Evening star., 1933-05-04
ROOSEVELT SEEKS
TOCLEAR PROGRAM
Reported Willing for Certain
Measures to Go Over After
Congress Adjourns.
BY DAVID LAWRENCE.

President Roosevelt is determined to
clear up the legislative program so that
Congress can adjourn by the first week
In June. While there is much i'm
portant legislation pending, the Presi-
Gent is represented as willing to let GER
tain measures 60 over until the next
session in January.
No decision has been reached on the
-Steagall banking bill, but 1t Is
being argued in some quarters that
legislation to revise the banking system
might prove disturbing at time when
the whole banking structure was still
undergoing rigid Government super
vision, with revaluation OF assets.
Complications Seen.
The contention is heard that many
of the provisions of the pending bill
would affect existing situations in vari-
Gus banks and perhaps complicate re-
organization by forcing new readjust-
ments and liquidationS. There is on
the other hand strong pressure to
get banking reform so as to instill con-
fidence in the banks generally The
insurance plan, whereby deposits up to
$4,000 would be guaranteed and limited
protection be given to sums In excess of
that amount, Is considered Of para
mount Importance at this time In re-
storing confidence.
1t is quite possible, of course, that
certain sections OF the bill might be
passed separately and the remainder
left for future consideration. The
truth is that until the administration
makes its position clear, the fate of the
banking bill will not be known.
: Reports from different parts of the
country indicate that here and there,
where some banks were permitted to
reopen and subsequently, closed, conf
oence was thereby weakened in those
communities The Treasury has had
its hands full with a limited staff, re-
valuing assets and reorganizing capital
structures.
There is some criticism that the
process has been too slow and that
1t has not been adequately managed.
Depositors are growing restive in many
communities because of the slow prog,
ress being made. The answer usually
given is that it takes time for the
various examinations to be completed
and that. while there may have been
some mistakes made in permitting GER
tain banks to reopen Immediately after
the bank holiday, no such mistakes are
going to be made with respect to banks
as yet unlicensed.
Final Policy Not Known.
1t is not yet clear what the final
policy of the administration will be
toward the reorganizing of closed
banks. The Reconstruction Finance
Corporation has loaned a negligible
amount of money for new capital. The
Treasury Department itself is only now
getting needed personnel to help Sec
retary Woodin, who has not been in
the best of health recently.
Undersecretary Ballantine has been
serving at the request Of the present
administration, but is anxious to return
to the practice of law The nomina-
ton of George Radcliffe of Baltimore
to be Undersecretary has just been
sent to the Senate. The Treasury De-
partment has three assistant secre-
taries. More than In any other de-
partment in the Government, the work
is so divided that the Undersecretary,
who is the right-hand man to the Sec
retary of the Treasury Is almost as
important an official as the head of the
department himself. Hence the failure
to appoint a new UnderSecretary to
help shape policies has delayed re-
organization of the department itself.
Now. however, 1t is believed substan-
tial progress will be made toward the
formulation Of new policies and their
translation into immediate action.
(Copyright 1881