Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-26
HOOK-UP Of TRADE
UNITS HOOVER AIM
Business, Agriculture, Labor
and Industry Brought To-
qether for UnSed Drive.
BY DAVID LAWRENCE,

President Hoover summoned the
business and industrial leaders of the
country today not to propose pro-
gram of "artificialitieS, but to Stimu
late the organization of private initia-
tive" and to coordinate it with gov
ernmental activities so as to further
aid in the progress of recovery of bust
ness. agriculture and employment"
Mr.. Hoover in his address opening
the conference had no specific sug-
gestionS. Rather did he feel that bust
ness and industry and agriculture and
labor could get together under Govern
ment encouragement in program of
their own. Staggered employment is,
of course, suggested, but Mr.. Hoover
agrees that the Government cannot
bring it about except in its own SerV-
ice
Credit expansion is another term
used by the President, but he recognizes
here, too, that banks and industry must
agree among themselves on increased
use of credit or the adoption of new
credit Observation-Disclosures.
Many Hazy on Program.
Most of the business and banking
leaders who came here at the invitation
of Owen D. Young, who acted on be-
half of the President, had no clear
idea of just what the conference was
to do. Mr.. Hoover'S address gave them
an outline of what he hoped would be
the basis of discussion The appoint
ment of committees to carry on the
study of business and governmental CO.
operation was anticipated.
Naturally since the conference comes
in the middle of political campaign
whose principal issue is the economic
condition of the country, there was
SkepticiSm expressed here and there
about the possibilities of success. Even
though Mr. Hoover was credited with
a desire to accomplish economic i'm
provement primarily, there was no es-
Gaping the possible political significance
that would be attached to the move,
especially as the President traced the
course of the depression and revealed
| how the tide of battle had run since
1929 and how events from abroad had
prevented the successful fruition of
steps undertaken in America 1t is
this constant reference of European
and South American happenings which
has become the backbone of the Re
| publican campaign answer to the criti-
| ciSm that Mr.. Hoover did nothing to
alleviate the depression until last Oc-
tober.
Revelation of Events.
Apart from politics, Mr. Hoover's
revelations of some of the crises that
were covered up more or less a few
months ago when boarding became
dangerous and confidence was seriously
disturbed are interesting as historical
background, which the President feels
he can tell about now that he feels
convinced America has overcome the
major financial crisis-a crisis in sever
ity unparalleled in the history of the
woodland that with its relaxation
confidence and hope have reappeared
| in the world"
Undoubtedly the gathering of bust
ness men-the most impressive since
December, 1929-is going to be consid-
cred by non-political folks as a sign OF
| organized action. but the politically
minded think the best results will flow
from the conference when the election
, is out of the way.
Copyright, 1922