Evening star., 1934-08-29
RECOVERY IN J.. 5.
HELD MOST RAPID
Richberg Reports Farm
Prices Within 5 Pct. of
"Pre-War Parity"
(Continued From First Page.)

debt, as compared with l2.l per cent
at the beginning of 1880.
Richberg first noted that the A. A. A.
is 1.-The agency charged with response
bility of restoring the equitable bal
ance between the price Of things the
farmers sell and the price of things
the farmer buys"
Near Pre-War Parity"
"Surpluses of agricultural commodi-
ties were among the principal price
depressing influences" Richberg said.
In March, 1888, prices of seven basic
commodities were 81 per cent of their
l910-1914 level"
Prices of seven commodities orig
inally designated as basic have risen
from 81 per cent of the 1910-l9l4 re-
lationship to 95 per cent, exclusive Of
benefit payments" he added.
Including benefit payments, the
farm price of these seven commodi-
ties was, in August, 1884, about l16
per cent of pre-war. On August 6,
prices paid by farmers for the things
they bought were estimated to be l22
per cent of pre-war prices, which
would mean that for the portion of
domestic consumption the farm price
of these seven basic commodities plus
benefit payments had risen to 95 per
cent of their pre-war parity"
In his radio speech, Richberg sum-
married the conclusions of his VOL
luminous report as follows:
"First-That the Government activ-
tiles all fit into well conceived and
consistent plan to relieve immediate
distress and to attack underlying
causes of the depression;
"Second-That this plan has been
effectively carried forward;
Recovery Has Been Rapid.
"Third-That as the direct result Of
the measures adopted and their prac-
tical administration, the American
people have been able to lift them
selves out of this depression more rap
idly and with less internal diSsension,
and at a lower cost in human suffer-
ing and burdens upon property, than
any other comparable nation. Indeed,
according to these standards, we have
made better record of recovery in 18
IlldlI Oul 4NdIlOi1 CNCI I1ldQC III
any previous comparable depression.
"Finally-This advance in economic
security has been achieved by COM
bining governmental action with the
organization of industry and agricul-
ture for self help, in such a manner as
not only to preserve but to strengthen
our democratic institutions of self
government and to insure the perpetu-
alton of our constitutional safeguards
Of individual freedom"
ByrnS said Fletcher took the posi-
ton the Roosevelt administration can
not claim credit for assisting recovery
before July of last year when the
A. A. A. and N. r. A. acts actually
became effective" He continued:
HE overlooks the fact that the for
mer became effective in May and the
latter on June 16 and furthermore
that the country was alert to avail it
self of the advantages of both for
weeks in advance. He does, however,
parenthetically mention the return
Of public confidence in April, 1885,
which is considerable concession"
Cites Code Figures.
Referring to F1etcher'S having dis
puted figures on Unemployment and
production, Byrns replied that the
statistics came from the industries
themselves through their code au-
thorities. He cited National Industrial
Conference Board statistics showing
bigger gain than that claimed by
Richberg.
ie - NnJIncol
indefinitely" but it is common
knowledge that he will withdraw some
time this Fall to assume another key
post in the recovery drive, probably
that of chairman of the National
Emergency Council, of which he is
now secretary.
AS for plans for the reorganization
of N. r. A., upon which he and john
son split, his address touched only
upon the general problem.
These industrial rules of fair play"
he said, referring to the codes, had
to find their support in the public
law, which could only approve and
sanction codes that promoted the pub
lie interest. And SO into this program
of industrial f-government had to
be written a public supervision and
participation, which, if negligent and
weak, might permit private monopolieS
to exploit the people; or, if exacting
and dictatorial, might unduly restrict
individual freedom and subject busi-
ness to bureaucratic tyrannies."
Charges Absence of Statistics.
In seeking to refute Fletcher's con-
tentionS Byrns asserted that the
feature" of his attack on Richberg
was the absence of any statistics to
disprove the plain figures Of really
phenomenal progress" put forward by
Richberg.
1T should be a source of gratifica-
ton" Byrns continued, that the index
of production of all manufactures of
every kind rose from Ala in March,
1888, to 72.1 in May, 1884, and the
index of corporation profits rose from
a deficit figure of SO to a profit fig
ure of 1922 in the same period, not
WithStanding increased labor cost un-
der N R. A. codes. The public. how
ever, is infinitely more interested in
the primary purpose of the recovery
processes providing jobs for the unem-
ployed
ON that subject Mr.. Fletcher
violently disputed Mr.. Richberg's fig
ureS showing that 4,l20000 more per-
sons we're employed in June, 1884,
than in March, 1893, and 2,320,o0o
more than in June, 1888. The truth
is that these figures are ultra con-
servative"
Byrns then cited surveys by the
National Industrial Conference Board
to show that "the gain in employment
in the Is months from March, last
year, to June, this year, was 5,678 900,
instead of the even more conservative
Gr,,rn Il l..