Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1934-11-08

"A0HTNGTCN
HUGE BUILDING PROGRAM
Il BILLION IN FIVE YEARS
URGE NEW DIRIGIBLEs
UNEMPLOYMENT INCREASE
BANKERS FACE FACTS
SIGNS OF TROUBLE AHEAD
"REcoMMENDs VS.. "DEMAND"
The Public Works Administration
Is recommending a f~ive-year pro
gram, involving the expenditure Of
vs., 900 900 900 on low-cost housing
and $1,000, 900, 900 on works that will
mot be self-liquidating. Whether the
report has been submitted to the
president at this writing or not is
uncertain, but it is reasonably GER
tain that these recommendations are
included.
The housing fund would be avail
able to localities OH a dollar-for-dol-
lar matching basis and be subject to
repayment, but the Public Works
expenditures would be ir%retrievable.
Administration officials, 1t Is said,
are almost unanimously OF the opin-
ion that large scale relief expendi-
lures must end as quickly as pos
sible, and that construction offers
the best opportunity to provide en-
ploy1nent, LOW-cost housing pro-
jects would stimulate heavy indust-
ries, now suffering acutely from gen
eral stagnation.
Harry L. Hopkins, Relief Admin
istrator, Is known to favor some
method of regular work for the UNI
employed, so that a man will do
constructive work for what he gets.
During the week ending October II,
he had w1,387,119 persons SO employ
ed. earning an average OF about ten
dollars a week. However, during
September, he estimated that 16,649,-
072 individuals were being support
ed wholly II In part by relief funds.
The presumption Is that the pro-
gram would be financed by long-term
bonds, bearing relatively low interest
rates. AS the expenditure would be
spread over five years, not more
than $2.40O, 900 900 would be needed
in any year and the Treasury would
probably be able to finance 1t with
out much difficulty. The Federal
Reserve Board, 1t Is said, reports
that there Is about twelve billion
dollars of idle money in the banks
OF the nation which could be put to
work through such a bond program.
within a year or two, II
industry has revived sufficiently to
take up the unemployment slack, the
government could call off It's pro-
gram.
The National Advisory Committee
for Aeronautics has approved plans
for dirigible mail and passenger ser
vice to Europe and South America,
and definite recommendations will
be made by the Commerce Depart
ment In the near future. 1t Is under
stood that two great American Yep
pelins would be constructed for trans
Atlantic service and a smaller one
for the South American line. lncid-
entally, this announcement followed
testimony by DR.. Hugo Eckner, Ger
many's foremost expert, before the
special committee, during which the
German told of operations OF the
Graf Zeppelin which has made II
flights across the Atlantic n has
flown 600, 900 miles in six years. he
also outlined plans of a service from
Germany to the United States
While there Is some difference OF
opinion as to the matter OF unem-
ployed in the nation, there seems 70
he general agreement that the unem-
ployed in September Of this year was
greater than In September, 1888. The
American Federation OF Labor says
that for the first time since the
Presidents unemployment program
started in July. 1888, unemployment
has exceeded last years level.
MoTe0Fe THIS organisation says
that the total number at work In
September was 39,367, 900, about AGO.
900 less than in September, of last
year. In addition, the normal In
crease OF population Is said to have
added 100000 to the army OF 1oD-
seekers, so that the total increase In
unemployment over last year Is est
imated at 843, 900 persons.
The olive branch extended the ad-
ADMINISTRATION by the bankers In their
convention, recently concluded at
Washington, was not instigated by
any conversion of the ~financiers to
the so-called New Deal or to any for
getting Of the Presidents caustic
comment on the nations money
changers" 1t was forecast by the
impending political situation In
which many bankers expect the
president to be assailed by those
who want to go much further to the
left than he intends, and as a matter
d commo sense the bankers wished
to strengthen the Chief Executive be-
cause he will, to that extent, be
fighting their battle when he resists
what he considers unwarranted pro
posals.