Hit Townsend pension plan. Washington, D.C., Feb. 23. Dr. Harold G. Moulton, right, President of the Brookings Institution, today told the House Ways and Means Committee that the Townsend Old Age Pension Bill 'can readily be demonstrated to be fantastic' while Dr. Willford I. King, left, of New York University, declared that most pension plans, such as the Townsend Plan, do not "add a dollar either to total demand or to total purchasing power," 2-23-39