Financial aid

“ Several societies have instructed their representatives to pay certain sums towards the formation of a general fund, from which, if it continues to accumulate, as we hope, it will, much good may be expected to our common cause, particularly in furnishing aid to those societies who are deficient in pecuniary resources. ”

“ The first is to recognize the need for raising revenues for the financing of our expanding economic development program, and then to act boldly and manfully upon that need. The economic development requirements for which we must find financial support are as diverse as they are essential to our continued progress and well-being. ”

“ Authority to make necessary adjustments to data and collect needed data.—In determining the size of the caseload of a State and the expenditures of a State for basic assistance, non-recurrent short-term benefits, and subsidized employment, during any period for which the State requests funds under this subsection, and during the emergency fund base year of the State, the Secretary may make appropriate adjustments to the data, on a State-by-State basis, to ensure that the data are comparable with respect to the groups of families served and the types of aid provided. ”

“ As the organization grows, State-aid should be secured for a portion of its expenses, that a more permanent character may be given it, and it may not be suddenly too much crippled by a business depression or disaster. ”

“ On the one hand it is said that the relief department is in the control of the corporation; that by reason of their exigency the employees may readily be constrained to become members; that the relief fund consists in larger part of contributions made from wages; that the acceptance of benefits takes place at a time when the employee is suffering from the consequences of his injury, and, being seriously in need of aid, he may easily be induced to accept payment from the fund in which, by reason of his contributions, he feels that he is entitled to share ”

“ Every great revolution in industry, in population, and even in knowledge, brings with it new and special wants, and [Pg 299] there are cases in which assisted emigration is one of the best forms of charity.
These are but a few illustrations of the directions in which the large surplus funds which many of the very rich are prepared to expend on philanthropic purposes may profitably go. There is a marked and increasing tendency in our age to meet all the various exigencies of Society, as they arise, by State aid resting on compulsory taxation. ”

“ But they can supplement the efforts of these organizations; they can bring monetary as well as personal assistance; and they can, above all, bring a mass of public opinion to bear on local and central governing bodies which will lead to the only real economy, which consists in expenditure on an adequate scale, bringing to the aid of the families of the people the preventive, the medical, and the nursing facilities of which they remain in need. ”

“ The State shall use such funds to make other grants and loans, consistent with the purposes for which financial assistance may be used under subsection (a) , as the State considers to be appropriate.' ”

“ It authorizes grants of money by the United States to States for old age assistance, for administration of unemployment compensation, for aid to dependent children, for maternal and child welfare and for public health. ”

“ The omission to render such aid is not a wise economy, but, on the contrary, undoubtedly results in losses of immense sums annually that might be saved through well-directed efforts by the Government to promote this vital interest. ”

“ The provisions made for loans from the Reconstruction Finance Corporation, to States that have exhausted their own resources, guarantee that there should be no hunger or suffering from cold in the country. The large majority of States are showing a sturdy cooperation in the spirit of the Federal aid. ”

“ If those who are indebted to the Fund for aid rendered to them will return the compliment for assisting their friends, do you not understand that they will have to make good the expenditure that now stands against them? ”

“ It has also frequently happened that corporations have been aided to a very large extent by public funds, by the voting of aid bonds, by the donation of large tracts of land, by payment for certain service at such rates as would largely relieve the company from loss in operation, by the remission of taxes, or by the direct donation of funds. ”

“ There is the crudest form, that of direct money relief, such as is involved in Old Age Pensions. There is the subsidising of socially desirable economic operations, such as insurance against sickness or the acquisition of freehold by tenants. There is the expenditure of money on various forms of education, in the scientific assistance of industry and agriculture, in promotion of forestry, drainage, or the improvement of local communication. ”

“ Provide guidance and funds as necessary to credit unions that will contribute to stabilization of the nation's economy by helping to establish and maintain a sound economic base for continuing operations, combating inflation, maintaining confidence in public and private financial institutions, and promoting thrift.”. ”

“ It was also a wonderful way of ensuring that funds supposedly meant to benefit poorer countries were not swallowed up in the maw of extreme poverty. Whereas in the old days aid workers lived on shoestrings, now they have very healthy packages, with benefits that support the lifestyles – and the mortgages etc – to which they were accustomed at home. ”

“ It would be impossible for the charitable offices to do their work without assistance from the authorities, and the Administration of Public Aid helps the offices with contributions which may be put down at 500,000 francs in money and 700,000 francs in bread, besides another 500,000 francs, called the subvention extraordinaire, which enables the central administration to establish something like a balance between the resources of the different bureaux. ”

“ Unless the agency coming in contact with it digs below the apparent poverty and finds the real income, it will be tempted to give pecuniary aid rather than the personal service the family is in need of. ”

“ There have been, I believe, over 2,200 applicants for relief to the fund which has been raised for the benefit of the sufferers of so-called Philanthropic Finance, and among the number it appears there are nearly 1,400 single women and widows. ”

“ PUBLIC ASSISTANCE. A marked feature in the social-economic history of the 20th century, and one which became even more marked in its second decade, has been the growth in public expenditure in relief of private wants. “Public Assistance” is of two kinds, direct and indirect. Direct public assistance is the receipt of any benefit in money or in kind at the expense of the rates or taxes which is wholly or partly unpaid for by the recipient. Direct public assistance includes objects like old-age pensions, unemployed benefit, children's meals and medical assistance. ”

