Show GOOD CREDIT VS Y YH H Good Credit Bankers Tell Congress Should Be ae Self Liquidating By CLAUDE A. A JAGGE Associated Press Financial Edit EdItor NEW YORK May 12 P Sf i- i di of credit astute financiers Insist upon a fine line of distinction between 1 credit and pro credit Conservative bankers have ret rel with expansion of product no qua ui credit but the reckless c nonproductive credit they as merely paves the way to hard t and perhaps Insolvency t The theoretical distinction betwee the two is that productive Us its way while nonproductive cS merely defers the settled day of In the hope that a stroke 5 of will make payment easier l In the ft ft lure ture e fl flIn In indorsing the p mi he lic works program proposed i in th senate by Senator Robinson M M. Boruch Baruch drew this distinction well known to hard headed banker H He said public the public works should b self liquidating such as rehabilitate city slums which would pay for ther selves over a long period rents It is easy to describe the sort credit that is obviously i but the business of drawing the at the point where credit becoat nonproductive becomes shelled Hard bankers might aae asse that credit for the building of u une public highways for the s si benefit of would be no productive But the building of big hie ways so obviously helpful to cor merce that they increase profits ar consequently the tax paying of the public might be consider productive if not directly dating like s' s n a toll bridge The theory of extensions of cr abroad through the sale of ford fordi bonds in this country was that it 5 vided needed facilities and ments enhanced the well being peoples and consequently their ability to buy American gooi But foreign bond in th til country have been severely because so much of the credit ed did not prove to bc be Productive WIllIe While M public works such as pan parl stadia and swimming pools all t tc to increase public well being const cony bankers say that fo for such projects should be kept rigid alignment with the tax tax-payi power of the public |