the united mine workers of america was wag in session and told the men that I 1 the he on only y permanent solution of the unemployment ploT ment problem is shorter borki working in hours the miners in a hot debate denounced communism and re adopted sections of their constitution which bar members of the communist party from union membership FEDERAL FAKEn JUDGE ALEXANDER tt AKERMAN SIAN in tampa fla fia declared tile agricultural adjustment act unconstitutional saying it Is so full of holes you could drive eight yoke of oxen through it ile he issued to a group of citrus growers un an injunction to prevent the state control committee from enforcing orders officials in washington refused to comment on the judges decision STATE directors of the national emergency council met with administrator hugh johnson and were amazed to learn from him that secretary of labor perkins had already appointed many ciany of the labor advisers la in their offices without It hout consulting them nathan straus jr of new york and george creel of california we were reamon among those who questioned the propriety ct orthis course 1 I am not here to discuss tile the wisdom of the matter 1 was the geDe generals rals brusque reply the appointments a already have been made THREE daring russian aeronauts aero ascended in a stratosphere balloon to the record height of feet nc ac cording to their radioed messages ond and then perished ahen their balloon crashed ales miles D southeast of mos blos cow their instruments were de st royed so their chalin cli lii to a new dew record cannot be established H read of speeches in the S M japanese parliament predicting that japanese auxiliary vessels would outrank those of the united states by 1930 and that japan would withdraw from the proposed naval conference of 0 1935 our senators prepared to rush through the vinson naval construction bill which had been passed by the house it calls for expenditures of and over a five year period in order to bring the united states forces up to treaty strength astren lb in tokyo for mer foreign minister proposed to the house of peers that the 1935 conference be abandoned expressing fear that japan would be forced to wreck it ft lie ile and other japanese statesmen however reiterated that there was no conceivable reason for war between their country and the united states minister of war hayashi also denied that japan was making preparations tor for war with russia and said the japanese army in Manchu kuo would not assist in any attempt to extend the boundaries of that state slate russia has a chip on its shoulder and the convention of the all union communist party wildly cheered stalin when he warned everybody not to poke their snouts into the soviet potato patch the dictator added it is a mistake to think an all ambition to wage war against tile the soviet union and share its territory Is held only by japanese military circles we know very well that it Is shared by some political circles in europe tills this last remark it was believed was intended as a reference to germany s of the Und borgh h baby and murder may come as a result of the arrest in chicago of verne sankey former south dakota ran ranchman climan who started on a career as a kidnaper two years ago ile he readily admitted that ho be snatched Clin charles rles boettcher of denver and II lI askell bolin bohn of st paul but denied any connection with the lindbergh tragedy ilow ever the authorities are in possession of various facts and clews cleis which they believe may link him with that case two Illinois ans frank souder and gale were taken to the jollet joliet penitentiary to begin serving life sentences for the of james cackett blackett of blue island indiana authorities were preparing I 1 to try for the murder of a policeman in rast east chicago john dillinger bank robber and desperado who was captured with several of his gang in tucson ariz the outlaw was rushed by airplane to indiana to prevent his extradition to wisconsin where he was wanted tor for robbery AMILLE and his CAMILLE C french ministry last as long as had been expected without waiting for a vote by the chamber of deputies that would oust them the cabinet members all handed thear resignations ig Ignat nations lons to president lebrun being bein unable longer to withstand the storm of attacks resulting from the bayonne bond swindle former president gas ton dommergue Doumer gue was entreated to accept the premiership but refused on the ground that he Is too old to head bead the government in such a critical time herriot and Da ladler both former premiers were the next possibilities but it was feared both had too many political enemies though they are respected and have clean records however Da ladler undertook the job of forming a new government HILE president roosevelt was celebrating his fifty second birthday with relatives and close personal friends in the white house many thousands of his fellow citizens were enjoying parties balls and other entertainments arranged to mark the an these took place in hundreds of cities towns and villages all over the country and the proceeds will be turned over to the warm springs foundation tor for victims of infantile paralysis rhose who attempt to graft on the t ie A bublic works administration are going to have a hard time getting away with nith it according to secretary of the interior ickes addressing the convention of the associated general contractors of america in washington the secretary warned them that collusion on bids foi contracts or materials skimping on materials and doctoring of specifications so as to eliminate campett sec seely y ikes ickes tion would be uncovered by the government agents and punished lie he pointed to the indictment of gov nets kels 0 kraschel krasche of iowa and an associate as a sample of what clients cheats may expect 1 I am not pronouncing judgment in this case said mr ickes if those men now under indictment are inno cent they have nothing to fear it if a jury of their neighbors find then guilty they will pay the penalty there are two points to this story and that Is the reason I 1 have told it to you one Is that the public works administration will pursue any charge of graft or corruption or chiseling chi regardless pard gard less of where the trall trail may lead the other point Is that even an officeholder of high degree does do es not have enough political pull to escape the outstretched band of justice it if he offends against the law criminal il prosecutions in six cases case involving compla tutt of graft in the tha civil works administration were ordered by the division of investigation of the public works administration three of tile the cases are in kentucky 1 one in maryland one in arkansas ana am one in indiana 0 by western newspaper New |