Vagabond Editoriafs

(Continued from Page 7) in the Authority who listened patiently while this lumberman presented his questions. And, when the list was ended the official smilingly asked: "Now, old man, why don't you just READ THE CODE? For every question you have asked is answered and explained perfectly plainly in the Code itself. There was no need for you to come to Washington. We have no authority to change a word in the Code. And, all your questions are answered in the Code so that your little boy can understand them." And, lots of others do the same. They won't read the Code; or if they do they write or wire or phone Washington to ask if the wording of the Code is exactly what is meant, etc. And, the boys at Washington patiently answer: "The Code is the law. We cannot change it. What it says, it means.t'

Some folks actually get huffy because Washington won't find some way to interpret some plain declaration of the Code to make it mean not exactly that. In one place the Code says that a certain person and that person "alone" can do a certain thing. And, rnen write in to ask if that means that no one but that person can do that thing. Etc., etc., etc. Read your Code. If you have a problem take it up with the administrative body in your own group. And, only as a last resort, and as an appeal giving the Authority full knowledge of the case, take it to Washington.

In a large portion of the country the retail lumber industry is taking a lively interest in a proposed law which U. S. Congressman Warren J. Duffey, of Ohio, is to introduce at this session of Congress. It is expected that the retail Iumber industry generally will be asked to get behind the law and see that it is passed. This law would provide a government fund of $500,000,000 to finance the construction of homes to cost $6,000 and up. (It being the understanding that under $6,000 financing is going to be done by RFC.) This bill will provide for loans on homes, apartment buildings, and duplexes, the limit per unit to be $20,000. The outline of the plan is that the Government shall loan this money to existing building agencies such as building and loan associations, insurance firms, savings banks and trust companies at 4Vo interest, and the agencies shall re-loan it to builders at not over Sf/s interest with 18 years to pay, loans to be not over 75/s of the combined cost of house and lot. More of this plan will be found elsewhere in this issue.

I'm inclined to stoutly favor this law, without having given close study to its detailed provisions. I'm for any sensible and practical effort to allow government, with the huge sums of money it is broadcasting throughout the land, to finance the building of homes. I utterly fail to understand why the Recovery Administration itself, shooting in all directions in its effort to create employment, has not seen fit to finance home building for that very purpose. Certainly there is no fashion in which money can be spent that will give more substantial employment and leave behind sound values for the money, than in the building of homes. Long teffn money at low rates of interest for home building would immediately put millions upon millions of men to work at REAL productive employment, and when they finished we would have a land of better homes to show for the money. Five million men could be put to work in 90 days, and kept working for more than a year, if the same sort of terms were ofrered for home building that are ofrered for public works.

What an impressive lesson in "u/im, wigor, and witality" the motor car industry is giving the rest of the [usiness world right now. As this paper goes to press the annual automobile show in New York City is the best, the biggest, and the most progressive in the history of the motor car industry. Instead of back-tracking, or of retrenching to fit retrenched incomes, the motor car industry is showing more advances in motor car construction than was ever dreamed of before. They are all making bigger, better, faster, easier-riding, more luxurious cars than ever before. Instead of 'taking a step backward. because the depression is still on, the auto industry takes its greatest stride FORWARD.

**{.

And their optimism is rock-walled by the things that have been happening to their own corporation stocks. Just as an example: Auburn stock is 81 per cent higher today than it was during its lowest point in 1933; Chrysler stock is 638 per cent higher-the difference between 8 and 59; General Motors is 260 pef, cent higher; Graham page is 200 per cent higher; Hudson is 400 per cent higher; Hupp is 100 per cent higher; Nash is L2? per cent higher; packard is 100 per cent higher; etc., etc. And, wonderful as it may seem, they are looking for one of the very biggest selling years of their history in 1934. Can you beat it?