Word: nra
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Last week Secretary of Commerce Roper undertook to explain the "apparent inconsistency" between the Government's policy of retrenchment and the NRA's policy of expansion. His prime points: 1) Business and industry began to deflate expenses immediately after the 1929 crash whereas for four years the Government added 10,000 workers to its payrolls and attempted to maintain salaries at boom levels in a further attempt to break the depression. 2) This Federal policy produced a series of Treasury deficits which the country voted to end in the election of Franklin D. Roosevelt. 3) The Government...
...Washington who refuses to recognize the "law of necessity" or any other law that is not in black & white is Comptroller General John Raymond McCarl. With Comptroller McCarl the President's NRA program collided for the first time last week, and came off second best...
...contract at 2⅝? per yd. with Delta Finishing Co. of Philadelphia. The finished product the Department of Justice sells to the War Department at a fixed price. With the job about half done, the Delta concern lately informed the Justice Department that it was now operating under an NRA code, that costs had gone up 35%, that it could not complete its contract without more money from the U.S. The Justice Department was agreeable, provided the War Department paid more. Attorney General Cummings put the issue up to Comptroller McCarl who ruled last week...
...promptly announced that President Roosevelt would seek a special law from the next session of Congress to adjust Government contracts to NRA costs and thus get around the McCarl ruling...
...month the Speculative Investment Trust of Fort Worth, Tex. registered a $250,000 issue with the Commission. Its registration papers were found to be inaccurate and incomplete. It failed to file its advertising prospectus-addressed to "Dear Friends & Backers," promising "Big, Quick Profit Winnings," and adorned with a large NRA Blue Eagle. The concern was ordered not to sell any of its stock, under pain of $5,000 fine and five years imprisonment, until it fully complied with...