The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-12-28

Oh Office because OF the OSWOCI0ClC
sweep, but the two major parties
proved that they could survive after
three years Of deep depression with
out competition from new political
movement.
The 72nd congress, In session Tor
the first half Of the year, dealt with
unprecedented problems in emer-
gency legislation. It passed the big
Hoover program and attended to its
primary duties Of balancing the bud
get-on paper-by new taxation and
economy, bolstering the credit sys-
TEN and strengthening banks and OF
providing some relief for unemploy-
ment.
The tax bill was officially estimate
ed to yield an additional $1,1l8, 000,-
600 but it Is falling far below that.
Actual economies amounted to about
$150,OO0,0 900, although this fiscal
years appropriations were $7S0, 000,-
600 below those Of 1882.
ECONOMIC MEASURES
The Reconstruction Finance Cor
poration was created to bolster banks,
railroads and insurance companies.
It was first authorized to lend up
to $4,000 DOC, 900, then allowed 81 $780,
100000 to lend for self-liquidating
public works and $500, 900 900 which 1t
might lend to states and cities for
unemployment relief.
Congress also authorized 1926 ,000,-
600 for emergency public works and
extended facilities for farm credit. It
passed the Glass-Steagall bill LIBERAL
izing the gold reserve provisions of
the federal reserve act and the Nor
ris-LaG uardia anti-injunction bill.
long sought by organized labor. It
passed the Norris lame duck amend
ment bringing each new congress In
to session two months after its elec-
ton. The house passed q bill to cash
the soldiers bonus and the senate
vetoed it.
Meanwhile, President Hoover had
proposed a one-third reduction In
ornaments to the Geneva disarma-
ment conference and had appointed
Judge Benjamin N. Cardozo to sue
coed Justice Oliver Wendell Holmes
on the supreme court.
THE PARTIES NOMINATE
Hoover was renominated at Chi
cago in June without fuss. The only
memorable incident Of the conven-
ton was the wet-dry fight between
the repealists and the resubmission.
lists. A majority Of the delegates
favored repeal, but the Hoover steam
roller jammed through q compromise
'state protection" plank.
Franklin D. Roosevelt had been
edging nearer the Democratic NOM
ination since his overwhelming re-
election as governor Of New York in
1880. A dramatic personal struggle
developed when his old friend Al
Smith, incensed at something or
other, branded him as q "demago-
gue," and finally went to the Demo-
cratic convention at Chicago In q
desperate attempt to defeat him.
Roosevelt had gathered In most Of
the southern and western delegates
with the conspicuous exception Of the
Garner delegations from Texas and
California. He was close to the re-
quired two-thirds majority-770. The
chorus Of his enemies was that
Roosevelt can't be elected" In the
first test Of strength the Roosevelt
forces elected Senator Thomas ].
Walsh as permanent chairman over
the Smith-supported Jouett Shouse.
Roosevelt leaders started q move to
abolish the two-thirds rule, but re-
treated hastily.
Manager James A. Farley kept the
convention up all night to cast three
ballots, at the end Of which Roose-
welt had but $50. Next day Farley
won over the Texas and California
delegations. VIM. q. McAdoo made
q spectacular announcement Of the
Texas-Catfornia switch, taking sweet
vengeance on his old foe. al Smith.
who had sought the nomination for
himself.
The convention adopted naked
repeal" and Immediate beer planks
and nominated Speaker John N.
Garner for vice president.
Roosevelt leaped into the campaign
by flying to Chicago and making his
acceptance speech on the spot. He
seemed to keep the Jump on Hoover
throughout the campaign.
THE NATION CHOOSES
On July 20 Hoover called federal
troops who tear-gassed and drove
the 5000 veterans Of the ''bonus
army" out OF Washington. That &C.
ton stands 90 one Of the most Sc
rious political blunders Of all time.
BY 1t the president sent 5000 pro-
pagandists. violently embittered. out
to campaign against him. Whatever
its appeal to the conservative, pro-
pertied classes, the incident enraged
countless veterans and poorer citi-
zsns. It Is guessed BY political OBJ