CREDIT EXPANSION
MR. ROOSEVELT'S PLAN COMMENT IN THE PRESS NEW YORK, April 15 Commenting on President Roosevelt's credit expansion programme, the Washington correspondent of the New York Times says most of the leaders in the House of Representatives and the Senate have joined in commending the programme, though two of the foremost opponents of the Reorganisation Bill, Messrs. Byrd and O'Connor, outspokenly attacked it as wasteful. The New York Times in a leading article says: "Once more the Roosevelt Administration has chosen to pour water down into the well instead of mending the pump. The Administration has once more confused cause and effect. This confusion, if persisted in, promises to lead to a tragic end." The New York Herald-Tribune says: '.'The President has ceased to lead except in the field of spending. How this vast inflation is to effect lasting betterment there is not even an effort to suggest. Thus, for real measures of recovery the country must look to Congress."
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Bibliographic details
New Zealand Herald, Volume LXXV, Issue 23015, 18 April 1938, Page 10
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161CREDIT EXPANSION New Zealand Herald, Volume LXXV, Issue 23015, 18 April 1938, Page 10
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