Evening star., 1934-03-13
Approval Is Given
Presidents Recovery Plans

guards. and it is a requisite for which
the main reliance is placed on the
banks"
THE call has gone out" according
to the Cleveland News. "to consolidate
the positions which have been taken,
particularly for private initiative to
take hold, to back the Government
in the spirit as well as the letter Of
the new law. 1t is a call uttered in
full confidence that praiseworthy
gains have been made. and that the
experiment is abundantly worth car
rying out. In that spirit the country
receives the White House appeal on
the anniversary of the first message
from the President to the people"
1T is speech" in the Judgment OF
the Philadelphia Record. which map
mark the turning in effective admin
istration of the whole recovery pro-
gram. 1t is a plain warning to indus
try-before the breakdown. Produc-
ton has been rising, employment
declining for two months now. No
mistaking that danger sign. And II
industry can't right the wheel in time
to avoid a crash. Mr. Roosevelt noti-
fies it that the Government will" The
Salt Lake Deseret News concludes as
20 the matters under discussion: Two
great principals must find realization
in the N. R. A. if it succeeds and
meets the need of modern society.
One is that it bring far larger pro-
portion of future earnings of capital
and labor back to the people. The
second is that it preserve the efficiency
of production which the old system Of
urtrammeled competition so sharply
cultivated"
Disagreement with the President is
indicated by the Kansas City Star in
the query and comment: How is the
desired reduction of unemployment to
pe obtained? AS has been pointed
out repeatedly, the great unemploy-
ment is in the durable goods indus
tries and in the services dependent on
them. The way to further recovery
now Is evidently to stimulate these
industries, including construction. by
removing the obstacles that are hold
ing them back. These obstacles
include monetary uncertainty; the
prospect of long period of excessive
taxes to meet the public debt, which
is mounting under terrific Govern
ment expenditures; the possibility of
governmental action to increases costs
and reduce profits, and the unduly
harsh provisions of the securities act
In this direction lies the tested road
TO progress rather than in the direc-
ton of the, untrodden path to which
the President points"
There is much discussion of the
question involved in the desire of the
President that hours Of labor be re-
duced while maintaining high wage
scale. The Richmond News Leader
asks. Can industry bear the extra
charge until the flow of large wages
into the retail stores, through in
creased consumption, stimulates gen.
eral buSiness?" The Toledo Blade
points out that business must charge
higher prices" while the, Portland
(Me) Press-Herald charges that Con-
gress "has contributed nothing to aid
the general credit situation"
The Akron Beacon journal believes
that "the only uncertainty Is whether
many Industrial enterprises. without
reference to their approval of the
logical remedy he proposes, will be
able to give 1t effective support" The
Youngstown Vindicator states that
companies which have been in the
red for years will hesitate before they
add to their expense, and in ,nany
cases they will not have the ability 20
increase their Day rolls"