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BRISBANE
THIS WEEK
Mussolini Warlike
Supreme Court Power
All Happy There
Learning How to Spend
Mussolini has found the opportunity
to show the world what it means when
modern "It o m e"
starts moving.
lie has mobilized
an army with air
planes to supple¬
ment tanks and ar¬
tillery, and the Em-
peror of Abyssinia,
Halle Selassie, must
discipline his un¬
ruly chiefs that
have offended Mus¬
solini by an attack
on African colonies,
or so much the
worse for Ethiopian
Arthur Ilrlahnne Selassie, who be¬
lieves that he is the
direct descendant of King Solomon and
the Queen of Sheba.
Maybe he is, but he will encounter
a problem that King Solomon’s wisdom
could not solve for him when he meets
Mussolini’s airplanes.
If wise, Selassie will pay the indem¬
nity that Mussolini demands. As a
practical business man, Mussolini al¬
ways asks a little soothing cash. He
got some from Greece. Also, Selassie
roust salute the Italian (lag, which
cost8 nothing. Mexico would not do
that.
One question may surprise you con- i
cerning Supreme court decisions set¬
ting aside laws passed by the congress I
and signed by the President, on the
ground that congress, in passing the
law, had exceeded its constitutional
authority. This Is the question: Are
those Supreme court decisions in them¬
selves unconstitutional?
When ttie Supreme court, sometimes
by a narrow margin of live to four,
declares a law unconstitutional and
void, is it exceeding Its constitutional !
authority?
Where in the Constitution of the
United States do you find authority for
the Supreme court power to overrule
congress and the* President In the mak¬
ing of laws? This absence of authority ‘
is no accident. Those that wrote the
Constitution, after long arguing, dis¬
puting and many concessions, knew,
presumably, what they wanted the Con¬
stitution to say. And they did not
want it to give the Supreme court the
power to veto laws, that it ^ w as¬
sumes and exercises.
In London. John Puckering, fifty-
eight, apparently dead, was revived
after five minutes. Meanwhile, he had
gone to heaven, lie saw interesting
things, came back to tell of them.
Souls, evidently, travel more rapidly
than light, which takes 900,000,000
years to get outside of the universe ns
we know If, going 180,000 miles a sec¬
ond. Mr. Pickering says heaven is
filled with a “happy crowd.”
There were no children. “All were
dressed as on earth."
No moths in heaven, of course; no
depression either.
Mayor LaGuardla, consulting with
President Roosevelt about loans for
New York city Improvements, again
proves that we have at last learned
to spend money. Something over $1,-
100,000,000 would be the preliminary
total, for runnels, highways, public
schools, a $150,000,000 housing pro¬
gram, $232,000,000 to bring a better
water supply from the Delaware, ex¬
tension of Park avenue as a broad
highway above the tracks of the New
York Central north to the Bronx, elim¬
ination of slums and the slum charac¬
ter from the East’ river shores.
From Ireland comes Jack Doyle, via
Mayfair, London, 0 feet 4, handsome
face, nice smile, big muscles, telling
the truth about himself, whatever the
damage to tils modesty: “I am not
like tlie usual lowbrow fighter. I’ll go
up and up and up to the very top.”
Mr. Doyle .sings “When Irish Eyes
Are Smiling” very sweetly. Mr. Max
Baer, at present prize-tight champion,
cannot slug well, but he, too, lias self-
confidence: “Jack Doyle’s prophecies
are all very well. He may go ’up and
up and up,’ but sooner or later on the
road up he will meet me, and then he
will go down and down and down."
- £
Alfred P. Sloan. Jr., head of General
Motors, announces that 30.CKKJ employ¬
ees, under the company’s saving and
investment plan, will have $11,IRK),000
cash divided among them. The em¬
ployee who saves $25 a month, the
maximum, $3(K> a year, gets back his
$.300, plus $321.52, contributed by the
company, including $114 for interest.
It is rather diilicult to persuade men
to “arise, ye prisoners of starvation,”
and “throw off their chains," when one
of the chains is attached to an "$11,-
000,000 melon.
Germany plans an army of 400,000
men, small compared with the kaiser's
army. Rut the real lighting machine
hereafter will be located in the air,
and, besides, German recruits for the
400,tXK) army will serve only one year,
instead of four, giving a rapid turn-
over of trained fighters. At the end of
five years Germany would have 2,000,-
iKX) men trained to fight It is likely,
however, that whatever is going to hap-
pen will happen long before five yearn
are up.
