AMERICA’S DIFFICULTIES

Otago Daily Times, Issue 21953, 15 May 1933, Page 7

AMERICA’S DIFFICULTIES

MEETING THE SITUATION CONTROL OF INDUSTRY HUGE PUBLIC WORKS PROGRAMME (United Press Association.) (By Electric Telegraph—Copyright.) NEW YORK, May 12. The New York Times’s Washington correspondent says: “The most farreaching piece of legislation since the war to lift the United States out of the depression was made ready for submission to the House of Representatives tonight. It is known as the 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' sales tax in order to provide tiie funds necessary for certain aspects of the scheme.

President Roosevelt will be given virtually complete control over the public improvements policy of the Government, and, through a board of five, complete powers in the supervision over industrial production, prices, wages, hours and work.

RAISING FARM PRICES. EASEMENT OF MORTGAGE BURDENS. WASHINGTON, May 12. President Roosevelt to-day signed a massive Bill to raise United States farm prices, giving him extraordinary inflationary powers and enabling the easement of the agricultural mortgage burdens. AMENDMENT TO TAX BILL DEFEATED. WASHINGTON, May 12. The Senate to-day rejected an amendment to the Tax Bill, which would have authorised higher tariffs on goods from countries with depreciated currencies.