TRADE RECOVERY

Hokitika Guardian, 5 April 1933, Page 5

TRADE RECOVERY

ROOSEVELT’S PLAN

ADJUSTMENTS OF TARIFFS.

(United Press Association —By Electric Telegraph—Copyright).

WASHINGTON, April 4

President Roosevelt’s complete programme for the relief of agriculture was expounded to-day in a message which, he presented to Congress. In this he not only asked for the extensive re-financing of farm mortgages, but he declared that he would soon ask Congress for “legislation enabling us to initiate practical reciprocal tariff agreements to break through trade barriers and to establsh foreign markets for our farm and industrial products.”

This, together with legislation that is pending, designed to raise the price of cereal commodities to the pre-war levels, constitutes the . general outline of the promise the Premier made dur r ing the presidential campaign.

At White House it is said that the State Department has already opened informal negotiations with several countries looking to tariff adjustments, and that definite moves in that direction would be made as soon a& legia* lative permission is granted..

OTHER AMERICAN PROPOSALS,

FARMERS’ AID AND TARIFFS.

WASHINGTON, April 3

Legislation - to establish a thirtyhour week has been taken up by the Senate for consideration, having emerged from the House Labour Committee with unanimous approval. Thfj Bill would compel private industry to adopt atliirty-hour week, and would penalise the inter-state movement of products made by labour working longer hours. A stupendous departure in farm relief, a two-billion-dollar plan • for reducing the agriculture mortgage burden was put before Congress to-day by President Roosevelt, who, in a special message, advocated a plan under which 4 per cent bonds . could be issued by the Federal Land Banks, to be used either by exchanging them for outsanding mortgages, or making new loans.

He stated that he would shortly propose an extension of the moi'tgage programmes, so as to relieve the burdened owners of small homes. The President added that he would also ask for legislation permittting him to initiate reciprocal tariff agreements with foreign nations. The Senate Agriculture Committee has approved the Administration’s Farm PrioO-RaLsihg Bill. It proposes to study the 1 new Bill immediately and to report both nieuHimni, n« one, to the Senate,, before tomorrow night,