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December 17, 1935 - Image 6

Resource type:
The Michigan Daily, 1935-12-17

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______________________________________________________________________________________ I

Coughlin Plans
Entrance Into
'36 Campaign
Radio Priest To Organize
District Groups Against
'Rubber Stamps'
DETROIT, Dec. 16. - (P) -- The
National Union of Social Justice was
projected into the 1936 campaign
Sunday as the Rev. Charles E. Cough-
lin called upon "20,000 selected work-
ers" to organize groups of 250 in every
congressional district to defeat "rub-
ber stamp congressmen."
Speaking over a nation-wide radio
hook-up, Father Coughlin outlined
the first major political move of his
national union but denied that he in-
tended to sponsor the formation of
a political party.
Declaring the reform of the na-
tion's monetary system was the prin-
cipal objective he said:
"The history of seventy-four con-
gresses has been a history of con-
spiracy against the financial interests
of the people of the United States; a
history of subservience to the finan-
cial interests of Wall Street and to the
Federal Reserve banks.
Congress Is Extravagant
"In the latter days, it is true that
this present congress has fed the hun-
gry, clothed the naked and sheltered
the distressed. But true to tradi-
tions of its predecessors, it has bor-
rowed credit money from banks -18
billion dollars--whose vaults were
almost empty and pledged to these
bankers that the people of this nation
would pour into those empty vaults
not 18 billion dollars, but 36 billion
dollars of real American money."
Explaining the objectives of his
proposed organizations for the elec-
tion of congressmen, he declared:
Districts Must Unite
"Who is so ignorant as not to know
that those who concentrate the
wealth of the nation and exploit the
people have been so powerfully or-
ganized as to secure the nomination
of either a Republican or a Demo-
cratic representative to do their bid-
"I say that we must unite in every
congressional district to elect repre-
sentatives to Congress who will pub-
licly pledge themselves to nationalize
the Federal Reserve banking system."
Father Coughlin said he is interest-
ed in "perfecting the two main politi-
cal parties" rather than forming a
new one.
"We believe in rescuing them from
the ward healers and the unseen rul-
ers of the financial world," he added.
"We do not believe in establishing a
third or a fourth party which will
only add to the confusion."
Early Newspapers"
Placed On Exhibit
Eight priceless newspapers of
American colonial days, which have
been loaned to the department of
journalism by the Clements library,
are being framed in glass and will be
hung in the editorial room on the
second floor of Haven Hall before
Christmas vacation.
The loan of the newspapers was
made through Randolph Adams, di-
rector of the Clements library. The
list of the newspapers and the dates
of the issues are:
Boston Gazette and Country Jour-
nal, Sept. 30, Nov. 11, and Dec. 9,
1765, April 21, 1766, Sept. 8, 1767, and
Feb. 8, 1768. The Boston Evening-
Post, Sept. 7, 1767, and The Pennsyl-
vania Packet or The General Adver-
tiser, Nov. 25, 1780.

Held For Investigation

Budget Discussed Holding Compa
By Roosevelt Aides
Too Severe By
WASHINGTON, Dec. 16. -(A) - Tv
President Roosevelt called in his chief By ARTHUR MILLER
financial and relief advisers today The extinction of good and bad
for a budget conference, presumably holding companies alike in one fell
centering on estimates for "emer- swoop by the Holding Company Act
gency" outlays for the fiscal year be- was termed an unnecessarily severe
ginning next July 1. I penalty by Prof. Merwin H. Water-
Those summoned included Harry man of the School of Business Ad-
L. Hopkins, Works Progress adminis- ministration.
trator; Harold L. Ickes, Public WorksI Although much criticism has been
d strato; He MI leveled at the holding companies, Pro-
administrator;Henry orgenthau, fessor Waterman pointed out that
Jr., Secretary of the Treasury; Dan- "the companies may have been con-
iel Bell, acting director of the budget; ceived in evil, but like children, you
Rexford G. Tugweil, undersecretary can't abolish the original sin by kill-
of agriculture, and Frank Walker, ing them off."
head of the National Emergency Professor Waterman said he held
Council. no brief for the pyramid type of com-
The invitations to Hopkins and pany, but he held that the stigma
Ickes and also to Tugwell, Rural Re- which the industry has received does
settlement administrator, left little not belong to all companies, but only
doubt the conference was to consider to the least efficient ones and those
the outlook for Federal relief de- which "have not justified their exist-
mands and what shall succeed the ences."
$4,000,000,000 works program. "In the utility industry," he said,

