Evening star., 1938-06-26


confused about the affairs of the Treasurya campaign
which has been successfully deceitfuy carried
during the last five One is inclined to suspect
that New Deal misstatements fiscal matters
than congenital failing.
Hoover Increase Put at s44oo ooo 600
So first, let get figures correct. The national
debt in 1929 when Hoover entered ofce. approx
mately 900 900 1t was $2l 400 900 when
went Of Office March, 1888 Thus the debt under
Hoover increased s44oO 900 O0o which is $4,000 900 600
less than the figures given by Senator Barkey indicate
The debt in March. 1s33-when Roosevelt assumed
ofhce-was $2l. 400 900. 1t is approximately
s37 300 900 0OO Thus the debt far under Roosevelt
increased in round figures $4,000 600 000 But that Is
Tot the whole picture Under the Deal the Treasury
has guaranteed the interest and principal Of approx-
mately $,700 900 of securities issued by New Deal
seencies These called contingent liabilities of the
Treasury. They much part Of the national debt
Treasury securities So actually the national debt
under Roosevelt has been increased by than
$40 000, 600 900.
The heart of Senator Barkleys contention however
that OF the expended by the New Deal the Treasury
will be repaid $40 900 900 Treasury does not
claim that Senator Barkley his fumbling way
has taken figure which the Treasury claims the total
Of recoverable for all credit agencies and
getting the ridiculous figure of IS 600 900 the
increase.
Treasury Claims Sl,5 ,see, 600 Recoverable
Actually all the Treasury claims Of
recoverable slightly more than a 500 900 oo0
Thus looked At in the most favorable light through
eyes OF the Treasury the net increase in the debt
unuer HOOSeVelG II NJ least not
5000 oooo ooo as Senator Bsrkley says But what Is
$500 900 0O0 one way the other. to New Dealer!
OF course IS very doubtful that the Treasury will
ever salvage "a 900 600 Ooo anything like it. out of
loans the New Deal has made. For instance included in
those socalled assets SAT 600 900 owed the
railroads. many Of them already in recevershp with
others headed there II this administration lets
roads go through the wrnger it proposes do
does any in his right mind suppose that all
SAT-, 600 900 will be recovered?
Still another aspect Of the matter is that the New
Dool has la
fast they have been realized. As loans have been
repaid the Treasury for debt retire.
ment, but for current expenses including boOndogglng
projects Actually millions Of dollars loaned by the
r. F. c. during the Hoover days have been repaid and
spent by the New Deal. Thus q part increase
the debt under Hoover actually has spent beyond
recovery by the New Deal Yet by tricky bookkeeping
1t is charged to him.
Roosevelt Speech at Atlanta Cited.
The President. at Atlanta. Ga, in December 1895,
spoke about the nearly ~ billion dollars Of recoverable
period Of years, and get it back are going to
retire the national debt with It,"
OF course, the New Deal has not used such funds-or
for that matter funds-for retiring any part Of
national debt Senator Barkley only echoes his masters
voice. but in his zeal to be yes to the White
House. he more than doubles the figure named by the
President.
Dear Aben" in his speech said he was out Of SYM
pathy with those people who constantly harp on the
increasing debt We not surprised He never has
shown any sympathy for the and women who have
contributed toward paying for New Deal extravagances
through taxes the necessities of life Senator Barkley
apparently thinks who talks about debts
Il reactonary-an old fogey. New Dealers are above
such things!