Show Additional Mining News DEVALUATION PLANS MAY CHEAPEN CREDIT I NEW YORK Jan 24 JP-An JP J-An J P An era erat of t cheap and plentiful credit may well wail wel result reul from the t governments government's dollar evaluation devaluation and ad credit expansion plan Ian in the opinion of s some me Wall Wail Wl street authorities The first response to lo President Roosevelt's budget message in which he ic announced the huge project of ot borr borrowing bor bor- r wing rowing in new money in i n the coming six months led at first to o some apprehension of rising money rates ates rate The potentialities of credit sion ton however in the dollar dolar devaluation tion ton on plan ad and the terms of ot the first of the big financing pro pro- ram have suggested that the f inane inane- tag ing ng will wi be accomplished largely through an expansion of bank credit The Te treasury is i beginning Its it f financing inane inane- ing ng by offering in 2 12 2 percent er cent notes note maturing in little more than han a year and in six months months' 1 2 1 per cent certificates In Inlew view lew o of conditions in marcet mar mar- hat ket these rates rate were viewed In 11 Wall Wallstreet Wal street treet as a highly attractive to banks bak The Te shortness of the maturities also led ed to the suggestion in i some quarters that the treasury may well be considering rig conid-rig the te funding of its it huge floating debt on a longer term basis bai some ome months month hence when presumably ably the dollar devaluation will wi have taken aken place and stabilization shall have ave been accomplished Some investment managers arc are still stU ill wary war of gilt edged gi bonds because they icy feel that much potential ila inflation tion ton on still lurks In the future but ut the te past ast iwo wo weeks has seen scon one of of the sharpest recoveries in i corporate bo bonds d ever witnessed in the New NewYork NewYork NewYork York market market Man Many inv Investment institutions in in- have ha e to pour their funds fund I into nto bonds bond regardless of whether they tey believe beleve that tat the purchasing power of the he dollar may decline and fixed income in in- come securities may be relatively less les than equities |