Nogales international., 1932-08-24

GQ ENTHUSIASTICALLY WAACAA 0AAN
gresham declared that "just as
more than year ago, I pledged
myself to use every human effort
to obtain tariff en- copper, I now
renew that pledge by assuring you
that I will exert every ounce of
energy to have copper placed on |
the permanent tariff list and the
rate increased when congress next
takes up a general revision of the
tariff"
There is also the second cate
CORY of legislation which affects
Arizona because it affects all of its
other sister states" he said. "This
comprises the legislation of nation
al character which was enacted as
part Of the fundamental objective
of congress: to restore confidence,
revive industry and put men and
women back to work
And in this group was the han
, ding Of that problem which con-
gress faced when it opened its ses-
sion with the credit of the govern
mert hanging in the balance. The
cost Of the government had in
creased more than a billion dollars
in a decade.
1.-The evidence that this situation
was shaking the confidence in the
government was shown with our
own nationals boarding money, with
government bonds dropping well be-
low par, with our own nationals
and foreigners selling dollars and
converting them into gold. Gold
was flowing out of the country. It
became evident then that the credit
Of or country must be maintained
as the foundation to any industrial
recovery.
whenever the credit of govern
. nent collapses it has been Demon
: st1ated in the history Of all coun-
tries in the past few decades that
: the industrial and economic struc-
: ture CT the nation itself tumbles.
} "It was up to someone to have the
courage to start a movement for
economy. I initiated that move
nent and I make no, apology fol
having done Sc. It had to be done
: No ration can continue to stanc
the heavy burden Of high taxation
which increasing costs Of govern
n,er,N has made necessary. The
economy bill as finally passed wa!
not altogether what I would have
desired. I am in favor of going
into every bureau and department
of government and wedding out ev
'' crv bit Of waste and extravaganza
BUT at any rate the movement ha
been Gtarted and I propose to con
:, tirue the fight until our govern
nent stands on a firm foundation
OF economy"
v In discussing the revenue bill, MI
K Douglas called attention that where
= as it is In many respects nltisanc
tax, it's main value was that it wa
an expression of the sentiment tha
tho credit of the nation must b
maintained. "It is a good thin
e that we have to pay these 1euera
1. taxes direct as it makes us real1z
r, the part waaleh federal taxaf1n
Il plays in our welfare. In the pas
If We have failed to realize this be
lioving that only big concerns /
the east have to bother about fec
eral taxes" he said.
~ The necessity Of the reccnstruc
\ tion finance corporation ana II
q nlaae inc the fundamental CbJcC
7 tive Of restoring confidence and re
viying industry so that men an
women could obtain employmer
wss next taken up by Mr.. Dougla
d He called attention to now banF
y were failing and depositors wei
Il losing money because OF lack
4 confidence.
2 was congress to stand idly
( and see $50 0oO,0Ooooo of deposit
{ tho savings of lifetime, wipe
away? 1 and other members OF COZ
gress, both Democrats and Repuoi
cans, said NO, that this Sltuatle
must be stopped. So we passed u
reconstruction finance act TO r
tard the wave Of fear and preVe
y the loss of these deposits" He e
NJ claimed the method Of orgsnlzl
the corporation which was autno
4 <vx1... rf7o Dove. 'T1hrQp)