Evening star., 1944-05-24
Defender of HOLC Replies

To the Editor Of The Star.
I would like to comment on a letter
from a representative of building and
loan association, published in The Star
of May IL, in which he criticized a
recent column by Lowell Mellett on the
proposal to compel immediate sale Of
the mortgages held by the Home
Owners Loan Corp.
feel that this letter not only mis-
interprets Mr.. Melletts remarks but care
fully sidesteps the main point OF the
question.
To me the issue appears simply this:
Should the HOLC be allowed to con-
tinue its normal program of collections
and liquidation or should 1t be forced
to auction its assets at once, causing
huge losses for the Government and the
exclusive benefits for a group Of lenders?
The HOLC has reported that con-
tinuance of its course, as laid out under
the law, may result in q slight profit
to the Treasury, instead Of q loss. So
far as I am aware, even the lobbying
interests do not claim that quick hqui-
dation, such as your correspondent de-
mands, could possibly avoid large losses
to the taxpayers.
The writer apparently doubts that the
HOLC saved great number Of homes
from seizure during the early sos.
Perhaps he also questions whether q
depression really existed at that time.
He makes a case for the worthwhile
services of building and loan associ-
ations. Every one knows that these
institutions render valuable services to
their communities; so do banks, insur-
ance companies, dry goods stores, news
papers and other businesses.
AS an investor in savings and loan
associations in the District Of Columbia,
am sure that he does not speak for the
ordinary citizens who make up their
membership lists. They are thrifty,
self-reliant people as a rule. Savings
and loan and similar associations have
made tremendous strides in the past few
years. They are in strong condition
financially.
They are not holding their hands out
for any subsidy. J.C,A.
Manchuria Not "Manchukuo"
To the Editor of The Star:
From time to time there appear arti-
cles In your paper relative to the Far
East in which either the text or the
photographic illustrations make use of
the Japanese terminology for Man.
churia, viz. "Manchukuo." In this con-
nectlon see particularly article written
by James d. White for your Sunday,
May 7, issue. Mr. White carefully uses
the term "Manchuria" while your
photographer labels his map "Manchu-
kuo."
The various references to the puppet
state of Manchukuo cannot fail to be
just as comforting to our enemies as If
you were to use the phrase Greater
East Asia Co-Prosperity Sphere" with
out the quotes. Do you not recall that
aside from the Axis, Axis satellites, and
the Vatican, only Ell Salvador has re-
cognized the 'puppet state of Manchu-
kuo?" Ell Salvador later expiated her
lll-considered action by withdrawing
recognition (January %, 1943).
1t is recognized that not only The
Star but the press in general, as well as
many periodicals., are careless in the
use of the word 'Manchukuo The word
is even to be found in few official pub
lications. The Star, however located at
the seat of this Government, never
should lose the opportunity of calling
the Chinese three Eastern provinces
by the commonly accepted name of
Manchuria. 1t is called by our enemies
"Manchukuo'
RICHARD j. RIDDEII.
Lieutenant Colonel, Infantry.
Editors Note: In relation to this
communication, readers are invited
to refer to the editorial "World
/ Words" printed May 1s.)