Evening star., 1932-03-13
HOGAN APPLAUDS
| D. C. BANK RECORD
Well Known Attorney Cites
Past in Radio Appeal
Against HOarding.

Praising the record of District of CO.
lumbia banking institutions, which he
said had weathered the storm of the
entire depression without a single fail
ure, Frank J. Hogan, well known attor
ney, in radio address on anti-hoardinp
last night over Station WRC turned his
encomiums toward the national situa-
ton with the declaration that "never
in our country has sounder statesman
ship been in evidence than right now
and never has it shone more brightly
than in this Congress"
Honor is due to the members OF
both parties in both Houses" declared
Hogan. "It Is a pleasure to pay that
tribute and to pay it ungrudgingly
History will record" he predicted
that the session of the Congress of the
United States which began the first
Monday of December, 1881. set an un-
exampled peace time record for unity
of action, lack Of partisanship, disregard
of obstructive tactics and promptness
in enacting vitally important and alto
gether constructive legislation"
Unused TO Praising.
Hogan prefaced his fulsome praise of
the national legislative bodies with a
hint that he was not used to "the role
of pinner of medals on Congressmen,
be they Senators or Representatives. -
II have been outspoken in condemning
freak legislation" he recalled, Med
dlesome Matte activities, browbeating
inquisitors and the intolerable invasion
of individual constitution safeguards
under the thinly yelled guise of inves-
legations for legislative purposes pre-
tense that seldom fools anybody ex-
cept judges. Demagoguery has never
escaped my flaying. And 1 have not re-
formed. Time has not mellowed me
Living in voteless community, am
not voicelesS."
Referring to the record Of recent re-
construction legislation, Hogan said,
with unprecedented speed the Con-
gress has given to the executive branch
Of our Government. to our banking sys-
TEN, to crippled transportation, to de-
pressed industry, to paralyzed agricul-
ture, all the aid reasonably to be ex-
pected Of the national Legislature If
reconstruction of American business
does not go forward now, the American
Congress cannot be blamed.
With equal truth can that state
ment be applied to the President of the
United States and to those departments
of our Government charged with the
performance of functions relating to
commerce, finance, agriculture and
transportation"
Various Steps Reviewed.
Steps toward recovery through recon-
structive measures were traced by the
speaker.
With the establishment, before Con-
gress convened, by the voluntary action
of American bankers, of the $500, ,000,-
900 National Credit Corporation, the
bank situation everywhere perceptibly
improved" said Mr.. Hogan. With the
launching of the Reconstruction FL
nance Corporation, recommended by
the President authorized by the Con-
gress, and headed by Mr.. Eugene Meyer,
and Gen. Dawes, there was removed
any ground whatever for fear, respect
ing the safety of any sound bank as a
depositary for our money. 1t is unthink
able that from now on, in view of the
instrumentalities provided by Congress,
to which 1 have referred, any really
sound bank in this country of ours will
be allowed to fail simply because large
part OF its assets cannot be liquidated
except at a great loss. This being true,
and 1t Is true then entirely apart from
any consideration respecting the patri-
otic duty of all of us, the appeal to put
OuT MONEY DdCk 1llLO CnCuldLlOn Dy Oe-
posting it in sound banks in our own
community, or by investing it in care
fully selected securities, or by buying
with it the new issue of Government
bonds which can be obtained from the
United States directly, or through any
bank, is nothing more and nothing less
than an appeal to your plain common
sense"
Mr. Hogan appealed to his listeners
to consider the fine record Of banks in
this city. Throughout the country"
he said. since the establishment, first
of the National Credit Corporation, and
second of the Federal Reconstruction
Finance Corporation, there has been a
marked drop in bank failures.
Points TO ID. c. Record.
Here in the District Of Columbia we
have had a remarkable record in this
respect, one which eliminates entirely
anv real reason for fearing for the
safety of your money in our banks.
Have you thought Of the fact that
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