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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (March 10, 1933)
Medford Ma Paid-Up Circuiattoa who P? for i&ait oewspapaa sr b oe pzoapeeZt lot tit adsr iUar i. 8 O -:.-cult!oo is 210 a? sl.-Ciialion. Fats Qewapr it i. a. O. Twenty-Seventh Year MEDFOED, OREGON, FRIDAY MARCH 10t 1333. Ml K! The Weather Forecast: Rain tonight and Satur day. Little change in temperature. Temperature: Highest yesterday ft? Lowest tlili morning ,... SI IL TRIBUNE HETI o(W IB1IT Comment on the Day's News By FRANK JENKINS. , PRESIDENT ROOSEVELT a ska, anl RECEIVES, practically dictatorial power to "open forthwith such bania as hate already been ascertained to be in sound condition- and other such banks as rapidly as possible; and authority to reorganize and reopen such banks as may be found to re quire reorganization and put them on a sound basis." WHAT does that mean? Nobody at this moment can say. But it must mean that some banks will reopen almost immediately and that others will not. That raises another question: What will happen to the banks that DON'T open? OBVIOUSLY enough, the mark of doubt will be placed upon them. Such confidence as existed in them before will be gone. If they under take to reopen, they must face runs. Unless they have money enough on hand when they ARE opened to pay their deposits dollar for dollar, they will fail. If they fail, confidence In the bsnking sltustlon will be still further unsettled. AS THESE words are written, the whole situation Is in doubt. But remember this: The purpose of this emergency legislation Is to RESTORE confidence in the banks not to destroy it ut terly. If these banks that are not permitted to reopen Immediately are permitted to fall, with consequent further loss to depositors, confidence in the banks will be gone. So It must follow that plans are in mind to PREVENT the failure of theas hanks that are not reopened imme diately, ' Otherwise, the whole program win be futile. Confidence- In the bank ing situation CAN'T be restored by permitting further banks to fail. SO, AS these words are written, which is late Thursday evening, about all that ean be said Is that we must keep our heads and retain confidence in the new leadership that has taken control of financial affairs In this country. Its purpose, as we know, la to re store confidence. Confidence cant be restored by permitting further banks to fall, with consequent losses to stockholders. So there must be confidence Iri the minds of these leaders that the steps they have taken will PREVENT fur ther failures. With that assurance we must re main content until we know mere. JUST what has taken place already? Well, it is obvious that INFLA TION of the currency, long talked of. has finally been brought aboufe. That fact la reflected In rising prices of basic commodities, such as copper snd sine. Why do prices of these commodi ties rise? It must be because people feel that the value of money has been lowered, so that more of it must be obtained In exchange for commodities offered for sale. That Is what Inflation of the cur rency, which means making money cheaper, means. 4-- T1LL that do harm or good? If It la generally agreed that rle In prices of basic commodities would be a good thing for business. If inflation can bring about such rise, and check it in time, so that it will not go too far, the effect in the way of stimulation of business ac tivity will be exceedingly beneficial. The new currency Isn't fiat money. It to backed by definite, TANGIBLE assets. As It serves Its purpose, It will be retired. It accomplishes what is known as controlled Inflation. So there is great reason to hope that it will be bene ficial. HOW does Inflation work: Well, here Is an instance: A business man remarked yesterday morning to his wife: "I see that in flation money is finally here." And she answered: "If that's true, let's tnke our money and take a trip be fore the cost of travel goes up. Thai is to say: Let's spend our money while it will still buy a lot of the things we want. IP- EVERYBODY feels that way about it, people will want to spend their ifCocttnued on Page $igbj ROOSEVELT ASKS WIDE POWERS IN EFFORT TO HALT COUNTRY'S LONG-CONTINUED DEBT PLUNGE Message to Congress Says Immediate' Action Imperative Would Cut Six or Seven Billion From Payments to Ex-Service Men and Federal Salary Roster