Work Done

The House: P: Passed a bill to repeal the gold payment clause in public and private debt contracts; sent it to the Senate (see above).

P: Passed (323-to-76) the national recovery bill providing for a "partnership" between Government and Industry, for $3.300,000.000 worth of public works and for new taxes to finance them: sent it to the Senate. A general sales tax was defeated (265-to-137). (See p. 13.) P: Passed (262-to-19) a bill by Alabama's Steagall for government insurance of bank deposits; sent it to the Senate (see p. 14). P: Passed (202-to-137) a Senate bill authorizing R. F. C. to lend $50,000,000 on new issues of preferred stock by insurance companies.

The Senate:

P: Acquitted California's Judge Louderback on five impeachment charges (see p. 11).

P: Passed a railroad emergency bill providing for: 1) a Federal coordinator to compel operating economies and eliminate duplicate service; 2) a broader rate-making basis for Interstate Commerce Commission; 3) I. C. C. control of railroad holding companies; 4) repeal of the recapture-of-excess-profits clause; sent the bill to the House.

P: Passed a bill by Virginia's Glass to reform the Federal Reserve, and provide bank deposit insurance; sent it to conference (see p. 14).

P: Heard Louisiana's Long demand the resignation of Secretary of the Treasury Woodin because in 1929 he shared in a stock cut-in deal with the House of Morgan (see p. 51).

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