Indianapolis Times, Volume 47, Number 29, Indianapolis, Marion County, 13 April 1935 — Page 3

APRIL 13, 1933

ROOSEVELT AND CONGRESS PLAY CURRENCY GAME \ Silver Price Boost May Act As Checkmate to Senate Bloc. Pi T nitrd Prr a. WASHINGTON April 13 President Roosevelt's 6 per cent boost in domestic silver prices to slightly more than "1 rents an ounce was timed bv luck nr design to checkmate the .Senate siher bloc which wants to freeze silver to gold at the Bryan ratio of 16-to-l. The fart is that Mr. Roosevelt and Congress are playing their annual game of currency hide-and-seck. The came began two years avo when the President decided to save himself trouble by accepting e the Thomas currency inflation bill which became a rider to an agriculture appropriation. Last spring the maneuvering of the White House and the currency expansionists produced the silver purchase act of 1934. It authorized the Treasury to purchase silver until 25 per rent of the country's monetary stocks were in that metal and 75 per cent in gold—or. until silver reached a price of $1 an ounce. World Price Raised The new silver price represents a news per rent subsidy to domestic silver producers. When the jioliry of buying domestic silver at a premium was inaugurated Dec. 21, 1933, the price was fixed at 64cents, about. 20 cents an ounce above world prices. The world price gradually approached and reached that figure so silver was boosted another F cents. The United States policy of subsidy to domestic producers is raising world silver prices. Within 24 hours of announcement of the new price the Senate agriculture committee reported favorably the Wheeler bill which would require the Treasury to purchase 50000.000 ounces a month until the price of silver reaches a ratio of 16 to 1 with gold. The Wheeler bill was placed before the inflationminded agriculture committee b> subterfuge. It was introduced as legislation to v aid agriculture and stock raisers. \all currency legislation should go to the banking and currency committee which is relatively conservative and hostile to 16-to-l silver plans. Since June. 1934 the Treasury has been buying silver at an average rate of 41.000.000 ounces a month. The silver purchase act is so drafted that the Administration could reduce purchases far below’ that quantity. No time limit is specified in the purchase act for achieving 25-75 silver-gold ratio. Pittman Praises Move By adding six rents an ounce to the subsidy of domestic silver producers. Mr. Roosevelt will win votes front the Wheeler bill. Senator Key Pittman 'D.. Nrv.) was first, on the

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Now here's anew adventure in Quinland ! Annette's lea)nine/ to drink her orange iniee from a glass, just like any real grown-up. She seems a little puzzled by the experiment, as she sits straight, in her little chair and. surveys the glass.

floor with praise for the Administration's efforts to boost silver. Senator Pittman is expected to go along with Mr. Roosevelt and to defend his program. But other currency expansionists on the Democratic side are less certain the Presiient would speed-up silver purchases or even increase domestic prices if it, were not for the silver legislation snowball fashioned in the agriculture committee. "Mr. Roosevelt is going right along with the silver plan." it was suggested to Senator Elmer Thomas. <D.. Okla.L “Yes.” Senator Thomas replied. "He goes along when we have a

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WELL, GIRLS, HERE'S S-QUINTING AT YOU!

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! block and tackle on him, like th#r ! Wheeler bill.” NEW TYPE OF PLANE TO BE MANUFACTURED Canadian Aircrafts Firm Will Put 12-Place Lockheeds on Market. i By I nitrii Press MONTREAL. Que., April 13 —One of the most recent and successful i airplanes developed in the United , States, the 12-place cabin Lock-need-Elcctra airplane, shortly will be manufactured in Canada, ac- | cording to an announcement by Hubert M. Pasmore, president of i the Fairchild Aircraft Limited.

