The Senate:
Passed without roll call the Glass-Steagall bill to broaden the Federal Reserve's rediscount base, free gold and increase currency; returned it to a conference with the House to adjust two Senate amendments: 1) an effective time limit of two years instead of one; 2) a limit of $2,000,000 capital for individual borrowing banks instead of $500,000. ¶ Defeated (48-to-35) the Costigan-La Follette $355,000,000 direct unemployment relief bill.
¶Confirmed the appointment of Joseph Clark Grew, Ambassador to Turkey, to be Ambassador to Japan. ¶Adopted a House resolution authorizing the Congress to place a wreath on the grave of George...
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