Show THE TIIE PRESIDENTS PROGRAM I 1 In his l Message to Congress P President resident Hoover first outlined i i ithe the steps already taken to meet the economic situation 1 ti b Appropriations for forte the continued con- con speeding up of the glea great construction program organized unity of action on the part of states and municipalities municipalities I to maintain large programs programs programs pro pro- grams rams of public improvement extensive construction on the I part art of many industries available available avail avail- able ble work in the case of many industrial concerns and other employees instead of discharging ing a portion of them wages maintained by a large majority of employers at as high levels as the safe conduct of business would permit industrial trial conflict conflict conflict con con- and disorder which have characterized all previous u depressions depressions depressions de de- de- de avoided immigration tion curtailed by administrative tive action shutting out some aliens who otherwise would have been added to our unemployment effective expansion expansion expansion ex ex- of our Federal em- em agencies organisation organization for relief relict last winter and H- H organizations organizations organ to function during the corning winter government ro loans for rehabilitation in the drought areas credits credit guaranteed guaranteed guaran- guaran I teed by the Federal Farm Board to farm coop cooperative which saved many of them from fram bankruptcy and in so doing ling do l 10 ing prevented the failure of a large number of farmers and of country banks the speeding up of the National Credit Association Association Association As As- with resources of million dollars steadying th the tho bank situation against frightened frightened fright fright- ened and hoarding hoarding- I Pa Pausing Parsing sing sing- from this review of f 1 s gs already done clone of incalculable incalculable incalculable lable value to the business of the country the President recommended recommended re- re re t commended the following meat measures mea- mea j sur sul es s to expedite further economic economIC econ- econ recovery f Ve We must have insistent and determined reduction in government gov gov- expenses We Ve must face a temporary I increase in taxes Such Ch in inI increase in- in n- n crease should not cover the wh whale le of the deficit lest it retard re re- tard Lard recovery but hut these thee must be e met in part by borrowing Additional taxation should be b imposed solely as an emergency emergency emer emer- gency measure terminating deI de de- I nevi finitely i IY two years from July 1 L' L Congress gress should authorize the subscription by the Treasury Treasury- io lof of further capital to the Federal Federal Fed Fed- eral oral Land Banks that they may continue their services to ag- ag J an and meet th the tho resent j-resent errs w eat ent situation with consideration to the farmers farmers- A method should be advised to make available quickly to the depositors some portion of of-l their deposits in closed banks as us the assets of such franks banks anks may warrant t 1 there here should be established a system of home loan discount discount discount dis dis- count banks as the fhe necessary I companion in in our financial structure of the Federal Reserve Reserve Re Re- serve erve Banks and our Federal r Land Banks effectually ally to o promote promote pro pro- mote emote home ownership I An Hn extension during emergencies emer- emer of the I j i eligibility provision provision pro- pro i I vision of the F Federal Act I Improvement of the banking banking- laws antis to provide a 1 system n i which shall be safeguarded safe- safe guarded and the flow of credit less subject to storms barlY consideration should I be given to recommendations recommendation by the Interstate Commerce Commission looking to the stability of railway finances such buch modification of the trust Anti L Laws ws as can safely I I i be made that tha t will i prevent t destructive des des- desI I I comp competition among in industries in- in n- n j founded upon natural resources such as as- coal oil and lumber j i Effective regulation reg regulation of interstate interstate inter inter- f state state electrical power powe j t i Deportation laws should be and aliens lawfully lawfully lawfully law- law fully 7 in in the e country should be protected by a certificate of residence The president declared I his his his' opposition to an any direct or indirect indirect in in- direct government dole to general revision of the tariff i j and nd ei r extension of e. e expenditures ex- ex expenditures for veterans' veterans relief fr the th ft h has haq a recovered covered from the present situation Bills to carry into effect the Presidents President's recommendations recommendations' t as above outlined outline d have s V i t either eithe already been intro introduced Bused into Congress or will sae soon n be pre I |