C- King Features W.NO Syndicate, In*.
Service
CURRENT EVENTS
ROOSEVELT SIGNS CIGARETTE
INDUSTRY CODE DESPITE
LABOR’S PROTESTS
By EDWARD W. PICKARD
Wrjtern Newspaper Union.
PRESIDENT ROOSEVELT extended
* no olive branches toward the Amer¬
ican Federation of Labor when he
signed the cigarette industry code,
which labor leaders
iiad declared was “tin-
s a 11 s f a ctory," The
breach between the ad¬
ministration and labor
is daily growing wider.
The code, finally
signed after months of
argument between the
tobacco Industry and
labor, calls for a forty-
hour week and mini¬
S. Clay mum wages from 25 to
Williams 40 cents an hour. La¬
bor leaders also ob¬
jected to the presence of S. Clay Wil¬
liams, administration hoard chairman,
who they declare is not in sympathy
with labor. The President issued a curt
statement Informing the federation
council that Williams’ services had
been satisfactory and that he had no
intention of removing him without
cause.
The executive council of the federa¬
tion. composed of William Green and
presidents of the federation of seven¬
teen International unions, states that
some present administration labor poli¬
cies are bringing increased unrest
among workers which may reach the
danger point of widespread strikes un¬
less corrected.
Thus far, the President seems to
have had the best of the argument
Labor leaders, however, are expected
to push the fight for a "prevailing
wage" clause In work relief legislation,
thus endangering the administration
program.
npME into President the battle threw bring all the his weight revolt¬
to
ing senate appropriations committee
back Into line on his $4,880,000,000 works
relief bill, and the committee finally
voted to reconsider the McCarran pre¬
vailing wage amendment.
Chairman Glass, Virginia’s unrecon¬
structed rebel, was requested by the
President to Inform the committee that
Insistence on changes they had written
Into the bill will wreck his plan to end
the dole. Another senator, said to be
ckise to the administration, intimated
that the President will veto the bill
if it is enacted with major changes
“that will not permit him to carry out
his program."
The McCarran amendment would
increase wage rates paid 3,500,000 re¬
lief workers to “the prevailing wage
scale." The President has advocated
$50 a month wage rates, based bn his
belief that payment of low wages will
discourage employables on relief from
taking advantage of private work op¬
portunities and shift men from private
i to government payrolls.
It lias been intimated that changes
will be suggested by the administration
to quiet assertions that the social se¬
curity program takes authority away
from the states.
Senator Adams, California Demo¬
crat, has stated that he will ask the
committee again to limit the work-relief
appropriation of $2,880,000,000, which
he estates is sufficient to continue on
the present basis, but not enough to
provide the higher wages and carry
out tile projects the President has in
mind. An effort to curtail the pro¬
gram in this way was defeated in the
committee a few days ago, although
only by n tie vote.
VTINK old gentlemen of vast dignity,
' comprising the United States Su¬
preme court, conferred together for
five hours Saturday. Then, through
Clerk Charles C. Cropley, Chief Jus¬
tice Hughes announced that there
would be no decisions handed down on
the following Monday. Nothing was
said about the rest of file week, but It
was assumed the ruling on the gold
clause cases would not be handed down
before February 18. It was thought by
the well informed that the delay was
due to the slowness with which the
dissenters were preparing their views.
Meanwhile anxiety over the matter,
at least in government circles, was
growing less daily. Attorney General
Cummings spent two hours with i’resi
dent Roosevelt going over the plans
which have been drawn up for imme¬
diate action in the event that the de¬
cision goes against the government.
7TTH the full approval of the ad¬
ministration, the army and navy
are to receive $40,(XXUXX> to carry out
a program of national defense which
will consist mainly of improved strong
holds on the west coast and in the Pa¬
cific. The money, which will be shared
equally by the two departments, comes
from a $,3tX),000,(KK) public works fund.
Some of the navy’s part w ill he spent
along the Atlantic, but the greater part
will go for shipyards, dry docks and
bases on the Pacific coast, at Pearl har¬
bor, Hawaii, and at Coco Solo. Canal
Zone, which is a submarine base.
Nearly S11,IXX),(XH) of the army’s
share is to be used in beginning the
construction of a great air base in
Hawaii. The total cost of this base
is estimated at $18,000,000.
