Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1932-07-01

principal inveted and interests of sell

principal inveted and interests of sell
ers.
, Regulation to the full extent of the
federal power of
CAY Holding companies which sell
securities in interstate commerce.
(B) Rates of utility companies OPP
Grating across state lines.
(C) Exchanges trading in securi-
ties and commodities.
II. Quicker methods Of realizing on
assets for the relief of depositors of
suspended banks and a more rigid SUI
pervision of national banks for the
protection of depositors and the pre-
vention of the use Of their moneys in
speculation to the detriment of local
credits.
The severance of affiliated securities
companies and the divorce OF the in
vestment banking from commercial
banks; and further restriction of fed
eral reserve banks in permitting the
Use of federal reserve facilities for spec
ulative purposes. .
II. The full measure of justice and
generosity for all war veterans who
have suffered disability or disease caus-
ed by or resulting from actual service
in time of war, and for their depend
entS.
FOREIGN POLICY.
-. A firm foreign policy includ-
ing: peace with all the world and the
settlement of international disputes by
arbitration; no interference in the in
ternational affairs of other nations;
the sanctity of treaties, and the main
tenance of good faith and of good will
in financial obligations; adherence tc
the world court with the pending res
ervations; the pact of Paris abolishine
war as an instrument of national pol
icy, to be made effective by provisions
for consultation and conference II
case of threatened violation of treaties
international agreement for reduction
of ornaments; and cooperation with
nations of the western hemisphere te
maintain the spirit of the Monroe doc,
trine.
We oppose cancellation o fthe debt
owing to the U. S. by foreign nations
IA. independence for the Philip
pines; ultimate statehood for Porte
Rico; the employment of American
citizens in the operation of the Pana
ma Canal.
IS. Simplification of legal proceed
ure and reorganization of the judicia
system to make the attainment of just
ice speedy, certain and at less cost.
16. Continuous publicity of politi
cal contributions and expenditures
strengthening of the corrupt practice
act, and severe penalties for misap
preparation of campaign funds.
We condemn:
l. The improper and excessive us
of money in political activities.
2. Paid Hobbies of special interest
to influence members of congress ant
other public servants by personal con
tact.
3. Action and utterances of hig]
public officials designed to ~influenc
stock exchange prices.
4. The open and covert resistanc
of administrative officials to every eff
fort made by congressional commit
tees to curtail the extravagant expen
ditures of the government, and to re
woke improvident subsidies granted tt
favored interests.
$. The extravaganza of the farm
board, its disastrous action which mad
the government a Spectator in farm
products, and the unsound policy o.
restricting agricultural production tt
the demands of domestic markets.
6. The usurpation of power by tn
state department in assuming to pas
upon foreign securities offered by in
ternational bankers, as a result o:
which billions of dollars in question
able bonds have been sold to the pub
lie upon the implied approval of the
federal government.
7. The Hawley-Smoot tariff law
the prohibitice rates of which have re.
suited in retaliatory action by more
than 40 countries, created information.
al economic hostilities, destroyed inter
national trade, driven our factories in.
to foreign countries, robbed the Am
erican farmer of his foreign market
and increased his cost of production.
Conclusion:-
To accomplish these purposes and tt
recover economic liberty we pledge the
nominees of this convention and ths
best effort of a great party whose
f- +Lo Jo,+a, uyh.cl