Show TWO BIlliON BILLIONi RELIE HEUEr i I Bill IN NUTSHELL Loans Lonn To Bo De Extended To States And Territories Upon AppU Application tion Uon Of Their Governors No State To Borrow orrow More Than chan 15 r Per Pcr Cent Of The Amount A summary of the provisions of the th compromise emergency relief measure known as the Wagner Garner bill passed I last week eek by the house and later by the senate and then vetoed by president Hoover Is given here here- with 1 Reconstruction Finance corporation corporation cor cor- loans of to tobe tobe tobe be extended to states and territories ies upon application of their governors governors governors gov gov- for relief of distress To state may borrow more than 15 per cent of the total amount Life of this provision is two years 2 The provision opposed by President Hoover an additional in capital for the I Reconstruction Finance Corporation Corpora Corpora- tion to enable it to extend loans to any person who desires fi financing financing financing fi- fi to aid in restoration of agriculture commerce industry and housing and exportation of American agricultural products States and municipalities desiring to undertake self liquidating public public public pub pub- lic works would have preference as well wen as certain other classifications classifications c of borrowers 3 for state aid highway loans 4 for federal c construction construction con con- n- n projects previously au- au by congress This mund would be expended only in the discretion discretion discretion dis dis- of the secretary of treasury treasury treasury treas treas- ury when the federal government Is in a position to finance the op- op op op- |