Red Lodge daily news combined with Carbon County news., 1934-01-10
This Week
b. ARTHUR BRISBANE
New Methods, Much Money
Guaranteed Deposits
Roosevelt Tells Them
Another High Trim

Another High Trip
The President says I'VE have un-
dertaken new methods" and we
have with a vengeance. I'VE" mean
ing 123.O0O,0O0 Americans, led by
the President win spend this COM
ing year. In various useful ways,
s1,000.000.000 a month. or at the
rate of S12. 900 100000 a year.
Tom Reed. when speaker Of the
house. yelled because the country
spent s5OO.OO0.OO0 In one year.
What would he say of s1,0O0.000,0o0
a month";
Twelve billions In a year Is a
great deal of money, but 1t Is not
too much, not enough. If well spent,
to drive out depression and bring
back employment.
We SEN s10,000.000.00O to Eu-
rope, never to come back. and
spent $4,000. DOC. 900 more for other
peoples war on top OF that. We
might well spend some of our bill
lions productivity, at home.
MFR. Walter j. Cummings, chair
man of the Federal Deposit Insur-
ance corporation. says the situation
as regards security of bank de-
posits should be made clear. The
facts are that all national banks
must deposit certain moneys to be
used to guarantee all bank deposits
up to $500 and have done so.
State banks r not compelled to
enter this arrangement, but may do
so II they please.
1t is a pleasure to announce that
throughout the whole country only
400 or 500 state banks have re-
fused to Join in the plan for guar.
anteeing deposits. Thirteen thou
sand banks, all the national banks
and nearly all state banks, are In
cluded In the guarantee. In select
Ing your bank you probably Will
select q national bank OF a state
bank In which your deposits up to
$500 will be guaranteed by the
government plan. The banker will
tell you II he has not Joined the
guarantee plan.
The President has told congress
and the nation just exactly what
he has been doing since the fourth
of March, and even Republicans
will admit that he had something
to tell.
A bag containing 100000 cubic
feet of gas carried Major Fordney
of the marine corps and Lieutenant
Settle of the navy more than $1,000
feet into the air.
They plan another flight into the
stratosphere, with a balloon of
100000 cubic feet, and hope to go
up Is miles or more, possibly pene-
trating the "ozone layer" which IN.
closes the earth about Is miles up.
That exploration may lead to
plans for bringing down supplies
of that which Is the llfe-giv-
quality of the atmosphere, for dis
tributlon as needed.
This nation has recognized Rus
sia, and now Russia discovers nine
new sources of gold, all capable OF
being worked Immediately. These
Russian gold sources. If richly pro
ductIve, win soften the hearts of
u "best minds" that think Russia
should not be recognized. Also the
discovery of gold will strengthen
Russian belief, bound TO come soon
err or later, that perhaps Karl Marx
did not know best. What qulnine
Is to malaria, gold. 'yellow and
cold" Is to communism.
The United States, while not en-.
tirely happy yet. is happier than
other countries. If that is any com.
fort.
Italy. worrying about Japan, talks
of a Japanese menace" The Ital-
ian chamber Of deputies liz told
Japan today invades China. In,
spired by rae hatred, she will plar
tomorrow against white men,"
That is the view Of Marquis CHA
como Medici del Vascello, who see:
danger In the Dast. Nobody In
America imagines japan flying over
the Mediterranean to attack thu
italian peninsula. but anything II
possible with airplanes.