The decision to use most of the
money in the Pacific was said to have
been Influenced by the fact that the
fleet has been concentrated In Pacific
THURSDAY. FEBRUARY 21, 1935
wafers during much of the past two
years. Navy officials stressed before
the naval committee, that facilities for
handling the fighting vessels on the
coast are Inadequate.
Japan is supposed not to be alarmed
by this program, congressional leaders
having given public and careful assur¬
ance that no “offense" is intended and
that such propositions as the Hawaii
air base would have been put forward
even if Japan had not denounced the
Washington naval treaty.
At a meeting of the army high com- ;
mand the house with the military committee of j
these plans for defense w'ere j
threshed out thoroughly. Gen. Douglas
MacArthur, chief of staff, recommend¬
ed to the committee the purchase of
800 new armored and equipped air- ;
planes at a cost of $90,000,000 to give
the army the aerial armada of 2,320
modern aircraft recommended by the
Baker aviation committee. These ad¬
ditional aircraft are necessary, Mac¬
Arthur said in a memorandum, to ex¬
pand the new general headquarters air
force to give it 900 fighting units, for
its Pacific, Atlantic and central di¬
visions.
Soon after this meeting the com¬
manders of these three divisions were
announced by Brig. Gen. Frank M. An-
ihvws, head of the GHQ air force.
I-h'ttt. Col. H. H. Arnold, March field,
Calif., was named commander of the
first (Pacific) wing with the rank of
brigadier general. Lieut Col. H. C.
I’ratt, former assistant chief of air
corps, was named commander of the
second (Atlantic) wing at Langley field,
Va., with tlic rank of brigadier generaL
Liuet. Col. Gerald C. Brant will com¬
mand the third (central) wing, Fort
Crockett, Texas, with the rank of col¬
onel.
/CHANCELLOR ADoLPH HITLER
went into a herrait-like retreat to
mull over the Anglo-French accord, and
is searching for a means that will en¬
able him to extract
the remaining teeth
from the Versailles
treaty. Diplomatic
quarters anticipate the
relcbfuehrer will
emerge with counter
proposals to the prof¬
fered plan.
What these propos¬
als will be can only he
conjectured, but they
Chancellor are expected to deal
Hitler with the future
strength of Germany’s
standing army, the plan of certain
French military circles for lengthening
the French enlistment period, and the
future course of Russia. In any event
he will make an attempt to separate
the proposed air alliance from the In¬
clusive security agreement worked out
by the British and the French.
The London plan, reich officials have
bluntly stated, is not acceptable in its
present form, and Germany will not
join any new general pact unless some
of her colonies are returned. European
boundary changes which Germany
wants are chiefly those of Memel and
Danzig, cut off from the Fatherland by
the Versailles pact.
Objections are also seen to the pro¬
posal that Germany join the Eastern
pact urged by France and the Franco-
Italian treaty guaranteeing Austrian
independence.
The air alliance, however, Is viewed
differently by the Nazis, since it would
give them either the chance to build an
air fleet or get recognition of the fleet
that it Is generally charged they have
already built; Germany would be ac¬
cepted ns an equal partner, touching
Nazi pride and thirst for prestige; and
the reich has hopes of regaining Brit¬
ain’s waning sympathy since the pro¬
posal emanated from London.
Italy, the first nation to reply to the
proposals drafted at London, officially
stepped into line for an inclusive west¬
ern European security agreement,
affirming her adherence in principle,
although making a special exception
of the “special situation of Italy with
regard to Great Britain, and vice
versa." The communique declared that
Italy believes the Anglo-French propos¬
als “contain the possibility of an ac¬
cord with Germany and therefore the
beginning of a period of collaboration
among the interested powers."
'T'HE Jury holds the fate of Bruno
-*■ Richard Hauptmann, accused of the
murder of the Lindbergh child, in its
hands. Only four courses are open—
acquittal, conviction with the death
mandate, conviction with a mandatory
life sentence or disagreement. In his
final plea to the jury, Edward Reilly,
chief defense counsel, bitterly charged
that Colonel Lindbergh was betrayed
by Violet Sharpe, the dead Morrow
maid; Ollie Whateiy, dead Lindbergh
butler; Betty Gow, Lindbergh nurse¬
maid; and Henry Johnson, friend of
Miss Gow. He declared that evidence
against Hauptmann had been ‘‘planted’’
and that the state bungled the investi¬
gation. What impression his fiery
speech may have made is known only
to tlie jurors themselves.
