Roosevelt Plan Expands Currency to Stabilize Banks
The Roosevelt administration moves to expand money in circulation to billions through federal reserve bank notes backed by liquid bank assets. The act liberalizes Glass Steagall rules, creates a unified banking system, and requires state banks to join the federal system to reopen. Inflation concerns rise as prices for commodities and securities edge higher. The plan also targets hoarding and authorizes cuts in government spending after banks reopen. Democratic leaders in both houses consolidate power, with a tightened caucus rule and new leadership appointments.
MENTIONED IN THIS ARTICLE
Roosevelt
Congress
Treasury
William H.woodin
Federal Reserve Bank
Federal Reserve
United States
Federal Reserve System
Senate
House
Federal Reserve Board
Senate Confirms Appointments During Brief Inaugural Session
During a short special session on inauguration day the Senate confirmed several presidential appointments. Raymond Moley of Columbia Massachusetts? and William Phillips of Massachusetts are named as undersecretary and assistant secretary of state respectively, with Wilbur J. Carr of New York reappointed as assistant secretary of state. Henry Morgenthau Jr. of New York joins the federal farm board. William F. Stevenson of South Carolina and T. Dwight Webb of Tennessee are named to the federal home loan bank board.
MENTIONED IN THIS ARTICLE
Senate
Raymond Moley
William Phillips
Mass
Hull
Wilbur J. Carr
New York
Henry Morgenthau, Jr
Federal Farm Board
William F. Stevenson
South Carolina
Federal Home Loan Bank Board
T. Dwight Webb
Tennessee
Home Loan Board
Olumbia Ate
Achusetts
Banking Confusion Amid Proclamations and State Orders
Widespread uncertainty marked the banking scene as President Proclamation and state governors orders clashed. Secretary Woodin issued and modified rules about bank openings, clearing houses met but failed to clarify rights and duties. Some banks opened for essential needs and payrolls while scrip faced opposition though local clearance certificates were allowed against sound assets.
MENTIONED IN THIS ARTICLE
New York
Illinois
Woodin
Washington
Japanese Complete Jehol Conquest After Koupeikow Defense
Following Koiso plan, Japanese forces cap Jehol province as Chinese governor flees. After a last stand at Koupeikow pass, Kawahara brigade seizes the position and 250 miles of Great Wall from inner Mongolia to the Yellow Sea. Martial law imposed in affected city as Chinese flee.
MENTIONED IN THIS ARTICLE
Kuniaki Koiso
Jehol
Koupeikow
Great Wall
Kawahara
Inner Mongolia
Yellow Sea
Peiping
Chang Hsueh-liang
China
Maxim Litvinov
Russia
Earthquake Toll Rises in Southern California Ports
The Los Angeles area from Ventura to San Diego endured a severe Friday earthquake on March 10, with 123 dead and over 4,500 injured. Long Beach and Los Angeles suffered the heaviest losses, while fires and water mains added to the chaos as troops and naval ships aided in rescue and aid efforts.
MENTIONED IN THIS ARTICLE
Los Angeles
California
Ventura
San Diego
Long Beach
Walnut Park
Norwalk
Fort McArthur
National Guard
Woodcock Orders Prohibition Bureau Enforcement Shift
Congress allocated 8.44 million dollars for annual Prohibition Bureau expenses but barred wire tapping and liquor evidence purchases until July 1. Amog W. Woodcock orders immediate enforcement changes, targeting manufacturers and transporters, shocking night club operators. Also reports the death of Will R. Wood of Indiana, longtime Republican leader and former Appropriations Committee chair, at age 72 after nine congressional terms.
MENTIONED IN THIS ARTICLE
Wween
Congress
Bureau of Prohibition Enforcement
Amog W
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Edward W. Pickard
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House of Representatives
Henry Rainey
Burns
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Len Kendrick
Wyoming
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Press Pure
Edward Halsey
Chesley W., Jurney
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Ator Tant 4P
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Reed
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W. J. Robinson
New York City
Doctor Robinson
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Ellis’ Island
Moscow
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Kiev
Malthus
Bell Syndicate
WNU
MacDonald
Will R. Wood
Indiana
Mediterranean
Wood
Appropriations Committee
Erry
William Bruckart
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