UNEMPLOYMENT INSURANCE

Press, Volume LXX, Issue 21323, 16 November 1934, Page 11

UNEMPLOYMENT INSURANCE

* AMERICAN PLAN ACTUARIAL SOUNDNESS INSISTED ON MR ROOSEVELT EXPLAINS HIS INTENTION (CHITED PRESS ASSOCIATION—BI BLECTBIC TELEGRAPH—COPYRIGHT.) (Received November 15, 8.20 p.m.) WASHINGTON, November 14. Mr Roosevelt to-day outlined that part of his programme of economic security which he will press before Congress. He will ask for unemployment insurance as a co-opera-tive federal and state undertaking, supported by contributions, not taxation, and with funds held and invested by the Federal Government. He issued a warning against allowing "this type of insurance becoming a dole through mingling insurance and relief. It is not charity. Let us profit by the mistakes of foreign countries and keep out of unemployment insurance the sort of dole of which every element is actuarially unsound." He indicated that he was not yet ready to institute old age and sickness insurance. "Our first task is to get the economic system to function so that there will be greater general security," he declared. HUGE PROPAGANDA CAMPAIGN INVESTIGATION OF PUBLIC UTILITY COMPANIES COMMISSION'S CRITICISM (Received November 15, 10.20 p.m.) WASHINGTON, November 14. A propaganda campaign paid for by the public, and of greater magnitude than any other ever undertaken except possibly by governments in war-time, was attributed to the utility companies of the United States to-day by the Federal Trade Commission in the first instalment of its final report after a six-year study of utilities. The report questions the right of a publicly-granted monopoly such as a public utility to use money collected from the public to perpetuate itself through control of public opinion. •

RADICAL MOVES IN LOUISIANA APPLICATIONS FOR PRIVATE MORATORIUMS (Received November 15, 9.20 p.m.) ROUGE (Louisiana), November 14. One of the most sensational pieces of economic legislation ever enacted by a state received the approval of the lower body of the Louisiana State Legislature to-day, and is confidently expected to be passed by the upper chamber and approved by the governor. It provides that citizens may apply to the state banking commissioner for a moratorium on all debts, except to Government taxing bodies. The state will, moreover, pay the cost of defending the debtor if the creditor takes the matter to the courts.

The measure, which will remain in effect until 1936, was sponsored by Senator Huey P. Long, whose control of Louisiana politics is said to make him virtual dictator of the state governmental affairs. He explained to-day that if nations could decline to pay intergovernmental debts, hard-pressed private citizens certainly had the right to demand respite.