The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-11-28

prevent rank speculation and over
expansion.
Second, the provision Of more
adequate information as to the ten
denotes in production, stocks, con-
sumption of commodities, employ
ment, ETC., SO as to enable business
generally to Judge better of the ap-
proach Of dangerous periods.
Delaying Public Work.
Third, the rdefelment of ais much
as possible of public construction
work during periods Of full private
demand in the Industry to those
periods when the construction in
dustries were not so much in de-
mand.''
Hoover regards the work of this
committee as of great importance
in curbing the beginnings Of dan
gerous boom in the spring of 1923.
He said that it enlisted public at
tention throughout the world, has
stimulated economic thought and
developed very tangible results in
application of the principles laid
down for mitigating the high losses
to the community through waste Of
bootns and their inevitable collapse
into gigantic unemployment.
Efforts are under way to elm
mate wastes Occasioned by ''the
seasonal ups and downs in build
ing" characterized as "evilS that
are largely preventable and can be
eliminated" Prevention OF these
wastes would strengthen the entire
business structure, according to
Hoover, who added that ''construc-
ton is the balance wheel Of Amer
lean industry.
II Building Falls Off.
/. "If building fallA off there is al
ways q slackening in many other
lines of industry, resulting in un-
employment, decreased purchasing
power Of employees and further de-
preston" Hoover explained.
The high instability of the btu
minous coal industry functioning
at great national loss, is another
serious problem, according to the
Secretary's report.
due to the war and to periods
OF profiteering, far too many mines
had been developed and placed in
operation" Hoover declared. ''Prac-
tically all of these mines had con-
tinued to operate on q basis of
partial weekly employment. There
were approximately 80 per cent top
many mines engaged in the bust
ness and holding to themselves 30
per cent more labor than would bs
necessary to produce the nations
coal supply il they were continually
employed.
Labor Difficulties.
"One result Of this intermittent
employment is that a large proper
ton Of the workers, although en-
ployed at a very high minimum
daily wage, did not receive q suf-
ficient annual employment to main
tain a reasonable standard Of living.
Thus, there grew out Of this vicious
cycle constant Indictment to labor
difficulties"
Primary remedies for the coal
situation, according to Hoover, are:
l. Sufficient transportation faciIi.
ties, because car shortages result in
increased prices, profiteering and
stimulus to. the maintenance Of high
cost mines.
2. Reduction of seasonal character
of the industry by the summer stor-
age Of coal by the larger commercial
and Industrial users.
8. A period of Industrial peace, so
that by avoiding strikes, the subse.
Quent prufiteering would disappear,
and thus the fly-by.night and high
cost mines lose their support.
Restore Competition.
q. Restoration of real competitive
conditions.
s
A large amount OF summer stor-
age has been induced as a result OF
Hoover's investigation, Il was stated.
Car shortages have been eliminated
through cooperation Of the railroads.
The United Mine Workers Of Amer
lea have entered into a long time
agreement with operators, insuring
industrial peace.
Here Is q case where the savings
of economic waste can be measured
in the hundreds Of millions OF dol
lars" Hoover declared.
Interconnection Of electric power