Evening Star Newspaper, July 30, 1935, Page 4

ROOSEVELT DRAVS NEW CON DESIENS Half Cent May Have Hole in Center, With Mill Piece Square. BY JOHN L. HACKNEY. In suggesting the motif for the de- signs of the proposed new mill and half-cent coins, President Roosevelt 1s following a precedent set by many other Presidents. Much like the kings of old, he has demonstrated a particular interest in the “coin of the realm.” But the President turned to the familiar doughnut, or maybe it was a washer, to suggest to Secretary Morgenthau that the new half-cent piece be a round coin with a hole in the center. Many other countries now have such coins in circulation, perhaps the most familiar being the Chinese and French coins, the latter introduced widely in the United States as sou- venirs of the war by the returning American soldiers in 1919. The president also has made a sketch, the Secretary of the Treasury revealed yesterday, for the proposed mill piece. It will have the unique teature of being square, if his sug- gestion is accepted by the director of the mint and the Secretary of the Treasury, for under present statutes, those two officials have the final word on all coin designs. “T. R.” Watched Coins, Too. Perhaps none of the Presidents showed a greater interest in coin de- signs than did the Chief Executive's namesake and distant cousin, Theo- dote Roosevelt. During Theodore Roosevelt's ad- ministration, it was found that the gold coins then in circulation had lived the minimum life required by law—25 years. T. R. immediately set upon the idea of improving the $2.50, $5, $10 and $20 pieces and called on two of America’s best sculptors to apply their talents along that line. Consequently, Augustus Saint-Gau- dens was prevailed on to make the $20 and $10 coins, and Bela Pratt of Boston the $5 and $2.50 pieces. All the designs won instant approval. They were in reality works of art, byt Saint-Gaudens insisted too strong- ly in setting out his designs in deep relief. A good coin, Treasury experts de- clare, must stack; that is, the rim must be the highest point of the coin so stacks of them may be made. | Relief Had to Be Lowered. Saint-Gaudens’ designs, enthusiast- | ically approved by President Theodore | Roosevelt and his Treasury officials, | however, was in reality “too artistic.” | The relief was so high the coins| would not stack. The general design | was not changed, but new dies were | made and the relief was lowered. | Pratt, on the other hand, designed | a new type of coin, in that the figures | were incised in the metal. Of course, | there was no problem of making them | stand in tall pillars. i The Saint-Gaudens and Pratt coins | were still in use when President | Franklin Roosevelt calle dall gold coins out of circulation. “What a pity,” one Treasury coin | expert said today, “to destroy such | beautiful money. All those truly great works of art have been made into gold bars and new designs will have to be made when and if gold coins are ever returned to circulation.” Saint-Gaudens’ designs were made in the year he died, 1907. Pratt's were epproved the following year. Sinnock Is Engraver. When and if they are made again, if the time should come soon, it is probable that John R. Sinnock may have a hand in making the new de- signs. Sinnock is the engraver of the United States Mint end, although he has that title, he is in reality a sculp- tor and has done many excellent medal designs. But the Mint is not limited in calling in other artists, and outstanding sculptors may be called upon to complete the rough outlines submitted for the midget Ppieces now being considered. The mill will be a strictly new piece of American money, but the half- cent has a precedent. In the orig- inal mint act of Congress, approved April 2, 1792, half-cent coins were authorized. The first such coins were made of copper and weighed 132 grains. The next year the weight was reduced to 102 grains, and.in January, 1796, the weight was again cut down, this time to 84 grains. They continued in circulation until Feb- ruary 21, 1857, when the half-cent piece was discontinued. To give a better idea of the weight of the original coin, the present 1-cent plece weighs only 48 grains, Just a little more than half of the lightest weight of the half-cent piece, A dime—made. of silver, of course— weighs only 28.58 grains. Metal Is Undecided. Just what metal will be used in the new coins has not been decided. Zinc, brass and various alloys are under consideration, but aluminum has virtually been discarded before be- ing considered. The source of virgin aluminum is controlled by the Alumi- num Co. of America, a “Mellon in- terest,” and relations between this ad- ministration and Andrew W, Mellon are not so good. “I can’t imagine this administration manufacturing its currency out of aluminum,” Secretary Morgenthau commented. Taxes (Continued From Pirst Page.) bill also failed to follow suggestions regarding a graduated corporation in- come tax. The bill makes the rate 