The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1931-05-06
Unemployment Is
Discussed Before
Commercial Body

OAANAa1PAVy AtAV1lC I'D
Discussed Before
Commercial Body
Continued from page one)
Sempell, chairman of the German
Steel Cartel, who said he was strong
ly In favor" of naturalization Of pro-
duction in spite of some doubts re-
sulting from the present world a
ket situation"
Defends Mass Production
Sempell took issue with the conten-
ton mass production has brought
about the economic crisis in Germany.
He said while there was no doubt
o employees would be needed if
production were carried on under old
methods, the products would be SO ex-
pensive that expectations would stop
and imports could not be excluded,
which would result in even more un-
employment.
Swope said the first problem in
planning steady employment was to
avoid seasonal and occasional vari-
atoms and, in industries where these
measures are seemingly impossible,
to "ameliorate the hardships of un-
employment when they arise"
The tariff question was thrust be-
fore the chamber again in a state
ment from Sir Arthur Salter, former
director of the economic and finan-
cial section of the League of Nations.
Salter warned that if nations are
not willing to receive imports in pay
ment. for their exports and past
loans, a chronic disease in the world
monetary system" will develop which
will both prolong the existing de-
preston and cause and aggravate
depression in the future"
Says Success Limited
He said the League of Nations has
been devoting itself to this situation,
but its success has been limited be-
cause its main influence was in
Europe. that the great new increases
of tariff have been witnessed"
Tariff barriers in Europe, he said,
are no higher than in 1927, but this
status quo" may give way before "a
new era of competitive tariffs which
only a new effort of concerted action,
now confined to one continent. can
avert"
The effectiveness of the league de-
ponds upon the extent to which it is
utilized, he added.
Defending the free trade system,
Salter said the main foundation of
the normal prosperity Of the United
States is its constitutional injunc-
ton against tariff barriers between
the states.
DR.. Salter said one of the origins
of the world depression was the spec
ulative boom of 1929 which he de-
scribed as "a new and terrifying
phenomenon. which all of those con-
cerned with averting or mitigating
future alterations of boom and de-
preston must certainly study"
1.-The general tendency may and
should be directed toward high real
wages" said Meyer. 1T is of little
consequence to a wage-earner If his
income be decreased or increased,
provided the cost of living increases
.r decreases in the same proportions"
Economic factors, he said, are
stronger than theory and impose the
measure which must not be exceeded
without endangering the general
economic balance of a country"
Agrees With Italian
Meyer agreed with the report Of
Gino Olivetti, Italian delegate, that
the limit of high wages has been
exceeded in the United States ana
that this explains the attempt on
the part of industrial interests to OBJ
tain an increase in customs duties.
Citing the caSeS of England and
Germany since the war, Meyer said
the policy of high wages in those
countries, although in mitigated form
compared with those In America, had
not given satisfactory economic re-
suits.
He blamed part of Great Britain's
troubles on the fact that while she
has free trade the cost Of living and
wages r high.
Great Britain, he said, had been
considering abandonment of her free
trade policy. This he termed a very
grave problem and one which might
upset the economic structure"
The tendency in Germany now is
toward lower wages and q decreased
cost Of living, he said.
Russian Question Shelved
While resolutions endorsing future
trading and calling for a world wide
conference on silver sterilization have
been passed on to the international
gathering for action, 1t appears that
the Russian trade question has been
shelved.
Although on Tuesdays agenda. de-
bate on other subjects crowded it out.
There was q promise 1t would be given
attention later. but where 1t would be
placed in an already full program no
one could say.
Hugh L. Cooper. president Of the
American Russian Chamber Of Com.
merce, was prepared to discuss the
subject when Tuesdays meeting adj
journed.
In his prepared speech. which was
distributed to delegates. Cooper. .
noted engineer. predicted Soviet Rus
sia would buy ct least $1,000, 000, 900
worth Of goods annually III the out.
side world will consider this trade op-
portunity on sound economic prind-
pies"
He suggested q study Of the Russian
trade outlook by interested nations
with Q view to holding Q conferences
with the Soviets to formulate interna-