davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1933-10-23
Sharp Market Rally
Follows Roosevelt Speech

NEW YORK, Oct. % I.N.S.)
Speculative markets rose sharply
today following President Roose-
velt's radio address last night.
His revelation of the establish
ment of Government-controlled
gold market sent stocks and COM
moditieS up all along the line, re-
verSing the weakness Of the last
two weeks.
The dollar was weak at the
same time, falling more than a
cent against foreign currencies.
Gold shares set the pace for
the upruSh in stocks. Homestake
mining SCARED nearly 80 points.
The rest Of the market swept for
ward 1 to 6, but lost part of the
gains on profit-taking. Heavy short
covering was responsible for the
opening bulge. Trading was heavy,
blocks running to 5000 shares.
A buying rush in the Chicago
grain pit brought gains running
to more than 3 cents a buShel,
wheat and rye were the pacemak-
ers, with corn and oats close be.
hind. Cotton jumped $1.25 a bale
while other commodities were
strong.
All foreign currencies rose
sharply against the dollar, which
fell to 69.8 cents gold compared
with above 70 cents on Friday.
Sterling scared 9 cents to above
$3.50. Frances spurted II points
to S.63 cents while GuilderS rose
more than a cent.
The Washington times., 1933-10-23
OOAK, EX-LABOR
CHIEF, DIES
(Continucd from Page y

(C0ntinued from Page ~
stated that he was keenly diSap-
pointed in President Hoover's
selection.
Born in Virginia, Doak was
educated in the public schools
and at the Southern Business
College, in Bristol, Va. He
started his railroad career as a
box car switcher at the age Of 1S.
Chairman in 1908
In 1908 he was named general
chairman of the Brotherhood,
holding that office until 1916,
when he was elected vice presi-
dent and national legislative rep
resentative.
During the war he served as a
member of the board of adjust
ment of the United States Rail
road Administration.
In 1928, in addition to his other
duties, he became editor and
manager The Railroad Train
men.
AS a Cabinet member, he was
one of the first to advocate the
five-day week as a means Of les
sening unemployment. He also
struck at machinery as a cause
for throwing millions Of workers
out of Jobs and warned that un-
less care was used the machine
would destroy civilization.
Urged Deportation
One of the important pieces Of
legislation he asked while in
office was that all aliens con-
victed of racketeering or other
forms of crime be deported i'm
mediately.
Mr. Doak always held to the
theory that there could not be
prosperity in the nation unless
high wages were paid the work
ing classes.
While in office he held mem
bership in the American Fedora
ton of Government Employees, the
first Cabinet member to hold
active membership in a Fedora
union.
He advocated uniform State
legislation governing child labor
and school attendance.
When the Democratic Admins
tration took office last March
Mr.. Doak returned to the RAILROAD
post and was active in his worh
until october 6, when he wa
stricken with the heart attack.
The son of a Confederate vet
eran, he is survived by a widow
Mrs. Emma Doak. They were
married in 1908.
Mr.. Doak was awarded thG
honorary degree of Doctor o.
Humanities by the Lincoln Memo
| rial University ia 1881.
The Washington times., 1933-10-23
CODE CHANGES
GET HEARING

Public hearing on amendments
to the cast iron soil pipe code, ap-
proved by the President last
month, were started here today
before Deputy Administrator H.
o. King.
The amendments were asked in
view of the fact that certain items
were overlooked and omitted in
drawing up the code.
Changes asked are that watch
men be allowed to work seven
eight-hour days a week, shipping
crews five eighthour days, and
that apprentices and superannu-
ated employees be allowed up to a
total Of per cent of the total
number Of employees in a plant.
Change in the minimum base
pay to 80 cents an hour in the
South and 10 cents an hour in the
North were also asked.
The Washington times., 1933-10-23
| UII IVII...

