Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-18
HOOVER TO DISCUSS
BUSINESS "RELIEF"
WITH RAIL LEADERS
Continued From First Page. !


ness, Secretary Lamont of the Depart
ment of Commerce said today. He said,
! too. that the Government would look
/ 10 existing agencies In the business
world TO aid In carrying forward the
/ program. His own department and the
! United States Chamber of Commerce,
Mr.. Lamont said, would be among the
agencies utilized, and. in addition. the
American Federation of Labor and the
American Bankers Association. II a
| co-ordinating agency, bringing the
Government and all the commercial
and labor organizations into closer
'ouch, Is found to be necessary, it will
be set I'D later.
The names of a number of America s
important business and banking eX-
ecutives have been mentioned In con-
nection with the Presidents confer
ences. Among them are those of Owen
D. Young. Thomas w. Lamont OF j. p.
Morgan e. Co. and Julius Barnes,
chairman OF the board of the United
States Chamber of Commerce and
Arch w. Shaw OF Chicago. Mr.. Young
served as chairman of the committee
on unemployment several years ago, and
on later committee dealing with the
economic situation. Others mentioned
are J. p. Morgan and Henry Ford.
It Is expected that Mr.. Hoover will
lay before the conferences complete in
formation, obtained by the Govern
ment, regarding the business situation
and activities in all lines. With this
information at hand 1t is believed that
the representatives of industry. agri-
culture and Ia Dor win be in a position
to go ahead with a we'll Co-ordinated
program,
Wagner Approves Plan.
The Presidents program for assist
ance to business was given Endorsement
Democrat. who has made a study of
the employment situation and who has
urged that Congress adopt plan to
prevent widespread unemployment in
times of depression by planning public
works for q long time ahead. which
may be undertaken when the need
comes. Senator Wagner said:
The great danger inherent in the
present disturbance of the public
mind said Senator Wagner. rs that
It, may develop into q spell of unem-
ployment. That must be guarded
against and prevented at all costs.
Tt has been repeate asserted and
established that present-day prosperity
depends upon the buying power Of the
great masses of the people. Nothing
Sustains that buying power as much
as The assured expectation that en-
ployment will continue and that wages
will be earned.
IF there is doubt of the future. it
rapidly turns to fear. which congesls
the desire TO purchase and causes all
economic activities to shrink.
Urged Passage Of Bill.
For the last two years l have re-
peatedly urged upon Congress the de-
STABILITY OF passing my bill providing
for the long-range planning of public
works and the creation of an agency
to coordinate such activity. The meat
OF that plan is that public agencies
should so order the construction of pub
lie works as TO stabilize employment
and prevent unemployment. The bill
has received the universal approval of
economists and has in principle been
recommended by the Senate commit
tee which Investigated unemployment.
Had the bill been enacted there
would now be no need for haSty con-
ferences. which in themselves seem TO
forebode distress. The superiority of q
permanent, responsible agency con-
tinuously making the necessary adjust
ments to provide stability over >panicky
conferences in the midst of an
emergency is too obvious to require
elaboration