Evening star., 1933-05-04
AWAIT ROOSEVELT
TRADE AID POLICY
Business Leaders Expecting
Expression on Regulation
In Speech Tonight.

CONTINUED From First Page.)
the Pennsylvania system. Addressing a
luncheon meeting at the Willard, Mr..
Atterbury indorsed this as temporary
measure for aiding rail rehabilitation.
The Pennsylvania rail head declared
also that control CT rail rates and wages
should be handled by the same govern
mental body. He declared political con-
siderations had brought rail wages TO
their present level.
Roosevelt Action Praised.
In the course Of his speech, President
Ross of the o. adian chamber ex-
pressed the belize that instead OF en-
barrassing business between the United
States and Canada, the Ottawa con-
ference, held last year. and participated
IN by all commonwealthS in the BRUSH
empire has laid a foundation 1or 1reer
trade among all nations"
There is ample scope, Dr. Ross
added, for a more satisfactory ADJUST
ment of tariffs between our dominion
and your republic without danger OF
encroachment on empire treaties"
Discussing the international econom-
ic situation, DR.. Ross said that FOR
some time the world has been looking
toward the United States, believing
that you were able to take large
share of leadership in meeting and
overcoming some of these dlfncultles
which have arisen.
The prompt action Of your Presi-
dent since assuming office, and the
powers and cooperation which Con-
gress has given him in an endeavor 10
etc
fairs. and even to deal with external
relations of your country, must be
cause of sincere gratitude and admira-
ton to all"
Change In Sherman Act Urged.
Mr.. Strawns address. advocating
modification of the Sherman act, was
delivered at luncheon gathering.
"If we adhere strictly to the theory
that competition must continue, re.
gardless of the fate of the producer, 1t
NAV become so keen as to deprive him
of any return on capital invested ana
DENY q living wage to his employe," he
said. Under the existing system, the
larger units, by law of decreasing costs,
are slowly replacing the small produc-
ers. Cannot a saner solution be evolved
by agreements which tend to equallze
production and consumption to the
general advantage?
81 do not mean to be understood as
advocating the further intervention OF
Government into business. There Is
entirely too much of that already. On
the contrary, would give the fullest
freedom to individual action within
limits defined by Government agency.
Panaceas are generally unsatisfactory
but 1 submit that industry will be as
sisted and stabilized if contracts and
regulations, having for their purpose
the proper control Of production, are
permitted.
Much could be accomplished by
amending the Sherman act SO as to
sanction agreements among manufac-
turers when. in the opinion Of some
governmental agency, the public inter-
est would be promoted If persons de-
string to enter into such contracts could
obtain governmental approval, express
or tacit, OF the legality of their pro-
posed action, and be immune from
criminal prosecution and responsibility
for treble damages. the disastrous con-
sequences would be removed"
Business Taken to Task.
self-regulation for industry was the
dominant note of speakers throughout
Yesterdays session, starting with the
keynote address Of the president,
Henry T. Hartman, but a different view
was expressed at an afternoon meeting
by P. W. Litchfield. president of the
GOODYEAR Tire Ss Rubber Co.
He took business to task for failing
to act earlier, and declared the con-
tinued decline in employment and pur-
chasing power is leading us into state
socialism or complete anarchy"
Mr.. Litchfleld asserted that he fav-
ored a minimum of Government inter-
ference in business, but, he emphasized,
we have failed to take the necessary
steps voluntarily, so the element of
force, governmental compulsion. be-
comes necessary"
At session devoted to discussion Of
foreign commercial policy, James A.
Farrell former head of United States
Steel, who is chairman of the National
Foreign Trade Council, warned against
this country taking the role of Inter
national Santa Claus" at the forth
coming World Economic Conference.
"The important problem for the
United States and for every other nation
participating in the World Conference
Is: How much of a contribution can
each nation make to international trade
without causing disproportionate harm
u.
MI Farrell added, however, that it
would be necessary for all nations to
make concessions"
Rayburn Makes Talk.
Chairman Rayburn of the House In
terstate Commerce Committee discussed
before another round-table conference
the various pending legislative pro-
posals to improve the whole transpor-
tation set-up.
He voiced the belief that the bill to
regulate railroad holding companies
would pass the present session of Con-
gress.
Joseph v. Mckee, president OF the
board of aldermen Of New York and
former acting mayor, who yesterday
announced his retirement from politics,
spoke on city finances at luncheon
meeting.
Mckee, beaten for the mayoralty by
Tammany after inaugurating a vigor-
GUS policy Of economy when he sue
ceeded Mayor Walker, said that the
financial problems now facing so many
Municipalities arise from two courses
staggering debt incurred during a pc
Rod Of prodigal expenditures which
must be paid off in time of restricted
income, and the increasing tendency
on the part of Government agencies TO
take over new responsibilities, partlcu-
larly those of a sociological nature"
Bishop Freeman Speaks.
Calling for thoroughly reorganization
Of the government of cities, Mckee
warned that the dead wood of political
officers who perform no necessary or
efficient service must be Topped from the
tree now showing signs of suffocation
from Just such growths."
Right Rev. James E. Freeman. Bishop
of Wa Washinoton Was a sneaker last night