Budget Balance Possible Within Year Protests Flood Solons WASHINGTON, March 10. (AP) Senator Robinson of Arkansas today introduced the administration's sweeping economy, bill providing for sharp cut In veterans benefits and federal salaries. Including members of congress. He estimated It would save "in excess of 00,000.000. PORTLAND, Mar. 10. (fl The President's proclamation extending the banking holiday, left operation of Oregon banks in the same condi tion it has been for the past three days, according to federal reserve f ftcers here and H. V. Alward, presi dent of the Portland clearing house. Even before word reached Portland that President Roosevelt had extend ed the holiday period indefinitely. Governor Meier had proclaimed to day and Saturday leai holidays, con tinuing the period that began March 2. WASHINGTON, March 10. (AP) President Roosevelt called upon con gress today for dictatorial power to reduce veterans costs and federal sal aries, promising that if it complies, "there is reasonable prospect" for a balanced budget within a year. The Democratic phalanx of house and senate, though not without dis sent, set out at once to do his bid ding, expecting thereby to have hun dreds of millions saved the treasury, which the president said will have piled up a five billion dollar deficit by June. "I am pointing a definite road," declared Mr. Roosevelt, and asked that he be allowed to take it "at once without even waiting for the begin ning of the next fiscal year. Dispute Looms. Even before the message could be read to senate and house, threats of a determined dispute were in evi dence. House Democratic leaders ar ranged , tn, ,hinrtjtha4r.pepooderant majority in caucus to get the bill through by Wednesday, if possible. After hearing President Roosevelt's second message, the senate today re cessed until tomorrow to carry out the program. The new legislation, as recom mended by- Mr.- Roosevelt wilt lay down broad principles for pensions and other veterans' benefits, but will rest with him the important au thority over administrative details. He wilt aim to slash costs caused by compensation for non-service con nected disabilities. "We are unanimous, he said, "in upholding the duty of the govern ment to care for those who suffer in Its defense and for their widows and orphans." Protest Hasty Action. American Legion posts and other veterans organizations flooded mem bers of congress with protests against moving at this time to grant such wide powers as sought by the presi dent; but Democratic leaders ex pressed confidence he would have his way eventually. As to salary cuts for federal em ployes, hs sought repeal of the pres ent furlough plan and proposed flexible authority for himself to adjust compensation. At the capitol. Speaker Rainey told reporters the president .expected to reduce government coats between six and seven hundred millions, If con gress gives him the authority sought. As to the present billion dollar outlay annually for veterans, Mr. Roosevelt was said to expect to re duce It over 279,000.000; reduce sal aries about $135,000,000, and to ef fect savings in reorganization of bu reaus in excess of 1200.000.000. Must Put .tottse in Order, In his message, slightly longer than that record brief one of yesterday asking the banking law. the presi dent based his argument for the new power on the importance of main taining governmental creo't, saying. "Our government's bouse is not in order and for many reasons no ef fective action has been taken to re store it to order. "Upon the unimpaired credit of the United States government rest the safety of deposits, the security of In surance policies, the activity of in dustrial enterprises, the value of our agricultural product and the availa bility of employment The credit of the United States government defi nitely affect these fundamental hu man value. It, therefore, becomes our first concern to make secure the foundation. National recovery de pends upon It." SAW FRANCISCO, Mar. 10- State officials and bankers of the far west moved to adjust their plans with national developments in the banking situation today. Governors of states in which local bank holidays would hare expired ex tended Che moratorium periods, in most oases permitting limited with drawal of deposits, to conform wtth President Roosevelt's new proclama tion. Probabili ty of im med ; a te issuance