U S Adopts 34 Model For Gold Bullion Standard
Morgenthau described the United States as operating on a 1934 gold bullion standard after the devaluation profit of $7,979,400,011. Yale’s Fisher urged a permanent federal monetary authority with sole currency issuing power while criticizing the current Fed system.
MENTIONED IN THIS ARTICLE
U. S
Yale
Federal Reserve System
Morgenthau
Washington
United States
Irving Fisher
House
Fisher
Federal Monetary Authority
Roosevelt
Treasury
New York Reserve Bank
Creation of ten member committee for Stabilization Fund
The ways and means committee moved to add an expert ten member committee to assist Secretary Morgenthau in administering the two billion dollar Stabilization fund under the gold devaluation act as part of the $200 million revenue bill. The same day the Senate elections committee ruled petitions seeking the ouster of Senators Long and Overton of Louisiana did not present issues within its cognizance.
MENTIONED IN THIS ARTICLE
Washington
Morgenthau
Ways and Means
Senate Elections Committee
Petitons
Senate
Long
Overton
Louisiana
Committee
Committee Advances Cotton Control Plan in Senate Talk
Washington February 1 committee approval signaled for a compulsory cotton production plan. Senate agricultural committee will meet to decide if gins should be licensed or a prohibitory tax imposed on cotton ginned above a fixed baleage.
MENTIONED IN THIS ARTICLE
Washington
Smith
Senate Agricultural Committee
State Dispensary Bill Advances in House of Delegates
The Virginia House of Delegates passed a bill creating a state liquor control dispensary plan and giving the state a stake in the sale of distilled spirits. The vote was 84 for and 4 against.
MENTIONED IN THIS ARTICLE
STATE
Richmond
Ee Ae
House of Delegates
Tobacco tax cut reduces processing rate to 3.3 cents
The Washington report notes a decrease in the processing tax on flue cured tobacco used for plug and tobacco products. The rate drops to 3.3 cents per pound, affecting manufacturers.
MENTIONED IN THIS ARTICLE
Washington
Feb. i
Rosenbloom Knight Title Bout Postponed To Monday Night
Bad weather forces postponement of the 15 round light heavyweight championship bout between champion Maxie Rosenbloom and Joe Knight of Cairo Georgia from tonight to Monday night in Miami Florida.
MENTIONED IN THIS ARTICLE
Miami
Fla
Maxie Rosen- Boom
Joe Knight
Cairo
Gold supply is announced by Treasury at 84.029 billion dollars
Washington February 1 AP reports the United States gold supply announced by the Treasury stands at 84 029 092 988 86 dollars on the old dollar basis. The figure reflects total holdings in the nation’s gold reserve.
MENTIONED IN THIS ARTICLE
Washington
United States
Treasury
Bear of Oakland and Byrd ship unload winter stores at Bay of Whales
Crews of the Bear of Oakland supply ship and the Byrd flag ship worked at a feverish pace discharging winter stores to the bay ice six miles from Little America after equaling a record run from Dunedin New Zealand to the Bay of Whales.
MENTIONED IN THIS ARTICLE
Bay OF Whales
Antarctica
Mackay Radio
Lindbergh Kidnaping Mystery Sought by Verne Sankey Questioning
Public and federal investigators question Verne Sankey, once linked to Lindbergh case, as they seek a breakthrough. Purvis cites Sankey confessions tying him to prior kidnappings including Boettcher and Bohn while agents pursue new evidence from Chicago barber shop interviews.
MENTIONED IN THIS ARTICLE
Chicago
Charles Augustus Lindbergh, Jr
Verne Sankey
Sankey
Amris Gate Oh Po
Melvin H. Purvis
Federal Bureau of Investigation
Sourland Mountain
New Jerey
Kinkead
Walmsley Gunning For Kingfish In New Controversy
In Sands Point New York Huey P Long and T Semmes Walmsley clash in the hotel lobby amid rumors of a possible physical confrontation. Both political rivals threaten to target each other’s operations as past feuds and recalls loom.
MENTIONED IN THIS ARTICLE
Senator Long
Island
Long
Walmsley
New Orleans
Tulane University
Louisiana
Sands Point
New York
North Carolina Tops Tobacco Tax in 1933
The 1933 internal revenue report shows North Carolina leading tobacco taxes with 208.84 million dollars from manufacturers out of 409.31 million collected nationwide. The state paid far more than all others combined, with cigarette tax gains driving the rise. South Carolina and Florida show smaller, but notable, increases in cigar and other tobacco taxes.