Directors Of the closed Mt.
Vernon Savings Bank are ex-
pected at meeting late today
to grant their final approval of
plans for the merging of that
institution with the Washington
Mechanics Savings Bank.
General details of the merger
were approved by the Treasury
several weeks ago, but two
obstacles have come in the way
of final approval by the stock
holders Of the closed bank. These
were whether the bank should
subscribe $4,000 of the proposed
100000 capitalization increase
under the merger and whether
sufficient funds could be obtained
from the Reconstruction Finance
Corporation to pay in excess of
IS per cent of deposits in cash
Immediately.
An announcement Of the out
come of the discussion was
promised at the close Of the
meeting.
The Washington times., 1933-10-23

IS address last night toIIo'0S:'
farmers of the Middle West viii
come through in the same mag
nificent fashion las the cotton,
wheat and tobacco farmers.
"July farm commodity prices
had been pushed up higher
than they are today, but that
push came In part from pure
speculation.
ut is definitely o part Of our
policy to increase the rise (Of
farm commodity prices) and to
extend it to those products
which as yet have felt no ben.
eft. If we cannot do this one
way we will do it another.
The NRA has abolished child
labor; it has eliminated the
SweatshOp.
"The Federal Government is
about to spend $1,OOO,OOO,O00
a. an immediate loan on the
frozen or nOnliquid assets Of all
kaSsB~ -S---S
The Washington times., 1933-10-23
IOWA GOVERNOR
WARNS FARM
STRIKERS
Herring Orders RaodS Kept
Clear; Threatens to Use
National GuardSmen

DES MONIES, Iowa, Oct. %
G.N.SO.-SheriffS of Plymouth
and Woodbury. counties were or
dered by Gov Clyde Herring to.
day to clear the highways of farm
strike pickets.
He advised those authorities, it
was reported, that if they were
unable to keep the highways open,
the National Guard would be
called out.
Orderly picketing by farm Strik-
ers was started in Plymouth and
Woodbury. counties late yesterday
to enforce the farm strike ordered
by the Farmers Holiday AsSocia-
ton.
since the farm holiday was de-
clared last Saturday, about 80
men massed on the highway at
James, in Plymouth county, to
halt motor trucks carrying live
stock and produce to Sioux City.
Scene Of 1882 Violence
Violence in the 1882 farm strike
began at James.
At James the pickets erected a
barricade of railroad ties across
the highway and with persuasion
turned back the laden trucks. No
attempt was m a d e to run the
blockade.
That the actual status Of the
farmers revolt in these parts Is
a matter of conjecture nobody
doubts.
Local farm editors and leaders
sneer at the movement.
Small Minority Seen
There is an exception and that
centers in the group backing
Reno. They say the farmer is de-
termined not to sell any more
produce until the rest of the coun-
try realizes it must pay a higher
price.
But there are others, equally
important. who say the farm
strike is entirely confined to q
few radicals. The attitude of this
group is that the farm strike is
being furthered by an extremely
minor portion of the agricul.
tural element.
Members of the National Farm
Bureau Federation are out Of
sympathy with the group back
ing Reno's revolt.
RULE FOR FOLIO
The Washington times., 1933-10-23
Reno DenOunCes
Roosevelt Air Talk

CHICAGO, Ill, Oct. % G.N.S).
Milo Reno, president of the Ma
tional Farmers Holiday Associa-
ton, arrived here today to set in
motion the farm strike designed
to bring about higher prices.
Denouncing President Roose-
velt's radio address as "supine
and evaSive," he was prepared to
go into the rural districts Of 1llt'
nois to wage his battle.
Tonight he will address mass
meetings in Kankakee and Joliet.
Later he expects to visit farm
centers in the Dakotas, Minnesota
Wisconsin. Nebraska and Kan
sas.
Reno said:
"Wc're not going to stop this
battle until We get cost Of pro-
ductiOn."
He made 1t clear that the radio
address by President Roosevelt
last night will in no way affect
the Farmers Holiday Associations
plan to withhold agricultural
crops from market. He asserted:
"The Farmers Holiday Asso-
citation has demanded recogni.
ton of the right of the farmer
to production cost, which is
fundamental. The President en-
tirely ignored this and failed to
mention it at any time in his
address,"
The President failed to make
definite, positive pledge to agrt
culture" Reno declared.
The Washington times., 1933-10-23
VI LLUU | LnIVU

