The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-10-06
UNITED THRUST
AT DEPRESSION
HOOvER'S GOAL
Calls Bipartisan Farley of
Congress Leaders to
Map Program.
BANKING CRISIS MENACE
War Debt Holiday Extension
Is Probable Topic at
Session Tonight.
BY RAYMOND CLAPPER
United Press STAFF Correspondent


dent Hoover announced today that
the purpose of the meeting Of con-
gressional leaders he has called at
the White House for tonight is to
work out "a program of national
unity" designed to set up a con-
structiye force to displace the dis
constructive ones now at work.
Il feel it is not proper" the Presi-
dent said. "for me, in advance Of
this meeting, to make any further
announcement"
The conference will be concerned
largely with domestic problems, the
President explained, although it
also will touch upon the interna-
tiopal situation
1t was learned at the same time
that Mr.. Hoover had called a con-
ference of about eight leading bank
ers and real estate men to meet at
the White House Wednesday to
consider the domestic business stu
alton with particular reference to
real estate.
Mortgages Cause Concern
Lack of f1uidity in the real estate
mortgage field of finance has been
causing concern in administration
circles.
It was indicated there will be no
formal announcement following to-
nights meeting. President Hoover
wants to work out his complete
program very carefully before Civ
ing it publicity.
Most of the emphasis was placed
upon national issues in the discus
sion of the conference today in
washington, although 1t was learned
that discussion of the international
situation would enter the meeting.
The President is known to consider
the business situation in this coun-
try as directly connected with
European conditions. Eie feels that
it would be difficult to settle the
situation on one side of the At
lantic without consideration of that
on the other.
Democratic Leaders Meet
AS Mr.. Hoover received the press
at the White House, a group of in
fluential congressional Democrats
met with Senate Democratic Leader
Robinson in what appeared to be an
informal caucus on the eve of the
White House conference scheduled
for tonight.
Those who met in the senate
Office building were Robinson and
Senators Walsh, Montana; Hull,
Tennessee; Ashurst, Arizona; Glass,
Virginia.; King, Utah, and Repre-
sentative Garner, Democratic leader
of the house.
The administration has been con-
cerned seriously for some time re-
garding the banking situation. Diff
ficulties arising out Of the uncer-
tainty of bankers regarding the rep
arationS and war debts issue and
the freezing of foreign securities
which are held in large quantities
by American bankers, have COM
bined to present the administration
with a delicate situation.
Meeting Is Decisive
Tonight's conference is expected
to be one of the decisive events in
shaping Americas part in the tan
gled world situation, which tempo
rarily has wrecked the allied plan
for collection of war debt repara-
tons from Germany and American
efforts to obtain repayment of bill
lions of dollars in war loans;
brought Austria and Germany to
the brink of bankruptcy; forced
England to suspend the gold stand
ard, and fastened burdenSome
shackles on the entire world eco
nomic structure.
Senator watson, Republican floor
leader, was summoned from Indiana
to participate in tonight'S delibera-
tionS. Senate Democratic Leader
Robinson of Arkansas, also was
called. John N. Garner of Texas,
house Democratic leader and pos
sible Speaker of the new congress,
arrived by plane Monday
Senator Borah (Rep., Idaho), one
of the most important figures in
the congressional situation, has been
here several days. He has been
consulted by President Hoover re-
garding possible extension of the
moratorium.
Closer Accord Sought
Senators Reed Rep., Pa), Glass
Dem., Va.), and Walsh Dem.,
MONTH are here. Representative
Smell Rep., N. " is expected to
arrive today.
In regard to possible extension of
the debt moratorium, the conditions
on which the United States may in
sist are understood to involve:
/. Closer 8 bcord between Germany
and France; financial assistance to
Germany by France; abandonment
of irritations by Germany. such as
agitation against the Polish CORR
dor, inSistence upon pocket battle
ships. steel helmet parades and
other belligerent demonstrations
which provoke bad blood.
2. Evidence that credits extended
will be used in productive enter
prises and not be poured into arma-
ments and wasteful forms of the
dole.
3. A start toward a real disarma-
ment holiday that will reduce bud
gets and at the same time diminish
mutual suspicious.
VourIv Temnerafures