MENTIONED IN THIS ARTICLE
Washington
North Carolina
Internal Revenue Bureau
South Carolina
Florida
House aims for three weeks to wrap session in Washington
Secretary Morgea calls 1934 model of gold bullion standard. Rainey predicts house will finish in about three weeks as it clears a four department supplemental bill and St Lawrence treaty issues. He says there is time for campaigns before November elections. Congress plans a flood control plan and four more appropriation bills.
MENTIONED IN THIS ARTICLE
Washington
Morgeau
Rainey
Congress
House
St. Lawrence
Senate
Satterfield Case Reopened at Solicitor Request
In Goldsboro on February 1 the Wayne County court reopened the Ru fus Satterfield trial for the ambush slaying of Herbert Gries after Solicitor Clawson L. Williams announced new evidence. Louis Sammeth testified that Satterfield may have been whipped near a residence before Grice was killed and stopped at a filling station, despite Satterfield’s alibi. The move surprised defense counsel and could prolong proceedings.
MENTIONED IN THIS ARTICLE
Goldsboro
Rufus Satterfield
Herbert Gries
Wayne Superior Court
R. Hunt Parker
Clawson L. Williams
D. H. Bland
Parker
Louis Sammeth
Timner
Sammeth
Grice
Satterfield
Japanese peace aim stressed by war minister Hayashi
General Senjuro Hayashi, new Japanese war minister, told the AP there will be no Russo Japanese war unless provoked. He said Japan seeks peace and has no preparations for war with Russia, asserting Manchurian dispositions honor treaty obligations to defend Manchukuo. He rejected any Japanese American war speculation.
MENTIONED IN THIS ARTICLE
Tokyo
Senjuro Hayashi
Associated Press Today
Sadao Araki
Hayashi
Russia
Manchuria
Manchukuo
Dollar Near Global Gold Standard Sparks Massive Credit Expansion
Roosevelt devalued the dollar about 41 percent, restoring it to the international gold standard and opening wide potential for credit growth. Banks expect deposits to rise as credit expands, with profits and confidence driving further economic recovery and price movements. The treasury plans a 2 billion dollar stabilization fund and potential use of a 2.7 billion dollar gold profit, while the pound sterling remains a key variable in ongoing international adjustments.
MENTIONED IN THIS ARTICLE
Claude A. Jagger
AP Financial
Associated Press
New York
Roosevelt
Wall Street
Treasury
Weather Across North Carolina Sees Mixed Snow Rain
February weather brings snow in Asheveille and western counties while Raleigh reports drizzle and freezing surfaces. The U S Weather Bureau notes rain in the east with temperatures around 31 degrees in Raleigh, making sidewalks slick despite general normal traffic.
MENTIONED IN THIS ARTICLE
Raleigh
North Carolina
United States Weather Bureau
Asheville
Hatteras
Wilmington
High Point
Charlotte
Greensboro
Commodities Rally as Gold Price Sets New Benchmark
New York reports a broad stock advance after a presidential proclamation fixed gold at 35 dollars an ounce and devalued the dollar to 59.06 percent of its former parity. Mining shares led gains while cotton and rubber rose, and traders anticipated further currency moves and a stabilization plan to support securities.
MENTIONED IN THIS ARTICLE
New York
Vances
Rency
Wall Street
Washington
London
Dollar Advances Over Gold Franc
The dollar rose to 59.06 per cent of its former parity, trading above the French gold franc and London sterling. New York stock averages climbed over 4 as trading intensified, with many issues reaching new highs. Bonds and most commodities advanced while bankers awaited treasury guidance on gold purchases for shipment to New York.
MENTIONED IN THIS ARTICLE
Associated Press
Paris
London
New York Stock Exchange
Chicago
New York
Wall Street
Treasury
The
Sounds Challenge To Heavy Industry by Launching Works
Philadelphia February 1 The Pennsylvania Railroad will start a 877 million public works program next week. About 25,000 railroad workers and 8,500 industrial plants in five states will provide a year of employment, according to President W W Atterbury.
MENTIONED IN THIS ARTICLE
Philadelphia
Pennsylvania Railroad
W. W. Atterbury
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Stock Mart
Southern Resort
Wrightsville Beach
N. C
France
Secretary of the Treasury
the Treasury
Lindbergh
Huey Long
Ray Moulden
Washing News
Tod
P. Long
Moulden
Kingfish
Alic Burke
First Ward
Crescent City
Burke
Esident
Glenn Babb
Associated Press Foreign Staff
Ameri Securities
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