Indianapolis Times, Indianapolis, Marion County, 13 October 1938 — Page 14

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Hint Social Security Change

‘To Fight Pension Schemes; ~ Monopoly Policy to Be Mapped

NATIONAL AFFAIRS

SOCIAL SECURITY extension plans studied.

° MONOPOLY committee to plan further work.

WHITNEY case report may bring stock reforms.

. ROOSEVELT may go to Hyde Park Saturday.

#TWO-PRICE” food surplus plan backed.

FCC SHOWDOWN on job policy expected. - (Resume of Pension Schemes, : Page Six) WASHINGTON, Oct. 13 (U. P.).— The New Deal was developing a first line of defense against pension schemes today. It planned to amend and liberalize existing social security legislation early in the next Congress. Final form of Administration amendments probably will be determined by President Roosevelt. The Social Security Board has prepared a seven-point amendment. ~ program for expansion and liberalization of pension and child-aid provisions of the act. : There has been no public estimate of how much costs would increase after proposed changes were made. Outstanding among them is an amendment for: - «Extending the act’s coverage to include farm laborers and domestic servants, self-employed, employees jn the . Federal Reserve System banks, American seamen and persons employed by charitable institutions.” 16 Million More That amendment would add approximately 16 million persons to the old-age insurance rolls and there is likely to pile up around it tremendous pressure from both sides. The extension of a pension tax and the bookkeeping involved to the nation’s farms raises some nice political questions. But the evidence of primary eleetion voting this year strongly supports the theory that the pension snowball is rolling fast and getting bigger. The typical and best advertised plans are unselective in that they merely fix an age limit and propose that all persons who reach it shall go on the pension payroll at from $120 to $200 a month.

Amendments to Be Studied The Social Security Advisory Council will meet Oct. 21 to consider amendments tentatively drafted by the Social Security Board. These _include application of the act to farm laborers and others. The remaining six points of the Board's tentative program are as follows: 1. Provide benefits for aged wives and widows and for young children of insured persons dying before reaching retirement age, 65. 2. Commence payment of old-age insurance annuities at an earlier date than Jan. 1, 1942. Officials said the payment date probably would be moved up to 1940 which by coincidence, will be a presidential election year. 3. Broaden the minimum base of $10 to provide larger benefits ior those retiring during the earlier years of the system. The scale runs now from $10 to $85 a month. It might be altered to run from $30 to $60 a month, reducing the maximum but giving more persons more money by increasing the base pension figure. 4. Raise the percentage of maximum Federal grants for dependent children from one-third to one-half of the total cost of the project. 5. Simplify unemployment benefit procedure. 6. Achieve greater administrative economy; develop simpler methods of calculating and paying benefits; and reduce detailed work required of employers in complying with unemployment ‘compensation provisions of the act. Prof. J. Douglas Brown, Princeton economist, heads the Social Security Council, which was established in 1937 to study perfecting amendment of the existing social security organization.

‘Monopoly Committee To Make Probe Plans

WASHINGTON, Oct. 13 (U. PJ). ‘'—The Temporary National Economic Committee meets today to survey the progress of its monopoly study and, perhaps, to fix the subject and date for public hearings. Since its creation last spring, the 12-man executive-legislative committee has spent most of its time ~ attempting to outline the field of its investigation, to apportion the work among the six executive departments involved in the survey, and ‘to convince business it is not on a “witch hunt.” There was no indication that the group yet has evolved a definite pattern for its inquiry, which is to last two years and for which an jnitial $500,000 appropriation was provided. Chairman O’Mahoney (D. Wyo.) said the meeting was called to “learn what’s what,” and Senator King (D. Utah) said he wanted to “find out what the executive departments have been doing.” The actual work of the inquiry

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Three Phases Studied

Their activities to date indicate that the inquiry will be a general study of existing economic condi-

tions, rather than an investigation of specific industries charged with monopolistic practices. The inquiry has taken three forms: 1. Field surveys of “topics and functions” rather than of industries. The committee has: issued a number of subpeénas- but has refused to reveal how many. A study of the ‘Goyernment’s patent policies as they relate to the general economit situation also is part of this phase. = 2. Questionaires to. trade associations and insurance companies. About 2600 questionaires have been

sent_out, 2200 to trade groups and |

400 to insurance companies. 3. Organization of information already in the possession of ‘Government departments, including data on prices compiled by the Bureau of Labor Statistics. Commerce statistics on the integration and concentration of financial control, on foreign trade, including the reciprocal tariff policy of the Administration, on trade 1honopolistic and financial practices, and on the anti-trust laws. While the departments have worked on - the statistical - phase; Senator. O'Mahoney has assured business that no attempt would be made to engage in a ‘“smear” campaign. In a speech before the New York Board of Trade last Tuesday he invited business to “make its case” before the Committee and promised careful consideration of its suggestions.