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MEDICAL ARTS BLDG, LEASED BY BAXTER Court Approves Offer of $23,000 by Capitalist. Lease rights of the Medical Arts Building, Pennsylvania and Mich-igan-sts, have been acquired by Arthur R. Baxter, Indianapolis capitalist. With denial of a receiver for the Medical Arts Building Corp. by Cir-

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But the strangeness soon wears off, and here's Annctfe drinking from the glass arid looking up archly to show you ihat there's nothing to it, at all, once yon get the hang of it. Annette was the first of the quintuplets to master the new drinking technique

cuit Judge Earl R. Cox the sale of 'the lease rights for $23,000 was confirmed today. During the hearing it was brought j out that Mr. Baxter also would as- ! sume approximately $21,000 in corporation liabilities. The transaction W'as negotiated by Klein & Kuhn, Inc. Alterations and improvements will be made. Venus, not Mars, is the most probable home of life on other planets, according to latest reports from scientists and astronomers, w’ho have estimated that the temperature of Mars drops to at least 40 below zero at night.

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HOLD POST MORTEM ON PRIZED THEBAN MUMMY Surgeons Delve Into Life of Nittip I, Dead 2500 Years. By United Press COLUMBUS. 0., April 13.—Dr. Frank A. Riebcl and Dr. Norris Lenahan, young Columbus surgeons, have performed a post mortem on Nasi-Khonsun-Pa-Krodou, Theban mummy, a prized possession of Ohio Archaeological and Historical Museum. * The young lady, also known as

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Nittip I, has been dead for 2500 years. The operation showed: That Nittip was 35 at death; that ; her death W’as of natural causes, but | sudden; that she was childless; that { aside from two childhood illnesses, i she enjoyed comparatively good ; health. H. C. Shetrone, curator of the museum, said the examintion sets at rest a notion that Nittip w’as a glamorous woman of an exotic kingdom. She W’as a spinster, mistress of her father's household, who spent most of her time keeping house. Birds have lower temperatures in hot w’eather than in cold.

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BATTLE LOOMS IN EFFORT TO OUST CUTTING Partisan Fight Over Seating of Progressive G. 0. P. Senator Flares. B<J Seripps-Hoirnrd \nrspnprr 4,’fj anr WASHINGTON. April 13 A partisan fight to unseat Senator Bronson Cutting, progressive Republican from New Mexico, appeared to be in prospect today following an 8-to-6 vote by the Senate privileges and elections committee to entertain a contest filed by Dennis Chavez, his Democratic opponent of last November. The vote against Senator Cuttings motion to dismiss the Chavez charges of election fraud presented a solid Democratic front. Voting for the contest were eight Democrats: Walter F. George <Ga >, Tom Connally Tox *, Thomas P. Gore iOkla., M. M Logan Ky >. Nathan L. Eachman (Tenn., Fred H Brown <N. H >, F Ryan Durrv <Wis>. and Sherman Minton tlnd.L For dismissal of the Chevaz charges were one Democrat, Ellison D Smith (S. D>, and five Republicans: Daniel O. Hastings 'Del.*. Warren R Austin tVt.', L. J. Dickinson (low a', Hiram Johnson tCal ), and Gerald P. Nve <N. D.. Three Democrats on the committee did not vote: William H King (Utah*. Robert J. Bulkley <0 >. and Carl A. Hatch <N. M.. The majority threw out onp of Mr. Chavez' two charges, tnat of excessive election expenditures, but gave him 10 days to amend his petition and make this charge good. It voted a contest on the Chavez charge that 2800 ballots in five New Mexico counties had been fraudulently voted. Mr. Cutting's election by a majority of 1302 votes was proclaimed by the state canvassing board and upheld by the state Supreme Court. The charge of illegal expenditures. now’ out of the picture unless Mr. Chavez presents more evidence has been considered the more serious of the two allegations. It was on similar charges that the Senate refused seats to Frank Smith of Illinois and William Varc of Pennsylvania. "I was in favor of throwing out the whole contest," said Senator Nye today. "The more I see of it the more I am convinced there is nothing to it. On the record before us, I'm certain the Senate will feel the same way." Mr. Nye has been a crusader against election frauds—he headed a Senate investigation of such practices four years ago. Mr. Chavez’ attorney, ex-Gov. A. T. Hannett. said today he did not know whether the original complaint would be augmented or not. Roosevelt Undecided on Bonus WASHINGTON. April 13.—President Roosevelt today siad he was undecided whether to send a message to the Senate on the soldier bonus. Democratic Leader Joseph T. Robinson had indicated sue! a message might be sent.

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