Indianapolis Times, Volume 47, Number 259, Indianapolis, Marion County, 7 January 1936 — Page 1
SCRIPPS-HOWARD
J. P. MORGAN IS PIIT ON SPOT BY SENATE PROBERS
Financier Denies Loans to Allies Dragged U. S. Into Conflict. BLAMES GERMAN ACTS Nye Committee Accuses Banker of Making “Stump Speech.’ By United Press WASHINGTON, Jan 7. The Senate Munitions Committee today unfolded an outline of the history of war-time finances as drawn from the testimony of J. Pierpont Morgan, who sought to give every lawful aid to the allies, and from secret memoranda of the Wilson Administration which sought to remove obstacles impeding credits to belligerents. “The bankers had nothing to do with settling the laws of neutrality,” the head of the House of Morgan told the committee as he edged forward in a big red-leather chair to give his version of how America got into the world conflict and how to keep out of the next one. “When the government changed its policy, we turned our toes around, too.” The 68-year-old Morgan, crushing a prepared statement of policy in his hands, insisted that it was German “insults and injuries” rather than loans to the allied nations that drew the United States into the World War. He and his partners sharply contradicted Senators who accused him of trying to make a “stump speech” in relating his pride in aiding the allied cause. Mr. Morgan was read a quotation from William Jennings Bryan that "money is the worst of all contraband because it can buy all other , contraband,” and asked if he agreed. "No. I don’t think so.” he replied. ‘Mr. Bryan exaggerated the importance of money.” Reads Long Statement Mr. Morgan and his partner. Thomas W. Lamont, insisted that the financial house was most scrupulous in its dealings with all governments during the war. The 68-year-old financier read a long statement outlining his company's position and pride in aiding the Allies, but the committee accused him of making a “stump speech” and frequently interrupted his reading. When he had finished, the questioning by Chairman Gerald P. Nye and other members swung quickly to the intricate maze of high finance at the outbreak of the war. Senator Nye developed that, three days after the war started. Rothschild's queried Morgan & Co., asking if they could raise $100,000,000 for France. Sent Cable in Cipher On Aug. 4, Morgan's replied to their Paris branch, Morgan Harjes Co., that they couldn’t handle the loan immediately, due to the exchange situation, but that later it probably would be "possible and an excellent plan.” The Paris house replied, sending a cable in cipher through the courtesy of the French finance minister. Cipher use had been suspended for private individuals due to the war. Mr. Nye said: “Let's get this clear. Three days after France's enrty into the war, the question of loans to belligerents arose. And on Aug. 4 it seemed to Morgan & Co. that the idea was possible and excellent.” Anxious to Help France “Morgan Harjes warned the New York house that if it didn't act quickly ‘Kuhn, Loeb or some other house may provide credit to the other nation.” "What other nation is that?” Morgan: Probably Germany. Lamont: Of course. Senator, you realize that Morgan Harjes was interested in doing everything possible for France. Have No Recollection Nye—Yes, and Morgan & Co. was largely interested in the Paris house. Morgan—Our New York firm was a partner in the Paris house but each had its own territory. Mr. Nye asked about the period of uncertainty over the wisdom of making loans to belligerents. "Which member of your firm contacted the State Department in regard to that situation?” he asked. Morgan smiled, scratched his head. "Really." he replied, “we have no recollection on that and we have no way of getting a recollection up." Reads Bryan Telegram Nye read a telegram from Bryan to the Morgan Co. on Aug. 1, 1914, declaring that loans to belligerents were “inconsistent with the true spirit of neutrality.” “That was the first word we received of the government’s attitude,” Mr. Lamont said, adding that Morgan. Harjes & Co. in Paris was informed immediately that there could be no loan to the French government. The statement declared President Wilson “made clear” in his protests to Germany that submarine warfare was the basic cause that drove this country "toward the brink of the conflict.’
The Indianapolis Times FORECAST—Fair tonight and tomorrow; much colder tonight with lowest temperature about 15.