of clearing house certificates on any wide scale faded from the picture. The 1x5, Angeles clearing house asao- f u, proved that confidence and c:iion, which Had prepared to to on! credit alone csn keep the mechanism a s:rip basis this uornlnj. de::dedof commerce fuactlonitw witls al to wisijhcld actton lodginitelv. Ai&jz. clodL-UX 'JiviS $15,000,000 scrip issue was also be ing held back by Seattle banks. WASHINGTON, Mar. 10. (P The text of President Roosevelt's economy message follows; The nation Is deeply gratified by the Immediate response yesterday by (Continued on Page Four) I0SEVELT -FIRM SUT POLITE WHEN POINT IS SOUGHT By PAUL MAtLON. Copyrighted by M (Tin re Newspaper Syndicate. WASHINGTON, March 10. Mr. Roosevelt presses you hard but po litely In his personal dealings. It is very difficult to get away from hlra without following his wishes. The personal story of how he used third degree methods on William Woodin to get him Into the cabinet is a good example. Woodin held out through the night. He nearly fell asleep at 3 a. m. He pleaded that h;deired to remain at his business. Finally he demanded 48 hours to think it over. He was going out the door. Mr. Roosevelt called him back, saying: "Make it 7 a. m. I have to know by then. ' Woodin went home and walked the floor for four hours. He decided it was his duty to accept. Mr. Roose velt then let him go to sleep. It Is quite possible that if Mr, Roose velt had waited 48 hours the answer would have been "No." Another thing about Mr. Roosevelt is that he is NOT thin-skinned. He can take it. Associates who attended two re cent dinners with htm commented on tha fact. At the Inner Circle din ner In New York and at the legisla tive correspondents' dinner in Albany his hide was blistered In semi-good-natured skits. His relations with AI Smith, for one thing, were handled rather roughly. On each occasion he made a speech, coming right back at those who were kidding him in the same vein they had selected. . Sudden British conversion to an arms embargo was not so generous as it sounded. The Jape have been building mu nitions factories for two years. They have nearly enough now to accommo date their needs. The Chines have no factories. They must import H arms and muniticna. Pot that reason the new adminis tration, as the old, will scotch that subject. , The British action was extremely embarrassing to the state department. We sought an embargo in a confi dential diplomatic way more than a year ago. At that time Japan did not have the munitions work the now has. Britain could have made it uncomfortable for our diplomats, had the change of administration not been under way here. (Continued on Page Twelve) BUSiNESSlTANDS BANK SHOCK WELL NEW YORK, March 10. The Weekly Mercantile Review of Dun Bradstreet, Inc., ssld today that buslnesa ana trade met tha week's bank situation "without leav ing the disastrous consequences In tt trail Which at first seemed In evitable." "Regardless of the lack of a circu lation medium." the agency asserted, "a strong aptut to carry on domin ated all ramification of business en deavor, aa the reattratton became more pronounced that the pressing period of monetary perturbation would result In to devaulatlon of the American dollar. The fact that the affair of dally itfe were carries! on with tut minor restrictions for almost an entire week. In more than the theoretical Expect Sound LEGISLATURE ACTS TO SI SEARCH FOR DOPE RUNNERS CENTERS IN KLAMATH ZONE DENVER. Mar. 10. UP) belief that the two men who attacked border patrolman near Remnghara, Wash., yesterday may have been the two men ' the federal government charges with ktdnaping Charles Boet tcher. if., wealthy broker, caused po lice here today to seek cooperation of Pacific coast authorities In the hant for the snspecls. Police Chief A. T. tiark said there mi a possibility the attackers of Patrolman E. L. Baliinger may hfie Been Verne Sankey, former Canadian railroad engineer, and Gordon Elk born, sought as the actual abductors of Boettcher. The broker was held for nearly It days. His muftt-mlt-Itonaire father. C. K. Boettcher, paid 60,030 ransom. ' State police received a report tha morning that a blue coupe wtth brown top, answering the descrip tion of the one driven by the two outlaws, who kidnaped and heat If. B. Customs Patrol Officer E L. Bellinger, waa seen going through Dorrls, CaliU early yesterday afternoon, headed It also waa Iearnedsday. that Bel linger's captors, when they hand cuffed htm to the tree In .the Si kiyoua, took hia purse containing S3. One of the men returned and shoved a 10 bill In his coat pocket, wttn the comment: "Here, buddy! You might want to eatf" SEATTLE,-Wash., March 10, (AP Still bearing cuta and brulaes and physically exhausted, E. L. B!SiB ger, United States customs patroltng officer operating near the Canadian line.