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...ballot: Smith, 849?; George, 55½; Reed, 52; Hull, 50?; Jones, 43; Watts of South Carolina, 18; Harrison of Mississippi, 8½; Woollen, 7; Donahey of Ohio, 5; Ayres, 3; Pomerene, 3; Bilbo of Mississippi, 2??; Thompson, 2; not voting 2?...
...Secretary of the Treasury Andrew W. Mellon found a way of lessening expense without changing national customs. He announced that the dollar bills of the future will be considerably reduced in size. The present bill measures 7.7 inches by 3? inches. The new bill will measure QVs inches by 2??? inches, therefore will be about an inch and one-half shorter and half an inch narrower. It will last longer because it will not have to be folded so much and each printing operation will produce 50% more notes. These two advantages of longer life and easier printing were expected...
...Article 2???The confiscated property is to be used to aid: "The unemployed...
...most noteworthy feature of the week was the New York Federal Reserve Bank's lowering of its rediscount rate from 4% to 3½%. Call money dropped to 3% (the lowest since March 20, 1925) on the Stock Exchange and to 2??% outside. Such easy money was one cause for the rise of stock prices. Another cause must have been the plentiful money available from the conservatism so noticeable in industrial enterprises. Bond prices have been mounting gradually since the recent stock break. One day last week $20,826,000 in domestic bonds were sold, a record, the previous being...
Aftermath. Premier Briand sourly watched his Finance Minister, M. Doumer, take this rattlebrained bill to the Senate. Admittedly it was almost worthless. M. Doumer's experts opined that it might produce 2?? billion francs of added revenue, whereas at least 5 billions are necessary. The Senate Finance Committee's first act was to prune away some of its notorious "spoof" clauses (TIME, Feb. 15), mere legislative "nifties"?? not worthy of the Senators' laughter. The general impression was that the bill could scarcely be worse. But it was at least a bill! It was, in fact, a great triumph...