Milford chronicle., 1936-01-17


o advanced as substitute for DR.
d Townsend's. Under ii, each new
Il born babe would get a $4,000 prom.
r issory note. Until he was 20 and
could claim the money, his parents
q would get per cent interest. or
: $50 a month. Thus, a couple could
e marry at 90 having $4,000 capitai
} and get 5000 a month from the gov
ernment in addition by raising four
: children. Then nobody would have
. to work.
The horns of another dilemma are
growing swiftly in Washington. One
prong is dollar stabilization; the
other IS continuation Of the present
unstable monetary program.
A big factor retarding business
recovery has been fear about what
! might be done to thesnation's money.
Some of that fear originated. nor
haps only by coincidence. about fle 1
time the dollar was declared to be
worth only SO instead Of 100 cents
in gold. It was heightened when
Congress enacted .he Gold Reserve
Act of 1884, taking all the gold away
from the Federal Reserve Banks.
On January 80, the Presidential
power to make the dollar represent
even less gold and to continue use
Of the $2,O00,000,00O stabilization
fund expires. 1t can be continued
another year by a Presidential pro-
clamation. But the catch is this:
The administration. and business
I'm general, have been emphasizing
and re-emphasizing recent improve
ment. The only way the monetary
program could be extended without
legislative action would be by
proclamation recognizing the con-
tinuance" of "the emergency" 20
use the language Of the law. That
would be poor practical psychology
right now.
Consequently, some folks are
looking for a middle road There Is
.alk about getting Congress to pass
! new bill which would extend the
present system for another year or
30 without recognition that an emer-
yency exists. That, Of course, would
AXE the problem beyond the cleo
ion next November II also would
cave a DamOcles sword stin hang
ng in the form of an unanswered
uestion about what finally will be
one about money.
Some Capitol Hill chiefs have
cen predicting that bonus bill
i'll not be vetoed this session OF
ongress. But one New Dealer who
especially politically conscious
1g up the following remark in
)32 by Governor Franklin D. Roos-
,elt Of New York and wonders how
Iat could be reconciled with the
,sence Of a veto:
81 don't see how. as a matter Of
'actical sense, a government rum Z
ng two billions dollars annually
n consider the anticipation OF A
nus payments until it has a bal J
ced budget. not only on paper.
t with a surplus Of cash in the
sasury." v
ser'
The trip which more than score IN
Congressman made to the Phil pOu
pines intensified talk about tarin
U Lfdue D0hCieS. lHe DemOcIalS
needed that Japanese exports
re an increasing menace 10 AM
can trade while Republicans con- IN
ded their observations in the
lent proved the "futilily" Of the y !
iprocal tariff idea. 81,
'ariH legislation is not on the
nda for this session since the
We for a brief meeting continues.
lsident Roosevelt is reported to
e told one Democratic leader LOa
I the only thing he wanted, in ~.
ition to appropriation bills. was Oke
neutrality law. That Uni
the party chiefs to forecast 0tk
sion ending in April But the osii
= woman senator. Mrs. Hattie W. Ban
away OF Arkansas. says there Fnr
be plenty Of fireworks" with -
gress Staying at work until May
Tora - =