The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-01-07
1880 TO Be
CRISIS YEAR

!
prOvement of conditions that will
put business, investment and fin
ance back to where they were in
1929; (Here's the rubO
"(3) Some industries are adj
mitted to be facing rather serious
problems, such, for example as the
automobile industry and build
ing" (This is the blast of wind
that scatters HOOver's house of
cards that he labels increased
building prOgram.D
What prospects for that jewel of
American capitalist industry, auto
mobiles? Only one real outlook.
Sharp crisis and a smashing drive
for world markets to dump Amer
lean automobiles.
This was foreseen by the Euro
pean automobile manufacturers when
they met to devise means of driv-
ing out U. S. competition, The
French government proposes an in
crease of 80 per cent in tariff
against U. S. autos.
Harry E. Pierson, writing on the
prospects of the automobile indus
try journal of Commerce, Jan. g.
points to the world market.
Europe is a beacon light for the
automobile interests in America" he
says. "Why there should be an ex-
cessive supply in America, and why
Europe has been recognized as hold
ing a great potential for demand,
is of first concern" Stimson is
doing his part by demanding more
war cruisers to further U. S. trade,
while at the same time Hoover or
ders the speedy building of fifteen,
despite conference or agreement.
While Hoover's economic crisis
three minute men shout their propa
ganda over the radio, thru the CAPT
talist press, and thru the willing
mouths of the social-fascists head
ing the American Federation of La
Dor, the Federal Reserve Bank piles
up reports of sharpening decline.
Here are the facts boiled down
from various cities:
Boston: "There was a sharp re-
cession in New England industrial
activity during November.
Carloadings Of merchandise and
miscellaneous freight during Nov.
in New England fell off consid-
erably. Building construction
continued to decline, ETC., etc."
Philadelphia: Building activ-
ity declines. The decline in the
past month was shared by south
ern New Jersey and eastern Penn
sylvania, but Delaware showed
the largest percentage of recess
sion in total awards"
Cleveland: Factory employ
ment receded sharply in Novem-
Der, compared with the previous
month and was less than the cor
responding month of 1928.
This situation in December was
aggravated. Declines in payrolls
has been greater than decline in
unemployment. (This is the same
picture throughout the country
wage cutsD
Chicago: "The decline in United
States production of passenger
automobiles in Nov. from October
averaged All per cent. Heavy
recessions were reported in rub
Der, food products, leather and
vehicle groups. Rubber manufac-
turing declined 10.5 per cent.
Food products showed a loss of
7.S per cent in employment.
The number employed in leather
manufacturing decreased SIS per
cent and their earnings were down
to 1911 per cent (more wage
cutsD.
st. Louis: Generally through
the district, according to the en-
ployment service of the Depart
ment Of Labor, a surplus of work
ers exists, most marked among
states that the above affidavit is
true.
ROBERT ALLEN.
Witness my hand and seal this
Oath day of December, 1929.
]. E. Thomas, Notary Public,
Mecklenburg County. my commits
sion expires Jan. 81, 1880.