Evening star., 1932-05-16


was done to stabilize the dollar, which
he insisted Congress undertake.
How many suicides must there be,
asked Borah, "how many insane, how
many farms sold under the hammer,
how many businesses closed, before the
time has arrived when through some
process We undertake to stay or 10
stabilize the purchasing power Of the
American dollar?"
Barbour Demands Beer Tax.
Just previously, Senator Barbour
(Republican of New Jersey had de-
manded legaliZation and taxation ol
beer, predicting confidence would re-
turn overnight as result.
Barbour said the country wants relief
in the form of a balanced budget ano
pointed out that $284, 900, 600 was raised
BY taxing liquor in 1917.
Prohibition, he said, is definitely in
volved in the economic situation"
We find on every side increasing dis
satisfaction with conditions brought
about by prohibition" he added. The
sale OF alcoholic beverages has not been
prohibited by prohibition"
Early Vote Expected.
An early vote was expected on the
Couzens amendment. However, Chair
man Smoot of the Finance Committee
was confident, and so were Democratic
lea ders, that the amendment would be
defeated soundly, and that the Senate
would proceed then to approve the
whole revenue bill, substantially un-
changed from its present form.
Meanwhile the relief issue, requiring
less immediate decision, was hanging
on a peg while the Democratic Sena-
tors sought to get together on a modi-
flcation of the 81 500 900, 900 plan Of
fered as a compromise between Presi-
dent Hoover and Democratic Leader
Robinson. Senator Wagner, Democrat,
OF New York, who has been working on
the subject long time, proposed a
plan OF his own today. Although his
views have been way out Of line with
the Presidents, he forecast a satisfac-
tory solution.
Bond Issue Endorsed.
Strong support for a Federal bond
issue to finance a gigantic public con-
struction program came today from a
group Of economists, college professors
and business men. Senator Wagner
announced he had received an over
wheimingly favorable response to a
proposing a Sl.l00, 100000 bond issue
70 finance public work already author
lied
Wagner made the responses public as
his committee prepared to meet to con-
slider the compromise relief bill he has
drafted
The replies" Wagner said in offer.
ing the responses to the Senate, con-
stitute remarkable symposium on that
question, which is at the present time
being actively considered throughout
the country.
1T Is comprehensive statement oi
the carefully considered view of the
men who by training and experience
have right to be heard on the sub
ject."
Irving Fisher Dissents.
Among the scores of economists anc
others who replied favorably to Wag-
ner's QUESTIONABLE were the following
Spurgeon Bell, Ohio State University
John B. Canning. Stanford University
w. j. Couper, deputy commissioner oi
labor. Connecticut; Felix Frankfurter
Harvard University; Earl Dean Howard
Northwestern University; Francis B
Sayre. Harvard; Edwin r. A. Seligman
Columbia, and F. w. Taussig, Harvard
E. F. Albertsworth of Northwestern
University replied that "If we are tc
stave off revolution. we must act
promptly and wisely to provide en-
ployment and reviv: industry in gen.
eral"
One Of the few dissenting views wa.
received from irving Fisher of Yale
University, who said the proposal would
take too long tt give the immediate re-
lief which Is NJ eded.