Imperial Valley press., 1931-10-07
Hoover Program
To Aid Business
Continued from page y

to provide greater credit for farm
ers.
President Hoover Will confer
with real estate men at p. m. to-
day to consider the pressing mor:-
gage situation.
Statement Issued
Last nights conference began at
9 p. m. and ended just at midnight,
At 12:40 a. m. today President
Hoover issued a statement which
had been agreed upon in the con-
ference, outlining the foregoing pro-
gram:
The times can Ior unity Of ac-
ton on the part Of our people 1t
said in conclusion. I'VE have met
with great difficulties not Of our
own making. 1t requires determin-
alton 10 overcome these difficult
ties and above all to restore and
maintain confidence. Our people
owe it not only to themselves and
in their own interest but they can
by such example Of stability and
purpose give hope and confidence
in our own country and to the rest
CT the world"
The question of increased taxes
and an extra session Of congress
were not discussed.
President Eoover's sudden action
in summoning more than 80 Re-
publican and Democratic members
Of both houses provided one Of the
most spectacular occasions Wash
ington has seen since the war. Its
Importance was marked in Wall
Street yesterday when, even before
his program was revealed stocks
took long upward squirt. Believ-
ing the existing emergency second
only TO war, Mr.. Hoover sought a
virtual political truce in seeking un-
flied support for his program.
Though this support was granted
n principle on the financial program
some Democrats present indicated
opposition to any sweeping armis-
tice. Strong independence was
manifested especially by Rep. John
n. Garner, minority floor leader
ana probable speaker in event the
| Democrats organize the house. His
attitude foreshadowed rough politi-
cal warfare in event the Demo-
Gratis take control in the house.
Plan Opposed
President Hoover's plan to extend
| the German moratorium also
| brought strong opposition from sew
eral. including Senator Watson ma
, jority floor leader, without whose
support pro-administration action
/ n congress would be difficult.
Democratic independence flare up
/ almost as soon as the group had
settled in the rockers and on the
! diyans in the library on the second
floor.
Mr.. Hoover opened the confer
ence by reading his statement which
was much in the form later given
TO the press. AS he concluded he
said, according to one of those
! present:
''This is what 7 want 10 recon-
li4t44A W CG4lBAt too dIAQ Hdllb JOH
! gentlemen 10 underwrite it."
Garner broke in.
"I told the President Garner
said later, that this was an extra
ordinary situation and that il
looked as if he wanted US TO write
his message TO congress" Mr.
Hoover replied it was an extraordi-
nary situation and that was why
he had called them TO Washing
ton.
One witness said Mr.. Hoover red
dened at Gamers interruption
| The President, he said, began draw
ing geometrical figures on a pad
The domestic financial features o1
the Presidents program were agreed
to in principle with little discus
sion.
Then came the cebt question.
That was where the row began.
one Of those present told the Unit.
ed Press.
Mr.. Hoover stated he intended
to take up the question Of extend.
ing the German moratorium with
Premier Laval here later in th'
. month. No time was indicated