Indianapolis Times, Indianapolis, Marion County, 15 April 1938 — Page 3

PAG

- Spend- Lend Program Launched; Policy Seen as Political Trump; Observers Note Temperate '1 Tone

39 Billion Doll: Dollar Credit] Expansion Seen as Possible.

(Continued from Page One)

the House Labor Committee with a recommendation that it be passed. 3. Renewed Congressional consideration of removing tax exemptions from future issues of Federal and state bonds, of making Government salaries from all sources subject to’ Federal and state income taxation, and of reorganizing Federal supervision of banking. 4. Development of a Congressional ‘movement to earmark new public works spending for specific projects rather than to sign a blank check “for the President. 5. Possible revival of 3000 approved and pending PWA projects which could be financed under the program as outlined.

Better Times Promised

Through the message and the chat ran a continuous plea for a united front—national co-operation —in the face of necessity. To workers, especially, Mr. Roosevelt promised better times. He said he was prepared to aid business with Federal .funds and expected the benefits to be shared up and down. To Mr. Roosevelt's estimate of $2,062,000,000 of direct expenditure and $950,000,000 of Treasury loans is added $1,500,000,000 of jusiauthorized RFC loans which Mr. Roosevelt included in his recovery program as outlined in yesterday's message. That completes the aggregate of a $4,512,000,000 lendingspending campaign. A total of $3,880,000,000 will be available for lending. It was estimated that each dollar injected into the credit structure will have a credit worth of $10, thus providing for a potential credit expansion in the new program of $39,000,000,000.

Spending Program Called Political Coup

By THOMAS L. STOKES “Times Special Writer

WASHINGTON, April 15.—President Roosevelt's mammoth omnibus spending program, aside from its recovery and inflationary objectives, was regarded today as a political coup of the first magnitude.

Mr. Roosevelt was believed to ne sure of regaining the support of numerous Senate and House insurgents by virtue of the school buildings, roads, sewers, CCC camps and flood-confrol projects which are sprinkled over his program thicker than poppy seed on Vienna rolls. Conservatives, girding their loins for a vigorous but futile battle, saw their potential strength diminish today as a new sort of telegraphic barrage began — telegrams from home urging support of the measure so that Jonesville could get that new _ sewer system. At least for the moment. the President seemed to be turnirig'the tide which has recently buffeted him in Congress. Beyond this poitical feature, keenest interest was aroused by the desterilization of some $1,400,000,000 worth of the Treasury's $12,800,000,~ 000 gold hoard sequestered at Ft. Knox, Kentucky. This move has a two-fold purpose. It is designed, first, to finance the spending program up to the value of the desterilized metal without the issuance of new bonds and without adding to the public debt; and, second, to give an inflationary lift by enlarging the already huge reservoirs of available bank credit. ' Potentially the inflation possibilities from desterilization are great, since the $1,400,000,000 will go into bank reserves. In addition, the Federal Reserve part of the credit program calls for creation of $750,000,000 more in excess reserves by reducing present reserve requirements and freeing that much additional credit. There is'now $1,700,000.000 in excess reserves, so the new grand total will be $3,850,000,000 Banks are already chock full of idle funds for investment, however, and interest rates are low, but there are few callers because of the scarcity of markets and the lack of incentive for business expansion.

LIMA LANDSLIDE KILLS 20

LIMA, Peru, April 15 (U., P.).— Twenty persons were killed in a landslide caused by heavy rains at the mining camp of Alto Cielo, according to persons arriving at Tirapata, in the department of Puno, from Inambari.

MOST PAPERS ARE CRITICAL OF ‘PUMP-PRIMING’

Roosevelt Drops Epithets, Denounces Bitterness Of Groups.