Plans for protecting the in
teSests of District residents in the
proposed program for setting up
a model housing corporation here
by the Government were pushed
forward today with the creation
of an advisory committee on
housing.
The committee was set up by
Federal and District officials at
the Navy Building following a
joint meeting of all official Or
ganizations concerned with hous-
ing problems in Washington.
This meeting was called by DIR.
Luther H. Reichelderfer, president
of the District Commissioners, at
the request of Senator William H.
King CDD of Utah. chairman of
the Senate District Committee.
Following this meeting, Senator
King declared the session "augurs
we'll" for improvement Of the
District in bringing about elimi-
nation of alley dwellings and the
slum districts,
The Washington times., 1933-10-23
MRS. DENIS
By international News Service

Recovery Administrator Hugh S.
Johnson in a statement today,
announced that President Roose-
welt had exempted retailers en-
ploying fewer than five persons
from the retail code and the
Presidents Unemployment Agree
ment because of the economic
predicament in which store
owners in agricultural regions find
themselves. J..
He made it clear that even II
they had signed the Presidents
Unemployment Agreement to get
a. Blue Eagle, they were not re-
ouired to live UP to any proVl-
sions of the retail code to retain
the Blue Eagle.
Blow at Chain Stores
johnson announced that the eX'
emptlon was in part directed at
chain stores, which have en-
croached on the independent mer-
chants market considerably dur
ing the last decade. He said:
'Tt is part Of the purpose OF
NRA to discourage the vicious
practice of selling products OF
labor at less than the cost OF
them in wages.
"A retail merchant pays a GER
tain invoice price for what he
sells and then pays his employees
their wages for selling it. He
also has other expenses. Cost to
him is not merely what he pays
his supplier. 1t is that plus at
least the wages he pays.
I'm recent years, and especi-
ally with the growth Of the
chain stores, a practice has
grown up of selling one or two
items at a loss in order to get
people into q store. The little
fellow cannot afford this. The
public is fooled because what II
The Washington times., 1933-10-23
Roosevelt Ruling Held Aid
To Rural Merchants

saves on one item it loses on,
another.
I'm the last four years,
40O,O 900 small retailers have
been driven out of business,
and it is bitterly complained
that this O-calIed Gloss leader"
was partly to blame.
For these reasons. the re-
tail code provides that it is an
unfair practice to sell any
article for less than its in
voice cost plus at least a pOr-
ton of the wages paid to en-
plOyes in the store.
"This is frankly an expert
ment. A distinguished COM
mittee is to be appointed at
once to watch closely the Oper-
alton of this code and to make
recommendations on Febru-
ary l."
The Washington times., 1933-10-23
IMITATION BLOC.
SEES DOLLAR .
DEVALUATED
Treasury Experts Are Mum;
President Calls Financial
Aides TO Conference
BY International News Service
While Treasury experts remain