13% per cent on corporation income not over $15,000 and 141 per cent on over $15,000. The President suggested & range of 10% to 16%. Regarding the President’s $1,000,000 “example” were used it would have steped up sur- taxes only on 46 individuals in 1933. By starting the increases at $50,000, he said 7,974 taxpayers would have been affected. Other objections to the bill were raised by Senator Byrd, Democrat, of Virginia, who complained the grad- uated excess profits tax on corpora- tions was based on a “fictitious valu- ation.” The Virginian contended the pres- ent law permitted a corporation to fix any valuation it wanted for purposes of the one-tenth of 1 per cent capital stock and flat 5 per cent excess profits tax. “I think the law should fix a fair and real valuation,” Byrd said. Harrison asked Parker why the ‘Ways and Means Committee discarded the President’s suggestion on & grad- uated corporation tax. “My personal opngan." Pagker surtaxes, Parker said if | Right. THE EVENING STAR, WASHINGTON, D. C, TUESDAY, JULY 30, 1935. Winning C. M. T. C. Cadets PAPER ABSOLVED IN PICTURE ERROR Attorney Is Held Unharmed, Since Name Was Not Used in Story. By the Associated Press. LOUISVILLE, Ky. July 30.—Cir- cuit Judge Will H. Field today ruled that publication of a lawyer’s picture over the name of an indicted man does the lawyer no harm if he is not mentioned in connection with the Judge Field dismissed Attorney James P. McCormack’s libel suit sgainst the Courler-Journal. The pa- per published McCormack's picture in one edition, mistakenly stating the likeness was of Gordon R. , & lawyer who had been indicted. The court held unjustified McCormack’s claim that the publication led many to believe he had been indicted, sub- jecting him to odium, ridicule, loss of clients and impaired professional standing. The court said that if the picture was of Kinsey, but looked like Mc- Cormack, the paper clearly was not to blame for the error of readers. If the picture was of McCormack, with Kinsey’s name under it, Judge Field held, its effect must be consid- ered in connection with the text it llustrated. The opinion pointed out that Mc- Cormack’s name was not mentioned, but that Kinsey was everywhere specified. To assume this led to the belief McCormack was indicted, Judge Field concluded, was to attribute to the public a low order of intelligence. He saild McCormack might have an invasion of privacy. ROOSEVELT VICTORY IN CONVENTION SEEN Representative Crowe Predicts Nomination in 1836 With No Opposition. By the Associated Press. Representative Crowe of Indiana, vice chairman of the Democratic Na- tional Congressional Committee, pre- dicted in a statement today that Pres- ident Roosevelt would be nominated without opposition in 1936. Irked over reports that Mr. Roose- velt might have “tough sledding” next year, he said: “Much propaganda, a lot of talk, loose and otherwise, is going the rounds concerning the popularity or unpopularity, the virtues and vices, | | the good or the evil of Franklin D. Y Upper: Allan M. Warfield, 2701 Connecticut avenue, receiving from Tom Binckley, past department commander of the United Spanish War Veterans, the veterans’ medal, presented yesterday as the Fort Myer C. M. T. C. unit closed its training period. Warfleld had won the medal, an award to the outstanding trainee of the year, on two previous occasions. Lower: Col. Kenyon Joyce, commandant at Fort Myer, presenting to Harry Hippler the autographed Babe Ruth bat and Lou Gehrig base ball given each year to the outstanding athlete of the camp.—Star Staff Photos. New Surtax Schedule The new surtax schedule tentatively approved by House Ways and Means Income bracket. $50,000-56,000 - 56.000-62,000 - 62,000-68,000 68,000-74,000 74,000-80,000 80,000-90,000 90,000-100,000 - 100,000-150,000 150,000-200,000 200,000-250,000 250,000-300,C00 300,000-400,000 400,000-500,000 500,000-750,000 750,000-1,000,000 1,000,000-2,000,000 2,000,000-5,000;000 Over 5,000,000 - | Committee Democrats for inclusion in the Roosevelt tax program: New rate, Old rate, Per cent. Per cent. 30 33 36 39 42 New tax, in dollars. $9,560 11,660 14,000 16,580 19,400 24,500 30,000 59,000 89,000 120,000 152,000 218,000 286,000 461,000 641,000 1,371,000 3,591,000 To these surtaxes in each instance must be added the “normal” tax of 4 per cent levied on all net income over $4,000. said, “is that it felt an excess profits tax was a fairer tax, but was willing to adopt the principle of a grad- uated tax to see how it would work.” As a revenue producer, he told Senator Walsh, Democrat, of Massa- chusetts, he thought the excess profits tax would be the better. Inheritance Taxes Studied. Numerous points involved in the administration of the proposed in- heritance taxes were still being analyzed today. Ome under discus- sion was this: Suppose a trust fund—life estate— were left to an individual who would get only the income from that fund: which later would be passed on to & second individual. The first person’s