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Show Magna, Utah, Friday April 7, 1933 i News Review of Current Events the World Over Presidents craps Farm Board and Combine Several Bureaus Into One Agency; Win First Round With British on Debt. President term the WHAT thecredit administration" was created by executive order meets with congree-- j slonal approval, as la expected, will be-- I come operative Mar I 27. The ."farm credit administration" replace the federal farm board, the federal farm loan s board, and the farm v R credit activities Qthat have been scat-- ' Lu tered through seven different govern-meu- t agencies. The administration" will be headed by Uenry Morgeutliau, Jr., with the title of governor, and an assistant, for the present at least, Paul Bestor, with the title of commissioner. Governor Morgenthau said, after Issuance of the order, that the activities of the government In granting loans to farmers and farm organizations will be fully In the past, with the government making loans through the Depart- meut of Agriculture, the It. F. U. the farm board and other agencies, varying rates of Interest were charged and different purposes and conditions were set up, and under the new regime. Governor Morgeuthau suld, unity of purpose and treatment will be observed strictly. He also declared that all employees of the new credit administration will be placed under civil service Instead of under a patronage system as exists In many of the bureaus at present. The executive order issued by the President directed the abolishment of the farm stabilization activities of the farm board which have resulted In losses of three hundred million dollars, except that he provided' they should be continued only to liquidate the left over holdings of the board. This consists of thirty million bushels of wheat and twenty-eigh- t thousand hales of cotton. In the message to congress accompanying the order President Roosevelt said Ids purpose was to "maintain and strengthen a sound and permanent Si stem of agricultural credit subject to federal supervision aud operated on the basis' Of providing the maximum of to present prospective Investors In bonds and debentures resting on farm mortgages or other agricultural securities all for the purpose of meeting the credit needa of agriculture at UTiulmura cost." The consolidation of these various activities under one head Is expected to result In an administrative saving of two million dollars a year. r r i v V i i efforts of T11Ecancel or t. f -- to ,, European nations greatly reduce the war debt owed to the United States g 'on,- "and itwis said- President Roosevelt has Vfon the first skirmish to the extent of considering world economic conditions before any discussion of war debts As a result of Mr. Roosevelt's Insistence It Is report ed the Rrltish gov eminent has tun hod down from the position announced by Austen Cham tier-lai- chancellor of the exchequer, when he said that Britain would not awap economic concessions for revision of the debt The British are now willing to discuss economic concessions before the debt question Is taken up. By virtue of this sudden change of front on the part of the MacDonald ministry, the world economic confer ence Is likely to be held In April ot May Instead of next summer or autumn. as the European powers were planning. The British ambassador, Sir Ronald Lindsay, has discussed with Sec retnry of State Cordell Hull, the questions to come before the economic conference before the debt question is considered. The French are also willing to die cuss economic questions before considering war debts. Following a White House conference between President Roosevelt and M. Jacque Stem, vice chairman of the finance committee of the French chamber of deputies, M. Stern, said that he had not discussed war debts with the President; that their conversa tion had been coufined to the economic conference which the deputy thought "It would be very Impor tant to hold as soon as possible." Asked about the deist, be said "It would be very Important for Francs to pay the December Installment ai a mark of respect to President Mr. Roosevelt and Mr Roosevelt Hull have taken the position frou the start that the war debts are secondary In Importance to the re moval of the tariff, embargo, quota exchange and other restrictions or International trade. commission named for the purpose ot preparing aa agenda for the economic conference has listed the following subjects for consideration : "The original and present weight of debt and interest obligations. "Price of primary commodities end price of manufactured goods, both wholesale and retalk The existing volume of production In different staple commodities entering In world trade. "The willingness of creditors to make international loan and their unwillingness to receive payment In goods and services. "The distribution in different countries of the available gold supplies of the world. "The disharmony between the stable and fluctuating rates of ex! change. Prime