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...Government's tax collections. Processing taxes on wheat, corn, hogs, cotton, tobacco were contested. A temporary injunction against the operation of the Bankhead Cotton Act was issued in the Texas courts. All told, AAA found itself facing 705 court challenges, which meant that 705 processors were eager to maintain before the law that the Christmas gifts farmers have been getting do not come from Santa Claus, that processing "taxes" are but white whiskers to conceal the fact that one group of citizens are putting thieving hands into the pockets of another group...
...provides that the totally deadlocked Italo-Ethiopian conciliation commission shall again discuss whether Italians or Ethiopians fired the first shots of the Ualual Incident (TIME, Dec. 24), but shall not discuss the real issue of whether Ualual is in Italian Somaliland, as Italians claim, or in Ethiopia, as Ethiopians maintain. While this is going on Italy, France and Britain will negotiate about Ethiopia among themselves and totally outside the League of Nations on the basis of their Treaty of 1906, unrecognized by Ethiopia and said to provide for the division of Ethiopia into "zones of influence" among Britain, France...
...this week's [July 15] issue of TIME from tender-skinned clerical brothers, chiding you for the very thing which makes TIME so good-its fine, fearless frankness. A fortnight ago the magazine was overdue and I had to buy a copy from the newsstand, in order to maintain my Friday equilibrium. Of course I often take issue with what you print, and sometimes you make me mad. I am glad you do upset me: such agitation is necessary for a sane, decanal existence. So keep on being natural and racey-and even spicey. The country needs...
...numerous U. S. localities which maintain open-air summer concerts, only the Hollywood Bowl pretentiously labels its performances "Symphonies Under the Stars." One night last week Peggy Wood, Marlene Dietrich, Josef von Sternberg, Jeanette MacDonald, Corinne Griffith and some 18,000 others heard Otto Klemperer play Beethoven, Wagner, Debussy, Al-beniz, Berlioz in the Bowl's opener. Conductors to follow during the eight-week season : Willem Mengelberg, Ernest Schelling, Bernardino Molinari, José Iturbi...
Governor Eccles wanted to give the Board power to alter at will and in any degree the reserves that member banks must by law maintain, so that it might apply brakes to any runaway credit inflation. The Glass Bill limits the possible upping of reserve requirements to double the present ratios. The Eccles draft would have made any & all bank assets, short-or longterm, liquid or frozen, eligible for rediscount. The Glass Bill provides for special Reserve Bank advances on ineligible paper in emergencies only. And thus throughout Title II Governor Eccles and Senator Glass both achieved their original aims...