Show 4 iE PUBLIC PUBLIO WORKS BOND ISSUE E IS IS STUDIED 3 c 0 Roosevelt Believed Turning to Plan as Limited Inflation of House Proposal ld Indic of AdI Administration Administration Ad Ad- ministration Trend 1 I v By Iy RAYMOND CLAPPER United Press Staff Correspondent Correspond nt iWAS WASHINGTON TON April 14 14 Belief Belief 1 t i President Roosevelt is turning iward jward a s large public works bond Dond i sue sue as a vehicle for r limited ion on gained in c congressional and of of- quarters toda today House leaders gave encouragement this view by the swift death which i ley ey y dealt to an outright n proposal just before It g Lg th the administration farm mortgage Ill LI The powerful inflation bloc in the wise d without a struggle n-e n one of its numerous members even pealed peal d from the decision of calm haired bite Speaker Speak r Rainey when he held hed ld d their cherished child brain out p order orde I Senate champions of ot direct cur- cur are not discouraged ncy expansion I iare r r. the administrations administration's stand Each ly li brings introduction of new rew pro- pro The Thc latest by Senator Van Van- CR R R. Mich provides for istance is is- lance tance of currency against the 2 2 of bonds to be floated for rm rim mortgage refinancing A vote i L these thes direct inflation plans is im- im as the senate approaches con con- ration of the mortgage section of ofie ie e farm bill STANDS STANDS FIRM FIRM Secretary of Treasury Woodin is to Ibe be standing resolutely the numerous proposals proposals' to int mt more m money ney and andt to cut down the mount I of gold the in-the dollar doUar In Inthis this is supported by some sorpe of the best abound him On the other hand they are con con- need that a strong push from the Iv is necessary t l to get the machinery moving They these these- things are necessary 1 T To scale down part of the 1929 t and reduce its carryl carrying g c charges arges Is being done through bankrupt- bankrupt es and measures measures like the farm mort mort- Ige ge bills 2 To provide large quantities of bs They say the n n. do this on t the e gigantic scale ry 3 T Tp raise rais pries es They say this ill follow gradually through jn n of buying buring once unemployment is and through the limited in in- tion which a large bond issue would WA WAY President Roosevelt M his Muscle le message prepa prepared d dle ie le way fo fora al larger public works pro pro- am when he be said the Tennessee valy val val- y was the first firsta firsta firsta a a number number- that he hoped to launch other sections ns' ns of ot the country Each these would devote large public ims ms to flood control works building dams and dikes The object would tt do to wipe wipe out out the staggering periodic from floods increase the value farm larm lands affected and produce l leap eap ap electric power The big tig problem in a large bond sue me is to sell the bonds G Govern Govern- vern ent financial experts believe the fedal fedal fedal fed fed- al reserve system can absorb large entities of them under the recent bank law which permits sue of emergency money on such curi ties Only of the new v money is 18 gone into circulation because lere ere is no demand for money moncy More Morean MoreLan an Lan in iri money has been tired from circulation since the ink crisis as hoarding hoarding- declined and nd ink mk checks again came into use As government experts see it l Ie Le printing of ot additional m money ney auld be useless at present But the theand and nd issue would provide a new outi out- out t i for it They say the public works could be met simply by additional money but that thatis is b preferable to pay for it through ands because the bonds bonds- have a defile deli deff le maturity and bear Interest beat interest which incentives for retirement Either new mone money or bonds would based purely on the governments government's remise to pay pay and and both would con con- tute inflation The experts regard te e bond issue as s s the most easily con con- oiled led method of doing it |