The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-07-12
MEASURE INTENDED
TO MEET IDEAS OF
PRESIDENT HOOVER
Little Change by Committee in
Terms of Enactment Pro.
posed by Wagner
CHANGES FINANCE BODY
Directorate of Reconstruction
Finance Corporation to
Be Revised

washington, July 12-(R-The
new Wagner unemployment relief bill
was approved Tuesday by the senate
banking committee and prepared for
consideration in the senate Tuesday
afternoon.
In the house, meanwhile, prepara-
tons went ahead also for drafting
a measure along lines wanted by the
administration.
The senate committee made viz
tually no change in the bill which
was introduced in the senate late
Monday by Senator Wagner Dem..
N. " to replace the $2.122, 1000 900
bill vetoed by President Hoover.
1t voted an amendment, however.
to reorganize the reconstruction COR
poration in accordance with the pres
ident's recommendation in a special
message to congress Monday, increas-
ing the membership of the board by
one.
Another amendment was voted by
the committee to prevent loans by
the corporation to financial institu-
tions. the officers of which have been
members of the corporations board
within a year.
Provides Individual Loans
Included in the new bill approved
by the committee is authorization for
loans to individuals through federal
reserve banks when the federal re-
serve board approves
The committee retained in the bill
the same restrictions on the $780,
100000 public works program that
were in the old bill.
President Hoover in his veto mes
sage said they were not adequate.
The amendment for recognizing
the corporation would eliminate as
members Eugene Meyer. governor of
the federal reserve board. and Paul
Bestor. farm loan commissioner, as
members of the board
Unanimous approval was given to
the amendment except that Senator
Glass Dem. Va. objected to in
creasing the boards size.
The relief bill as it now stands.
ready for senate consideration, still
carries a total relief program Of ST.
100000.
The only major change from the
Dill which the president vetoed, is
substitution of the provision for in
dlvidual loans through federal re-
serve board for loans through the
reconstruction corporation.
The Senate has given unanimous
consent to take the bill UP as soon
as it has disposed of the pending
home loan discount bill, expected
sometime Tuesday.
Veto Message Sharp
The white house veto message
which stopped short the old bill Mon
day criticized as violating every
sound principle of public finance and
government" Speaker Carriers plan
for loans to individuals from the re-
construction finance corporation.
Thus was made campaign issue Of
unusual potentialities.
Democrats accepted the presiden-
tlal attitude without vote in either
house to override his veto. They
sought Tuesday to put through a
scheme under which federal reserve .
banks could lend to private indiN-
duals in need if the federal reserve
board approved. Some Republicans
supported this plan, too.
Eliminates One item
The new bill includes everything in
the vetoed proposal save the loans
to 1ndividuals-even to the $322. 000,-
900 for public works Its total re-
mains $2,122, 100000. It allows an ad-
dition of 81 300 1000 900 to the $780,
100000 already available to the re-
construction corporation, including
$500 000 900 for loans to states.
Leaders of both parties in senate
and house worked to pass a new
measure quickly. Senator Wagner
made the necessary parliamentary
maneuvers for action in his branch
while house majority leaders in
dicated they would 60 along.
Second Vote Denied
When the house received this mes
sage. about an hour after congress
sional action had been completed, Re-
publicans tried for vote on the veto.
Democrats conceded they did not
have the necessary two-thirds mai
GRITTY and successfully blocked the
WV W oCA104A1S Vic LlSSSdSC W COUl-
mittee.
Hoover Immediately followed up
with another message asking that the
reconstruction corporations director
ate be increased from seven to eight
and that the federal reserve board
governor and the farm loan commits
sioner be relieved Of duties as ex-
officio members. He pointed out the
directors work was extraordinary"
and that there els danger Of q ply
steal breakdown among the ex-officio
members in their endeavor to carry
dual duties"
With relief nearer conclusion. lead
ers on both sides of the capitol agreed
to make a strenuous effort to i'd
1ourn Thursday-or Saturday Of The
latest. There already were about 12o
absentees in the house and 20 In the
senate. home campaigning.
pnCTpnNrvs rNynYyrnv