The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-05-02
Commission Will Be Named
to Study Cause, Cure
of DepreSSionS. i
FORECASTS PROSPERITY
Optimism Is Expressed by
President in Address
Before Chamber.
BY JOSEPH H. BAIRD
United Press staff Correspondent

WASHINGTON. May 2.-Presi-
dent Hoover plans to appoint COM
mission to study causes and cures
of economic depresSions like the one
precipitated by the stock market
crash last fall, which, incidentally,
he believes is near its end.
He revealed his plan Thursday
night before the closing session of
the United State Chamber of Com
merce here.
Only a few hours before the
Presidents appearance, the Cham
Der adopted resolution opposing
the administrations plan of help
ing farmers through government
financed cooperative marketing or
CARNATIONS. Mr.. Hoover, however,
did not take cognizance of the
chambers action in his speech.
Worst Is Passed
Mr.. Hoover told the 1900 business
representatives attending the BAN
uuet in his honor. IT am convinced
we have now passed the worst and
with continued unity of effort we
rapidly shall recover.
There is one certainty in the flu
ture of a people of the resources,
intelligence and character of the
people of the United States-that is,
prosperity"
Loud applause greeted Mr.. Hoover
when he arose to speak. This was
renewed when he gave assurance
that the business depression was
near it's end. During the remainder
of the Presidents talk his hearers
listened attentatively, but silently.
While noting a general recovery
Of business, Mr.. Hoover said there
was zone area of credit which is or
gsnized most inadequately, and
which almost ceased to function I'M
Ger present stress.
Backs Home Capital
"This," he said, sis the provision
of a steady flow of capital to the
home builder. From a social point
of view this is one of the most vital
segments of credit and should be
placed in such definitely modified
and organized form as would assure
it's continued and stable flow.
1.-The ownership of homes, the i'm
provement of residential conditions
to our people, is the first anchor in
social stability and social progress.
Here is the greatest field for ex-
banded organization of capital, and
at the same time stimulation to in
creased standards of living and
social service that lies open to our
great loan institutions.
1.-THE whole range Of our ex-
periences from this boom and slump
should be placed under accurate ex-
animation with a view to broad Ie-
termination of what can be done to
achieve greater stability for the flu
ture, both in prevention and rem
edy," Mr.. Hoover said in explaining
his new plans.
eff such an exhaustive eXamina-
ton meets with general approval"
he added, II shall, when the situa-
ton clears little, move to organize
a body-representative of business,
economics, labor and agriculture-to
undertake it"
The President reviewed the prog
ress made by the administration in
seeking to promote business activity
particularly construction to over
come the effects of the stock mar
ket slump.
Declaring 'the acceleration of con-
struction programs has been beyond
our hopes" Hoover named utilities,
railroads and large manufacturing
concerns as contributors to the gen.
eral program of business advance
ment.