AMERICAN CREDIT PROPOSALS

Timaru Herald, Volume CXXXVII, Issue 19604, 26 September 1933, Page 7

AMERICAN CREDIT PROPOSALS

PROGRAMME MAPPED OUT PLANK IN RECOVERY PLATFORM United Press Association —By Electric Telegraph—Copyright (Received Sept. 25, 7.5 p.m.) WASHINGTON, Sept. 24. President Roosevelt and the Government financial leaders mapped out a programme for credit expansion in a conference at White House that centred on the release of funds in banks and in closed banks. It emphasised the country’s credit structure in contemplation. This is accepted generally as definitely eliminating at this time any inflation of United States currency. It means that the Government is going to use every power to put into circulation the money now lying idle in the banks’ tills and the funds locked up in closed banks. President Roosevelt is primarily interested in co-ordinating all Government financial agencies so as to assure fill support to agriculture and business in the prices lifting recovery programme. WORLD TRADE DILEMMA. . AMERICAN AGRICULTURAL. ADJUSTMENT. United Press Association—By Electric Telegraph—Copyright (Received Sept. 25, 10.30 p.m.) WASHINGTON, Sept. 24. Mr Wallace (Secretary for Agriculture), said in an address to-night that unless world trade was restored 40,000,000 acres of United States land must be taken out of cultivation. “President Roosevelt, Mr George Peek and all of us in the agricultural adjustment administration are convinced that this dilemma of bursting warehouses and starving multitudes must be solved,” he said.