The Washington herald., 1921-10-12

General and Committee
Reports Both Favor
Limitation.
Z OTHER MEANS
RECOMMENDED
Action Urged on Rail
Rates, Taxes, Tariff,
And Funding.

General measures to aid In the
permanent recovery of business and
industry were approved in report
adopted yesterday by President Hard
ing's Conference on Unemployment.
Limitation OF world armament land
consequent increase Of tranquility and
further decrease OF the tax burden"
is urged both in the general report
and in a report from the subcommittee
on foreign trade which also was ap-
proved by the conference.
Other recommendations contained In
the general report include:
81. Readjustment Of railway rates to
fairer basis Of the relative value Of
commodities with special consideration
of the rates upon primary commodities,
at the same time safeguarding the
financial stability OF the railways.
Completion Of Tax Bill
''2. Speedy completion OF the tax bill
with its contemplated reduction Of
taxes, in order that business now held
back pending definite determination
may proceed.
-. Definite settlement Of tariff iegis-
lation in order that business may
determine its future conduct and
policies.
az. Settlement of the financial re-
lationships between the government
and the railways. having in mind the
immediate necessity for increased
maintenance and betterments, max
ing effective increased railway employ
ment and stimulation Of general en-
ployment, in order that the railways
maybe prepared for enlarged business
as 1t comes.
Rate Of Exchange
rs. Steps looking to the minimizing
Of fluctuations in exchange, because
recovery from the great slump in ex-
ports (due to the economic situation
! in Europe}, cannot make substantial
progress so long as extravagant daily
fluctuations continue IN foreign ex-
change. for no merchant can deter
mine the delivery cost OF any inter-
national shipment.
IS. DEFINITE programs Of action that
viii lead to elimination Of waste
and more regular employment In
seasonal and intermittent industries,
notably the coal industry, in order
that the drain upon capital may be
lessened and the annual income OF
workers may be increased.
"7. In the field Of all the differ
ent industries and occupations the
rapidity of recovery will depend
greatly upon the speed of proper
tionate adjustment of the inequali-
ties in deflation. Agriculture has
reached an unduly low plane, while
transportation, coal and some
| branches of the construction in
dustries are of the highest. There
is an entire disproportion between
the price of the primary com
moditIes and the ultimate retail
price. These disproportlonate in
creases in the progressive stages
of distribution are due to in
creased costs of transportation, en-
larged profits, interest. taxes, labor
and other charges.
IF the buying power of the differ
ent elements of the community is
to be restored. then these levels
must reach nearer relative plane.
For example, the farmer cannot re-
sumo his full consuming power and
thus give Increased employment to
the other industries until either
his prices increase or until more
of the other products and services
come into fair balance with his COM
modities, and therefore the reach
of his income"
| Advocates Foreign Funding.
The report of the committee on
foreign trade. which was presented
by Joseph Fl. DeFrees of Chicago,
president of the Chamber of Com
merce of the United States, besides
urging limitation of armament,
urges that the United States exert
its influence towards a reasonable
control of the present unregulated
payment of reparations by Germsliy
and advocates the early enforce
ment of legislation enabling the ad-
ministration to deal with the fund
ing of foreign loans.
| The reports were approved by
unanimous vote. In connection with
the section of the general recon-
mendations relating to the settle
ment of financial relationships be-
tween the government and the rail-
ways, Matthew Woll vice president
of the American Federation of La
Dor, announced that labor agreed
with the principle of the resolu-
tion but would present its views
later as to methods to be en-
ployed.
| Urges Emergency Credit.
John L. Lewis, president of the
United Mine Workers of America
hled with the conference a state
ment urging the extension of gov
ernment credits to working men and
women as an emergency relief
measure in unemployment crises.
The general conference will meet
again today. when further reports
Of subcommittee which are not of
a controversial nature viii be pre-
sented. Tomorrow 1t is planned
to present committee reports which
include majority and minority
views 80
Attached to the general report
approved by the conference Is a
table of index numbers showing
prices of different commodities in
August, 1921. based upon 100 for
1913. Comments upon this table.
which Is designed to show the need
for an adjustment of inequalities in
the deflation process. are made in
this report