The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-26
While Men Ask Work

Six weeks ago congress left Washington confident
that 1t had provided almost immediate employment
for vast number of men, In addition to 900 600
for direct relief loans to states the relief act passed
early in July made available $15OOOOOOOO for con-
struction loans.
This was the backbone of the act the one proposal
about which there was disagreement from the
time the first relief bill drafted May until the
Presidents signature finally was attached
Today none of this construction work has been
started. Not has been given work Not loan
has been made from this 81 500 100000 fund
The Reconstruction Finance Corporation admits it
doesn't know when any loans will be made The
summer, when construction work can be done best,
is drawing to a close.
When the relief bill was pending in congress. men
of every party and every shade of thought were
agreed that the government should provide means
OF putting men to work. The administration argued
that public works appropriations would not do this,
that delays in drawing plans and obtaining sites
would be serious and that at best public works
program of $260O0O00O could not give employment
to more than $4,000 men.
AS an alternative it was argued and agreed that
loans to states, to cities, to housing corporations to
private corporations for self-hquidating projects
would provide more work and provide it faster
Now the Reconstruction Finance Corporation is
ueSlldIIS OfeI WI6J constitutes Se-llQlQat1ng
ects. 1t suggests that action may be postponed in
definitely majority of applications made, until
specified proof be offered that the projects will pay
for themselves in a specified time.
In the last week of August it still looks forward
to issuance of application blanks for projects of this
sort the initial step in the machinery for putting men
to work. 1t hopes" that few projects can be
started soon.
1t was obvious in May that relief bill with pro-
vision for loans selfquidaring projects was 60
ing to pass some time before congress adjourned and
all necessary machinery could have been set up then
but it is too late now to mourn past omissions
The important thing at present is to formulate an
intelligent policy quickly in regard to making these
loans In this respect it is obvious that no absolute
y final, legal proof be offered of the ability of
any project to pay for itself
Removal of an industrial plant might impair the
earning capacity Of any railroad and an earthquake
might wreck the most proht-promising bridge or
tunnel
Neither congress nor any one else expected that the
Reconstruction Finance Corporation would be care
less with government money. 1t and is proposed
that reasonable be exercised to make sure funds
will be repaid
At the same time, the urgent purpose of the re-
lief act will be defeated entirely loans not made
and work gotten under way quickly. Cities, states
and counties at least are sound loan risks.
If slum clearance project should fail to repay
its entire cost in ten years, it would have than
made up for continuing interest charges in its value
to the community.
1t is not next fall next spring. next year, that
need jobs 1t is now Building industries at their low
est ebb need to be stimulated by orders for
terials.
The corporation should emerge from its haze of
lndecIsion and act.