davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26

AS matters now stand, about halt
of the bills will mean nothing, as
that number are for pension in
creaSeS on which congressional lead
erS have turned thumbs down.
None of the measures will be con-
Sidered before January, 1884, when
the next regular session of congress
will convene.
Robinson was prominent in the
fight against the Roosevelt economy
program, which included reduction
of the amount of money paid to war
veterans by the government. But
the economy program won. Then
the Indiana senator loosed the flood
of pension bills. patiently in the
hope that their passage would help
him in the race for reelection.
Nest of the bills for pension in
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
Today's Short Story

Just one more day left in which
to place your rental ad for the
June l Rental Guide. Ads placed by
11:15 Saturday morning will be
published in the home edition. and
also will be listed in The Rental
Guide if inserted for four or more
insertions.
Each person placing a rental ad
for seven consecutive insertions will
be mailed a pair of guest tickets to
the Apollo Theater upon payment Of
bill.
The Times offers the lowest
rental rate of any Indianapolis
newspaper. just three cents a word,
with a 10 per cent discount for
prompt payment. Special four and
seven-time rates. Call RI-5551 or
come to Want Ad Headquarters. 2l4
West Maryland street.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
WO0DIN MUST
GO, SENTIMENT
IN WASHINGTON
Demand for Resignation as
Treasury Head Voiced
by congressman.
MORGAN LINK IS FATAL
Nye, CouzenS, Borah and
Wheeler Urge Custer
of Secretary.
BY MAX STERN
Times Special Writer

WASHINGTON, May 26.-Senti-
of both parties and in both houses
of congress today that President
Roosevelt'S pledge to purge the tenn
pie of money-changers could not be
kept without the resignation of Sec
rotary of Treasury William Woodin.
Many withheld comment under
the belief that. following revela-
tions of favors granted Mr.. Woodin
by the House of Morgan, the sec
rotary would resign shortly. Others
were outspOken.
1T now is up to Mr.. Woodin,"
said Senator Borah. He should
explain the record or step out"
Feel He Should Resign
Senator Wheeler dem, Month
said: BY reason of conditions eX-
listing in the country today, 1 think
no man should be secretary of the
treasury who is in the slightest de-
gree beholden to the House of Nor
gan or to any other great banking
4IlSJlJIOlOll.
Senator Couzens rep, Mich.)
would make no comment other than
to refer to his speech last week
criticising Mr.. Woodin's new under
secretary, Dean Acheson. as a friend
of the House of Morgan. Senator
Couzens, as a member of the sem
ate banking committee, forced pub
lication of the Morgan benefciarieS.
Robinson, Ludlow Aroused
Senator Robinson Rep., Ind
and Senator Long Dem, Lao have
both spoken in criticism of Mr..
Woodln and Norman Davis, the
mythical ambassador" for having
accepted Morgan favors.
On the house side, likewise, few
defended the secretary's action. Sew
eral demanded his resignation.
Others were "watchfully waiting"
Representative Ludlow Dem.,
Ind declared the secretary's con-
nection with Morgan very I'M
fortunate" But Representative Brit
ten (Rep., Ill.) from the house floor,
urged designations from Mr.. Woodin,
Mr.. Acheson and Mr.. Davis.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26

In addition, the resolution
would make federal currency
Of all kinds legal tender for
public and private debts.
A companion measure will be in
troduced later today in the senate.
This thing means but one thing"
Steagall said. The United States
has declared its independence of
gold"
He asserted fatty that he was
acting on personal orders from
President Roosevelt.
Approved by Administration
The Steagall measure" Treasury
Secretary Woodin said upon leav-
ing the White House, where he O
ferred with President Roosevelt, has
the approval Of the administration"
I Will have a formal statement
explaining this legislation at the
conclusion of the cabinet meeting
this afternoon" Woodin remarked.
The resolution, in effect, would re-
move the gold backing from all pa
per money so far as demand COL
lections from the treasury or its
agencies are concerned.
Steagall added that all bonds
issued in the future by the federal
government would omit the famous
gold clause 'pledging repayment
in gold currency of the present
weight and f1neness.
Reduce Foreign Debt
Instead, they would be made pay
able in lawful money" which under
th0 terms of the new administra-
ton resolution would mean any type
Of currency issued by the federal
government.
The new administration move was
interpreted in informed congress
sional quarters as actually being a
substitute for the gold content re-
valuation provision Of the recently
passed imitation act.
This provision authorized the
President to reduce the gold content
of the dollar within a so per cent
maximum
Some congressman believed that
the proposed resolution also would
have the effect of reducing auto
matically the war debt owed the
United States by European govern
mentS.
Weapon at World Farley
1t was beloved they could now
pay in lawful money" and not in
gold, as previously stipulated.
Information also reached Demo-
cratic congressional leaders that the
gold standard repeal could be forged
into another weapon for use of
American delegates at the forthcom-
ing world economic conference.
1t provides, it was understood, the
machinery for a ~so-called managed
currency"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
BY e RICHARDS
Tni4od proee S4oH