VOLUME 47—NUMBER 259
J. Pierpont Morgan
HOSPITAL WARD GIFT OF LILLYS $6000 Given to Remodel Contagious Diseases Unit at 'City.’ Within 10 days workmen will begin to remodel completely the contagious ward at City Hospital at a cost of $6000, donated by Eli Lilly & Co. They will put in a new floor, new floor covering, new windows, a new doorway and they will build cubicles for the patients, who will be isolated thereafter even within the ward. There now are 35 patients in the ward and Dr. Charles Myers, hospital superintendent, is busy finding a temporary ward for them while the work is in progress. It all came about because a physician in the Lilly laboratory occasionally worked in the ward in the course of his duties. Dr. Myers recommended in last year's report that money be found for modernizing the ward but directors were unable to provide the funds. The Lilly employee interested himself in the situation and took it up with directors of the company. They voted the money several days ago. DR. HARPER ELECTED lOWA COLLEGE HEAD Resigned Evansville President to Take Post at Indianola. By United Press EVANSVILLE. Ind., Jan. 7.—Dr. Earl Harper, resigned head of Evansville College, has been elected president of Simpson College, Indianola, la., it was announced here today. Although he is scheduled to assume his new position Feb. 1, Dr. Harper is to ask to remain here until March 1 to aid in selection of his successor. He is to replace Dr. John H. Hilman, president for 17 years at Simpson. Dr. Hilman is retiring at the age of 71. By United Press MILWAUKEE. Jan. 7.—The electoral board of Concordia College today nominated the Rev. Walter Birkner, mission director of the Central District Missouri Synod of Fort Wayne. Ind., for president; of the college here. THELMA TODD PROBE SCORED BY MOTHER Says Investigation Is Pressed by Job-Seeking Politicians. By United Press LOS ANGELES. Jan. 7.—The drawn out investigation into the death of Thelma Todd, screen comedienne. is motivated by "a lot of politicians seeking jobs." Mrs. Alice Todd, the actress’ mother. asserted today. Police declared the case “closed' weeks ago. BONUS MEASURE DUE IN HOUSE THURSDAY “United Front” Bill Announced by Ways and Means Chairman By United Press WASHINGTON. Jan. 7.—Attempt will be made to bring up the “united front" bonus bill in the House on Thursday. Chairman Robert L. Doughton of the Ways and Means Committee said today.
CITY FIRE RATE TO DROP SOON, ENGINEER SAYS Underwriter Survey Shows Personnel, Equipment in Good Condition. 613 FIRES DURING 1935 Insurance Cost Figure to Be Set at Conference in Spring. Col. William D. DeRohan, National Board of Fire Underwriters engineer, today predicted that Indianapolis will have a lower fire insurance rate after he presents a report of his survey of conditions here to his board next spring. This afternoon he met with Mayor Kern, safety board members, and Fire Chief Fred C. Kennedy and told them that conditions are so satisfactory that he feels certain his board will reduce the rate. Col. DeRohan, with two other board engineers, H. T. Munn and L. W. Evans, today completed a nine-week survey, including inspection of water facilities, structural conditions and electrical hazards and study of records in the office of Chief Kennedy. Personnel Excellent Summary of the survey shows fire department personnel rating as excellent and the apparatus in good repair, although some of it is old. Removal of the wood shingle hazard and demolition of fire-breeding structures are stressed in the report as having the greatest bearing on a probable insurance cost reduction. The insurance rate situation is to be settled definitely following a final board report to be made next spring. Commenting on fires in the city during a five-year period ended Dec. 31, 1935, Col. DeRohan’s summary shows a striking reduction in them. In the five years, there was an average of 960 fires a year, but only 613 in 1935, as compared to 1142 in 1932. Total loss in the five years was $2,203,623, for an average loss in each fire of only $459 a year, and (Turn to Page Two) PHONE CO. ANSWERS FRANCHISE CHARGE Gamewell Service Is Given Free, Is Retort. A complaint to City Council that the franchise of the Indiana Bell Telephone Co. does not bring sufficient revenue to the city of Indianapolis today brought a reply from company officials that in addition to giving the city $6000 yearly, cable facilities for Gamewell systems of the police and fire departments are furnished without cost. The offiicals’ statement follows: “The Indiana Bell Telephone Co. has operated in the city of Indianapolis under a franchise entered into in 1896. So far as the company knows this is the first time any question has been raised about the provisions of the franchise. “Under the franchise the company has paid $6000 annually to the city and in addition, the city has benefitted through the use of both aerial and underground facilities furnished without charge to the city by the telephone company for its police and fire alarm systems. The use of these facilities has grown as the city has expanded. Willing to Confer “The telephone company will, of course, be glad to discuss the provisions of its franchise with representatives of the city,” the statement concluded. A suggestion that the telephone company may owe the city $12,000 yearly instead of the $6000 it now pays is being investigated by the City Council. The matter was brought to the council's attention last night in a letter written by Walter O. Lewis, attorney. Mr. Lewis traced the history of the franchise under which the telephone company operates from the time he says it was granted, in 1896, to the present. His letter says the $6000 figure was named in the original franchise for the use of city streets and alleys and has not changed although the city area has expanded many times. Merger Reduced Payments He further claims that when there were two telephone companies in town they each paid the $6000 yearly but since the merger the Indiana Bell Telephone Cos. has paid only the $6000 for the same rights. Walter Boetcher, city controller, told council members the matter had come up when he was a member of the Works Board and though nothing had been done about it, he believed the utility should pay $12,000 yearly. GARBO REPORTED ILL OF THROAT DISORDER Star Now Recovering at Swedish Villa, London Hears. By United Press LONDON, Jan. 7. —The Exchange Telegraph said today Greta Garbo has been ill in her villa at Nykoping, Sweden, the last six weeks with a serious throat affliction. The report said the condition once was considered “rather critical” but that she now was able to leave her bed. It claimed her illness made her return to Hollywood most uncertain. Miss Garbo's villa is 50 miles from Stockholm.
