The Washington herald., 1921-08-18
LEADERSOPPOSED
TORECESSU UNTIL
RAIL BILL PASSES
Eugene Meyer Says Re-
lief Measure Would I
Restore Industry:
ny MARK SULLIVAN.

l.
That the administration does not
want Congress to adjourn until
sitter 1t has passed the so-calied
railway bill Is geherally under
stood. But It is also apparent that
u this is to happen Il will prob
ably be necessary for the President
to overcome once more his reIuct-
ance to press his personal leader
ship on Congress. -s
There Is a group Of Senator's
who are opposed to the railroad
bill. as such. and separate group
who are either opposed to taking
a recess or Indifferent about it.
Such a combination OF opposition
and inertia might readily delay the
bill a considerable period, OF pre-
vent its passage altogether.
says 1t Would Aid Trade.
Those members of the admins
tratiop who have been urging Con-
gress to act on the bill base their
plea on the wholesome effect It
would have on the business situa-
ton throughout the country.
Roughly the nature of the bill In
that the government should pay the
railroads in cash at once 10 the ex-
tent Of s500.oo0.ooo. on account Of
what the government owes the
roads: that the offsetting. accounts
which the railroads owe the gov
ernment should not be demanded
now. but should be funded into ten
year bonds, and that the cash which
the government needs for the
transaction should be obtained by
turning over the governments rail-
road securities to the War Finance
Corporation and ultimately selling
them to the public.
Bill Urged by Eugene Meyer
The direct and immediate purpose
of the administration Is to affect
the economic situation of the coun-
try favorably by making a large
sum OF money available for the
railroads to employ, labor in the
upkeep of the roads. Probably the
best statement OF what the admin
istration hopes to accomplish by
the bill was made by Eugene Meyer,
the head of the War Finance Cor
poration, in a statement to the
House Committee on Interstate
Commerce. He sa6d:
Il believe il would be a distinct
economic asset to this country, OF
the greatest Importance, to restore
labor to a full degree Of employ
ment. II there are 100000 men
who are going to be employed as a
rnSntIt ~ fhfa lna II
erage of 81 a day. that would be
100000 9 day of production in
stead of nonproduction, and II goes
on down the line and affects all our
commerce and industry and finance
and agriculture. 1t will be one OF
the most important steps in recon
struction. I should feel very much
ashamed. as one American citizen,
to go through the winter with
100000 or 100000 men unem-
ployed in this country UnempIoy-
ment is merely an expression of
economic bad management for tre
most part.
Would Restore Industry.
II do not know of a single thing
that would do more to restore the
housiTy I" tne country at this
time-before the winter comes on.
when the amount of unemployed IA
Dor will be increased by the re-
turn Of the men who have gone
into the harvest fields this sum-
mer-than this particular measure
II anybody knows of one. l would
like to hear it, because I want to
advocate it,"
Tie opposition to the measure Is
put chiefly on the ground, that,
even though it Is largely a mere
bookkeeping transaction on the
part Of the government. it will
amount in the end to a certain
amount OF renewal of the kind of
rrsdit imitation from which we have
been tryinG to recover. Anotner
objection, which comes chiefly
from the old advocates of stringent
government discipline of the rail-
roads, is that this proposal Is i'm
proper largess to railroads. which
according to the critics have al
ready been treated with too much