CHICAGO, May 26.-The 1888
" Worlds fair. which for five
years Chicago has been building
as a shrine of progress, was al
most ready for colorful opening
ceremonies Saturday.
Ten thousand workmen still la
bored feveriShly to apply last
minute touches, to exhibits. Off
Gals said nothing would be lack
ing when gates to the avenue Of
flags swing open at 10 a. m. Sat-
urday.
A spectacular, faSt-moving pro-
gram will open the exposition,
the second in Chicago's history.
Gates to Soldier field, which seats
1880 persons, will open at 9.
An hour later an Elgin time ball
will drop at the north entrance.
The signal for start Of the Pag-
cant of Nations.
At the same time the inaugural
parade will start up Michigan
boulevard from the north side of
the loop.
MYTH Postmaster = General
w James A. Farley represent
ing President Roosevelt, the pa
rade will march down Michigan
avenue and enter the stadium
at IL.
Rufus Dawes, president of the
exposition; Governor Henry
Homer, Mayor Edward j. Kelly
and other state and national fig
ures will lead the procession with
Farley. The Chicago Black Horse
troop, police and military escorts
will be included in the process
sion.
After reviewing the parade in
the stadium, Farley will sign a
(Turni to Page TEN
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26

creases would benefit widows of
Civil var veterans. Under the law,
bedridden widows are allowed $40
a month, but for some time pension
committees of both senate and
house have permitted special bills
by which $50 a month is paid.
Another class aided by special
bills is composed of imbecile chill
dren of veterans. The law states
they shall not receive aid unless
they we're under the age of Is at
the death of the father, but the
special bills hurdle the age pro-
vision.
Former Senator James E. Watson
and other Indiana congressional
lame ducks" are said to have willed
Turn to Page F~ourteenl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
CAUGHT TRYING TO
WRECK FAST TRAIN
Gary Man Nabbed Cutting
Signal Block Wires.
BIZ United Press

By United Press
GARY, Ind, May 26.-Theodore
Mardisano, IS, unemployed steel
worker, was held here today follow
ing an attempt to wreck the fast
Niagara Special of the Michigan
Central railroad. The plot was dis
covered a few minutes before the
fourteen-car east bound flyer ar
rived.
Police arrested Mardisano as he
was cutting wires on a signal block.
Several ties had been piled on the
track nearby.
Mardisano told police he did not
know why he plotted the wreck.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26


