The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1931-12-18
CHIEF POINTS OF
HOOVER PROGRAM
Concluded from last issue.)

The Hoover program included
the following additional recon
mendations:
1. Railroads, whose stability wa.
necessary to economic recovery
should be enabled to reduce costs
by proper consolidation, and com
peting services should be subject
ed to rate regulation.
2. Authorization by congress for
further government advances to
federal land banks to make possible
greater aid to agriculture.
3. Legislation to enable federal
reserve banks to make quickly a.
valuable to depositors ONE portion
of funds tied up in closed banks.
f.. Establishment of a system of
home-loan discount banks as out
lined in a recent presidential state
ment.
5. Extension during emergencies
of r%ediscount eligibility provisions
of the federal reserve act, without
lowering the safeguards OF the
system, as approved in the White
House conference with congress
ional leaders Oct. 6.
6. Prompt Improvement of bank
ing laws to further safeguard de-
posits and credit flow and congress
sional investigation of the need
for separation of different kinds of
banking, enlargement of branch
banking and ways of extending
membership in the federal reserve
system.
T.. Consideration of practical
questions relating to deposits and
investments of postal saving
banks, which have more than dou-
bled deposits in the last year.
8. Antitrust laws should not be
repealed, Mr.. Hoover said, but he
urged congress to consider wheth-
er changes should be made to end
Generalization in the coal, oil and
industries.
Cling to Principles
Mr.. Hoover expressed confidence
the country would adjust itself
to changing conditions now as it
mas in the past without any revo-
utionary action.
at is inevitible," he said, that
y, ~ acA two roTanh Of tho 1nnic1o
ion proposed to the congress and
many of the recommendations of
he executives must be designed
meet emergencies. In reaching
solutions we must not jeopardize
hose principles which we have
ound to be the basis of growth of
he nation.
1.-THE federal government must
lot encroach upon nor permit To-
al communities to abandon that
.,recious possession of local initia-
i've and responsibility. Again. just
s the largest measure of social
responsibility in our country rests
pom local self-government, so does
he largest measure of social re
possibility in our country rest
pom the individual. If the individ-
al surrenders his own initiative
nd responsibilities, he is surrend-
ring his own freedom and his own
1t is the duty of the nation
| government to insist that both
he local governments and the in
ividuals shall ssum and bear
lese responsibilities as a funda-
rental of preserving the very bas- ]
Of our freedom"
Mr.. Hoover added that though
lis is a distressful time, the peo- '
lie have shown high courage and 8
esourcefulness.
with that spirit, | have faith t
lat out of it will come a sounder t
fe, a truer standard of values, a e
-eater recognition of the results j
honest effort and a healthier at il
,osphere in which to rear our
lildren." i
Absence of Disorder v
He found fundamental national
aims wen in the depression in n
re absence of public disorders is
I'd in industrial conflict, an en- g
rgement-of spiritual and social re e
possibility among the people, ap-
ication of better methods in bus R
ess, large scale public improve il
ents, gains in knowledge and in b
lblic health. D,
The country is richer In physi- Ell
u property, in newly discovered b,
sources and in productive capa- i'd
ty than ever before" the presi
mt said. m