SNUB TO ROOSEVELT

Gisborne Times, Volume LXXXIV, Issue 12769, 27 January 1936, Page 5

SNUB TO ROOSEVELT

—— WORST DEFEAT SO FAR. HOUSE OVERRIDES PRESIDENTIAL VETO. 324 VOTES TO 61. FINANCE POSITION BECOMES COMPLICATED. (U.P.A. by Elec. Tel. Copyright). (Received Jan. 26 , 6.30 p.m.). NEW YORK, Jan. 25. With the Government's fiscal situation steadily appearing more complicated, and rumors persisting that •Some monetary move is being considered, in Washington, the dollar fell heavily in'the foreign exchange markets to-day. Sterling advanced to 5.02 J cents, the highest since September 133-1. - Government bonds are universally lower.

Whose “New Deal” Plan is being badly wrecked.

In Washington Air. Roosevelt sent Congress a hundred-word message vetoing the Veteran’s bonus payment but within twenty minutes of its receipt the House overrode it by the astouncung vote of 324 to 61. It was the worst legislative defeat Air. Roosevelt has thus far received, and a similar defeat in the .Senate when it is convened on Monday. Under the scheme to pay the t -nus by -‘baby bonds," the Treasure- will probably be forced to raise a billion and a-half dollars within a few mouths to ca'h bonds for veterans wishing money. Heavy Treasury financing is also likely to pay for the Agricultural Adjustment Administration tontracts and other purposes. At the Press Conference to-day Air. Roosevelt lightly pushed aside questions which, were asked regarding the fiscal situation, - and refused definitely to deny or confirm that auy hew moves were planned.