- was recovering today from a brutal kidnaping attack by gangsters who took htm "for a ride" which ended In southern Oregon. Hs returned here last night by plane from Medford, after Jie had been found early In the day hand cuffed to a tree near the Oregon Cr. morals line. Hs reported to Col li tor of Customs George D. Rub bard. "Baliinger is a good officer and a rellsble one," Hubbard said later. 'There Is something big behind this, and we sre going after It." After spending the night with friends, Baliinger prepared to return to his home near Belllngham during the day today. Search for the two gunmen, who early Thursday morning left E. I. (Continued on Page NirteJ vaulTaThIgh school robbed Tha combination lock on the vault at the senior high school was broken off some time durln? lest night, according to Chief of Police Ciatous McCredle, and stamps, val ued at about 5, arul a amsll amount of cash were taken. Some papers from the vault were placed in drawers la th office, and the parts of the combination lock hid under a typewriter, an la one of the drawers. Wednesday night clothes and watches belonging to Coseh Darwin K. Burgher, Assistant Coach Ed Kirtley and Harry S. Hinman, were stolen from the school. ILiORE TO VISIT TRIBUNE AT 4:3( Oilmore wilt roar at The Mail Trib une this afternoon! This was the announcement made today by Charles Ellis, district manager of the Gil more company. Tha year-old Uan of national fame, on a trip south, ts ex pected at The Msll Tribune office about 4:30 o'clock, and will remain here about 15 minutes before con tinuing to Ashland, Oilmore, known for his activities in th Gilmors cirrt, was ths confer of attraction at the Portland and Se attle sutomottle shows in ths psst s VMM, . Assassin Yells at Judge As Death Chair Ordered I "J t - 1 t , ' , JijS Tnss wo (HtHKPl'K iMNflARA, sentenced tudav ! die In the electric Hialr for the murder of Major Anton J. Cermak In an attempt to ktlt President Roosevelt. , . .... MJAMf, Pta,r March to. (AP) Guiseppe Zangara. zealot and eaeaa sln, today waa sentenced to death in th electric chair for the murder of Mayor Anton J. Cermak of Chicago in his futile attempt to kill Presi dent Booseyeit: ! . Sentence was passed at t8:2i a. m., by Circuit Judge Uly O. Thompson, who read the sentence from a pre pared statement ending wtth "and may god ha?e mercy on your soul. There was a flurry in the court room sfter sentence was paused as Zangara denounced Judge Thomp son and shouted: "Tou give me elec tric chair. Tm no afraid that chair, "You're one of eapitaiiaia, "You Is crook man too. Put me in electric chair "I'm no care. WORK ARMY' TO ENLIST JOBLESS, PRESIDENTS PLAN WASHINGTON. Mareb is (AP President Roosevelt has trlrtuslty re&dy for submission to congress a far-flung empioyment ptaa for en listing SOO.O0S idle men into a ctrti corps similar to the army and placing- them In camps In ar!ous parts of the cosmtry, gpeaker Rainey told newspaper men such a project would be part of the chief executive's proposal for a W0,G0o,0O0 bond Issue for public worlc prohssiy to be dispatched to conjrress tomorrow. The camps would be located at points strateijlc to public construc tion, reforestation and reclamation projects, he said, and the men en listed would be fed and Soused and given compensation of not to exceed ! a day for their wora. Mr. Roosevelt has outlined hta ideas for one exteitve project cen tering around Muscle Shoals and has others In mind. The camp,, Rainey said, would be patterned In part after tlte unem ployment camp In New Yorlt state In which the president Is Interested. It holds more than 1,000 men. COMMITTEE NAMED TO DRAW UP POWER BiLL WASHtKOTOS, Msjvh 10. (API Speaker Rainey today appointed Rep resentatives McDutde of Alabama, MIIHgan of Missouri and Woodrum of yirglnls. Democrats, and Taber ot New York snd McOugiB of Kansas, Republican,, a the special economy committee handle a bill to