INDIANAPOLIS, TUESDAY, JANUARY 7, 1936
Stocks Higher By United Prets NEW YORK, Jan. 7.—Stocks rallied steadily today after an early decline. Utilities led the list up. until in the early afternoon, the market was irregularly higher. Gains spread to the railroad issues where advances extended to nearly 2 points. Impetus for the nse came from a suit filed to challenge the constitutionality of the railway pension act. Utilities were bid up on hopes the TV A soon would go by the board in a Supreme Court decision. Farm issues rallied from early lows but still were lower in the afternoon. Utilities held gains ranging to more than a point. Motors resumed their rise interrupted for a time in early trading. Oils were firm. Tobaccos rose as much as 2' points in Liggett & Myers B. Around the end of the third hour, Union Pacific was at 1114, up 134; Southern Pacific 2512, up Ts; Chrysler 871a, up 14; Consolidated Gas 33%, up 114; Montgomery Ward, 37%, up 34; International Harvester 5734. up 1%; Case 9334, up Hi; and U. S. Steel 48, off 34. Hogs at the Indianapolis stockyards increased 50 cents today to a high of $10.35, the peak price since early in October of last year. “The rise of prices of live hogs to the farmer will result in a reduction in the retail price of fresh meat, due to the removal of the $2.25 processing tax,” John L. Mozley, United States Department of Agriculture representative at -the local yards, said today. Cash wheat at the AcmeEvans Milling Cos. remained the same as yesterday at 96 cents. Corn also was steady.
DRUNK DRIVING GURB IS ASKED Women's Council Proposes Confiscation of Cars of Offenders. The Indianapolis Council of Women, meeting in Ayres’ auditorium, today passed resolutions calling for state confiscation, upon conviction, of any drunken driver's car, and confiscation of any car whose owner gave a fictitious address when getting license tags. It also passed a resolution asking that auto owners be required to carry collision, personal liability and property damage insurance, onehalf of which would be paid for from the gasoline tax fund of the state or county or both, and onehalf of which would be paid for by the owner. Another resolution passed asks for compulsory physical examination of drivers; examination by traffic officers to determine driving ability, and an examination of all automobiles to show that they meet safety requirements before licenses are issued. The council gave as its reason for such drastic measures the increasing death toll in traffic and the conviction that streets are unsafe for children because of heedless drivers and antiquated cars. The council authorized Its economics committee to make a study of distributing costs and quality of Indianapolis milk to determine if it is to ask rehearing of the petition of dealers that resulted in the state board declaring an emergency and raising the retail price of milk one cent a quart. The council said it had been given insufficient data on the matter and required more information before determining its course of action. IMPROPER UR TAGS ERIKG FOUR ARRESTS Nine Autos Impounded; ’36 Plates Reported Stolen. Nine cars were impounded, eight sets of 1936 license plates were reported stolen and four motorists were arrested on improper license plates charges in Indianapolis during the last 20 hours. Municipal Judge Charles J. Karabell withheld Judgment in the cases of eight persons charged with failure to have new licenses yesterday. Three were fined $2, one was dismissed and a motorist who failed to appear for trial was ordered rearrested.
