Senator Couzens Speaks On:
One of the largest individual
holders of govrenment bonds—
Senator James Couzens of Michi
gan—discusses them here in the
fourth and final article of a se
ries on our economic problems.
By CHARLES P. STEWART
Central Press Staff Writer
Washington, April 27. Adverse
critics frequently remark, when Sen
ator James Couzens of Michigan ur
ges tax reform, that the senator hint
self is a large holder of tax-exempt
I have heard Senator William E.
Borah of Idaho hint at this, in debate
in the upper house of congress—and
I halve heard Senator Couzens’ an
swer, to the effect that ned oes not
believe in tax-exempt securies (re
gardless of his own holdings), but re.
peatedly has been told by no less an
authority than Senator Borah (an
eminent constitutional authority) that
it would take a constitutional amend
ment to make them otherwise.
‘Right now I want to say,” the
Michigan senator recently told me,
"that there should be no tax-exempt
bonds or tax-exempt incomes.”
CAPITAL LEVY FOR
The Michigan senator himself now
knows the subject of tr£: exemptions
as well as an>d constitutional lawyer.
"It is a popular mistake,” he says,
"that federal incomes are tax-free,
but it is true of incomes from the
state and lesser units of government.
As to bonds, the federal government
can dictate as to its own, in the mat
ter of taxation, but it is a fact that
a constitutional amendment is nec
essary to subject the issues of smaller
units to taxation.
"Oustanding issues, which cannot
be touched otherwise, should he
reached by a capital levy. '
It cannot well be charged, then,
that the sentor is elfishly actuated in
the matter of tax exemption.
Inflasfioii? Is Senator Couzens a,
believer in it?
Was dollar devaluation inflation
ary?—and if so, beneficial?
"I think.” says Senator Couzens,
"that devaluation was not so much
actually inflationary as psychological
ly encouraging in its effect, based on
the opinion of many persons that it
was needed to break the depression.
"As an advance calculator of psy
New Campus Leaders at U. N. C.
President St udfnt Vice-President - PHIL HAMMER P . S A P°E JAMES McCACHREN
CLAUDE W RANKIN * —— ■. ■ ■ J •'
JR., Editor NELSON LANSDALE BILLY YANDELL LESTER OSTROW HUBERT RAND
YacWet* Ynch Editor of Finja* President Y. M. C. A. Chief Cheerleader President Senier Class
Pictured above are the student lead- I
CT3 who are to head up the major
campus offices of the men’s organi
zations at the University of North
Carolina next year. They were elect
ed in the recent campus-wide elec
HUEY OFFERS TO BACK THESE FOR PRESIDENT
—.. I .
WFPm iirfminr- ■JwWt ,f t <' JKBxsß6£s^& y V 'iUlf > v#l^. : :fsiroßß&
Senator Long said ha would support one of these senators: (1) William E. Borah (RV), of Idaho; (2>
Elmar Thomas (D.), of Oklahoma; (3) George W. Norris (R.), of Nebraska; (4) Gerald P. Nye (R.; t
of North Dakota; (5) Burton K. Wheeler (D.), of Montana; (6) Lynn J. Frazier (R), of North Dakota;
Senator Huey P. (Kingfish) Long
pf Louisiana announces whom he
.Would support for president of
| TAX- Jr/|
$ * \_r' iWMWTJI
; MgiH :
jOX X x .lelil.JraO. :
!MS & SSL iImI
y IrM fIH i
k/jSia f.'Mil I
[“THERE SHOULD BE NO TAX EXEMPT INCOMES OR TAX
/ exempt; bonds."
ehological effects President Roosevelt
is really wonderful. I do not depre
ciate that. I always have been a psy
chologist myself, depending largely
on ‘hunches.’ The accuracy; of the
president’s ‘hunches,’ as developments
test them, is extraordinary.
“The weakness of the psychologi
cal system is that there Is a type of
folk lo whom psychology has no ap.
peal; a type of individual who can
comprehend nothing except the im
mediacy of a balance sheet.”
tions in a poll in which more than
1500 fellow students participated. They
are to be formally inducted into office
at evercises to he held soon by the
Student Body in Memorial Hall, j
Home towns of the officers are as fbl- I
the United States in 1936. Speak
ing to newspaper men, Senator
Long offered 'STehator William K.
HENDERSON, (N. C.) DAILY DISPATCH, SATURDAY, APRIL 27, 1935.
“Still,” admitted the senator, “it is
a| type that has its utility,.
“It serves as a valuable brake upon
the possible excesses of psychology;
it is extremely practical.
“That is to say, my principal anx
iety concerning the outcome of the
present administrations policies arises
from the number of impraeticafl ideal
ists by whom the White oHuse is sui
“I approve of idealists, hut I want
them to be practical.
“An un-idealistic practicallsm upon
lows: Pool, Raleigh; Evins, Ovford,
Hammer, Wilmington; Poe, Raleigh;
MeCachren, Charlotte; Rankin, Fay
etteville; Uansdale, Frederick, Md.;
Yandell, Charlotte; Os trow, Newark,
N. J.; Rand Garner.
Borah (R.), of Idaho, as his firsi
choice. Others are pictured and
an impractical idealism is a drag to
be thaHikful for.”
