STATE INTEREST IN BUSINESS.

Timaru Herald, Volume CXXXIV, Issue 18818, 5 March 1931, Page 9

STATE INTEREST IN BUSINESS.

Attitude of President Hoover. MUSSEL HOALS PROJECT VETOED. United Press Association—By Electrlo Tel egraph—Copyright (Received March 4, 7.5 p.m.) WASHINGTON, March 3. President Hoover added another to his increasing list of vetos of important Republican Party measures when he returned to-day to Congress, without approval, the measure for the Government operation of Mussel-Shoals hydro-electric and nitrate fertiliser project, in Alabama, which began as a war measure. President Hoover, condemning the principles of government in business, accompanied the veto with a lengthy and minute analysis of the engineering and cost factors involved. He pointed out that the undertaking would require an outlay of 127,000,000 dollars of which 100,000,000 dollars would be required from the Treasury immediately, and the entire enterprise would entail an annual loss of approximately 2,000,000 dollars. The President concluded. “I am firmly opposed to the Government entering any business, the purpose of which is competition with our citizens. It is the negation of the ideals on which our civilisation is placed. I hesitate to contemplate the futture of our institutions, our Government and our country, if the preoccupation of its officials will be no longer the promotion of justice, equality, and opportunity, but be devoted to barter in the markets. That is not liberalism; it is degeneration.” The measure is not expected to command sufficient support for re-pass-age over the veto. Legislation Killed. The legislation was killed when the Senate failed to over-ride the veto at a late night session. The vote was, co over-ride, 49; to sustain, 34. Therefore the attempt to repass failed by six and one-third votes of the requisite majority