The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-04-22
SOLONS ADHERE TO
ADMINISTRATIONS
REP|NANCING PLAN
North Dakotan Would Have Re.
tIoated Farm Debts at
Low Interest Rate
OFFERED As SUBSTITUTE
Effort to Take Sugar Cane and
1ssts Out Of Farm Meas
urs Contemplated
OFFERED As SUBSTITUTE


Washington, April 22.-(R9-The
Frazier substitute for the admins
tration farm mortgage refinancine
plan was rejected Saturday by the
senate. The vote was a to Is.
Advocated by Senator Frazier
CRep., N. d. In behalf Of the Ma
tional Farmers Union, the plan pro-
posed relocating farm debts at IL
per cent interest and ~ per cent
yearly on the principal through bonds
and currency.
It WAS urged BY Frazier to take the
place Of the Roosevelt program for
refinancing agricultural debts 1t ~
per cent interest through q two-bil-
uou-dollar bond issue.
The senate then renewed its work
on the administration farm price
lifting and mortgage-relief bill.
Pending now Is . motion Of Sena-
tor Connally (Dem., TexD to recon-
slider the addition Of sugar cane and
sugar beets to the basic commodi-
ties In the bill.
This may not be pressed Saturday,
although Democratic leaders. who
want sugar eliminated, may seek q
vote on 1t.
A Republican substitute for the
whole farm program, introduced by
Carey Of Wyoming, was expected to
come up for . decision before the
day ended.
Final Vote Delayed
The farm bill Is virtually complete,
except for these major issues. but q
final vote win - held up until next
week because OF the pending Rooee-
velt-backed initiation rider.
Needing emphatic word from Pres
ident Roosevelt that he regards
prompt enactment Of the initiation
measure as essential to his general
reconstruction program arrangements
were made to take 1t up in the SEN
ate at the first opportunity.
Of.
But the severe indictment of its
provisions and aims from the pen Of
four prominent Republican members
Of the senate and house foretQld the
bitter denunciations to come before
the presidents proposal for complete
power over inflationary moves Is
granted him.
Senators Reed Of Pennsylvania and
Walcott Of Connecticut and Repre-
sentatives Smell Of New York and
Luce Of Massachusetts,, issued q
thousand-word statement Friday
night, asserting the controlled infla-
ton plan will bring no permanent
prosperity" that 1t violates the most
elementary principles" Of economies
and is better designed to defeat
than promote business recovery"
Mills Attends Confefence
The Republican attack was pre-
pared In conference attended by
Ogden L. Mills, secretary Of the
treasury under President Hoover, and
was issued Z few hours after Repre-
sentative Dies (Dem.. Tex) had In
troduced q resolution In the house
calling for IN Investigation Of lobby.
lists in general and Mills in particu-
lar.
The Democratic reply to this crys-
tallization Of opposition was . re.
newed determination to let the storm
blow out its fury and then roll up
the overwhelming Democratic ma
jority to batter the legislation
through both houses. Leaders took
note Of Roosevelt's desire for such IN
instrument in negotiating with for.
eign statesmen for international
agreements to stabilize curreucies
and promote trade revival.
The controlled initiation measure.
introduced by Senator Thomas (Dem.,
OklaJ Is an amendment to the ID.
ministration farm bill. will be made
the pending business Of the senate
= soon Is the mortgage refinancing
section Of the farm bin Il disposed
AZ