W1lie 1TedbuTy EApC1 Io AChAdALl~
ed silent for the most part con-
cerning President ROosevelt's gold
speech last night, leaders of the
congressional initiation bloc hailed
it with satisfaction today.
They interpreted Mr.. Rooseelt's
utterance as in line with their
campaign to force devaluation of
the dollar, and were accordingly
well pleased.
Thomas Sees DevaluatiOn
Senator Elmer Thomas CD, of
Oklahoma, who sponsored the
Thomas amendment which con-
ferred wide inflationary powers in
the President, said his interpre-
tation of the Presidents speech
was that he would devalue the
gold content of the dollar. Author
ity to do this up to so per cent
was contained in Thomas amend
ment.
Senator Fletcher Cd Of Flor.
ida, chairman Of the Senate Bank
ing Committee, was another who
interpreted the Presidents speech
as q step toward deValuing the
currency in its relation to gold. He
doubted, however, that this alone
would be sufficient.
One official declared that the
Presidents address could not be
considered as inflationary, al
though some experts disagreed
with this view. The latter in
sisted that the power to fix the
price of gold meant that the
value Of the dollar could be man
ipulated as desired by the Ad-
miniStration.
White House Conference
Experts said that tt:.le purchase
OF newly mined gold by the
Reconstruction Finance Corpora
ton was not Of particular signifi-
canoe. Newly mined gold amounts
to only about $50, 600, 900 a year.
R. F. c. purchases would add
somewhat to the American
stocks. The gold SO purchased
would be held as an asset by
the r. r. C.
President Roosevelt today sum-
moned Jesse Jones, chairman Of
the r. r. c., Henry Morgenthau,
head of the Farm Credit Admin
istration, and Dean AcheSon, Un-
der Secretary of the Treasury, to
the White House for conference.
It was anticipated that the
Presidents address would be fol-
lowed shortly by an Executive Or
der which would put into effect
the views expressed in the
speech.
The Washington times., 1933-10-23
Gold Market to Boom
Mines, Says Mint Head

SAN FRANCISCO, Oct. % e.
NSO.-President Roosevelt's an
nouncement that the government
will buy and sell gold in the open
market will boom mining to a
greater degree in Western States,
Peter j. Haggerty, superintendent
OF the San Francisco Mint, com
mented today. He added:
"The mining industry in the
West already has been greatly
stimulated by the Presidents
proclamation of August 28.
"The tendency now will be
to stabilize the price Of gold
and put the mining industry
back on a firm basis. With the
Reconstruction Finance COrpOr-
alton keeping a hand at the
helm the price should stabilize
around S29 to $50 an ounce"
The Washington times., 1933-10-23
SCALING FARM
DEBTS PUSHED
Nv InternatIonal News Service

BY International News Service
Plans to scale down the debts
of heavily involved farmers were
pushed today by Henry Morgan
theau, jr., governor Of the Farm
Credit Administration.
Morgantheau announced that
Cancellation committees are being
formed in Is States to negotiate
debt settlements. He declared:
"It should be the object Of
Cancellation committees to find
some means of permitting
worthy debtors to maintain
title to their homes.
I'm many cases, the present
occupant of the farm will re-
turn more income to the cred
itOrs than the average man who
might succeed him on the farm
in the event foreclosure is 70.
sorted to-
The Washington times., 1933-10-23

HtghLi0htS OF President RooseC
"When we have restored the
commodity price level, we
shall seek to establish and main
tain q dollar which will not
change its purchasing power.
"Our dollar is now too
greatly influenced by the acci-
dents Of international trade.
"NO one believes that COM
modify, especially agricultural
prices, are high enough yet.
Because of events beyond
control, 1t becomes increasingly
important to develop and apply
the further measures which
may be necessary to control the
gold value of our own dollar at
home.
81 am authorizing the r. F.
C. to buy gold newly mined in
the United States at prices to
be determined after cOnsulta-
ton with the Treasury Secre-
tar ~-~I AhN DWAeiIAv.t
The Washington times., 1933-10-23
SURPRISE PLAN
BRINGS RALLY
IN STOCKS
London and Paris See Move
Toward Sterilization;
Dollar Is Weaker
BY International News Service