CI’EEDY police action was necessary
^ to avert new bloodshed in Parts
on the anniversary of the uprising
caused by popular indignation over the
Stavinsky scandal disclosures. Thou¬
sands of arrests were made as Com¬
munists sought to arouse tlie public
to a repetition of tlie riots of a year
ago, when 19 were killed in the Place
de la Concorde. Police gave the Reds
no chance to carry out their intended
maneuvers. The most harmless look
ing individuals were escorted a few
blocks and let go with farewell kicks
while those found carrying weapons j
were rushed into Improvised concentra- I
tion camps. Premier Fiandln was
hissed and booed by many tire-eating
Nationalists as he attended memorial
services In Notre Dame cathedral
Washington—It begins to appear
that the Roosevelt administration has
returned from its ex-
Home Affairs curslon into foreign
to the Fore P° rts and ,s now
ready to engage in
rehabilitation of domestic affairs to the
exclusion of international problems, ex¬
cept the matter of reciprocal treaties.
It is true that Secretary Hull of the
Department of State, Secretary Roper
of the Department of Commerce, and
Senator Borah, in the senate, have
talked about foreign affairs in one way
or another, but none of them occa¬
sioned any observation or suggestions
from the White House by their asser¬
tions.
Among the occurrences in the re¬
cent period that tend to show how the
administration again is putting home
affairs to the forefront are the new
banking bill, the plans for recovery
revival under the five billion dollar
public works bill, and tlie determina¬
tion of house and senate lately, under
a White House spur, to clip the wings
of, if not wholly eradicate, the so-called
holding companies. Attention might be
called also to the uprising in the De¬
partment of Agriculture where Secre¬
tary Wallace, and Agricultural Adjust¬
ment Administrator Chester Davis com¬
bined a few days ago to eliminate left-
wing members of their respective staffs.
They did it summarily, but the end is
not yet, either as respects plans of
Messrs. Wallace and Davis, or the yelps
that may be expected from the rad¬
icals who were ousted.
The general information is that, in
shelving foreign matters, Mr. Roose¬
velt has determined to lay aside the St.
Lawrence waterway controversy until
“pressing domestic matters" are dis¬
posed of. Almost in the same breath
it can be said that new activity has
been disclosed on the part of the New
Dealers to spread their doctrine into
the states and establish, if possible,
uniform laws everywhere concerning
privately owned utilities such as elec¬
tricity and gas. While no one will say
so, it is tlie understanding that consid¬
erable pressure is being placed behind
the effort to get state legislatures to
pass uniform public utilities bills, meas¬
ures which have been drafted in tlie
I’ublic Works administration here.
* * *
Probably as important as any legis¬
lation that has gone to congress in re¬
cent months is the
New Banking new banking bill. It
Bill was transmitted to
congress in a most
unspectacular manner. There was no
out-and-out endorsement by the White
House, nor was tlie sponsoring of the
draft made clear. Tlie legislation was
dropped into the house hopper the day
after Representative Steagall, chair¬
man of the house committee on bank¬
ing and currency, had given out his own
summarization. Chairman Fletcher of
the senate committee on banking and
currency received the bill the same
day as Mr. Steagall and immediately
went into a huddle with himself behind
closed doors to study the draft. Later
he announced with apparent pleasure
that it was a great piece of legislation.
Now that the bill has been printed
and is available for public inspection,
a perfect furore has been aroused. The
conservative critics began to squawk
immediately that the measure proposes
to destroy the Federal Reserve system
and concentrate on power of credit
and currency expansion or contraction.
In the hands of a small group iD the
Treasury they contend that this
amounts to establishment of a central
bank and that, under our political sys¬
tem, a central bank would mean an un¬
stable currency. What more could there
be then, they ask, to destroy confidence
in the currency which we use?
New Dealers, in defense of this new
banking legislation, have been given to
making wise-cracks about tlie Old Deal¬
ers, who, they assert, desire to see con¬
ditions of 1928 and 1929 repeated. They
cite, with some justification it seems to
me, that central banks exist in most
of the major countries of the world
and that their service has not been a
bad thing at ail. Further, the New
Dealers argue that the political capital
of the United States is in Washington,
and tlie financial capital has been in
New York. Why, they ask, should there
be such 'a division?
