The Daily Alaska empire., 1936-02-18

spending described this literature as of astronomical proportions during the Roosevelt administration and ignored unworthy of mention during any portion of the Hoover holocaust?
 The public debt reached it's postwar low point on December 31 193O at which time the gross was S16- 026 O87087. Deducting the general fund balance Of $3O6 803319 then in the Treasury left the net debt $15,719 ,283. .768.
 Twenty-six months later, on March 3 1888 the gross debt had increased to 293 MT Mills the Secretary of the Treasury left the cash box $158527671 about enough to finance the government for fortnight deduction of which left the net public debt that date at $20,779 295, ,622.
 Hence the increase in the public debt during the last 26 months of the Hoover administration was s5 06O S54
 It is proper and enlighening. compare this item
 which is scrupulously omitted in the luxury propa ganda-wth the record under President Roosevelt.
 In making the comparison do not limit it to 26 months of Roosevelt but to the entire thirtyfouI and half months of his administration up to and including January IS 1886. That period includes the sale of 500 millions ol bonds in December 1855 which issue was several Jimes over-subscribed, notwith- standing the uprecented low of interest and the omnibus warnings of Messrs Mills ct al that the of fering would fail dismally" That incidentally was precisely what did happen to MT Melons last offer of the same amount and it was withdrawn
 The gross national debt on January IS 1886 stood at $3O521 34S639 at which time there cash balance of $2O97827147, leaving the debt on that date at S28423521 491 Meanwhile the recoverable assets of the Federal Government-se loans and tempor- ary advances to self iquidating government lending agencies --increased from two billions under Hoover to than s4 800 100000 Therefore the total labi ity of the government reduced to around 0O0 GOO and that is $l 100000 less than the war time peak debt in 1919
 However, disregarding that permissible deduction, which would include the REC loans secured by gilt edge collateral such preferred bank stock and re- verng to the figure of $28423 521 491 the increase in the public debt the period of thirty and one half months, from March g. 1883 to January 18 1886 was $7644225,869 compared with the increase over the period of only twentysix months from De- cember 31, 193O to March B. 1933 of $5O6OO1l 854
 Tn other words while business conditions were constantly growing during the final twenty-sx months of the Hoover administration banks were folding up foreclosures on homes factories and farms were proceeding on an unprecedented scale and noth- ing was being done by the government to attempt to stem the tide of economic destruction and human mis- cry the net national debt increasing at the rate of 195 million dollars per month
 During the thrty-four and one half months of the Roosevelt administration at the end of which business IS better than at any time in nearly six years and during which more than a million urban homes and million farms saved from foreclosure agriculture rescued from ruin factory payros increased 122 millions per week and gain of more than 22 billion dollars year in the national meome-the increase in the national debt at the of 221 million dollars per month
 And now that government revenues are constantly increasing along with the steady, sustained gains in business activity and the cost of carrying the present debt is quarter of billion year less than during the of Mellon Mills Hoover control the question naturally arises
 Has the 221 millions a month average spending un- der Roosevelt, which has apered off in months been more beneficial to the people and the business of the country than the l95 millions month average under Hoover? In short is the Roosevelt adminstra
 on worth more to the public welfare than the sort of government to which the Old Guard insists we must return?