The Washington times., 1932-05-31
GARNER SCORES
'AFFRONTERY'
Of HOOVER


amount, Judging by the price
and interest rate on the last
Treasury bill sold, would not
amount to S2,5OO,OOO.
sNThis is a sound business
policy. 1t has been done IN
every State, every county, and
every city in the country.
consider it the weakness Of the
Senate relief proposals that no
provision is made such as this
gasoline tax. without that l
would be unwilling to support
this program"
DISCLAIMS CREDIT
The Speaker said he hoped he
represented the entire people OF
the United States. He explained
no provision of his bill was
original with him with the excep.
tion of broadening the base OF
the Reconstruction Finance Cor,
poration. The $100,0OO,OOO tuno
for direct relief is the Huddleston
bill intact, he said, while the
public buildings program autnor'
ship is that of Representative
Crisp, of Georgia.
The rivers and harbors PROV.
sion. Garner said, was inspired
by Senator Shipstead (F.L0, OF
Minnesota, and Representative
Mansfield, of Texas, chairman OF
the Rivers and Harbors Commit
tee.
The Speaker declared:
"It is safe to say that 1t Is
known by all men, especially
by members of Congress, that
we face state of affairs
where men and women are Sut'
fering for want of food. Ad.
mitting this deStitutiOn, isn't it
the duty of Congress to pass
LEGISLATION for its relief? Can
any of you go back home, ad'
mitting the people are starving.
and say there is no way that
Congress can act to help this
situation, or if there is a way,
that Congress failed to act?
Somehow, somewhere, the
means must be found to ex-
tend relief"
He gave the Reconstruction FL
nance Corporation generous
credit for it's wonderful service
to the country" He said it was
keeping banks solvent that other
wise would close.
Hints Bank Greed
He added:
"When we created this body,
we hoped it would provide addi-
tiOnal employment for labor,
but an analysis is diSappOint-
ing. have undertaken to
broaden its base and extend
the power of its seven directors
to grant loans to productive
corporations.
"NOw the big fellows, banks,
railroads and insurance COM
panieS get most Of the benetltS
from the corporation. / would
extend its operations so that
any individual or corporate in
tereSt, any city, county or
State, if able to give adequate
security, may be granted loans
to put labor to work.
eff you are unwilling to do
this then you should admit you
made a mistake in creating the
Reconstruction Finance COrpOr-
alton and repeal the organic
act.
II cannot conceive of any
one Objecting to taking the
bride off the r. F. G. I can.
not conceive of any objection
to this except from the class
now benefiting mOSt-the big
banking interests"
Urges Caution
Garner said he knew of in
stances where loans were made
to banks with the understanding
that they in turn would extend
loans of their customers. But the
banks did not make good"
He observed:
eff the credit of the PennSyI-
vania railroad is so bad that it
has to come to the r. F. C. to
borrow S27 100000 surely indi-
vidualS have a great need for
this same credit. There should
be only two controlling factors
the use to which the money
would be put and the security
for it. If it is intended to put
labor to work and the security
is adequat3, then loans ought
to be made to anyone applying"
Garner made it plain that river
and harbor improvement is an es
tablished policy of the Govern
ment, approved by every admins
tration for the last 40 years. He
said he would not seek to author
ize expenditure of a single dollar
that was not based on good policy
and would not waste a copper CEN
promoting any building projec