The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1950-03-16

the Administrations middle IN
come housing" bill by the power
| full House Rules Committee was de-
Iliberately blocked March Z when
the southern Democratic Republi-
can coalition blocked a vote by
walking out and breaking a
quorum.
The Committee, after two full
lays of hearings, was ready to vote
and report the bill to the House.
Rep. Eugene Cox Cd, Ga.) said
there was no quorum. A count
showed there was-six Democrats
and one Republican.
Cox turned and quickly walked
out. Chairman SABBATH Cd, lll.) had
been working his staff hard all
afternoon to rally a quorum and
had finally mustered every mem
Der in the city except Rep. Clar-
ence OR, o., and Rep. Howard
Smith Cd, Va.), who were appar-
emily staying away deliberately.
The only Republican at the ses-
sion was Rep. Leo Allen Or, lll.).
When Cox walked out, the commit
tee started to vote, but Allen made
the point of no quorum and the
meeting had to break up.
Chairman Adolph SABBATH Cd,
Ill., Immediately called another
executive session for the next
morning-but whether he would
get a quorum was problematical.
The final day of the hearings
started off with the usual rough
house debate between witnesses
and the committee members. The
Rules committee is VIGOROUSLY the
most ill-ordered and most political
committee in Congress.
A series of Republicans appear
ed in opposition to the bill, led by
Rep. Henry Tale Oowa). He com
planned the bilPs low interest rate
for cooperative housing would
amount to a subsidy. Rep. Clarence
Iilburn, of New York, said that if
he bill passed the government
night as well take over all hous-
ing.
Rep. Nicholson, Massachusetts,
complained the bill would put the
government in competition with
private business. He said banks
once got four to five per cent in
terest on housing loans and were
now getting only l13 per cent and
that the bill was unfair to invest |
ors. Asked how much insurance
companies had invested in housing
Nicholson estimated $50,0O0,000,-
OOO. He was corrected by Rep. |
Frank Buchanan, a Democratic
of the bill, who said the
figure was $5,000,000,00O.
Another Republican, Rep. Cole |
of Kansas, made the same objection
about competition with private bus
mess and private investors. He said
savings and loans associations had
in yes d $1l 900, ,000,000,0C0 in
housing, and that their investments
would be deprecated in value. Hell
also contended the bill would
'reate initiation and hurt the very
people it was supposed to help.
SABBATH asked Cole if he wanted
% go back to Housing loans at six
'r eight per cent. Cole replied that
he interest rate made no differ
'nce, if you had initiation. II
Rep. Madden Cd, Ind.) remarked
ne had inspected housing in his
district and found none priced at
ess than $4,000, with most of the
new houses priced at $l5,0C0 anC
100000.
Buchanan and Rep. O'Hara Cd,
H. led the rebuttal for the pro-
'onents of the legislation. They did
IN able job and seemed to have
old Cox on the bill, until the show
Iown on quorum.
Buchanan replied to the pro
ests over the long repayment per
cd provided in the bill for cooper
tives by citing present FHA leg
station which permits mortgages
# any period approved by the !
Igency. He said some of them ran d
o 40 and so years. He said the rate t
# interest would be determined byl!