DEBATE CONTINUES

Hokitika Guardian, 29 November 1933, Page 5

DEBATE CONTINUES

ROOSEVELT POLICY

PRIEST’S ATTACK IN SUPPORT,

(United Press Association—By Electric Telegraph—Copyright).

NEW YORK, November 27

President 'Roosevelt's supporters and the anti-inflationists held rival rallies here to-night. The principal speaker at the former rally was the Rev. Father Charles Coughlin, the .Catholic Priest, whose Socialistical!y-in,cli.ned radio-b r °adcaSts during the last few years have gained him a wid e following and he attracted about 25,000 persons. The rally of the gold-standard adherents, who were addressed by the representatives of the American Federation of Labour and of the American ■Legion drew les s than one-sixth as ■many as Father Coughlin’s audience, j Father Goughlin]fs r«judienee were highly 'appreciative, a n d they loudly applauded the speeches. They also roundly hissed and booed the name of /Mr Alfred Smith in connection with his present attack on President Roose-i velt. I

Father Coughlin attacked the “barons of AVall Street.” -He said that the Union Jack should <be flying over the door of Messrs Sill, Morgan, Afcheson and others. He also made the charge that Doctor Sprague was President Morgan’s tool, and that in his association with the Bank of England and the American Treasury, Spragu e had- attempted to further his master’s interests.

Father Coughlin praised the results, so .far, of President Roosevelt’s recovery programme ; and he demanded that the President should he allowed to continue his programme.

Before the meeting adjourned, a resolution urging the continuing of the gold-buying policy until the 1926 level of commodities, of salaries, and .of wages has been restored, wa s adopted by acclamation.

DOLLAR’S POSITION IMPROVES

WASHINGTON, November 27

There was further firmness in the dollar abroad ns the result of the apparent standstill of the Government’s gold purchases. The dollar’s- position against the .franc and sterling is i m * proving considerably. The s*ock market went into rather sharp decline while high grade bonds moved op. pressure in the New York stock exchange centred against recent so-call-ed inflation favourites. The day’s losses ranged from one to six points. Commodities also reflected the “bearish” influences of the sharp fall i ll foreign exchanges in relation to the dollar.

PRICE OF GOLD UNCHANGED

WASHINGTON, November 27

The gold price again remained unchanged. Treasury officials resumed consideration of the Government s 727,000,000 dollars maturities on December 15.

Governor Black, of the Federal Reserve Board will go to Warm to-morrow to confer with the President,

DECREASE IN UNEMPLOYMENT

WASHINGTON, November 26.

The American Federation of Labour estimates declare that 10,076,000 weie unemployed in October compared with 10,056.000 in September, which it says indicates the N(R-A. ,is keeping the employment situation under better control than usual at this time of the year. It is pointed out- that unemployment during thA . depression years usually increased by at least 450,000 from 'September to October, due to se'Gonal decline in industry. The report points out, .however, that the President’s re-employment administration put a million men on emergency work this month. Three million more are expected to follow.

TO-DAY’S PRICE OF GOLD

(Received this day at 10.45 a.m.) LONDON, November 28. . Gobi is 125/6, the dollar being quoted at 508 i.