Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1936-05-14
ROOSEyELT'S PHILOSOPHY

Reappraising the business outlook
leads 10 the conviction that the up
ward trerd will continue through the
year, with the possible exception of a
slight setback in the late summer. Sew
eral question marks arise as new fac
tors appear. One is the threat of re-
newed drouth damage in the West,
which will impair farm buying power
if it becomes serious. Another factor
is the general belief that the gold
standard currencies of Europe are TO
undergo adjustment. While this would
be considered favorable in the long
run, there may be present complica-
tons. While corporation profits for the
first quarter of this year were about
30 per cent above last year, the new
tax measure causes some corporation
managers concern and in some cases
profits being reduced by renewed
competition, which was, to some ex-
tent, held down by the old MIRA.
Organized Labor, through the A. F.
Of L., is conducting a strong campaign
for the Wagner Housing bill. This
would aid the building of residences
in two ways. First, it provides for a
grant of As per cent for the cost OF
low-rent housing projects and loans
at cost with the balance repayable in
60 years. Then it offers loans to COOP
erative groups, repayable in go years
but without any direct subsidy. The
purpose is to secure low rents for d
section Of the population that has not
been adequately housed by private
enterprise. Appropriations of 1926 ,000,-
900 would be authorized over a four
year period and a housing authority
would be set up with the power to
borrow from the RFC and from pri-
vate sources. Various devices are in
Guided to protect low-rent character
and to prevent competition with build
ing operations carried on for private
profit. President William Green thinks
that the Wagner bill will do much to
revive the building industry.
49,
The Republican Party committee or
arrangements will not meet again un-
til June 2nd, the week before the con
vention, but it has nominated Repre-
sentative Smell of New York for per-
manent chairman and Senator Freder-
ick Steiwer of Oregon for temporary
chairman and keynoter. Meanwhile
it may be taken for granted that eff
forts will be made to reach an agree
ment among party leaders upon issue:
to be stressed and there will be con-
siderable ~jockeying among the candi-
dates. Senator Steiwer is something o
a dark horse himself but at this time
Governor Landon continues to hole
his lead with the other ~contenders in
clined to head him off if possible. Sen
ator Borah remains a puzzle to tbs
party managers and continues to en-
phasize his intention to look over" th'
platform and the candidates.
The United States is keeping VI
with the worldwide trend TOWARD
preparedness. The Army and Navy
will receive around S5~50,000,0O0 each
Moreover, the apparent trend is to.
ward increased aircraft. The Army will
get SOS new planes and the Navy 49,
under tentative plans. In addition, Ad.
miral William H. Standley urges tina
two replacement battleships be auth
orized in order to secure a treaty
strength" Navy by 1912. Presiden
Roosevelt is on record in favor of eff
fcient and adequate national defens.
and what he means by these terms cal