DR. TOWNSEND’S PLAN
Big Loan From Followers Sought
(Received March 30, 8.50 p.m.)
Chicago, March 30.
Dr. Francis E. Townsend, founder of the 200-dollar-a-month old age pension plan, proposes a loan of 5,000,000 dollars from his followers to be used for a campaign to educate the nation and assure the adoption of his plan. He appeals for individual loans of a minimum of 10 dollars on au unsecured promissory note, payable in 24 months with interest at 4 per cent.
Dr. Townsend, who “walked out” on a committee of inquiry of the House of Representatives last May and advised several of his followers not to give evidence or obey eubpenas, received the minimum sentence of 30 days’ jail and a 100 dollars fine for contempt of the House, of which he was convicted by a Federal jury. He announced that lie would appeal.
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Bibliographic details
Dominion, Volume 30, Issue 157, 31 March 1937, Page 11
Word Count
143DR. TOWNSEND’S PLAN Dominion, Volume 30, Issue 157, 31 March 1937, Page 11
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