Evening star., 1932-10-16

CDat virtually every SGdJe Legislature c
will take quick action where needed
enabling these institutions to come in
under the system. A technicality of
greater moment to the average home
owner is that savings banks in most
States are limited to mortgages not ex-
ceeding half the value of the property.
With building and loan associations
thawed out again. person needing to
increase the mortgage to higher per-
centage of the property value will have
a chance to do so by getting the build
ing and loan company to take 1t over
from the savings bank And the cheer
ing thing about all is that this Fed
eral Reserve System for Home Owners"
as 1t might be called. is limited to bene-
fitting the owners of homes valued at
not more than $4,000. 1t Is to help
the man on the street avoid finding
himself sitting on the curb.
Increasing Job Opportunity
pie is cut six ways instead of four the
portions are smaller but two more per-
sons can be served. Similarly, when
400 full portion" jobs in factory are
'cut smaller" SO as to make 600. 1t
means bread and butter for 200 addi-
tional workers
Such is the share the work plan or
movement, as it is called, to give 1t the
popular impetus it deserves. OF all
plans, schemes and suggestions for
coping with the unemployment prob
lem, it is the most practical. Recogniz-
ing the fact that employers can't
reasonably be expected to pad their pay
rolls by taking on people for more work
than there is in the shop, this move
ment confines itself realistically to the
work there Is" making the same pay
roll maintain more workers and their
families.
Assures Security of Jobs.
But isn't this. some one might ask.
case of robbing Peter to pay Paul?
Well not exactly Peter works fewer
hours and draws less pay than he would
on full time. but he has far greater as
surance of holding his job, because he
knows that the policy Of the concern
Is not to drop employees, but to spread
the work. And the feeling that you
aren't going to be let out is whole
lot
Furthermore, Peters prospects OF
continued employment are enhanced by
the fact that, as the share-the-work
movement becomes more widespread, !,
thousands of Pauls throughout the
country become consumers again. So
actually Though neither of them may
realize it, Paul is working to pay Peter
for sharing with him!
However, like most emergency meas
ures, this plan is a way out rather
than an ideally happy solution. Bread
winners sometimes carry dispropor-
| tionate burdens in this world, and the
pairing down of earnings may cause
undue hardships in certain cases. In
re
creates Jobs and diminisheS the ranks
of the unemployed, thereby lessons the
number of persons Temporarily de-
pendent upon relatives and friends"
The fact is the share-the- work prin-
| ciple has won its way as the only logi-
cal recourse. After being thoroughly
tried out in many organizations, both
large and small, it was officially launched
as q movement at White House con-
ference in August, and thereafter in
dorsed by the American Federation o1
Labor and the American Legion.
Industrial Loans Easier.
Industrial Loans.-What the share.
the-work movement, with no capital, Il
undertaking to do at the bottom, the
Reconstruction Finance Corporation
with potential resources of $4,000, ,000,-
UVU, Ii QOlng AT UQe Top. 0y IHdAiIle
loans to industrial concerns, banks anc
railroads Tin the latter case only with
the approval of the Interstate Commerce
Commission), 1t has already prevented
numerous receiverships that seemed t.
be impending But for the aid Of Thu
specially created colossus many banks
now breathing easily, would have CLOSED
their doors, and certain agriculture
and live stock credit corporations woult
be in bad shape, to put 1t mildly. And
thanks to the work of the r. F. c.. vas
blocks of investments held by insurance
companies-railroad bonds, for Instance
have o different standing in the mar
ket from what they had q while back.
| To the average person who finds any
thing up in the billions q bit over hi
head the r. F. G. may be convenient!
thou6ht Of as the Anti General Collaps'
Corporation biggest thing OF the kins
since the war.
Naturally, anything 50 large wouls
come In for criticism, but the dissatis
faction felt Is chiefly on the score tina
the r. r. G. isn't Santa Claus. I