Evening star., 1932-01-22
Everybody's
Business
Constructive Move Is Seen
In agreement on Recon-
struction Finance Cor
poratlon.
BY DIR. MAX WINKLER.

Special Dispatch to The Star.
NEW YORK, January % - Agree
ment on the reconstruction finance
corporation bill by both houses in re-
garded as constructive.
Although the bonds which the enter
prise will float will not be subject to
rediscount by the corporation, the
Treasury will be authorized to buy
them. Funds are expected to be de-
rived from the sale of Liberty bonds.
OF the first Offering, as much as $780,
600 900 will be available for aid to
closed banking institutions and $3.50
600 900 for agriculture. Provision Is
also made for temporary financing for
railroads and aid for carriers in re-
cetvership, as we'll as for assistance to
foreign commerce.
In short, the new enterprise will be
authorized to help any bank, saving
bank, trust company, mortgage loan
company. credit union, Federal land
bank. Joint land bank and the Federal
intermediate Credit Corporation The
original wording to the effect that the
corporation will be authorized to aid
any bona fde financial institution in
| the United States was deleted.
Life Insurance Day.
Among the various days in the year
observed for one thing or another Lie
| Insurance day occupies prominent
place. 1t was observed yesterday
| throughout the Nation as part Of Ma
| tional Thrift week.
| It's sponsors availed themselves OF
the opportunity to bring home 70 the
public that, as an incentive to THRIFT
! or as an investment, life insurance has
no superior. 1t is an ideal method OF
| creating an immediate estate enabllng
the beneficiaries thereof to discharge
| the financial as well as social obuga-
| tions of the insured.
That the advantages Of life lnsur-
ance are fully appreciated mB be EVIL
denced from the marked Increase in
! the amount of life insurance in force
which, at the beginning OF me current
year. stood at close to $l09O00,OOo,ooo,
| equivalent to about 1915 foT each man,
woman and child living In the United
States.
| Debtor Nations Difficulties.
Difficulties encountered by debtor
| nations in meeting their obllgatlonS
! are attributed to the maldlStrloutlon
or uneven division Of gold, ACCORDING 10
Sir Henry Thornton, president OF the
Canadian Railways. Sir Henry calls
| attention to the fact that the UNITED
States, the largest creditor nation, Is
protected by high tariff which pre-,
vents the payment OF oolgatlonS OF
other countries in goods, ana compeS
| their repayment in gold, OF Whlch
there simply is not enough in the
world
The total debt of nations Is conser-
vatively estimated at $150,000, 10000,
or almost IS tines the available supply
of the yellow metal. Perhaps Able
Terray one time French finance min
lister, was right when he suggested
! that nations should default at least
once every hundred years.
S.rawn's Prediction.
With The coming of Spring, the sun
will begin again to shine, somewhat
oimly at frst, but with increasing vigor,
| through the overhanging gloomy clouds,
, according to Silas Strawn, head OF the
| United States Chamber Of Commerce.
| Althoush he admits the impossibility
! of predicting accurately when the acute
economic troubles will be over, he be-
lieves that the American Nation is now
standing firmly on the ground and is
thinking about governmental and per-
sonal affairs more intensively and con-
! tructively.
! Repara tions Problem.
News from abroad is more complex
than alarming.
The Lausanne Conference, scheduled
for January 25, will not be held. Hope
is entertained in certain quarters that
a satisfactory agreement may be reach
ed regarding the procedure to be adopt
ed in the course of few days.
Germanys intlmation that further
extension of payments or new mora :
toria will not be acceptable and that
complete settlement of the reparations
problem should be effected before July
| need not necessarily cause appre-
! hension. The entire war debt question
has been dragging on for nearly dec
ade and a half and one OF the most
constructive steps will have been taken
If a permanent solution is found. Ihls
| ,,houid take place within the neyt lew
months.
Although the extent of German COM
mitmentS on the part OF the irving
Trust Co. is somewhat in excess CT Wnat
| was generally believed, the amount Is
insignificant when compared with the
total resources of the institution. The
latters' short term credits in Germany
aggregated at the beginning OF the
year SOS, 900 900, equivalent to about 40
ner cent of all resources as of Decein-
Der 81, 1881.
American Capital Needed.
Latin American countries need Amer
ican capital as much as American IN
dustries need Latin Americas raw ma
terials and special agricultural prod,
ucts, according to DR.. Jose Manuel
Puig Casauranc, Mexican Ambassador
to the United States. DR.. Pulg feels
that once relations of the two Americas
are built upon the foundations Of sim
cere reciprocity, the greatness OF the
hemisphere will have been achieved.
uCopyright. 1892. by the North American
Newspaper Alliance. Inc
uEPN00M RANK Fl Ec1S