In between these two schools of
thought are sound money advocates
and courageous conservatives who take
the position that the bill has many
good qualities and that it likewise has
many provisions definitely to be avoid¬
ed. You have heard very little expres¬
sion of opinion from this type because,
it Is apparent, they are giving the
measure close study. They will be
heard from later when the legislation
Is taken up by the respective commit¬
tees of the house and senate and it
Is made to appear that some changes
surely will result
* * *
To summarize the banking legisla¬
tion—and I think it is of paramount
interest to every one
Centralized because it touches the
Control currency and credit
so directly—the real
end likely to result from the legislation
is a centralized control in Washington
of the very nerve center of business,
money. Tlie bill proposes to establish
what is called an open market commit¬
tee in Washington and to include as
FERTILIZER HELPS FISH
Larger and more fish may be p ro
duced water, by it using is reported farm fertilizer in i a ]-’ e
in connection
with tests conducted in Wisconsin
Tlie fish do not eat the phosphorus
and lime contained in the fertilizer
The gain in fish, in size and in num
her, comes by the indirect route of
first giving tlie fertilizer to the ma»
rine plants and then letting the fi.sh
eat the plants.—Popular Mechanics
Magazine.
A CHILD’S LAXATIVE
SHOULD BE UQUID
(Ask any doctor )
For your own comfort, and for your
children’s safety and future welfare,
you should read this:
The bowels cannot be helped to
regularity by any laxative that can’t
be regulated as to dose. That is why
doctors use liquid laxatives.
A liquid laxative can always be
taken in the reduce right the amount. dose. You can
gradually of real Reduced
dosage is the secret and safe
relief from constipation.
The right liquid laxative of help. dose gives
the right instead amount of each When
repeated, take less. Until bowels more time,
you are mov¬
ing regularly and thoroughly without
any help at all.
The liquid laxative generally used
is Dr. Caldwell’s Syrup Pepsin. It
contains senna and cascara, natural
laxatives that form no habit — even
in children. Its action is gentle, but
sure. It will clear up a condition of
biliousness Every or druggist sluggishness has it. without
upset.
SYRUP PEPSIN
Baby Cross and
Fretful With
Eczema
Relieved by Cuticura
“Our baby had eczema on her
forehead and on the back of her
head. It started from a blister and
kept spreading over her face. Her
skin was Irritated and red, and she
kept It irritated from scratching so
much. She was cross and fretful a
great deal, and could not sleep well
at night.
“She was affected about two
months before I used Cuticura Soap
and Ointment, and after using
them about three weeks you could
not tell she ever had this condi¬
tion.” (Signed) Mrs. Neal Gladney,
R. F. D. 1, Box 47, Brighton, Tenn.
Soap 25c. Ointment 25c and 50c.
Talcum 25c. Sold everywhere. One
sample each free. Address: “Cuti¬
cura Laboratories, Dept. R, Malden,
Mass.”—Adv.
DO YOU NEED PEP?
Mrs. R. H. Hanner of
2910 Norwich St., Bruns-
wick, Ga., said: "I------- started
taking Dr. Pierce’s Golden
Medical Discovery because
my system lacked strength
and I thought this tonic
would build me up. I took
one bottle and soon felt
myself growing stronger— way."
I gained in every
ew size, tablets SO cts., liquid $100. Large
, tabs, or liquid. $1.35. Ail druggists.
Kodak Roll Film Developed, complete with
high gloss prints 25c coin. Kastern Photo
Service, Box 728. Hopewell, Va.
Standard Table Model RADIO
If under seventy send your ITRPF
name, agre and ten prospects. ■ accepted
Radio to each first thousand
claims. Assessments costing about 80c
monthly. No obligation in answering.
Reference any bank here.
federal mutual assurance assn.
Bex 1487 - Shreveport, La.
INSIDE INFORMATION’
or Indigestion or CONSTIPATION
ILEANSE INTERNALLY the tea-cup way.
larfletd Tea acts promptly, pleasantly,
AiLDLY. Not a cure-all, but certainly effec-
, /... / five In relieving
\ constipation. At
x drug-stores —
25c and 10c.
FREE SAMPLE
Write to:
Garfield Tea Co.
Dept. 12
Brooklyn, N. Y.
GARFIELD TEA
PARKER’S
HAIR BALSAM
Removes Dandruff -Stops Hair Failing
Imparts Color and
Faded Kan ,
Beauty to Gray and Druggets
9 60c and $1.00 at *
2 Hiscryc Chem. Wks.. Patchogu*'i_ —
FLORESTON SHAMPOO - Ideal for ueein
connection with Parker's Hair Balsam.Makrs drug- the
hair soft and fluffy. 60 cents by mail or at
griflta. Hiflcox Chemical Works, Patcho^ue, N.x*
YVXU—7 8 — 3 .'
is
National Topics Interpreted L
by William Bruckart
National Press Building Washington, D. C.
members of this committee three mem¬
bers of the Federal Reserve board
The two remaining members would
come from Federal Reserve banks.
