Evening star., 1933-04-28

deposits and only through such pro-
e:sm will you ever get such money
out of boarding.
$4,000, ,0O9. 900 Tied Up.
I'VE have $4,000 OOOO tied up il:
Cloesd b7nHs in this country. Cne oi
tn most ehective ways to promote in
Ilation rculd be for the Government i
take care OF these dcpositors.
IN view oi the LXctr ence OF tn,
people in thc last few months. VIVA
lient has the GuNernm mt TO ask til;
frugal ci,.Zen who may h.Ve put mCntl
in his sock to remove IL and put it II
banks where there Is no 2vcurity!
AS lar IS l am concerned. II l t.tG
$4,000 in eoli I'd dely the Go,ernmen
to come ana s i it.
Senator Jonn-o.I. CapU b!.c-n. Of Cali
fCrnia as.;Cd P1rah il h, thought ,hS
Gcvelnmcn had the power to Say
whether gold ought to be Gcpo-ited II
o bank.
Bcrah. indicating he Goubted it had
answered:
Il thin. We ere proceeding on bluff
end that we have no power il thf
world except that the people fear i
ccme in contact with tn, power OF th>
Government"
Scna:o.. CJstigan. Democrat. Of Colo
rado. tGGcd Borah ii Il" faVor'd ,hI
20 guar Iani e of all bank deposits, whether
the bank IS sound or not
During this emergency would favor
q guarantee OF deposits" BOrah an
swered L do not know whether
would favor 1t as permanent policy
] favor 1t now because the people don't
know whether a bank Is sound or not.
Senator Dill. Democrat, of Washing
Son. agreed with Borah's argument, Dut
taid the postal savings system should
be opened up to small checking ac-
counts as provided in his pending bill
Bonus Farley Slated.
Meanwhile. Speaker Rainey and Rep
resentative Byrns Of Tennesse. HOUSE
Democratic l,adel. plan to discuss with
President RCOs-Trlt the demands o.
many HOUSE Democrats 10: cash pay
ment of the bonus III order to aScerI am
the Chief Executives attitude.
The visit is to be made at the Presl-
dents convenience
The Democratic House leaders told
Representative Patman, Democrat. CT
Texas, leader OF the cash bonus advo-
Gates, they would discuss the proposal
with the President If bonus demands
were withheld for the present.
The bonus advocates yesterday with
drew their plans to force a Democratic
caucus Monday night to await word oi
the Presidents views.
Senate leaders yesterday agreed to
legislation increasing the amount OF Sill
Yer which may b. accepted for war
debt payments from 100000 900 to
5000. 900. 900. and Senator Hayden. DEM
ocrat. OF Arizona. was expected to press
his amsndmcnt for this purpose inme-
dia.ely after the bonus vote today.
A broadside attack on the Roosevelt
imitation plan came yesterday from the
veteran Senator Glass of Virginia who
voted for tie Republican motion to
eliminate the section giving the Presi-
dent power to reduce the dollars gold
content.
A former Secretary OF the Treasury
GlaS; told the Senate that he regretted
opposing the President and his Demo-
cratic colleagues, but said:
I'm simply maintaining the attitude
OF my earnest convictions ON public
questions, which is more important to
me than party or potentate."
Asserting be had written the plank
in the Democratic platform calling for
sound money Glass took the initiation
bill section by section, denounced its
provisions. and criticized especially the
gold embargo. for which he SAID there
never was any necessity.
We are flying right in the face of
human experience" he asserted. This
is unbridled expansion. The rein Is SC
loose the steed will never stop until it
goes over the precipice and kills the
rider"
Veteran rs Act Assailed.
In urging his bonus amendment. the
Indiana Robinson described the economy
bill reducing veterans benefit as cruel
and unjust to the defenders Of the
nation" He took the fiCor after the
vote on the dollar deValuation amend
ment.
That legislation was. is, and will con-
tinue to be indefensib!e from any stand
point" he asserted, adding:
There has been eleven billions addi-
tional deflation since President RCose-
velt took Office. and 1 think one-half
million more men a:e unemployed today
than on March L.
If We propose to undertake this pro-
erem OF initiation. it's one thing to
create money and another TO get 1t cut
into circulation. l hope to see a dis
tributicn of some of this money through
the lana and as directly in Line With
that. I'm offering this bonus amend
ment."
Senator CouZanS. Republican. OF
Mix h:gan took up the fight for tn. in
fationistS earlier in the ate. noon.
Announcing he approved Of the ad-
ministration plan for vest .ng broad dis
cret ionary power in the Pr6sitent to
fincrease credit and currency. If the
?Chief Executive dseLS il necessary, the
Michigan Senator said he was con-
! vinced that within year o, less we
twill be legislating E G !in wi h Iesrect to
this matter.
we have tc-n following dehat;o1afy
policy for three years he said. Mil
: lions Of cur citizens ha e be2n wiped
out and their savingj lost. Under this
ruthless defla ionary poll the savings
of our people are in eater Jeopardy
than ever before, more than II we pass
this bill
Asserting he had no faith in the farm
relief bill b. itself. COu2enS said the
rnly exact justice Is to raise prices and
have it affect all like
Fess Criticiz,s Plan.
Senator Fess of Ohio. essis. ant Re-
publican leader. as allied the whole
plan. Declaring 1t was not the lack OK
money. but the lack OF use of available
money which was holding up business.
F1ss said there was absolutely nothing
behind the proposed new note Issue OF
$4,000. 900 900 and added:
This Government is proposing. like
a highway robber to 90 out In the
open and take away certain amount
OF wealth from the people by legisla-
tive act.
That's dishonest. that's discreditable
that's writing the word pcrfdy' over
the brow of this Government
Senator Hatfield. Republican, of West
Virginia. like FesS. said the way to ex-
psnd the currency was through liberia
use of the Federal Reserve credit. bu'
that this had not been employed De-
cause of business uncertainty.
Senator Walsh. Democrat, OF MaSsa-
r,,IcattS suOpnrtinp imitation. said.