The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-01-25
Bosses Issue More Crisis Lies.


Hoover's National Business Sur
vey Conference, headed by such i'm
perialists as Owen D. Young, of
the General Electric Co.; Myron C.
Taylor, United States Steel Cor
poration; Walter c. Teagle, Stand
ard Oil; Pierre S. du Pont, of the
leading war munitions manufactur-
ers, du Pont de Nemours & Co.; and
Thomas w. Lamont, of Morgan &
Co., in Washington, Thursday, and
announced that business was becom-
ing ,tter.
, On the very same day, the Fed
eral Reserve ID published the
fact that business declined 6 per
cent during December, following
9 per cent decline in November.
'The largest declines in Deem
Der, as in earlier months" said the
Reserve Bank, were in automobiles
and iron and steel. Production in
the textile, shoe, lumber and nom
ferrous metals industry also declined
considerably"
The decline" reported for Decem-
Der by the very Federal Reserve
Board that the capitalists depended
on to stop the growing severe crisis,
comes on the heels Of continued and
steep slumps in all basic industries
beginning last September.
Another step in the direction Of
merging, the RAILROADS of the coun-
try was taken yesterday in Congress
when q resolution authorizing the
Interstate Commerce Commission to
investigate railroad holding compan-
les was unanimously adopted by the
House. With less than half an hour
spent in debating" the measure, it
was generally accepted as prelimi-
nary to further legislation helping
railroad consolidation.
The creation Of giant railroad
merger will throw thousands of
workers out of work, while the CEN
tralizstion Of one of the country's
most vital means Of communication
will strengthen the "home front" of
American imperialism for the i'm
pending war "abroad."
Commenting on the obvious lies
OF Hoover, Davis and the National
Business Survey Conference, the
more open and frank mouthpiece of
the finance-capitalists, the Annalist,
sharply questions "a0hether the pre-
sent fact Of business depression is
IN any wise remedied or improved
BY optimistic official statements
(Which are unsupported, If not flatly
contradictsd, BY the most dependable
statistics" (Annslist, Jan. "a, 1930)
Secretary Of Labor. Davis, was
riled because his announcement that
"the employment situation was i'm
proving was completely riddled by
facts from all over the country, and
particularly those published by
Francis Perkins, commissioner of
labor of the state Of New York.
The latest figures issued by the
Illinois Department of Labor show
further increasing unemployment.
In Illinois there were 1s1 applicants
for every Job listed as compared to
lat applicants for every 100 jobs
in October, when unemployment be-
gan to become severe.
Payroll totals fell off as per cent
during December.
''The polunts of unemployment is
considerable" says the Illinois De-
partment of Labor, "a large porun,e
of common labor is idle, presenting
a serious unemployment problem II,
practically every large city Of tho
state"
Even Davis, who followed the
Hoover policy Of mechanically re-
peating that conditions were good
all during the sharp declines in un.
employment, now admits that "there
is no disputing the fact that the
month Of Nopensber and the month
Of December vere the worst we hdd
in gears"
Then he adds, as proof that con-
ditions are improving, that "there