The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-31

placed on wealthy individuals and
corporations.
3. The utility control act-giving
the government control over utilities
to the point where unnecessary hold
ing companies eventually may be
written out of existence, passed
after one of the bitterest Congress
sional fights of recent years.
4. The banking act-revamping
the Federal Reserve system so that
the Administration will have
larger degree of control and max
ing credit flow easier.
D. The neutrality act-a tentative
measure making mandatory en-
bargoes on shipment of war ma
terials to belligerent nations and de-
signed to keep the United States out
Of war.
6. The s4,88O,00O, 900 work relief
bill turning over to the President
broad authority to cope with the
unemployment problem, and de-
signed to provide sufficient relief
funds for two years.
7. The Wagner Labor relations act
called by organized labor it's
Magma Charta and giving a Federal
board sweeping powers over certain
industries to force collective bar
gaining rights.
8. The Guffey coal bill establish
ing Federal control over the long
Stagnant bituminous coal industry.
Relief Agencies Taxed
Passage of the $4,000, 900 900 work
relief program provided govern
mental relief agencies with their
greatest task.
Federal dole costs had mounted
to S5,000 000-a day by January, 1885,
with 2O,5OO,000 persons dependent on
the government for livelihood.
Secretary of the Interior Harold
l.. Ickes' $3,300,000O0O public works
program, designed to make jobs by
rejuvenating the heavy goods in
dustry, had failed to show employ
ment gains anticipated.
President Roosevelt turned to Re-
lief Administrator Harry L. Hopkins
to lift the New Deal out of the re-
llef dilemma. He gave him $4,000
100000 and instructions to end di-
rect relief by making work for $780,
00C needy.
Hopkins brought his jobs drive to
a peak on Dec. l. He liquidated the
Federal Emergency Relief Admins
tration on that date, announcing
all the nations employable needy
are working"
Labor Backs New Deal
During 1885 labor and the New
Deal cemented their friendship with
passage of legislation long advocated
by organized labor and with a grow
ing spirit of cooperation.
John L. Lewis, president of the
United Mine Workers of America.
was especially close to the White
House. At the request of President
Roosevelt he thrice postponed
scheduled strikes of bituminous coal
miners on promises of support for
the Guffey bill.
Inc greatest internal dispute
within the American Federation of
Labor in half a century was eli
NAKED by the resignation of Lewis
as vice-president of the A. F. of
l.. and the formation of a commit
tee for industrial organization under
his leadership.
Administration financial policies
in 1885 were believed to have laid
the base for a possible widespread
credit imitation through swelling
bank deposits and mounting idle
funds of banks.
Continued heavy Federal spend
ing which carried the public debt
to another record high above 500
500 100000 as we'll as the govern
mentS huge gold and silver pur-
chaseS in the world markets pro-
vlded basis for possible credit ex-
pansion.
This problem, together with indi-
cations of new Congressional de-
mandS for monetary imitation and
payment of the S2,20O,OOO 900 SOL
der bonus, faced administration
fiscal authorities as they mapped
their 1886 program.
Debt Exceeds 80 Billion
Treasury financing during the
year resulted in a turnover of bill
lions of dollars. With government
expenditures continuing to exceed
outgo, it was necessary to borrow
approximately S2,000,0O0,000 in
new money.
These borrowings pushed h e
debt above $3O5O0,OOO,O0O. During
these borrowings the treasury also
refunded maturing obligations at
lower rates Of interest.
Along with these credit and
monetary policies, the treasury con-
tinued its financial aid for banks,
business, homes and farms, BY the
end of october wholly and partly
owned government agencies were
lending total of $8,317, 766,579.
The lives of 100000 American
farmers were affected by President
Roosevelt'S announcement this year
that agricultural adjustment would
become permanent.
This, he said, would involve
maintaining and increasing tn e
gains already made and broaden
ing present operations TO give
farmers greater incentives for con-
servation and efficient use of soil
resources.
Developing its program along the
lines of the Presidents announce
ment during the last half of 1885,
the AAA instituted the regional
approach, by which crop reduction
programs will be modified so as 10