By RAYMOND CLAPPER Times Special Writer WASHINGTON, April 15.—The most striking thing about President Roosevelt's message to Congress on relief and recovery, and the popu-

‘Country to Grow No Richer,’ | larized version of it which he de-

N. o Times Says; Sun alls It It Superficial.

i: By United Press NEW YORK HERALD-TRIBUNE (Ind. Rep.) —It was a changed President. . . Here was, indeed, a defeated leader. . . . For real measures of recovery, the country must look to Congress for leadership. NEW YORK TIMES (Ind. Dem.) —The Roosevelt Administration has once more confused cause and effect. . . The country will grow no richer, ‘no matter how many I. O. U.s the Governmen? signs. WASHINGTON POST (Ind.)— The proposal is to ‘counter the present depression by the methods which were instrumental in creating it. Here is bankrupt statesmanship. WASHINGTON HERALD (Ind.) —This is a policy which the Washington Herald has advocated for many months on the basis that sterilization is hoarding and it is far better to own bricks and mortar or any other usstul property than idle gold.

CINCINNATI ENQUIRER (Ind).

—President Roosevelt's spendinglending program is compounded of several constructive proposals to assist business and a variety of reckless pump-priming measures based on a discredited theory of enforced business recovery. PHILADELPHIA RECORD (Ind.) —...Big as the figures in the President’s message may seem, taken in proportion to the wealth and resources of this nation they embrace a program which is, if anything, very restrained and a far cry from the wild pictures of runaway inflation already being hung on the front pages of the conservative press by those who are out to wreck Roosevelt even if it should mean wrecking the nation with him. . .. PHILADELPHIA LEDGER (Ind.). —The President is less than fair in dealing with the causes of the prevailing depression.

NEW YORK SUN (Ind.).—Spending billions in the hope of creating prosperity by contagion is a superficial proposal. PHILADELPHIA DAILY NEWS (Ind.).—. .. . If it does not work, all that has been prophesied will come true. If it works, and it may, we will end up in 1940 just about where Mr. Rocsevelt found us in 1932. ., .

PHILADELPHIA BULLETIN (Ind. Rep.) — The new Presidential program is after all the same old one. This calculation, the record shows, has gone astray. NEW YORK POST (Ind).—In one day the President has restored the confidence to the nation. Th= shackles of deflationary policy are off.

NEW YORK JOURNAL (Ind) — President Roosevelt has it now in his power to “move the nation forward” by calling off the slanderers of American industry and the fomenters of class warfare in his own official household.

SCHENECTADY UNION STAR (Ind. Rep.)—If the message of the President to Congress is less cocky than some of its predecessors it is because Mr. Roosevelt has come to recognize that we have on our hands a serious depression which he can not master single-handed.

BOSTON POST (Ind. Dem.)—The President’s message . , . sets the stage for a very large measure of inflation. . . If “pump priming” is the solution of our economic problems here we have the Wiimote in that line. MIAMI HERALD (Ind. Dem.)— It was a good, kindly and impressive talk. It solved nothing. It got nowhere. PHILADELPHIA INQUIRER (Ind.)—...The pump of industry doesn’t need priming. It is ready to go if the President and his Ad-

ministration will only cut loose the

tax and other chains with which they have been shackled. CHICAGO DAILY NEWS (Ind. — Two-billion-dollar expansion of bank credit, and five billions of new Federal spending and lending, including a billion and a quarter for Harry Hopkins to distribute, chiefly through big city political machines,

IN INDIANAPOLIS

Here Is the Traffic Record

County Deaths |Speeding ..... 5 (To Date) : 37 | Reckless

Driving ..... Hy

Running Preferential Street. .12

City Deaths (To Date)

Running Red

(April 14) Accidents Drunken

ciened OB

MEETINGS TODAY

Severrth District Federation of Clubs, meeting, Clay Ki Hotel, 10 a

m. lub, luncheon, * Hotel Wash-

Ly Optimist” Giub, luncheon, C noo

Reserve Officers’ Association, luncheon, Board of Trade, noo : lo appa. 8 Sigma, luncheon, Hotel Washingn, noo Salesmen’s Club, luncheon, Hotel Wash-

