The Washington times., 1934-01-01


I might add here, however,
that while we were fortunate
enough not to descend to as low
a depth of economic depression as
some of our sister cities, that is
simply the reward for the fact
we do not ascend as high as they
in times Of prosperity. Washing
toms stability keeps it in the mid
die course and on even keel with
the result that its pendulum
swing is not SO drastic in either
direction.
While it is true the banking
problem which faced the COM
nunity last March had its dis
astrous effect, the stability of the
community was indeed well illus
trated in the fact that practically
every one Of it's banks remained
open when nearly all those OF the
rest of the Nation were closed
And they closed only on Presl-
Dental proclamation.
I am happy to say that the
Washington Board OF Trade
played conspicuous part in
MANY of the improvements, from
which the citizens of the Ma
tional Capital received benefits
during 1888.
Tax Rate Reduced
First and foremost, the Board
Of Trade lent its energies and
influence to a tax reduction in
face Of curtailed budgetary allow
anceS by Congress. I am happy
to call to the attention Of prop
erty holders the success Of our
undertaking to the extent of the
reduction of the tax rate from
$1.7O to $3.50.
The board called to the atten'
ton of our municipal author.
tiles the need of equalization OF
assessments and a reconsideration
Of the values upon which they
were made, which resulted IN a
decrease, at this time, Of O large
number of our downtown bus
mess properties which will be ex'
tended into the residential field,
The board, finding the Public
Works bill had eliminated the
District of Columbia under Ger.
tain sections, appeared before
Congress and, through its efforts,
had inserted into the bill an
appropriation for the National
Capital in an amount Of nearly
100000.
Gasoline Fund Released
Other items which I may men
ton as outstanding among the
many accomplishments of the
beard include the release, through
the Director of the Budget, of a
$1,5O0,O0 surplus in the gasoline
tax fund, the success Of the
renoviZe campaign conducted by
this organization, the appeal
through the presentation of peti'
tions to the President Of the
United States, for adequate ap
propriations for the Government
to continue its purchase of proper
ties In the Southwest section OF
the city in order to relieve the
general conditions and distress 81
the property holders in that area
through the action Of the Govern
ment in ceaSing to continue its
purchase after leading property
holders to believe they would sc
continue, the requirement of ap
preparations for a new Calvert
Street bridge, all of which have
added materially to the welfare
Of the community.
During the coming year there
Is every indication that the people
of Washington will enjoy a con
tinued upward trend of prosperity
not that we expect any boom
rush. which proves always to bt
detrimental in the final analysis
but there is every reason to be
lieve that reasonable increases II
our economic welfare will TAKE
place.
one of the hardest blows which
this city received was the reduc
ton In the salaries Of Govern
rnent employees. coupled with tn!
.1,,scn,.fsISltv of tenure of their OF