Milford chronicle., 1932-03-04
lent in the history of the country.

dent in the history of the country.
First there was the Unemployment
ERelief Organization, called into be-
ing as long ago as last August in
order that ample time might be Civ
en- to prepare for the demands that
would be made upon it during the
winter. Then there was the Nation
al Credit Association, organized at
the Presidents suggestion, by 'the
National banks of the country in or
der that smaller banks, solvent but
with slow assets, might be carried
through the crisis. Following this
came the proposal to increase the
capital of the Farm Loan banks in
order that they might have funds to
carry farm debtors through another
crop year; the proposal to create a
system of Home Loan Discount
banks; the proposal to develop a
plan to assure early distribution to
depOsitOrs in closed banks; the pro-
posal to create demonstration FL
nance Corporation to furnish neces-
saryicredit to the business structure
throughout the country; the pro-
posal to start nationwide drive
against boarding; and now the pro-
pOsal to broaden the credit base in
Reserve banks, a measure of such
financial promise that the mere an
nOuneement of it was sufficient to
increase the value of shares traded
in ON the New York Exchange $2,-
500, 100000 in a single day.
4 80, . s,r I,ok
tie were bringing up line after line
of shock troops in a succession of
assaults upon the enemy lines.
And already the effects are being.
felt, The Manufacturers Record
purely a business publication, re-
ports the Industrial situation much
improved in many sections of the
country and unemployment waning.
Automobile sales at recent annual
shows in widely scattered parts of
the United States showed an increase
over last year. Henry Ford has an.
nounced plans for bringing out
new "8" and an improved "a" as a,
result of which several Thousand
men are expected to be called back
to the Ford works within few days.
COincident with this announcement
come encouraging reports from 9TH
er automobile manufacturers. The
Hudson Motor Car Co. has returned
to a full eight-hour shift and six
schedule. The Packard
Company reports the largest number
of men on it's payroll in the last
three years. Graham-Paige annOun-
ces the largest force at work since
June, 1890, and an increase I'm the
February schedule necessitated by
advance orders. Chrysler announces
a February schedule calling for 40
per cent more ears than in January.
Chevrolet estimates its February
at $4,000 units. At the |
big hard wood mills January orders |
we're 76 per cent above production,
md the soft wood mills make nearly |
rs good a report. Surely these are |
signs that the business tide is rising.
Another evidence that the business |
morale of the country is being re-
stored under the stimulation of the
great measures the President has !
proposed and which through the CO.
operation of Congress are being rap
dIy put into effect, is the fact that
Turing the past few weeks less and
ess is being heard in the way of
complaint of lack of leadership on
he part of the President And how,
n all fairness, can such complaints
,e made? Conceding to Congress the
ullest measure of credit for the nom
ARTISAN and patriotic attitude it has
it yet remains true that
he measures it has enacted Origi-
Iated in the White House and mot
II the Capitol. The President has
een the leader, and fair-minded men
cannot do less than ac-
it. Whether the program
e has presented accOmplishes its
urpose or nOt-and there is every
that it WILT cannot be
enied that HE HAS A PROGRAM, |
nd that is more than can be said Of
ny other man or group of men. That
) leadership.