The Washington herald., 1921-10-02
JOBLESS PARLEY
$EKS TO OBTAIN
PERMANENT CURE
Accumulation of Public
Works Against Slack
sTimes Suggested.

trialseonference will turn its atten-
tion 40 "a permanent remedy for the
uner5rloyment evil. t-.
Nd reform of greater beneit to
the country could be achieved In
the Spinion of the President, than
constthctive public action for the
prevspEion of unemployment.
"IS.Nnemployment is to be at
tacksd with vigor." says the report
of the economic. advisory committee
10 thf..conference. .and with pros
pectsSf lasting success, steps must
be tEken now TO deal with the prob
lem even well in advance of the next
upwsyd trend of business. When the
next. downward phase of the busi-
nessseJicle comes it will be too late
for Chr application of the most et-
fecttsre means of assistance. For
Intelligent and far-sighted action
we believe certain kinds OF status
hcaf. information are essential and
he aathering of such data should
be urouptly undertaken.
twouId Plan Public Works.
we also believe that an effort
should now be made to set up ma
.tinsty. for the long range planning
u p6biic works to mesh in with the
Huctnations of private demands Tor
abot Ill
aFfobably most promising OF all
Is tes opportunity now offered 10
hrinf home to the public mind the
.ionificance of the business cycle
,9d 40. enlist the individual enter
,rise of business managers-slngiy
md through trade associations--in
ne work of reEularizing employ
nenf within their own establish
nenfst,.
Sterilization of business and the
tvoiaance of recurring Industrial
iepressions and crises "are in no
smaA measure dependent upon
more complete knowledge OF the
actors affecting the business sltua-
aons and the committee recon-
nends that the government colec'
and disseminate information on in
venteries, goods on order production
and production capacity. construc-
ion weekly earnings and hours by
radas and establishments. employ
nsnt cost fundamentals, prices
probable demand for or consump-
Jon Of specific articles and other
significant cycle features.
Aid in Public Works
Mpnicipal. State and Federal pub
Sc works. the committee holds
,hol1id be contracted in years of in
iustrial activity and expanded IN
,ears of depression to revive private
ndustry and to check Industrial de-
,-essjon and unemployment. to pre-
yentsthe demand of public works for
materials and labor from conflicting
WITH the heads of private industry
md In general to stabilize industry
and employment.
Itsfs suggested that at least 10
Ser cent of the average annual eN-
,endltures on public works be de-
'errsd during good times and tina
deferred accumulations executed In
4 year of hard times, which occurs
Ibottt every ten years. Another suS-
sestfon is d Federal bond issue a s a
osns in aid of municipal public
xorksfn years of depression.
Ouo T. Mallery of the industrial
board of Pennsylvania estimates
The 1iftinE power of public works
as dne-third of the dead weight OF
uch. depression as the present-that
Is 1850. 900. 900 OF additional public
works wages contrasted with de-
,rease of $1,000. 900. 900 in wages in
private lhuuSIiS III q SN
PRESTON
Would save Overtime.
The committee makes numerous
suggestions to employers to reduce
The Illustrations OF seasonable en-
oloynnent and to exercise such fore
,ight in the management of busi-
,esSas will minimize cyclical unem-
oIoypnent In flush times save your
n l. a~1l
.he committee which continues:
On the upwave we are-taking
the country as a whole and especial
ly the ultimate consumer-stock
ing sip. On the down wave we are
irawing from stock. 1t is at the
speculative froth on the wave Of
prosperity that we want to aim our
strongest efforts.
"she- normal sequence is subject
20 accidents such as war. natural
,slaulity (crop failure. earthquake),
and srevolution in political control,
in technical advance. or In con-
sumsrs' demand. and in one part or
inoeher OF the business structure.
such accidents are continuous. They
ranSot be specifically guarded
against. but are best met by build
ing up the resistance of the whole
,truetiIre by the avoidance of the
strains Of over extension and pros
tratton.
tyant Intelligent Planning.
"Fpr individual enterprises as for
eubIie undertakings safety lies in
pinnn ing II most of them were
,ls nned well ahead we could expect
a heaIthy swing to the cycle. brok-
IN ocly by occasional calamity.
"'IC Is just where the screws must
Sc dut upon imitation that citizen
education on cycles will do its best
servtce; Congress will be tempted
20 iEfationist measures. Bankers
will heed even more real courage at
ma point than during the discour-
igerHents of the depression.
The. present surplus of gold
shose. corrective international flow
IS checked for some years to come.
offere, a peculiar temptation to
'aise boom which would set us back
n insernational trade and bring on
4 guaSk and deadly depression.
ore seldom recognized. but i'm
oortaut. aRgravation to the over
stocks during a slump lies in the
.,oods on order'-the impending in
;ertory. Bankers can help this Sit
1ari5n by demanding an account OF
rnpkitiinF inventory as they would
" cdr tinCent liabilities. thus bring
Ing the need of such records before
he business man.
WouId Investigate Projects.
The directing heads OF corpora
ions should scrutinize each Of the
protects put before them by their
,ngfnssring STATS. They will find
% per cent (and larger percentage