Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1936-12-24

Official Washington believes that
the nation has not only entered upon
an era of economic recovery, but
that something resembling a real
boom is imminent.
That outlook. while encouraging
IN many ways. is not. however. to
the liking of folk who have a keen
recollection of the great boom of
~l92b-29. and of the crash which
followed its collapse.
How to control the tendency to-
ward rising prices and prevent the
Doom from developing into such a
speculative wave as that which
swept the nation ten years ago is
the problem to which many of the
aolest minds in the Administration
are giving very serious thought.
The best opinion expressed here
Is that new efforts TO control prices
ana curb speculation. either by Gov
srnnlent action alone or by closer
cooperation between Government
ma business. will be undertaken
"hen the new Congress gets under
way. ~
/, d recovery which is definitely
mere will be of little benefit IN tba
sreat mass of the people if its re-
sun is 10 increase the cost of living
U. senulng commodity prices sky-
nigh. Official Washington is more
apprehensive of that than of the re-
cu~rrence of a speculative boon on
the Stock Exchange.
Ihe powers already granted TO
the Securities and EXCHANGE Com
mission are regarded as being suf-
hcient, If i%ntelligently used. 70 ple-
vent any such runaway" marka- as
developed in 1929; though the
STOCK market naturally reflects in
creased business prosperity. and the
price of stocks is based. in the
main, upon the business outlook.
Pay and Hours Problem
What Washington fears IS that
II may be found difficult or impos-
sible to prevent drastic rises in the
prices of the ordinary commodities
OF life. especially in view Of the
growing strength of the demand
for higher wages and shorter hours
for workers in industry.
There is a very real conflict now
Al Pic-itoS VII d HullDtT Oh lTOnlS
between those who accept the view
that high wages and free competi-
ton are not incompatible with low
prices to consumers, and those who
still believe in the price-maintenance
policy whirh underlay the NRA.
Those who hold that the general
welfare is best served by fixing re-
tail prices to consumers received
considerable encouragement when
the Supreme Court unanimously de-
clared constitutional the laws of
Illinois and California permitting
manufacturers of trade marked
goods to fix the price at which re-
.ailers must sell them.
A similar law in New York State
had been declared unconstitutional
by the State Court of Appeals. but
the Supreme Court of the United
States now holds that any state has
authority to abolish price-cutting
to consumers by this means. Four
teen states now have laws of a sim
liar nature. 1t is anticipated here
that the project of a Federal re
sale price-maintenance law will be
revived.
Industrial Progress Move
What is looked upon as a move
in that direction. if not actually a
revival OF NRA is the trend devel-
oped at the recent conference held
at Washington under The direction
Of Major George l.. Berry, the Pres
ident's Coordinator for Industrial
Cooperation.
Even though a definite plan did
not come out Of this Council for In
dustrial Progress, anil many import
ant leaders of business and industry
were not represented, resolutions