The Bismarck tribune., 1931-12-18
HOUSE EXPECTS TO
PASS MORATORIUM
BEFORE MIDNIGHT
Senate Finds Little to Do and
Adjourns Without Settling
Moses Affair
LAMONT AND MEYER HEARD
internationally Known Banker
Tells Of Foreign Loans
Made BY Morgan
LAMONT AND MEYER HEARD

Washington, Dec. 1S.-(AP)-The
House became fully moratorium
minded Friday, debating the Hoover
proposal in the expectation of ap-
proving it before midnight.
The Senate, meanwhile, found lit
tie to do and adjourned without an
other try at breaking the deadlock
over Moses as president pro tenn.
The president had house leaders In
for breakfast, winning q promise
fr m members of 10Th parties for
rapid consideration of tl:s economic
proposals.
Committees stayed active. On the
Senate side Thomas w. Lamont-in-
ternationally known-banker - testi-
fled the public was unduly alarmed
over the foreign security holdings
Of American banks.
Eugene Meyer, federal reserve
board governor, told a House COM
mittee the presidents proposed "re-
construction corporation" would sue
cor business.
The House public lands committee
decided to defer until February hear
ings on the public lands bill formu-
lated by President Hoover's commits
sion.
Chairman Evans, Montana, was in
structed to confer with the Senate
public lands committee at a later
date.
May Probe Wage Rates
Chairman Connery of the House
labor committee said he would pro.
pose an investigation into wage rates
and would summon labor department
officials and William Green, presi.
dent of the American Federation OF
Labor.
The Massachusetts democrat said
he would introduce resolution Sat.
urday calling for the inquiry.
Made No Specific Plea
Representative Smell, the Republi-
can floor leader, said the president
did not make any specific plea for
partisan action, but talked to the
Democratic and Republican leaders
present as though they were a united
group with common purpose. Smell
added he personally believed the
Democratic leaders were willing to
cooperate in full on emergency eco
nomic legislation.
The house banking committee yes
terday approved the land bank bill
and Smell and Rainey tentatively
agreed on the floor that it would be
brought up in the house for action
Monday.
At a press conference called BY
Walter Newton, one of the presidents
secretaries, he said in answer to ques-
tions that the railroad situation
known to bulk large in Hoover's mind
had been It ouch h e d on "only In its
broader aspects"
Amendment Just Mentioned
It was understood at the white
house that there had been mention
but no lengthy discussion, Of the
amendment added to the moratorium
measure Thursday. barring cancella-
ton or reduction of debts.
Before the house banking commit
tee. Myeer said lack of confidenc,
and fear" were largely responsible fol
the tight credit situation and the ex.
listing economic conditions.
II believe q bill of this kind would
restore confidence In many areas, ane
that alone would be commendable,
he said.
With a capital Of $500, ,00O, 900 fur.
nished by the government. the cor
poration would be authorized to issue
bonds not exceeding 81 SOC, 100000.
The white house took its first for
NAL notice Of the attack upon PreH
dent Hoover by Representative Nc
Fadden, Republican, Pennsylvania.
CONTINUED on page nlnel