Minister Ramaay MacDonald, of England, will preside at the economic conference and will name the date for Its convening. A preparatory PROGRESS of the farm relief bill has been slow. Senatorial dignity would not permit of the speeding op of the ponderous machinery of the opper house regardless of the plea of Secretary of Agriculture Wallace for speed and for the passage of the bill M originally written by the President and bli advisers. There Just had to be hearlugs on the bill, and everybody, for and against, muat have a chance to talk, and they have talked. At this writing It teems that "a bill will eventually pass, but whether It will be the bill that paaaed the house, and U acceptable to the administration, or whether It wld be so radically changed aa to bo unrecognized by 1U proponents, or uu acceptable at tbo White House, la for tbs future to reveal. s. poration Is given authority, under the bill, to borrow the five hundred million dollars, but will have no powers beyond turning the money ever to the relief administrator. Ten days after the appointment of the relief executive, the Reconstruction Flnanct corporation would cease to bavo any control over tb granting of loans to states or municipalities for relief purposes, and thus all of the govemmeut'e relief under the one financing would-- be Jurisdiction. invited lo Write to Judge Joel E. Smith, Wichita. The Shirkmcre. r SUBSCRIPTION RATES S2.00 Six Months Payable In Advance Advertising H. WIDE TIMES Issued Every Friday st Magna, Utah second-clas- s mail matter under the the postoffice st Magna. Uuh a Entered at 1879. act of Congress of March 3, One Year A- - -- SI. 00 Rates Given on Application. JARVIS Editor and Publisher WVtfWWWSfWWWWWWWWVWWWWWftWWWV.y RED ARROW FAST FREIGHT SERVICE ; ; ! I ! ; anti-Germa- THE - a THE MAGNA , i boycott an aU business and professional men In Germany baa been clamped down by Chancellor Hitters National Socialist party. The announcement states that It wUI last until Jewish life In Germany la Hitlers government paralysed." while not officially countenancing the boycott la not expected te Intervene. At Nail headquarters It waa said that the boycott "is a purely defensive measure solely directed against German Jewry aa retaliation for the n campaign In foreign countries." All over Germany Jewish owned hops end department stores dosed their doors end were picketed by storm troopers. A NATION Jewish ' A.Jg.JJ ' ' -- I The more important your Shipment, The great-;- ; er it your need of Red Arrow Fast Freight Ser- on Let vice and it Free No fatter or more Economi Carload Freight i pal Service provided in the territory served by the for the purpose of reforestation and In government forest reserves end along the rivers, passed congress with some amendment made by the senate, doe of these amendments removes the atate quota mil restrictions on the sixty-eigh- t lion dollars remaining of the relief funds In the hands of the Reconstruction Finance corporation. This makes It possible for states that have borrowed up to the quota previously provided to continue to bormillion la row outll the sixty-eigexhausted. In the house the bill was adoptroll cell, but with tbs ed without Republican members In opposition. This opposition was not directed at tbs bill but at the methods of ruling tbs bouse by the Iemocntlc majority. It waa the first of the bills that bad not rocs I red non partisan support lo the passage through the house. 3 room strictly modern furnished house I with bath, Gas Heat, Electric Water Tank, Garage Complete. Inquire Magna Times. SALT LAKE AND UTAH RAILROAD bill providing for employment of 250,000 men Presidents HOUSE. FOR. RENT ether work DIRECTOR of the Budget C3Z2O2e20HI LOOK How Little It costs now IBnnsr Lewie has completed the task of revising the payment to vetIn other directions relief FARM erans onder the terras of the along more rapidly. The bill giving the President proposal for refinancing farm mort- economy dictatorial powers for such revision has form taken and the gages This revision eliminates from the proposition la for eelllng of farm pension rolls all veterans with to extent bonda the of mortgage disabilities, and reduces the on from nine to ten blUlon dollars payments to those with service diswhich tbo government will guarantee the Interest, but not the prin- abilities by approximately 15 per the same perceiewge of reduccipal It la expected the govern- cent, ment's guarantee of Interest will tion as that made In the wages of make thCi.jnda marketable at a government employees. The economies that either have comparafe 07 low Interest rate. Farm KO ire have urged a gov- been, or are expected to be, effected ernment guarantee of the principal cover the reduction of 15 per cent on such bond Issue, but such a guar- In the wage of all government emantee would make them e direct ob- ployees made by the President; reduction In veterans' benefit and ad ligation on the government, and mean almply an lncreaaa In tba na- ministration now made; reorganbutional debt of nine or ten billion isation of the departments and reaus in the branch administrative dollars. Guaranteeing the Interest only means that should there be of the government, for which th n complete default on the pert of President has authority, aod on which he la now working; postal the farmers, which la never probwould have from service economies, now being conable, the treasury three hundred to four hundred mil- sidered. When ell have been comlion dollara to pay annually until pleted the following savings will beam, eff ecled-v.