The Waterbury Democrat., 1935-08-24
.elv Deal Program,
 Wins In Congress
(Continued from Page 1)

pm rage ID
 result of the supreme court de- cision declaring 1t invalid. What Was Done
 Washington, Aug. 24.- (UP)- Here is Q summary of the major acts of the 74th congress in first session:
 Social security act-provfdes im- mediate federal contributions to as- sist the states in pensioning the needy aged; established a. perman- ent federal old.age annuity system under which 25,000,000 workers and their employers will be taxed in 1927 and in return will be paid $10 to $S5 month when they are 65; establishes fed- eral-state unemployment insurance systems; provides federal contribu. tions to the states for needy moth CTS and children, crippled children and the blind.
 Wagner Labor Act
 Wagner labor disputes act-at- tempts to guarantee to all workers within the scope of federal power the right to organise and bargain collectively through representatives of their own choosing; forbids em- ployers to interfere with these rights; sets up a federal labor rela- tions board, with quasi judicial powers, to enforce the act.
 Banking Measure
 Banking act of 1985--rcorganizes the federal reserve system, giving the administration much greater over 1t; centralizes con- trol over "open market operations" rediscout rates and other devices by which the reserve banks affect the flow of credit and money; provides for credit expansion by rediscount rules; con- tinues federal insurance of bank requires state banks with more than $1,000,000 to join the federal reserve system in order to have such insurance after July 1, l942.
 Relief Bill
 Relief -- Gave President Roose. welt $500, 100000 for direct relief and 5000. poo. 900 for work relief under which the present drive to create jobs for $500. 900 persons by Nov. l is being pushed by the gov- ernment.
 Taxes Levied
 Taxes - Levied new taxes esti. mated to yield $250, 100000 annual. ly, to be derived largely from high. CT income taxes on persons receiv. ing more than $50,000 a year; from higher taxes on estates left by the wealthy; and from higher taxes on the more profitable corporations.
 Income Tax Publicity Income tax publicity = Repealed last years pink slip" law which would have made personal income tax records subject to public in. spection.
 AAA Amendments
 AAA amendments-give congres. sional approval to processing tax rates and benefit payments to far mers in effort to protect legality of new deals crop control program; restrict suits for recovery of pro- cessing taxes restricted to those who can prove they did not pass tax burden onto consumers or far. mers; prohibit price-fixing except In the case of milk; continue bank. head cotton control act and Kerr Smith tobacco control act for an. other crop year; authorize control system for potatoes.
 IVA Amendments
 IVA amendments--give IVA spe- cific power, a point challenged in the courts; authorize a $50,000, 900 bond issue for IVA expansion; for bid IVA to buy whole existing pow er distribution systems, but author lze cities to borrow IVA funds to buy such systems.
 AirmaiI Measure
 Airmail Directed interstate commerce commission to investi- gate adequacy of present rates paid to airlines; meantime continued base pay of 33 Ia cents per mile.
 Bus And Truck
 Bus and Truck Regulation - Placed interstate bus and truck lines under interstate commerce commission regulation with respect to rates and safety measures.
 Railroad Bill
 Railroad Reorganization Sim plified procedure for reorganization ,f financially distressed lines, under [CC approval.
 Railroad Pensions
 Railroad Pensions-Provided for federal pensioning of railroad em- ployes at age e5 or after 30 years service. replacing last years pen- sion act which supreme court held invalid.
 Spanish War Vets
 Spanish War Veterans-Restored full pensions to these veterans at cost of $5.000. .000.a year.
 NRA Extensions
 MIRA Extension Continued a skeleton and virtually poweriess MIRA organizations until April 1. ts36.
 Baby Bonds
 Baby Bonds--Authorized sale of bonds to small inves- tors In denominations as low as s2S.