The Waterbury Democrat., 1933-11-17
fsnaciaI to The Democratl

|. Y0WLLNMA NO AANC AFCAAaOlANAI
 Naugatuck. Nov 17 = Warning
 that no matter how helpful the >NRA may be, business won't be | stable until the big leaders of bus fness change their attitudes, Pro- {. fessor Hudson B. Hastings, pro- s lessor of the department of applied \ science of Yale, pleaded that bus . iness men make the game of bus Illness a clean game and a good ! game in an absorbing talk before 2 the Foremen's Club at the YMCA . last night. Professor Hastings talk [ ed as a substitute for Dr Howard { fHaggard of Yale who was unable to keep his engagement to speak because of being suddenly stricken !. i'll with pneumonia. There were 2 s120 present.
 With men of the calibre of , Charles Mitchell and Albert Wig [ gin at the head of business there are no Ililes in the game of bus 'iness which will be worth having. A moral regeneration in business is 1. necessary he said. The problem is . mot one of government but one or [ the individual.
 2 "Play the game of business for the good of the whole, Professor Hastings said. T am not asking { anyone to forego his legitimate pro [ fits. Adopt the life and let live [ idea he urged.
 " Prices will Rise 2 Prices are going to go up before . long and we are coming out of the depression, MIRA or no MIRA. the s lspeaker asserted. What the MIRA is [ doing is certainly helpful and the .outlook is distinctly favorable. He ; warned, however, that when we do . 'get better times there is great 4 danger of a speculation boom such [ as the one which occurred in 1928 [ and 29. Apparently we aren't at all { kfraid of such things now. l think |. the government will have to apply \ the brakes then just as it is trying | to get the economic machine in i. emotion now.
 { He listed some of the features of the MIRA as the speeding up of work. the general establishment of !. fairer wages, the. setting of codes < flor fair standards of competition, ' and the gold purchase policy re- gently adopted by the government. { There is danger, he believes, in :. the popular belief that due to the 2 efficiency growth we cannot return :. to 48 hour week basis in the fac s-tories. He denied this idea. assert ing that there is no record in our
 history or that of Eurpoc to indi-
 cate increased use of 1abor-saving
 devices tended to spread unem-
 ployment. Until you step up pro-
 duction, you can't step up your
 buying power, he asserted. Sooner
 or later, business men must have
 the courage to lengthen hours. he
 said.
 On Selfish Interests
 We shouldn't be too critical of
 the MIRA administration if we find
 exceptions to the establishment of
 fairer wages. This provision is be-
 ing reasonably well enforced, he
 stated. One great danger to the re-
 coyery program lies in the at
 tempts of selfish business interests
 in Washington to use monopolistic
 practices under the guise of the
 MIRA program, Professor Hastings
 claimed. He said that this might wreck the whole movement unless
 it is ferretted out.
 In discussing the amount of
 money in circulation, he stated there is over 5,200,000,000 of hard
 cash in existence in2this country
 but about 2,OOO. 100000 of this is
 tucked away by hoarders. The
 present deposits in banks is IS bill
 lions below normal. The efforts of
 the Reconstruction Finance Corpo- : ration and of the public works plan
 have only succeeded thus far in stopping further decline of bank
 deposits because of the terrific
 amount of liquidation previously,
 he asserted.
 Gold Purchase Plan
 He believes the gold purchase
 policy of the government is an at
 tempt to instill into the average
 citizen who does not clearly un-
 derstand this policy the belief that
 through it prices will go up, he stated. and if the citizen believes
 this and acts accordingly, prices