The midland journal. (Rising Sun, Md.) 1885-1947, 1934-08-24

airy or wage basis Is going to- suffer
unless the Presidents program In
wolves some hitherto unknown and I'M
disclosed treatment of this phase of
the problem.
The circumstance Is simply this:
Payrolls and wages almost never rise
as rapidly as commodity prices-the
things you buy in the corner grocery
and the clothes and shoes. Neces-
sarily then the wage Garner or the
white collar worker has less in his
number of dollars with which to buy
the commodities upon which the infia-
tionary process has operated to in
crease the prices.
AS one who has spent some eighteen
years as a writer on business and
financial topics, 1t seems to me that
probably the worst effect from the sill
yer naturalization order is the added
uncertainty which 1t creates. The
thing that business generally Is recog-
nl2ed as needing most Is assurance and
security. Mr.. Roosevelt has repeated
ly made this statement and it may
be that later on he will explain how
the silver order provides some new
security.
In the meantime the sudden acquisi-
ton by the government of all the sill
yer stocks has provided nice profit
for holders of domestic silver and has,
through the psychological effect, pro-
vided an equally nice profit for the
owners of common stocks of corpora
lions. Authorities tell me that this
result was natural and, therefore, to
be expected.
The Federal Housing administration
newest and regarded by many as the
most potent of the
FLA Makes alphabetical organi-
Rand Strides cations, has made
rapid strides In the
last few weeks toward getting set for
operation. To my mind, three men
have been responsible chiefly. These
are James A. Moffett, the administra-
tor, Ward Canady, his assistant, and
Lambert st. Clair. The latter came
down from New York on loan from
his own outfit but the fact that he Is
here three days and in New York three
days each week has not appeared to
lessen his accepted value as an or
ganizer.
The law under which the housing
administration operates was drafted
for the purpose of enabling household
ers to make repairs and do the other
odd jobs around residence and small
business building which so easily are
allowed to go undone during periods
when money is not flowing freely. 1t
is countrywide in its scope. 1t will
operate through the medium of the
banks and local organizations and it
is the firm conviction of the officials
charged with this responsibility that
offers to loan money will come from
the banks in greater number now that
a federal agency is prepared to Sin
sure" the note which the borrower
gives.
1t must be understood that these
loans are not going to be made with
reckless abandon; the prospective bor-
rover must, after all, have some sup
port financially and must be able to
show that there is reasonable chance
of repayment. But the point is that
national campaign is about to get I'M
derway which will awaken, it is hoped,
hundreds of homeowners to the fact
that the roof needs repairing or the
front porch steps are in bad shape or
that paper or plumbing should be
looked after.
The law apparently has left several
openings which did not appear to
those who drafted it. For example
one Of the housing officials told me
that he could see no reason why
farmer would be precluded from build
ing a pond on his land with the aid of
loans under the act. 1t occurred to me
that this suggestion was very timely
because 1t Is certain that if more farms
had had ponds on them considerable
amount Of live stock could have been
watered during this current drouth.
I do not assume that the housing adj
ministration is going to make an es-
pecial drive for pond on every farm
but this illustrates the extent to which,
the credit will be employed.
In connection with the organization
procedure of the housing administra-
ton / want to call attention to con-
dition that exists in Washington about
which individuals throughout the
country who are seeking jobs ought
to know. There were more than
thirty thousand applicants for jobs at
the housing administration offices. 1t
will employ not to exceed five hundred
persons and more than half of the APP
pointments already have been made.
Among those who showed up at the
housing headquarters were several
men who had come almost the full
distance across the continent. They
told the personnel officer that there
was no work In their home towns so
they packed their little grips and