Evening star., 1930-12-02
SEES u s. LEADING
IN TRADE REVIVAL
General Motors President
Believes Fight on Depres-
sion Will Bear Results.
BY JOHN F. SINCLAIR.

Special Dispatch to The Star.
NEW YORK, December. 2-Alfred
Sloan, jr president of the General Mo-
trs Corporation, does not believe there
is any one plan business can adopt to
problem is too sweeping and far-reach-
ing for any one industry to do more
than contribute its bit to the solution.
Economic readjustments which are
taking place are SO fundamental that no
one industry is in a position, where
its action or policies alone will turn the
tide" said Mr.. Sloan. THE efforts
which all executives are making to
maintain employment and to adjust
their production schedules to the needs
of the immediate future will in the ag-
gregate, bring about an improvement.
Each executive is naturally working in
different way because of the variation
in the methods which are suitable
TO different lines of business.
II do not believe, however" Mr..
Sloan added. THAT II is possible at
this time for any one plan to be adopted
by business in general. The important
point is that every executive realizes his
responsibilities and is enGeavoring to
control the situation under his juriSdic-
ton. In the end this intense applica-
ton to the immediate problems will
clarity the existing uncertainty and
general forward movement in activity
will be noted"
What nation, in your opinion, will
lead the world out of its present de-
pression?" I asked him.
Il believe the United States will lead
in the worlds business recovery, pri-
marily because of our standard of liv-
ing. We still have in this country
greater margin between the cost of ne
cessities and the real wage. This mar
gin, in my opinion, will not be perma-
nently diminished by the prevailing
state of business. Over a period of time
the margin will become reservoir of
purchasing power, sufficient to inau-
gurate business recovery"
Urges Prosperity" Loan.
"Let Congress pass a billion dollar
prosperity loan and use The proceeds
to stimulate business and industry
through gigantic public works pro-
gram and thus provide additional work
for hundreds of thousands now idle"
This is the suggestion of the Emer-
gency Committee for Federal Public
Works, consisting of many well known
business men, including Frank C. Mum
son, John E. Ruston, Amos Pinchot,
Paul U. Kellogg. Richard S. Childs,
Henry S. Butterheim and others.
An aggressive campaign to popularize
this idea is taking form rapidly in New
York City. The committee contends
''The loss to business men, Investors and
wage earners, by reason of the existing
business depression, is not less than
81 ,000,000,000 a monitor $4,000, ,000,-
600 year"
But would such move increase
taxes? Yes, unless the ST. ,000, ,00O, 900
flo Nri~
OF the national debt is suspended dur
ing the emergency period.
II the City of New York, commencing
January l next, were to launch a five
year program to house decently a mil
lion inhabitants of our Slums," saws
Paul Blanchard. executive director of
the Emergency Committee, I'VE estimate
That 10000 now unemployed building
trades workers would be sure of regu-
lar employment throughout each wear
until 1885,
Unemployment InexcusabIe.
Unemployment is inexcusable. The
United States is rich, powerful coun-
try. 1t has more wealth and income
IMAM all OF Europe combined, although
II has only fourth as many people. It
has had 10 years of record prosperity.
therefore the wealth of the United
States is approaching $400, ,0OO, ,0O0, 900.
If the business leadership of the
country does not unite and work out a
sensible, sane, constructive program.
which viii alleviate extreme unemploy-
ment, then other groups must take I'D
the work and see It through.
There Is some reason and excuse why
unemployment exists8 in Europe, but
there Is no reason basically why it
should exist in fabulousl, rich America.
Unemployment is social blight, and
should and can be done away with.
Figures on Commodities.
The following figures tell the story of
business as it is. Study them carefully,
and this question will Immediately sug-
gest itself: Can commodity prices go
down any further?