davidaulloa/AmericanStories huggingface dataset:
The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-04-16
MANY DONATIONS

Milan. Italy, April 16--(UP)--
Signor Bocconi. widow OF Senator
Bocconi. announced donations to-
aEy OF 3,000s0 900 lire TO the Com
merciui University founded by her
husband. 100000 lire 10 the Lin
sci Academy, and 100000 lire to
cbarity Institutions.
The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-04-16
GOT STOLEN CAR IN 8 MINUTES

Indianapolis, April 16-(UP)-Patrolmen operat-
ing radio car here claimed local record when they
recovered stolen less than three minutes after its
description had been broadcast Three youths in the
machine were arrested
The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-04-16
BUCKEYE OWNS BLUE CHICK

Canton, O.. April 16-(UP)-W. J. Matthias has a
baby chicken with blue feathers The freak obtained
from flock of 40-aso blue-n Johnstown, Pa. Ma
tha says the proved the feathers not dyed
but naturally were tinted in the blue shade.
The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-04-16
POLICE COLLEGE STARTED

Pittsburg, April 16-lUP)-A ''police college to
be established at the University of Pittsburg to in
struct detectives and patromen in crmnology may be
approved by city council. motion for report the
proposed laboratory approved unanimously.
The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-04-16
SWISS SEEK NATIONAL ANTHEM

Geneva, April 10 UP)-Switzerand is holding a
national plebiscite to obtain official national anthem.
Each canton is voting upon number of different songs
The results will be completed within year.
The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-04-16
LEAP YEAR WEDDINGS SLUMP

Atlanta, Ga, April MISUNDERSTANDING Atlanta
SWANS waiting for their girl friends to take advan
tage of leap year-and in vain. There 81 fewer
marriages here during the first quarter of 1882 than
during the corresponding period last year.
The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-04-16
RAIDED BY AGENTS

Pittock Pa, April 16-(UP)-Prohibitio agents,
raidirg an alleged speakeasy located over Sunday
school room here, reported finding 15-foot bar 900
gallons Of moonshine. One man was arrested
The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-04-16
SUSPECT QUESTIONED

San Pedro, Calf, April. f6--
UP)--John Donncxon, 2S. ahas
Aba Pierce, to-day was questioned
regarding the killing Of Joe NJ.
Alley In sommcrville. Mass
The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1932-04-16

Last Minute News Flashes
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
Irene Castle Winner of
PONY Glass Blue Ribbon

Muncie; Norwood Stables. Toledo. o.; Nor
wood Stables
Hackney. Single PONY in Harness-Mrs.
A {. Thompson, Elmhurst. H.. Reed
Bridgeford Stable: A. c. thompson Roy
NJ. Kennedy & Sons. Taylorville. Ill; Roy
N Kennedy & Sons; My Hobby Stables
Cleveland.
Hackney Saddle Pony-My Hobby stables.
Cleveland; Mary Ballard. west Baden Roy
N. Kennedy. Taylorville; Mereile Hole,
Muncie, Anne Elder. Augusta.
Hackney Ponies. Paris in Harness-Mrs.
A c. Thompson: Reed Bridgeford Stables,
Raw NJ. Kennedy & Sons.
Hackney. Pair Ponies in Tandem-Mrs.
A. c, THOMPSON; Reed Bridgford Stables;
Mrs. A. c. Thompson: S II Lenover. Dan
vile. H.; Roy Kennedy & Sons. Taylor
vile. III.
Saddle Horses. stalon-H. T. Lacy; S.
c. Moore. Kokomo. Ind.
Roeds 9g MaTe-R. Y. Fanery. Kansas,
III G. A. Nichols Stables. Oklahoma City
z. c. .AaRery. Kansas, III; frankie Trim
BIZ
Welsh Ponies Best Stallion state Event
Roy NJ. Kennedy g. Son, Tayloryille
Ill, Roy n. Kennedy.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
Times Readers Get Chance
for Sky Trips at Re-
duCed Cost.

