If the board finds it necessary to have further funds it should be possible to make provision for them in ample time, as Congress will no doubt be in session by the time they are required.

The total construction work for 1930 seems assured to be larger than even 1929.

But a decrease in demands of policyholders for loans on the insurance companies and the action recently taken by the Federal Reserve System should result in increased supplies of credit, especially for residential building, which in turn…

The undertakings to maintain wages have been held.

The Departments of Commerce and Labor are engaged in the usual monthly survey of business and unemployment and especially of the results obtained from the measures which have been in progress since the last of November, to reduce…

The low point of business and employment was the latter part of December and early January.

All the evidences indicate that the worst effects of the crash upon employment will have been passed during the next 60 days with the amelioration of seasonal unemployment, the gaining strength of other forces, and the continued…

The amount of unemployment is, in proportion to the number of workers, considerably less than one-half (probably only one-third) of that which resulted from the crashes of 1907–08, and 1920–22 at this period of the situation.

Measures taken to ameliorate interest rates have resulted in continuous decrease since December, and money is available at lower rates for business and commercial purposes.

Unemployment amounting to distress is in the main concentrated in 12 States.

Since that time employment has been slowly increasing and the situation is much better today than at that time.

This Executive order shall become effective on July 1, 1930.