MUST HURRY.

Auckland Star, Volume LXV, Issue 17, 20 January 1934, Page 9

MUST HURRY.

HINT TO CONGRESS.

ROOSEVELT DESIRE.

Necessity for Passing New Money Bill. REPUBLICAN OPPOSITION. (United P.A.—Electric Telegraph—Copyright) (Reeeiverl 12 noon.) WASHINGTON, January 19. Wild fluctuation of exchange rates 011 the New York and European markets, plus the Government's necessity to push heavy refinancing operations, caused President Roosevelt to urge Congress to hurry action on the monetary bill. He said enactment by Tuesday was imperative.

The House of Representatives votes to-morrow, but the Senate is inclined to give more deliberation to the matter. Senator Glass (Republican) renewed his attack. He is apparently not satisfied with the minor revisions made.

He said that the constitutional opinion of Mr. Homer S. Cnmmings, AttorneyGeneral, on the measure was not complete, and declared that a Supreme Court decision had affirmed that Congress had a right to acquire private property, but vested the appraisal of the value thereof in the courts.

Senator Glass termed the new certificates to be given in exchange for the Federal Reserve gold as "worthless," saying that the Government was offering paper that was "repudiated in advance."

The bill made some progress in Congress yesterday, Readers in the House agreeing to vote upon it on Saturday without extensive committcs hearings.

The Currency Committee of the Senate held a long, secret session and will hold several public ones later. The, Govemor of the Reserve Bank, Mr. Black, told the committee that he does not, as erroneously reported on Tuesday, favour nationalisation of gold. He said he had informed Mr. Roosevelt previously that he would object strenuously to the Treasury acquiring it by an executive order and insisted that Congress should decide the matter.

WAR ON THE CODES.

Republican Attack Launched

In Congress.

OFFICIAL VINDICATION.

WASHINGTON, January 19,

Attacks on the N.R.A. codes were made in the Senate yesterday by Messrs. W. E. Borah (Idaho) and G. P. Nye (North Dakota), both Republicans. They said the codes were detrimental to small businesses.

Mr. Nye alleged that consumers were mulcted by the price-raising and pricefixing provisions.

Mr. Borah predicted that the Government's recovery efforts would be nullified unless the anti-trust laws were enforced.

General Hugh Johnson, chief administrator of the N.R.A., delivered a speech in New York in defence of it. He challenged its critics and hinted at the alternative of a revolution if the scuttlers -of the recovery programme were successful.

General Johnson predicted a movement in Congress to repeal the Recovery Act. He said: "It will not be a forthright, open motion for repeal, but a flank attack by those who would return to the old order." /

The Administration was ready to meet the onslaught of its critics, said General Johnson. He challenged them to produce a positive counter-programme.

Admitting that some mistakes had been made in the writing of the codds owing to haste, General Johnson promised that these errors would be rectified.