The Washington times., 1933-12-19
ALL RECOVERY
UNITS To GET
FRESH FUNDS
Presidents GoId-Buying Plan
to Be Pushed Irrespec-
tive of Criticism
By GEORGE r. HOLMES

Straight ahead with the New
Deal into the new year.
This was the administrators
watchword today, as year-end con-
ferences developed plans and spe-
cifications for continuing indef-
initely the recovery measures now
in operation. Congress will supply
the necessary authority where it
is found to be needed.
The Reconstruction Finance
Corporation, giant parent of the
alphabetical recovery institutions,
is to be given a new lease on life,
with up to $1,000,000,000 in fresh
money. The corporation now is
virtually broke, having funds
enough to operate only until Con-
gress meets. It has loaned or
otherwise disposed of some $2,232,-
100000, in its far-flung operations
among banks, railroads, insurance
companies, etc.
To Continue Branches
The National Recovery Admin.
istration still has 18 months to
go under it's statutory set-up, but
certain phases of it, such as the
Presidents Unemployment Agree.
ment, will be continued beyond
January l in order to keep in
line those industries not yet
brought under permanent codes.
The Civil Works Administration
will be equipped with an addi-
tional $3.50, 100000 to continue
operation beyond February Is, to
insure carrying 100000 persons
on the Federal work rolls through
the winter.
The Public Works Administra-
tion, under which more than
$1,000 100000 is being extended
on. Federal, State, and municipal
projects, is just getting into gear
and by spring is expected to have
attained sufficient momentum to
absorb many of those now being
cared for by the CWA.
Gold Policy Remair5
The Presidents gold-buying pol
icy, which has aroused probably
more controversy than any other
single act, is to be pushed ahead
steadily irrespective of criticism.
Proof of this was furnished yester-
day when the RFC resumed the
advance in price after a hiatus of
two weeks. The new funds to be
given the RFC will be utilized in
this program, although most of
the RIGS new money is destined
to unlock banks still closed.
President Roosevelt will inform
Congress in his forthcoming mes
sage that national recovery is an
accomplished fact" (the phrase is
his own and that all that is now
needed is to bring together the
loose ends.
Scheme is Defended
Acting Secretary of the Treas
ury Morgenthau cited a rise in
commodity prices today as proof
that the gold experiment is at
tanning it's desired objectives.
He produced a chart showing
that since the beginning of the
operations on October %, gold
has advanced is per cent, while
commodities have followed the
trend by advancing 512 per cent.
They have not kept apace with
gold, under the Warren theory,
but they have advanced, and
that, in Morgenthau's opinion,
demonstrates the feasibility of the
scheme.
President Confident
The presidential message will
present a complete picture of the
national situation. Since his re-
turn from Warm Springs early
this month, Mr.. Roosevelt not
only has conferred with all Of his
chief lieutenants in the Govern
ment service, but has gone out
side and surveyed conditions with
bankers, industrialists and leaders
in almost every branch of buSl-
ness.