Evening star., 1932-07-25

National hopes for adequate relief as
result Of the measure passed in the
\ closing hours of Congress to meet con-
Sitions produced by the depression.
cafry a strong feeling of optimism. The
loails to industry and agriculture, as
welh as to States, are expected to be
ref1eeted In improved conditions of en-
plovmsQt. Much attention, however. is
given tC the last-minute amendment
providing\for publicity of loans through
reports toy Congress, with diversity
of opinion es to its desirability.
"The $2,122O00, 900 relief bill should,
by all tokens, \prove adequate to the
temporary needs Nof the country" says
the Cleveland News (Republlcan). with
the declaration that the puo1clty
clause requiring that Finance Cor
poration loans be made public, tnougn
lnadvised, may not prove OBNOXIOUS.
The Hartford Daily Times (lndepen-
quate direct relief of unemployed, SUI
f1cient to meet stark necessities next
Winter, seems assured; work VIII be
made for many hundreds of thousands,
and the national credit structure has
been already strengthened" The ?resl-
dents forecast of salutary effects S in
dorsed by the Indianapolis News 1rde-
pendent Republican,, with emphasis oa
the belief that the plan sets up "solio
backlog of assurance that there need
be no hunger and cold"
How a nation with an empty Treas
ury can finance such a vast relief pro-
gram" advises the Rockford Register
Republic (Republican), "is explained by
a provision empowering the Recon-
struction Finance Corporation to issue
notes, debentures or bonds-in other
words. to borrow up to 6 3-5 times
capitalization of $50O,OO0, ,O00." That
paper points out that "any project
which Is self-liquidating will be eligi-
BILE for a Federal loan, whether it is
built by Government agency or pri-
vate corporation" and that "the latter
can obtain loans to build bridges, tun-
nels, docks, viaducts, waterways and
canals"
There Is reason to believe" COM
ments the Springfield (Mass) Union
(Republican), that strictly limited Fed
eral aid will have beneficial results
without, however, changing the fact
that the real hope of overcoming the
depression must be in the capacity OF
the Nation itself to initiate its own en-
terprise. Only within narrow limits can
the Government really be help in such
a public process 1t has been some
thing of an achievement to hold Con-
gress to safe limits of actual aid to the
people. A weak President, or one too
easily moved by sentiment, even of his
own party in Congress, might by
acquiescing too easily in many of the
proposals have only served to plunge
the country deeper into the depression.
The Davenport Democrat Oemocratic)
believes that passage of the relief bill
may confidently be set down as an i'm
portant step toward general business re-
covery"
On the subject Of publicity for loans,
the Salt Lake Deseret News Gndepend-
ent) remarks: while it is manifest that
in a situation where fear dominates the
public mind and suspicious have
wrought havoc to banking, secrecy of
operation may be necessary, yet the
public will be sympathetic With the
attempt to make this use Of their
money a matter Of knowledge. Pub
icity is a very cleansing element in
the publicity of loans will be made un-
der the new relief measure, and 1t will
be interesting to observe whether the
harm so much feared will be done"
There Is at least as much reason"
thinks the Newark Evening News inde-