Show National Whirligig Truman Anti Anti Anti- Truman ma n Plan Set By Business B By Ray aJ Tucker cr v WASHINGTON ASHINGTON American businessmen have belatedly belatedly- perhaps too belatedly accepted belatedly accepted aggressively the challenge hurled against them by President Truman Truman Truman Tru Tru- man with fresh proposals for federal entrance into so many fields they had hitherto re- re regarded as private enterprise provinces and projects It marks malks a departure from their previous opposition to Washington's persistent demand for more power and re responsibilities ties over all forms of human ac ac- ac- ac During Roosevelt II's regime regime regime re re- re- re gime the they simply imply fought and baited him albeit ineffectively ely He went over their heads which they did not hold too high to the people and to congress congress During Mr Truman's first two years they simply denounced and worried over his schemes scheme They rolled with the punch in the hope they could escape a knockout knockout knockout knock knock- out blow Always of course they told themselves that some day the Republicans would win vin and hold both White House and congress possibly checking what they re regarded regarded regarded re- re as a leftward swing So far that hasn't As Asa a result they no longer place trust or reliance in political parties parties parties par par- ties or machinery Substitutes Substitutes- Now largely as asa asa asa a result of Mr Truman's proposed proposed proposed pro pro- posed extension of his fair deal dealin in several 1950 messages to Capitol Capitol Capitol Capi Capi- tol Hill the gloves are off They mean to submit their own made home-made substitutes for his schemes They only pray that the decision for a counterattack as against mere mete negative defense defense defense de de- has not come too late Specifically they aim to develop develop de de- parallel programs in their respective fields health fields health COnstruction construction construction con con- industrial and business financing etc etc so so so that the current current current cur cur- rent session of congress will have a clear choice between their methods and his technique It might at least delay approval of most of the fair deal dear before the congressional elections next November giving ing the voters a chance to pass another judgment judg judg- ment As a product by-product their rival rhal and competing ideas might become become be be- come conic the G 0 O Ps P's political rebuttal rebuttal rebuttal rebut rebut- tal in the 1950 and 1952 contests assuming that the privateers hurry hurry hurry Banking Here Banking Here Here is an attempt to list and suggest the politico- politico economic significance of these major major- moves to offset and prevent creation of a welfare welfare welfare wel fare subsidized or socialistic tic state as the opposition variously variously variously vari vari- dubs it Banking and financing of in industry industry industry in- in Mr Truman has asked that the maturity period for forR forR R F C loans to business o OP i extended extended extended ex ex- tended beyond the present ten- ten year maximum He wants ants to tomake tomake tomake make the R F C what a former chairman describes as 35 the bank of the United States Remembering Remembering Remembering bering the Kaiser and Kansas oil loans with their political political political po po- po- po implications bankers are opposed to this proposal Jo Bank and insurance executives are now working on a scheme under which in combination they would handle long term loans for large and small business business business busi busi- ness at reasonable rates lates The lo local local local lo- lo cal bank would assume 10 20 of the advance police and supervise it while insurance firms would undertake the bal bal- ance Housing Mortgage Housing Mortgage financing for middle income homes and apartments Mr Truman has asked for new legislation and authorization for plan lie Jle hopes that cooperatives union labor banks and other ical banking institutions will handle most of cf this bu business iness al although although although al- al though he has tas not spelled out his ideas yet But there is a little known federal federal federal fed fed- eral agency which has already purchased mortgages totalling about 20 of residential loans now being made It is the Federal Federal Federal Fed Fed- eral National Mortgage It has authority to buy up to wt worth v lh of second mortgages With this agency's purchase money builders may then continue to expand It enters enters enters en en- into direct and threatening competition with private banks and construction companies Mr Truman wants additional authority and funds for F FN N NM M Df A A. It will spearhead his new drive together with ops co-ops la labor la la- labor bor bo banks and friendly institutions institutions institutions for cheaper housing Mortgages To meet this threat the National Association of Home Builders plans to establish establish establish lish its own secondary mortgage market They admit that they have been forced to this step by what amounts to almost direct lending by the government al although although although al- al though that aspect is concealed through use of the she purchase scheme The private builders and amI financiers financiers financiers finan finan- ciers will assemble mortgages s place them in a single package and then offer them to insurance companies and other lending in in- in They believe that thus buttressed they hev can oC el elas as low rates and generous terms as Mr Truman's federal or orI I friendly agencies |