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1934 1491 House of Representatives

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1934 CONGRESSIONAL RECORD-HOUSE 1491 Thomas J. Burns to be postmaster at Oakfield, Wis., in HOUSE OF REPRESENTATIVES place of W. F. Sommerfield. Incumbent's commission ex­ pired January 21, 1933. MONDAY, JANUARY 29, 1934 W. Joseph Hand to be postmaster at Random Lake, Wis., The House met at 12 o'clock noon. in place of W. E. Hoelz. Incumbent's commission expired The Chaplain, Rev. James Shera Montgomery, D.D., offered January 29, 1933. the fallowing prayer: Joseph P. Kelly to be postmaster at Richland Center, Wis., in place of E. D. Recob. Incumbent's commission expired Give ear, 0 Shepherd of Israel, and may all hearts be January 29, 1933. full of response and generous impulse. Create in us a noble Mable A. DeWitt to be postmaster at Sayner, Wis., in passion and a fine ideal of life. Thou art our Heavenly place of A. V. DeWitt. Incumbent's commission expired Father. Be Thou our ful1 assurance, our quiet hope, and our February 28, 1933. brave endurance. While there are any sorrows left, while Frank P. O'Meara to be postmaster at West Bend, Wis., in there are any yearnings unrealized, there is evidence of place of M. F. Walter. Incumbent's commission expired divine love that has not forsaken us. We praise Thee fo~ January 29, 1933. Thy all-restoring power. So long as there is a beseeching hand reaching upward, so long as it is striving to touch the Mart~n J. Williams to be postmaster at Winneconne, Wis., book of the Recording Angel with supplicating tips of out­ in place of G. E. King, deceased. stretched fingers, there Thou art with redeeming benedic­ WYOMING tion for all who dwell beneath the skies. Be with us today, Ernest A. Littleton to be postmaster at Gillette, Wyo., in merciful God. If trials overtake us, let us not despair; if place of R.R. Long, deceased. temptations meet us, let them not stain our souls. O let Thy hand be upon us and lead us to the heights of rich blessing and enlargement. Amen. CONFIRMATIONS The Journal of the proceedings of Friday, January 26, Executive nominations confirmed by the Senate January 27 1934, was read and approved. (legislative day of Jan. 23), 1934 MESSAGE FROM THE SENATE MEMBER OF THE INTERSTATE COMMERCE COMMISSION A message from the Senate, by Mr. Horne, its enrolling Walter M. W. Splawn to be Interstate Commerce Com­ clerk, announced that the Senate had passed, with amend­ missioner. ments, in which the concurrence of the House is requested, AsSISTANT DIRECTORS, BUREAU OF FOREIGN AND DOMESTIC a bill of the House of the following title: COMMERCE H.R. 6976. An act to protect the currency system of the Nathanial H. Engle to be Assistant Director, Bureau of United States, to provide for the better use of the monetary Foreign and Domestic Commerce. gold stock of the United States, and for other purposes. Henry Russell Amory to be Assistant Director, Bureau of The me~age also announced that the Senate had agreed Foreign and Domestic Commerce. to a concurrent resolution of the House of the following title: MEMBER OF THE CALIFORNIA DEBRIS COMMISSION H.Con.Res. 27. Concurrent resolution continuing in full Maj. Elroy S. J. Irvine to be a member, California Debris force and effect during the Seventy-third Congress the con­ Commission. current resolution of the House establishing the United States Roanoke Colony Commission. ASSISTANT COMMISSIONER OF THE GENERAL LAND OFFICE The message also announced that the Senate had passed Mrs. Antoinette Funk to be Assistant Commissioner of the a bill of the fallowing title, in which the concurrence of General Land Office. the House is requested: RECORDER OF THE GENERAL LAND OFFICE S. 2465. An act to amend the act of March 4, 1933, re­ lating to the regulation of banking in the District of Co­ Miss Ruth Lockett to be Recorder of the General Land lumbia: Office. UNITED STATES MONETARY SYSTEM ASSISTANT TO THE COMMISSIONER OF INTERNAL REVENUE Mr. SOMERS of New York. Mr. Speaker, I ask unani­ Wright Matthews to be assistant to the Commissioner of mous consent to take from the Speaker's desk the bill (R.R. Internal Revenue. 6976) to protect the currency system of the United States, to provide for the better use of the monetary gold stock of SUPERINTENDENT OF THE MINT the United States, and for other purposes, and agree to the A. Raymond Raff to be Superintendent of the Mint at Senate amendments. _ Philadelphia, Pa. The SPEAKER. The Clerk will report the Senate amend­ SECRETARY OF THE TERRITORY OF ALASKA ments. Mr. SNELL. Reserving the right to object, are the Sen­ Edwin W. Griffin to be Secretary of the Territory of ate amendments in print? Alaska. Mr. SOMERS of New York. I have a copy in my hand REGISTERS OF LAND OFFICES and there is another copy here, but they are rather scarce. Ellis Purlee to be register, land office, Sacramento, Calif. Mr. SNELL. Are there copies for the use of Members? Chris Bertsch to be register, land office, Bismarck, N.Dak. Mr. SOMERS of New York. They