Salt Lake Telegram | 1933-06-16 | Page 3 | Record of Congress

Record of Congress Congress I W WASHINGTON S June 16 CAP The AP-The The third seventy congress accomplished a making history ry record of legislation passing every vital bill submitted by tho president and starting the tho govern ment merit on new enterprises Briefly recapitulated hero Is what was dones FINANCIAL LEGISLATION I Took the American dollar doUar off oft gold placed the banking banking- St S t tern tem m under emergency federal control cancelled all nil public and private promises to pay to-pay pay in gold Appropriated more than most of it for expenditures to be bond issue financed and not Included In the regular budget Empowered the tho president to reduce normal normal nor nor- normal mal expenditures nearly to bring the regular budget to somewhat of or a balance Imposed new taxes to yield a year t to fund the extraordinary bond issues continued through 1934 all special excises by the previous congress enlarged the federal tax on gasoline and transferred the electricity 3 per cent tax from consumer consumer con con- sumer to producer limited d the capital gains and losses provision of or Income tax law Ordered reaching far-reaching revision of American banking methods limiting the power of ot private banks reducing the opportunities for speculation with bank credits insuring deposits restrictedly and strengthening federal reserve supervision Put issuance of all securities under federal supervision in inaugurating in policy of making king seller selle be beware are MEASURES l FOR RELIEF Authorized country's biggest pu public construction program more than three billion dollars' dollars worth to create employment Voted first federal large scale direct relief grants Made possible antitrust law suspension for tor new Industrial policy of supervised government trade agreements to control production production pro pro- boost prices es wages and employment Approved creation of ot civilian conservation corps to employ quarter n million young men at conservation work on dollar dollar-a- day basis Gave secretary of agriculture agriculture- power to boost farm fann prices through a 0 wide variety o of alternative programs combining most of the farm relief proposals of the past 10 years ears Made available for tor relief 0 of farmers and homeowners home homeowners homeowners owners hard pressed under big mortgage load Authorized reorganization of ot railroads under federal di dl- dl OTHER MAJOR LEGISLATION Legalized 3 32 2 beer Approved government entry In power business by ordering operation of Muscle Shoals with federal sale sale- and distribution o of ot current inaugurating wide-range wide program of ot developing tho ho iP-e iP e mf basla i ps M a l model rural industrial p l area i