US Presidency
1932

They passed Indian claims bills to reopen settlements 75 years old in order to favor certain localities at the expense of the Public Treasury 7. They passed a bill instructing the Federal Reserve System and the Treasury to fix prices at averages prevailing during the years 1921 to 1929 by constantly shifting the volume of currency and credit and thus creation of every uncertainty to business and industry by a rubber dollar. This bill was stopped, but it has not been removed from their political calendar. 8. They defeated a large part of the national economy measure proposed by the administration by their refusal to accept our recommendation, by reduction of ordinary expenditures from $ 250 million to less than $ 50 million, a part of which we subsequently rescued in the Senate. 9. They passed the Garner-Rainey pork-barrel bill increasing expenditures by $ 1,200 million for unnecessary nonproductive public works, purely for the benefit of favored localities. We stopped this bill, but it is still on their political calendar. 10.