Economy

President Hoover insisting that there be no economies that would enhance the present unemployment situation.

Further examination of possible economies was outlined at the conference with the results to be considered later.

As I have said before, that compares with the rate of about $275 million before the depression.

The whole business situation would be greatly strengthened by the prompt completion of the necessary legislation of this session of Congress and thereby the unemployment problem would be lessened, the drought area indirectly benefited and…

There is no question but that funds are needed.

I regret that the Government should be absorbed upon such questions as the action of the Power Commission in employment or nonemployment of two subordinate officials at a time when the condition of the country requires every constructive…

The situation of the railways...is one of the, if not the greatest, economic problems that we have confronting us.

It means lower rates, and lower rates cannot be made except by broad economies in methods, or alternatively, by wage reductions.

Someone has offered him two or three times the pay the Government can afford, and he has responsibilities to his family that I cannot deny.

This compares with the rate of about $275 million per annum prior to the depression.

So that the Federal Government will in the next calendar year be expanding from the rate of about $250 million in nondepression period to about $700 million in depression period.

The result of which is to impose this sum upon the regular budget and in effect increase emergency relief by that amount.

Less than two million represent new items.

Prosperity cannot be restored by raids upon the Public Treasury.

The test of the value of such relief is the ability to pay wages between now and the end of the fiscal year, and I therefore urge that this estimate be given early consideration.

Programs now authorized will carry it to still larger figures in future years.

I think everybody is agreed that if we can do that for $2 1/2 million it is a wise expenditure on behalf of bad feeling (?).

We can save a very large amount on construction cost.