Evening star., 1936-05-30
CERTIFICATE PLAN
PROPOSED TOGVE
Jobs TO D. c. IDLE
Representative GreenWay
for Test Here of ST Bond
Financing.
2.CENT SPECIAL STAMP
EACH WEEK FEATURE
Cooperation of Private Empoy-
ers Assured as Matter Is Re.
ferred to House Group.
BY JAMES E. CHM.

Jhp1LS S1A4NANs
The House District Committee to-
day was given the problem of deter
mining the merits of novel plan
proposed by Representative Green
way, Democrat, of Arizona to relieve
Washington's unemployment situation
in painless way
Mrs. Greenway'S plan, which. in
effect, involves renting a dollar"
for 2 cents a week, Is embodied in
a joint resolution she introduced late
yesterday. 1t was Immediately re-
ferred to the District Committee for
consideration and report.
Basically, the plan proposes that
private industry absorb the unem-
ployed and pay them with "anticipa-
tory revenue certificates" issued by
the District government in denomina-
tionS Of 81 each. Each week q 2.
cent revenue stamp would have to be
placed on the certificate to keep it in
circulation. The certificates, unlike
script, would be redeemed at the end
of So weeks in United States cur
rency. Merchants participating in
the plan would honor the certificates
at face value.
The 81 certificates, collecting two
cent revenue stamp each week, at
the end of SO weeks, the redeemable
period, would yield $1.06. OF that
amount, 81 would be deposited in a
redemption fund to amortize the GER
tifcates. The remaining cents
would 60 into a fund to cover the
cost of administration.
Endorsed BY Employers.
Success of the plan, according to
Mrs. Greenway, depends on the Co
operation of private employers. She
said she had discussed the proposal
with a number Of private employers
In the District, who indorsed it en-.
Enthusiastically and promised. to CO.
operate in putting it into execution.
The proposal has been before the
Merchants and Manufacturers Asso-
citation for some time, but no action
has been taken on 1t.
At the same time it has been con-
sidered by individual members of the
Board of Trade, but the board, as an
organization, has not officially con-
sidered it.
Mrs. Greenway explained that the
least business that can be done with
a 81 certificate under her plan is $50,
because of the practical necessity of
turning 1t over once each week.
Her idea is to make Washington a
sort of testing laboratory" for the
experiment and expressed the belief
that if it works out successfully here
It may eventually solve the Nations
unemployment problem.
Mrs Greenway insists the issuance
of the "anticipatory revenue certi-
ficates" would not constitute imitation.
On the contrary, she explained, the
plan Is essentially the same and ba-
sically more certain and sound than
. bond issue.
"A bond issue is spent today and
ito be repaid over 20 or 80 years at
heavy interest charges" she declared,
''while this proposed anticipatory reve-
nue. issue would create new business
and redeem itself through the business
1t creates in one year and with in
terest charges"
Explains Working.
Succinctly, the plan, Mrs. Greenway
pointed out, would work in about the
following manner:
An employer would agree to hire
one or more additional men or women
who are unemployed and pay them In
certificates of 81 denomination in
stead of in currency. The certificates
would be issued under strict regula-
tions of the Commissioners or their
agent without cost to the employer.