The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1934-04-06
NEWS FROM CONGRESS
3 CBy Congressman Hoidale) o

Washington, D. c., Mar. 26-The big
thing that confronts Congress at this
time is legislation to get back, at least
to a substantial degree, our lost foreign
trade. Several steps have been taken
in this direction.
Machinery has been set up to get
for us a profitable share of imports to
Russia. This is now well on the way
to success.
The House has passed Bill which
would make it possible to dispose of our
SURPRISES to the East in exchange for
silver. This proposed law has not yet
passed the Senate.
AS this is being written, debate is
progressing in the House on Bill
giving the President power to raise or
lower tariff rates to the extent of 500
above or under the present tariff
schedules. This power, if wisely used,
should be of great benefit to our
people. Here is an Illustration of how
II WOulQ WOrk.
Let us suppose that the tariff is
SOC on a certain article. If the Presi-
dent finds that it would be best to
shut that article out he could increase
the duty from SOC to 75c. On the other
hand, if he found it best to do so, he
could reduce the tariff on that article
from SOC to 25c He could not put a
tariff on an article that Is on the free
list, nor could he put on the free list
an article on which there now is a
tariff. There are arguments against the
Bill as well as there are against nearly
all other proposals, but the advantage
lies in ability to get quick and definite
action when necessary and for the best
interests of the country.
Help for Small Industries
It seems quite likely that much
needed financial help will be provided
for small industries and business. The
exact extent to which the movement
will go along this line is yet unsettled,
but the object will be to help those
who can employ labor and sell goods to
get the wheels moving. When better
start is once reached bank credit will
improve so that business requirements
can be cared for in a normal way.
In the meantime, the President has
authorized the r. F. c. to make direct
loans to industry in exceptional cases.
Better Home Financing
Remarkable progress is now being
made in saving distressed homes from
foreclosure. The law has been great
blessing to hundreds of thousands of
families Prospects are that provision
will be made to take care of homes
that are in need of repairs and i'm
provementS. This will not only help
the home owner but will stimulate
business and help the employment
situation in large way.
Minnesota Gets Construction
From time to time we are prying
loose considerable Public Works money
for Minnesota. Last week we got
1898, 900 for school building at Winona
and 1921, 500 for hospital building at
Virginia. Smaller amounts were granted
to eight other Minnesota communities.
With what has gone before and what
is coming, there should be consider
able employment in short time.
But we were so far down that it takes
time to work up to a proper level.
Money Also Comes In.
We hear so much about money being
paid out by the Government that we
wonder where it all comes from. But
money is also coming in. The r. F. c..
is taking in an average of $4,000, 900 a
day, as repayments on loans. Most
of the money put out is in the form of
loans that will be repaid. While there
is a limit to what we can stand, we are
not going broke.
The reduction of interest rate from
8 to az per cent on loans made by
intermediate Credit banks to farmers
co-operatives is an encouraging sign.
This is the lowest interest rate in the
history of these loaning institutions.
Secretary of Labor Perkins announces
that 345 900 idle men were put back on
the pay rolls between January Is and
February Is.
insult is Wanted
The saying that the rich offender