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Show FINANCE PUS GET PRIORITY Addition of Hundred Million To Fedora 1 Land Hanks Is Huing Rushed. WASHINGTON. Dec. 19, ,rj,. Tlu1 administ ration's financial ie-i lift' promm today received prim-, .ty action in congress under White . louse pi ensure. The house, taking up the Stern-all ' bill to add $100,000,000 to the eai, itnli.ation of federal hind banks nssured prompt passage when debate de-bate was limited to two hours. Undetsecietaiy of the Treasury Otjilcn 1,. Mills appeared before the senate banking and currency com-mi com-mi t tee to explain the adniini.stm. t ion's ideas uf the benefits that would result fiom a $r,00,GOG,ooo reconstruction finance corporation designed to aid railroads as well us business and banking. Senator Waleott, Repn., Conn., predicted, after a conference with President Hoover, that the recun- i stiuction corporation would be up-proved up-proved by congress before the Christmas holidays. P.ul Demo cratic Floor Leader Rainey of the " house said it could not be considered con-sidered until after the holiday re-" cess. "To Correct Evil" Chairman Steagall of the bank-' ing and currency committee, opening open-ing the -debate, told the house thai the $100,000,000 added lanfl bank capital was necessary to corrreet "the evil of a widespread, farm mortgage mort-gage foreclosures." He said the lack of adequate farm loan bank reserves hus resulted re-sulted in the forced sale of farm lands at "prices absolutely destructive destruc-tive to agriculture." "This bill," Steagall said, ''docs not provide a general farm loan moratorium. It merely gives thu banks the ability to exercise discretion discre-tion in individual cases." |