The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1934-01-19

res'oen. couraged by his gen.
no0se'e" eral staten emit of
progress made by the recovery admin
istration and all the allied collectiv-
tst institutions.
In plain, forceful language, Mr..
Roosevelt declared that the old meth
DDS have gone into the discard and
that the new social and economic or
der upon the lines laid down by the
national recovery legislation must be
pushed forward and made lasting. OPP
position to this, he asserted, is found
among only few individualists. In
general terms he told of the success
of the NRA in lessening unemploy-
ment, abolishing child labor, establish
ing uniform standards of hours and
wages and preventing "ruinous rival
ries within Industrial groups"
The Presidents claim for farm re-
lief will be questioned by many. Said
he: Actual experience with the OPP
Grafton of the agricultural adjustment
act leads to my belief that thus far
the experiment of seeking a balance
between production and consumption
is succeeding and has made progress
entirely in line with reasonable ex-
pectations toward the restoration of
farm prices to parity"
Brief allusion was made to the war
debts, and it was stated that stabil-
ization of the dollar is impossible at
present because certain other nations
are Handicapped by internal and other
conditions" The message referred
specifically to the disclosures before
the senate banking and currency COM
mittee of rich and powerful financiers
who "evaded the spirit and purpose
of our tax laws" enriched themselves
at the expense of their stockholders
and the public and through reckless
speculation with their own and other
peoples money, injured the values
of the farmers crops and the savings
of the poor" 1t also declared the in
tentiOn of the government and the
people to suppress Grimes of organ
lied banditry, cold-blooded shooting,
lynching and kidnapping that have
threatened our security"
The Presidents closing sentences
especially aroused the supporters of
the Constitution. He thanked the
members of congress for their coop
Grafton, and concluded:
"Out of these friendly contacts we
are, fortunately, building strong and
permanent tie between the legislative
and executive branches of the gov
eminent.
1.-THE letter of the Constitution wise
~ declared separation, but the i'm
pulse of common purpose declares a
union. In this spirit we join once
more in serving the American people,"
TOR the current and the next fiscal
years the President asks congress
to provide sixteen and half billion
dollars, in the budget message which
was transmitted to the lawmakers.
agencies will require almost ten bill
lions, the remainder being for the rou-
tine government establishment. For
these two years the treasury deficits
are estimated at nine billion three
hundred million dollars. To meet
these deficits the President proposes
to borrow on the credit of the govern
lnent ten billion dollars or more in
addition to borrowing about twelve
billions to refinance maturing govern
ment bonds and other obligations in
the next year and half.
BY July 1, 1885, when the President
proposes to halt recovery operations
and begin paying the bills out of taxes,
the public debt, he estimates, will
stand at the all-time record peak of
thirty-one billions eight hundred and
thirty-four millions.
Republican senators and repre-
sentatives and some Democrats pro-
fessed to be appalled, by the Presi-
dents spending program, but it prob
ably will be put through, just the same.
d ECOGNITION of Russia was for
IN maHy completed when Alexander
A. Troyanovsky, the Soviet ambassa-
dor, arrived in Washington and pre-