Worldwide reaction today fol-
lowed President Roosevelt's an
nouncement in his radio speech
from Washington last night Of
the establishment of a Govern
ment market for newly-mined
gold.
There apparently was no clear
cut Interpretation of the signifi-
canoe of the move. In the United
States, however, the first reaction
indicated that both Government
and financial circles interpreted
It as a step toward currency in
flation.
Dollars Value Declines
Abroad. particularly in Paris
and London. the initial interpreta-
tion appeared to regard it as a
move toward "Stabilization," a
policy strongly advocated by Euro
pean statesmen and financiers.
Europe, however, did not see in
President Roosevelt's surprise an
nouncement any early indication
Of Americas return to the gold
standard.
An immediate effect was a de-
cline in gold dollars on the New
York Foreign Exchange market.
European currencieS rallied ac-
Oordingly and showed sharp gains.
The London Stock Exchange in
terpreted the announcement bear
ishly and stocks were buoyant.
The money markets abroad fluc-
tuated violently and the dollar de-
creased in value in London and
Paris.
Gold Miners JubiIant
Leaders of the inflationary bloc
In Washington hailed the an
nouncement with delight and re-
garded it as favorable to their
campaign to devaluate the dollar.
Gold miners of the Western
States were jubilant and predicted
Q mining boom.
Conservative leaders in the agri-
cultural Middle West were slow to
respond, but indicated confidence
in President Roosevelt's program.
Milo Reno, leader of tht farm
strike movement, however, was
openly scornful, characterizing the
Presidents address as "supine and
evasive," and militantly proclaim
ing continuance of the farmers
fight for "cost of production" Of
farm products.
The Washington times., 1933-10-23
Roosevelt JustifieS Faith,
SAYS Governor of Iowa

DIES MONIES, Iowa, Oct. %
U,N.SO.-Regarding PreSid ent
Roosevelt'S radio address last
night, Gov. Clyde Herring Of Iowa
today said:
"President Roosevelt justified
last night the faith which j
have asked our people to have
IN him and his program. ! am
Just as confident as ever that
he is going to right our prob
lem. And dissenters are merely
seeking the boat"
The Washington times., 1933-10-23
COLD MARKET 7
To FIX VALUE
Of DOLLAR
Presidents Speech Announces
New Domestic Policy on
Money Adjustment
BY International News Service

ny t|SNS SOh'ASo
A new policy of domestic
monetary adjustment, embracing
the establishment of a Govern
ment market for newly mined
gold, stood revealed today as
President Roosevelt's latest on.
slaught against the forces Of
depression.
Mr.. Roosevelt outlined his pro-
gram in q nationwide radio
address.
Reviews Accomplishments
The address was primarily a
review of the work of the Execu-
= complete attack on depres-
The President bluntly re-
d to the nation his words
,eral prior speecheS-that
could not be won in a
ut promised to continue the
toward better times.
king formed the keynote Of
ldress and was rung in to-
the end Of the speech.
ydes announcing he would
1iately set up q Govern
market for gold in this
ry, the President declared
tended throwing . billion
behind his credit and
e program to pay off de-
rs in closed banks.
this statement he added
promise that the banking
ure of the nation would be
lit up that the majority Of
;ountry's financial inStitu-
would be in q position to
ipate in the deposit inSur-
phases Of the Glass bank
It, effective next January.
Gold Market Is New
announcement Of q Federal
market was the completely
move revealed by the PreSi'
Mr.. Roosevelt declared the
can dollar was too greatly
iced by international trade,
thermal policies Of other
and political disturb
ollowed this assertion with
atement that it has be-
necessary for the Govern
take into its hands con-
the gold value Of the
Vt home, and said:
nm going to establish q
lment market for gold
United States. There
Inder the clearly defined
ity Of existing law, ! am
izing the Reconstruction
sc Corporation to buy
Iewly mined in the United
5 at prices to be deter.
ID after consultation with
Secretary Of the Treasury
nd the President.
whenever necessary to the
end in view, we shall also buy
or sell gold in the world
market"
The new step was described by
(Couffnued on PAGE ~, Col. ~
The Washington times., 1933-10-23

into a regular bed. And all the
passengers slept through the
landings and taking on of gas
at Ell Paso, Douglas, Tucson,
and Phoenix, Ariz.
There is your success of pas
senger aviation. Fix it so every
one can lie down and have a
good sleep. The air is much
better at night.
Been on a tour with this fell
low Farley for three days.
Thousands turned out to see
him everywhere. Lots of 'em
are looking for a post office.
When he finished talking to
The Washington times., 1933-10-23
S7,5OO,OOO GIVEN POOR

