Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-12-05
HOOVER PLAN
STUDIED BY
{. OF c. CHIEFS
Speaker Says Nation
Is Skeptical Of
Resolutions

WASHINGTON, Dec. 5-tP-The
foremost representatives OF Ameri-
can commercial activity gathered in
Washington today to advance Pre-
sident H0Over's business progress
campaign by establishment OF q
permanent committee ever on the
watch for developing weak spots in
the nations economic structure.
At the request Of the chief ex-
ecutive. the meeting was arranged
by the Chamber OF Commerce OF
the United States. and MI. Hoover
himself prepared an address sum-
marizing the purposes and previous
accomplishments of his program
with which to open the session.
Although invitations were issued
originally to less than two hun
bred leaders In American business,
interest In the meeting was aroused
to such an extent that the number
attending was almost doubled. High
ranking executives OF great indus
trial corporations, railroads. bank
ing institutions and prominent
trade associations left their duties
to subordinates in order that they
might take part in the discussion.
Business Surveyed
In addition to the address OF
President Hoover, the program in
Guided q survey Of the elements OF
strength and weakness in the pre-
sent business situation by assist
ant secretary julius Klein OF the
Commerce Department, addresses
BY william Butterworth and julius
Barnes. president and chairman Of
the board OF the United States
chamber. and statements by repre-
sentative industrial leaders on the
current condition OF the particular
phase of economics with which they
are identified individually.
A general discussion followed, cul-
minating in the organization Of the
permanent committee, which Is 10
maintain an alert and continuing
scrutiny over national production,
distribution and consumption. Tor
the purpose OF noting depressions
in particular fields as they develop
and OF evolving q means OF end
ing them before they become
serious.
Action Demanded
Creation of such q committee was
recommended by the group OF IN
dugtrial leaders which met Win
president Hoover early IN the series
of conferences through which the
exec,tive's campaign was develop
ed. and its organization was placed
in the hands OF BuGterworth ana
Barnes. John G. Lonsdale, presi-
dent Of the American Banker :
Association, also had q part III
making arrangements Tor To-Day :
meeting. Klein's address told Inc
assembled business leaders the pep
nIe NJ the nation were looking 70
them y action and that q "goOdiy
number OF citizens are inclined TO
be- skeptical as to the value OF COM
mittees resolutions and badges ana
all the paraphernalia OF CONFER
ence."
Nation Efficient
Although saying that, admitted
~ Ia some industries the situation
Is not as satisfactory as It might
he" and nothing is TO be gained
by gliding these less solid wheels III
our business mechanism" he went
On to declare that agriculture, LII q
broad sense, i sound, transporta-
ton active and efficient, mining
and most major manufacturing ac-
with a sound fiscal and banking
t~iyities apredominantly healthy.
system and available credit az
reasonable rates"
Prices are steady with q some
what downward trend, he contin-
ued, and inventories are low ana
without indication Of any serious
congestion, except for one or two
lines in which he said the situation
was worthy OF some careful study"
Completing his summary, he as
serted that management and labor
we're never before upon such q high
plane OF efficiency.
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