Turning point or banking crisis signals a return to calm
A columnist notes the bank holiday and Roosevelt proclamation mark a shift toward government action on deposits. Talks of national scrip or clearing house certificates appear as potential temporary remedies while Congress prepares banking legislation and debates decline in hoarding. Debates extend to Cermak and local school budget reporting.
MENTIONED IN THIS ARTICLE
Congress
Zangara Indicted for Murder as Mayor Cermak Dies
Giuseppi Zangara, who tried to shoot President Roosevelt, is indicted by the Dade county grand jury for murder in the Chicago mayor Anton J. Cermak's death. Cermak died after a bullet spree at Bay Front park. his body lay in a flag draped coffin before Chicago burial.
MENTIONED IN THIS ARTICLE
Payor Cermak
Zangara Vwi
Florida
Cermak
Chicago
Zangara
Miami
Fla
Giuseppi Zangara
Roosevelt
Dade County Grand Jury
Anton J. Cermak
Bay Front Park
Jackson Memorial Hospital
Mfe
Sa Id
Grand Jury
Reddhan
Sion
Vafter
Words That Shape Our Thoughts On A Starry Night
A reflection on language and perception contrasts hot hurried thinking with a wider view. The author cites a Columbia University time clock measuring earth ages, noting World War as a tiny pinprick, and urges stepping outside to see vast perspective under the stars. Copyright 1933.
MENTIONED IN THIS ARTICLE
Smith
Con
Sidora
Emerson
Columbia University
God
Indictment Sought for Hartzell in Sioux City Late May
Oscar M. Hartzell, linked to the Drake estate promoter, faces a potential indictment in Sioux City late May. Federal District Attorney Harry M. Reed said he met in Washington with the attorney general's office on the case after Hartzell was deported from England as an undesirable and arrested on arrival in New York on a mail fraud charge.
MENTIONED IN THIS ARTICLE
Waterloo
Oscar M. Hartzell
Drake
Sioux City
Harry M. Reed
Washington
Hartzell
England
New York
Farley Names First Assistant Postmaster General
Postmaster General Farley announced the selection of Joseph C. Omahyney a Democratic National Committeeman in Wyoming to be first assistant postmaster general.
MENTIONED IN THIS ARTICLE
Washington
Farley
Joseph C. O’mahoney
Wyoming
Roosevelt urges taxes cuts and debt relief plan
President Roosevelt addressed governors at the White House outlining tax reductions, a national mortgage foreclosures policy, and coordinated relief work. He said the plan would use government bonds and new accounts to stabilize money and pledged to coordinate state efforts with a federal fact finding body. Governors pledged loyal support and urged proclamations of confidence.
MENTIONED IN THIS ARTICLE
Washington
Roosevelt
White House
Reserve Bank
Perkins
Lewis Douglass
James H Perkins
National City Bank
Perzins
Scrip explains new emergency currency system in brief
New York bankers prepare clearing house scrip as emergency currency issued by a group of banks rather than a single institution. Certificates tied to deposits would replace old currency for cashing checks and paying bills, with denominations from 1 dollar upward.
MENTIONED IN THIS ARTICLE
NEW York
New York Clearing House Association
Mortimer Buckner
Clearing House
Byers push for 25 percent cut in levies across districts
Iowa State Senator Frank C. Byers defends a Senate passed tax relief bill that mandates a 25 percent reduction in total millage levies for 1930 across tax districts. He says the measure will lower tax loads and urges readiness from boards, noting existing reductions and state assessment adjustments.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Senate
House of Representatives
Frank C. Byers
Des Moines
Byers
Linn County
Iowa Senate
House
Boards of Supervisors
Stepanek
Gazette
Linn
Sears Ries
Searse
Pansk
State Board of Assessment and Review
Iowa Holiday to Remain in Full Effect
Des Moines Iowa plan keeps the banking holiday in force with all banks closed except for change and safety vault access. The state considers a restricted withdrawal reopening using clearing house scrip backed by bank assets. State Banking Superintendent L A Andrew says Iowa leads in bank stabilization to protect depositors and debtors.
MENTIONED IN THIS ARTICLE
Iowa
Des Moines
Roosevelt
L. A. Andrew
Andrew
Congress to Take Up Scrip Bill Thursday
Congress prepares to extend the modified banking holiday proclaimed by President Roosevelt and to ratify the executive action with a scrip bill. Leaders vow to enact a banking and economic program, including powers to issue money and compel bank securities as collateral.
MENTIONED IN THIS ARTICLE
Congress
Washington
Roosevelt
Senate
House
Stig
Senate Democrats
Costigan
Colo
Long
McGill
Kansas
Henry T. Rainey
Rainey
Joseph T. Robinson
Ark
Coolidge
Hoover
Woodrow Wilson
Robinson
Comptroller
Henry B. Steagall
House Banking and Currency Committee
Woodin Allows Banks To Reopen For New On Demand Deposits
Washington AP report states Secretary Woodin issued regulations under the president’s bank holiday to permit banks that were lawfully taking deposits before March 6 1933 to reopen and accept new deposits payable on demand with withdrawals unrestricted. The measure aims to restart ordinary banking operations while preserving emergency controls.
MENTIONED IN THIS ARTICLE
Washington
Woodin
Ito
Federal Reserve
United States
Federal
Six Functions Of Bankers From Woodin Statement
Treasury department notes outline six banking functions to support shipments of food and related needs during the bank holiday period. Rules restrict gold disbursement while allowing open access to safety boxes and continued cashing of U S Treasurer checks. Banks may accept various payments and make change, with safeguards on gold certificates.
MENTIONED IN THIS ARTICLE
Treasury
Department
Woodin
United States
Federal Reserve Banks
Phoh
TN Noe
Admi
Washington
New York
Secretary of Treasury
Roosevelt
Bank Holiday Spurs Cash Sales at Cedar Rapids Stores
Cedar Rapids shoppers loosen purse strings as nationwide bank moratorium eases. Merchants report strong Saturday sales especially in women's wear. cash receipts exceed earlier averages while few checks appear in church collections. A minister receives Sunday offerings in coins, reflecting a cash favored trend. Motion picture houses unaffected.
MENTIONED IN THIS ARTICLE
Cedar Rapids
New York Near Ready to Circulate Scrip for Payroll Needs
Treasury officials in Washington and New York indicate a quarter of a billion dollars in New York clearing house scrip is ready to circulate once permission is granted. The plan aims to resume commercial transactions quickly with $5, $10 and $20 notes, $1 decisions pending. Local issuance expected by Friday or earlier.
MENTIONED IN THIS ARTICLE
New York
Secretary of Treasury
Washington
American Bank Note Company
Clearing House Committee
Also Mentioned on This Page
Verne Marshall
the Peoples Church
the Gazette
The
Joseph Fort
Newton
Democrats
Bankers
Adeline Taylor