The Waterbury Democrat., 1934-09-06

corn-hog contracts on which ap. proximately $64O,360 will be paid.
 Foundation of Nation
 Agriculture is the foundation of the nations industrial and com mercial activities. While New Eng. land is largely dependent upon in dustry and commerce, it has real stake in the successful operation o1 the Agricultural Adjustment Act Increased farm purchasing power in the major agricultural centers oi the country means that farmers in these areas are able to buy the goods that are produced in indus try. This in turn increases in- dustrial employment and gives those engaged in industry increased purchasing power with which to buy the goods produced by agri- culture, especially the goods pro- duced by those farmers who supply local markets. For the farmer in New England, industrial activity made possible by the restored pur- chasing power in the great agri- cultural centers of the county means a better market for near by farm products and higher prices for these products.
 Connecticut Farmers Aided
 The Farm Credit Administration has also been of much assistance to the farmer. Established to lend money to agricultural inter- ests, to prevent foreclosures where possible, and to assist the farmer in many other financial and pro- duction difficulties, this agency has rapidly expended in usefulness
 From June 1, 1888, through July 31, 1884, Connecticut farmers re- ceiyed loans and discounts of $2,- 70O,826 through Farm Credit Ad- ministration agencies. Most of this came through the Federal Land Banks and the Land Bank Commissioner, and small amount was distributed by the intermediate credit banks, production credit as sociations, regional agricultural credit corporations and the emer- gency crop loan division.
 ,, R. F. c. Assistance
 What the Farm Credit Adminis- tration has done to relieve the financial distress of agriculture, the Reconstruction Finance cor poration has done to aid banks, railroads, and business and indus try generally. Connecticut has shared in the millions of dollars distributed by this organization, and under the new and more lib- eral provisions for industrial loans, will have greater opportunities to benefit in the future than in the past.
 Total loans made by the Recon struction Finance corporation to banks and trust companies in Con- necticut up to August g, 1884, were $16,927,217.73, which includes a loan of $260,000 to a receiver of a closed bank. Total loans made to closed banks in Connec- ticut were $1,S10,000, which is small in comparison with other sections of the country, and indi- cates Connecticut's ability to meet the banking situation without call ing for so much federal financing.
 Connecticut also benefited from other loans extended by the Re- construction Finance Corporation during the same period, including $1,675,000 advanced to Mortgage Loan Associations, $1,007,000 to railroads with head offices in Con- necticut, and approximately a half million dollars to building and loan associations in the state. In addition, the R. F. c. has invested in subscriptions for preferred stocks of banks and trust com panies in Conencticut $7,670,00O, and has made loans of $309,S00 on such stock.
 Reconstruction Finance Corpor- ation loans also provide another idex to the growth of prosperity. Of the many millions loaned to in dustries, banks, railroads and other institutions, since the corporation was formed, approximately 45 per cent has been returned by the bor- rowers. This certainly shows their increased earnings and ability to pay back money they found so desperately necessary when the depression was underway.
 About the Cost of Recovery
 All of the progress which we are making under the New Deal is costing something. We could not expect to win the war of de- pression without ammunition, and like any war the ammunition is costly. But who is there to say that it was wise for use to spend billions to fight World War which destroyed lives and property. and unwise to spend to fight war of depression at home? We can- not spend our way to prosperity, and are not attemptig to do so. Under the New Deal every dollar is being driven like wedge into some well-defined program to stimulate our industrial, business and financial status, to increase employment. and to improve our social conditions. Could our dol- lars be invested in a more desir- able way?
 Recovery Definite
 When one carefully analyses the situation he will find that recov- cry Is paying its way, and that the tax burden, of which we hear so much grumbling from the republi- can side, is not excessive. More- over, 1t Is being offset by prac- tical and social gains, which has made the average man much bet deals in the last session of the Gen. eral Assembly, voting with the re- publican minority.
 Unverified accountings said VII liam E. Thons. Waterbury. was be- ing considered to replace Cross.
 Thoms said he was not candf- dafa shfff I will accenf if they want