The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-12
GOVERNMENTS
ACTIVITIES IN
BUSINESS HIT
ABA Head Says President
Assured Last ConCIaVe
of CurtaiIment.

Itmes Spccidl
NEW ORLEANS Nov. 12.-Imme-
date steps 10 take The Federal gov
eminent out of the many fields of
business activity in which it has be-
come engaged were urged by Ru-
dolph S Hecht Chairman of the
Board, Hibernia National Bank, New
Orleans, in his address as President
Of the American Bankers Associa-
ton at the opening general session
OF the associations siXty-frst an
nual convention here today.
Mr.. Hecht declared that the emer-
gency which brought about the gov
ernments business activities is pass
ing and referred to assurances given
by President Roosevelt at the last
bankers association convention that
ne favored the curtailment of activ-
lty by the governments financial
agencies as fast as the banking in
situations of the country could dem
onStrate their willingness and ability
TO resume their normal functions.
i fear he said, that there are
IN the Presidents encourage in
Washington many who do not share
these views he has so recently reit-
Grated, and who not only believe
that the operations of these gov
eminent agencies should be made
permanent, but that they should in
fact be considerably expanded. On
the other hand, I believe that, re-
CARELESS Of political affiliations.
bankers throughout the country are
opposed to any Specialization of our
economic life. They share the con-
Vlctlon that we must put up
strong fight against this tendency
toward increased government con-
troll of banking and credit, and they
think we are justified in taking the
President at his word and in aiding
and encouraging him in every way
to withdraw government from bust
ness as rapidly as the improving
times will permit"
Federal Employees Increase
Calling attention to the fact that
the number Of Federal executive de-
partment employees rose from $50 900
n July, 1888, to $4,000 in May, 1885.
that there are in all Federal serv-
ices 1,438,000 persons and that some
100000 persons are on the various
Federal relief roles, Mr.. Hecht de-
clared it becomes a Herculean task
for the Administration to reverse
its policies and reduce the numbers
now carried on the Federal pay
rolls.
Clearly" he said "it will take
a Well-informed and widespread
public opinion to remedy this sta
ton. 1t will require the removal of
all barriers to the restoration of
business to full normal health to
again absorb these and millions of
others now employed.
Cite Public Debt
Il do not for moment condemn
or criticize the stated detectives of
these governmental activities. but
after all these activities are pallia-
tiveS and not real remedies which
could effec5 a cure. Accordingly
they should not be used on a perma-
nent basis lest they become a drug,
but should be done away with grad
ually now that the patient is def
nltely on the road to recovery"
Mr.. Hecht declared it is a mistake
to permit the public to believe we
can go on spending from the Fed
eral Treasury indefinitely. Citing
the amount of the present debt of %
billions, with contingent liabilities of
6 more billions, he asserted the time
had come to realize that govern
ment expenditures must be met by
means other than further increases
IN the national debt. In a few
more years he said, even this rich
nation can reach the point where
the size of its government debt may
become a serious problem"
He expressed the belief that the
public generally has returned to a
spirit of confidence in the banking
system and has a better under
standing of the problems Of banks.