Whitney Case Report May Ask Reforms

WASHINGTON, Oct. 13 (U. P.) — The Securities and Exchange

i s

’ 0 fle | Tufte

Commission’s report on the Richard Whitney case, it was learned today, may serve as a basis for new Wall Street reforms. Nearly completed, the report is being prepared by Samuel O. Clark Jr., the trial examiner who presided over the SEC’s hearings into the Whitney firm’s failure. He is peing assisted by Gerhard Gesell, SEC counsel who conducted the investigation. Some sources saw an indication of further reforms for the financial

‘community in recent meetings between Mr. Clark and Mr. Gesell,

and Assistant Treasury Secretary John W. Hanes. It was understood that they conferred on the Whitney case and the forthcoming report. Mr. Hanes, a former Wall Street commission broker and former SEC commissioner, led the fight that resulted in the reorganization of the Stock Exchange's administrative machinery.

Roosevelt May Go To Hyde Park Saturday

WASHINGTON, Oct. 13 (U. P.).— President Roosevelt is expected to leave Washington Saturday for his

home at Hyde Park, N.Y, it was learned at the White House today. : Mr. Roosevelt is expected to reach

‘Hyde Park Saturday night and re-

main there about a week.

Morgenthau Approves

Surplus Food Plan

WASHINGTON, (Oct. 13 (U. P.) — The New Deal {developed plans rapidly today for a “two-price” system under which the Government. would finance the sale of food and clothing to low-income groups at reduced prices. Treasury Seeretary Morgenthau today indorsed the plan proposed by Agriculture Secretary Wallace

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“for the sale of surplus cotton and

food products in this country at low prices to increase domestic consumption. “That will be the best money ever spent,” Mr. Morgenthau said. “I don’t know where it could be spent to better advantage.” Secretary Morgenthau said several conferences attended by Secretary Wallace, Dr. Thomas Parran, surgeon general of the U. S. Public Health Service, and himself were held on the proposal in May and June.

Showdown on FCC

Personnel Expected WASHINGTON, Oct. 13 (U. P)). —Chairman Frank R. McNinch today ordered a meeting of the Federal Communications Commission for tomorrow, apparently for a showdown on conflicting personnel policies. It was reported reliably that Mr. McNinch requested the resignation of FCC General Counsel Hampson Gary, former Minister to Switzerland and State Department Counsel during the Wilson Administration. Authoritative sources said Mr. Gary refused to resign and claimed support for his stand from at least two commissioners. / Late last week, Mr. MecNinch’s move to remove about 60 high ranking commission officials from civil

service status precipitated a severe|

internal controversy. It resulted in a public statement by Commissioners T. A. M. Craven and George Henry Payne asserting that Mr. McNinch’s move was made without discussion within the commission. It was reported that Mr. Craven and Mr. Payne would support Mr. Gary at the Commission meeting.

SHREVEPORT GETS BACKYARD OIL FIELD

SHREVEPORT, La., Oct. 13 (U.

P.).—A backyard oil field today

caused the City Council to rush plans for a general ordinance to regulate drilling. A stop-gap measure introduced by councilmen fixed a $1000 fee for drilling permits within city limts and required the posting of a $100,000 bond by applicants. >

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GIVEN STAMP PRIZE

American Philatelic Society Meets in New Orleans.

NEW ORLEANS, Oct. 13 (U. P.).—Howard Lehman of New York City today was awarded the first grand prize for the “most meritorious” exhibit at the 53d annual convention of the American Philatelic Society. :

Other major prizes in the senior

exhibition were awarded to: Charles|

Redler, New York City, first honors in the championship class; Paul B. Williamson, New Orleans, the H. N, Cromwell award, and Arthur Van Vlissinger, Lake Bluff, Ill, the postal markings trophy. Mr. Lehman entered 12 frames on the first and second issues of Austria and Lombardy Venetia. Mr. Redler’s exhibit was composed of Confederate stamps, Mr. Williamson, a geologist and football handicapper, won the Cromwell award for highly detailed research on the 1867-77 stamps of Austria, the socalled “whiskers issue.” Mr. Van Vlissingen’s award was for a specialized study of cancellations used by the foreign division of the New bs Postoffice between 1870 and 18717. :

PRINCESS HAS SETBACK

THE HAGUE, Oct. 13 (U. P.)— A slight attack of jaundice is retarding Princess Juliana’s progress in recovering from her recent case of influenza, it was announced today. Her doctors insist she must avoid all exertion.

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