Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1934-09-20

Aoubht eventually iootn6 tAo auiuo
ity of Conservatives. There will b
no occasion for Mr.. Roosevelt I
launch a new party in support OF hi
policies. although because OF the a
tachment that many Liberals hav
for the Republiean@label, it is prob
able that some definite designation
Will be evolved for those Republican
who cast their lot with the President
A reverse is also true In that, 1
the Republican party is dominated
by Conservatives, no new party vii
arise to carry that banner and there
will be a gradual drift of d%issentien'
Democrats into its ranks although
the step may be softened by the tenn
porary use of some other appellation
PWA funds are financing more
than half of the public school con
struction at the present time, no
cording to Secretary Ickes, who
points out that 100000. 900 have
been allocated for this purpose
Through the middle of August, $133,
1862 had been advanced for 1,011
educational buildings, with about
three-fourths of the sun being spent
on elementary and secondary schools.
AS many OF the allotments are for
grants only, thirty percent of the
cost OF labor and material involved,
1t is estimated that the PWA pro-
gram involves the expenditure OF
1910, 600. 900.
In making his final report to the
President, Donald R. Richberg lists
five basic results OF the first years
battle against the depression, as fol
lows: (1) Unemployment OF nearly
nine million workers, az Rising
farm prices, increasing farm incomes
more than one billion dollars: (3)
Financial relief through disburse
ment Of five billion dollars, OF which
two billion have been repaid; (4)
Restoration OF a healthy banking
system; and (5) Saving Of one mil
lion homes from foreclosure.
Figures relating to corporation
earnings do not indicate that profits
are being destroyed by government
policies Recently, the Federal Re-
serve Bank of New York compiled
the net profits for 407 industrial and
mercantile companies, showing that
profits for the first half OF 1884 were
five times those of the first half OF
1898. All groups but shipping and
aviation reported better earnings for
the period and the clothing and tex
tile group more than doubled its
last years gain.
While this may be something OF an
incomplete picture, one might bear
in mind that the number OF compan-
les of all kinds reporting deficits
through operations in the first half
OF the year decreased from forty-six
percent Of the total In 1888 to twenty
four percent in 1884.
At the end of August, the RFC had
purchased $685. 10, 021 worth of pre-
ferred stock, capital notes or de-
ibentures OF banks Of the nation. In
addition, 1t had authorized the in
vestment OF $15S, 900 900 which has
not been disbursed. Banks of the
State of New York had received
$3.50. 900, 900, leading the nation, with
those OF illinois second, with $780,
100000.
In some of the banks the Recon
struction Finance Corporation has a
majority voting control and has ex-
ercised 1t at a stockholders meeting,
although, as a general rule, the Cor
poration has not interferred with
bank management.
The Senate investigation into the
activities of arms makers has de-
veloped into quite a show. In fact,
for the first time, In any nation, in
vestigators dragged into the open
the activities Of the munitions in
dustry. 1t Is the admitted hope of
Senator Nye, director OF the investig-
alton, that government control OF
arms and munitions making will re-
suit from the disclosures. Moreover,
1T EN- reasonable to suppose that
the information secured may
come reforms to abolish practices
that allegedly stir up peoples and
make wal more likely.
Americans will be interested In
Japan's announced intention to abb
rogate the Washington and London
naval treaties. This decision, 1t
seems, Is conclusive. AS a result,
the policy Of limiting navies by
treaty will probably be discarded and
each nation will build without re-
striction. 1t is taken for granted
that the United States will reconsid-
its position In the Pacific ocean,
with the possibility that some forth
fications will be provided in the area
in which they are now banned by
A new drive to prune the relief
rolls down to those actually In need
has been started by Harry L. Hop
kins, relief administrator, who points
out that the cost OF relief to the a
tion was 1892, OOO,O 900 In July. There
were 3,83O,0OO families, 525, 1000
single persons and 200,0 900 transients
relief during the month. Or the
entire cost paid out by Federal, state
and local governments, Mr.. Hop
kins says that two-thirds OF the total