The Waterbury Democrat., 1938-02-10

The financing program, for the present, provides for the borrowing of $2O0, 100000 to $500, 900 through weekly bill offerings of $50,000,000 each. These offerings will begin Feb. 28.
 Wages Must Stay Up
 Mir. Roosevelt undertook to check that tendency with statement threatening resumed pump priming expenditure if necessary to create purchasing power. He made his statement in reply to Benjamin F. Fairless of U. s. Steel that prices could not be reduced without cutting wages. The president replied that wages should be maintained but that prices should come down. Assistant Secretary of Commerce Ernest G. Draper said there was no way of determining whether reces- sion lows have been reached but re- ported hopeful sign" that indus trial production was continuing along December levels, although ap- proximately 30 points below last summers high. Federal reserve board indices showed department store sales one point higher in Janu- ary than in December.
 Congressional conferees revealed yesterday after leaving the White House that MT. Roosevelt had deter mined to ask for more relief money. Their estimates ranged up to $300,- 100000, but the best information seemed to be that the president would ask for $50,000,0OO less than that figure.
 Text of Letter Washington, Feb. 10.-(UP) Fol- lowing is the text of President RooSevclt's letter to the speaker of the house on the subject of ad- ditional relief funds:
 ''The Speaker of the House of Rep
 resentatives:
 Sir:
 T have the honor to submit here with for your consideration a sup plemental estimate Of appropriation of $250, 0,0O0,00O for relief of the un- employed.
 Emergency and work relief: To continue to provide relief and work relief as authorized in the emer- gency relief appropriation act of 1887, and subject to all the pro- visions thereof, $250,00O,O00, which amount shall be added to, and pro- portionately increase the specified amounts of the limitations prescrib- ed under the appropriation made in such act (50 Stat. 352).
 According to the best estimate available at this time it appears that, during the past three months, ap- proximately 3,000000 persons have lost their jobs with private employ CTS. This increase in unemployment could not, of course, have been for seen at the time the last relief ap- propriatiCn was under consideration. Hundred of thousands of needy un- employed persons have recently ap- piled for relief work which could not be provided for them with the funds on hand. It has become in- creasingly clear that these needs cannot be met unless employment by the works progress administration is increased immediately.
 LIN dtoA4obAO Od11s T. 1888, would permit employment of an average of only 100000 persons for six months ending June 30, 1888. The number of persons on the works progress administration rolls today is 1,950,000 Funds available at this time will not only take care of the additional burden caused by the re- cent increase in unemployment but will require a sharp reduction in the near future of the number of works progress administration rolls. This estimate of $250,00OO00 will permit the continued employment for the next five months of the number now on such rolls, and will provide a reasonable measure fo re- lief for those who have recently become unemployed and are in need"