Evening star., 1934-01-23
FARMER WILL GET
MOST FEDERAL AID
Funds This Year to Equal 80
Per Cent of Total 1888
Income.

THE largest single beneficiary from
the huge Government spending pro-
gram, for which s6,357, 100000 already
has been appropriated, will be the farm
er, who will receive q total Of $685..
100000 from all sources in the current
fiscal year ending June 30, 1884" de-
clares Moody's Investors Service in the
current issue of its Monthly Review and
Outlook. This Is roughly equal to 80
per cent Of 1888 gross farm income"
will receive 81 $3.50, 900 900 and building,
for which a total expenditure of 81 ,229,-
900, 900 Is contemplated. Retail trade
will benefit indirectly from expenditures
for practically all groups. These fig
ures are exclusive of S1,166 ,000,000 In
appropriations still to be made by Con-
gress at this session.
OF the 81 1888 900 900 which has been
allotted to agriculture in the current
fiscal year. $500, 100000 already has been
spent. The amount allotted to farmers
includes 81, 1868, ,000, 900 emergency to be
spent for loans on agricultural sur
pluses. loans for exports, crop loans,
mortgage relief. etc, plus 5000, 900
of AAA benefits from the ordinary
budgeO for crop reductions. OF this
latter amount, hog raisers will receive
$50, ,000. 900; cotton growers. $145 ,000,-
900; wheat growers, $100 900 900; corn
growers. $80,O00,000: tobacco growers,
100000
Depositors to Be Helped.
Bank depositors, especially in the
weaker banks, as we'll as business de-
pendent on those banks, will be aided
by the $3.50, 900 900 to be expended in
this direction" the analysis continues.
"Of the total 81 $50, 900 900 is in the
form of loans and proceeds from sale
Of preferred stock and notes to the r.
F. c., plus $3.50 900. 600 Federal deposit
insurance fund and s50,000.O00 for pre-
ferred stock OF the new Federal Saw
ings and Loan Associations. Financial
institutions and home owners will bene-
fit from the SASH 900, not included In
the figure for banks, to be expended
for the refinancing of home mortgages"
Building also will benefit substan-
tally from Federal spending. The ST.
229 ,Ooo. 900 scheduled to be spent in
the current fiscal year compares with
private and public works construction
in 1888 valued at Sl,256,0 100000 OF
the building total, roads will receive
1897, 900 and other construction
S892, 900 900.
Railroads, according TO the budget
figures, will receive s93,000,0o0, chiefly
for debt financing, and S84. 100000 for
purchase OF equipment and materials,
such as rails and ties, freight cars and
locomotives. This latter figure has been
increased to 100000 since the Of
fetal budget figures were prepared.
Retail Trade to Benefit.
Retail trade. as mentioned, will
benefit indirectly from practically all
types of expenditures. saws Moody's.
1T will, moreover, receive considerable
stimulus from that large group of ex-
penditures which find their way di-
rectly to consumers in the form of d.
rect relief or pay rolls. These aggrega te
81 .205 900 900 composed of: State re-
lief, S463,000 900: Civil Works Admin
istration. s4OO,000,000; conservation
work. S342 100000
The amount spent in this group
may actually prove larger if additional
appropriations out Of the contemplated
total Of s1.166 100000 are voted for the
extension of c. w. A. and other relief
After reaching consumers. these sums
will, of course, tend to be spent by them
in many different directions, but it
may be assumed that the bulk will be
paid fer food. clothing and similar
necessities. Retail trade. therefore, is
the broad industrial group that will first
Ieel the benefit of these expenditures "