The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-01-06
Hoover Business Elixir Succeeds

That is a fine yindication Of President Hoover's plan
for taking the slack out OF unemployment and OF OIL
setting the psychology of pessimism which the SUCK
market de5acle ind~uced-the announcement that pledges
of utility, public and industrial improvements SO far total
$4.7oo Ooo. 900 for 1890.
To get the real significance of this expenditure 1t mus
be realized that this vast sum represents far more than
s4.7oO 900 900. 1t will circulate through the nation. Thus
each dollar will perform multiple functions as it passes
from hand to hand. 1t will pass to the wage Garner. to
the retailer, to the wholesaler. to the factory producer.
to tho labor employed there and then back to the retailer
again on its circulatory journeys. This Will mean q
volume of stimulation many fold the original sum and
it will set up a current OF business which will draw IN
side currents.
OF interest locally is the fact that of this total OF
billions, 81 ,0o8, 600 will be spent in this district by the
North Dakota Power and Light company in increasing
the efficiency Of its transmission system. North Dakota
also is certain to get a share out of the Improvement
budgets of the several railroad companies traverslng the
state. The erection Of the new memorial community
building will be the first step in what probably Will be
another extensive building program right mere IN the
city. And if the Montana Dakota Power companys pro-
gram for laying a natural gas line across the state to
link up the Baker fields in southeastern Montana goes
through this summer. as it is proposed after an unavo'd-
able holdup last year. probably $50 men will find employ
ment in that project. with Bismarck as headquarters.
A better feature even of the Hoover system just going
into effect is that while the $4,7ooOoo.00o program OF
pledges is a temporary %expedient to offset the psychology
Of depression by its publicity. this instance is the launch
Ing Of a permanent method of handling slack employ
ment and keeping public improvement on an even keel
by which the people will know that the nation Is rloing
the industrial and business situation safely.
Eventually the Hoover innovation Of having 400 lead
ling business and industrial men serve as an advisory
commission to stabilize employment. expenditure on pub
lie and industrial projects and to supervise this side OF
the economic situation against such depressing effects
as the recent stock speculation slump may prove equal
in its wisdom and results with the accomplishments OF
the Farm board, just plugging in on It's vast task OF re-
licving agriculture.
Incidentally it looks as though 1880, once 1t gets
started on public improvements. may become one OF the
big industrial years of the period. Weather conditions
may hold back the tide of prosperity till more favorable
days, but an employment boom shortly is not beyond the
bounds of possibility. That would mean a revived volume
of business. although the United States chamber Of COM
merce reports there has been no slackening of momen-
tum. according to reports to the national business survey
conference committee.