Headwork If you’ve been wondering why Earl Smith, Negro. 439 Black-ford-st, stole the Fire Department's repair truck from near City Hospital yesterday and drove it several blocks down Indiana-av until he was arrested, here are his own words on the matter: “I left home to go to City Hospital to have my head examined, as I was having severe pains in same. A lady at the hospital told me to go back home and come back tomorrow. She smelled whisky on my breath and I imagine that’s why she told me to go home. “I then went to iOth and Locke-sts and took the truck and drove it until I was arrested. I took the truck because I knew I would be arrested and then would get my head examined as I still was having severe same.”
NEW DEALERS HIT BACK, CALL FARM CONFERENCE
Secretary Wallace Warns Agrarian Depression May Return. SPEECH IS UNEXPECTED Challenges Court Ruling That Farm Production Is Purely Local. By United Press WASHINGTON, Jan. 7. Secretary of Agriculture Henry A. Wallace today expressed fear that dropping of AAA processing taxes and farm acreage control will result in a repetition of the “1921 situation” within a few years. In an unexpected address delivered over the National Farm and Home radio hour, Mr. Wallace referred to statements made by him in the fall of 1934, whan he predicted immediate drops in farm goods prices if processing taxes and acreage control were not continued. “I realize quite well that during the first year or two after the removal of the processing taxes, the result might seem quite happy,” the secretary said. He continued, however, that undoubtedly within a “short tima” the effect of the dropping of the taxes would be noticeable by a marked decrease in farm income. Reviews History of Act Mr. Wallace said: “On March 10, 1933, about 50 representatives of farm organizations from every section of the United States assembled with us in Washington to decide upon a farm program to be submitted to Congress. On March 16, a farm bill was introduced into the Congress and on May 12, 1933, the Agricultural Adjustment Act became law. “When, on May 27, 1935, the National Industrial Recovery Act was ruled unconstitutional by the Supreme Court, farm leaders and the Congress endeavored to profit by that decision and took what seemed to them the necessary steps to strengthen constitutional defects in the Agricultural Adjustment Act. On Jail. 6, 1936, however—24 hours ago —the Agricultural Adjustment Act was declared unconstitutional by a majority of the Supreme Court of the United States, three members of the court dissenting. “Agricultural production. the court says, is ‘a purely local activity.’ Cites Court’s Opinion “ ‘The power to control agricultural production,’ the court says, ‘if it exists at all, must under the Constitution, remain with the states rather than the Federal government.’ The majority opinion of the Supreme Court further observes that regulation of agricultural production under the adjustment act is not in fact voluntary; but even if it were voluntary, it would still be outside the power of the Federal government. Again finally, ‘contracts for the reduction of acreage and the control of production,’ declares the Supreme Court, ‘are outside the range of that power.’ “What I have just given you, I believe, is the heart of the majority and controlling opinion. The dissenting opinion, subscribed to by three of the nine justices . . . declares that the Constitution means what it says when it says ‘that the f>ower to tax and spend includes the power to relieve a nation-wide economic maladjustment by additional gifts of money.’ TWO-CENT RAILROAD FARE ACTION ASKED 4 Texas, Arkansas and Louisiana Carriers Seek Low Rate. By United Press WASHINGTON. Jan. 7.—The first move to make 2-cent railroad passenger fares permanent in this country came today when carriers serving Texas, Arkansas and Louisiana asked the Interstate Commerce Commission for authority to make such rates for seats in coaches effective beginning April 1. Similar petitions from railroads in other western and southern states are expected shortly, while the commission probably will hand down a decision fixing passenger fares the nation over sometime this month. RAILROADS JOIN IN NEW DEAL ATTACKS File Bill to Challenge Validity of j 1935 Retirement Act. By United Press WASHINGTON. Jan. 7.—The parade of New Deal foes was joined today by 135 of the nation's railroads which filed a bill of complaint in the District Supreme Court to challenge the constitutionality of j the 1935 Railroad Retirement Act. Times Index Amusements 14 Births, Deaths 17 Bridge 8 Broun n Comics 19 Editorial 12 Financial 13 Mrs. Roosevelt 8 Pegler n Radio 4 Sports 16-17 State Deaths 15 Want Ads 17-18 Woman’s Pages 6-9
j* Second-Class Mailer ••• at Poitoffice, Indianapolis. Ind.
