Indefinite CCC Continuance Endorsed by President
President Roosevelt writes to CCC director Robert Fechner pledging ongoing support for the civilian conservation corps as relief work. He cites 300,000 destitute youths and veterans employed in forests and says costs will be met with little opposition. Fechner reported on inspections of 125 CCC camps across ten western states.
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London Stocks Boom as British Discard Old Conservatism
In London a silent boom lifts stock prices 20 to 0 times earnings per share, driven by investors bidding up attractive shares despite uncertainty. The old rule never buy above 10 times earnings seems outdated as brokers report investors lack alternatives outweighing caution.
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