Show E ECONOMIC CON 1 I C HIGHLIGHTS Happenings s that affect the dinner pails dividend checks and tax bills of every individual Nation Nation- National National al and international problems in- in inseparable inseparable in inseparable separable from local welfare D By the time this is read fire fire- fireworks fire fire- fireworks fireworks works will probably be flaring flarin in Congress over a White House backed House back ed measure to place government credit back of a home building program pro program program gram According to the experts there I is a potential of cautious cau cautious cautious private capital which can be put to work if the government in in the investment The Admin Admin- Administration Administration Administration belief is that the mortgage mortgage mortgage age market nee needs s that support support that it likewise needs of terms and provisions in making loans The current proposal includes es establishing requirements for tor a aI I type standard mortgage to ma- ma mature mature ture turc in 15 or 20 years ears All build build- building building ing costs would be taken care 0 of ling eliminating the need for a second mortgage Interest rates would be below low as compared with present rates While hilo the proposal al ia is design designed designed ed cd primarily to stimulate home private small home building it is possible that small type apartment houses of not more than four stories would likewise be financed The Federal government would guar guar- guar guar- antee guarantee the mortgages Belief Belie is that this would permit banks and lend lend- ing lending agencies to make many loans that are now impossible If IC the bill passes which passes which with the Roosevelt influence back of it it probably will will-it will it will brin bring to an end an nn aggressive campaign which contracting organizations heavy good industries and some ome of the loan associations have been carry carry- ing carrying on ever since the reo y ey program started Home building has hns been lethargic since 1927 When depression set in it practically practically cally the the drop as compared with the peak 1926 level was something like 90 per cent Most disastrous result was to throw out of jobs a heavy percentage percentage percentage tage of the men who are aN ar normally employed in construction plus plus an equally heavy percent percent- percentage percentage n age e of or another who worked work worked ed cd for the heavy henvy industries supply supply- supplying supplying supplying ing the lumber steel cement ald and other in It Itis is definitely known that the death ItI I or of home building wasn't due to lack of need or desire for new and better housing most housing most estimates place the nations nation's home shortage at houses Even that may maybe mayhe maybe he be a modest estimate estimate-durin estimate during estimate during the past four years fire obsolescence and decay have been more than usually destructive population shUts shifts have created house shortages short short- shortages ages nJ ages s in some places and left use useless use use- useless useless less surpluses in others and the ther has been a n vast amount of or ing up of families A spokesman for the Administration Administration lion tion has said that the present pro pro- proposal proposal pro proposal is not regarded as a relief relic measure that it is sound business oO 00 A horse of a different color so far as the attitude of industry gen gen- generally generally generally is concerned is another pro pro- pro proposal regulation regulation of all communications communications communications industries telephone wire and cable by the Federal govern govern- government government government ment It cant can't be officially called an Administration proposal as yet but but the supposition is that Mr Roosevelt wants it it and is liable to ask for it if he thinks it has Do a good chance of passing Congress An opening gun Jun was fired the theother theother theother other day by Walter WaIter M W Splawn newest member of the interstate commerce commission Mr has just completed a n year three study of holding bolding his companies companies report says there have been prolific abuses in the matter of If that it is now impossible t determine the fairness of tele tele- telephone tele- tele telephone telephone phone rates He lie recommends stern and efficient control of the mes message mes-I mes mes- mes message sage and word s systems stems by a commission com com- commission commission mission wh whose se duty would be a going thorough going study of the Amer- Amer Amer and Telegraph com company company pany and other bi big systems Oddly enough h some of the most potent resistance to this bill will not ot be based on whether or not the communications industries have been financially arrogant and need re regulation regulation-it it it will be based on the fear of suppression of free speech Voices are arc beginning to be heard now on that angle angle and and some of them are arc backed by names such as that of Democratic Ex Senator Ex-Senator Reed of Missouri l that command wide and respectful attention Al- Al Almost Almost Al Almost most everything that appears in inthe inthe inthe the metropolitan newspapers for instance comes conies over the tele telegraph raph wires and and the power of govern govern- government government government ment in coloring news and com com- comment comment comment ment if it were able to dictate what can be transmitted doesn't need describing Theres There's one way to get rid of the wheat surplus surplus chemically lly treat it so that it is unfit for hu human hu- hu human human man usel use I ITo To most readers that will seem ver very much like burning down the forests to lower the lumber supply But Dut its it's the serious recommendation recommendation recommendation tion of ot the world wheat advisory commission which met in Rome and was attended by 35 representatives representatives representatives of 15 16 wheat producing wheat countries quality Low wheat would be denatured and removed from the thc world market It is said aid it could be made poisonous or un unpalatable un- un unpalatable unpalatable palatable to humans and still fit for animal food |