are being printed. William F. Jackson to be register, land office, The Dalles, Mr. SNELL. Does not the gentleman think-whether Oreg. there is any opposition or not-that we ought to have printed POSTMASTERS copies before the House of Senate amendments to House bills? I say that without special reference to this bill. I ARKANSAS think that on every important bill there should be copies of Thomas B. Gatling, Bearden. Senate amendments, so that we may know what we are doing. Herbert A. Whitley, Bradford. Mr. SOMERS of New York. Ordinarily I would say that Benjamin F. Love, Mountain Home. the gentleman is absolutely right. These amendments are James H. Nobles, Parkdale. printed in the Saturday RECORD. George 0. Yingling, Searcy. Mr. BYRNS. May I say that I agree with the gentleman Clyde F. Flatt, Siloam Springs. from New York; but in bringing matters of this kind Isaac H. Steed, Star City. promptly before the House, it is of the utmost importance Mabel Edith Whaley, Sulphur Springs. that action be taken on this bill. In addition to that, these 1492 _GON_GR_ESSIONAL RECORD-HOUSE JANUARY 29 amendments are very simple-the question being whether of which he is a director. Upon the request of the Secretary of the Treasury the Federal Reserve Board shall require the there should be a limitation put on the powers given to the Federal Reserve agent to transmit to the Treasurer of the United Secretary of the Treasury, and that was contended for by States so much of the gold certificates held by him as collateral those who opposed the bill. security for Federal Reserve notes as may be required for the As exclusive purpose of the redemption of such Federal Reserve notes, Mr. SNELL. I said, I do not intend to object. But but such gold certificates when deposited with the Treasurer several times this has come up, and I think that every im­ shall be counted and considered as if collateral security on deposit portant House bill with Senate amendments should be before with the Federal Reserve agent.' us in order that we may know what we are doing. "(6) The eighth paragraph is amended to read as follows: "'All Federal Reserve notes and all gold c.ertificates and lawful Mr. BYRNS. I agree with the gentleman, but this amend­ money issued to or deposited with any Federal Reserve agent under ment is very simple. the provisions of the Federal Reserve Act shall hereafter be held The Clerk read the Senate amendments, as follows: for such agent, under such rules and regulations as the Federal Reserve Board may prescribe, in the joint custody of himself and Page 2, strike out all after line 14 down to and including line the Federal Reserve bank to which he is accredited. Such agent 17, page 3, and insert: and such Federal Reserve bank shall be jointly liable for the safe­ "{b) Section 16 of the Federal Reserve Act, as amended, is keeping of such Federal Reserve notes, gold certificates, and lawful further amended in the following respects: money. Nothing herein contained, however, shall be construed to " ( 1) The third sentence of the first paragraph is amended to prohibit a Federal Reserve agent from depositing gold certificates read as follows: •They shall be redeemed in lawful money on with the Federal Reserve Board, to be held by such Board subject demand at the Treasury Department of the United States, in the to his order, or with the Treasurer of the United States for the city of Washington, D.C., or at any Federal Reserve bank.' purposes authorized by law.' "(2) So much of the third sentence of the second paragraph "(7) The sixteenth paragraph is amended to read as follows: as precedes the proviso is amended to read as follows: 'The col­ "•The Secretary of the Treasury is hereby authorized and di­ lateral security thus offered shall be notes, drafts, bills of ex­ rected to receive deposits of gold or of gold certificates with the change, or acceptances acquired under the provisions of section 13 Treasurer or any Assistant Treasurer of the United States when of this act, or bills of exchange endorsed by a member bank of tendered by any Federal Reserve bank or Federal Reserve agent any Federal Reserve district and purchased under the provisions for credit to its or his account with the Federal Reserve Board. of section 14 of this act, or bankers' acceptances purchased under The Secretary shall prescribe by regulation the form of receipt to the provisions of said section 14, or gold certificates.' be issued by the Treasurer or Assistant Treasurer to the Federal "(3) The first sentence of the third paragraph ts amended to Reserve bank or Federal Reserve agent making the deposit, and a read as follows: • Every Federal Reserve bank shall maintain re­ duplicate of such receipt shall be delivered to the Federal Reserve serves in gold certificates or lawful money of not less than 35 Board by the Treasurer at Washington upon proper advices from percent against its deposits and reserves in gold certificates of any Assistant Treasurer that such deposit has been made.
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