age and life expectancy would be calculated on mortality tables, and his tax would be in proportion to the benefit he received. The second per- son, who got the lump sum after the death of the first, would pay the reg- ular inheritance taxes. Should the trust fund be passed on to a second generation, the benefits to both first and second would be calcu- lated on a life expectancy basis and the tax divided on a pro rata share. The Senate Committee is expected later to call representatives of the Na- tional Association of Manufacturers and the Chamber of Commerce of the United States, along with 28 persons who had asked to be heard. The hear- ings are supposed to close by Friday 3 . Equitable, Says Doughton. Discussing the bill before today's “I think it's a good bill. It im't perfect, for nobody can draft a tax bill the first time. But I think it's equitable. ' The Government needs the money and the bill would take it from those who have it.” Representative Martin, Republican, of Massachusetts, was asked whether the Republicans would have a special conference to decide their attitude toward the bill. “We don’t have to have a conference decide to vote against it he re- plied. “It's neither a share-the-wealth Outline of Rates In Tax Plan to Net $275,000,000 100 Million of Sum Anticipated From Excess Profits. By the Associated Press. An outline of the tax rates by which the House Ways and Means Committee proposes to raise around $275,000,000 more each year: 2 Excess profits, estimated revenue, $100,000,000. Profits below 8 per cent on the adjusted declared value of capital, no tax; 8% per cent, tax, 5 per cent; 12-16 per cent, 10 per cent; 16- 25 per cent, 15 per cent; over 25 per cent, 20 per cent. Individual incomes, revenue, $45, 000,000. An increase in present sur- taxes on incomes of more than $50,~ 000. On $56,000 income the $6,000 above $50,000, now taxed at 30 per Roosevelt. | “With mention of his renomination | next year, a few Democrats have been heard to say he should not be nom- inated and an even less number have been known to say that he would not be nominated. Such remarks are scarcely worthy of notice.” Held by G-Men U.5. EXPORTS SHOW GAIN ON IMPORTS “Favorable Trade Balance” GEORGE HEWITT. Justice Department officials to- day declared Wood and Hewitt had confessed their part in the kidnaping of Benjamin H. King of Fort Myer, Va., who is said to have been abducted July 22 and held for $8,000 ransom. MRS. FANNIE LYLE DIES Woman, 75, Had Recently Left Hospital for Stay at Home. Mrs. Fannie Lyle, 75, who recently left a local hospital for a stay at home before returning for treatment, | | died early today in her apartment, at | 1412 Chapin street. 8he was pronounced dead on ar- rival of her family physician. Reported for First Time in Three Months, ° By the Associated Press. A For the first time in’ three months, United States exports were shown to- day by Commerce Department figures to have exceeded imports. . “In contrast with the usual seasonal decline of 5 per cent from May to June,” the department said in its monthly foreign trade report, “ were 3 per cent higher, while imports, which usually decline 7 per cent, were 8 per cent smaller than in the pre- ceding months. “Compared with June a year ago, exports were slightly smaller in value, while imports showed an increase of a little over 15 per cent.” An increase of $4,074,000 in raw cotton exports accounted largely for the exports gain, Exports in June totaled $170,193,000 in value, compared with $165,456,000 in May and $1%0,519,000 in June, 1934. Imports in Jure totaled $156,756,000, compared with $170,559,000 in May and $136,109,000 in June, 1934. ‘The excess of exports—the so-called favorable balance—in June was $13,- 437,000, compared with a favorable balance in June, 1934, of $34,410,000. For the six months ended June 30, the favorable bulance was $29,422,000, compared with a favorable balance in the first six months of 1934 of $172,- 210,000. Gold exports in June were $166,000, compared with imports of $230,538,- 000, an excess of $230,372,000. In May exports were $49,000 and imports $140,065,000. June, 1934, exports were $6,586,000, against imports of $70,- 291,000, Kidnap (Continued Prom First Page.) up last Friday. He was non-com- mital in his statements at first. Hewitt and Wood were questioned by Hoover’s men in a locked room at the Washington fleld office in the Justice Building. They made con- flicting statements that finally, it is alleged, trapped them into damaging admissions. Yesterday, according to a spokesman for Attorney General Cummings, both men confessed. King told of a previcus alleged at- tempt to extort $3,000 from him under threat of invoking income tax laws against him. On that occasion, he said, Hewitt brought to him a man who posed as a Federal tax collector and who displayed a badge and gun. | King gave the stranger a check for $3,000. All the while, officials said, Hewitt | was representing himself as King's friend and adviser. ‘The