The Waterbury Democrat., 1936-07-15
TolUnsend Contention Opened hn CleUeldnd
eContinuAd from PagO D

Shreveport, La., divine who was right bower to fzuey P. Long in the share -tto-wealth movement. Snlitl, is emerging here as the spokesman and directing genius of the Town- send pension plan.
 Don't Care How It Comes
 T don't care whether we get our plan through by constitutional amendment or by means of Q third party. We will propose to the con- vention that 1t prepare constitu- tional amendment for submission to the legislatures, which will be cofl- vening next January, to pay c pen- sion of 92O0 c fnontt--at present. day buying power-to all persons over co. We might adjust the sum in dollars at ifitervals--say five years--to compensate for price fluc- tuations. The plan outlined by Townsend deprecated, If 1t did not foreclose, the possibility that Rep. William Lemke, presidential candi- date of the Union Party of the Uni- ted States, would be elected next November with the votes of protesG. ing forgotten men and women, inc cluding the millions norninally members of the pension clubs. Len- ke has been invited to become Q board member of o A. R. P. and Is scheduled to adress 8 pension mass meeting Sunday. But insiders insist his candidacy will not be formally endorsed here.
 Townsend Explains
 Townsend explained, under ques- tioning, that his fight of o. A. R. P. to the "Citizens MaXlrni," which will be effective July IS, 1037, when the citizens begin electing national pen- sion plan directors did not include all his rights in prosperity publica- tions or the visual education organ- ization. The latter is a development of the stereoptican art owned by Townsend and s. D. Taylor of Bal- timore, Md. Prosperity Publications produces the Townsend weekly. The doctor explained that he owned ven-twentieths of Prosperity Re- publicans. o. A. R. P, and now con. stituted, owned f1irle-twentiethg. The minority o. A. R. P. ownership of the publications will be passed on to the new Townsend plan trustees Townsend said he and Taylor had diverted all visual education profits to o. A. R. P. and would continue to do SO.
 Retlres as Dictator
 T0Wnsend'g proposed abdication as o. A. R. P. dictator followed rumbles of protest from state lead- CTS that they had too little power. The doctors associates expect his offer to be ratified by the conven- ton and to end dissent.
 The doctor announced his new program would be somewhat shifted. He said the constitutional anend- ment to be proposed for adoption would provide for periodical chang es in dollar value of the old age pension. He would start at $200 . month ct the present buying power of the dollar, but if prices zoomed and buying power diminished, Townsend would increase the monthly stipend to the aged in pro- portion to the decreased dollar pur- chaSing power. If prices decreased tho pension might be reduced. He would revalue the S2o0 month pension ct intervals of five years.
 c. B Rankine, national treasurer of the existing CARP organization, submitted his financial report audit cd by George D. West, Chicago pub- lic accountant. The statement for nine months ended June 90, lo36 was aS follows:
 Balance on hand october 1, 1885, @6l, ,360'70.
 Total received, S603, ,746.30.
 Total S6S6, ,i02.00.
 Total disbursed S62O,246.62.
 Balance June 90, i03e, S2o,sbe.47.