Invalidation of tke AAA means a return to the conditions of 1921, asserted. Henry A. Wallace, Secretary of Agriculture, in an address today.
Form Farm Board Here; Capital Comments Clash
Expect Roosevelt Comment in Jackson Day Talk Tomorrow Night.
By Uni led Press WASHINGTON. Jan. 7.—Much of official Washington mourned today at the bier of the AAA and looked to President Roosevelt to speak the benediction. The President will be asked at his press conference today for official comment upon the Supreme Court's decision holding the New Deal’s farm act unconstitutional. He will have opportunity for comment in a Jackson Day dinner speech to be broadcast nationally tomorrow night. All—Republicans and Democrats alike—seemed agreed that something must be done. But none seemed to know just what it would be. Republicans talked of a substitute farm-aid program, and some discussed possibility of a constitutional amendment. Senator Sherman Minton made caustic comments today regarding the AAA Supreme Court decision. A lawyer and former public counselor for tht Indiana Public Service Commission, Senator Minton has been 100 per cent New Deal since coming here, “Maybe it would be constitutional if we voted to use Federal funds to further the anti-Administration antics of the American Liberty League,” Senator Minton said. “The Supreme Court has no trouble upholding protective tariffs. “And we could have a war any time and donate to the du Ponts, but Federal funds can only be used for making fat cats fatter. “If this government can't help the common people of the country, we had better know about it right now and fix things so that it can.” Senator Frederick VanNuys, also an attorney, said: “The pronouncement of the Supreme Court is final with me.” To Vice President John N. Garner the decision “was not unexpected.” It was “difficult” for Majority Leader Joseph T. Robinson to understand reasoning of the court’s majority. “It is difficult for me to understand the differences in morals or (Turn to Page Three) STONE DISSENT HELD BOON TOJOOSEVELT Objections Seen Blessing for President. BY LYLE C. WILSON United Press Staff Corresnondent WASHINGTON, Jan. 7. Three Supreme Court justices beat a rattling tattoo of dissent against the majority opinion which cast AAA farm-aid into the ashcan atop the bones and feathers of the New Deal’s Blue Eagle. Their objections seemed to suggest a blessing from the bench for President Roosevelt if he undertakes to carry into the 1936 presidential campaign a challenge to judicial interference with his efforts to cope with emergency conditions. Likewise from the bench was cast the shadow of a man the Republican party might turn to for presidential nomination. He is Justice Owen J. Roberts, a native of politically potent Pennsylvania, who read the majority opinion which junked AAA. Although classed usually as a middle-of-the-road. Liberal, Mr. (Tun to Page Three)
Committee Is to Schedule Production for 1936, Abbott Says. Marion County meetings of farmers holding AAA corn-hog and wheat contracts were cancelled at noon today by Horace E. Abbott, county agricultural agent, upon word from J. H. Skinner, Purdue University, AAA director for Indiana, that all field men of the Federal division would be withdrawn. Defeat of the AAA, however, by the United States Supreme Court proved only a momentary setback, as Mr. Abbott named members of a county planning committee to schedule production of agriculture for the 1936 farm year. The committee will meet Jan. 24 to hear Leon Todd, Purdue University crop expert, outline methods of balancing production within market requirements, conserving the soil and developing the land to benefit farmers as well as give methods of decentralizing and simplyfiing the adjustment procedure. County Survey Outlined The committee named by Mr. Abbott will conduct a survey of Marion County farms in an effort to formulate a little AAA, under state control or another Federal law. in Marion County. Former committee members to meet with the Purdue farm expert Jan. 24 follow: Ralph Ruschaupt, Russell Hutchinson, William Schilling, Anton Ploenhes, George W. Prange, Walter Barbour, Fred Watson, Russell Roberts, Howard Johnson. Albert Stein - meier, Robert Kerr, Herman Snyder, Carl Mahler, Oscar Blank. Howard Mills. Ray Mendenhall, Arthur Scudder, Frederick W. Kortepeter. Walter Dickerson. Olin Walker, Clyde Myer, Harry Richards and Charles Smart, The committee, according to Mr. Abbott, was planned two weeks ago upon advices of the AAA officials in Washington, who apparently were preparing for adverse action by the Supreme Court. Depressing Effect Likely Similar committees with voluntary membership are being organized by county agents througout Indiana. Mr. Abbott said. “The invalidation of the AAA should have a depressing effect on ! farm prices as acreage unlooses and competition among farmers begins. The farmers will have to work harder at less profit, if some remedial measures are not proposed.” Mr. Abbott said. “However, we have been told the last few months that the government has some substitute measures, and we have confidence in the government.” Paid $250,000 in County Mr. Abbott commented that the Supreme Court action w r ould determine where the processing taxes come from—the consumer, producer or processor. “Since some processors admit that they collect the processing tax. to whom will they refund the money the government returns to them?” Mr. Abbott asked. During 1935, the AAA paid more than $250,000 to fanners in Marion County on com-hog and wheat reduction contracts. Despite the decision Mr. Abbott plans to hold a series of conferences with county farmers this week, beginning this afternoon. In the meantime attorneys of the city, who have represented processing tax litigants in Federal court, I were jubilart over the high court victory and the return of $6,000,000 in impounded taxes which are in j prospect with dismissal of the 93 suits pending in Federal court.