From this it Is seen that the Reserve
board becomes the dominant body. It
takes no stretch of the imagination to
recognize the possibilities. Members of
the Reserve board, while they are ap¬
pointed for a term of ten years, some¬
times resign or die off. It immediately
becomes possible, therefore, to make
the Federal Reserve board a purely
political body dominated by the Presi¬
dent of the United States.
The function of the open mui«.et
committee, as proposed in ttie bill, Is
to order the purchase or sale of govern¬
ment securities in tlie open market. If
these securities are bought, the Re
serve banks issue currency for them
and they increase tlie amount of money
in circulation, thereby easing credit It
the banks sell bonds which they have
in tiieir portfolios, the currency paid
for those bonds obviously is taken out
of circulation and that action results
in a contraction or reduction of the
amount of credit available.
If, for example, the occupant of thp
White House at any time happens to
be an out-and-out inflationist, it is
easy to see how government bonds can
be absorbed by the Reserve banks and
new currency put in circulation in
whatever volume the administration
policies require.
Another phase of the bill would *1
low national banks and state banks
that are members of the Federal Re
serve system to make Joans on real
estate for a twenty-year term. Five
years is the present limitation. One
has only to go back for an examination
of causes of hundreds of hank failures
in recent years to discover that the
five-year limitation probably increased
the mortality among otherwise sound
banks to a greater extent than any
other factor. In other words, to grant
a bank the privilege of making a loan
for twenty years means that such a
bank ties up an equal amount of depos¬
itor’s money in a place from which it
cannot tie suddenly recalled if the de¬
positors take a sudden notion to with¬
draw substantial sums from that bank.
* * *
There is another section of the meas¬
ure which I think is worthy of close
Federal Reserve
Worthy of examination. It pro-
Examination P° s *s to combine the
jobs of governor and
agent, and that the bank policies should
be executed by the governor who is
selected by the bank board of directors.
This provided something of a dual
control, a check and balance on the
exercise of power. Now, however, the
effort is to be made to combine the
jobs and make the head of the bank a
strictly government representative.
That course naturally is in line with
the Roosevelt program of extending
and expanding federal authority. The
President has constantly increased the
scope of power and influence exercised
from Washington. The current offering
is accepted everywhere as bringing
under federal domination completely
the banking system of this nation. It
does so because none can deny that the
Federal Reserve banks hold a club
over the heads of private bankers wher¬
ever they may be.
So I believe it is a fair statement to
say that Mr. Roosevelt, or those who
are responsible to him, is reaching out
to amplify the control of credit from
Washington which was initiated
through the Reconstruction Finance
corporation, the Home Owners’ Loan
corporation, and other leading agen¬
cies. The Federal Reserve system was
set up, according to the debate on the
measure in congress at that time, to
decentralize credit control and break
the grip which New York exercised
over the volume of credit Now, appar¬
ently, it is all coming back to Wash
ington, probably to be exercised by pol¬
iticians instead of men with banking
training.
In connection with the administra¬
tion’s attention to domestic affairs and
the consequent legislative changes, at¬
tention might well be centered on the
meaning of some of the moves. One
Washington observer wrote in his news¬
paper the other day that the adminis¬
tration was renewing its notes at the
bank. What he referred to was the ex¬
tension of life of the Reconstruction
Finance corporation and the pumping
of more blood into the veins of the
Home Owners’ Loan corporation.
Something similar has occurred with
respect to the Reconstruction Finance
corporation which has been given new
life and about $350,000,(X)0 iu new mon¬
ey by an act of congress.
Then, President Roosevelt has asked
for renewal of the life of the National
Recovery administration and for re-en¬
actment of the National Industrial Re¬
covery act, both of which expire next
June 16.
As a result of these maneuvers a
good many observers are of the opin¬
ion that the recovery efforts have not
been as successful as their optimistic-
sponsors had predicted a year ago.
Renewal of these stop-gap agencies, ex¬
tension of power here and there, and
the initiation of new experiments are
given ns reasons for the belief that
uncertainty exists and satisfactory
progress toward recovery is still more
apparent than real.
©, Western Newspaper I’nioiL