Fair weather and Fair week took
several hundred persons to Hoosier
airport Sunday and Monday to take
advantage of reduced passenger
flight fares being offered during
Times Readers week.
Up to and including next Sun
day, Times readers will be taken
on regular $3.50 passenger hops for
only IS cents and coupon printed
in today's Times.
Airport officials stressed the point
that to obtain the half price fare
it is necessary for passengers to
present the coupon. The same cou-
pom will be accepted for one or
more members of the same family
applying for rides at the same time.
over the weekend, many per-
sons, through misunderstanding,
failed to present coupons for rides,
thus losing advantage of the re-
duced rate.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
MAKEUP OF HOOVER'S
FARLEY HIT BY LABOR
Conference Called One of Big Bust
ness Buccaneers

Conference Called One of Big Bust
ness Buccaneers
By Scripps-HOcard Newspaper Alliance
WASHINGTON, Sept. 6.-Decry-
ing the fact that neither represent
ativeS of labor nor agriculture were
called into President Hoover's last
big business and industrial confer
ence, Labor" weekly publication of
the railway LABOR unions, describes
the presidential parley as one of
buccaneers to make the seas safe
for commerce.
The conference, says Labor" in
the course of its front-page editorial
in the current issue, probably will
be productive of some good, but in
the main it has been a bitter dis
appointment"
The makeup of the (presi-
dentiaD conference is all but in
credible" the article goes on. With
100000 men and women looking
vainly for work, there was no
spokesman for labor. With agri-
culture on-or over-the ragged edge
of bankruptcy, there was no spokes-
man for the farmers. There were
bankers and industrial magnates.
and more bankers, all drawn from
the ranks of big business"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
what else could YOU expect?

What else could you expect? A
politician" from Indiana took sec
ond place 10 a world famous dancer
Monday in the Shetland pony show
at the state fair.
Hoosier Politician, owned by Mary
Ballard of West Baden. had to be
satisfied with the red ribbon, while
Irene Castle, owned by My Hobby
stables of Cleveland, carried off top
honors in the hackney saddle pony
awards.
High Explosion and Charm, two
ponies owned by Mrs A c. Thomp-
son OF Elmhurst. H., won three
first places between them.
The awards.
Saddle Pony ROY NJ Kennedy & sons
TaylorYllles Merrill and Clarence Hole
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
BROADCASTS To
INFORM VOTERS
Radio Discussions Slated on
Political Problems.

All issues of the coming political
campaigns, with highlights of pres
ent day economic and political prob
lens will supply the material for a
sixteen week series of radio broad
casts, beginning tonight at p. m.
central standard time over WIZ
and the NBC network. including
WENR, KDKA and WSM.
The broadcastS, sponsored by the
National Advisory Council on Radio
in Education, will employ nationally
known speakers and authorities in
their different lines to present to
the radio listener an impartial re-
view of modern government and
financial methods.
Issues between the parties will be
discussed in tonights broadcast,
with Prof. Lindsay Rogers, Demo-
crat, of Columbia university; F. NJ.
Davenport, Republican New York,
and Algernon Lee. Socialist, New
York, presenting views of their party
organizations.
Succeeding broadcastS will take
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
PLANS FOR LAUNCHING
HOME BANKS PUSHED
Dual Task Of Opening Subscription
Books, Drafting Charters Faced.

By Scripps-H0Wdrd Newspaper AHidHcc
WASHINGTON, Sept. 6. - The
federal home loan bank board, re-
suming formal sessions today, had
before it the dual task of opening
its subscription books and drafting
charters for the twelve regional dis
count banks.
The five board members, headed
by Chairman Franklin Fort, re-
turned from the convention of the
United States Building and Loan
League at French Lick, Ind, where
the 1900 delegates pledged their
support to the success of the home
loan system.
The nations building and loan as
Sociations, holding some $8,000 000,-
900 in home mortgages, are counted
on to bear a major share of the
practical operation of the home loan
system.
Still hopeful of having the re-
gional banks in full swing by Oct
IS, the board acted to open sub
scription books at once.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
BACK HOME AGAIN

stolen automobiles recovered by police
belong to:
John J. Gillen. ITO west North street.
Ford sedan. found in front Of s47 West
Walnut street
Charles A. Robb. 3049 Gulon road. Ply
mouth sedan, found on Woodland avenue,
south OF Playground.
Austin Anderson. 1882 South Meridian
street. Chevrolet coach. found in front
of 1882 South Meridian street
Charles H Kirtlv. 1888 Northwestern
avenue Marmon sedan. found wrecked at
Sixtieth street and state Road %.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
HOLIDAYS TOLL
OF LIVES HIGH
More Than PIG Fatalities
Are Shown in u. S. Survey.