“ The American Rescue Plan finishes the job of getting a total of two hundred thou- — or $20,000 to — direct payments to people. Getting direct relief to people is a lifeline for them and it bumps our economy into higher gear. ”

“ As a complement to these initiatives, efforts to provide financial assistance in regulatory proceedings to citizen groups, small businesses, and others whose participation is limited by their economic circumstances must continue to be pursued. ”

“ But there were other calamities less distant than death to be guarded against, and a common fund, also based on the contributions of individuals, to aid and relieve in case of fire and kindred calamities, was organized. ”

“ We are -- the plan evaluates the health and the condition of individual financial institutions, again, to understand what's needed, to understand their health, and to ultimately, again, restore that confidence. And primarily, first and foremost, there's a dramatic expansion that provides -- that will provide lending for the entities that we know need it most. We all hear horror stories about people with good credit that are looking for a student loan, or for an auto loan, or for a housing or commercial real estate loan that can't get access to that capital. ”

“ Further, I ask the LANDBANK and other government financial institutions to continue providing low-interest loans to our OFWs. Sa mga kababayan ko na naghihirap sa ibang bansa, nandito ang inyong gobyerno para matulungan kayo at inyong mga pamilya, lalo na sa panahong ito. [applause]
The government will intensify its efforts to help businesses, especially our micro, small and medium enterprises or MSMEs, by providing responsive government assistance and services, capitalization, and business operations support as we adapt to the next normal. ”

“ In ad­dition to the normal growth of domestic savings flowing through such financial intermediaries as the commercial banks, the Government Service Insurance System, the Social Security System, the Postal Savings Bank and the private insurance companies, the program contemplates the estab­lishment of rural savings institutions and cooperative banks to encourage systematic savings out of current income in the farm areas. ”

“ Social Security Financing Acts shall lay down the general conditions for the financial equilibrium thereof, and taking into account forecasted revenue, shall determine expenditure targets in the conditions and with the reservations provided for by an Institutional Act. ”

“ In order to expand the economic foundations of labour, organizations of associated labour may collect financial resources from citizens and ensure them in addition to the repayment of these resources, compensation for investment in the form of interest or other benefits determined by statute. ”

“ More than two dozen major companies and organizations have committed to extending more loans to low-income families, financing the construction of more affordable homes, and providing financial counseling to potential buyers. These policies will make a difference in the lives of millions of Americans. ”

“ I am just here today to say to you, gentlemen, that I know you can help a lot both in effecting economy of expenditure and in creating a better condition, from the moral standpoint, in all of the surroundings where our men are being treated and cared for. You can cooperate by suggesting to our Committee on Appropriations how we can best meet the situation that will prevent extravagant waste of money by the men who are being cared for, while they are in the institutions, and how we can preserve the funds for them and their families ”

“ I heard also of one or two wealthy men whose names do not appear as contributors to the public relief fund, who have preferred to spend considerable sums of money in this private way. In my wanderings about the town I heard also of several instances of poor people holding relief tickets, who, upon meeting with some temporary employment, have returned their tickets to the committee for the benefit of those less fortunate than themselves. ”

“ In this situation the cooperative credit societies organized under government supervision have proved a godsend to the people, and thousands of ryots through their aid are now getting free of debt for the first time in their lives, and their families for perhaps the first time in generations. Each member of a cooperative credit society has some interest in it; the government will lend at 4 per cent, an amount not greater than the total amount deposited by all the members ”

“ See, e.g., S.Rep.No.628, 74th Cong., 1st Sess., 5-6, 18-19 (1935) ; H.R.Rep.No.615, 74th Cong., 1st Sess., 4 (1935) . Federal aid would mean an immediate increase in the amount of benefits paid under state programs. ”

“ In proportion as the advantages of saving are reduced the inducements to save will be diminished, and then the available lending fund of the community will be lessened, so that fewer persons in need of temporary accommodation will be able to receive it. From another point of view, may it not be urged that if a man obtains the assistance of a loan he should be as willing to pay for it as he would be to pay for any other distinct advantage? ”

“ We understand that that level of trust is extraordinary, and that whether this money goes to the states through a formula grant, whether it goes to the states or local entities through a transportation grant or something like that, that great care has to be used when dealing with the taxpayer money. The money should not be spent on wasteful projects or pet projects, but instead spent on projects that we know can and will move this economy forward. ”

“ That is not to say that I favour the use of complete government control over the use of credit, but that I do propose the use of government assistance in bringing to the attention of producer and consumer alike such enlightened information as will enable the people to protect themselves against unwarranted and headlong plunges into excessive debt. It is up to the government to maintain its most sacred trust, the welfare of its citizens. And such a trust requires the regulation of such balance among productive processes as will tend to a stabilisation of the structure of business. ”

“ If these institutions are to be steady recipients of State aid for permanent improvements, the title of the property should be transferred to the State." Otherwise any philanthropist might found a charitable institution to provide himself with congenial employment, and, availing himself of the courtesy of the State to thrust his hands into the pockets of his neighbors, make additions to it and keep it in repair. ”