Evening star., 1932-09-06

mant. will once more take flight and
disappear.
Again I must declare the relief and
construction act Is no ordinary measure
to be administered with the proverbisl
bureaucratic sluggishness. 1t is a life
saving apparatus in which speed Is
nine-tenths of the remedy.
Let no one harbor the misconception
that the relief and construction act Is
designed for the sole benefit of the
wage Garner. The same act authorizes
the Reconstruction Finance Corporation
to establish regional credit corporations
to make loans directly to the farmers.
That enterprise is now going forward.
THE same act authorized the Federal
Reserve Banks. with the approval of the
Federal Reserve Board. to make direct
loans and discounts to business men
who establish that they cannot secure
funds from the local banks. The ap-
proval of the Federal Reserve Board has
been given and the Federal Reserve
Banks are today ready to supplement
local banking facilities with the tre-
mendouS credit resources OF the Federal
Reserve System.
Veteran Not Overlooked.
"The special claim of the veteran
has not been overlooked. BY distinct
provision the veteran Is entitled to a
preference for employment upon any
project prosecuted under the relief and
construction act.
1T is not my purpose tonight to de-
scribe the general provisions Of the act.
That I have already done IN a previous
broadcast in the National Radio Forum
I do want to emphasize. however, two
special features because they are of
SiOnifinQnrn
THE first of these Is the provision
which establishes the 30-hour week
upon all projects which are financed
out OF the funds provided by the re-
lief and construction act. The 1mme-
Giate effect of that Is, of course, to in
crease by 60 per cent the number of
jobs that the act will make available.
But that is not all. Indirectly We shall
be conducting a tremendous experiment
to demonstrate the feasibility of the
shorter working week in all industry.
The growing productivity of labor makes
it indispensable. I believe that the
shorter work week shall become general
in the United States. not only as an
emergency work-sharing arrangement
but as a permanent policy.
THE second feature to which I want
to call particular attention is the sec
tion of the law which permits the
financing of projects for the eradica-
ton of slums and the construction of
housing for families of low income.
That section of the law holds out hope
and opportunity for every city in the
United States that desires to redeem
its blighted areas and to replace them
with modern housing at rentals low
enough to be within the reach Of wage
earners.
Not every housing project is eligible
for a loan from the Reconstruction
project must be subjected to State or
municipal regulation and must be in
tended for families of low income before
it may borrow Federal funds under the
relief and construction act.
Urges Consideration.
II earnestly urge the State and
municipal authorities and civic bodies
throughout the United States to give
careful consideration to that provision
of the law, for it affords a real oppor-
tunity for municipal betterment which
will not only give immediate employ
ment in the present emergency, but
will be a permanent benefit to their
communities.
New York City is taking advantage
OF the housing provision and approxi-
mately 100000 900 of construction Is
already in sight.
I'm order to benefit from the housing
section of the relief and construction
act it is not at all necessary for the
States and municipalities to 60 into the
housing business or the construction
business. The eligible housing corpora
tions are purely private enterprises,
subject, however, to State or municipal
regulation to make certain that they
are carrying out the purposes of their
creation, namely, the construction of
adequate housing for families of low
income.
II know of no better way to open the
doors of employment to the millions of
Americans who have been vainly search
ing for jobs, to stimulate the revival
of trade and industry and enlarge the
market for the products of the farm.
than through the prompt launching Of
the program of construction contem-
plated by the relief and construction
act.
ITO large extent, therefore. the de-
velopments Of the next six months de-
pend upon the vigor and resourceful-
ness with which that program Is
brought into action.
"As We look beyond the immediate
future We cannot help but realize that
the fundamental economic problem will
not have been solved when we shall
have emerged out Of the present de-
precision. We shall still be exposed to
the very same forces which threw us
into the present abyss and which will
repeat their inhuman performance un-
less we curb them. To do that we shall