The toll of lives lost in the United
States during the double Labor day
holiday mounted today to more
than 210 in a United Press survey
covering twenty nine states and the
District of Columbia
Automobiles took the greatest toll
highway accidents accounting for
more than half the total deaths.
Next to motoring, swimming
proved the most dangerous. About
one-fourth the total deaths were
drownings.
The remaining lives, more than
fifty in number, were lost in air.
plane crackups, fires and freakish
accidents
Near Albany, N. Y, camper fell
off a cliff and was killed.
A child was burned to death in
Pennsylvania.
A Colorado man was killed in a
fall off a horse.
In st. Louis man froze to death
when he fell into tank of brine.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
M0OCHER WHO HITS
up JUDGE is FINED

Sheaffer Tells Begging Suspect He's
Seen Him Dressed Like Millionaire
Recognizing a defendant in his
court Monday as the man who
"mooched rs cents from him a few
weeks ago, Municipal Judge William
H. Sheaffer imposed a fine of SIS
and costs Monday on Robert Van
zant, AIT East Court street.
Van zant was arrested Saturday
night on a vagrancy charge, it being
alleged that he was begging on the
streets.
He would not admit in court that
he ever saw Sheaffer, who reminded
him, L saw you several times after
ward, dressed like a millionaire.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
Gone, but Not Forgotten

Automobiles reported to police as stoler
belong to:
Rose Leisure. Largo. Ind. Dodge sedan
from west side of Automobile building a
state foreground.
H s. Ravens Rushville. Ind. Chryslel
sedan. 304-s53, from parking space at STATE
lairground.
Virgil Link. EOS Hiawatha street Ora
Paige sedan. 14-476. FROM Forty
second street north of Playground.
W B Pratt, 1915 Park avenue. Buick
sedan. ll5-629 from Sixteenth street anc
CAPITOL avenue
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
CLIENT AND ATTORNEY
ARE FINED BY SHEAFFEF
Man Injured While Riding on
Bicycle Fares Poorly in Courtroom.

Man Injured While Riding on
Bicycle Fares Poorly in Courtroom.
Client and attorney were fined
Monday by Municipal Judge Will
liam H. Sheaffer.
The client was William V. Weeks.
98. of 1893 East Ohio street. He was
injured slightly Saturday when a BIZ
cycle he was riding was struck by
Greyhound bus driven by Leonard
HOrner, Dayton, o. Weeks was
fined IS and costs for failure to
have a license for the bicycle.
Harrison White, so. of 1910 East
Ohio street, was fined $25 and costs,
the fine being suspended, for inter
fering with an officer
Edward Griffin, patrolman, who
investigated at the scene of the ac-
cident, said White refused to deSist
from efforts to investigate on his
own account. White said he sought
to obtain details because Weeks is
his neighbor.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
Democrats to Hear Keynotcr

BIZ tHHcd Press
FRANKFORT, Ind, Sept. g.
Clarence Manion, Notre Dame uni
versity law professor and keynoter
at the recent Democratic state con-
vention. will be the principal speak
er at a Democratic rally here
Wednesday evening.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
PAGE 5

up topics such as: What Can Gov
eminent Do to Prevent and Re-
leive Unemployment" How Can
Government Provide Greater Secur-
ity in Our Economic System?" Why
Vote?" "Reorganizing County Gov
eminent" and Revising Our State
and Local Tax System
These broadcasts viii be heard
each Tuesday evening at s o'clock
central standard time beginning
tonight and running until Tuesday,
Dec. q.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
u. S. SUPREME COURT
TO RULE ON RUM ROW
How Far at Sea Coast Guard May
Seize Liquor Cargo Is Issue.

Seize Liquor Cargo Is Issue.
By Scripps- II oicdrd Newspaper Alliance
WASHINGTON, Sept. 6.-The
supreme court, which convenes early
in October, has been called on to
decide whether the coast guard can
search British liquor ships and con-
6scate their cargoes twelve miles
out, as specified by the tariff law,
or "one hours steaming distance, -
as specified by the British rum
treaty.
This conflict between law and
treaty, which may have vital
bearing through the operations off
Rum Row on this country's liquor
supply. has been presented to the
court by Frank Cook, master Of the
British steamer Mazel Tov.
Cooks ship. with a considerable
cargo of liquor out of the French
island of St. Pierre, was seized
eleven and one-half miles off the
coast of Massachusetts.
Cook has appealed from a circuit
court of appeals ruling.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
SHOE DEMAND GROWS
Brown Company at Vincennes
Speeds Up Production.

BIZ THjtcd Press
VINCENNES, Ind, Sept. 6.-The
high cost of transportation I'M
doubtedly has made walking a pleas
ure.
The Brown Shoe Company here
recently announced that the de-
mand for shoes had increased and
production was speeded up from
400 to $500 pairs a day.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
BANDITS DISROBE MAN
Victim Left in Street without Shirt
Shoes and Trousers.

