RAPID DECLINE

Wanganui Chronicle, Volume 80, Issue 101, 2 May 1938, Page 7

RAPID DECLINE

American National Income FASTEST IN HISTORY UNEMPLOYMENT MOUNTING THREE MILLION MORE MEN .By Teles: aph— Press Association—Copy right J Received Max' 1. 6.30 p.m. WASHINGTON, April 30. Mr. Harry L. Hopkins, Federal Relief Administrator, said that the national income had decreased twelve billion dollars in six months and three million men had been thrown out of work. He expressed the opinion that the decline was the fastest in history. ANOTHER DEFEAT . NEW DEAL PROGRAMME BILL HINDERED BY RULES COMMITTEE WASHINGTON, April 29. President Roosevelt's New Deal programme suffered another defeat when the Rules Committee of the House of Representatives, disregarding a virtual mandate from the President, voted to bottle the new Wages and Hours Bill in committee for the remainder of the present session. Supporters of the Administration immeditely began a movement to discharge the Committee and force the measure to the floor of the House, but ' it is believed that the time available ii insufficient in the present session-. THE TRUST LAWS EXPANSION PROPOSAL APPROPRIATION ASKED FOR WASHINGTON, April 29. President Roosevelt has sent a message to Congress asking for an appropriation of 500,000 dollars for comprehensive study of anti-trust problems, and a special appropriation of 200,000 dollars for expanded enforcement of the present trust laws. He declared that seven specific problems required attention by Congress, the principal ones being improvement of the present anti-trust procedure, scrutiny of mergers, and interlocking relationships, and scrutiny of investment trusts and bank holding companies.

15 PER CENT. CUT RAILWAY WORKERS CHICAGO. April 29. Thv American Association of Railways has decided to reduce wages by 15 per cent, on July I. It is estimated that the saving will amount to £250,000,000 a year. •‘The present financial condition of the railways is more des|M*rate than in 1932, when a 10 per cent, reduction was a<cepted voluntarily by the employees,*’ it was stated. OCEAN VACATION ROOSEVELT LEAVES ABOARD CRUISER Received May 1, 8.20 p.m. CHARLESTON. April 30. Mr Roosevelt sailed aboard the cruiser Philadelphia on an ocean vacation which may take him as far south as the West Indies. The de stroyer Fanning accompanied the Philadelphia for the purpose of acting as communication vessel. The trip is expected to last five to six days.