Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-23
BOOM IN BUSINESS
|. IS PREDICTED SOON
Boston Financial Expert Be-
IieveS New Industries
viii Aid Nation.
special Dispatch to The star.

greatest boom that the country has
ever known" he says. The country
faces program of expansion. invention,
scientific development and the arising of
new industries and new modes which
promise to make the next 10 years in
American industry and finance far
greater than the last 10 years.
The business leader who is peSSimistic
today has vision that Is too provincial.
an outlook that is too limited, and a
courage that is weak"
But what's to bring this new business
boom into being? Mr.. McNeel is ready
with many suggestions:
Television. new building construction,
natural. gas and pipe line developments,
frozen foods, dry ice, the airplane In
dustry, Aim monographs, heating radio,
artificial ventilation, identification OF
railroads, electric welding, electrically
made steel, the use of glass brick, the
use of chromium, copper, bronze, alumni
mum, rustless steelS for building exte-
riors. electric ships, humidified indoor
air. central heating and cooling systems,
central newspaper plants and hashlng
newspaper pages by television across the
He enumerates score of other sug--
gestions saying that the program OF
American expansion in the next decade
will be greater than anything that mas
ever Deem dCCOulPI4oAAC0 Ia oAAy SN@@~~-~~
neriod in the life of the Nation"
one of the largest general merchan-
disc distributing agencies in Chicago
has announced drastic cuts In more
than 1000 merchandise items, DE-
scribing the changes as "one OF the
most inclusive downward revlslons OF
prices in the history of American mer-
chandiSing." .,-,
is the discovery that the public in many
localities are on a buying strike.
"People are expecting lower prices"
saws an officer of the company. They
are not wiling to buy goods at last
Springs figures. We are Offering our
merchant customers the lowest prices In
months and in some instances Ine low! low
est in years, and are recommending
that they pass these on to the public.
This is done in the hope that the
public will recognize the lower price
level as stable"
How much lower are prices now than
year ago?
wheat is down more than so per cent,
corn about 20 per cent, cotton tuhy on
Wool. which sold at "a cents pound
a year ago, is selling at IS cents now:
Raw silk, which sold at S4.85 pound
a year ago. sold last week at S3.1712.
Cotton goods, 7ss cents yard year
ago, is selling at cents now.
Put 1t this way: According to Brad
i streets weekly food price index, IL TOOK
1895 to purchase one year ago what
S2.67 will purchase today. So money
now has about Is per cent more pur-
| chasing power, in the line of foods, than
year ago.
President Hoovers comment that he
was not nearly as much worried about
| the wheat surplus as about the sur
Il 1v41xy aCr Ie
| to the rural fire now raging, especially
f, in the Middle West and South.
Last week a special committee OF the
American Bar Association condemned
| the farm relief measure as IAN uncon-
stitutional and vicious attempt to de-
base our great republic into Soviet
commonwealth"
Today the Federal Farm Board finds
itself holding the bag to the extent OF
go 900 900 bushels of last years wheat
and 1,250,000 bales CT cotton. TINS
surplus, in itself, is one of the most
important factors in holding down
prices.
Even the Nation, the Liberal weekly,
| takes crack at the Farm Board policy,
thus:
"The Government itself is in the,
worst possible position for pleading with
the farmers (for reducing wheat and
cotton acreage), for the whole theory
of the idiotic plan of farm relief is that
the Government, by buying and holding
any surplus, will thereby steady the
market and so indirectly regulate
prices"
Here are two opinions-one conserva-
tive. and one liberal-both condemning
the present farm relief experiment.
1.-The farm relief program spells
calamity" continued the Nation. 1T
means stagnation for agriculture, huge
financial loss to the Government and
continued depression in every industry
whose products the farmer would ordl-
narily buy, in addition to 1eopardlzlng
the existence of multitude OF the
legitimate middlemen."
It is difficult to see how the Farm
Board can make much progress In the
direction of more limited production
under such strong opposition.
Still, in the present drive for acreage
reduction lies its only hope for immedi-
ate success It's one of the two Dig
factors needed in any agricultural re-
vival The other factor is well or
dered and well established cooperative
marketing machinery, backed up by the
farmers themselves.
Prof. John Deweys plea to President
Hoover for a special session of Congress
to enact unemployment insurance comes
at the same time that Great Britain
announces the greatest unemployment
in the last nine years. ,933, 900 people
receiving government doles, an increase
of $4,000 in the last week.
Prof. Dewey calls attention to the
statement of the National Bureau OF
Economic Research that the national
income in 1923 was $89, 419, 900, 900,
while, exclusive of wheat, the total value
of Americas merchandise exported
amounted to only per cent of the ma
tional income, and then the professor
proceeds to suggest his plan to i'm
prove business conditions to a very
marked extent"
"A national system of contributory
unemployment insurance. with the Fed
eral Government paying ST 600, 900 900,
with the several States and employers
and employees jointly the same amount
in the aggregate % per cent of the ma
tional income-would largely relieve the
most serious unemployment" says the
well known Columbia professor.
It's not burdensome plan, for Prof.
Dewey points out that the proposed
Federal Governments contribution to
conquer this real menace at home is
only a small amount more than 1t
spends to prepare to fight non-eX-
iStent enemy abroad"
Owen d. Young said recently that UNI
employment was not necessary eVll,
but a human problem capable of solu-
ton This is the enlightened attitude
of the modern leader.
(Copyright 1880, by North American News
paper Alliance-)