FINAL HOME PRICE THREE CENTS
Agricultural Leaders Are Summoned to Make New Plans. ALL PAYMENTS STOP Sessions in Washington to Come at End of This Week. By United Press WASHINGTON, Jan. 7. The New Deal appealed to farmers of America today to help plan for the future of agriculture “in the light of the Supreme Court decision” destroying the AAA. Secretary of Agriculture Henry A, Wallace invited leaders of farm organizations and other agricultural spokesmen to attend conferences "to discuss plans for agriculture.” Mr. Wallace's invitation was the first positive action by the New Deal toward restoring the keystone of its farm recovery program, which a 6 to 3 decision of the Supreme Court in the Hoosac Mills case shattered yesterday. The Administration sped conferences on the possibility of new legislation or substitute measures to replace AAA. but meantime the entire program was in a state of suspended animation. Field Offices Closed Orders went out to all field offices to cease all activities under the program. Benefit payments to farmers were ceased pending further instructions. The question of processing taxes—collected or due—was in abeyance pending Administration decisions on the future. From Congress came challenges to the authority of the Supreme Court and announcements that the legislators would make every possible effort to find a loophole for restoration of the program. Mr. Wallace said the proposed conferences with farm leaders would be held here Friday and Saturday of this week. AAA Officials Confer The step was decided upon by Administration officials after a series of conferences, the last of which was between Mr. Wallace and AAA Administrator Chester C. Davis this morning. The brief announcement said that thus far about 70 persons have been invited to come to the capital to attend the meetings, and that more invitations probably would be issued during the week. “Leaders of farm organizations,” the announcement said, “and other agricultural spokesmen from different parts of the country were invited to Washington by Secretary Wallace today to discuss plans for agriculture in the light of the Supreme Court decision in the Hoosac Mills case.” Leaders to Map Program Observers believed the announcement signified that no definite course for a future farm program will be decided upon until the farm leaders had an opportunity to express their opinions. It was expected that during the meetings all of the various plans now under discussion to replace the AAA will be thoroughly aired. Among these are the export debenture, equalization fee, domestic allotment and state AAA proposals. Senator William E. Borah (R, Idaho) said he thought a general appropriation to care for outstanding contracts with farmers would be within the power of Congress, and that “it is certainly our duty to make a reasonable adjustment of these contracts.” The Senator, a possibility for the Republican presidential nomination, did not discuss the broader phases of the Supreme Court’s action or of a substitute farm program. Believes Payments Necessary “I do not think the decision prevents Congress from making a general appropriation for the purpose of taking care of outstanding contracts or meeting obligations entered into between the citizens and the government under color of law and in good faith,” he said. “I think it creates a condition which the government has the duty and the power to meet by general appropriation. If we have the power, it is certainly our duty to make a reasonable adjustment of these contracts. The farmers have entered into the contracts in good faith and have done their part. “I am speaking, of course, only of such contracts as are outstanding and which were made under the color of law and in good faith.” Meawhile, the nation reacted in confused manner to the drastic decision. In the farm belts, where the AAA had distributed more than $1,000, 000,000 to farmers, the blow was too sudden and too devastating for any clear-cut trend of opinion to have developed. In cities, the nervous uncertainty of markets reflected the lack of sureness of business men as to just what the decision would mean to national economy. In Washington, political ears—those of the New Deal and those of its opponents—were attuned to the country. for from there would come the commands to guide the future. The decision not only wrecked the AAA. but bore portents of death to other New Dead laws. It also. (Turn to Page Three)