official version of the kidnaping {s that Hewitt and King were sitting Blames Reds FOMENTING STRIKE TO DE- LAY WARSHIP PROGRAM. JOHN F. METTEN, President of the New York Ship- building Corp., who charged yester- day before a House labor subcom- mittee that communistic agitators were fomenting a strike at New York to delay the warship building program of the Government. —Harris-Ewing Photo. in the yard of Hewitt's home on Mili~ tary road at the edge of Fort Myer reservation, Monday night a week ago when Wood suddenly appeared, pointed | a pistol at King and demanded $3,000. King is reputed to hsve saved many thousands of dollars from his meager earnings as a laborer in Arlington Cemetery and at other places. Wood is alleged to have ordered both men into a car, pretending not to know Hewitt any better than he did King. The car was driven acrgss the Potomac, through downtown Wash- ington and was driven around in Maryland for some time, finally arriv- ing at Piscataway, about 15 miles across the District line in Southern Maryland. Parking half a mile from the home of Oscar King, officials claim Wood sent Hewitt to the brother's house for Benjamin’s bank book. The brother, | suspicious, told Hewitt he would not | surrender it unless he had a written request from Benjamin. Hewitt re- turned and Benjamin thereupon went to his brother’s home, authorities state, and got the book. The brother was convinced some- thing was wrong, and after pondering the situation for some time, tele- phoned to the First National Bank of Southern Maryland, at Upper Marl- boro. He told Cashier Willlam 8. Hill he suspected Benjamin was being made the victim of some extortion plot. When the car arrived at the bank Wood is alleged to have remained in the car while Hewitt accompanied King into the bank. Hill expressed office while he arranged to get the money. Instead, Hill called police. Wood, apparently becoming fright- ened, is alleged to have driven off as Sergt. A. W. Hepburn and Deputy Sheriff Willlam A. Clifton arrived. The officers arrested Hewitt, and King broke down and told of the ordeal through which he had just gone. Pederal agents were called in and they asked Sheriff Howard Pields of Arlington County, Va., to arrest Wood on sight. The reported confessions followed. The case, although the first to in- volve an actual kidnaping, is not the first brought in this vicinity by the Department of Justice under the “Lindbergh law.” A local colored man was convicted more than a year ago of violating the law by threaten- ing to kidnap the granddaughter of Ms). and Mrs. L. E. Colller, 1857 Bilt- more street. —y Johnson (Continued From First Page.) my conference with Walter in De- troit. All the directors and myself feel our first duty is to the Cleveland public.” RUTH MAY SUCCEED JOHNSON. By the Associated Press. NEW YORK, July 30.—Babe Ruth has told friends he hopes to get back into major league base ball as a man- ager—possibly at Cleveland—but there have been no definite developments calculated to bring this about, so far as base ball men here are aware. The Babe won't talk, meanwhile, for pub- Hleation. Some quarters have understood that a New York and Cleveland banking group, dickering tentatively for con- trol of the Cleveland club, had in mind the possibility of installing the former home run king as manager of the Indians. It is generally felt that any shake- up in the Cleveland organization will result in the ousting of Walter John- | son as pilot. Johnson, the victim of ill luck since taking charge of the Indians, has been under considerable fire in Cleveland. Ruth’s prospects of landing a big league managerial berth were not en- hanced, however, by his experience with the Boston Braves this Spring. The Babe feels it was not a real test but it is the general feeling among the magnates that he failed to demon- strate the qualifications required for field leadership. LOG CABIN INN | 4 Miles Beyond Silver Spring on Georgia Ave. Extended Beautiful surprise when King presented a check | for $8,000 to be cashed and made sev- | eral inquiries. King's replies and| Hewitt'’s action aroused his suspicions | and he asked the pair to wait in his| No Cover Charge at Any Amsie Sice anaer i S "R Mavbe we ought to charge vou MORE! I. For, without fear of contradic- tion, we make this statement: ARROW BEER IS PREMIUM BEER AT THE PRICE OF ORDINARY BEER. Away back in 1913, when all beers were at their best, ARROW BEER S only human nature, we ess, to think the things we pay more for are better...And on that score maybe we ought to charge you more for ARROW BEER. sold at a premium . . . it was worth that premium then and it is the same grand beer today. The majority of Washingtonians know this . . . they won’t. . . they can’t drink any beer but ARROW . . . no other beer satisfies them. So we say this: “‘If you don’t drink ARROW BEER. . . try it for two weeks! At the end of that time, only the quality of ARROW will sat- isfy you’’. Drink ARROW and relax! a1 BALTIMORE, MD. L)