Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-11-30
Hoover Stabilizing Proposal
Arouses Popular Imagination

and ability with which he will further
it. His career in private and public
life demonstrates that few men In the
world are equally we'll fitted for such
task. It may be that there is none so
we'll equipped And if absolute stabili-
zation of prosperity is still generally
regarded as beyond the bounds OF the
probable, a long step toward 1t may
be taken during Mr.. Hoover'S service
as Chief Executive"
Certain reservations are made by the
Detroit Free Press, with the statement:
THE PreSident-elect is practical man
of very large experience, who has no
illusions about human nature and hui
man capacity, and it is to be assumed
that the plan he has authorized Gov
Brewster to present to the Nation Is
offered as distant. ideal goal toward
which to march rather than as pro-
gram which he believes can be worked
out in entirety within any given time"
The economic problem is emphasized
by the Cleveland News, which sum-
marizes the possible effect: ANY prot
estation against the hardshipS Of I'M
employment seems a form of national
defense well worth adopting. The Hoo
yer plan not only promises the worker
some security in his right to work. but
also offers the taxpayer the economy
possible in undertakings started at
times when material and labor costs
are not rendered abnormally high by
active competition"
On the other hand the indianapolis
News raises the question whether the
very existence of the reserve might not
create fictitious, high-price levels. re-
CARELESS of what otherwise would be
normal operation of supply and de-
mand."
1T seems only common sense" agrees
the Pittsburgh Post-Gazette, but that
paper adds: There is a big problem of
organization and Synchronization in it.
However. the particular ability Of Mr..
Hoover in that line and the success
of cooperation in the reduction of I'M
employment some years ago promise
much for the plan"
A question which is raised by the
Brooklyn Daily Eagle is as TO "how he
proposes to create the $4,000, 900 build
ing reserve on the lines of the Federal
Reserve Bank The bank was estab-
paper. THE National Legislature
might take the lead by establishing a
national building fund. Possibly Pres
ident-elect Hoover will make some such
recommendation in his first annual
message. But until the project at
tainS some such concrete form it will
have little value"
ut is sensible procedure" argues the
Baltimore Sun. however, "becauSa
money, materials and labor are cheaper
at such times. But it is important to
keep a sense Of proportion and not to
look upon the scheme as a panacea for
unemployment" The Bellingham Her
aid comments: 1.-THE great aim is TO
prevent cycles or fluctuations In In
dustry. Much Roadway toward the
solution of the problem already has
been made. The construction reserve
plan is just one item in the main
scheme. In fact, 1t is a secondary item.
and its chief value is to insure conf
dence."
THE plan at first consideration may
seem somewhat paternaliStic," concludes
the Kalamazoo Gazette. but it surely
is no more so than many Of the syS-
TENS already in force to guard the eco
nomic wellbeing of the Nation"