Passed late Thursday by the SEN
ate and earlier in the week by the
house, the bill goes to conference for
adjustment of amendments.
President Roosevelt has not re-
yelled definitely his position on the
measure, but it's advocates we're con-
f1dent he would sign it and make it
law after congress has approved the
final draft.
The bill embodies many reforms
for which Senator Carter Glass
dem, va, author of the federal
reserve act, long has been fighting.
One strikes hard at j. P. Morgan
g. Co., on whom a senate committee
has focused its spotlight Of public
investigation.
Hits Great Private Banks
The bill would compel Morgan &
Co., and other private banks to give
up within two years either their
deposit or their securities business.
What this would mean to the
Morgan firm is indicated by testi-
mony in the senate inquiry that on
Dec. 81, 1882. it had $40, 900 ,00C of
deposits, and that in the years
since the war it has sponsored fota-
ton of more than $4,000, 900 900 Of
securities.
This provision goes hand and
hand with one compelling all COM
mercial banks to divorce themselves
completely from affiliated securities
houses within n year.
Both sections are based on the
contention that bankers holding
and investing the public's deposits
should have no connection with the
selling of securities.
The only major difference be-
tween house and senate drafts Of
the bills concerns the insurance Of
deposits.
The senate would provide imme-
date insurance of all deposits up
to $4,000 in all federal reserve mem
Der banks and in all state banks
proved solvent. After one year,
permanent insurance would become
effective.
other Major Provisions
The house bill omitS the immedi-
ate insurance, but provides for vir-
tually the same permanent system,
Other major provisions of the
bill:
Forbid payment of interest on de-
mand deposits; permit the federal
reserve board to limit interest on
time deposits.
Prevent interlocking directories
between commercial and private
banks.
Permit national banks to establish
statewide branches in states per-
hitting branch banking by state
banks.
Give the reserve board power 20
withhold credit facilities from any
bank using reserve credit for
speculative purposes.
Empower the reserve board to re-
move officers of member banks in
dulging in "unsound" practices.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
Woman injured in Fall

Falling from a step ladder when
a section of ceiling fell, Mrs. Minnie
Wamphole, So, of $50 Marion ave
nue., was thrown downstairs at her
home this afternoon. She is in city
hospital suffering from hip cuts.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
TO REPEAL GOLD STANDARD Act
of Britain
Dies Pauper
HOratiO BottomIey Famed
as War Time Financier,
Publisher, Orator.
BY HARRY FLORY
United Press staff Correspondent

LONDON, May 26.-Horatio Bot
tomley, one of the most amazing
figures of modern England-editor,
silver-tongued orator. millionaire,
convict, pauper-died in a free ward
of Middlesex hospital today.
Bottomley, the man who might
have been prime minister" died be-
hind a screen that sheltered him
from the stares of his fellow charity
patients. He was operated on a
week ago. At 70, a f1abby old man,
he was unable to fight very hard.
His last public appearance came
a few weeks ago, when he applied
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26

for, and was re-
fused, an old age
pension of 50 a
week.
His last of many
interviews, about
that time, was
C h a r acteristic of
of him.
Il can not real
ly b e. he
said, that Mr.. H.
B. is going to end
like this
Il could have
got anywhere and
been anything if 1
had not made a
of myself"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
In the Air

Weather conditions at 9 a. m:
South-SouthweSt wind, q miles
an hour. gusty; temperature, rs;
barometric pressure, 27.79 at sea
level; general conditions. high,
broken clouds; ceiling, unlimited;
visibility. u miles.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
INDIANA BLAMED FOR
BAD CHICAGO WATER
Inquiry Started After Conference
Held in Gary.

What makes water taste so bad
~ in Chicago is the subject of an
investigation launched today by DR..
John Hare, state health director.
For the C~hicagoans blame it on
Indiana industry in the Calumet
district.
As a result Of a conference be-
tween Illinois, Indiana and United
States public health authorities in
Gary Thursday, the investigation
was started.
Clyde E. Williams, department
sanitary engineer, was assigned to
inspect oil refinery refuse in the
district.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
TAX PAYMENTS SHORT
Total SS,054,000 in County, Is Per
Cent Below Normal.

Spring tax collections total So
054,000, approximately 10 per cent
short. according to final figures on
collections announced today by Fay
Wright, chief deputy county treas
urer.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
ORDER
PUTS RESOLUTION
BEFORE CONGRESS
Action Would Make Federal Currency of all
Kinds Legal Tender for Public and
Private Debts.
Proposal Also Seen as Providing Weapon
for American Use at Forthcoming
Economic Conference.

WASHINGTON, May 26.-Acting on White House
orders, Chairman Steagall of the house banking committee
today introduced a resolution to repeal the gold standard
act of the United States.
This action, he said, definitely takes the United States
off of the gold basis for it's currency.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
ALLEN NEW K. C.. PILOT
Iris Speaker Resigns as Manager of
A. A. Blues.

