Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-08-26

II1CS 4ldfC DCCl iAAC IA RASNAc
their own houses in order. The
Lausanne agreement has contributed
to return of confidence. But. while
we thus see growing improvement
in the financial sector, We must con-
tinue the battle upon the industrial
ard agricultural fronts. There Is,
however, a new setting OF the de-
preston. which offers opportunity
through this confidence to set up
machinery for widespread coop
Grafton of private forces and to CO.
ordinate them with our Government
agencies for aid and action in in
dustrial and agricultural fields.
Definite Projects Planned.
Definite projects will be laid before
you affecting the better distribution
of credit. of employment and COM
modities. What wish is that bank
ing and industry and business gen.
orally should in this new setting
assume further Initiative and RESPONSE
bility, and they should cooperate
with agriculture and labor and the
Government agencies to organize and
develop every possible avenue OF CO.
ordinated effort on the economic
front. Your committees have in diff
ferent districts already made positive
contributions. These tried methods
need spread and more definite ma
tional organization; they need CO.
ordination with cur governmental
programs. You can assist to make
that great program more effective.
In so doing you will bring hope and
added security to every farm house
and every cottage door.
1t is not proposed to engage In
artifcialities. Nor is it proposed that
you attempt to settle here in a day
great economic problems of the
future. 1t is simply proposed that
you organize for action In the prob
lens Immediately before us. Great
future problems will occur to you, as
they are in the minds of all OF us.
You will, no doubt, seek the CO.
operation of national groups of bust
ness, agriculture and labor to put
such questions on the road to in
vestigation and consideration.
Offers Suggestions.
I should like to suggest to you
some general directions CT thought.
We have a powerful governmental
program in action for aid to recov-
cry formulated and organized upon
a bipartisan basis. I am in hopes
you will familiarize yourselves with
its possibilities SO as to coordinate
your activities with it.
We need a better distribution OF
credit. Credit is available. but in
many sections it is flowing made
quately in directions which would
stimulate consumption of goods and
employment. 1t needs resolution to
use our banking and governmental
resources and coordination to make
them effective. There can be no
question that there are in certain
sections large numbers of businesses,
particularly small businesses, which
have been unable to find the credit
facilities to buy raw material and
to employ labor on goods which they
can sell. There are difficulties in
live stock and farm credits. There
are foreclosures of home and farm
mortgages because of inability to Sc
cure renewals. Yet credit is avail
able if it be properly directed.
In the furtherance Of business re-
covery it is clearly necessary that
there be coordination of effort in
Fastening the return Of unemployed
to employment in their natural in
dustries. It is doubtful whether any
action we could take at this time
would so greatly accelerate our prog
ress, serve the welfare of our unem-
ployed millions, or so quickly give US
as a Nation the benefit of widespread
spending power as further spread OF
equitable plans Of sharing the avail
able work. AS matter of national
policy, the shortening of hours IS
necessary not alone to meet the
need of the moment, but it may be
necessary to take up the slack in the
future from the vast and sudden
advance in labor saving devices.
AS the result of conferences SINH
lar to this nearly three years ago
many industries realigned their
operations by shorter hours to re-
tain hundreds of thousands OF
workers who would otherwise have
been dismissed. Nevertheless the
still further spreading of available
work in industrial, commercial and
service activities, especially with
every recovery of employment, would
be a vital contribution. Your COM
mittee in the twelfth district re-
Gently inaugurated a drive for this
spread of work. Already it is a
great success. Many methods have
been proposed by labor and indus
trial leaders to Systematically shorten
hours. While I heartily favor the
purpose of these plans, I agree with
both the employers and the leaders
of labor whom I have consulted that
its direction is not properly the
function of Government, except as
applied to the operation of Gov
eminent service. Moreover with all
the various phases of employment
and operation to be met in private
business no general rule can be ap-
piled. Results must be achieved
through cooperation on the part
OF employers and employees suited to
each locality and industry. sug-
gest you should consider the effec-
tive part which you can play in
further forwarding organization to
this end.
War Not Yet Over.
do not need to remind you that
the distressing problems of agricul-
ture are not alone the problems of
the farmer and the Government. Its
relief is one of the primary foun-
dations of all progress in our coun-
try, and upon it does the progress
of your business depend. 1t is as
much your problem as it is the prob
lem of the farmer, and cooperation
of your committees with the lead
ers of agriculture and the agencies
which affect their welfare cannot
but be helpful.
The other speakers will compass
these many questions in detail, and
I have but one final word. Now as
always recuperation of the country
will be the result of the multitude
of activities of our citizens and the
sustained confidence of our people in
its great future. The problem be-
fore this conference Is not to settle
great questions of the future, or to
establish artificialities, but rather by
practical steps today or organization
contribute to make more effective
the activities of every agency which
can promote the recovery Of the
Nation.
The great war against depression
Is being fought on many fronts in
L. i e