Nationwide response to the request for increased construction and improvement work by public authorities, railroads, utilities, and industries is having a most material effect.

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.

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…

Available money for mortgage purposes of home building and agriculture has lagged behind other forms of credit.

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

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

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

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.

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…

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…

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