The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1933-04-15
Copyright, 1888, by United Press
WASHINGTON, Apr. Is (UP)

WASHINGTON, Apr. Is (UP)
President Roosevelt is seriously
considering some form of imitation
to check the present course of de-
tiation and start commodity prices
upward again.
He has sought the advice of his
congressional leaders and others
as they have gone in and out Of
the White House lately as to the
best method. This forum" may
eliminate next week in a general
conference of leaders into which
Republicans would be drawn.
Such a conference now is being
contemplated, it was learned last
night by the United Press.
1t was indicated at first that
gigantic public works program
would be the extent of the infa-
ton undertaken along with this.
The president and his advisors, it
is reported, now are considering
other and additional means Of
more direct nature to increase the
amount and flow Of currency.
Nothing definite has been decid-
ed upon. Economists and states
men however generally are agreed
that more money NUT be put into
circulation to open up the chan
nels of business and industry tina
have been clogged further by the
freezing of billions of dollars OF
deposits in closed banks.
Senate Majority Leader Joseph
T. Robinson and Chairman Pat
Harrison of the finance commit
tee. now converted to the neces-
sity of some sort of initiation. are
busy canvasSing opinion.
As practical matter, the adj
ministration has been forced into
position of preparedness. lnfia-
ton sentiment is growing. Mem
bers of congress formerly cool or
outright hostile to any talk of m
flation arc shifting toward 1t.
The senate is on the eve OF a
showdown on amendments which
include reconciliation Of silver,
revaluation of the gold dollar, is
suance of currency against the
$2,O0O,000,OO0 of farm mortgage
bonds provided to carry out this
feature of the agricultural relief
bill.
The president has been forced
into the position where he must
decide upon what course the lntia-
ton should take, or he may ind
that congress has beat him to it
with some method that he regards
as unsound. 1t was TO check the
inhationiSts in the house that the
Democratic leadership decided to
attempt repeal of the liberal rule
whereby 145 members are able to
force a vote on bills.
Should the imitation drive geI
out of bounds and one of the
pending amendments be adopted,
the president would be forced m
mediatelv to reveal his views. "A
senate vote on these amendments
Yesterday was averted. -,
Objection has been raised TO th@
public works form of imitation on
the ground that it is too slow ana
entails an increase in the pubic
debt to be met in the future. Inc
size of the public works program
is generally fixed around S3,OOO.-
100000. though it is believed 1t
might run even as high as So
O0O,000,000.
This form of initiation might be
made more direct either by giving
circulation privileges to the bonds
issued for the purpose: as is pro
vided under the banking holiday
bill, Or greenbacks might be Is
sued to pay for the, projects
These variations are being con-
sidered. There is also discussion
Of producing greater activity by
federal reserve banks in the purr-
chase of government 6ondS
against which currency can be is
sued. ,,:
It was thought the banking
holiday bill would have an lntia-
tionary effect by extending the
types of bonds against which cur
rency may be issued. But only
about $16,OOO,00O in currency has
been thus issued.