Ingin, noon. - : Delia Theta, luncheon, Canary Cotage, Betta T Tau Delta, luncheon, Columbia

Club, noon. be. Bia’ Theta Pi, luncheon, Town Tavern,

Columbia Club,

MEETINGS TOMORROW wilisace Francaise, luncheon, Hotel aac 1a. state banquet, Marott Hotel, 6

Ppa bda iy p2ibha, state dance, Columbia Club,

MARRIAGE LICENSES (These (ists are from official records in the County Court House. The Times, therefore. is not responsible for errors in aames or addresses.) 3

Loren A. Hart, 22, of Franklin: Evelyn

4B of 128 B. Ilinois St. in 0, mastad, 41. of "Indianapolis:

a | cino

flberia Schakel, 31, of 1423 Brookside

PaTENAY R. Tanner, 20, of 1218} * St.: Thelma ‘Bernice Hale, 13% & 105

Hovey Har LE David Morrell, 22, of 516 Cincinnati St.; Ell Cipeinnati st a Nathan, 17, of 515 mer Lewis, 20, of 2323 Reforme LR Borgmann, 20, of 1137 Ss Kel Charles ‘Prancis Loyd, 21, of 3022 Broacway: Evelyn Eilee Fay: evelyn = n Aylor, 19, of 2348 N.

BIRTHS

Boys Tobe, Dorothy Roach, at Meth Sidney, Virginia Solinger, at Bistiiodis. Ll Luella Click, at Methodis

ord. ncan, at 1009 Ha . Gertrude Polston, at 131d

ae Massaret Lisby, at 5201 Burgess. - Girls Albert, Jennie Schlangen, at t Ws hesten Maxine Harbison, Mig 4 ¥in-

J. E,, Grace Holman, at 1543 Cruft.

DEATHS

Julia E. Brightmire, arierioscieroats ghtm is 75, at 653 E. 26th, ove. ocglisl on. Se > Long, coronary arrie S€ - cate a .at 619 E. 31st, myo ager Duncan, 42, at 755 W. 26th, carRost Ardena White, 7, at City, tuberculous pneumon Marie E, Stutsman, 30, at Methodist, peritonitis. pi argaret Coy, 30, at Methodist. lobar Eharles Caswell, 48, at City, at City,

scleros A Greeson. 55, hemo orrh David [oNelly, chronic myocardi

18 DIE IN TRAIN WRECK

CAIRO, April 15 (U. P.).—Eigh- | oki

teen persons were killed and 15 in-

jured today in a collision of a railroad workers’ train and a Jlorry|S

loaded with highway laborers near Suez,

| wh

/| east,

Coronary | cerebral | ; t ud at 2935 N. Euclid, | Los Angel

ivered over the air a few hours later, was the temperate tone in ich he spoke. He called no one names. President Roosevelt fails to bite big men. That's news. There were no rabble-rousing epithets—not a “Tory,” a “feudalist’ or an “economic royalist” in the whole of the two utterances. Mr. Roosevelt did not glory in anybody’s hatred. He did not try to set class against class, On the contrary he appealed, with utmost consideration and tact, for national unity, for the co-operation of all groups. He asked labor leaders to find out not how work can be stopped but how it can be made to proceed smoothly, continuously, and fairly. He asked business to help. He promised to do his share.

Denounces Bitterness

He asked Congress to join with him in trying to preserve the balance between all groups and sections. He asked above all for what

is so much needed at the moment— |

the discipline of self-restraint upon which democracy rests. ‘He asked every citizen to remember that immoderate statement, appeals to prejudice, the creation of unkindness, are injurious to the whole country.

Bitterness, he said, is never a useful instrument in public affairs.

Finally: “There can be no dictatorship by an individual or by a group in this nation, save through division fostered by hate. Such division there must never be.” If President Roosevelt means what he says, if this is the course of conduct which he is determined to follow, then he has revised in a fundamental way his political tactics. However, the Roosevelts being what they are, we’ll have to wait a while to be sure whether good .intentions are stronger than blood.

