Evening star., 1934-12-31
January.

January 3-Annual budget message Is submitted
to Seventy Congress by President It predicts
deficit Of 73 billion for the current fiscal year
| lending June so, 1885 and contemplates new
| financing Of 10 billion dollars-six billion new
borrowing and four billion refunding.
January 8-The United States Supreme Court
upholds the constitutionality Of the Minnesota
| mortgage moratorium law, in q five-to-four de-
bassador to the United States presents his creden-
| tials to President Roosevelt.
January 9-The beginning of the new session
! Of the French Chamber of Deputies Is the oc-
casion for street rioting protesting the Stavisky
| affair.
January 1.-THE new slver-purchase plan takes
effect. Under its provisions the Government will
pay 64h cents an ounce for newly mined domestic
silver. The open market price for other silver not
eligible under these terms, is A cents an ounce.
January 15-In special message to Congress
President Roosevelt asks power to revalue the
dollar at between so and so per cent of its former
! parity and, necessary, subsequently to revalue
1t within those limits. The increase in value Of
the 36 billion held by the Federal Reserve Sys-
tenn shall accrue to the Treasury and billions Of
1t shall be employed as an exchange equalization
| fund.
January 24-sl 600 100000 new financing by the
Treasury Is oversubscribed nearly five times
| January 28-The chautemps ministry resigns.
Former Premier Daladier forms q new cabinet
| January %
January 3O-The President signs the gold re-
serve act. Its essential provisions give the Treas
ury title to all gold held by the Federal Reserve
System against corresponding credits require the
melting down Of gold coin ard of bars only for
export, and remove gold clauses from currency
reserve and redemption requirements.
January 3l-By establishing buying price Of
$35 an ounce President Roosevelt revalues the dol
lar at SO. per cent Of its old parity
February.
Eot~r
New York reduces its rediscount rate from 2 per
cent to 1h per cent. The stock market Is up
| sharply with volume of 4713,000 shares. The
bond market is also strong in the largest days
turnover since 1880.
February 2-Dollar goes to 6.s per cent pre-
MUM, sterling 4.87, franc $40. An unprecedented
gold flow from Europe sets in; the shipments are
limited only by shipping capacity.
February 4-The New York taxi strike is set
tied after period of widespread disorders.
February Premier Daladier resigns follow
ing night of rioting approaching civil war in
intensity. Former President Doumergue Is called
to form a coalition cabinet.
February 8-The Federal Reserve Bank Of
Boston reduces rediscount rate from " per cent
to per cent. The Bank of France raises its re-
discount rate from 2h per cent to per cent in
| consequence Of the heavy outflows of gold since
the revaluation of the dollar.
February s-Postmaster General Farley can
GELS all airmal contracts, announces the United
States Army will fly the mail temporarily.
u
civil war. The government and Heimwehr forces
take strong surprise action against Democrats.
February 15-The situation in Austria quiets
down.
February 16-s100 600 900 gold arrives in New
York, the largest amount ever received in single
day. The German standstill agreement is extended
for another year.
February 27-Gen. johnson proposes 12-point
revision of the N. r. A. after field day. for
criticism
February 28-Imports of gold have practically
ceased, due to the dollar being so close to the
point to remove most of the possibility for
profit. as well as to pressure by European govern
ments Gold imports at New York during Feb
ruary amounted to s3S2,6l3,0oo.
March,
March Henry Pu vi is enthroned Emperor
Of Manchoukuo.
March president Roosevelt asks Congress for
authority to negotiate tariff treaties and to raise
or lower existing tariffs up to so per cent.
March 5-Supreme Court upholds the legality
of the State Of New Yorks fixing milk prices The
President in an address before the code authorities
in Washington, asks industry to increase wages,
shorten hours and employ more workers.
March 13-The Ford Motor Co. restores the
s5-a-day minimum wage effective for $1,000 of its
workers.
March 2o-The President succeeds in postponing
the outbreak of the threatened auto strike.
March 25-Automobile strike definitely avoided
by compromise. r. F. c. reduces the interest rate
on its capital notes and preferred stocks to per
cent, effective for five years.
March 28-The Senate passes over the Presi-
dents veto the independent Offices appropriation
bill. BY restoring Federal pay cuts and increas-
ing payments to veterans this bill increases the
budget by $228,000 ,00O
March 31-The British government closes its
fiscal year with surplus of f31,148.000.
April.
April IA Soviet merchant ship the Kim
enters New York harbor for the first time in
history.
April 3-Treasury calls for redemption April l5
81 ,005 100000 Fourth Liberty 4A per cent bonds
Three and one-quarter Treasury bonds are offered
in exchange for the Fourth AVS and also for
$244, ,234 900 per cent Treasury notes due May g.
State of New York borrows $50,0000 900 by long
term bond issue at average cost of 1887 per
cent the lowest rate in its history.
April General Motors raises prices on all
its lines
April s9-N r A. settles strike of $500
employees of the Motor Products Corp, Detroit.
who receive 10 per cent increase.
April 13-Senate passes tax bill to raise ad-
ditional S431, 900 600.
April 15-President Roosevelt expresses him