MEDFORD MAIL TRIBUNE, MEDFORD. OREGON, THTTRSDAT, AUGUST 25, 1932.
ROOSEVELT URGES
CLASS HATRED IS
Medf ord's Only A. B. C. Newspaper
Cabinet Officer Directs
Oregon, Montana, Washing
ton, Idaho, Utah, Wyo
ming and Alaska Are Em
braced in Eleventh District
Sharp Fire On Democratic
Candidate's Speech
Says Program Is Lacking
PAGE FOUR
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ROOKY POINT, R. I., Au 3t-iP)
In a eherp reply to Oovarnor Room
velt's Oolumbiu speech, Secretary
Hurley today charged the Democratic
candidal with attempting to "arouse
class antagonism, to capitalist flls
content, to make polttloa out of hu
man mlaery and to profit oy dlstor-
tlon of fact,"
Speaking before the Rhode bland
Republican club, the cabinet omcer
eald neither the Democrat nor their
candidate had offered a program to
Improve economic condition! and ss
aerted "the Hoover non-partisan re
construction program la itlll the only
complete logical program offered by
anyone in cr out of punilo life to
bieak this depression."
Reply to Koosevelt.
Excerpts from Hurley'a speech were
given out by the Republican national
committee which had described the
speech as a reply to Roosevelt In
Columbus last week, In which the
Democratic nominee charged Presi
dent Hoover had not been honest
with the American people.
Lauding President Hoover's effort"
to stem the tide of the depression,
Hurley said his program was "fulfill
ing the purpose for which It was de
signed." "The three major policies of the
President stand vindicated," he said.
'The government has prevented so
cial upheavals. The president's or
ganization together with all local and
national relief organizations have
cared for the needy.
Catastrophe Averted.
"We are In a depression, but we
have averted panic and catastrophe.
The economic struggle Is not over.
Battles are still raging on a hundred
fronts. While revolutions have shaken
the foundation of 18 other nations,
while nation after nation has been
driven from Its gold standard, the
United States, under the administra
tion of Herbert Hoover, Is firm, solv
ent and confident of the future."
Hurley charged Roosevelt did not
offer a single constructive suggestion
for providing Immediate employment,
nor Rive one Idea for Improving the
President's plan.
He contrasted what tie called the
"carping criticism, the unsupported
charges, the indefinite, Impractical
and floundering suggestions" of
Roosevelt's speech with the accept
ance speech of President Hoover,
which he said "for oonstructlveness
of purpose, deflnlteness of program
and for Intellectual decency," had
"already taken Its place In the minds
' of the Amerlcsn people among the
outstanding papers of the republic."
Has No Suggestions.
"Up to this moment," be said, "the
governor has not steted whether he
approves or disapproves the Hoover
non-partisan reconstruction program.
He has not at ted whether he would
continue that program In effect or
repeal It. He has not offered one
suggestion of any nature for the Im
provement of that program."
Turning to Roosevelt's suggestion
for regulation of the stock exchange.
Hurley asked:
"What did the governor of New
York do to remedy this situation
during the long period In which he
has had the power to act?"
Hurley aald New York state laws
to protect the publlo against fraudu
lent sales of securities had not been
enforced by Roosevelt, snd the Demo
cratic nomine was trying to "pass
th buck to the federal government."
He challenged Roosevelt's statement
that th depression broke first In this
country and spread sbroad.
He also denied that the Hawley
Smsot tariff was the highest. In the
world, as contended by Governor
Roosevelt, and said It was enacted
long after the depreeJon got underway.
Real Estate or Insurance Leave it
to Janes. Phone 79S.
WASHINGTON, Aug. 35. P The
13 districts which will compose the
new federal home loan banking sys
tem were snnounoed today by the
Home Loan Bank board, with district
No. I comprising Maine, Vermont,
New Hampshlrs, Massachusetts,
Rhode Island and Connecticut.
District No. 1 will embrace New
York, New Jersey, Porto Rico and the
Virgin Islands.
No. 3 Delaware, Pennsylvania snd
West Virginia.
No. Maryland. Virginia, North
snd Scuth Carolina. Qeorgls, Florida.
Alabama snd ths District of Columbia.
No. t Ohio, Kentucky and Ten
nessee. No. 0 Michigan and Indiana.
No. 7 Wisconsin and Illinois.
No. S North Dakota, South Da
kota, Minnesota, Iowa and Missouri.
No. 0 Arkansas, Mississippi, Louls
lana, Texas snd New Mexico.
No. JO Nebraska, Kansas, Okla
homa and Colorado.
No. 11 Montana, Washington, Ore
gon, Idaho. Utah, Wyoming and
Alaska.
No. 13 California, Nevada and
Arizona.
Capital Bet at $6,000,000.
The board announced that the elig
ible Institutions In district 11 hold
1200,000,000 of mortgages and the
capital of the bank for this district
has been set at 96,000,000,
No. 13 $060,000,000 mortgages.
Capital $10,000,000.
The board said It hsd not decided
upon the sites for the regional home
loan banks. It said the districts were
set up from the standpoint of con
venience, uniformity or law and mort-'
gage practice snd the availability of
mortgages.
Minimum CapltsI Named.
In allocating th districts the min
imum capital for th regional bank
was chosen ss necessary for th maxi
mum Immediate benefit, th board
said, adding:
"In so doing w have considered
the probability that wisely managed
home loan banks will foster th de
velopment of long term mortgage
lending Institutions at moderate rates
of Interest in each district, which
should within a reasonabl time
strengthen th capital resource of
such Institutions to the point where
their subscriptions tor stock can take
up th Initial advance from the treasury."
UNION PACIFIC CHIEF
TO BE TRANSFERRED
PORTLAND, Or., Aug. 38. (AP)
A. S. Edmonds, assistant traffic man
ager of the Union Pactflo system,
said today Warren K, Cundlff, gen
eral passenger agent for the railroad
her alnoe 1D37, will be transferred
to the Denver offloe September 1 and
will be succeeded by John P. Cum
mins, now general passenger agent at
Omaha. .
t
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