10 Mar 1933
Page 1
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Newspaper
The Montana Standard
Location
Butte, Montana, United States of America
Date
Mar 10, 1933
Page
1
The banking crisis and the suspension of gold payments push the United States toward a unified national banking system under federal control. President Roosevelt’s inauguration reinforces public confidence as the nation faces reparative measures, balancing local autonomy with centralized regulation and liquidity guarantees.
Secretary Woodin said treasury policy aims to reopen sound banks as rapidly as possible inviting applications for reopening. He noted information gathering from banks will take time and no reopenings will occur before Saturday March 11. Regulations under the emergency banking act would be published immediately.
President Roosevelt presented to congressional leaders a bill proposing about 500 million dollars in reductions in federal expenditures. The cuts would target veterans' appropriations and salaries. Senator Robinson said a budget message to Congress would urge substantial reductions in pensions disability allowances and emergency officers retired pay, with salary cuts likely as part of the plan.
President Roosevelt extended the national banking holiday indefinitely after signing the emergency banking bill granting broad powers. Senator Glass said the move aimed to shelter state banks under the federal reserve and determine how many banks should be opened, as Congress moved swiftly to expand currency and reopen sound banks.
Washington March 9 7 The banking developments timetable shows the president and Congress leaders closing a conference after pledges of support for emergency legislation. Roosevelt at desk for final conferences at 9 15 and 10 30 revises his message to Congress.
The 73rd Congress convened in extraordinary session with Democrats in control. Henry T. Rainey of Illinois was chosen Speaker of the House as the body organized swiftly under President Roosevelt’s influence. The Great Western Sugar Company announced continuation of the 1932 beet price agreement, while Mountain States Beet Growers’ Marketing association and related groups prepared to report further actions.
J F Hendricks, superintendent of Warm Springs game farm, spoke to the Sportsmen's Club of America in Chicago on Feb 16. He presented Montana as huntsmen and fishermen paradise and a great scenic spot, aided by Dr John A Donovan wildlife photos.
Eleven tons of gold arrived in eight airplanes from Amsterdam tonight at Le Bourget Airport Paris. Three tons were sent by air to the Bank of England in London.
The proclamation extends the March 6 1933 bank holiday and declares the continuing national emergency. It confirms and continues all terms and provisions of the March 6 1933 proclamation and related orders in full force until further notice by the president.
Congress approves emergency banking legislation granting President Roosevelt broad wartime powers to regulate banks. The plan includes expansive federal reserve notes, a licensing system, conservators for weak banks, gold embargo continuation, and rapid depositor asset distribution. A Reconstruction Finance Corp role aids bank reorganization.
State funeral rites honor United States Senator Thomas J. Walsh in Helena Montana. Crowds gathered at St Helena cathedral and the capitol to view the casket and attend a solemn requiem mass.
The forest service announced a 50 percent hike in national forest grazing fees for Montana and northern Idaho cattle and sheep owners. Cattle pay 144 cents per head per month and sheep 4 cents per head per month, with two installments due 15 days before stock entry. More than 1,900 cattle and 475 sheep herds in Montana, plus Idaho owners north of the Salmon River, are affected.
Montana forecast calls for fair conditions in the east and unsettled weather with rain or snow in the west. Friday will bring warmer temperatures east of the divide with similar trend on Saturday.
The McTaggart-for-Mayor club held its first primary rally at 425 East Park Street with a capacity crowd that overflowed into the street for over two hours. Speakers urged support for Mayor McTaggart and warned that an untested city administration could bring wreck and ruin. Alderman Leo Boland chaired the event. other speakers included Edward O’Keefe, Mary O’Hagan, John Cunningham, Edna John O’Keefe, and Margaret Patterson.
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