PROTECTING THE DEBTOR
Illustratively in the matter of mon
etary inflation. Senator Couzens
speaks of the danger permitting re
adjustment to pass the borderline in
to the realm of what he calls the
“At the same time,” he says, “it
manifestly is not falir to require a
man who borrowed $1 on the suppo
sition that it was to be repaid with
one bushel o fwheat, to repay it with
two bushels. He is entitled t.) the one
It is a return, however, which
means to the consumer, who in the
meantime has had his pay cut, an
increase in his living costs.
“That’s so,” agreed the senator.
“Nevertheless it is surprising how
willing any one economic group is to
profit at the expense of some other
“Agriculture's distress long ante
dates the national depression. Con
gress was struggling with the farm
problem well back into the I oom pe
riod, but urbanites did not care a hoot
for it. Now luratl incomes are begin,
ning to pick up a bit and the urban
Dean C. D. Snell
Dean Chester D. Snell, above, has
been discharged as head of th«
extension division of the Univer
sity of Wisconsin in Milwaukee,
by regents of the school, follow
ing charges of immorality against
faculty members made by Snell.
The charges are being investigat
ed bv a state senate committee
16-POUND BABY DOES “NICELY”
k.JM.*>.. ... _...;„ : ; b~-■- ~J
Weighing 16 pounds at birth, and
24 inches tall, the infant son of
Mr. and Mrs. George Browning,
of Elloree, S. CJ,, is pictured
above. The baby’s weight is more
The Greek Minister
Simitros L. Sicilianos at rived fn
M. 3. to become the new minister of
Greece, innocent of the fact that a
stage and radio dialect comedian
Represents himself as “the Greek
The top ot a dripolater Is handy
for watering seeds or tiny plantlets,
as the water sprinkles gently
through it like slow rftin.
Reich Accused of Rearming Rhine Neutral Zone
- ~—; : f ■
Strip of Rhine Valley (shaded in map) made neutral by Versailles / .
Treaty, is being fortified by Germany, secret agents have informed Lon
don and Paris, precipitating new crisis in relations of the Allies with ( Basel "~-
their former enemy. Forts at Coblenz (above) which A. E. F. occupied * S^lT - F ts. i;.
are being modernized, it is charged. (Central Press) ” " "
BLACK DUSTER ABOUT TO STRIKE KANSAS TOWN
On . ■ . - v . .
§ § . §
Day became dark, stifling night
just after this picture was taken,
showing dust storm of the black
than twice that of the average in
fant, and six pounds more than all
five of the famous Dionne quin
tuplets, which weighed less than
10 pounds at birth.
* : :: 3A
p\ # / \ BRA LI L
} \-iL dept '-‘"'v.
i ;Q of Beni V
° .ARGENTINE 7* y
Big Bolivia and little Paraguay ari
likely to reverse positions in size,
with Paraguay extending its suc
cessful recapture of long disputed
Chaco region to conquest of Benj
and Santa Cruz departments, or
states, of Bolivia. Territory of
President Jose Luis Tejada Sorzand
(top), Bolivian president, would
shrink, and that of Dr. Eusebio
Ayala (below), Paraguayan preaij
dent, expand; ;
variety about to strike the little
Kansas town of Ulysses. The pic
ture. taken by R. L. Gray, of
Just Like 'War Days
to ran --sj
SOUS LES GA2
mni m *
PBOTECTIOn COMTOI iIS ’
ATTAQUES AEWEfWES I
*: ■ ... •:• ••< . »>.: > ' '•*'
- i lllr~~r mil—Mill! Ihwiiliinwxillt wOl'iil Ts -ini
rf a poste S rs n Thich S h?»v^ it f h air T def f nse instructions (left), reminisced
oi posteis which blaied from London walls m 1917 (rieht) as Ften >i
government. conduct, campmgn to prepare all citaenf fm Srtfct H
regards as inevitable. (Central Press!
One-Womatl Campaign vs. Death
.- -• j
’ ' ' ' • , r
Mrs. Violet Van Der Elst, British millionaire's wife, is continuing 1"*
campaign for abolition of capital punishment unaided, and without
much encouragement, despite failure of her “sitting strike.” She parked
her car in front of prison where condemned man was being held, broad'
casting attacks on authorities by loud-speaker, and refused to leavo
until policy moved her and car by force. She hired demonstrators W
parade before other pr&ozufc (Central Prt#**.
Ulysses, is one of the most re
markable to be taken of one of
the *we inspiring “black duster.”
LONDON COUNTY COUNCIL
During danger from an air raid all
children will remain ineide the school
buildings; all gatea will be shut, and
no one will be admitted. Crowding
round the school premises only
Increases the danger.
No place Is absolutely safe, but
experience chow* that children are
safer in school puddings than If
sent out into the streets.
The London County Council Is
doing all It can to secure the safety
of the children, and It Is honied ttiat
parents will help by leaving their
children entirely under the control
of the teachers until all danger
Hi, ,i hi Mniiiayi^m
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