The Republican. [volume] (Oakland, Md.) 1877-current, 1933-02-23

the past few months about balancing
the budget, reducing taxes and ma
tional and local expenditures. So far
as the local units of government are
concerned the agitation for economy
and lower taxes have had some effect.
Fewer municipal bond issues are being
sold than for many months. Expenses
in many states and cities are being
trimmed, and this will eventually re-
suit in lower taxes if the people will
only stay on guard.
But how about the National Gov
eminent? What are it's prospects
along this line for the coming
months? Are we to have balanced
budget through reduction of national
expenditures, or are we to have still
higher taxes and more economic pres
sure as result? Only the future can
tell. Both political parties were on
record for economy and the slashing
of expenditures. But enough propos-
ais have now been brought forward to
increase Uncle Sans expense dozen
billion dollars if all of them were to
be enacted. And very little is being
heard about reduction of expenditures
and fewer taxes in Washington. The
Republicans are naturally saying lit
tie, as they are going out of power
in few weeks. Perhaps Mr.. Roose-
welt will say something to calm the
troubled waters within the next few
weeks. 1t is earnestly to be hoped
so. He is said to favor a twenty-five
per cent cut in expenditures.
Of the proposed outlay of billions,
many of the plans are for helping the
farmer. A great many people still
seem to have an idea that the United
States Government can restore the
prices of agriculture through some
legislative magic. A huge program
has been mapped out and introduced
by the Democratic leader, Senator
Robinson, of Arkansas, calling for an
expenditure of billion and a half to
assist agriculture. The program is
said to include the recommendations
of the farm organizations of the coun-
try, who were promised by Mr.. Roose-
welt in the campaign that if they
would get together on program he
would agree to it.
The plan includes provision for a
new billion dollar government agency,
the Emergency Agricultural Ref
nance Corporation" to lend up to
$4,000 to individual farmers on first
or second mortgage security provid-
ing the total mortgages do not exceed
rs per cent of the value of the prop
erty. The bill would also put the
government squarely behind the Fed
eral Land Banks.
But there are many other proposals
for federal OUTLAWS of money. Senator
Costigan, Democrat, of Colorado, has
introduced a measure which, it is
claimed, establishes permanent
federal dole for the idle, with half
billion dollar relief fund to be admin
istered by an Emergency Federal Re-
lief Board. Another bill provides for
a United States Exchange Corporation
with a capital Of half billion and
authority to issue government deben-
lures to the sum of two and half
billions to lend funds to corporations
to provide employment and to individ-
uals to provide them with purchasing
power.
Then there are additional proposals
for the payment of the veterans bon
us which is due in 1915. Mr.. Pat
man of Texas, still wants to pay for
this by initiating the currency. Other
bills provide for federal aid to states,
counties and municipalities for edu-
cational purposes. In short, the num-
Der of proposals for appropriating
more federal money to be raised either
by more taxes, by bond issues or by
imitation is so great as to make one
fairly dizzy in contemplation.
In the meantime foreign made goods
are flooding the country, coming over
our tariff wall for the reason that de-
preciated currencies abroad have made
this possible. This shuts down our
American factories and puts out of
Jobs American workers who could be
using more of the products of the Am
erican farm, if the workers could at
ford to buy them. Damming of this
flood of foreign made goods, made by
cheap labor paid in tin money, would
go a long way toward restoring bus
mess and agriculture in America.
In Washington, the Comptroller of
the currency reports that for the