--- ; the bonds hadBwtared ' ' 'l v1' VhTt V.t.rwni' b.n.flt aaS administration (411, 144,04 Is a growing belief In Reorganisation of THERE branch of that the budget will In tbo gov.rnm.nt. not be balanced during the next abolition of eluding fiscal year beginning July 1, regardfunction 114,444.444 less of the economies made by cutReduction In the pay of government employees 114,004,404 ting the pay of government emFoetal eervlce economies Tl.444,444 ployees, reorganization of bureaus and departments, and reductions In Totei iue.eie.oes payments to veterans, amounting to Among the new expenditure that an expected total of some seven hunwill offset thee savings Is the sp dred millions, and regardless of an propriatlon of five hundred million added revenue from the tax on beer, dollars as a gift to the states to be estimated at about one hundred and used for relief, and fifty million. the reforestation plan of the PresiThe relief grant of five hundred dent which congress has authorised,-tnmillions provided for In a bill now which involves an expenditure before congress, and the two hun- of not less than two hundred million dred millions for the reforestation dollars. plana, will alone offset the economies. It le probable that the more Communists object te ambitious plans of the President will MEXICAN Daniels as Americas be financed through new bond Isambassador at Mexico City. Posteri sues, but there will be increased In- captioned "Out With Daniels" bars terest charges end a slnklig fund appeared on walls In the capital to provide for which will run Into They call him the murderer of hundreds of mlmons annually. Axueta aud Uribe." These men Along with these things tax yields were Mexicans who were killed la are falling short of estimates the fighting when United States of the continued prostration force landed at Vera Crux In 1911 of business. At that time Mr. Daniels was secretary of the navy. million dollara to hundred FIVE provided b.v the federal government and distributed as unem- T 1 KDER authority granted him by congress the President has or ployment relief by the states is dered a 15 per cent cut In the pay called for In a bill of all federal employees, effect! vi Introduced In the April L The order affegts the emsenate by Senators ployees In nil departments Including of New Wagner officers and enlisted men la th Tork. Costlgan of army and navy. Post Office departColorado, and La ment, end eH others on the governFollette of Wlscon ment pay rolls, a total of approx! sin. mately 800,000. The bill provides The authority given by eongreei that the huge sum provided for such cut as reduced hall be given out living expenses might warrant ug right to auch states to a total of 15 per cent An lo as shaflapply for vestl gallon of living costs made bj aid, and places the the Department of Labor showed f responsibility for decrees from June SO of last yeai seeing that the money la given wisely In the hands of a "federal relief tothe present time of 2L7 per cent the strength of that report thi administrator." This official would be appointed President ordered the cut la pay U limit of that allowed by the termi bythe President, with the consent the of the economy law. It Is set! of the senate, and carry on his duties Independently of any other dfr mated the earing to the government wlU be approximately 125,000,001 partmenL The Reconstruction Finance eor- - annually. cI?nvQ e -- till, WMt.ru Rnwwe Dlba to GOODYEARS FAMOUS TREAD WITH ALL-WEATH- Full CENTER Traction Safety, durability and value in the extreme proved by the fact thatt more people ride on Goodyear Tires than on any other kind. Better fill all your tire need right now its literally true you may never buy these peak quality tires at prices so low again! - T3wm y Prices As Low as 4.40-2- 2 $5.65 Other sizes proportionately Low. Tftin P aulorAutoiJo; EDon9ft Waoatt M m. its In every town home, on every farm, there is something of value the owner does not want, can not use. But somebody else DOES want it and COULD use it to advantage IF THEY HAD IT. . i i Let this paper sell it for you. You will be surprised what a little 25c or 50c For Sale add will do. These are days when everything should be put to good use - when nothing should go to waste. at . . - i Make a list of your surplus articles and bring the little ad to us. Their possession at reduced cost will make some other person happy, and youArill be just that much better off. r Mag na imes' t y. |