Indianapolis Times, Volume 44, Number 26, Indianapolis, Marion County, 10 June 1932 — Page 3

JUNE 10, 1932

WAGNER SEES I HOPE FOR END OF DEPRESSION ~ j Cites Government's Duty to Campaign tor Good Times. Senator F,obert T. Wagner. Democrat, of Nri York, has written tor the United Press th following article on unemployment relief . . Senator Wagner was one of the first In congress to urge federal aid to combat the distress caused by the depression. BY ROBERT F. WAGNER (Written for the United Press) WASHINGTON. June 10. A bright ray of hope has begun to illumine the otherwise somber scene of present conditions. There is real; hope and encouragement in the fact that at last the administration has become converted to the belief that the depression must no longer be allowed to take its natural course. There is today fairly general agreement that the government ; must take the initiative and exert its efforts to check the depression. The delay has, of course, been costly- It has not made recovery impossible. The acceptance of this policy, which I have been urging for years Is vital. It is the first step on the road to recovery. Have Ample Funds Today prices are still looking down; employment, is decreasing; j production is declining. At the j same time we know beyond a shadow of a doubt that we have Ample funds to finance the resumption of employment and the revival of trade. Witness as evidence of that the fact that, in the month of May alone $5,278,000,000 worth of subscriptions were received for $695,000,000 worth of federal securities and that, the interest rate paid upon the last issue of short term treasury bills was only twenty-nine hundredths of one per cent. Private business is marking time, waiting for the demand to develop before it resumes its activities. Such demand for commodities can not originate, however, as long as hundreds of thousands are in destitution and millions of families are without wages. This impasse, in my judgment, can be broken by a program of national investment in enterprises which are useful and necessary and affected with the public interestSuch a program will create a demand for commodities and thereby help check further price decline. It will create a demand for labor and thus put purchasing power in the hands of those who need it most urgently and will use it most completely. Program Must Be Large The purchasing power thereby released will repeat its trade-reviving and employment-civing function in every branch of agriculture and industry. Only then will business make use of the credit which previous legislation and the policies of the federal reserve system have made available. The legislation I have introduced on this subject meets these requirements. It embraces an outlay of about $2,300,000,000, of which $2,000,000,000 is to go into construction j and $300,000,000 into relief of desti- j tution. Through the reconstruction I Finance corporation a billion and a j half dollars will be made available for the construction of projects by j the states, municipalities and by public corporations upon income ; producing, self-supporting enter- j priseS devoted to the public use, j such as bridges, tunnels, docks and waterworks. Five hundred million dollars is to be made available to the federal government through a bond issue for the construction of previously i authorized and planned, carefully selected, necessary permanent improvements- l

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Wrist Slaps MT. RANIER. Md.. June 10. —Because its policemen have to sleep at night, this town is attempting to deal with disorderly elements by writing them letters. Complaints of disorders,were received by the town council. Mayor John H. Beall suggested the police handle the situation. Then it developed that all the members of the night police force held other jobs in the daytime and couldn’t stay out very late night. In the end, the council decided to send letters of complaint to proprietors of the places where the disorderly conduct was reported.

The Sallyette ShopOFFERS AN OUTSTANDING lu f~J VALUE ON ViVTO A Friday and Saturday EVENT: a perforations, for dress or street. Values Here is a white kid, open mesh latest vogues. Values These white SanThev feel so ifr - oO<i - They look o smart they'll SR ' n iue* dm $P| ’tSB Sizes ■UMfifeiM AAA to FULL-FASHIONED CHIFFON HOSECQc All the Wanted ||„| Shades \ fkS~' u SHOE DEPT * 34 w. WASHINGTON ST.

KIDNAP, ROB OFFICIAL Bandits Get $4,000 From Illinois Vault. Bil Unitrtf Prmt ROCK ISLAND, HI., June 10.— Bandits abducted Treasurer E. Clifford Hall of Rock Island county from his home in Moline today, brought him to the courthouse here, compelled him to open the vault in the treasurer's office and rifled it of $4,000, j The three robbers broke into the Hall home at 3 a. m. and terrorized the family. They bound and gagged Mrs. Hall and Hall's brother, and left one of their number to stand guard over them.

THE INDIANAPOLIS TIMES

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