By United Press
KANSAS CITY. Mo, May 26.-
Appointment of Nick Allen of st.
Paul as manager of the Kansas
City Blues was announced here to-
day.
Allen, who several years ago man.
aged st. Paul of the American As
socation. is to succeed Iris Speaker
as pilot Of the Kansas City team
Saturday. Speakers resignation was
announced simultaneously with Al
lens appointment.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
State Park Pool to Open

Brown county state park SWIM
ming pool will be opened Sunday,
it was announced today by state
conservation officials.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26

That was what millions Of BritOnS
thought, who admired the man,
though they marveled at the nature
that sent him off into crooked
paths. There was no bitterness in
him in his last days. Always a
Turn to Page TWENTY ine)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
Hourly Temperatures
Robinson POurs Pension
Bill Flood on COnQress

Pension bills introduced by Arthur R. Robinson. Indiana's Republican
senator, Will not provide very many strong posts for his political fence,
although he has offered us of the measures.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-05-26
Glass Bank Bill Near
Legislative Journey End
Passed by Senate, Goes to Conference; Roosevelt Is
Expected to Sign Measure.

. LNWfN FFFNS
WASHINGTON, May 26-The Glass banking reform
bill, insuring depositors against loss, and designed to fortify
the banking system against future crises, today neared the
end of the legislative journey on which it has been buffeted
for more than q vpar
Evening star., 1933-09-28
DEPOSIT INSURANCE
BENEFITS OUTLINED.
Wave of Hysteria Overcome,
Cummings Says Over
Radio Forum.

Stressing the restoration Of conf
dence in the banks of the country,
Walter ]. Cummings, chairman Of the
board of directors of the Federal De-
posit Insurance Corporation, last night
described the benefits to be derived by
the public from the establishment OF
deposit guarantees.
Mr.. Cummings address was given in
the National Radio Forum, arranged by
The Evening Star and broadcast over
q coast-to- coast network of the Ma
tional Broadcasting Co.
M. Cummings traced the recent his
tory OF banking which resulted In the
declaration of the national banking
holiday last March and the low ebb OF
public confidence that brought 1t about.
Roosevelt to Fore.
1T was the President himself" Mr..
Cummings said, who first interpreted
what was going on in the public mind,
and here are his own words: We do
not want, and will not have another
epidemic of bank failures.
Since those tragic days six months
ago." he continued, much has been
accomplished in restoring credit, and
those of us who saw the whole series
of events at close range can only
marvel at the progress made to date.
The period of hysteria and fear Is
now past. Hundreds OF millions OF
dollars have been returned to the banks
from their hiding places. Now that
deposits are to be insured, there Will
be a further tremendous increase in
bank deposits, available for investment
in commercial enterprises"
Mr.. Cummings explained the techni-
cal set-up of both the temporary and
permanent insurance plans, and pointed
out that since 81 per cent of all de-
posit accounts are less than $4,000, the
vast majority of depositors have 100
per cent protection.
Savings Secure, He Says.
"Let me emphasize" Mr.. Cummings
concluded, that the Federal Deposit
Insurance CORPORATION will make your
savings secure. Returning confidence
and an end Of boarding will result.
For business and industry it means that
our banks, strengthened immeasurably
by deposit insurance, can more readily
supply credit to finance legitimate
enterprises"
Text of Address.
In his address Mr. Cummings said:
"It Is with pleasure and qualification
that I accept this opportunity to out
line to you one part of most vital and
important piece of legislation called the
banking act Of 1933," which was
passed at the recent special session OF
Congress.
IT refer to certain sections of the
act creating and relating to the Fed
eral Deposit Insurance Corporation.
The name means just what 1t implies
an insurance corporation, to insure
bank deposits-obtaining its capital
from banks which become participants,
from the Federal Reserve banks and
from the Treasury of the United States.
"Out of the tragic events of last Feb
ruary and March, which left our coun-
Evening star., 1933-09-28

