Monday, Mar. 13, 1933
"Names make news." Last week these names made this news:
"The President's proclamation should have the wholehearted support and co-operation of every citizen," said Citizen Herbert Clark Hoover, none too well off for cash at a Manhattan hotel.
From Northampton, Mass., Grace Goodhue Coolidge proclaimed: "We have cast aside political and sectional interest in a spirit of co-operation with our President and believe this same spirit emanates from the whole people."
California's bank holiday proclamation took the guests of Pasadena's smart Huntington Hotel by surprise. The hotel decided to issue scrip negotiable within its walls for tips, cigars, newspapers, cosmetics, haircuts. Among those who lined up at the cashier's window to get their scrip: onetime Secretary of State Frank Billings Kellogg, onetime Speaker of the House Frederick Huntington Gillett, Banker Henry G. Lapham of Boston, Edward Bausch (& Lomb), President William G, Stuber of Eastman Kodak Co., onetime President Charles Doran of Sperry Gyroscope Co., John Hays Hammond, Packer Edward A. Cudahy Jr., Princess Erik of Denmark, Banker Albert E. Nettleton, Louis B. Kuppenheimer (clothes), Dr. Arthur Dean Bevan (Chicago's Rush Medical College), Sir Montagu 6 Lady Allan of Montreal.
Governor Gifford Pinchot of Pennsylvania was caught in Washington with 95-c-, said he was glad he had enough gasoline in his car to carry him back to Harrisburg.
"The country is not going to hell," said Charles Edison, son of the late Inventor Thomas Alva Edison in Manhattan.
President Joseph E. Widener of the
Miami Jockey Club announced that his Hialeah racetrack would continue its race meet though cash shortages had closed the tracks at Agua Caliente and New Orleans.
Jesse Isidor Straus, president of R. H. Macy & Co., Inc. (cash only), rushed home from the Inaugural, bought a page in New York newspapers to announce a "code." Excerpts:
"I trust my government.
"I trust our banks.
"I do not expect the impossible.
"I shall do nothing hysterical.
"I know that if I try now to get all my cash I shall certainly make matters worse.
"I will not stampede. I will not lose nerve. I will keep my head."
In Manhattan, Banker Frank Arthur Vanderlip, onetime Assistant Secretary of the Treasury, announced a national financial plan held secret since Feb. 26. The plan proposed: 1) embargo on gold; 2) limited Federal guarantee of bank deposits; 3) legislation for complete separation of investment and commercial banking; 4) "devaluation" of the dollar by reducing its gold content in accordance with commodity indices. The Vanderlip proposals were signed by: President James Henry Rand Jr. of Remington-Rand Co., Chairman John Henry Hammond of Bangor & Aroostook R. R. Co., President Robert E. Wood and Chairman Lessing Julius Rosenwald of Sears. Roebuck & Co., Vincent Bendix, Samuel S. Fels (naptha), Philip K-Wrigley (gum); Motormaker Howard Earle Coffin, Motormaker Errett Lobban Cord, President Edward Asbury O'Neil III of American Farm Bureau Federation, Master Louis John Taber of the National Grange, Organ-maker Farny R. Wurlitzer, President William Joseph Me-Aneeny of Hudson Motor Car Co., Educator William Albert Wirt.
"Prince Michael Alexandrovitch Dmitry Obelensky Romanoff" (Impostor Harry Gerguson) observed: "A great many people's checks are now as good as those of a great many others."
In his New York Daily News, Publisher Joseph Medill Patterson promised: "Whatever [President Roosevelt] does or doesn't do, we're going to be for him. We're going to withhold hostile criticism for one year at least."
A cultivated financier was heard, in the lobby of a Manhattan cinema, explaining "to his wife how scrip was to be put into circulation. "The scrip will be just the same as a certified check, my dear.'' said he. "It will be issued just as it was in 1907. You remember 1907. The year Swinburne died."*
In Manhattan a receiver was appointed for the property of Technocrat Howard Scott, bankrupt.
*An error. Poet Algernon Charles Swinburne died April 10, 1909.
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