The New York herald., 1921-10-13
DATA ARE SUBMITTED
Unemployment Conference
Urges Adjustments to
Speed Work.
LOCAL ACTION SUGGESTED
Costs of Financing, Of Mate
ria]s and of Labor Must Be
Lowered, Says Report.
Special Despatch to THE NEW YoHK HEKALD.
New York Herald Bureau,
Washington, ID. c., Oct. ~.

speoiat Despatch to THE NEW YoHK HERALD.
New. York Herald Bureau.
Washington, ID. c., Oct. ~.
Two million workers, a number
equal to more than one-half Of the
nations entire list of unemployed, can
be given regular work for three years
through a revival Of the building in
dustry throughout the United States,
according to the findings of the con-
ference on unemployment made public
to-day. The findings were in a report
submitted by the committee on build
ing and approved by the entire con-
ference.
At least $40 600, 900 900 worth Of new
construction is urgently needed by
the country as a result Of stoppage
of construction during and inme-
diately after the war, the report
stated. 1t concurs with the findings
of the Senate Committee on Recon-
struction.
Building ON Increase.
Building is beginning to increase, it
was announced. but greater progress is
regarded as essential. Approximately 80
per cent. of building now going on is
for residential purposes. the committee
found. indicating construction men are
whiting away at the nationwide dwell
ing shortage and high rents.
To revive construction in a decidedly
beneficial manner to the entire c,untry
the cost Of materials, financing of
building loans and labor. must be re-
duced, according to the report.
Adjustment of these factors is mat
ter that can be accomplished onlylocally
through efforts of officials, dealers in
materials, builders, workers and bank
ers, 1t was stated.
The conference recommends that Sec
retary Of Commerce Hoover name a
committee to cooperate with local
groups In bringing about reductions OF
freight rates on building materials and
the Standardization of building costs t.
bring about economies in manufacture
of building materials.
IF local conditions prove satisfactory
there is no reason" read the report
why work should not proceed i'm
mediately. This is especially true o1
persons contemplating the building Of
their own homes and who are now pay
Ing rentals based on inflated values.
Money must be made available on
reasonable terms and in reasonable
volume and free from demands oe busi-
ness and commissions of questionable
character. r4
"The savings deposits of the people
are the natural economic source of loans
for home building. The aggregate is
ample for this purpose even though
portion is paid by adequate investment
in more liquid securities to meet with
drawals. There would be no difficulty in
financing homes IL the fundamental prin-
oiple OF the use OF long term deposits
for home loan and long term purposes
was generally followed. In every Sec
ton of the country owners have declined
to start new projects on account of the
financing charge, but both the interest
rate and commissions and the premiums
paid for loans being discouragingly high.
Commissions from 10 to 20 per cent.
have been charged in addition to in
terest at z and per cent. When an
owner must pay such sums before con-
struction work starts. many projects
have necessarily been abandoned In the
face OF continual need and demand for
building.
Retailers Keep Prices Up.
Many construction materials have
been substantially reduced In price
Some have been reduced to a point which
is retarding production 1t is apparent
however. that other construction ma
teriais have not been reduced In keep
ing with the trend of wholesale prices
on other commodities. In many In
stances retailers of construction mate
rials have not yet followed reductions
put into effect by manufacturers and