Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-27
An Other States and Canada.
An Inspiring Array.

President Hoover has been signally
successful In marshaling industry, az
riculture, labor and the Government It.
self tc stabilize business conditions and
plan for . forward march Of prosperity
In this country. AS group after group
have met the President at the White
House and pledged their aid, buttressed
still further with the hearty response
Of the governors of the States to whom
the President appealed for cooperation,
O spirit Of optimism has arisen. Those
who were inclined TO view the future
through dark glasses because of the
tumble In stock prices now see q silver
rim to the cloud.
The real problem which confronted
the administration was largely psyche
logical At bottom, the country Is
economically sound. Temporarily Q
great deal Of capital which should and
would ordinarily have gone into produc-
tive industry IN the shape Of better
mentS of plants and extensions OF sc-
tivity was diverted 70 the stock market.
where speculative buying promised quick
pronts. Much of this capital will b.
available for construction work, for in
dustry and agriculture.
The President wisely saw the need
Of prompt action to dispel pessimism.
Allowed to run unchecked, IL might have
resulted In q great curtailment Of buy
ing on the part of the people and q con-
traction of business enterprise generally.
Such curtailment pyramids rapidly once
II Is started. On the other hand, OPP
tirnism. founded on actuality, rolls up
like huge SNOWFALL from small dimen-
sions. Mr.. Hoover acted quickly and in
his own methodical way. He Is q man
Of deeds rather than words He has
succeeded in inspiring industry and
labor generally with optimism and they
have pledged him their cooperation to
keep up production and employment.
One Of the greatest of the Presidents
achievements has been an agreement
on the part Of the great employers, Of
labor not to reduce wages, and on the
part Of organized labor not to seek in..
creases, until this period Of readjust-
naent has passed. Another great gain
iS found in the assurance given the
President that business is to proceed
as usual and that employment viii be
kept on q high level The administra-
ton has done its full share to cooper
ate with industry and agriculture IN
this drive for q continuation Of prosper
ity in this country 1t has announced
plans FIR A reduction Of the normal
income tax rate, which will lop $780,
100000 of the shoulders Of the tax
payers. II has announced q proposed
increase of S175.000,00O for the con-
struction of public buildings through
out the country and budget for ocean
mail carrying contracts. The last is
expected to add greatly to the work
Of American shipyards through con-
tracts for the construction Of ocean,
going vessels for several of the shipping
, lines.
The governors of marty all the States
have communicated to the President
IA1cA mCcuttoH Oh BohlB NhcaO WIN
much constructive work within their
state boundaries.
Such Is the impressive array Of
@dges given. Mr.. Hoover believes in
action. He has obtained the promise
Of immediate and favorable action from
the men who control in large part the
trend of production and business
throughout the country.