New York Press Criticism

Northern Advocate, 24 June 1939, Page 9

New York Press Criticism

NEW YORK, June 23

Commenting editorially on the new recovery proposal, the “New York Times” expresses doubt at the statement that the scheme will not cost the taxpayers a cent. It adds; “Among the projects the President lists is help for hospitals. With a few exceptions, the hospitals operate at a loss. “Loans to foreign Governments also are too likely to be involved in political considerations to be considered self-liquidating. All the programme will do is to increase the Government’s contingent debt and carry us further in the direction of Govern-ment-controlled economy.” In a leading article headed “Panic Spending,” the New York “HeraldTribune” says the programme is plainly one of politcal desperation—a catchall for all Administration schemes. The journal adds;

“The President thinks business should be non-competitive. Would not the Government be competing directly with the private banking system? Is not investment and hanking an established form of business enterprise? “The statement that the projects would be self-liquidating will be received with much scepticism. If there are sound local projects, then, muni-

cipalities will not need the Federal Government’s help to carry them but. As for foreign loans, there is a growing feeling that the Administration has been taking excessive advantage of the public state of mind to extend loans which are more political than business in nature.”

Four Arabs, including the notorious murderer Suleiman Nadawi, were killed in a clash with troops a't Jerusalem. By special arrangement, Renter’s world service in addition'. to other special sources of information is used in the compilation of overseas intelligence published in this issue and all rights therein In Australia and New Zealand . are reserved.