give President Rooeevett the power to !ah f,OTifiS&i ercasta, Banks Will Open LEAVES ECIAL ' Deputies rushed Zangara from the court room as he shrieked the isst sentence Spectators were held 5 th court room ni& sfter the prisoner ; was removed to the elevator carrying j him to jail. Under the Florida law the execu tion date will b fixed by the gov ernor of the state and official f the state penitentiary at Ksiford, Judge Thompson's sentence ordered that Zangara be confined in Dad county jsii until his removal to Ft! ford and that he be kept there until th governor sets the week of exeeu tion the hour and day to be set by the prison farm superintendent, "And at such time and plaes pun ishment of death shall be inflicted upon you by causing to psss through (Continued on Fags Kin) GRAND JURY WILL MEET MARCH 13 TO SCAN CRIES District Attorney George A. Cod ding this morning directed that the new grand jury, drawn at th open ing of the present term of court February 27, meet next Monday, March 13th. If the present bank moratorium la further extended, ths grand jury will recess until ths next iudieSsi day, Theodore J. Belt Jr., of th Talent district is foreman. The other mem ber are: B. C. Dixon, service station: opr ator. Talent; George J. risk, farmer. Medford, ft. F. t. It 3. K. Beckf lab orer, Medford; heo Jemmerthel, lab orer, Ahlnd; A3! Prtt. nurse, Mrf?ord, and Marie I, Putney, house wife, Medford. Among the Important matter to com before th body wilt be wft rseme In th Investigation of th theft and destruction of official bS lota, oaat tn the last general election, from th courthouse vault on th nis&t of Fe&ruar? 30, Snfepormas were being served to day upon a nurrshtr to appear as witnesses before th grand jury. RESERVE BAf,KS TO REOPEK SATURDAY WASlflNOTCfS. M. 10, Sec retary Woodin announced today the i reerr bank will be opened to morrow. U. BUTTS, Monfc March 10. (AP) Butte police ha? been advised that Charle Xlmaey, accused of th mur der of W. ft. Howard of Slt Lake City near Iam Nevada, in 1924, ha bn arrested asd identified at XoUapelV 1AJ lEC'ilQ, ME JUL! 21 ON SALES TAX PLAN OTHERPROPOSALS By CLAYTOH V, BERN HARD Associated Presa Staff Writer SAL2M, Or.. March 10. AP) As janitor erswa today were clearing the desk of legislate? members and mopping up the chambers which earlier la the da; saw th eloalng moments of the longest legislative session In th history of Oregon, so were clt&en of the atat attempt ing to discover juat what the results of th 37th assembly will be. Major legislation waa left until ths last Jew day of th 60 -da? session. Including: such measure aa th gen eral sales tax. Income tax, utility control, legalization ci racing and betting, and banking control, but during th entire tlma many other bills were passed which will affect persons and activities is various parts of the state. Per ha pa Use first direct result of the session will be the .holding of a special election July 2J which wfH have the effect of a major event of that type In thla state, Not only will delegates be selected to state con vention to vote upon th repeal of special election Include the genera! constitution, but five other propos als at least will be on the ballot. And today thera were tadie&tioR of addi tional mea&urea to be referred. Th other btlia to be passed at the special election mclod the general sale tax of a per cent which was finally Adopted In the closing min utes of th assembly, The bHi as amended will, if approved by the peo ple, asses 2 per cent tax on gross retsfl sales, three-tenths of 1 per cent on manufacture r?, wholesalers and publishers and eliminate the per sonal property tax. withdrawals were one of th feat ures of th final day of the session when members learned many of their "pet" measures were not to be re ported out of committer Th last day also saw passage of numerous minor measures which we; either taken off tha table or forced out of committees. Tired leglalstora last Bight at tempted to clear up all of the bill remaining ef the m introduced, but even with this effort mmy did die m committees. Senator Wheeler's feili providing for cancellation of penalty and in terest on delinquent taxee of and prior years, repassed the sen ate. For th second time is the house Governor MeJer's veto waa sustained, the home refttslng to pass a. meas ure licensing osteopaths over 1 dis approval. Similar