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Show HOOVER URGES ECONOMY ACTS WASHINGTON. Feb. M vP)-PrMl-dent Hoover, In a special maasag to congress, sent unexpectedly, today urged seven biovm to promote "economic "eco-nomic recovery," and aisled hi opposition op-position to th domestic allotment plan ot farm relief m "wholly unworkable." un-workable." Some measures "looking to th promotion of economic recovery," the president Mid, hav been so fsr advanced ad-vanced during th present cession "M to eeem possible of enactment" befor March 4. He listed them numerically. Firat in line, Mr. Hoover placed th bankruptcy bill passed by the hous. saying it enactment I "ot the most critical importance in thi period pe-riod of readjustment'' He urged also ratification of the Great Lakee-St Lawrence seswsy treaty, enactment by th hous of th general principles of th Glass banking bank-ing btU and authority for th Reconstruction Recon-struction corporation "to increase the amount of loan to state and municipal munici-pal l tie for purposes of aaslsUnc to distress on th gam term m Um present pres-ent act" After lashing out at th domestic allotment plan, th president recommended recom-mended also repeal of the authority under which th hou may giv publicity pub-licity to loan of th Reconstruction corporation. I Saying th transactions should be open to members of congress, Mr. Hoover asserted, however, thst publication pub-lication of th full list ot loan had i Cestui tie a rasa Teal HOOVER URGES ECONOMY ACTS i i , i IQMIIaaad Prsea Psss Oasi i led to "widespread, mostly Iruvocent I misinterprets Uoci, vicious In effect by depositor and alarmlata who dc not recognise that uch borrowing) represent a noevor of the Institu tloa to provkte fund needed la Mr vice to their reepectiv commonlties ' "This publication." h added, "ii ' destroying th usefulness and effec - Uveness of th Recoastructloa corpo ration, a) exaggrating I ears ana i introducing in-troducing new elemenU of grav danger. dan-ger. It la drying up the very sources of credit The effect of such publication publica-tion la forcing payment by distressed debtor to replenish bank funds. It I causing th boarding of currency." |