NEW YORK, Oct. % CU.sJ.
The New York chapter Of the Red
Cro-s distributed $7,5OO.000 of re-
lief food and clothing during the
past year. Gen. r. c. Davis, eXecu-
tive director, announced today.
The Washington times., 1933-10-23
ROGERS Suvs:

SANTA MONICA, CAL, Oct. 23.--Left Fort Worth,
Tex, Saturday night at 9, was in Los Angeles at
1880 a. m. yesterday. Regular American Airways
passenger line. The co-pilot made our seats down
The Washington times., 1933-10-23

DEPARTURES FROM NORMAL
Accumulated excess of temperature
since January 1, 1888, ITO.
Excess of temperature since October
l, 1888. 0.
Accumulated excess Of precipitation
since January 1. 1888, 1909.
Excess of precipitation since October
l, 1898, 054
TIDE TABLES
Todsy-High tides 1850 q. m. and
1923 p. m. Low tides, 525 q. m. and
5:21 p. m.
Tomorrow-High tides, 11:5O a. m. and
1900 noon. Lew tides, s:2S a. m. and
6:25 p. m.
THE SUN AND MOON
The sun rises today, 625 a. m. and
sets, 5;19 p. m.
The sun rises tomorrow, 6:2s a. m,
and sets, 5:lS p. m.
The moon rises tom orrow. 11:43 a. m.
and sets, s:45 p. m.
The NEON rises tomorrow. 1s:3s ,. m.
and sets SSS p, m.
The Washington times., 1933-10-23
The Weather

District Of Columbia-Partly cloudy
tonight and Tuesday; colder tonight;
moderate north winds.
Alphabetically cloudy tonight and
Tuesday,. colder tonight.
Virgina--Cloudy tonight and Tues
day, probably rain in southeast por-
tieR; colder tonight.
LOCAL TEMPERATURE
The Washington times., 1933-10-23

em they all felt satisfied, even if they hadn't re-
ceived as much postcard. Quite a President
maker, that lad Presidents become great but they
have to be made Presidents first.
Copyright 1ssI ~ MeNauSbt syudicats
The Washington times., 1933-10-23
CONDITION OF TREASURY

Treasury balance $987,61S,'
1852; miscellaneous internal
revenue, $2,602, ,504.65; customs re.
ceipts, $21, ,243, ,668.57.
The Washington times., 1933-10-23

81 81
"S
The Washington times., 1933-10-23
ROOSEVELT GOLD SPEECH INTERPRETED AS N1FLAT1ONAR
Highlights of Radio
Speech of President

ToOhts of President Rooseves address last night toous
Imperial Valley press., 1933-09-19

Steve, was regular at George
town.
Reggie Root. Yale coach, IS a
bridge fiend. After nearly every
practice he sits down with Adam
Walsh. Comerford and Bucky O.
Connor, for a game. i. Bart VIVA
roa. greatest defensive back devel-
oped in the east for the past five
or six years, will return to Cornell
to study law and will help Gil Do
bic coach the team. Navy IS, per-
haps, further along at this juncture
than any other eastern team.
Members of the squad worked out
at every opportunity during the
summer cruise, and reported hard
as nails. So hard, in fact, that
Coach Rip Miller had them scrim-
maging in few days. Navy's
prospects are exceedingly bright. :.
Only four of last year regulars cre
missing tand the Upcomihg plebe
material is better than in many
years. Dave Mishell, one of the
best drop-kickers Brown ever had,
is helping Coach John Harmon at
Boston University.