Points of View Clash

As to his $3,000,000,000 pumppriming program, there are two ways of looking at it, aside from simply putting it down as a gigantie pre-election bribe. Opponents consider this proposal in terms of the Treasury balance sheet. They see that our public debt is the highest on record and hesitate to add further to it, even If it is only $1,500,000,000 as Mr. Roosevelt says, or more as some critics say, depending upon how you juggle the figures, They say that this fur-

ther unbalancing of the budget will’

drive the country nearer bankruptcy, and undermine confidence still more, The other view, taken by the Administration; is that the important thing is not the Government balance sheet but the national income, the total earnings and income of the American people. In 1928 this national income was 80 billion dollars. In 1932 it was 40 billion. In 1937 it was 68 billion. Mr. Roosevelt, and many economists, see no reason why it should not go to 100 billion. With that potential income, a debt of 38 billion as now, er 40 billion, or perhaps a few billion more—in any event amounting to half or less of the annual national income—is considered by the Administration to be entirely safe.

can be depended upon to go where it will do the most good—to the ma-

chine and its “sugar daddy” in|

Washington.

CHICAGO pAILY. fives (Ind.) —In his message to Congress Mr. Roosevelt achieved what we hoped for. His. message was firm in its determination, and as filled with broad, liberal vision as his previous utterances have been.

SAN FRANCISCO CHRONICLE (Ind. Rep.)—America expects every Congressman to do his damndest for his, district.

KANSAS CITY TIMES (Ind.)— It (the Administration program) is, in short and once more, an attempt of the Government to.do what private initiative should do and would do if given the needed opportunity by Government.

OFFICIAL* WEATHER

tee United States Weather Bureau...

INDIANAPOLIS FORECAST—Occasional thunder showers probably tonight, tomorrow and Sunday with continued mild.

RAI 5:07 | Sunset ......6:23

Sunrise’

TEMPERATURE _—April 15, 1937—

Precipitation 24 hrs. ending 7 a Total precipitation since Jan. Po Excess since Jan. 1

MIDWEST WEATHER

Indiana — Occasional thundershowers probable; tonight and tomorrow; cooler in north portion tonight: rising temperature extreme north portion tomorrow; Sunday thundershowers with mild temperature. Lower Michigan—Generally fair northmostly cloudy west and ‘ south . portions, cooler south' and east-central portions tonight; tomorrow showers with slowly rising temperature; probably showers Sunday. Illinois—O ccaslional thundershowers probable tonight and tomorrow: cooler northeast portion tonight; warmer tomorrow northeast portion; thundershowers Sunday with mild temperature. .

Ohio—Cloudy. probably showers tomor- |

row and in north portion tonight; cooler extreme . north portion tonight and in west and north portions tomorrow Kentucky—Cloudy, probably showers tomorrow and in west portion iste, tonight; cooler in west portion tomorrow

WEATHER IN OTHER CITIES AT 7 A. M. Station. Weather.

Amarillo, Tex. ....... Cloudy Bismarck, N. D Cloudy Boston . .Cloud

Cleveland

Doge City, Kas. Helena, Mon at,

B28822823222508208552333382

: + Times Photo. Adoration of the Cross on which Christ died was the spirit of Good Priday. These boys knelt before the main altar of SS. Peter and Paul Cathedral. The devout kissed the feet of the figure of the crucified

Reporting of Accidents Will

COUNTY ROADS [°® 0 BE MARKED INSAFETY DRIVE

Be Facilitated; Drivers” Records to Be Kept.

