Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1932-02-04
By F. o

program Ter ~invigorating business 10
be actually written into a statute was
the Reconstruction Finance Corpor-
a1lon act. which received the Presi-
dents Signature On January %. Up
on signing the bill the President gave
out a statement, in the course of
which he said.
The purpose Of the bill is 10
stop deflatlon IN agriculture and
industry and thus to increase
employment by the restoration
OF me to their mrmz4I jobs. 1t
Is not created for the aid of big
industries or big banks Such in
stItutions are amply able to take
care of themselves. 1t is created
for the support of the smaller
banks and financial institutions,
and through rendering their re-
sources liquid to give renewed
support to business, industry and
agriculture 1t should give OPP
portunity to mobilize the gigan-
tic strength of our country for
recovery
In order that no time might be lost
IN putting the measure into effect the
President sent a special message to
congress as soon As it was announced
that the bill had passed both Houses,
asking that the appropriation of 500
million dollars called for by the mea-
sure should be promptly passed This
recommendation will doubtless be fol
lowed. and within a very few DAYS
IT Is believed the measure will begin
to funtion- just what the practical
results of its operations will be can
rot be KNOWN Of course, except thru
experience The fact however that
the plan met with the nearly mani
nous approval of Congress, that it
has the endorsement of all leading
economists of the country and has
been endorsed also by the United
States Chamber Of Commerce certain
" lends ground for hope that great
The second important item of the
Presidents Reconstruction Program
TO be actually written into q statute
was the measure providing lbs mil
hon dollars of additional c~apitaliza-
ton for the Federal land banks, thus
increasing the credit Of the farmer
and doubtless preventing innumerahe
foreclosures At this writing the
DILL Is I'D the hands Of Treasury ex-
perts for examination As to It's adj
m~nistrafive features, but their APP
prevail and the Presidents signature
sum carried by the bill Is million
dollars = specifically ear-marked to
enable the banks to postpone the
mortgage ~t1llment payment OF
nard pressed farmer borrowers.
Inc bull IS intended As an agricultur-
III sunplemtm to the Reconstruction
q Corporation
Another evidence OF President
Hoover's ,unremittfng interest in the
workers and his insistence that WAGES
shall be maintained wherever no.s-
sible is found in an Executive Order
recently issued gtipgIatinp thaf IN
all public building contracts ,herx
the prevailing wage schedule h,l III 10
paid by the contractor. with : Glance
permitting cancellation of the con-
tracts for government work on river
ievees and flood control projects ~
well as on all public buildings.
$3.50
The first vote in Congress an anv
phase of the liouor Question uraS t.L
in the Senate the other dav ~har
the Senate was called "a nass unor
a resolution introduced nv Senator
bingham of Connecticut. asking the
of the several states r. a.
commend to the legislatures "a tbs;~
respective states that sueh action h.
taken as NAV he ns-.xSaYv - ah.~;n
the opinion Of the ntorle w;th =
ssrer4 to the renazl ~ roxEfz--on
nj tAa vcIr+onJ - -.