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Newspaper
The Wakefield News
Location
Wakefield, Michigan, United States of America
Date
Jun 16, 1932
Page
2
Entry noting mail matter of second class in Wakefield Michigan under act of Congress March 38 1870. Includes subscription rates and the imprint Bed Prezise editor and publisher.
The Marquette Mining Journal reports Gogebic county prospective candidates Thomas J. Landers of Ironwood and incumbent Charles W Richardson of Marquette seek the Republican nomination for state senator in the thirty first district. Richardson, a longtime worker and engineer union member, faces Landers who previously served Gogebic county as prosecuting attorney and adviser to local governments. The piece notes limited prior legislative activity by Richardson and suggests Landers should consider a lower state seat to better serve Gogebic county. It also discusses a potential old settlers picnic planned for Labor Day and cautions against funds misuse, recommending a modest community celebration next year when prospects improve.
Detroit insiders describe a long luncheon at the Detroit-Leland Hotel where Alexander Groesbeck, Frederick Green, George Welsh, and Merlin Wiley discussed party strategy, potential candidacies, and upcoming races. The casual gathering touched on governorship, attorney general, and U.S. senatorship while hinting Groesbeck’s possible return to public life and Green’s possible campaign.
Alex J Groesbeck three time Michigan governor says he will not seek office this year and argues the Eighteenth Amendment is not the issue though he has strong views on it. He contends the real issue is good government and effective leadership.
The statement praises sound economical and efficient government along American lines. It notes the great governor of Michigan, regarded as the state's best, declines to run again, marking a loss for the state.
Bumper crops and rising meat prices boost farmer optimism in the northwest. Farm produce would fund railroad needs for replacements and equipment, spurring steel mills and mining activity on the Gogebic range. If the cycle continues, winter arrives with ore piles as high as two months ago when mines shut down.
Grand Rapids Herald reports Judge William Brown urged against using taxpayers to support Henry Marshall for life after a bank robbery murder. He argued 40 years of housing and care costs, noting Michigan history favors parole for violent criminals and that harsher penalties, possibly the death penalty, better fit the killer.
Forbes argues corporations should repay stockholders surplus cash to ease private finances, boost stock prices, and aid banks. cites 1926 1930 securities sales totaling over 29 million dollars and envisions benefits across individuals markets and monetary regions while noting mixed political prospects for an international silver conference.
Western senators led by Borah argued against economic conferences after Lausanne but supported a conference on silver restoration. Congress was urged to appropriate $40,000 for expenses toward a London hosted monetary conference including silver, despite mixed opinions on its success.
A Senate committee urged state based unemployment insurance with voluntary or compelled industry reserves, and deemed federal unemployment insurance impractical. It suggested limited federal help via tax deductions for contributions, while some members favored a larger federal deduction. The Democratic platform echoed state action.
Senator McKellar of Tennessee rails against federal salaries, stating the government payroll reaches 1.35 billion dollars yearly. He argues it would require the total value of cotton, wheat, and corn crops at current prices to fund the federal salary list, illustrating the scale of payroll costs.
The column explains how the twelve Federal Reserve Banks operate as bank lenders to member banks. It describes rediscounting of acceptable paper, current rediscount rates, and how a lower rate eases credit while a higher rate tightens it, affecting commercial borrowing and bank liquidity.
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