The Semi-weekly Madison County Democrat. (London, Ohio) 1923-19??, 1933-03-28
IN THE ARENAAO OF

C,.E.B.

ais, DlVi0cnu SHeckS anu i ak blilS
of Every individual. National and
International Problems Inseparable
From Local Welfare.
There is a new attitude abroad in
the land This began to be seen some
months ago, and came to elimination
with the bank holidays and their sub
sequent reopening. Where the aver
age citizen was once frankly dubious
as to the future of the country, he now
believes that recovery is in the process
of starting-t bottom actually has
been reached, and that we are ready
for the up-climb. Partisan politics
has been forgotten. Practically unani-
nous support is being given the
Roosevelt Administration by newspa-
pers and individuals of all shades Of
political opinion.
The administration stand on gold
boarding is producing even better re-
suits than was anticipated. When the
banks opened queues of people stood in
lines at tellers' windows-not to with
draw money, but to deposit gold coin
and certificates. Hundreds Of millions
of dollars of gold has been returned
to circulation.
Under the present banking plan, no
bank can issue gold or gold certifi-
Gates without express permission from
the Treasury department. However,
gold is coming out of boarding SO rap
idly that it is even forecast this stip-
ulation may be removed within short
time.
The President expects to have his
$500, ,000, 900 economy drive actually in
operation by the end of March. Saw
ings are to be made as follows: $780,
100000 from reduced veterans COM
pensations; $120,O00,000 in lowered
salaries; S1OO,O00,oo0 through govern
mental reorganization.
Economy is the first step toward a
balanced budget. Other aids, in the
Presidents belief, will be about $125,-
100000 in new revenue from beer, and
$3.50, 100000 from a renewal of the
federal gasoline tax.
The number of men who will be
put to work by legalized beer and the
amount of taxes accruing to the gov
ernment, are moot, much-debated sub
jects. Even taking the lowest figures,
a considerable amount of employment
and taxation will be provided One
question is, what influence will legal
beer have on home brewing? 1t was
certain that if beer were overtaxed,
and price Of fifteen cents or so a
glass made necessary, sales would be
small. Under the Administration bill,
it is forecast that beer will be sold at
its old price of SC glass, 15c bot
tle-unless, of course, states and mu-
inequalities overtax it on their own ac-
count.
odiiCIk ICcluICo III ICSidCIll IAOOCC-
velt's unemployment program are: A
$500,000,000 unemployment relief ap-
preparation to be used in internal inn
provements and the establishment of
camps for the unemployed engaged on
government work; expansion of the
Reconstruction Finance Corporation to
permit loans at lower interest; refor-
estation of marginal lands in the Ten
nessee Valley and elsewhere, etc.
1t was expected that prices Sc
curity, particularly-would rise at the
end of the bank moratorium, because
of renewed confidence and new money
in circulation. Prices did---and to the
surprise of some, are apparently hold
ing to their new levels, an extremely
encouraging sign.
Commodity prices also showed a
general disposition to rise. 1t is diff
cult to present survey of business
conditions in general, because of the
brief time that has elapsed since the
holidays, and the fact that a period
must pass before improvement, even
if started, is reflected in business sta /.
tistics.
Late reports on major industries
show:
STEEL-Good resistance to banking /
crisis demonstrated. Operations have
been downward, but not SO intensely /
as was feared.
AUTOMOBILE - Much optimism
felt. 1t is believed that the growing
public desire to convert money into
goods. will be a boon to the industry.
Sales strong before the moratorium
,eports since to incomplete to be re-
liable.
OIL-Conditions still chaotic, due to
excess production over consumption,
,rices at low levels. Stronger measures
If control over production in major
areas anticipated.
COPPER-Production in 1882 was
$4,000 tons, consumption 100000
ons. This is indicative of the position
f the industry now. Production has
een regulated to demand; principal
'roblem is surplus stocks on hand