Show f DA DE VE LOP NEW FINANCE AID president 1 of american bankers association describes plan pinn end and services of national C credit it corporation NEW YORK the national credit corporation a billion dollar compera Is the method worked out by hankers to pu lato into practical effect the central condral point lit in president resident deni s plan tor for renewing the corn com meran and industrial activity or of the laton as as proposed in his stat statement e ment to the nation of october charry 7 harry J haas president of 0 the american bankers association stated in a recent interview the corporation Is strictly cooperative in fit character ho he sald said tc unite the oni re banking system and increase the effectiveness of 0 the financial services of 0 banks to their communities in the rural districts as well as the cities the plan will marshall arshall in tho the banking ban resources of tile the country tie lie ex explained led by creating a national institution whose funds will be loaned when nee esbri essary aco to banks which have assets in their portfolios that are thoroughly sound but are not ell ible tor for loans loana at oderal federal reserve banks to benefit everybody Eer body there la Is no citizen in the united 1 states but will benait in very practical w ways ys front roni the results of the operation 0 of this forward horard cooing plan of cooper atlon allon which may be e regarded abone as one of the most constructive steps that I 1 have been taken toward revival of sound business activity mr haas declared adding i the national al credit corporation i re represents resents an eliat that should should have far reaching effect in restoring stor 1 n 9 the confidence of the public the plan not only has been formulated oy the count rys leading banking authorities ties but also will be carried out locally as as nationally by banking representatives who have div given n t their beir time and thought to this s unde undertaking t ak I 1 ng as areal a real public service the american bankers association was in session at the time tho the plan was proposed pio posed and unanimous 1 I endorsed it to in principle I 1 have examined the detailed formulation of the working plans as developed by the i incessant labors of some of the xa na eions leading bankers who have under ahen to put it into practical ope operation radon in n singie minded devotion devot lou to the ua na dional welfare vel fare ani and I 1 ani am able to say without that the national it corporation its as set ill up ly by l y them c a practical sound and ana eq ont el dent means for carrying out president hoovers proposal |