Evening star., 1932-12-31
PLAN FOR RECOVERY
IN BUSINESS URGED
Statistics Company Suggests
Program to RehabiIitate
Trade OF Nation.
Special Dispa tch to The Star.

NEW YORK. December 3l.-The
time to be thinking about recovery, to
be talking about recovery and to be
making concerted effort to achieve
recovery has arrived, and protraction
OF the present depression at its present
level is absurd and unnecessary. says
the Standard Statistics Co. Of New
York In urging vigorous prosecution of
simple and practical program, which
1t claims, II accomplished during 1888,
will see the new year characterized by
expanding volume of business, rising
commodity prices and rising security
prices. Salient points Of the program
follows:
Balance the Federal budget. This Is
paramount To provide a portion Of
the revenues needed for budget bal
ancing. modify the Volstead act to per-
NIT commerce fully taXed) in light
beverages of natural alcoholic content;
levy a general sales tax. II necessary,
and. II further necessary broaden the
income tax base by reaching down to
incomes smaller than those which now
come within the provisions Of the reve-
nue. act. To alleviate the necessary
additional Federal taxes, insistently
express the public will for rigid econ
omy in Government expenditures, and
for still greater economy in State and
municipal expenditures.
Let the Congress--this and the next
resolutely assure the world that it has
no intention OF diluting the currency.
Debt Solution Vital.
Definitely, conclusivelv and promptly
settle the question of the debts OF for
eien governments to our Government
Settle them on the basis of great re-
duction in the amounts We propose 10
try to collect Settle them on terms
that are practical of fulfillment.
Make a start toward the revision OF
our commercial banking system.
Provide much-needed agricultural aid
but provide it on the least expensive
basis possible provide 1t without the
flavor of political expediency, and direct
it where 1t will do the most immediate
good.
Facilitate continuance through 1888
land longer II necessary of the easy
money conditions currently being fos-
tered by the policies of the Federal Re-
serve System. The Glass -Steagall bill
which expires March 3, next, should be
extended.
Keep the Reconstruction Finance
Corporation in existence as an agency
for emergency financial relief, but
greatly curtail the scope Of its activi-
ties and its spending powers.
Permit business to expedite its own
salvage program by alienation of the
depressing needlessly severe antitrust
regulations.
Business itself can make an enormous
contribution. both to the actuaities
and the psychology Of recovery, II il
takes full cognizance of all maturely
considered plans to give more work to
more people without further restricting
materially the purchasing power OF
these who now have jobs. The pro-
posal for the general shortening Of the
working Gay appears to be valid one.
Low Revision Urged.
Make start with revision Of the
bankruptcy laws. so that corporations
in financial difficulties may, under Just
agreements, arranged and assented to
by substantial majority of the credi-
tors and partners. reorganize without
the heavy expense the insufierable de-
lays and the unnecessary disruptions ol
ordinary receiverShip. Orderly liquida-
tion OF impossible business situations
is not in any sense incompatible with
business recovery. The two can march
together. side by side, in 1888 if the
machinery for more orderly liquidation
is established