The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1937-11-13
U.S.. Warns Japan To Cooperate To End War
NEW DEAL in RETREAT SAYS
M'NARY WHILE ROOSEVELT
PILES WORK ON CONGRESS
Housing Program Presi-
dents First Line Trench
in Fight on Recession
BY ARTHUR r. DeGREVE
United Press Staff Correspondent

BY ARTHUR F. DeGREVE
United Press Staff Correspondent
WASHINGTON, Nov. -. CUP
President Roosevelt yesterday
piled more work on the special
session OF congress which opens
Monday in his struggle to bolster
sagging business by maneuvering
billions of dollars of private cap
ital into trade channels to take up
the pump printing job which
the New Deal plans 10 abandon.
simultaneously, Senate Minority
Leader Charles n. McNary, of
Oregon, branded as a New Deal
retreat" Secretary of the Treas
ury Morgcnthau's announced plans
to curb government spending and
to balance the 1889 budget
without additional taxation. He
called upon Republicans to take
advantage Of the "retreat" by
presenting a progressive 'front.'
in the 1888 and 1910 elections.
Insisting that Morgenthau's New
York speech on Wednesday night
showed that the administration Is
weakening" on such theories as
heavy federal spending, McNary
blamed the current business recess
sion on the internal war in organ
lied labor and on uncertainties
confronting business"
81 don't believe business will
resume normal functioning until
assured that the rctrenchment
views expressed by Mr.. Morgen-
thau will take place and that the
president sincerely intends to bal
ance the budget and eSpouse safe
and sound legislation" McNary
declared.
The Orcgonian spoke after the
president said at a press confer
cnce that he hopes congress will
approve speedily legislation de-
signed to encourage private inter-
ests to initiate housing program
on a mass production scale. The
form this legislation will take is
still being studied.
The housing drive is Mr.. Roose-
vclt'S first line trench in the bat
tie against business recession. His
second weapon may be moulded
from conference with public
utility executives at the White
House next week.
1t was noted. however, that the
meeting was arranged after the
chief executive at his Tuesday
press conference outlined what
some utility executives regarded
as a new attitude by the New
Deal toward their industry.
The trouble is that Mr.. Roose-
welt and the utilities do not agree
on what constitutes fair and rea-
sonable rates.
The president said yesterday
that he presumed the utility ex-
ecutives desired to exchange views
with him on this issue in the con-
ference next week. lowering in
the background is the huge back
log of capital held by the utilities.
1t has been estimated that the in
dustry needs requirements costing
between $2,500,000,000 and S4,-
OOO,0O0,00O. Utility officials have
signifed their willingness to pour
these dollars into trade arteries
when and if the New Deal aban-
dino what they consider a hostile
attitude toward the industry.
The administrations secon d
weapon against the business slump
government economy-will re-
ceive the unanimous support of
Republicans in congress, McNary
said last night. But he sought to
make it plain that it will not be
another rubber stamp" congress.