Plentywood herald., 1933-11-09
TO INSURE DEPOSITS
MIA PASSING CRISIS
ROSENELT'S REPORT
AFTER CHISEf4ERs"

| Recent developments have en-
hanced the prospects for successful
operation of the Federal Deposit
oT's Insurance Corporation. which
Will undertake the insurance o
oank deposits in this country be.
ginning January lst. A decline in
security and commodity price.
coupled with the acceptance of new
bank capital from he Reeonsfruc
ton Finance Corporation BY fhe
New York banks. under the pre-
ferred stock sale plan. indicate fhat
the way is open for the government
to pour new capital into the bank
ing structure of Tie country. Re
quirements for admission 10 the de-
posit insurance fund are very lib
eral and all thai Is necessary II for
bank to have assets sufficient fo
cover its public liabilities. Even SO.
there Ire banks bank III Ia operation ton nos
which are unable to fulfil this re
quirement
Disinterested Observers are of the
opinion that the MA is not vet =
success but thai ii is too early TO
call the effort a failure Consump-
lion and higher prices are tagging
behind production and wages, with
agriculture following In the rear
This sagging of certain sectors OF
the economic structure is undoubt-
edly holding back its progress buf
there is no indication that the Pres
ident. or his closest advisors. have
any idea of permitting the NRA to
gradually pass ont.
That statistics show progress TO-
wards a better day is undoubted.
although the percentage increases
are not equal. For example. the re.
cent estimate Is that wholesale
commodity prices Of textiles has in
creased 26.6 percent, which is the
highest, while metals have gone I'D
only 3.5 percent. Foods with c.
and farm products with 7.3. are
closely followed BY house furnish
ings at lis and building materials
at 14.3. Near he top is fuel and
lighting at q
That these gains are incomplete
and uneven is admitted. but there
are many who believe that confin-
ued public confidence and support
In the NRA will cause continued
recovery and that the new credits
being released In the country will
take UP the slack and tend TO raise
all prices, create business and re
duce unemployment and payrolIs
are not to be considered accurate
the calculation Is that employment
has increased 1T.6 percent in less
than five months and that payrolls
have gained around twenty-three
percent.
President Roosevelt estimates
that 100000 individuals have been
given employment within the past
few months. He recognizes that es-
Inmates of unemployed last spring.
which showed twelve or thirteen
millions without work, including
several millions, who for various
reasons. coud not be classed as re
gular workers. That this estimate
Is fairly close is seen by the state
ment of William Green. president of
the American Federation of Labor.
who says that unemployment has
been reduced 100000 and that
of this amount 10000 have been
reemployed as a result of the func-
tioning of the Presidents recovery
Mr.. Green estimates the
number Of unemployed at 1O.098,-
000 at this time. The Federation OF
Labor says that $4,000 unemploy-
ed persons were restored to work
In August and $1,000 in Septem-
beT.
In his recent radio address to the
American people. President Roose- i
yelt let it be known that he was not |
satisfied with the amount or the !
extent Of the RISE in prices of farm |
products and that it definitely is his I /
policy to extend the movement in |
one way or another. However. ap- |
parently taking notice of some nm |
rest in agricultural sections, he
points out that during the course
of the year 1888 the farmers OF the |
United States will receive thirty |
three per cent more dollars for
what they have produced than what
they received in the year 1882"
Cautiously, he explains that this II
the average for the country and ad-
mits that he has reports that some
sections are not any better off than
they were a year ago" Reiteratine
his policies. as originally stated in
March the Chief executive declared
that mo one who considers the
plain facts of our situation believes
that commodity prices, especially
agricultural prices, are high enough
yet"
Az QUESTIONABLE has been mailed
to many large corporations asking |
them to report salary schedules oil
executive officers and directors
OF d stir was created In
business circles by this action os
the Federal Trade Commission and
this was increased when inf0rma-
ton became general that the Pres
Ident was interested in the inform
alton to be obtained
The plain intention OF the gov
eminent ~ oo after "rhiselprssf was