actios waa Ac corded th 30-hour week hill for common labor by political .subdivis ions of th stat. Most of his vetoes were overrlddea by both house and senate. Th oleomargarine tax hill ws repassed by th senate. The bill has reached the governor's office when It ws recalled by th house and amended to Include butter' substi tutes mad from, animal otic, Aa originally Introduced tt covered only vegctabi oils. The tax la four cent s pound. mmWm ROOSEVELT PUi WASSf KOTOS, March 3S-(AF- Republicans as well as Democrats towered prats today on President Roosevelt's demand for a balanced budget,, but there was opposition to hi request for power to cut veter ans expenditures. Senator McNarv, Republican leader. predicted approval of hia program. "His proposal for economy are the most drastic ever submitted by s president ia congress he said. "Hi claim for additional power will receive a- ready response from Democratic member of the senate and probably wilt not be opposed by h Republican membership. It rep resents k tineer effort for ft balanced budget." CASH BONUS BELL IS . REINTRODUCED WASHiKOTOS, Mar, ttt. OP Srt a tor Thomas D- Oiia.) today rain troduoftS m th senate a Mil to prs Tld for tha Imnwdiai sasft paymant of th sokSJsrs tnmua certificates, :o fmarseed tey expssssisa; ths cur rsncy far wbataror aasesss was nee Monday SIOENT'S PLAN AT GRADUAL Complete Banking Opera tions Wt Be Under Way in Every Pari of Country Soon Fotfowing Permit Stsdford'a tJires banks wsss oper attrsy today trader the sama sc&cd ais and reatrfetfesn. as jesterstsy,. awaiting th authorisation from PortJaad for as? changes t& ha ac complished t&rsmfa the ppesfeJerit proeJamatiwu All eme?ge&c& are so fsr be'.r.g met with money and merchants are aMs t& obtain eharijr to avDid (fangers of frozen surceas ing power. Scrtp was eireaiattsg freely through the cKy, tnabttsg easy trasaaettona. which vottid 7 seen JmpoMlbJe without tha local issue. No predictions were being rfiarfn a to the time fo re-opening: of tr : hanking institutions for regs&ar : hosinesa. WASHINGTON, Marcb la. (Aft President Roosevelt expects irriars dtai reopening of the banks on ft gradual basis, beginning in aii prob ability, on HoiKtsy. His plana Ci'-l for opeaiog up ot inssitijtisns for comntet narutiag operations is every part of ths country, r National and state banks w&lca. are member of tha federal reserva system must get permission from th federal gefteramest and tr.us; anav themselves sound and solvent. Stats banks not metnbera of the federal resem system wtii apply ta toe state snpsrtnteudent of hankx and upon hia cerUftcata of sound ness th tressssry witt order reopen ing. Secretary Wood t a U tlreadj sensi fas; telegrams of instructions, and orders for opening;. Woodin lata today ivued instruc tions to auperintcraienea of banks ia each state of Ifw, country on how to open the state banks. H aald that th president would authorize appropriate state aut'nort tte to give tteeaaes to banks under their jurisdiction other tnaa federal reserve bank to pen for usual normal business under stMfc rsstrse tbms and imitations as state au thorities may deem wise. PILOT CRASHES WITH ' LIQUOR LADEK PLAKE EOS AHOELES. March f& (&f Witisin 4 hours after eta Bitot's li cense had bees restored, Robert O. Crsoksv SI, movie stunt flier of te Angeies. crashed to hta deatir, m a itejiior-isdea airpiasa last nigfst near Bei Mr. Re waa Identifies; today by his widov. Whs a the University of Iowa last sarins awarded th greatest number of degrees of any year ia its history, the presentations passed an ali-Um total of 25M&, WILL BEVERLY HIIX9, CaKf,, Slsrch S. It's surprising tow IiU!e money t? en get gtrmg on. Let the tnks never open, i?t scrip jyewr come, jnst ev erybody keep on trttsfinif ewj'bofjy ehe. Why, it's such novelty to find tfest mm tsady will trust yoa ihni it eftarscred ett aur whole feeling fswrrt hiJSBtt nature. Way, never was ettr country so unit ed, never tvst a country tickled wifh their poverty. For three years we have had nothing but "America is fund amentally sound," It shotilti hae beets "America ia fumia- BtentBtly eoifkoo." The worse off we get the louder we littsgii, which a great thing snd every ' American tnternationai banker ongftt to hsv prinled on his office door, "Alive to day by the grace ot a nation that ha a sense of tensor," lou rj, - BBBBSWSSslSBKBVtSsBDsnKVsVVC2SH
