Milford chronicle., 1938-12-30
WASHINGTON
NEWS LETTER
From
CONGRESSMAN WIN. F. ALLEN

WISH TO TAKE this opportunity
of wishing all my friends a Merry
Christmas and happy and prosper
Gus New Year.
FSCC TO BUY ORANGES The
Federal Surplus Commodities Cor
pOratiOn has been authorized to buy
surplus oranges under a program de-
signed to remove excessive supplies.
The oranges bought will be turned
over to state relief agencies for dis
tribution TO needy families. The pro-
gram will supplement efforts being
made by the citrus industry itself to
meet the acute marketing and distri-
button problems of the present sea-
sons big crops. The citrus distribu-
ton will be made as an addition to
food supplies. The purchase of oran-
ges. as well as grapefruit will be
made in areas where surpluses
threaten to glut markets and depress
prices paid to growers.
o.
FEDERAL HOUSING-The action
Of President Roosevelt in authorizing
the Federal Housing Administration
to insure an additional $1,000. 900, 900
in home mortgages means the resi-
Dental construction industry can
count upon a continuation of the
financing facilities that have contri-
buted so effectively to the revival of
building activity since last spring.
Largely as a consequence of the lib
eralized FHA program put into effect
last February, 1888 will be the most
home building year since /
1929, and with an extension of pres !
ent financing facilities assured, next /
year should show still further gains. +
President Roosevelt acted under Sec i
lion 203 (a) of the amended National |
Housing Act which provides that the /
aggregate amount of principal Obli- .
cations of all mortgages insured and .
at any one time may not
exceed $4,000. .00O, 900, except that
with the approval of the President
iuch aggregate amount may be in
:reased to- not to exceed $4,000. .0OO,-
no." Notwithstanding the gains in
lone construction registered this
ear. decent housing facilities in the
!. S. are still grossly inadequate.
o
SAVINGS AND LOAN ASS'NS.-
are saving more money
through the facilities of federal saw
ngs and loan associations. Invest
lents in federal associations in
reased by more than 1920 in October
yer September. A total of S21, $780,
90 was placed in these thrift and
ome-financing institutions during
october as compared with S17 ,423, 200
] September, an increase of $3,S97,-
90. In most sections of the country
lvestOrs' funds flowing into savings
nd loan associations are providing
mple money for loans on homes.
I the same time the total assets of I
$40 federal associations. charters
D. which were authorized by Con-
ress about four years ago, have S
cached the sum of S1.242.910.10 I
heir resources grew by $17.964.5OO !
I October.
AGRICULTURAL PROBLEM.-In
he U. S., where farm-prOduction
over greatly exceeds the purchas- {
ig power and with some crops the
eeds of the domestic population. the
DjectiYes of the national agricultur-
policy differ profoundly from those
de1cit-agricultural countries. A
hose first necessity is an adequate I
cd supply. Here the problem is \
.OnOmic more than technical; a v
'Oblem of marketing rather than of d
.ficient production. Our main prob /,
m is to prevent surpluses from n
,ating down prices and maintain a g
tisfactory balance between pro- p
lciion on farms and production in /,
ctOries. ii