Thank you for visiting SNEWPapers!

Sign up free
Page thumbnail for The Times News
Domestic News April 26, 1933

The Times News

Hendersonville, Henderson County, North Carolina

What is this article about?

In Washington on April 26, Senator Carter Glass nears break with Roosevelt administration over inflation policy. Senate set to vote on Thomas bill for controlled inflation, with passage assured despite Republican opposition led by Senator Reed. Chairman Harrison defends bill as sound economic measure.

Merged-components note: Multi-part story on inflation program continued from page 1 to page 4.

Clippings

1 of 2

OCR Quality

95% Excellent

Full Text

CONSERVATISM IN PROGRAM FOR INFLATION IS PLEDGED FOR F. D. R. AS VOTE NEAR
Glass on Verge of Break With Administration; To Inspect Camp Sites This Week
Senate to Act
WASHINGTON. Apr. 26 (UP)
Fiery little Carter Glass of Virginia, first Roosevelt choice for treasury secretary and long time financial oracle of the senate, was on the verge of a break with the administration today over inflation.
The senate was scheduled to meet at 11 a. m., and to vote today on the controlled currency inflation program denounced by old guard Republicans as suicidal and lauded by Democrats as the only escape from depression. Passage seemed assured.
Indecision of Senator Glass whether openly to oppose the administration on the inflation issue was the only factor of uncertainty in the plan to reach a vote before nightfall, Glass and Republican leaders refused yesterday to agree to limit debate today. If he decides to denounce the administration's inflation cure, the showdown may be delayed until tomorrow.
The senate is lining up two to one for inflation. Agitated, old guard leaders, remnants of the Hoover - Mills - Mellon forces on Capitol Hill, have pleaded in vain.
Senator Reed, Republican, Pa., planned a final joust with the administration.
By THOMAS L. STOKES
United Press Staff Correspondent
WASHINGTON, Apr. 26 (UP)
President Roosevelt will act wisely and will authorize only controlled inflation and sound currency under the sweeping Thomas bill, the senate was told yesterday by Chairman Pat Harrison of the finance committee.
The Mississippi senator was provoked to enter the heated senate controversy over the currency expansion bill by a biting and vitriolic Republican attack during which the president was asked repeatedly to relieve business uncertainty by defending the scope of the inflation he proposes to employ.
"The country knows," Harrison shouted, "that the man at the helm of this government will permit nothing unsound, will not take unjustly from one man and give to another. There is nothing in this bill against sound money.
"I would not lift my voice for this measure if it did not provide for controlled inflation.'"
The vigorous Republican offensive yesterday, led by Senator David A. Reed, Pa., apparently made no appreciable dent in the ranks of supporters of the measure on both sides of the aisle, but the flood of oratory delayed the bill. Leaders expect a final vote today. Victory for the administration is assured by a decisive margin, a check last night by the United Press disclosed.
Harrison, drawn from his recent comparative retirement from the oratorical lists, labelled the opposition with the "Mellon-Mills" stamp. He scathingly denounced Republicans for "obstruction" in
(Continued on page 4.)
CONSERVATISM IN PROGRAM INFLATION PLEDGED FOR F.D.R.
(Continued from page one)

the face of a great emergency, and accused them of cowardice and lack of courage when they were in power.

"The hope of the country lies in this bill," the Mississippi senator concluded. "It means a better day for America. It means tens of thousands of people who have stared at bankruptcy can come back. It means that banks can keep their doors open and that closed banks holding $6,000,000,000 in deposits can go forward."

Reed, who jumped frequently from his seat to challenge Harrison, denied that he had conferred with former Secretary of the Treasury Andrew W. Mellon about the currency bill to which the Mississippi senator retorted:

"Oh, it was probably one of those triangular affairs, Mr. Mellon talked to Ogden Mills (Mellon's successor as secretary of treasury) and Mills talked to you."

Referring to Mellon, Mills and Reed, Harrison said it took a "good deal of nerve" for those men "who made a miserable mess of the country's fiscal affairs for the last several years" to come now "and tell us what to do."

Harrison referred sarcastically to Mills' recent activity here against the bill. Rep. Dies, Dem., Tex., introduced a resolution asking that Mills' movements be investigated.

Failure of the three-day Republican attack to break the grip of the administration in the senate was demonstrated yesterday. Minority Leader Charles McNary advised Senator H. O. Hatfield, Repn., W. Va., to withdraw a substitute for the gold dollar re-valuation sections of the bill which would permit a $3,000,000,000 issue of silver certificates.

McNary's canvass disclosed that Republicans as well as Democrats were cold toward this proposal.

What sub-type of article is it?

Politics Economic

What keywords are associated?

Senate Inflation Bill Thomas Bill Roosevelt Administration Carter Glass Pat Harrison David Reed Controlled Inflation

What entities or persons were involved?

Carter Glass F. D. R. Pat Harrison David A. Reed Andrew W. Mellon Ogden Mills Charles Mcnary H. O. Hatfield Rep. Dies

Where did it happen?

Washington

Domestic News Details

Primary Location

Washington

Event Date

Apr. 26

Key Persons

Carter Glass F. D. R. Pat Harrison David A. Reed Andrew W. Mellon Ogden Mills Charles Mcnary H. O. Hatfield Rep. Dies

Outcome

passage of the thomas bill for controlled inflation seemed assured with a decisive margin for the administration; republican opposition failed to sway support; substitute proposal withdrawn.

Event Details

Senate debate on the Thomas bill for controlled currency inflation; Senator Glass on verge of breaking with administration; Chairman Harrison defends bill against Republican attacks led by Senator Reed; vote scheduled for April 26 with strong support for passage.

Are you sure?