Evening star., 1932-10-05
GARNER ASSA|LS
HOOVER PROMISES
Sincerity or Ability Lacking,
Says Texan, Commenting
on Iowa Address.
BY the Associated Press.


In reply to President Hoover's Iowa
address, Speaker Garner in formaI
statement today said IF we judge the
promises he now makes in the light OF
those he has made and failed to full
fill, either his sincerity or his ability
to make good his latest pledges is seri-
ously open to question"
The text of the Democratic vice
presidential nominee follows:
President Hoover's statement to the
effect that he is using his good Offices
to prevail upon the land mortgage
companies and other financial institu-
tions to which the Government has
loaned hundreds of millions not to
foreclose upon homes and farms is in
dicative of the Inconsistency that has
characterized his entire administra-
ton.
The President vetoed the measure
that would have assured farmers the
credit necessary to prevent foreclosure
He asserted at that time that 1t would
make the Government a pawnbroker
and insisted that loans be extended
only to select clientele. After ex-
tending the loans he states that he
is now endeavoring to induce those
who have secured the millions OF Gov
ernment credit to be lenient with the
farmers and home owners whose mort
cages they hold.
Credit to Select Few"
II am not criticizing the loans tc
gage companies and other f1rancia
ORGANIZATIONS but it must be obvious
that extension Of credit to select few
only cannot bring to this country the
maximum benefits that should accrue
from the release Of this great volume Of
credit
THE farmers and the home owners
who have acceptable collateral are az
much entitled to that credit as any cor.
poration or company with equally &C.
ceptable collateral The theory that
Government credit should be extended
to a select few and that the Govern
ment should then supplicate the bene-
ficiaries of this credit to be lenient with
those whose mortgages they hold il
contrary to al precepts Ct business Of
common sense.
President Hoover is again denounc.
ing what he termed pork barrel legis.
lation enacted by the Democratic
House, but is taking credit to hln:sel.
for all public construction new being
initiated.
He states that the Democratic Ill
was for productive and unneces.
sary works but there was not a rnajol
item in that bill that had not been rec.
commended by the administration.
He recently boasted that public con-
struction was being initiated under th'
terms of the Reconstruction Finance
Corporation act. out Goes not mentor
the fact that this provision of the bill
was included despite opposition Of thu
administration and administration
leaders
Disputes Tariff Bill Time.
I'm the course Of his Des Nome
speech President Hoover said: 'Th'
facts are that the (Hawley-Smoot
tariff act was not passed until nearl.
cne year after the depression began
mfr. Hoover approved the Hawley
Smoot tariff act on June IT, 1890, ye
in the previous March he was still as
suring a Nation that prosperity wa
just around the corner and the turn
already in sight The fact is that tn,
real depression found its inception from
the moment Mr.. Hoover affixed his sig
nature to the indefensible bill
Hardly had the ink dried on tn
Presidents signature Of approval be
fore more than 40 of our customer ma
tons prepared to strike back at Amer
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