Evening star., 1933-02-13

stepped into the breach. The deposit
tors funds are again safe. Surely the
banks cannot be condemned for hesi-
tating to let out funds again to borrow
ers who have already demonstrated
their inability to repay them. The
trouble lies not with the banks, but with
the railroads. When they show that
they can meet their financial obliga-
tions promptly they will get all the
funds they need"
X 4 4
Indorsing 'the good results that have
accrued to the Nation as a result of
the activities of the Finance Corpora
tion," the Altoona Mirror declares:
The business interests and the people
at large, working on part time or en-
tirely jobless, viii look to the banks to
do all in their power to help the coun-
try to emerge as speedily As possible
from the slough of most difficult eco
nomic era. The banks have been ex-
tending comparatively little credit for
some time, but it Is for them to decide
whether this policy, however wise it
may have been during the past year, Is
Nhe course of wisdom for them to pursue
In the months to come, particularly
with reference to general industry. A
general return of employment for all
hands is the solution Of most of our
present ills and any policy that will
contribute to that end would appear to
be the sane and sensible one to pursue.
Recovery can come only through nor
NAL and controlled channels, but these
must be utilized"
Better methods are demanded by, the
New York World d-Telegram, with the
statement: "The term self -liquidating'
should be liberalized. Thousands Of
public projects await this change
projects in slum elimination, schools,
reforestation, reclamation, parks, hy-
droelectric development Immediate
construction along these lines would
tcla to r r'il,e the pump Ct sluggish in
dustTy. st-lG. buying power. add perma-
nent improvement and wealth to the
Nation. We have the mechanism for
reconstruction. Let it be put to work"
On the other hand, the Santa Monica
Evening Outlook voices the Endorsement
of the work done: THE handling Of
the great sums involved in the r. r. c.
loans has been, in the main, above
criticism. 1t is easy to find fault, and
when the total volume Of relief has
amounted to 5000 separate loans it
would not be strange II an occasional
mistake of Judgment occurred, but they
have been of a minor character. No
human institution is 100 per cent per-
feet. The work Of the Reconstruction
Corporation as whole has been a
great credit to American craftsmanship
and Of ineStimab,e value to American
business life"
Lack of cohesion in affairs of gov
ernment during the period of transi-
tion from one political party to an
other" is emphasized by the Fort Worth
tar-Telegram, with the added explain
alton: THE Reconstruction Finance
Corporation came into being ccinct-
dental to presidential election year.
The party leader VINO set the plan to
working will be succeeded by the leader
OF the opposition party on March 4.
Under such circumstances what more
natural result could be expected than
the mark time procedure OF all par
Elephants in the operation of the three
financial relief agency?
What more could be expected OF @
group, some of whoSe members appear
certain to be succeeded within a few
weeks? = Once the transition period
has been bridged, the new members
installed, a policy for the future adopt
ed and the preliminarieS completed, its
full program should be under way and
the full measure Of its expected bene-
fits realized"
On the condition Of the railroads the
City Times says: '"They are
carrying about half as much freight
as they were hauling three and four
years ago, and the loss In passenger
traffic is still greater. Nevertheless,
there Is satisfaction in the indications
hat the great carrier systems no longer
are experiencing steadily declining in
core. Transportation is so essential
% the welfare o. the entire country
rat any cTtce--e CT sn improved
status of the railroads is
gratifying. But earnings of most reads
IRE still far short of providing for pay
nent CT interest on their bonds, and
lnless substantial increase occurs
'ocn in the volume of traffic readtugt-
nent In the obligations of some OF the
eading companies win become neces-