Evening star., 1930-12-02
BUSINESS LEADERS
WATCH CONGRESS
Session Expected to Pass
important Legislation Af-
fecting Economic Situation.
BY J. C. RoYLE.

Action Of extreme importance TO busi-
ress throughout the United States may
be taken by the present Congress, de-
spite the fact that 1t Is short session.
Leaders of both major parties agree
that unemployment Is the most press
ing problem which faces the country
and declare no time will be lost In con-
sideration of legislation which win tend
to solve 1t for the immediate future and
prevent occurrences of its ills. This in
itself will be prime factor in business.
because buying power depends directly
on earning power of workers.
Farm Board Funds.
Congress win be asked for approuria-
tions for use of the Farm Board in sta
bllizing agricultural prices and market
ing and to provide aid for farmers in
orought-stricken communities who lack
seed and other essentials. The entire
marketing OF grain, cotton and other
commodities may be changed by accept
ance OF the plans OF some members of
congress TO check or prevent dealings in
futures. The legislation introduced may
provide for hedging" by manufacturers
IN order to protect themselves in the
purchase OF raw materials, but even the
methods OF doing this may be altered.
muscle Shoals plans will be considered
anc II brought to conclusion NAV tend
70 establish precedent as to the uart
1ne government can or will play in the
Heio OF power production. No legisla-
tlon at the moment is expected which
VIII olrectly affect the production of
elecLrlc power, but investigations Of
the utility companies will undoubtedly
| continue and the whole subject of SUI
perpoWer systems bids fair to he dragged
| into the political field.
IL Is definitely known that the Inter
state Commerce Commission Is deter
mined TO ask Congress for increased
lovers ana broadening Of the scope Of
us authority. The COMMISSIONS mans
Ior railroad consolidation are denend.
ent TO some extent on such a BROADEN
ing, IL Is held. On the other hand there
Is Dltter opposition to the Consolidation
oy some Senators and Representatives
eno since the railroads have an exten-
Slve program of changes In regulation
Wnlcn they hope to have put into erect.
;rle Wnole SUBJECT takes on the utmost
importance, In business and invest
Ment sense. 1t may be broadened In
include legislation affecting the opera
tlon OF buses and trucks, barge lines
coastWise and interccastal shippino air9
pianeS ana air carrier lines, and the
pipe line industry.
| Security Exchanges.
The operation of security exchanges
may come in for some attention. and
an investigation of holding COMPANIES
Is sure to be on the program The
trend toward expansion into bv-nrod.
ucts and the rounding out of corno-
raAons into complete units will bring
about renewed discussion Of the nress
, ent-day drawbacks and advantages of
the Clayton act. -
While Congress is in session thu
courts will be passing on cases before
next March which viii establish nrece.
dents in many of the newer indus
trleS that may later form the hasis
Ior legislation, and may also change
the plans of whole industries. These
cases include radio patents and broad.
casting procedure and the uackers,
consent decree modification case. which
may eventually change the entire CON-
plexion OF the retailing of food prod
Finally, the action of this Congress
on appropriations and on EXTENDING the
powers of the Treasury Department
may determine the income tax rate
which viii touch the pocketbooks If
every citizen and corporation in the
country. -, -'-- ~ SAle
(Copyright. ies0)