The Waterbury Democrat., 1937-12-27
Attributes Recession
 To ssPrice- Boosting"
Assistant U. s. Attorney Warns Big Business OI
 Government Spending, Increased Taxation

disclosed in a senatorial investiga. ton Pierre dupont wrote that 1t was the duty "of our officers and de rectors to endeavor to win reasonable ..e...7 for the stockholders, That Is only part of our duty, but we can. not assent to allowing our own DO. triotism to interfere with our du. ties as trustees"
 Not That Cooperation
 q say in plain terms" Jackson declared, that the American peo. pie do not want our government to undertake that kind of cooperation, What big business previously hAS done in the name of cooperation is too well remembered for us to commit ourselves to it again in the dark"
 He charged that big business rec peatedly has promised that # gov- ernment would reduce expenditures, confidence would be revived and, as 0 result, private industry would morS than take up the slack.
 "BuS monopoly, by trying to skim all the cream of the recovery for itself, belied the plain meaning of It's promise" Jackson asserted. "Monopoly prices and monopoly profits jumped beyond oil reason and way above the price level that small business could get. Such ar. ticles as coke, cement, chemical products processed meat products, and iron and steel rosO in price above their 1929 price levels.
 Balance Budget Not Enough
 A balanced budget alone, he con- tended, was not enough to prevent recessions.
 "We had 0 balanced budget when the last depression came," he con. tinued. We have to keep our bal. ance in other things aS well aS the budget. We have to keep c balance between prices and purchasing pow. CT c balance between production and spending. c balance between living costs and wages. balance between what big business demands and what small business can stand. Monopoly and big business have thrown us of balance In these things and this Is the cause Of our diScontent and unsettled confi- dence."
 Jackson insisted the country b not now facing a major depression but added: If private enterprise cannot adjust to conditiong," the governs ment Is organized to step in at any time.
 Denied Cause of Price Rising
 Prom what I think I know, that impression B not accurate-or at the most most only half accurate" he said. "Take for instance the most dramatic wage increase of the year. the 10 per cent wage increase t, steel. l have in Washington c dc. tailed and authoritative study aS to increases iil steel prices, wages and costs between A2ril-Jnue i036 and April.June 1897. This study shows that the increases i1 iron and steel prices, effective December ], 1886 and March l, 1887, were three times aS great aS necessary 10 cover the increases irl the cost Of both labor and raw material during the same period.
 Could Have Been Covered
 "The wage increases alone could have been covered by an increase of 6,6 per cent in prices. The total tls crease ir steel plant wages and ID higher costs Of materials which would reflect wage increases else" where could have been covered by an increase Of 0.1 per cent in prices: But the actual increase in steel prices according to this expert, was not 6 per cent, not Q per cent, lt was q per cent How can we have . housing program under such con- difi0nR1D