Asa Beck, q. of $50 West Ray
street, is glad it wasn't too cold
when bandits robbed him of $3.50
and a $50 watch at Missouri and
Pearl streets.
Not content with the money and
watch, the bandits took Beck's
shirt, shoes and trousers.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06

Appointment of Charles w.
Goldberg, SGT Highland drive. as
an aid on the staff of Governor
Ruby Laffoon Of Kentucky, with
the rank of colonel, is announced.
Goldberg is secretary treasurer of
the Highway Truck Parts Cor
poration.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
Hundreds Take Air Rides;
Rate Cut With Coupons
Times Readers Week
at HOOsier Airport
Kessler Boulevard and Lafayette
Rn1d

Road
Sept. 3 to 8
This coupon and IS cents is
good for one regular $3.50 pas
senger fight at Hoosier airport.
This coupon will be accepted
for one or more members of the
same family.
Passengers are taken in groups
of two and four.
Positively not good after date
specified.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
CAMP AICN WILL
GO into HIGH
IN NEXT WEEK
important Primaries and
State Conventions Are
on Schedule.
BY MARSHALL M'NEIL
Times stan Writer

WASHINGTON, Sept. 6.-Na-
uonal politics enters its most i'm
portant prediction phase this
week, with primaries and conven-
tons scheduled in east. west and
south, presidential campaigners
getting down to their jobs in ear
nest.
Today, in Nevada, primaries are
scheduled On Wednesday, Senator
Hiram Bingham will know his fate
in the Republican convention in
Connecticut Democrats nominate
there. also, this week.
Wednesday, also, Kentucky Re
publicans will convene and are eX-
pected to nominate Representative
Thatcher to run against Senator
Barley.
Next Monday, Maine votes, with
the eyes Of the nation upon her. A
Governor and three congressman
viii be elected.
Roosevelt to Visit Fair
Early next week, also Governor
Roosevelt get started on his cross
country speaking tour and Repub-
lean spellbinders will be busy in
numerous sections. Roosevelt at
tends the Vermont state fair at
Rutland Wednesday.
This calendar of political events
Won, of,,JoV If Tho month
shows where political interest will
lie:
Sept Wyoming, where
Democrats and Republicans meet on
Friday and Saturday, respectively,
to plan the November campaign.
Sept. 12-Maine state election. AS
she goes, the nation mayor may
not-go.
Sept. 13-Arizona where Senator
Hayden DemJ is assured Of re-
nomination.
Colorado, primaries of both
'arties.
Huey Long in Battle
Louisiana. where Senator Brous-
sard Dem) will feel the wrath of
"Kingfish' Huey Long, whom he
has combated for years.
Michigan where neither senator
is up, interest centering chiefly in
congressional and state races.
New Hampshire, where sharp
tOngued Senator Moses (Rep0 is up
for denomination, with no opponent.
Texas, where the state Democra-
tic executive committee will canvass
the close race between Ma" Fergu-
son and her opponent, Governor
Ross Sterling.
South Carolina, where Senator
(Cotton) Smith is battling in a run
off with Cooley" BleaSe, whose Serv-
ice in the senate was marked chiefly
by his numerous condemnations of
vice and crime conditions in Wash
ingtOn.
Bitter Fight in Georgia
Sept 14.-Georgia, where Repre-
sentative Charles Crisp is fighting
tooth and nail to win the Demo-
cratic senatorial nomination from
young Governor Russell. The power
issue predominates.
Delaware, the Dupont principal
ity' has a Republican convention.
The Democratic ore is on Sept. 81.
Sept. 20. - Massachusetts. pri-
maries.
New York, where conventions with
Senator Robert F. Wagner Dem)
and the gubernatorial contest are
the chief points of nation interest.
Wisconsin, with the LaFollettes
fighting the battle of their lives
against conservatives, led by former
Governor Kohler
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-09-06
Man. 10. Killed hx Auto

BU Jnlfcd Press
HUNTINGTON. Sept. s. - John
Frey, 70, Terre Haute. was killed
when struck by an automobile on
United State Road %, near here.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-07-26

Since the death of the late
President, Mrs. Roosevelt has lived
quietly when at home, although
she has travelled extensively.
Her days follow a simple Sched-
ule. She keeps her hand on the
household management of her
home, plans for guests, and gives
orders, every morning. Then she
goes for long walk over her es-
tate.
Rolling green lawns and mead
ows sweep away from the wide,
spacious house. down to forest
that acts as a border for the
estate. The first floor of the house
itself is fashioned of red brick,
the second from white wood, and
the shutters are white.
Entertaining guests takes much
of Mrs. Roosevelt's time. The
house usually is filled. A large
percentage of them are children,
for her grandchildren spend much
of their time there.
She tells them stories and orders
their favorite buildings and cakes
just as any grandmother might do.
At night she takes another walk.
She has spent much time travel
ing in South America, Central
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-07-26

