Evening star., 1932-01-16
Bill Goes to Conference After
Approval Is Given by Vote
of 355 to S..
DIFFERENCES EXPECTED
TO Be EASILY ADJUSTED
Only Four Out Of More Than Fifty
Amendments Adopted Before
Final Action.
BY the Associated Press.

oS bIlc ASSUCldteQ RreSS.
The reconstruction finance corpora
tlon project bore today a vigorous stamp
of approval from the House of Repre-
sentatives and sped on through the
technicalities which remain to be set
tied before it can become law.
This presidential plan to infuse
$4,000, 100000 worth of new life into
business was approved, 335 to SIS, in the
vote by which the House passed it last
evening, a support which matched the
overwhelming approval already given it
by the Senate
For unexplained reasons, however,
the House failed to act on the same bill
the Senate passed. The Senate passed
Senate bill No. / the House approved
House bill number something else.
The parliamentary requirement Is
that both branches shall approve one
bill, even though amended to read quite
differently. Normally the House would
have taken up the Senate bill, amended
it by cutting out everything under its
title and inserting its own measure.
Now the Senate apparently will have to
go through that process before a con-
ference can be held to adjust the diff
ferences.
Little Difficulty Seen.
After that Senate and House must
approve the revised version and then
the bill will be sent to the White House
for President Hoovers signature
Because of the enormous support in
both branches, credited to the general
principles of the measure, they are not
pysSantaI tn horn 1Ny,ry e++
ment. Each side has expected all along
to relinguish some of its ideas. Just
how many days it will take to get done
with these details, however, was not
exactly determined.
Its big job done, the House recessed
until Monday. The Senate gets the
reconstruction bill passed by the House
in the midst of debate today on the
first Of the appropriation bills. Com
mittee work, meantime, Is proceeding
on other items of the Hoover program
for economic recovery and ON the tax
increase plans.
adopted a declaration for strict re-
trenchment in ederal expenditures for
the next fiscal year. 1t approved
resolution to that effect sponsored by
Senators Harrison Of Mississippi and
Pittman of Nevada. Thirty Republic
ans and 30 Democrats voted for 1t,
while Senator Borah of Idaho joined
eight Democrats in opposition.
The purpose of the Reconstruction
Corporation bill Is to infuse s2,000000,-
900 of credit into business channels by
loans from its vast, Government-sup-
ported funds, to banks and other flnan-
cial instituations, which, in turn, are
to pass the money on to industry, agr1-
culture and commerce.
Debate Is Prolonged.
Forty-three Democrats and IL Re-
publicans voted against the measure
in the House. During the prolonged
debate this group assailed the proposal
as one that would relieve big business
corporations and impose additional
burdens on the taxpayers.
More than so amendments were Of
fered, but only four of any Importance
were accepted. An amendment by
Chairman Jones of the Agriculture
Committee, alloting $780, 100000 of the
total capitalization to agriculture
through intermediate credit banks, ag-
ricultural credit and live stock credit
corporations and agricultural associa-
tions, was approved.
Two amendments by Representative
Rayburn Democrat, of Texas were ac-
cepted unanimously. One would pro-
hibit the payment of any fee or COM
mission by any applicant for a loan to
any representative or attorney, and the
other would impose heavy penalties for
violations of that section.
An amendment by Chairman Stea-
gall of the House Banking Committee
that drafted the bill, eliminating a
provision that Speaker Garner and
President Hoover each appoint two
members to the board of directors OF
seven, was approved. AS passed, tho
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