The Waterbury Democrat., 1933-09-16

faster than purchasing power, and destroy the presidents plan. The danger to be avoided was pointed out by the president on June 6, 1888, in the statement which he made on signing the Recovery Act. He said then:
 If we now infiate as fast and as far as we increase wages, tho whole project will be set at naught. We cannot hope for the full effect of this plan unless, in these first critical months, and, even at the expense of full initial profits, we defer price increases as long as possible.
 If we thus start Q strong, sound upward spiral of business activity our industries will have little doubt of black-ink operations in the last quarter of this year. The pent-up demand of this people is very great, and if we can release 1t on so broad a front, we need not fear Q tagging recovery. There is greater danger of too much feverish speed"
 If you were selling your mer- chandise on July 1, 1888, below cost, you may take your cost price on that date as the basis for deter mining the allowable increase un- der this paragraph.
 Cooperation
 10. To support and patronize establishments which also have signed this agreement and are list ed as members of the MIRA (Na- tional Recovery administration). The success of the Presidents Reem ployment Agreement program depends upon public support going to those who raise wages and shorten hours in accordance with this agreement, in order to repay them for the extra expense which they have incurred in doing their part.
 Codes
 II. To cooperate to the fullest extent in having code of fair competition submitted by his in- dustry at the earliest possible date, and in any event before September
 This agreement is . temporary measure to tide over the time from now until all employers and em- | ployes cooperate under codes of fair competition under the National Industrial Recovery act. You agree. in this paragraph. to do all you can to have a code submitted for your trade or industry before September
 Appropriate Adjustments 12. Where, before June i6, 1888, the undersigned had con- tracted to purchase goods at Q fixed price for delivery during the period of this agreement, the un- dersigned will make an appropriate adjustment of said fixed price to meet any increase in cost caused by the seller having signed the presi- dents unemployment agreement or having become bound by any code of fair competition approved by the president.
 This agreement will, usually, in- crease the costs of those who sign
 1t. The purpose of this paragraph Is to pass any such increased costs along from one siEner to another,
 and so on to the consumer. If you have contract made be. fore June 16, 1883, to buy goods
 at . fixed price, you agree to
 make an arrangement with your seller 50 that you may pay him for the extra cost to him caused by his
 having signed this agreement, or
 having come under . code ap- proved by the President.
 In some cases the final buyer Is the government, which, under ex-
 isting law. is generally not allowed to pay more than the contract price. The President has announced
 that he will recommend to con- gress that appropriations be made
 to allow the government to play its part by paying government con- ment for their increased costs. The President has also appealed to the states and cities to take action per- hitting them to do likewise. | You should have no fear that,
 because your buyer has not signed, you will be left with the increased | cost on you alone. The President
 expects every employer to sign this
 agreement.
 Substitutions
 13. This agreement shall cease | upon< approval by the President of
 a code to which the undersigned is subject: or, if the MIRA so elects,
 upon submission of 9 code to which the undersigned is subject
 and substitution of any of its pro- visions for any of the terms of this agreement.
 As pointed out in the explana-
 ton of paragraph CID P.R.A. above, the President plans to have all business govern itself under
 codes, and therefore codes should
 be promptly submitted. If MIRA finds that the wages and hours pro- visions of a code which has heen