Issue Number:50

Date: 07/21/1934

p. 1, c. 2

Another "New Deal" Blessing


"The Government Home Owners Loan Corporation has lent more than one thousand million dollars of government money to protect citizens from loss of their homes by mortgage foreclosure". This statement was released to newspapers early last week and is very important because it means that hundreds of families throughout this country can breathe freely without fear of the auctioneer's red flag.

From Washington comes more encouraging news; Mr. James A. Moffet was recently appointed to the new housing program in this country. His job is going to be assist people in obtaining homes of their own on easy and convenient financial terms and to enable others to secure the cash necessary for repairs needed around the home.

This latest new deal accomplishment not only promises to put a home within the reach of any thrifty and ambitious citizen, but it also promises employment to thousands of builders, manufacturers and workers that make up what is now the almost stagnant bui lding trade.

Local brick layers, carpenters and electrical workers that have not worked for years will soon be drawing regular pay checks again. Mills and factories will take on more labor and unemployed men and unemployed money will both be put profitably to work ag ain.

This latest program devised by President Roosevelt, whereby ready cash may be obtained for the buying and improving of American homes provides for the necessary stability that only a nation of home owners can offer and at the same time it guarantees work and plenty of it for idle men and idle dollars.