FEAR OF DEPRESSION IN U.S.
- Press Assn.—
President Considers Plan to Stem Downward Trend GOVERNMENT SPENDING?
(By Telezraph-
•Copyright.j
(Received 10, 8.45 a.m.) NEW YORK, Nov. 9. The Washington correspondent of the New York Times says that, alarmed by the recent stock and business recessions, President Roosevelt had a fourhour conference with ledding figures of the New Deal to determine steps for the stemming of these movements. They advised that Federal spending must be resumed on a grand scale or private capital induced mto a new construction drive if a new depression is to be stopped. It is feared that the business curve of 1938 may sink to the lowest point since 1935 The President is believed not to have made a decision yet, but he said that he was determined to act in order to stop the dangerous downward spiral of economic conditions.
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Bibliographic details
Hawke's Bay Herald-Tribune, Volume 81, Issue 40, 10 November 1937, Page 5
Word Count
144FEAR OF DEPRESSION IN U.S. Hawke's Bay Herald-Tribune, Volume 81, Issue 40, 10 November 1937, Page 5
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