The Waterbury Democrat., 1932-07-18
Hoover Ready to
 Sign the Bill
tcontinued from Page 1.)

Ss95,000,000 in the nations cur rency. The administration opposed this feature, but MT Hoover will sign the bill nevertheless. He has asked Comptroller of the Currency Pole for an opinion on the bill and is expected to use this as a basis for a statement minimizing the ef- fects of the currency authorization. The presidents statement on the unemployment relief program was issued through the White House while MT Hoover rested at his Rapidan camp. He motored there Sunday morning.
 Summed up the benefits of the relief bill are as follows:
 stFirst-Through provision Of $500, 100000 of temporary loans by the reconstruction corporation to such states as are absolutely un- able to finance the relief of dis tress, we have a solid back log of assurance that there need be no hunger and cold in the United states. These loans are to be based upon absolute need and evidence of financial exhaustion.
 "Second-Through the provision for $1,500,000,00 of loans for the reconstruction corporation for re- productive construction work of public character on terms which will be repaid we should ultimately be able to find employment for hundreds of thousands of people without drain on the taxpayer.
 'Third--Through the broadening of the powers of the corporation In the character of the loans 1t can make to assist agriculture, we should materially improve the po- sition of the farmers"
 Minority Leader Robinson of the senate said the democrats had CO., operated fully but their task has been difficult because of Hack of leadership" at the White House. He said the great relief bill ''bears the imprint of democratic author ship on every page"
 Democratic Leader Rainey of the house issued similar statement.
 While most members of con- gress are going home at once to plunge into the campaign, many of them will be busy with official in- vestigations. The senate agricul- ture committee will begin study of the farm broad's questioning to- morrow. Other matters to be in- vestigated before congress convenes again in December include the St Lawrence waterway. loans by the reconstruction corporation, the stock market, veterans compensa- tiOn. post Ofiice leases, taxation and government competition with pri- vate business.
 What Congress Did
 Washington, July 18-(UP)- Major accomplishments of the 72d congress In the long session that began last December and ended Saturday night:
 l. Passed the $i,l1s.so 900 tax bill imposing drastic "nuis- ance" taxes and higher income taxes in an effort to balance the national budget.
 ?. Passed the s2,l22, ,eoo, ,000' unemployment relief bill, designed to create work for the jobless and aiding states carrying the relief burden.
 :. Ratified the Hoover morator- iurn on foreign war debts.
 {. Established the reconstruc- ton finance corporation to bolster railroads and banks.
 5. Broadened discount privil-i eges of the federal reserve banks, and of the intermediate credit banks.
 c. Cut federal expenditures by approximately $tbO. 100000 by rec ducing departmental appropria- tons and passed the, s16. 1000, 900 omnibus economy hill.
 [. Passed the home loan bank bill setting ID . system of federal aid banks to help small hons own- CTS. ..
 q Approved M the. the cla.s Ia. sl! plan for s national banks could issue t0o5,- 100000 currency backed by federal bends.
 .. Passed the Norris "Iams duck'' amondmsnt 10 the eonsll-