The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-05-02
Planning PrOSDarify

In discussing the depression, the annual meeting
OF the United States Chamber of Commerce at At
lantic City has discovered one type of solution and
several obstacles.
Most OF the speakers, approaching the crllx issue
from the viewpoints of separate industries seem to
come in the end to virtually the same conclusion
that business must be stabilized by advance plan
ming No intelligent person will find fault with that
proposition. 1t is obvious. To stabilize business bv
advance planning is to break the unemployment cycle
and help perpetuate prosperity
But adequate advance planning by a single COM
pany is almost impossible. Under the competitive
system one company usually fears to take steps to-
ward employment reserves the staggering of orders
and other sterilization measures without co-opera
ton of competitors To be effective planning must
be central planning
To meet this need L. C. Reynolds of the American
Writing Paper Company proposed to the chamber a
system OF national control Of industry through
organizations Such would be practical if trade or
CARNATIONS should be clothed with legal authority and
all business enterprises compelled either to belong to
their respective associations or to abide by their de-
cisions mutually arrived at"
But there must be no governmental interference ,,
Reynolds added
And just there is the dilemma in all such plans.
II understood correctly They aim at quasi-govern-
401Cdl HaUoIlaI organization or an industry whose
powers for good i'll would be far greater than the
old style monopoly but which would be left entirely
free from regulation or control by the government
Isn't that another of trying to eat ones cake
and have it, too?
Granted that complete anarchy or destructive
rugged indvidualism," In business produces newt
able cycles of depression and that stabilized pros
perty depends on cooperative centralized planning
there appear to be two alternatives
one Is voluntary action by private business The
other is government action, in which the government
would hold the power of regulation over centralized
trade agreements having official sanction
Probably most Americans will grant that the first
method is preferable.
But private industry be persuaded to reform
itself by voluntary sterilization plans? It can not,
dustry at the University of Pennsylvania who told
the chamber that only about 10 per cent of industrial
leaders "are alive to the present situation"
Therefore, DR.. Willis predicted that industry if
left alone, would drift unprepared into another de-
preston in few years. The desired sterilization
would require all the agencies OF our economic and
political organizations" he warned
We do not profess to know the precise solution
to predict the future But we believe the general
trend is clear. There is increased demand for sta
bilzed profits and stabilized employment through
central planning.
If industry itself not or will not meet that
demand, will not the government finally be forced
to step in? The people have suffered two very serious
depressons within a decade. The people simply can
not stand two such depressions in the next
decade.