her chauffeur gets the mall"
others will tell you. She smiles
and speaks to all of us. She's a
real lady!"
Even the brakemen on the Long
Island trains know her, and watch
for her occasional trips to New
York.
She always knits the whole
way into the CITY," they say. "She
is quiet and friendly and every one
likes her, but of course she is the
widow of a PRESIDENT"
Mrs. Roosevelt was Edith Ker-
nit CaroW before her marriage.
She had known Theodore Roose-
veit when they were children.
When he married another girl,
he wrote to her in London, where
she then lived, and told her. Two
years after the death of his first
wife, he went to London, married
Edith Carow, and brought her
back to Sycamore Hill.
CHE made an ideal companion.
~ She rode and hiked with her
husband, and entered into. all his
interests.
There are five living Roosevelt
children. Quentin, an aviator,
was killed in the World war.
Theodore now is Governor of the
Philippine Islands.
The other three have homes at
Oyster Bay. Kermit lives at Cove
Neck, Archibald at Cold Spring
Harbor, and Ethel, now Mrs. Rich
ard Derby, in the Oyster Bay vii
lage.
Alice Roosevelt Longworth, the
widow of Nicholas LongWorth,
former speaker of the house, who
Is step daughter of Mrs. Roose-
velt, lives in Washington.
Several times week Mrs.
Roosevelt goes w another hill, on
the road to town, and stands be-
fore the grave of her husband.
A simple slab marks the grave,
which rests in small plot of land
enclosed in an iron fence. Lilies
ana Shubbery grow around it.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-07-26
HOOVER BUTTONS AND
BADGES GALORE BOB UP
White House Looks Like Night
Before Christmas.

White House Looks Like Night
Before Christmas.
By Scripps-HotrGrd Newspaper AlliaHc,
WASHINGTON, July 26.-It
looks like the night before Christ
mas around the White House these
days.
The famous secretariat is prepar-
ing to decorate President Hoover's
tree for the campaign.
Political paraphernalia, includ-
ing idealized pictures of the Presi-
dent, sample buttons and badges
automobile license plates and eulog-
istic slogans, are strewn all over
the place. Despite lack of funds,
there will be plenty of spangles and
ballyhoo.
News photographers stationed at
the White House have been asked
to dig up pictures which portray
Hoover in a favorable light. Those
in which he appears alongside chill
dren or dogs are preferred.
A formal order for q newspaper
photograph of Mrs. Hoover opening
the Presidents school for Virginia
moutain children has been placed
by James F. West, publicity man fol-
the national committee.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-07-26
BANKS IN RUSH
TO Get IN ON
new CURRENCY
Applications From Every
Part of Nation Seeking
R. F. C. Loans.

By United Press
WASHINGTON, July 26.-Na
tional banks, states and cities jointed
today in gold rush" for nav
currency and loans from the govern
ment.
National Banks in every section
deluged the treasury with inquiries
and informal applications for
authority to issue new currency
under the $1,000, 100000 expansion
provision of the home loan act.
The reconstruction Finance Cor
poration received countless requests
for loans from the $2,122, 0OO, 900 I'M
employment relief fund.
Gardner Cowles, a director of the
corporation, informed President
Hoover that half the states were
seeking advances, adding that
Illinois would be one of the first to
receive aid.
Treasury Raises Funds
The treasury found not the
slightest difficulty in raising funds to
give the corporation a start on its
new work.
An offering of $4,000 900 in treas
ury notes put on sale Monday morn
ing was over subscribed before
night About $4OOO0O,0OO of the
proceeds will be placed at the dis
posal of the Reconstruction corpora
ton.
Applications for new currency
came from powerful national banks
in industrial sections, small institu-
lions in the far west, and great
banks in the national capital.
The treasury declined to make
public the exact amount of new
currency requested. But it was
learned that approximately 100000
will go to Washington Cd. c.
banks alone. These orders were I'M
derstood to be in the process of
completion.
Reduce Debts Volume
Under terms of the law, any ma
tional bank may deposit eligible gov
eminent bonds with the United
States treasurer who will issue an
equal amount of currency to the
banks. The banks will continue to
collect the interest on the bonds.
The eligible bonds bear interest up
to 33s per cent annually, represent
ing a substantial net profit for the
banks concerned.
Some treasury officials hold that
the new currency will not result in
actual expansion of the volume of
money in circulation. They be-
lieve the new money will be used
largely to pay off national bank
debts to the Federal Reserve banks.
BY reducing the volume Of debts,
an additional amount of working
capital will be made available, lead
ing to possible expansion of COM
mercial loans and helping break the
credit lam