The Governor's Co-ordinating! Safety Committee today decided to authorize the marking of all county roads to facilitate accident reporting by enforcement officers. Meeting to put into effect a program started more than a year ago, the Committee also authorized creation of a permanent accuculative file containing the accident record of every driver in Indiana. Two advisory committees also are .to be established to aid in the program to reduce Indiana's traffic deaths. One of them is to be composed of all Indiana law enforcement officers, and the other of representatives of civic and citizens’ organizations. Governor Townsend said the new Indiana safety system is to follow completely the recommendations of the National Safety ‘Council. It is to include: 1. Co-ordination of the atolt work of the - State Police, Auto License Bureau, State Highway Department and the State Board of Education. - 2. Establishment of a comprehensive system ‘of accident reporting to discover the “where, when and why of accidents.” 3. Inauguration of an educational program among both school children and motorists.

Christ at a smaller crucifix at the altar railing. Protestants heard the story of the cross at union services.

— At ROGERS

Conference Deadlocked on. Profits and Capital Taxation

WASHINGTON, April 15 (U. P.).—President Roosevelt today prom- |

ised to send a new tax message to Congress as House and Senate conferees reached deadlock in their battle over the undistributed profits

and capital gains. levies. Mr. Roosevelt said he shortly will] send a message to Congress suggesting subjecting future Government securities issues and salaries of Government employees to regular taxation. He also will draft "another message dealing with monopolistic practices and price fixing in business, he said. His announcement at his press conference took the edge off controversy of congressional conferees over the Borah tax bill amendment which would subject Federal bonds to regular taxation but would exempt state and local Government security issues. The development centered , the conference struggle on the two major issues—Senate elimination of the . undistributed profits . tax and drastic modification of the levy on capital gains.

In full rebellion against Mr. Roosevelt's demand that the profits tax be reinstated in skeleton form and the capital gains levy be restored to the form approved by the House, Senate conferees moved for adjournment 15 minutes after the conference committee began work today. Chairman Robert L. Doughton (D. N. C) of the House Ways and Means Committee, told the Senate conferees that the House is standing firm on its version of the bill. At a complete impasse, the conference adjourned until Monday. Rep. Doughton and Chairman Harrison (D. Miss.) of the Senate Finance Committee, walked from the committee room together for a conference at which & possible break in the stalemate may be devised.

Strauss Says :—

STORE HOURS SAT. 9A M. TO 6 P. M.

-14-kt. yellow or 18-kt. all

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are the fine HATS in the field of | Popular Price. Soft, pliant felts soi] rich to the touch, ‘true in color o er .

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A lightweight hat (with a "Cross Country" outlook). A snap brim Homburg . . . very smart. A lower crown broader brim hat . . . very new. Every calor -e . including WILLOW,

that certain -gray-green shade that is No. I'in the Head-Hit Parade.

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VEST POCKET FLASHLIGHT

ORDERS RIPPLE PARK TO RAZE STRUCTURES

Four ‘concessions structures at Broad Ripple Park were condemned today by State Fire Marshal Clem Smith and ordered razed ime

mediately. They are the roller skating rink, merry-go-round, “temple of mys= tery” and superintendent’s cottage. “We have been informed by Ewing Cox, secretary of the Broad Ripple Park Corp., that the management will co-operate with the order and will replace the old structures with new buildings,” Mr. Smith said.

by alterations in highway construce tion. ; lew Wallace, National Safety Council representative, was to meet with the committee today. Committee members include: State Safety Director Don Stiver, Highway Come mission Chairman T. A. Dicus, Superintendent of Public Instruction Floyd I. McMurray and Auto License Bureau Commissioner Frank Fine ney.

Two Hurt in Crash; 63 Autoists Arrested

Two persons were injured serie ously in a car collision ‘as police are rested 63 autoists overnight, three on drunken driving charges and four as reckless drivers. Mrs. Louella Hines, 38, of 4844 Guilford Ave. received a fractured pelvis and her husband, Walter, 38, driver of the machine, suffered face lacerations when their machine struck another car at 46th and Pennsylvania Sts. ‘The Hines car, police said, going west in 46th St. collided with a machine being driven south in Pennsylvania St. by James Ingram of 1903 Highland Place. Three occupants of the Ingram car were not injured. Mr. and Mrs. Hines were

4. Elimination of traffic hazards

taken to City Hospital.

put SH pa

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