Evening star., 1933-10-22
Consumers and
Farmers Press
ON onProgran1.
NORRIS is FIRM
ON CURRENCY
Hastings Requests
Executive Stale
Money Plans.
By the Associated Press.

0y Vie ASSOSidtCN iSSS'
His N. R. A. program aSsailed
on one side by urban consumers
protesting higher prices and on
the other by farmers demanding
more for their products, President
Roosevelt tonight again will make
an explanation of his policies to
the country.
Mr.. Roosevelt yesterday was In
the old Colonial town of Chester
town, Md, receiving an honorary
degree from historic Washington
College, but ,tween times he was
patterning the radio address to
be given from 10 until 1920 pm,
which may also deal with the
Russian question that was revived
by his sudden announcement Fri
day that personal conferences had
been arranged with Russian
envoy.
However, the farm situation,
precipitated by the strike in the
wheat belt and the denunciation
of the recovery program by Gov.
Bryan of Nebraska, was claiming
the most serious thought of the
entire administration for the
present.
Norris Reiterates Stand.
Senator Norris, the Nebraska Repub-
lican independent, who supported Pres
ident Roosevelt in the last campaign,
reiterated yesterday his belief that cur
rency expansion was the peg upon
which an immediate uplift in farm
prices must be hung. He added ne
was doing everything can to help
the President carry out his policies.
The Norris explanation OF his posi-
ton was made in reply to request
from Edward Keating. editor OF Labor
the official publication OF railway
unions. 1t said in part:
II wired the President that thought
he could accomplish this desired result
,restoring purchasing power OF tne
farmer) by issuing new money instead
of new interest-bearing securities IN
500OOO,O00 of the fourth Liberty
bonds. l.
This would save the taxpayers IN.
terest on the bonds, which interest
amounts to more than s65, 5,ooo, GOO
wear. 1t would increase the currency
by the amount of the bonds Cancelled
and would be a great step in restoring
the purchasing power of the farmer.
It am whole le-heartedly following the
President, but I am earnestly advising
him that in my judgment, expansion
of the currency is necessary so tnat
those in debt can pay what they owe
in dollars of the same value as they
borrowed when they went into DEBT.
Hastings Seeks Statement.
Meanwhile. a definite statement on
what he intends to do with respect
20 money was asked of Mr.. Roosevelt
by Senator Hastings, Republican. OF
Delaware. He asserted business was
disturbed and distressed" at its lack
of knowledge of the Presidents nten,
ton regarding monetary imitation ana
EXPRESSED vigorous opposition to mia
tior.
The possibility of arranging loans to
wheat farmers similar to those already
decided upon for cotton farmers was
being studied carefully by the Farm
Administration, with indications OF an
early announcement The funds prob
ably would be furnished by the Recon
struction Finance Corporation, and the
Commodity Credit Corporation, set up
to handle the cotton loans, would ad-
minister the loans.
Reports were reviewed that Presl-
dent Roosevelt would act soon to bring
his three major recovery units-the
Industrial, Farm and Public Works Ad-
ministrations-more into harmony.
Open discord between the Farm and
Industrial Administrations came out IN
the retail code controversy, with Hugh
S. johnson. the N. r. A. chief. advo-
ca ting a ban on sales below cost plus
10 per cent to eliminate cut-throat
competition. The opposition OF Sec
rotary Wallace, who felt that a greater
consuming price might be loaded upon
the farmer, took the problem to the
White House, with President Roosevelt
still to announce his decision.
N. r. A. officials privately expressed
belief that their program had been
tempered by the slow spread OF the
public works funds.
johnson in letter accepting the
(Continued on Page 3, Column A.