Word: silver
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Dates: during 1930-1939
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Last week Secretary Morgenthau submitted his lists. As expected the biggest silver holders turned out to be banks and precious few bankers are silverites. Chase National of Manhattan nominally owned the largest amount (18,000,000 oz.). Since futures for silver are normally higher than spot prices, the banks had bought and stored spot silver while selling equal quantities for future delivery. Such transactions gave them a profit of 2½% on their investment, about five times as much as they could get on other short term investments...
...silver Congressman was found on the list. Democrat Joseph Tumulty and the wife of Democrat Jouett Shouse made small headlines as silver owners but neither the onetime secretary to Woodrow Wilson nor the wife of the onetime party manager could be called insiders with the silver bloc. Notable catches were Errett Lobban Cord, member of the Committee for the Nation, owning 1,651,000 oz.; Frank A. Vanderlip Jr., son of another member, owning 300,000 oz.; Amy Collins, treasurer of the Radio League of the Little Flower, mouthpiece for ardent Silverite Father Coughlin, 500,000 oz.; A. Atwater Kent...
Once upon a time William Dudley Pelley was a newspaper man in Vermont. Later he was a spiritualist. Since January 1933 he has occupied the exalted post of commander and promoter of the silver-shirted Silver Legion (claimed membership: 100,000). Galahad Press published Liberation, a weekly magazine with which Shirtman Pelley publicized Silver Shirt ideals, attacked Jews for ruining the world, attacked the Federal Reserve System for being run by Jews, attacked NRA as a plan to sovietize the U. S., referred to Franklin D. Roosevelt as "President Rosenfeld...
Last week Commander Pelley was not in Asheville when his press slumped into bankruptcy. He was reported in California, where the Silver Shirts are relatively strong in number. Asheville believed he would return to examine the financial ruins of his publishing house. But whether he did or not, Asheville knew it would hear of him again, for last week the special House of Representatives' committee chairmanned by Massachusett's McCormack announced that it would begin in Asheville shortly its investigation of Nazi propaganda...
...Constitution, believed in a white man's God, paid $2 a year to Mr. Smith, and bought his khaki shirts, boots, etc. His program included "America for Americans," abolition of the gold standard, a greenback bonus, freedom for the Philippines, abolition of the "chainstore evil" free coinage of silver. Not its assorted panaceas but the imbroglios of its chief brought the Khaki Shirts its notoriety. Last July when Art Smith was holding a meeting in New York's Queens, antiFascists demonstrated against him and one of them was killed. Before a grand jury Smith accused one Athos Terzani...