| Show THE DAILY WASI WASHINGTON Round Merry Trade Mark MarkBy MarkBy MarkBy By DREW PEARSON and ROBERT ALLEN 1 WASHINGTON The WASHINGTON The currency i nf 1 I a t i ion o n i are at it again The Committee of the Nation which went into deep silence after the dismal flop of its Wirt red revolution scare has started up its mimeographing machine and is once more pouring pouring pouring pour pour- ing out a hot stream stream- of inflation clamor The bombastic fulminations of oC Senator El Elmer Elmer Elmer El- El mer Thomas Thpmas about the European junketing of Governor Govern r George L. L Harrison New York federal federal fed led eral reserve governor were part of this revived agitation The drive will really warm up when the president returns to the the White House Its immediate objective is to prevail upon Roosevelt to jack up the price of gold to the maximum permitted by law law an oun ounce e. e The Committee for the Nation warns that unless this further devaluation of the dollar is consummated without delay wholesale repudiation repudiation repudiation of private and public debt is inevitable What the really are aiming at atis atis atis is the next congress When it convenes the administration will be confronted with the great problem of devising ways and means of paying the huge recovery bill plus raising large s sums ms for further public expenditures That this last will be necessary no one in authority doubts Two alternatives will be open to the g gov government v- v 1 Increased taxation 2 Inflation Currency are made up of two elements clements the higher bracket income class such as the Committee for the Nation who are op opposed opposed opposed op- op posed to boosted taxes also the ridden debt-ridden farmer and middle class who cant can't afford new burdens Both want the financing done via the inflation route United they make a well vell nigh irresistible force They forced concessions from the president president president dent the silver purchase bill last session There is every likelihood they will do so again Steel in Jun Jungle lc A project for the expansion of the American Ameri Amen can steel industry to Brazil and Mexico was placed before beare Secretary Hull and U. U S. S Banker George Peek last lost week The plan is to erect giant steel mills in the jungles of these two countries take advantage of ot their rich iron ore deposits of the idea is Charles P. P Perin Penn who put across a similar project in the jungles of India Perin Penn seeks a loan from Peeks Peek's Import- Import Export bank in order to develop the mills Whether he succeeds or not his proposal is important because of one thing Some day soon someone will build steel mills in South Amer Amen ica T This is marks the beginning of the industrialization industrialization indus indus- of those areas the near day when it will be increasingly difficult to sell them American manufactured products How to Get It Over is now available as government government government gov gov- loans to private industry big and lit lit lit- tle tie The job of getting one may not be easy but here is how to go about it 1 Applications must be made to the re regional regional re- re gional federal reserve bank or to the local branch of the R F C 2 Borrowers must furnish adequate security security security ity and an audit of their business made within the past six months 3 Loans will be granted only for working capital needs and not for new or enlarged equipment In the case of the I R F C loans can not exceed 4 Borrower Borrowers must prove that they were in in business on Janu January ry 1 I 1934 and that the they are complying with the N R A. A 5 Loans granted will mature in in five years and the interest r rate te is s the same as that charged by commercial banks on similar transactions 6 Large fees are barred to negotiators of such loans Monolog Of all the municipal for P PV W V A funds Detroit's Mayor Frank Couzens son of Michigan's multi senator has been the most vocal The auto city has received only Young Couzens claims this is far r below what Detroit is entitled to Secretary Ickes agrees but says local red tape is solely responsible I sometimes wish he remarked that all local statutes could be abolished Then maybe we could terminate some of these incessant dialogs between municipal authorities and the theP theP thep P V W A A. A. A How is the Detroit dialog progressing he was asked Dialog Ickes replied no dialog That is a monolog on the part of Detroit Current widespread labor abor disturbances have not changed the administrations administration's policy of feeding feeding feed feed- ing ins strikers Unless the labor department no notifies notifies notifies no- no it that a strike is unwarranted the F E ER ER ER R A makes no dis discrimination between strikers and other idle workers S You cant can't keep a good man down Minnesota's Minnesota's Minnesota's Minne Minne- sota's Laborite Farmer Representative Francis Shoemaker ex-convict ex and stormy petrel who was recently defeated for a senatorial nomination nomination nomination nomina nomina- tion now has decided to try for another term in inthe inthe inthe the house on an independent ticket Copyright 1931 1031 by United lu IU Syndicate ar tOe Inc |
