The Bismarck tribune., 1931-12-17
G. O.P. PRESSES FOR
CONSIDERATION BY
HOUSE COMMITTEE
Smell Seeks to Present Legisla-
ton For Final Action
in January
SEES IT AS BUSINESS AID
Some Provisions Expected to
Draw Fire But General
Agreement Is Seen

Washington, Dec. 17.--tF}-Congres-
sional Republicans have been urged by
President Hoover to press for early
action on his proposed $500, o,ooo.e 800
reconstruction corporation" and SEN
ate committee hearings will start Fri
day.
On the house side, Representative
Smell, the Republican leader, request
ed Chairman Steagall Of the banking
committee, to expedite hearings so the,
legislation could be brought up for ac-
ton in January.
while we Republicans are not in
a position to formulate the house pro-
gram, we plan to do everything posi-
BILE to get action on this measure"
Shell said.
Mr.. Hoover believes this measure
will do much to bring about economic
improvement that will relieve the
banks of much strain"
Steagall indicated hearings on the
bill, introduced by Representative
Strong, Republican, Kansas, also
would get under way Friday. A mea-
sure to create $l00, 900 900 revolving
fund for the federal farm loan banks
was approved Thursday by the COM
mittee.
Modelled along the lines Of the war
finance corporation, the reconstruc-
ton organization was proposed by
Hoover in his annual message to help
in mohilizing Americas wealth to
overcome national difficulties.
Half Billion Capital
Opposition faces some provisions OF
the measure, but eventual approval OF
the general principles at least Is ex-
pected.
Under the bill, the half-billion cap
ital stock would be subscribed by the
government. !.
Loans would be made to financial
institutions, including banks, building
and loan associations, trust compan-
les, insurance companies. and others,
upon such security as the corporation
might require.
The loans could be direct, or in dis
counting and rediScounting paper
rendered by the participating institu-
tions. They would be limited to three
years, but could be extended not more
than five years.
To Delay Liquor Vote !.
Representative Hatton w. Summers,
the Taxan who now heads the house
judiciary committee, wants prohibition
legislation shelved until economic
questions have been handled.
His committee must pass upon all
judicial measures, among them
amendments to the bankruptcy laws
antitrust laws, and the numerous
proposals for modification or repeal
of prohibition.
Summers Thursday declared him
self In favor of "a truce on the liquor
question until we shall have done our
best. unitedly and with concentrated
purpose, to relieve the economic dis
tress Of the people"
Such a course from congress, he
said, 1.-The common sense OF the coun-
try will approve" :.
"The indications now are the judi
ciary committee will thoroughly con-
slider the bankruptcy law and its ad-
ministration," he said. requests have
been made for a hearing looking to 9
change in the administrative provi-
sions Of the antitrust law. The com
mittee may re-examine the whole
matter of the antitrust law and it,
administration"
Leaders had predicted prohibition
action this session, but Summers mace
1t clear he would not be among those
pressing for modification. ;
I'VE are all in the same boat now
he said, still stressing the economic
crisis. We do not know how far from
shore we are. We do not even know
where the shore is.
For a people in that situation te
turn aside from trying to save them.
selves and have a big fight over some.
thing they cannot settle now does moi
seem to me as sensible"
Senate VIII Act
The senate judiciary committee
plans, however, early consideration O.
proposals for prohibition referen'
dunn.
Chairman Norris 50 assured thl
senate Thursday after Senator Bing'
ham, Republican, Connecticut, intro
duced resolution proposing con
stitutional amendment 10 require tina
future amendments to the constitu
ton giving the federal governmen
added power must be ratified by stat
conventions instead Of legislatures.
Meanwhile, house Republican anti
I prohibitionists sought 20 harmonic
their work with that Of Democrat
who belonged to the old bipartisan
wet bloc