Evening star., 1939-07-31

Republicans made a determined
Senate effort today to slash from
500 000,000 to $2500O,0O0 an au-
thorization proposed in the lending
bill for the Export-1mport Bank.
With the adjournment-bent Sem
ate moving slowly toward a final
vote on the $3.50 900 900 measure,
Senator Taft, Republican, of Ohio
offered an amendment to cut the
banks authorization.
He quoted Jesse H. Jones, the Fed
eral loan administrator, as saying
that the bank would not need more
than $l25 0OO. 900 in order to make
all desirable loans. The institution,
which aids in financing the sale of
American products abroad, pre-
viously has received a $1OO 900 900
authorization and the lending bill
would raise the total to 5000 900 900.
Senator Taft was supported by
Senators Vandenberg, Republican, OF
Michigan; Danaher, Republican. Of
Connecticut. and Tydings, Democrat,
of Maryland.
Adjournment Uncertain.
Before submitting his Export-1m-
port Bank amendment, Senator
Taft obtained adoption of a proposal
to require that all loans made for
public works be approved by Mr..
Jones. The measure authorizes
$3.50 900 900 of public works ad-
vances.
Speaker Bankhead told his press
conference meanwhile that the date
when Congress quits for this session
is still conjectural."
The Speaker said he favored "con-
sideration and passage of both the
housing and lending bills but 1
don't know what's going to happen
in the House"
1t was reported the House would
start considering the lending bill
tomorrow if leaders could obtain
Rules Committee meeting for late
today to clear the way for it.
Speaker Bankhead and Majority
Leader Rayburn of Texas originally
had planned to call up the $780,
100000 housing bill tomorrow, but
1t was learned that measure would
be shunted aside. at least Tempo
rarily, if the lending program was
ready for the floor.
Housing Bill May Be Caught.
There were indications that the
housing measure might be caught
in the last-minute adjournment
rush and be sidetracked until next
session. A strong city bloc was de-
manding that it be called up, but
other Democrats, like Republicans,
expressed doubt that the House
would approve it.
During the Senate debate, Major
ity Leader Barkley, Democrat. of
Kentucky, author of the lending
measure, urged acceptance of the
full $l00, 900 900 increase for the Ex-
port-Import Bank. He said it had
made sound investments" had
promoted trade abroad" and had
loaned largely to American ex-
porters.
He reported that Mr.. Jones ad-
vised him yesterday the full $780,
00O, 900 increase was needed
Certainly the Senate does not
wish to eliminate this instrument
for the expansion of foreign trade"
Senator Barkley asserted.
Senator Taft said he thought it
was perfectly clear" that the in
creased lending authority would be
used to make advances to foreign
governments. He said commitments
already had been made to Brazil,
Nicaragua, Paraguay, Uruguay,
Haiti, China and the Portuguese
railway.
Called dollar Diplomacy"
IF anything can be called dollar
diplomacy this is it," Senator Taft
asserted. IF the only way we can
get the good will of these nations
is by paying out gold, that is dollar
diplomacy. In return for the loans
we will get some pieces of paper. no
good will and no permanent politi-
cal advantage"
Both the Senate and the House
Banking Committee punched big
holes in the lending bill last week,
but Senator Barkley and Speaker
Bankhead have insisted they saw no
reason to drop the battle for its
enactment in some form.
After Mr.. Roosevelt's return to the
White House today from a week
end fishing trip, the Senate and
House leaders were expected to re-
port they would stand behind him
(See T,ENDINC pooo A-1o0-