The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1925-01-01
CAB|NET OFFICERS
PREDICT ERA OF
PROGRESS IN 1925
Secretary Hoover Believes
I There VIII Be Less Unen-
pIoyment This Year,
BIZ united Press

BV CHSfe0 Rfes8
WASHINGTON. Jan. 1.-World
economy forces already set in mo-
ton promise almost universal peace,
prosperity, higher standards of liv-
ing and less unemployment in 1925.
Secretary of Commerce Hoover said
in a New Years message today.
Secretary of the Treasury Mel
Ions recent prediction that this will
be the most prosperous year since
the World War was predicted by
Secretary Hoover, Secretly Davis
and Secretary of Interior Work in
New Year messages to the nation.
Solid Foundation
.sThis year begins with the eco
nonic structure of the world upon
more solid foundations than any
since 1918" Hoover said. THE only
exceptions are China. disrupted by
Civil War and Russia
The dawn of new year could
not be more reassuring. or promis-
ing" Work said. 1.-THE old year was
epochal in the nations history; it
was marked by national political
battle in which the American people
expressed confidence in their in
stitutions, repudiated doctrines Of
radicalisna and theories of no sense
and upheld common sense"
Peace in Industry
Business genius and skilled crafts
men of America are progressing
surely toward peace in industry"
Davis said, predicting still greater
progress In the new year.
Wholesale prices Of commodities
In the United States are settling to a
level of so per cent over pre-war
prices, Hoover said. Wages are re
naming at 100 per cent higher than
before the war, while the cost Of
living has been stationary at ~ per
cent above pre-war for the last three
years, he stated.
Labor therefore continues to en-
Soy the largest real wage in history"
Hoover said.
The outstanding development was
the very large recovery" of Ameri-
can agriculture, which Jagged two
years behind other industries in at
tanning prosperity, according to Hoo
yer. Prices OF farm products are go
ing up now while other commodities
remain stationary thus increasing
the farmers purchasing power.
OwAed Homes Increase
Shortage Of houses and business
buildings have been nearly overcome,
but continued high wages and pros
.perity create new demands for con-
struction work, due to the insistence
of people with rising standards of
living for more elbow room and
houses Of their own. Good roads
and the automobile are enabling mil
lions of city workers to live in their
own homes in the suburbs, further
adding to construction activity, he
said
Transportation problems were
viewed 9ptimistically by Hoover, who
said:
Our railroads have shown con-
tinued increase in efficiency during
the year and havs now proved them
selves equal to any burden which is
likely to be thrown upon them. Mo-
tor transportation continues to de-
velop and to enter more and more
into the vital economic life Of the
.country-in fact, almost impercept-
fbly our road Improvement programs
are taking on the complexion of new
transportation systems"
The Nations exports increased to
about Sd, 800 .000. 900 for this year,
while imports dropped slightly to
50, SOC. 100000.
~ The United States alone Of the
large combatant nations Of the
World War. Hoover declared, has
recovered its volume Of foreign trade
up to is per cent and value much
higher.
There is no present indication Of
imitation" he added.