The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-19
BY LYLE c. WILSON
limited Press St,e

lCopyright. 1889. by United Pressl
WASHINGTON. Aug. 19.-Busi-
ness and industrial leaders revealed
to the United Press today that they
are coming to President Hoover's
economic conference hopeful of the
BUSINESS future and ready to fight
to make their hopes come true.
p Mr.. Hoover plans a front-line as
sault on depression. His volun-
teer aids have been invited from all
parts of the nation to meet here
Aug. 26. They comprise the indus
trial committees of the federal re-
serve districts.
United Press inquiries brought
from many of these men express
sionS Of confidence and plans Of
battle. A few are coming to listen.
Others said the average business
man already was listening too much
and doing too little.
Would Cut War Debts
Colonel william Cooper Proctor
of Cincinnati advocated reduction of
war debts. P. A. O'Connell of Bos-
ton denounced price-cutting
The Presidents view of the con-
ference agenda is that in general it
is to organize "a concerted program
of action along the whole economic
front"
Specifically. the conference is to
survey the problems of extended
credit facilities for business, in
dustry and agriculture, with a view
to moving commodities from pro-
ducer to consumer, thereby Great
ing profits and jobs.
Replies from men invited to con-
fer at the White House reflected
improved conditions. They were
cautious optimists. None chose to
report that '.happy days are here
again."
But there was evidence of hope
plus confidence plus a willingness to
do more than sit back to cherish
the hope.
Here are some typical statements
of the big men Of a number of scat
tered communities:
AACAA AAaAAAAC0p
Colonel William Cooper Proctor,
chairman of Proctor 81 Gamble
Co., Cincinnati)-Our troubles have
been caused mainly by o~ver-exten-
sion of credit and declining foreign
trade.
War debts should be reduced or
Cancelled. They will not be paid.
France and the United States have
kept their debtors from payment of
principal and interest by maintain
ing the highest tariffs in the world.
The tariff now is a handicap to US
and the entire world.
c. C. league CLOS Angeles)-I
believe with the advancing market
there now is a definite trend up
ward in conditions. More conf
dence is being shown throughout
the nation.
Walter S. McLucas Kansas City
Understanding should come
out of that meeting instead of try
ing to make something come out
ahead of it.
P. A. O'Connell (president Ma
tional Retail Dry Goods Association,
Boston)-The action Of many mer-
chants in slashing prices below cost
and flooding the market with trashy
merchandise upset confidence in all
prices and speeded the public on It's
bargain hunting stampede. The
country is sound.
Urges Aid to Farmers
DR.. Arthur Gilbert Massachusetts,
state commissioner Of Agriculture
Restore adequate buying power to
the farmers to obtain permanent
economic recovery. Banks should
loan in ways best suited to farm en-
terprises.
M. j. Healy general manager,
John Deere Plow Company, Kan
sas City)-It is a serious mistake
to rely entirely on the government
and big industrial leaders to fight
the battle Of bringing business to
normal. We all must discontinue
talking about conditions Of the last
two years and begin talking about
things We will do in the next ten
Vearc