Evening star., 1932-05-03
BONUS PROPOSAL
HEARINGS CLOSED
House Committee Will Begin
Consideration of New
Money Plan Thursday.
Continued From First Page.)

brought on Legion posts to prevent
them from favoring cash redemption of
the bonus certificates.
II do not see how any one consistently
can vote for the Goldsborough stabiliza-
tion bill and then vote against this
plan," Patman said.
The House passed the Goldsborough
bill to stabilize prices by vote of 289
to so.
Patman Hits at Experts.
Patman said the same experts who
have had charge of our financial and
economic systems the past few years
have appeared against this bill"
"The fact that our country is in the
condition it is in is the best evidence
that they are not capable of giving
sound advice or that they have not
acted upon sound advice" he said.
Patman suggested a change in his bill
for paying the certificates in Treasury
notes, so that 20-year, 315 per cent
bonds would be issued.
These bonds could then be sold to
control the expansion which the oppo-
nents have attacked as dangerous, +"
Patman said
"Mr. Mills" the Texan said, "has
charged the proponents of this meas
ure and all who are supporting it with
attempting to make a raid upon the
! Treasury; that we have dishonest de-
vice, which, Of course, can only be
conceived by dishonest people.
Such charge comes with poor
grace from Mr.. Mills, the Secretary of
| the Treasury.
Makes Counter Charge.
eff we are attempting to raid the
Treasury, which we deny, we are doing
it In the broad daylight by laying all
of our cards on the table face up and
by getting legislative, approval backed
by public support, after all the facts
are known.
LET US see If the Secretary of the
Treasury has been as frank and honest
as We have been"
Patman said not one of the committee
knew what he disclosed "or the tax bill
form that 1t did"
"Mr. Mills" he continued, was con-
stantly advising with the committee
during the consideration of the recent
tax measure. Not only was he person.
ally and in an official capacity exert
ing influence with the committee, but
he also had his personal attorney per-
mltted to appear In secret executive
sessions of the committee"
Rankin Takes Stand.
Representative Rankin, Democrat,
Mississippi, followed Patman on the
stand, drawing applause with the state
ment:
Though a radical Southerner, I
should be glad if we could swap Mr.
Mills for Abraham Lincoln"
Crisp warned the spectators who
crowded the room that applause was in
violation Of the rules but had to repeat
the warning almost Immediately when
Rankin said:
Il want to stop this depression, for
which Mr.. Ogden Mills is as much re-
responsible as any man on earth"
Robert L. Owen of Oklahoma. a for
mer chairman of the Senate Banking
Committee, said the Patman amend
ment to the new-money bill for a de-
posit OF Government bonds to be sold
II the purchasing power of the dollar
fell too low, answered the objections
OF Mills and Meyer, TO an uncontrolled
currency expansion.
Owen said the payment Of adjusted
compensation in cash would raise COM
modify values above the cost of produc-
tion and give reasonable profit, en-
couraging production and employrasnt
and restoring normal industry and
commercial activity