The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1937-12-11
Good News Too
New York Tines

New York Tines
In such situation as that which now prevails,
it false optimism to recognize that along with
many dscouraging reports of the of American
business recently there has also come reassurng
news. In fact, if perspective is not to become
so distorted that we nothing but the bad, and
overlook entirely the good it is fair to say that in
certain fundamental respects the present situation Is
actually favorable than that which prevailed at
the end of last February, when business was moving
rapidly ahead and the security markets rejecting this
advance and the hope of future gains were at their
highest levels of the year The character of of
the more favorable developments of recent months
can be indicated by few comparisons:
l. At the end of February the of Shutdown
strikes was at its height there to fear
that this method of industrial conflict which had
already crippled production in the automobile industry
might spread to other industries as we'll Today it is
clear that organized labor itself regards
the sit-down strike liability rather than asset
The shortived strike at Pontiac ended recently
directly the initiative of officials of the Go who
insisted not only that local union abandon property
which it had seized but that it respect the validity OF
a written contract
2. At the end of February the Federal Government
had taken position in the matter of the sltdoWn
strike except for the casual remark of Cabinet MEM
Der that the legality of this method had not yet been
Today the Federal Government has been
placed record through formal statement of the
official believing that strikers may not law
itself is full of hazards to the progressive democratic
development of trade unionsm and the orderly pro-
cess of collective bargaining
8. At the end of February preparations
under way for nationwide strike in the steel in
rustIy Subsequent developments in connection with
this strike have shown that while American opinion
friendly to the growth Of trade unonism and to the
extension of collective bargaining it is opposed to the
use of such methods of force as mass picketing and
that it is prepared to ask of its public officials that
they protect the right to work as well as the right to
strike.
4. At the end of February the chief business be-
fore the Congress of the United States plan to
increase the membership of the Supreme Court a
means of influencing its decisions That plan, which
carried with it inevitable threat the independence
Of the courts and the maintenance of the American
system of checks and balances, has been rejected
by the Senate There is reason to hope that its
lection will it to be laid aside
5. At the end of February there seemed to be
no prospect whatever of early revision of Federal
taxes which unwittingy emphasized speculative swings
in the security markets and unwisely forced the dis
tribution, in the form of dividends of surplus funds
that might otherwise have been used for industrial
expansion. There is every to believe that
these taxes will be revised at early date Moreover
it should be obvious to the business community that
any revision undertaken the regular session which
made before March Is revision at the special ses
sion which is now in progress
6. At the end of February the Federal Govern
ment pilng up a deficit at the average rate OF
s2500O0000 monthly. Its present average monthly
deficit is not much more than half that figure and
provided the present recession of business can be
checked before it has cut deeply into the Treasurys
revenues there is to believe that the yearend
deficit will be the smallest in years.
4 AT the end of February the Federal Govern
ment and the public utilities industry were completely
at oggerheads. In recent weeks the Administration
has at least suggested terms on which the utility in
dustIy can explore the possibility of cooperation and
the Securities and Exchange Commission has an
nounced that the Holding Company Act of 1885 will
be applied as IAN evolutionary rather than revolu-
tionary" measure
.. AT the end of February the President had sub
nltted to Congress report which seemed to fore
shadow the enactment of far-reaching Federal wage
and-hour legislation which might force some indus
tries to curta production 1t is now evident that if
any early legislation is enacted in this field it will
be more carefully safeguarded than the plan originally
proposed.
8. At the end of February the stability of the in
ternatonal exchanges threatened by fresh COL
lapse OF the French franc. 1t is encouraging fact
that the economic and financial situation in France
mas subsequently shown Improvement
TO- Finally at the end of February the conflict
OF policy in Europe between two groups of Powers with
divergent attitudes toward Spain carried far greater
ana more immediate threat to peace than exists today
IheSe are some of the more favorable deyelop-
mentS OF the last ten months which must be taken
INTO consideration along with unfavorable develop
ments in order to obtain realistic appraisal of the
present situation
A scientist says it is the lower part of the fare
not the eyes that gives away ones thoughts Especi
any when one opens the lower part of the face