ny Act Termed
Prof. Waterman
"colored as it is at present by a crit-
ical light of publicity, there is a great
tendency for the worthless and ineffi-
cient to stand out as typical. This is
not so true in other instances where
the bad are not quite so obnoxiously
prominent as have been the Insull
"It is not that people have lost more
money in utilities than in other in-
vestments," he said. "It is that more
investors have lost more money in
holding companies in such a short
time that has focused attention on
their parent-subsidiary relation-
The Holding Company Act's provi-
sion to dispose of many holding com-
pany properties, Professor Waterman
said, is really a killing blow. The
companies have refused to abide by
its provisions and are waiting the
decision of the Supreme Court on the
constitutionality of the act, he ex-

America Faces War
Days,_Nye States
SEATTLE, Wash., Dec. 16. - (P) -
America, in the opinon of Senator
Gerald P. Nye (Rep., N. D.), is fac-
ing the most "dangerous days since
the World War."
Nye, head of the Senate munitions
committee, told a public gathering
here Sunday night that America "is;
setting the pace" in warlike prepara-
"No nation is spending, as much as
we are," he added.
National defense, he said, was be-
coming too much "a market for
profit." He advocated Government
ownership of the munitions industry.
"I have no cure-all for the disease
which is war, but we can do much to
lessen the danger of our being drawn
into another war," he said. "First,
by tightening and enlarging our neu-
trality policy, and then by removing
profit from war itself, and prepara-
tion for it."

Trucking Firm
Told To Cease
WASHINGTON, Dec. 16. - (P) -
The National Labor Relations Board
today ordered the Fruehauf Trailer
Co. of Detroit to cease employing pri-
vate detectives for the alleged pur-
pose of reporting on union activity
among its workers.
In its first decision affecting the
automobile industry, the board also
directed the company to reinstate
seven employes with back pay. These
workers, the board said, were dis-
charged for union activity. The
company also was directed to stop
"interfering" with the organization
of its workers.
The board cited testimony regard-
ing J. N. Martin, described as a pri-
vate detective in the company's pay.
The board asserted he "passed as an
ordinary employe" and was elected
treasurer of the United Automobile
Workers local.

1 p

-Associated Press Photo.
Robert Mahan, 22-year old Let-
cher County coal miner, was held
in Pikeville, Ky., jain in connection
with the death of his infant son.
His wife charged he held the child's
hands and feet to discipline it.
Gernman Institute
Recognizes Hopkins
Prof. Clark Hopkins of the Latin
and Greek department has been
elected as a corresponding member of
the German Archaeology Institute, it
was announced yesterday.
This honor is conferred by the In-
stitute only upon a limited number of
scholars of other nations. This or-
ganization has been internationally
prominent for the promotion of arch-
aeology, and under its auspices ex-
cavations at Olympia and Pergamos
have been conducted. It also has
sponsored an extensive series of arch-
aeological publications.
The membership was conferred on
Professor Hopkins in recognition of
his work as a member of the Yale
expedition excavating at Dura-Eur-
opas, where he was field director for
four years before coming to the Uni-
A talk on "The Ethiopian Situa-
tion" will be given by Col. Henry W.
Miller, head of the department of
mechanism and engineering drawing,
at a meeting of Scabbard and Blade,
honorary military society, to be held
at 8 p.m., tomorrow in the Union.


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C hris tmas


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magazine) for the coming
holiday vacation. Call at of-
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Assistant General Secretary

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