DICTATOR'S POWER

Auckland Star, Volume LXIV, Issue 73, 28 March 1933, Page 7

DICTATOR'S POWER

USED BY ROOSEVELT. AH Agricultural Credit Under One Agency. BIG ECONOMY EFFECTED. (United P.A.—Electric Telegraph-Copyright.) (Received 10 a.m.) WASHINGTON, March 27. President Roosevelt informed Congress to-day of an Executive ordi-r establishing all Federal agricultural credit agencies under one unit. In the same order the President abolished the stabilisation operations by the Farm Board. The new agricultural financial organisation will be known as the Farm Credit Administration and will include the Farm Board, the Farm Loan Bureau and various . credit agencies in the Department of Agriculture and the Reconstruction Finance Corporation. The President used, for the first time, the dictatorial powers granted to him under the Economy Bill, when he sent his Executive order to Congress. This action is expected to save 2,000,000 dollars annually. The President is expected to act shortly also on other reorganisations, mergers and eliminations intended to save 100,000,000 dollars.

TALKS IN AMERICA.

World Economic Problems Under Discussion. WAR DEBTS INCLUDED. (Received 10 a.m.) WASHINGTON, March 27. Discussions between Britain and America on the world economic problems were resumed on Monday at the State Department, with the likelihood that war debts would occupy consideruble attention. Mr. Cordell Hull, Secretary of State, and Sir Ronald Lindsay are negotiating. An official communique, which was issued after the conference, said that Mr. Hull and Sir Ronald had continued their economic discussions and feel gratified with the value of these talks. ° President Roosevelt on Monday discussed the pending World Economic Conference with the French Ambassador, M. Claudel, who urged that it be held as soon as possible.

Cordell Hull, the Secretary of State, was born on a farm i" Overtoil County, Tennessee, in October, 1871. In those days the village school was open only m the winter months. For the rest ot the year Hull helped with the farm work. At lo he won an elocution prize, and wae allowed to study at the Lebanon Law School. Graduating in 1891, he was called to the Bar. Two years later, when he was only 22, he was elected to the Tennessee Hou6e of Representatives. Ine Spanish-American war interrupted hie polical career. He recruited a qompany ot volunteers to help Cuba to secure her liberty, and set out at the head of his men as captain. But when they reached Havana, the United States and Spain had just concluded peace. In 1903 he was made a judge in hie native State, and held the post until 1907, when he was elected to Congress as a Democrat, retaining hie I seat with one break of two years until

1931 He was then sent to the United States Senate. Mr. Hull ie chiefly interested in fiscal and tariff questions, and is perhaps the nearest thing to a Free Trader to be found in the United btates. When, before the war, the Democrats attacked the existing tariff on account of the burden it laid on consumers, Mr. Hull showed that the necessary revenue could be obtained by imposing an income tax. When the Underwood tariff was brought in Mr. Hull's taxation plan, which revolutionised the American fiscal system, was tacked on to it. Ho believes that a series of economic agreements between nations would put an end to wars which have their origin for the most part in trade rivalries, ami favours economic co-operation between the United States and Europe. . On several occasions he was urged to stand for the Presidency or the Vice- ■ Presidency, but refused.