Evening star., 1930-12-02
PRESIDENT SEES FIRM BASIC FOUNDATION FOR FUTURE OF

posits was los per cent; that the whole
sale prices-all commodities-was SO
per cent, and that the cost Of living was
"a per cent Of the cost Of living in 1928.
There are many factors" said the
President. which give encouragement
for the future. The fact that we are
holding from 80 to s5 per cent of our
normal activities and incomes; that our
major financial and Industrial institu-
tionS have come through the storm un-
impaired: that price lsvels of major
commodities have remained approx
mately stable for some time; that
number of industries are showing signs
OF increasing demand; that the world
at large is readjusting itself to the situ-
alton. all reflect grounds for confidence.
We should remember that these occa-
sions have been met many times before.
that they are but temporary in char
acter, that our country is today stronger
and richer in resources, in equipment
in skill, than ever IN its history"
Points Out Cooperation!
The President declared that "eco-
nomic depression cannot be cured by
legislative action or executive pro-
nouncement' and that economic
wounds must be healed by the action
of the cells OF the economic body-the
producers and consumers themselves"
He added. however, that recovery can
be aided by cooperation, and he listed
the kinds of cooperation which should
be had, beginning with the Federal
Government and including the cooper
alton of State and municipal govern
ment, of each community and OF the
individual citizen.
Each industry" said the President,
should assist its own employees, each
community and each State should as
sumo its full responsibilities for organi-
zation and employment and relief OF
distress with that sturdiness and inde-
pendence which built a great Nation. l"
The President pointed out that the
Federal Government had initiated ex-
tenSive cooperative measures through
out the country, including agreement
of leading employers TO maintain the
standards of wages and OF labor leaders
to use their influence against strife. He
said that in a large measure these
undertakings have been lived up to and
that the usual reduction of wages and
strikes which have followed times of
has been done to keep construction and
betterment work going both by the
Government by the States and by the
big public utility corporations.
THE result of magnificent cooper
ation," he said, throughout the coun-
try has been that actual suffering has
been kept to minimum during the
past IL months, and our unemployment
has been far less In proportion than in
other large industrial countries"
Some time ago, the President con-
tiEued, it had become evident that the
unemployment would extend through
the Winter months. The Nation, he
said, had definite duty to see that nc
deserving person in America suffers
from hunger and cold. For that rea-
son he had set up more intensive CO.
operation throughout the country,
which has been bearing results.
Unemployed Have Increased.
The census last April. he said, had
shown 2,5o0,000 unemployed in the
country. There has been an increase
in unemployment since then in some
Of the larger trades according to the in
dex OF the Department Of Labor At the
same time, ne called attention to the
fact that normally there are about
VINO are not without annual income but
are temporarily idle in the shift from
enc Job to another.
"As contribution" said the Presi-
dsnt, ito the situation the Federal Gov
ernment is engaged upon the greatest
program CT waterway, harbor, food
control, public building and airway I'm
provement in all our history. This, to-
gether with loans to merchant shin
builders, improvement Of the Navy and
in military aviation, and other con-
struction work OF the Government will
exceed $500, ,000, 900 for this fiscal year.
This compares with $253, 100000 in the
fiscal year 1928F
The President said, however, that
there must be no embarkation upon
public works that were not really headed
by the country. He said that there
must be more speed, too, in getting pub
lc works under way so as to give the
sible.
Ia making his Recommendation that
the Congress appropriate an additional
500 0,o00, 600 to $3.50 ,O00, 900 for public
works. to be available immediately,
the President recommended that this
money should be made distributable
to the various departments upon rec
ommendation of q committee Of the
cabinet and approval by the President
Its application to works already au-
thorized BY Congress, he said, assures
an expenditure upon construction of
al kinds Of more than $3.50, ,OOO, 900
during the next IL months.
ut Is my belief" said the President,
that after the passing of this depres-
sion, when We can examine it in retro
Spect. we shall need to consider a num-
Der of other questions az to what action
may be taken by the Government to
remove possible governmental influ-
ences which make for instability and to
better organize mitigation of the effect
OF depression. There are many admin
istrative subjects, such as departmental
reorganization, extension of the civil
service, readiustment of postal rates.