Show t FAITH VS 0 FEAR FEARIE CURE IE FOR DUMPS Efforts Directed to Creation of Demand for Credit Supply RICHARD L. L GRIDLEY United By fly Press Financial Writer NEW YORK May 28 Governmental Governmental Governmental Gov Gov- banking bankin and industrial industria leaders are t taking drastic steps to clear dear the road for economic recovery balanced budget and stabilized with a credit structure When the individual worker stops worrying about his job when people their money without fear invest ingest the public regains full fun confidence confidence when in financial institutions am and dence purchase o of when er e everybody body resumes they say business improvement improvement im improvement im- im necessities provement will be automatic P Congre Congressional leaders this week made another organized attempt to Glance the federal budget on the theto to theory balance that failure to do so is the foremost obstacle in the way o of re re- cowry corny The sales tax was again brought brou h forward F Federal eral reserve authorities sought means of forcing its excess reserves reserves re re- re- re new into business channels The serves Federal Reserve bank o of New York followed allowed by other central banks banks has appointed a committee of 12 leading industrialists bankers and businessmen business n to find ind ways was to use this credit m men The New York group this week put nut forth several everal constructive plans among which were financial aid to the small home owner and thawing of business credit through more liberal liberal liberal lib lib- lib lib- eral use me of trade acceptances acceptances- The latter plan allows corporations to receive payments for their products products prod prod- uc almost immediately A small corporation corporation corporation cor cor- selling to a large unit would take the bill of lading to a bank where it immediately would receive payment Considerable cheer is manifest inthe inthe in inthe the middle west where automobile makers arc are gradually increasing out out- put puL May production is estimated a ai at units an increase of 33 per percent percent percent cent over April The steel industry has receded to 2 24 per cent o of capacity from 25 per percent percent percent cent last week Retail trade has felt fell the influence of warmer weather and the Memorial Memorial Me Me- morial modal day holiday Banking conditions have ha shown little change Financial markets have a again ain been upset by a steady stream of liquidation During Durin the past week 21 banks closed accord according ng to the American Banker against 12 closings the previous pre week |