Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-03-03
DRIVE ON BOARDING
DIRECTS APPEAL TO
common SENSE"
Chairman NeWboId Noyes
Outlines Campaigns Aims
in District Area.
NATIONAL MOVEMENT
TO START SUNDAY NIGHT
Assurances of Complete Co-opera.
ton Are Received From Wash
ington Agencies.

The effort of the anti-hoarding cam
pa1gn here will take the form of IAN
appeal to common sense and reason"
TO put idle money to work as an aid
10 the economic recovery of the coun-
try.
This statement was made last night
by Newbold Noyes, chairman, District
OF Columbia area, President Hoover's
Citizens Reconstruction Organization,
In which it was stated that $112,000,000
in currency had been returned to cir
culation since the announcement by the
President on February S. of the Ma
tion-wide campaign against boarding.
Statisticians' Estimates.
The estimates, of the release of
boarded currency were made by Stats
ticians of the Federal Reserve System,
whose reports show that after allowing
for seasonal variations the amount OF
currency that went into boarding the
week ending January was S3l ,OOO, 900;
for the week ending January 9, $l33,-
1000: for the week ending January
16, $84,000,000; for the week ending
January %, $31 100000; for the week
ending January 80, $17000000; for the
week ending February 6, $4,000 00-a
total for those six weeks OF $3l6, DOC, 900.
Lie fICSluSllUS Oll6Ildl announce
ment of campaign to be undertaken
against boarding came on February 5
and the announcement of the organi-
cation was made on the day following.
For the week ending February Is, Fed
eral Reserve reports show return OF
S32, 900, 900 to circulation; for the week
ending February 20, a return OF S14,-
900 900 to circulation; for the week end
ing February 81, return of $4,000, 900
to circulation-or total for the three
weeks since the preliminary campaign
began of S112,000,000 in currency re-
turned to circulation.
The figures were cited, Mr.. Noyes
said, as indication of what are believed
to be the possibilities Of the national
anti hoarding campaign that will begin
Sunday night with the radio speeches
by President Hoover, Col. Frank Knox
of Chicago chairman OF the Citizens
Reconstruction Organization; Secretary
of the Treasury ogden L. Mills and
Senator Robinson, Democrat, of Arkan-
sas. and a message from former Presl-
dent Coolidge to be read by Charles G.
Dawes, president of the Reconstruction
Finance Corporation.
Agencies Cooperate.
Plans are rapidly taking shape, Mr..
Moves said, for Washington's participa-
ton in the national campaign. Assur-
ances of full cooperation have been re-
ceived already from Washington's radio
stations and moving picture theaters,
and the mails are carrying letters ask
ing some $50 prominent members of the
community to serve as members OF a
central committee that will direct the
local campaign.
In the campaign here, Mr.. Noyes said,
emphasis will be laid on the principle
that there can be no permanent eXpan-
sion of credit-with resultant employ
ment-until boarded money in excess OF
a billion and half dollars Is orougnt
back into circulation. Putting money
into circulation means spending II, oe-
posting it in sound banks or investing
+ in sound securities, said Mr. Noyes.