The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-01-01

sound basis Of stability is bel
Grouped together, the ex-
preston of accomplishment
and hope served to convey to
President Roosevelt a symbol
of public confidence in his
spectacular drive to carry
disorganized depression into
organized prosperity.
Although it was emphasized that
the recovery program yet remains
in transition stage and that its
various branches are moving slowly
toward a degree of crystallization,
evidence was given that 1884 may
bring an approximate return to nor
NAL economic and industrial cOndi-
tons.
President William Green of the
American Federation Of Labor said
the outlook for the new year was
bright and reassuring." Unem-
ployment, he pointed out, has been
reduced, business Of all kinds shows
marked improvement, and on every
hand there is abundant evidence Of
renewed courage and revived hope"
Better Foundation Laid"
Through the application to in
dustry of codes of fair trade prac-
tees he said, many basic indus
tries have been placed upon sound
and stabilized basis, better indus
trial foundation has been laid, and
an economic order in keeping with
mass production requirements has
been applied to future industrial
development.
Daniel c. Roper, secretary Of COM
merce, asserted that the nations
financial structure has steadily i'm
proved"
This last year." said Mr.. Roper,
has been one of great accomplish
ment in the economic field. On the
threshold Of the new year We find
almost every major indicator of
business conditions moderately above
the level of year ago, and a num-
Der Of them substantially higher.
Agriculture on Rise
= "'Ihere is much evidence that the
recovery program will proceed ag-
gressively, that our remaining prob
lens will be slowly but surely sur
mounted, and that consolidated
gains for 1884 will bring about a
substantial measure of improvement
in all segments of our economic
life
1t was noted that agriculture was
emerging from the emergency
bounty stage and working toward
controlled production designed to
fulfill all needs without excuses and
provide the farmer an adequate rec
ompense with buying power.
Speaking for the railroads, R. H.
Ashton, chairman of the board.
American Railway Association as
serted that financial results from
operation had improved in 1888.
Freight Traffic Gains
Increased freight traffic during the
year, combined with a decrease in
operating costs, he said brought
Glass I roads an operating income in
1888 of S465 100000, or III per cent
of property investment
Freight handled in 1888 was 252,-
000000,000 revenue ton miles, an in
crease of 8 per cent over 1882.
In new year summary, the re-
covery administration observed that
the basic pay of nearly 100000
persons in factories, stores and
mines had been raised and that
drastic reductions in maximum work
hours had been accomplished
Warning Note Sounded
The statement. coming in advance
of a congress which promises to re-
view NRA activities with severe
scrutiny. listed among accomplish
mentS of the recovery administra-
ton adjustment of child labor, in
creased pay rolls. elimination of cut
LII udI COIlIkClltlOll. anu Unfair pIdC-
tees. and settlement of more than
200 major industrial disputes af-
fecting 100000 employees.
The NRA. it was said. brought re-
employment to 100000 in addition
to 100000 employed under the
civil works program.
A note of warning was sounded by
John Dewey, president of the Peo-
pies Lobby, who declared that con-
gresS must make lat once" an
appraisal of the real effectiveness
OF the legislation and measures
known as the new deal in
order that congress, still a CO.
ordinate branch of government, may
know what legislation is needed to
rrpVaY1t DISC Stpy"