Hon. william H. Woodin, Secre-
tary Of the Treasury, began to bring
order out Of the indescribable con-
fusion into which the banks had been
precipitated by earlier events.
THE first step was to determine
the strength and fitness of each men,
Der bank Of the Federal Reserve Sys-
tenn that applied for q license to re-
open. The next step was to cooper
ate with the banking departments Of
each Of the 48 States to the end that
State banks outside the Federal Re-
serve System might also be reopened
as quickly as possible.
Since those tragic days six months
ago, much has been accomplished in
restoring credit, and those of us who
range can only marvel at the progress
made to date The period of hysteria
and fear is now past. Hundreds of mil
lions of dollars have been returned to
the banks from their hiding places.
Now that deposits are to be insured,
there will be further tremendous
increase In bank deposits. available for
investment in commercial enterprise.
THE new Federal Deposit Insurance
Corporation Is organized to insure the
deposits Of all banks that are qualified
under the law to receive the benefits Of
deposit insurance, and the entire re-
sources of the corporation are placed
behind every insured bank to guarantee
to each depositor the safety Of his
deposit.
Fund to Insure Depoets.
GAS first step in this program the
corporation is directed to set up a
temporary insurance fund which
commences January /, 1894 (unless
the President shall by proclamation fix
an earlier date), to insure all deposits
in eligible banks up to a maximum
amount Of $2.500 each until July l..
1884 About 81 per cent Of the de-
positors in our banks have less than
s2,5O0 in their accounts. This means
that the vast majority Of the depositors
Evening star., 1933-09-28

try tottering on the brink Of economic
ruin, came the necessity to insure the
people that their money could be put
into q bank with full assurance Of
withdrawal when needed.
THE Federal Deposit Insurance
Corporation was created as q result.
mo feature of the banking act Of
1898 attracted such attention. To al
most a universal degree our people are
interested and affected by that act
which touches on their deposits OF
money placed in our banks. The de-
mand for insurance of deposits became
so insistent that the banking act Of
1888 passed the House of Representa-
tives with but six dissenting votes
while in the United States Senate the
vote was unanimous.
"The voice of the American people
had spoken Enthusiastically on the sub
ject of banking reform through their
representatives in Congress. The
peoples sure instinct for progress and
order had asserted itself, as it often has
done before at times of crisis In the
history of our Nation. But it was the
President himself who first interpreted
what was going on in the public's mind,
and here are his own words: We do
not want, and will not have another
epidemic OF bank failures.
Occasion of Last March.
MANY of my listeners tonight will re-
member the dramatic occasion last
March, when this mighty resolve came
to them from the White House, ex-
pressing so forcefully their own wish
and determination.
Let us go back six months to see
where the Nation stood on the night
of that important broadcast from the
White House-March IL. All the
banks in the country had closed and
were only then beginning to open.
Anxiety and panic gripped the owners
of forty million deposit accounts.
Trade and industry were completely
paralyzed.
Then, under authority of executive
orders issued by the President. the
Evening star., 1933-09-28

scribed by banks that become members
of the Permanent Insurance Fund.
Thus the corporation will have . capi-
tai fund Of approximately $500, ,000, 900.
In addition to which 1t Is authorized to
borrow against its assets up to three
times the amount Of its capital.
After July /. 1896, all banks par
ticipating In the insurance fund must
be members Of the Federal Reserve Sys-
tenn. The plan therefore looks forward
to a logical development Of our bank
Evening star., 1933-09-28

ing system through insurance Of de-
posits. seas,
"There are many other phases Of this
act which are highly important. but
tonight it has been my purpose to out
line briefly only its insurance pro-
visions.
I'm conclusion let me emphasize that
the Federal Deposit Insurance Cor
poratiea will make your savings secure.
Returning confidence and an end to
boarding will result. For business and
Evening star., 1933-09-28
Color for 6. C. g.

NEW YORK P).-The Civilian Con-
servation Corps. Winter raiment, arriv-
ing at Governors Island, almost knocked
Army ofncers' eyes out. There are rcd.
green. blue and gray lumber packets.
weather w1ndbreakers, woolen blouses.
Everything is colored, even heavy un
dies and socks.
Evening star., 1933-09-28

industry it means that our banks,
strengthened immeasurably by deposit
insurance, can more readily supply
credit to finance legitimate enterprises
you some idea OF this new important
act In the short time allotted"
Evening star., 1933-09-28

Spain Barters Steel.
Spain is bartering steel rails for Ar
gentina corn