U.S.A. INFLATION

Grey River Argus, 15 May 1933, Page 5

U.S.A. INFLATION

TO RAISE FARM PRICES An important Measure (Aus. & N.Z, Cable Assn.) WASHINGTON, May 12. President Roosevelt to-day signed a massive Bill to raise United States farm prices, giving him extraordinary inflationary powers and enabling tho casement of the agricultural mortgage bu rden. NEW YORK. May 12. The ‘‘New York Times’’ Washington correspondent says: The most farreaching piece of legislation since the war to lift the United States out ot lhe depression was made ready lor submission to the House of Representatives, to-night. It will be known as tho National Industry Recovery Bill, and will combine a gigantic plan for Federal control of industry, a 3,300.000,000 dollar public works programme, and a manufacturers’ sale tax in order to provide the funds necessary for certain aspects of the scheme. Mr Roosevelt will be given virtually complete control over public, improvement's. lhe policy of the Government, and, through a Board of Five, complete powers of supervision over industrial production, prices, wages, and hours of work. ROOSEVELT NOT GOING TO LONDON. WASHINGTON, May 12. It was again emphasised at White House to-day that President Roosevelt has no intention of attending the T.ondon World Economic Conference.