Evening star., 1931-06-27
CHAMBER FAVORS
|. HOOVER PROPOSAL
American Commerce Group
Urges Business Mobilize
Behind Plan.

The American section Of the Interna-
tional Chamber of Commerce, through
Silas H. Strawn, Executive Committee
chairman, has moved to mobilize world
business sentiment behind the proposal
of President Hoover for 4 debt-delay
plan.
Mr.. Strawn yesterday cabled the
Paris headquarters of the International
Chamber that the committee is con-
vinced that the Presidents proposal sis
great and constructive step that
should appeal to business throughout
the world as most helpful in promot-
ing recovery from the depression and
will encourage good will among the
NATIONS"
Sees Worst Slump Past.
Meanwhile, the directors of the
United States Chamber of Commerce
in session here yesterday issued state
ment assuring the business world that
the worst phases Of the depression were
past. The directors. at the same time,
advanced a six-point program of "help-
ful emergency treatment embracing
recommendations with respect to gov
ernmental and industrial action.
The directors program indorses Pres
ident Hoover's proposal; urged an ade-
qlate return for railroads; suggested a
halt on retirement of the Federal pub
lie debt temporarily, in order to avoid
tax increases, and seeks curb on de
preSsive short selling or other manip-
ulations" on the exchanges. The sta
bilization Of employment is recon-
mended
Oppose Tariff Change.
The directors also have taken a stand
against tariff revision by Congress, urg-
ing instead that full advantage be taken
of the flexible provision of the tariff act.
The concluding paragraph Of Mr.
Strawn's cablegram stated: "The Amer
ican Committee recognizes that the pro-
poSal of President Hoover requires tenn
porary financial sacrifices by some Of
the governments, but it firmly believes
that the proposed action will not only
inspire confidence and strengthen IN
ternational credit, but will give stin-
ulus to trade and general business re-
covery which will ultimately inure to
the inestimable benefit of every creditor
nation"
The directors approval of the debt
moratorium gives substantial indoIse-
ment from the business world to Presi-
dent Hoover. Backing him in his effort
to win more complete cooperation from
France for his plan, the directors ex-
press the hope that mo national views
will initiate against the success of an
action which has already inspired the
whole world with hope"
The pronouncement of railroad earn
ings brings the chamber into the CAMPS
of the railroads in their effort to obtain
higher rates.
Propose Debt Increase.
The statement with regard to tax
policies comes at a time when a pros
pective Federal deficit of 5000 0,000, 900
is in the offing. In a move to forestall
a tax raise at the next session of Con-
gress, with its possible harm to busi-
ness. the directors propose as an ac-
ceptable alternative "a moderate in
depression.
The statement of the directors follows
in part:
Public confidence in railroad and
other securities should be strengthened
by fair earnings on vast publicly regu-
lated investments The chambers menu
bership has repeatedly declared that the
rates charged for transportation should
yield an adequate return on the fair
value of the property used by the rail-
roads for transportation.
"Our Federal Government tax receipts
in years of prosperity have proven to
very largely exceed the needs of the
Government and have resulted in a
larger retirement of the public debt
than necessary.
Need Rising Prices.
"Values of credit resources, the buy
ing power of agriculture and other pro-
ducers and business confidence gener.
ally, would improve directly from
soundly rising-instead of declining
prices.
I'VE welcome the declaration of the
International Chamber of Commerce
that world tariffs should be framed up
on definite principles and commend
mission is effecting adjustments Of
schedules to fall within the rightful
principle of protecting Americas higher
wage scales"