The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-10


economic history Of the country.
crises, their greenback movements
Roosevelt revolution" and rising J
monopoly party. the antitrust law.
movement, utility regulation of all
Of 1920.
The Administration has decided
to turn its back on sprice fixing and
production controls for industry, and
President Roosevelt has indicated he
will favor a return to some of the
principles Of the antitrust laws in
remodeling NRA. But AAA is de-
Tending higher food costs. for the
most part.
Bottom in 1888
Food COSTS" says Consumers
Guide, issued by the Consumers
Council of AAA, struck bottom in
1888 when they were slightly less
than food costs in 1918. Total cost
of living in 1888 was still 80 per cent
above the 1913 level. No other item
in the cost of living dropped so low
as food in 1888. Even with the in
crease in food costs since 1888, food
prices on Feb. II, 1885, were prob
ably about Is per cent below the
February average of all living costs.
"1934's bad growing weather,
which drastically reduced supplies, is
responsible for the severity of 1885 5
food-cost increases. Even with
weather. reduced supplies, farmers
produced in 1884 within Is per cent
of the amount they produced in 1929.
1934s industrial production was still
about 40 per cent under that of 1929.
Permanent gains, both for
farmers and consumers, can come
only with greater industrial produc-
ton at lower prices"
Figures indicating how many
families in the United States suffer
! hardship when living costs rise only
little, and how general the pro-
test against this condition is likely
to be, we're compiled recently by the
Bookings Institution.
Most Incomes Under $4,000
It's studies show that even in 1929,
so per cent of all families in the
country received less than $4,000 a
year and II per cent received less
than $500. One in every five fam
lies had less than $1,000 a year.
Of all farm families, 80 per cent
received less than $4,000. Their liv-
ing cost them less than urban dwell
ers, but the figures show that u per
cent of the farm families did not
have even $500 a year.
Taking all families, there we're in
in 1929 as many with incomes lower
than $1700 as there were with in
comes above that figure. Sixty
eight per cent of the non-family in
dividuals in the country received
less than $500 a year
The Brookings Institution COM
mented that "at 1929 prices, fam
lily income of $4,000 may be regarded
as sufficient to supply only basic
necessities" At about the same time,
DR.. Moredcai Ezekiel, economic adj
wiser to the Agriculture Department,
estimated that $500 year was
necessary to assure "a moderately
full life" for an American family.
The national survey of potential
product capacity, financed partly by
CWA funds and completed last fall,
estimated that each of Americas q
million families must have an in
come of $470O if the country is to
realize its full production capacity.
Hold 43 Per Cent Too Low
The American Federation of La
Dor estimates that 1912 was neces-
sary to support family of five in
health and decency' in 1884, and
adds that the average income was
S1O99, or 43 per cent below the
health and decency" level.
Some of the low wages which
went into this average we're dis
closed by the census Of manufac-
lures made in 1888 1t found that
makers of mems shirts and work
clothing we're averaging $500 year
which meant that unskilled work
ers received even less. Makers Of
clay products averaged $500; of pot
terry, $3.50; of cigarets, 1922. Steel
workers averaged $685.; automobile
workers, $1,000; makers Of machine
tools, tires and inner tubes, $1,000.
President Roosevelt has indicated
several times that he would like to
see wages stabilized on an annual
basis rather than an hourly or daily
rate, which means little when gaps
in employment and part-time work
are taken into consideration. So
far little has been accomplished
along these lines.
And food goes up.