Director, who occupies the most Influential position in the President's entourage at the moment and Mr. Harriman, President of the Chamber of Commerce, joined together in a pledge of mutual ce-operation to encourage private industry to renewed efforts. At the same" time the Bankers who had been encouraged President Roosevelt's conciliatory address at their annual convention just before the elections were further encouraged by renewed deferlence which was paid to the Federal Reserve Advisory Council, a body) elected by the commercial bankers of the country which had previously been at loggerheads with the politically "appointed Federal Reserve Board. Encouragement was given that the Administration was anxious to preserve the soundness of the dollar while as @ practical demonstra-ton the American stabilization funds was, it was generally held, used to support the gold bloc currencies. The Housing Administration, headed by James Moffett was thrust into the foreground as the spearhead of the new drive. The Housing administration is based upon the encouragement of private building aided by private Joans not government construction believed that Reform and Recovery should go hand li hand, with: his!
Text read from the printed page and cleaned; old type leaves the occasional error.